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Top Home Improvements That Really Add Value To Your Property

 

While many homeowners choose to up sticks and move when they want to upgrade or upsize the property they live in, huge numbers are choosing instead to renovate their existing homes – but upgrades can be costly and not all will add value to your property.

Over the past five years, homeowners across the UK have invested £41bn on home improvements, according to NAEA Propertymark, with 73% of all property owners saying they had carried out some form of renovation.

Meanwhile, in the buy-to-let market, there has been an increase in the number of landlords remortgaging in order to carry out improvements on their properties. A study from Countrywide found that 9,523 landlords who remortgaged had renovated their rentals, which is triple the number that did so in 2016.

What this means is that many people are deeming it better value for money to improve than move, but there are pitfalls to be aware of, and it is vital to know just how much your renovations will add to the value of your property to decide if they are worth it.

Canopies UK has gathered data on the average impact certain upgrades have on home values, using data from sources including Nationwide and property expert Phil Spencer, and has found that one of the best ways a property can be improved to push up its value is through increasing floor space. Nationwide figures suggest that an increase of 10% in floor space can push up the value of a home by an average of 5%.

The best ways homeowners and landlords can add value

  • On the subject of floor space, one of the most effective additions to a property is through a cellar conversion, which, while expensive at the outset, can add more than 30% onto a home’s value through the additional living space created.
  • Parking comes at a premium in many areas, particularly as more homes are being developed in crowded areas and cities to ease the housing shortage. Canopies’ study found that investing in extra parking adds an average of £50,000 to the property price.
  • Extensions and loft conversions have always been a popular way of adding extra space, especially for growing families who do not want to move house, and this can add an average of 14% to the home’s value.
  • Conversions aside, increasing a property’s size in any way to add a further bedroom will gain the owner an average of 11%, and this is likely to be a popular option among landlords who want to maximise their rental returns or even turn their property into an HMO.
  • Gaining planning permission has become easier, according to research from Everest, as the government continues to tackle the housing crisis, and it can increase property prices by an average of 10% or more.

Source: This content is copied from AppraisalNewsCast, which is a real estate news blog.

Starting Out As A New Real Estate Agent

Do you enjoy flexible hours? Being your own boss…? Unlimited income…? How about the aspect of helping people buy or sell homes? If so, then a real estate may be a great career choice for you.

As more and more people turn to real estate as careers, employment in this sector is anticipated to grow 6 percent between 2016 to 2026, according to the Employment Projections Data by the US Bureau of Labor Statistics.

Here are some tips to help you get off to a good start and ensure your chance to succeed:

Find a brokerage – Getting your license is just one part of becoming a real estate agent. Before you start selling houses, you will need to find a broker to work with. Choosing the right broker can make all the difference in your success. Most brokers offer training to agents which is essential especially if you are first starting out.

Become a local market expert – If you want to make it in real estate, you have to know the ins-and-outs of the local marketplace. Establish your knowledge of the neighborhood, understand its housing market, identify the buyers and sellers behavior, know the inventory, be familiar with the schools, local issues, traffic concerns and more.

Develop an online presence – Technology is a significant part of a real estate professional’s life. In a study from the National Association of Realtors, it showed that 92% of buyers use the internet in their quest for homes, which drives the need for real estate agents to have an active online presence. If you’re not active, engaging, and networking online, then you’re passing up a good opportunity. Begin by setting up a website and putting all your social media in order. Invest in real estate marketing tools to help you build sustainable lead generation funnels for your business.

Create a marketing plan – Just as with the homes you sell, you can’t build your real estate marketing brand without a plan. You need a vision for your advertising efforts in order to identify your target audience, allocate your resources and budget, and set measurable goals for your campaign. Be completely honest with yourself and realistic about your expectations and capabilities.

Hone your skills – Find the skills that you need to develop to be an effective and successful real estate broker. Communication, relationships and leadership are three social skills you should master as a real estate agent. Having a good mentor also ensures you start out well. They can help you learn strategies and techniques you may have never implemented yourself. Coaching also builds confidence because you can learn about the other agent’s early career experience.

Keep learning – You can’t educate your clients if you’re not educating yourself. Try to keep up to date on trends and issues in real estate.Take continuing education classes that will boost your skill set.

Selling and buying real estate is hard. But if it is something that you love, you won’t get to imagine doing anything else. Your success is dependent on no one else but you.

Source: This article is taken from AppraisalNewsCast, a renown real estate news blog.

Curb Appeal – The Best Advertising Tool of The Trade

Nothing is more important than curb appeal, especially in this day and age! It’s the one thing that makes people want to get inside and put down an offer, and the best advertising tool of the trade. Real estate agents know it, professional photographers know it, too. But how can you make your property speak for itself and create a good first impression? Read on.

Touch Up The Roof

As the focal point of your property, the house is an important element of the curb appeal. Start from the roof. Replace any damaged or missing shingles. According to NAR, a new roof has a 109% of return on investment. Remove moss and algae stains by applying appropriate treatments. You could opt for insulating by creating a green roof – however, it might not appeal to the majority of buyers. Only the ones interested in a green lifestyle and informed about it will appreciate it. The house needs to attract general public so avoid any quirky features.

Wash and Paint The Exterior

Once you are done with the roof, it is time to pressure-wash the exterior. Assess your paint-job to find out whether it requires freshening up. The color you choose should be neutral and blend in nicely with your yard and your neighborhood. Wash the windows, the front, and the garage door. According to reputable realtors, a clean exterior can add some $10k – $15k to your property’s value.

The Entrance

If after washing your front door, it still does not look up-to-scratch, consider repainting it. And don’t forget to replace the fixture. With these two done, it will seem like you have a new door. If you think that your door is too plain or too damaged, better replace it altogether. You don’t even have to shell out too much money. You can even buy used old doors for the sense of style, particularly if you live in a historical house. Invest in a fun matt and some flower planters to decorate the entrance. Clean the path leading to your entrance. If the entrance is not inviting and potential buyers feel reluctant to come in, you have lost them at your doorstep.

The Deck

Having decks is very appealing. If you do not have a backyard, the deck is your patio. Spruce it up with flowers, add some decorative lights an set up patio furniture. You should choose the furniture to match the architectural style of your home. Use some pillows to add color and comfort. Different sized planters and plants can help you have greenery at several levels. You can also hang flower pots, or go vertical with you greenery by using climbing plants – they can create a green privacy screen. An outdoor seating area is a facility sought by those looking to buy a house and without it, it is very unlikely that you will be able to reach the desired price.

 

Landscaping

Your landscape should, by all means, be spotless. This includes a fresh green lawn, nicely trimmed trees, and shrubs as well as clean flower beds and fresh mulch. If you have tall, old trees, you know that the lawn beneath them sometimes tends to die out. You can even plant fresh patches or make flower beds around them. Replace any withered plants with new ones. Musa Company suggests buying seasonal flowers in bloom and planting them for the occasion. If watered properly, they will be around for several months and add an extra layer of curb appeal. As much as it may make you proud, keep your yard neat and simple. At the point of buying a house, people are very financially-sensitive and they may get turned off by the potential cost of maintaining a rich garden.

The Details

These details include anything you find interesting. You can replace your old mailbox and buy a birdhouse. While you are trying to advertise as a low-maintenance neutral and loved-by-all property, you still need something to single you out from the crowd. A birdbath may be a good centerpiece for a flower bed or a patch of shrubs. Look into finding appropriate garden art. Use decorative solar lights alongside the path. If you do not have one, build or simply set up a picket fence. The fence could look booth romantic and stylish, but it will above all add the sense of privacy to the property and lots of curb appeal. While most new homeowners may be eager to get introduced to the neighborhood, they will still want to do it at their own pace.

Remember that you are not alone when selling a house, your realtor is in it as well. If you have any doubts as to what touch-ups you should do to increase the property’s value, ask them, they know the market. It is in both of your best interest for the property to reach its top price and be sold as fast as possible.

Source: The post Curb appeal – the best advertising tool of the trade is copied from AppraisalNewsCast, a real estate news blog.

 

Can A Business Serve A Community?

 

When someone starts a business, he may does it for many reasons but one of the most obvious reason is to earn a lot of money or in term of business, I can say to earn profit. Whatever that person does, he only focus to maximize his profit. But we should not forget that there are some businessmen who not only do business but also play their role to serve the community. This way they acknowledge the appreciation of the community which they receive from them. I am going to discuss a case study over here. This one company has done some inspiring acts and proved that business can be done along with serving the people with whom you are dealing with.

The company I am going to discuss as an example is CoesterVMS, an appraisal management company in US, owned by Brian Coester. CoesterVMS has done some remarkable and kind acts to serve people. One of them is Louisiana Disaster Relief during the flooding in the Gulf region of Louisiana which left many people homeless and with no access to essentials such as potable water. The company took the initiative under the supervision of Brian, and donated 144 cases of clean water to the Capital Area United Way in Baton Rouge.

Brian is a kind of person who never forgets his roots. That is why he kept the headquarter of the company in Rockville, Maryland. He thinks that education is a must for every child in United States and quality education is not possible without better learning environment. He and his company provided cleaning materials with over 90 volunteers to help makeover four schools in Montgomery County and four schools in Virginia.

An American without patriotism is no American at all. Brian and his CoesterVMS always feel proud of being American. They recently partnered with Alpine Cares to sponsor a charity golf tournament to raise money and awareness for these American heroes. This money will be used to provide amphibious wheelchairs to disabled veterans. There is no full stop here, not yet and I hope never will be. CoesterVMS joins hand with United States Marine Corps in Toys for Tots program no recent Christmas and distributed 100s of toys among needy kids who otherwise can not afford to have them.

These are few of the many acts, Cesters used to do time to time. Its the comapny's vision that never stop inspiring and never stop doing great things. Be the best whether as a businessman, an organization or a citizen. For more details about above mentioned charitable acts, visit CoesterVMS blog.

What Happens When Inventory Remains Low

The Washington D.C Metropolitan area, including Maryland and Northern Virginia, has experienced an increase in median sales price compared to this time last year. According to Brighton MLS Housing Data, the median sales price increased 1.1%, or $4,900, to $439,900 setting a new July record. The number of closed sales increased 2.2% to 5,157, new listings increased 0.9% to 6,282, and the number of active listings decreased 6.1% to 10,272 compared to July 2016. According to NVAR, the ratio between average sales price and original list price for this region is at 98%, which can be seen as a good indication of accurate pricing. While the market is performing well in many areas, the inventory shortage continues to be a problem. According to WTOP, the area saw a double-digit decline in active inventory compared to last year, most prominently in Prince George’s County (33% decline), Loudoun County (23% decline), and Prince William’s County (23% decline).

Expert Opinion of Wen Li

Wen Li has been an appraiser for the past 15 years, and began his career as a contractor. Wen has serviced the Maryland, Virginia, and Washington D.C area as both a certified appraiser and a licensed home inspector, and has become well versed in many different types of assignments over the years. From FHA 203K’s to pre-foreclosures, and from rural areas to suburban neighborhoods, Wen enjoys the diversity the market brings. According to Wen, the most important aspect of being an appraiser is constant education, and to maintain professionalism with every assignment.

Source: This article is the property of CoesterVMS.net which is the official blog of CoesterVMS.com. CoesterVMS is a well known appraisal management company in USA.

 

 

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