Category

Sellers

Dec 17
0

Home Improvement Projects are booming

By | Around the house, Buyers, Sellers | No Comments

The Return on Home Improvement Projects

NAR’s 2015 Remodeling Impact Report shows both buyers and sellers  benefit of a completed home improvement project. The report documents the reasons why a particular project is chosen and measures the happiness a project can bring the owner once the project is complete. Sixty-four percent of respondents experienced increased enjoyment in their home after completing a project,  75 percent of respondents said they felt a major sense of accomplishment. Although home improvements can be time consuming and sometimes costly, these positive responses seem to indicate that the end result is worth the investment.

When it comes to interior projects:  kitchen upgrades, complete kitchen renovations, bathroom renovations and new wood flooring are among the best investments. These projects also appear to have the highest expected value at resale. Exterior projects that bring the best return on investment and attract potential buyers are: new roofing; new vinyl windows; new garage doors. The majority of these exterior projects are projected to nearly cover their cost at resale.

Remodeling projects can greatly improve both the value of and satisfaction with your home. This makes a remodel project worth your while, no matter the reason for a project,

This report highlights the best projects to consider in either situation and showcases just how much of a difference a good and professional remodel can make in real numbers.

Mirjam

Nov 27
0

A new Purchase Agreement for California

By | Buyers, Disclosures, Sellers | No Comments

When we bought our first property in CA we had to educate ourselves. Real Estate in the Netherlands is totally different, it has more resemblance to what is customary on the east coast. The purchase agreement is different in every state and they change from time to time.  Last week we had an official training in our office to go over all the changes in the new purchase agreement we use in California. The last time this agreement changed so much was 17 years ago.

The new agreement is 10 pages long, the changes reflect recent changes in law as well as feedback from the industry. The program used by Realtors to fill this out, automatically adds forms as needed. Here is a sample draft : new RPA draft

I see quit often that a purchase agreement is filled out in a rush: at the end of a day of looking at properties. Everyone is tired, there is no time to go over the offer at length. Much better for any buyer is to go over the standard agreement beforehand and discuss questions and details that reflect specific needs before making an offer. Personally I give every buyer a Buyer’s Guide for our area the moment we discuss the plans to purchase property. Besides other good information, there is a copy of a current purchase agreement and other forms that are normally used as well as the local general disclosures. This copy can be studied/highlighted so I can answer any questions. Just sold

There are many important details that need to be decided upon when buying a home. It is important to address these before making an offer, not in a rush while preparing the offer.

Mirjam

Oct 26
0

Purchase Real Estate with Bitcoin

By | Buyers, Economy, Sellers, Sonoma County info | No Comments
Bitcoin

Image source https://www.flickr.com/photos/100239928@N08/

An article on August 8 in WSJ online caught my eye: Lake Tahoe Property Sells for $1.6 Million in Bitcoins. Bitcoin is a software-based online payment system, a digital currency. Here is other article about this transaction in Martis Camp’s Lodge Estates. The transaction was paid using the bitpay service. 

At first it looks unusual but from a transaction perspective it is  more like a cash transaction. Instead of dollars, euros or yens, bitcoins are used. Similar to when paying with ‘foreign’ currency, an exchange rate is used. The property in Lake Tahoe sold for 2,739 BTC which was at the time appr $1,6 million.Dutch Euro

What currency or method is used to pay for property is something to agree upon between the buyer and the seller. Whether a buyer uses a mortgage, pays cash, uses a digital currency, or even an exchange -for instance an other property of equal value- doesn’t matter as long as the  parties involved agree and the method of payment is legally acceptable. Of utmost importance is to check with a CPA/financial advisor for tax consequences and an attorney as to possible legal consequences.

Bottom line: whether or not paying in bitcoin does not make a whole lot of difference to a transition as a whole. Buyers do their due diligence – the standard time for inspections etc in our local contracts is 17 days-, sellers do their due diligence -in this case whether the method of payment is acceptable – and upon agreement the deal closes.

Mirjam

Sep 21
0

Location – disclosures : Mold…

By | Buyers, Sellers, Sonoma County info | No Comments

GiethoornGrowing up in the Netherlands and living in older homes, mold was something we didn’t think to much about, clean the area thoroughly every so often and that was it… Now I am involved in selling property, I do look a little different at the subject.

Disclosures: when buying or renting in California, it feels like the amount of disclosures are never ending. One of them is the Residential Environmental Hazards booklet. It informs about hazards in and around the home. One of them is mold.

Blue cheeseRealize that mold is a hazard but also a friend… How so? Think about that delicious blue cheese… the blue stuff is… mold. And penicillin is made from mold. It is a fungus, in the same family as mushrooms.

But mold can also be an environmental hazard. There are several different types of mold. Black mold is toxic and an environmental hazard. Realize that mold can grow on virtually any organic substance, as long as moisture and oxygen are present. This means if the cause is remedied – lack of ventilation, moisture – and affected area is cleaned, mold will not come back.  

When selling property, sellers are recommended to have a “Pest Inspection” done prior to putting the home on the market. At that time items that need correction can be addressed prior to putting the property on the market. Buyers are recommended to also have an inspection done as part of their due diligence. The inspector will always have solutions when problems arise, or will recommend preventive maintenance as needed.

Mirjam