RECONSIDER THESE CHOICES WHEN YOU’RE DESIGNING YOUR KITCHEN

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The kitchen is one of the areas of a home that sees the most wear and tear. All the water, heat, and food spills add up quickly, so it’s important to focus on quality and lasting appeal if you’re choosing materials for a kitchen remodel. Here are a few things you should avoid:

Cheap laminate counters: The bottom rung of laminate is extremely susceptible to wear and tear. It can melt if you forget to place a hot pad under a pan that’s fresh off the stove, and the edges can chip off from repeated exposure to moisture and heat.

Flat paint: A flat or matte finish is great in rooms with lower traffic, but it’s a bad idea in the kitchen, where the walls are regularly exposed to splatters and spills. You need paint that can withstand an occasional heavy scrubbing, so opt for gloss or semi-gloss finishes.

Trendy backsplash: If you watch any home remodeling shows, you’ve certainly seen kitchens with expensive, elaborate backsplash designs and materials. Those trends can be pricey to pursue, yet can look dated in a hurry. Subway tile is a cheaper, classic option that you’ll never regret—and you’ll have more room in your budget for quality materials elsewhere.

Cheap flooring: Just like the countertops, your kitchen floor needs to be strong enough to take some abuse. Cheap flooring easily scuffs and peels (especially from moisture). Quality flooring is worth the investment.

Chris Booth, Realtor® @ eXp Realty, LLC SL3338071

Email: chris@chrisboothrealtor.com

Cell: 407-473-0160

NEW HOME, BETTER LIVING

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When you’re house hunting, focus on the things that will improve your quality of life.
There are so many factors that go into a home buying decision that it can make your head spin—especially if you’re in a competitive market where time is of the essence. The desire to purchase a property makes it easy to look past issues that could detract from your enjoyment of the home and cause some regrets down the road. That’s why when you’re weighing your options, quality of life should always be the top priority.

Location is part of lifestyle
Buyers often focus on “must haves” that can be added via renovation, but will downplay factors that are impossible to change. For example, if you work and spend much of your free time in the heart of a busy city, a house in the suburbs may mean more space for the same price, but it could also mean long commutes and a major hit to your nightlife. A centrally-located condo might be a better option.

On the other hand, if you’re a weekend warrior who looks forward to skiing, hiking, and mountain biking trips, living outside the city may be perfect—you’re that much closer to the trails when you wake up on Saturday morning. It’s a cliche, but it’s true: Location, location, location.

Big homes aren’t for everyone
If you love entertaining friends and family, a big house makes perfect sense. You’ll have all the space you need to prepare meals and throw big parties, and your guests won’t have any trouble finding parking.

But a big home also means more cleaning and maintenance—more lawn to mow, more bathrooms to scrub, more things that will break and need fixing. Before you dive into an alluring big home, consider your tolerance and enthusiasm for the upkeep. For some, a smaller home or a professionally-maintained condo are better options.

Chris Booth, Realtor® @ eXp Realty, LLC SL3338071

Email: chris@chrisboothrealtor.com

Cell: 407-473-0160

AVOID THESE TWO BIG MORTGAGE MISTAKES

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We all know that searching for and viewing potential homes is the fun part of the home-buying process. The not-so-fun part? The mortgage.

But if you don’t pay attention to the details, your mortgage can end up dragging down the enjoyment of your new home and cause some major regrets. Here are a few mistakes to avoid to ensure that you love your mortgage terms as much as your hew home.

Don’t find your home first: Shopping around for the best mortgage rate should be the first step in the home buying process. You may even want to talk to a mortgage broker a full year before you plan to buy. It’ll give you time to get your affairs in order to qualify for the best rate, could save you thousands of dollars in the long run, and you won’t feel rushed to accept an unattractive loan because you’re worried you’ll miss out on your dream home.

Don’t forget your real budget: There’s often a big difference between what a lender says you can afford and what you can actually afford. Your debt-to-income ratio doesn’t include the money you spend on hobbies, or the cost of commuting to work, or maintenance and utility costs.

Really sit down and examine your spending before committing to the loan amount the lender is offering. You won’t enjoy your home nearly as much if it’s eating into your favorite hobbies.

Chris Booth, Realtor® @ eXp Realty, LLC SL3338071

Cell: 407-473-0160

Email: chris@chrisboothrealtor.com

WHAT AFFECTS PROPERTY VALUES?

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Some the features that increase property values are obvious—like a remodeled bathroom, a modern kitchen, or a sought-after neighborhood. But here are a few features and circumstances you have not have realized can affect property values.

 1. The neighbors: Not every neighborhood or community has an HOA that can keep the neighbors from going overboard with decorations or neglecting to care for their home. Homes adjacent to crazy neighbors can potentially be undervalued.

 2. Trendy groceries and coffee: Recent statistics suggest that if your home is a short walk from popular grocery stores like Whole Foods or coffee chains like Starbucks, it can actually appreciate faster than the national average.

 3. Mature trees: A big beautiful tree in the front yard is enviable, and it’s not something that can be easily added to any home. Homes with mature trees tend to get a little boost in value.

 4. Parking: This isn’t too much of an issue if you live in the suburbs or in a rural area, but residents in dense cities can have real problems with parking, and homeowners might need to rent a spot just to guarantee a place to park each night. That’s why having guaranteed parking in urban areas will raise property values.

NUMBER 5 IS THE MOST IMPORTANT ONE

 5. The front entrance: First impressions matter to buyers—many will cross a home off their list within 10 seconds of stepping through the front door. An appealing front door, a friendly entryway, and a functioning doorbell are all necessities for getting top dollar.

Chris Booth, Realtor® @ eXp Realty, LLC SL3338071

Cell: 407-473-0160

Email: chris@chrisboothrealtor.com

FROM DECORATING TO STAGING

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There is a difference between the two—here’s how to get your home ready to sell. Once you’ve decided to put your home on the market, you’re looking to sell quickly for the best possible price. One tactic that can help sell your home faster is staging.

At first, staging may seem like a real estate term that doesn’t actually mean anything. Isn’t staging just decorating? Well, not exactly …

Appeal to the masses
Your home is likely decorated to your tastes. It could be colorful and eclectic, or rugged and industrial. But when you’re staging your home, rather than appealing to a specific decorating sense, you want to furnish your home in a way that appeals to everyone—and more importantly, doesn’t turn anyone off who just isn’t into your personal style.

Tone down the personal flourishes
Buyers want to be able see themselves in a home and imagine how they’d make it their own. Unfortunately, that means less of your own style as you’re preparing for your move. Cut down on family photos, bold artwork, and unusual furniture. Do some major decluttering so the buyer can see all the space and storage opportunities. It may be sad to start removing the items that make your house a home, but it’s an important part of the process.

Mass appeal doesn’t mean “boring”
Your staged home can still be colorful, just stay away from extremes. If you paint, stick to whites, grays, or neutrals. Add flourishes of color with window treatments or accent furniture, but try to choose items that will appeal to both genders.

Call a pro
There are likely several staging companies in your area. If you need a recommendation, reach out to me and I will be glad to point you in the right direction.

Chris Booth, Realtor® @ eXp Realty, LLC SL3338071

Cell: 407-473-0160

Email: chris@chrisboothrealtor.com

DISPELLING REFINANCING MYTHS

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“Refinancing” is a scary word for many people, but that shouldn’t be the case for you. For many homeowners, refinancing can not only lower your monthly payments and help with your monthly budget, but it can save you thousands of dollars in the long run.

YOU’RE NOT TOO LATE.

For years now, we’ve been hearing that interest rates will be on the rise, and although there have been some small increases, you’re still in a great position to drastically lower your interest rate. Rates are back to where they were in 2016-2017. The general rule is if your mortgage interest rate is more than one percent above the current market rate, you should consider refinancing.

IT’S NOT TOO TIME CONSUMING.

Don’t brush off refinancing just because it seems like a long and daunting process. An informational call with a lender to see how rates compare will only take a few minutes. There are also some programs for streamlining the application process. And besides, isn’t the amount of money you could save worth the time and effort?

ARMS CAN BE REFINANCED, TOO.

Seeing your Adjustable Rate Mortgage (ARM) increase after the introductory period can be incredibly stressful and place a squeeze on your budget. Many people assume they’re stuck, but ARMs can be refinanced, just like fixed-rate mortgages. You can even switch to a shorter term fixed-rate mortgage, such as 15 or 23 years. The longer you’re planning to stay in the home, the more sense it makes to look into refinancing.

Chris Booth, Realtor® @ eXp Realty, LLC SL3338071

Cell: 407-473-0160

Email: chris@chrisboothrealtor.com

PRIORITY TASKS FOR YOUR MOVE IN

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Moving into a new home is an exciting time, and you’re probably daydreaming about decor and paint schemes and new furniture. But before you get into the fun stuff, there are some basics you should cover first.

Change the locks

Even if you’re promised that new locks have been installed in your home, you can never be too careful. It’s worth the money to have the peace of mind that comes with knowing that no one else has the keys to your home. Changing the locks can be a DIY project, or you can call in a locksmith for a little extra money.

Steam clean the carpets

It’s good to get a fresh start with your floors before you start decorating. The previous owners may have had pets, young children, or just some plain old clumsiness. Take the time to steam clean the carpets so that your floors are free of stains and allergens. It’s pretty easy and affordable to rent a steam cleaner—your local grocery store may have them available.

Call an exterminator

Prior to move-in, you probably haven’t spent enough time in the house to get a view of any pests that may be lurking. Call an exterminator to take care of any mice, insects, and other critters that may be hiding in your home.

Clean out the kitchen

If the previous occupants wanted to skip on some of their cleaning duties when they moved out, the kitchen is where they probably cut corners. Wipe down the inside of cabinets, clean out the refrigerator, clean the oven, and clean in the nooks and crannies underneath the appliances.

Chris Booth, Realtor® @ eXp Realty, LLC SL3338071

Cell: 407-473-0160

Email: chris@chrisboothrealtor.com

WHICH DOWN PAYMENT STRATEGY IS RIGHT FOR YOU?

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You’ve most likely heard the rule: Save for a 20-percent down payment before you buy a home. The logic behind saving 20 percent is solid, as it shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders.

But there can actually be financial benefits to putting down a small down payment—as low as three percent—rather than parting with so much cash up front, even if you have the money available.

THE DOWNSIDE

The downsides of a small down payment are pretty well known. You’ll have to pay Private Mortgage Insurance for years, and the lower your down payment, the more you’ll pay. You’ll also be offered a lesser loan amount than borrowers who have a 20-percent down payment, which will eliminate some homes from your search.

THE UPSIDE

The national average for home appreciation is about five percent. The appreciation is independent from your home payment, so whether you put down 20 percent or three percent, the increase in equity is the same. If you’re looking at your home as an investment, putting down a smaller amount can lead to a higher return on investment, while also leaving more of your savings free for home repairs, upgrades, or other investment opportunities.

THE HAPPY MEDIUM

Of course, your home payment options aren’t binary. Most borrowers can find some common ground between the security of a traditional 20 percent and an investment-focused, small down payment. Your trusted real estate professional can provide some answers as you explore your financing options.

Chris Booth, Realtor® @ eXp Realty, LLC SL3338071

Cell: 407-473-0160

Email: chris@chrisboothrealtor.com

SHORT SALE AND FORECLOSURE: HOW ARE THEY DIFFERENT?

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As unfortunate as it can be when homeowners fall behind on mortgage payments and must face the possibility of losing their homes, short sales and foreclosures provide them options for moving on financially. The terms are often used interchangeably, but they’re actually quite different, with varying timelines and financial impact on the homeowner. Here’s a brief overview.

A short sale comes into play when a homeowner needs to sell their home but the home is worth less than the remaining balance that they owe. The lender can allow the homeowner to sell the home for less than the amount owed, freeing the homeowner from the financial predicament.

On the buyer side, short sales typically take three to four months to complete and many of the closing and repair costs are shifted from the seller to the lender.

On the other hand, a foreclosure occurs when a homeowner can no longer make payments on their home so the bank begins the process of repossessing it. A foreclosure usually moves much faster than a short sale and is more financially damaging to the homeowner.

After foreclosure the bank can sell the home in a foreclosure auction. For buyers, foreclosures are riskier than short sales, because homes are often bought sight unseen, with no inspection or warranty.

Chris Booth, Realtor® @ eXp Realty, LLC SL3338071

Cell: 407-473-0160

Email: chris@chrisboothrealtor.com

5 NEGOTIATING TACTICS THAT KILL SALE

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Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal pretty quickly. Here are some negotiation tactics buyers (and real estate professionals) should avoid:

  1. Lowball offers: Going far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept, and if you’re not even approaching the low end of that range, they won’t even consider the offer.
  2. Incremental negotiations: Don’t continue to go back to the seller with small increases in your offer ($1,000 or less). The constant back-and-forth can grow tiresome and lead the seller to consider other opportunities.
  3. “Take it or leave it”: Try not to draw a line in the sand with your initial offer. The seller can get defensive and consider other offers if you immediately show that you’re unwilling to budge. Even if it’s true, don’t make a show of it.
  4. Nitpicking after inspection: Obviously if inspection reveals a major issue, it should be factored into the final sale price. But insisting on a lower price for every minor repair can put negotiations in a stalemate.
  5. Asking for more, more, more: Some buyers will request that the sellers throw in add-ons like furniture or appliances that weren’t included in the listing. Try to avoid giving the seller a reason to build up resentment and think that you’re being greedy.

Chris Booth, Realtor® @ eXp Realty, LLC SL3338071

Cell: 407-473-0160

Email: chris@chrisboothrealtor.com