Real estate news for home buyers

Sweat Equity on the Rise!!

Jim and Kristina have taken advantage of the real estate market.

At the start of 2009 this couple sold their home in Meridian with the intention of moving to California to be near family. After months and months of looking at several homes in the Golden State, the couple became discouraged and began to sense that Boise Idaho’s pricing, along with quality of living, was too good to pass up. With that, Jim, Kristina and I began a search for their new home.

New construction, short sales, bank-owned property and occupied homes alike all had positives and negatives. When the dust settled, however, the couple found that a well-built bank-owned property within a cozy community fit the bill very nicely. Although the paint was distasteful and the curb lacking any appeal, the parquet flooring of the house made up for that. The kitchen was open and bright with plenty of cabinet space, the floor plan flowed with ease and the quality of construction was first rate. In 2006 this home would have sold for the mid 180’s but by working together, the Beans were able to make the purchase for only $130,000.

Jim and Kristina have always been “handy” people. In fact, while in California the couple spent many weeks helping their son and daughter construct their personal home. During this time, Jim and Kristina learned trades that included installing tile, hardwood flooring, siding-you name it!! The knowledge was definitely put to good use.

The work began. Kristina began stripping the countertops and laying tile. Jim started pulling the dirty carpet and ripped vinyl planning to lay a hickory floor. Even the roofs had to be repaired with the broken ones to be replaced with new pieces to prevent leaks. Commercial roof repair St. Louis helped them with that while they were busy working on the kitchen renovation. All the while, doing prep work for the full interior paint job, they also found some helpful roofing tips from Bourdeau Contracting LLC website. After nearly 30 days of sleeping on cots and eating cold dinners, the Beans completed their project and invited me over to see the results of their “sweat equity”.

I could hardly believe that it was the same home! The smell of fresh paint and lacquer was prevalent while Kristina excitedly directly me toward the kitchen. Granite and tile graced the middle island, countertops and backsplashes; the cabinetry was antiqued while the stainless steel appliances topped it off. “Wow!” I exclaimed. Next, Jim spoke about the hickory flooring that was laid throughout the first floor. It was gorgeous and only cost $1,000 for the material! Jim and Kristina were proud of their work and had every right to be. Click for more information if you want to achieve such an impressive result, too.

Before leaving, Jim and I discussed the market and what the home might sell for right now. At least $150,000, I mentioned, if not more. Jim stated that he and Kristina had put $2,000 (plus or minus) into material and couldn’t be more thrilled that they had realistically made $16,000 for their time. “In a year or so, Matt, we’ll be doing this again. And also, my kids down South are itching take advantage of the pricing around here”.

Jim, Kristina and I

Jim, Kristina and I

Before Remodel--Kitchen

Before Remodel–Kitchen

After Remodel--Kitchen

After Remodel–Kitchen

Before Remodel--Living Room

Before Remodel–Living Room

After Remodel--Living room/mantle

After Remodel–Living room/mantle

HomeBuyer Big Mistakes

The best way to avoid making a mistake it to learn from the mistakes others have made. Buying a home in a desirable location is your best defense. Remember: location, location, location.

* First-Time Home Buyer Tips.
Start your search online, and don’t rely on print because most homes are not advertised in the newspaper.

* Preview Homes for Sale.
Ask your agent to look at homes before showing them to you, and tour only those that fit your parameters.

* Avoid the Top 3 Home Buying Blunders.
Protect your earnest money deposit by writing contingencies into your contract.

Don’t go at it alone.  One of the most important steps if finding the right buyer’s agent to help you along the way.

Make sure you know the difference between the signing time and the actual closing date.   This can help you avoid a ton of frustration.

How To Pick An Agent

With so much information available online, you might wonder why you need an agent at all. But all local markets vary from one another, and a good agent can guide you by giving you information based on experience and market knowledge.

* Why Hire an Agent?.
An agent with experience can help you to avoid making mistakes such as choosing the wrong home or offering too much.

* Find a Real Estate Agent.
Start by asking your friends and family member for referrals. Make sure you are comfortable with your agent before committing to work with that person.

* Follow Protocol for Working with Agents.
Here are 10 tips to prevent you from messing up or saying the wrong thing to an agent.