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Casey Taylor

Putting Off These Home Repairs Could Be Dangerous – Have You Addressed Them?

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For all homeowners, adhering to a regular maintenance schedule and making repairs as soon as they are needed are effective ways to avoid costly disasters. When your home is on the market, however, it is particularly important to resolve problems before they escalate. Damage to the appearance or structural integrity of the property is every home seller’s worst nightmare.

Although there are some fixes – like updating appliances or adding a fresh coat of paint – that are not urgent, other maintenance issues could become dangerous if not addressed. Here are a few home repairs that you need to deal with as soon as possible:

    • A leaky roof. If you’ve noticed your ceiling leaking when it rains, your roof is most likely in need of repair. Not only is a leaky roof a nuisance, but it can cause mold growth and structural damage, and could even start a fire if water makes contact with electrical wiring. At the very least, you could face water stains on the ceiling or walls when trying to show your house – a glaring red flag for buyers. Even if your roof is not yet leaking, it may be a good idea to have it inspected for problems like damaged or missing shingles. Storms and wind can compromise shingles, causing leaks and other problems in the future.
    • Faulty electrical wiring. Seemingly harmless problems like flickering lights or outlets that are warm to the touch may indicate serious threats to your home. If you notice these signs, it may mean that your electrical system is overtaxed or the home is wired improperly – which could cause an electrical fire. Call an electrician immediately.
    • Clogged gutters. Keeping your gutters clean may seem overwhelming, particularly if your home is surrounded by trees. However, if the gutters become full of leaves and other debris, they will be unable to serve their intended purpose of directing rainwater away from the home and preventing damage to the walls and foundation. In addition, prospective buyers may notice the clogged gutters and assume that your home is not properly maintained. Avoid these problems by cleaning out gutters twice a year, and then using a hose to ensure that water properly flows down the drainpipes and away from your home.
    • Pest invasions. Common insects and other pests can cause significant damage to your home. For example, insects like termites can devour wood framing, while rodents can chew through insulation or even wires, creating a risk of fire. Furthermore, the waste left behind by pests may be hazardous to the health of the home’s occupants. If you see, hear, or find damage from critters, assume that you may have an infestation and contact a pest control company.
    • Gas leaks. A gas leak is an imminent emergency, since it could lead to fire or an explosion. If you notice a rotten egg-like odor – particularly in the lowest level of your home – get out of the house and call your gas company immediately.

Should You Rent or Buy a Home? Weighing the Pros and Cons of Each Option

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Should You Rent or Buy a Home? Weighing the Pros and Cons of Each Option

When you are looking for a new home, there are seemingly endless factors to consider: what is your price range? What type of neighborhood is right for you? How much space do you need? One of the most fundamental decisions you’ll face is whether to buy or rent a home.

While home ownership is often glamorized and renting is sometimes thought to be preferable only for those who cannot afford a down payment, both options carry advantages and disadvantages that warrant careful consideration. Whether you’re a renter thinking about making the transition to home ownership or a homeowner drawn to the idea of renting, it’s important to remember that this is a deeply personal decision that should take into account your lifestyle, goals, and financial situation.

Here are a few of the pros and cons of each option:

Buying

    • Pro: The chance to build equity. When you own a home and make your monthly mortgage payments, you will gradually build equity by paying down the principal on the loan. Aside from the sense of fulfillment that comes from having an ownership interest in the property, you may eventually be able to obtain a home equity loan, which can be used to meet various financial needs.
    • Pro: The possibility of profiting from your investment. Most homes appreciate in value over time. If you have the flexibility to wait to sell your home until it is worth more than you paid, you may easily walk away with a profit.
    • Pro: The freedom to customize the property. As a homeowner, you typically do not need permission to decorate, paint, and renovate your home to suit your unique style and needs. Such improvements will enhance your enjoyment of the property and may boost resale value.
    • Con: Substantially higher upfront costs. Many lenders require a down payment of 20 percent of the home’s sale price—which can amount to a hefty sum, even for inexpensive properties. In addition, you must be ready to pay for the appraisal, inspection, and closing costs.
    • Con: The risk of losing money. Market conditions are hard to predict. Even if buying a home seems like a good investment, you run the risk that it will not be worth as much as you paid when you are ready to sell.

Renting

    • Pro: Greater mobility. When you are renting, it is easier to move when your circumstances change. Even if you have to break your lease, it is less time-consuming and stressful than selling a home.
    • Pro: No risk of losing money on your investment. When you are renting, you are insulated from declines in the market.
    • Pro: No responsibility for maintenance and repairs. When something breaks at a rental property, the landlord is usually responsible for fixing it. For tenants, this means less expense and less hassle than homeowners face in similar situations.
    • Con: Continually increasing rent. Although renters do not have to pay many upfront costs when moving into a property, many landlords raise the rent each year.
    • Con: Unable to renovate the property. As a renter, if you want to change a paint color or replace the kitchen cabinets to suit your style, you cannot do so without approval from the landlord—if at all.

New Year, New Styles: The Hottest Home Design Trends Expected in 2017

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New Year, New Styles: The Hottest Home Design Trends Expected in 2017

By the end of any year, interior designers are already buzzing about which trends will be the most in-demand in the coming year. From coveted colors to architectural features, homeowners on the cutting edge begin to favor new styles as the seasons change. If your home is for sale, finding ways to incorporate the latest design trends may help you catch buyers’ attention and distinguish your property from the competition.

As 2017 begins, here are a few home design trends that industry experts believe will dominate this year:

  • Marble. Many top designers agree that marble is surging in popularity. Its appeal is amplified when paired with wood and metal, making it an excellent choice for kitchen and bathroom countertops. However, marble tends to be expensive and difficult to maintain. Fortunately, quartz and faux marble are gaining acceptance among high-end homeowners. These materials can create the luxurious appearance of real marble but are less costly and require less maintenance. If you are remodeling a kitchen or bathroom to improve your home’s appeal, consider alternative materials that look like marble—at a more affordable price.
  • Bold and bright colors. Each year, Pantone—an internationally respected authority on color in the design industry—announces a “color of the year” that is bound to be popular in a variety of applications, ranging from fashion to home decor. Although the official color of 2017 has not yet been announced, Pantone recently released a list of contenders. While 2016’s colors—Rose Quartz and Serenity—were soft, calming pastels, the Pantone experts anticipate that 2017 will be the year of bold and bright hues inspired by nature. For instance, some of the selections that have caught designers’ attention include an earthy green called Kale, a vibrant coral shade called Flame, and a bright but tranquil aqua called Island Paradise. If you are selling your home, it is not necessary to repaint entire rooms in order to feature these colors; consider using accent pieces, such as blankets or small pieces of furniture, that incorporate them.
  • Metals with warm-colored finishes. In past years, brushed metals with an industrial vibe have been the leading choice for fixtures. However, designers are reporting that homeowners are beginning to favor metals with rich finishes, such as rose gold and brass. These hues add a sense of charm and elegance to any space, and the popular look can easily be achieved by spray painting fixtures if you do not want to replace them.
  • Subway tiles. Although the trend of using subway tiles as backsplashes in kitchens and bathrooms is not new for 2017, its consistent popularity in recent years has led designers to believe that it will maintain its appeal this year. In addition to being affordable, subway tiles offer the benefit of a creating a clean and versatile palette for a variety of styles and finishes.
  • Smart features. Over the years, technology has seeped into every aspect of daily life, including the home. In 2017, high-tech features ranging from built-in device charging docks and programmable thermostats to full automation systems will become increasingly commonplace. As a growing number of homebuyers hail from the tech-savvy Millennial generation, the “smart” home trend is expected to skyrocket.

Home Maintenance

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Here are some tips to keep your home in great shape so when the time comes to sell you aren’t scrambling to get things fixed.

• Your roof is a very important part of your home. It keeps out water, insulates your home and keeps it structurally sound. Inspecting your roof on a yearly basis can save you money later on. Checking for missing or broken tiles and inspecting the flashing is so important. Also check your interior and attic ceilings for any sign of water damage.
• Your hot water heater is something we rely on but don’t think about until we don’t have any hot water! Check for sediment at the bottom of the tank and change out the water.
• Depending on how often you use your fireplace, keeping your chimney clean and inspected is very important to keep it functional and safe.
• Trimming trees around your property often will keep them healthy and you won’t have to worry during the monsoon season of them falling over, especially on top of your house.
• Checking the caulking in your kitchen and bathrooms is important as it can lead to water damage. Also check the caulking on all your windows as well.
• Washing machines are a big source of water damage. Check your lines to be sure they are not worn or have come disconnected and are working properly. Don’t forget about your dryer and clean out your vent but also the dryer hose to be sure there is no build-up.
• Test your water sprinkler system and your drip system for leaks. This will save you money on your water bill as well.
• Maintaining the chemical balance in your pool will keep it in good working order. Clean your skimmers, brush the pool and check that your vacuum in working order.
• Change your air filters regularly for better air and will keep your AC system working properly. A yearly check-up is a must. Don’t forget your exhaust hood in the kitchen.
• Test your smoke detectors and carbon monoxide detectors monthly.
• Check the foundation for cracks, settling and leaks as well as repairing cracks in the driveway and sidewalks the minute you see something before it gets too big.
• Inspect door locks, hinges, latches and repair as needed.
• Make sure your garage door is in good working order and all safety features are in place.

Phoenix Housing Market on the rise

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Phoenix housing prices have seen a substantial increase in the past 12 months with as much as 20-40% growth rates in certain parts of the city.  With limited inventory available for many new home buyers, many builders have seen an increase in sales.  As investors flocked to the Valley over the past 2 year, with housing prices at historic lows, many of the distressed properties for sale have been either scooped up as rentals or resold as “Fix and Flips”.  Investors often times going in and doing a nice re-model of the home in order to improve the property and sell to an end user.

The Phoenix housing market has a number of factors influencing home sales:

  • Price Increases
  • Consumer Demand
  • Historically Low Mortgage Rates
  • The overall improvement in the economy and job growth

First-time home buyers feel the pressure.

Many first time home buyers and buyers with a price-point under $200,000 are often getting outbid to “Cash” investors.  Many offers that are made by these cash investors are often made sight unseen.  That is because the market has been climbing so quickly that investors could buy a home, hold it and renovate it for a month or two and re-sell the house for a nice profit.  This often leaves owner occupant buyer’s left in the dust, and wondering why they didn’t get the home.  This has lead to buyer’s making “above list price” offers and hoping that they have a chance to get the home.

This activity has fueled the market in a challenging way.  Primarily it causes bidding wars that often leads to people feeling like they are paying too much for a home or even discouraged to the point that they don’t want to bother trying to purchase a home all together.  Another big challenge lends to the circumstances of an appraisal for anyone buying and obtaining mortgage financing.  Often appraisers are now forced to try and justify the higher price on accepted contracts, even though many similar comparable homes that have recently sold, have sold for less.

Opportunity still exists

Despite the rampant price increases, buyers should not be discouraged.  Many investors are realizing that the market can no longer support the quick gains as seen in the past 12-24 months and many are no longer buying.  That will leave plenty of opportunity for first-time buyers and move up buyers to find nice homes that they can purchase and enjoy.  After all- buying a home and getting a 30 year rate in the range of 3.25-3.75% will not be around forever!

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