THREE BIG MISTAKES FOLKS MAKE WHEN THINKING ABOUT A HOME PURCHASE

MISTAKE #1

Falling in love with a home before determining how much they can afford.

It’s always fun to browse on line or stop by open houses, but when it’s time to get serious it’s important to find out where you stand financially.  It’s hard to compare the $400,000 home that you loved to the $200,000 home you can afford! 

Don’t let this happen to you! 

Talk to a lender, be open and honest about your situation.  If they don’t ask to review ALL of the financial documents that could have a bearing on your approval, move on.  Find a lender who will help you to navigate the process.  Find a lender who will review your credit score to see if there are any steps you can take to improve your scores for a better loan.  Find a lender who cares about you and helping you to get the best loan

ASK QUESTIONS!

Mistake # 2

Considering the maximum they qualify for instead of what their comfortable monthly payment might be

Consider Your Lifestyle-Don’t be house poor!  What do you like to do?  Go out to eat, special hobbies, kid’s education, savings?  What additional expenses are coming up? New car, new baby?  In-laws moving in?  Will you be getting a raise? A new job? A second income? An inheritance?   All of these things should be considered.    

What is comfortable? Only you can answer this question!

Don’t forget to speak to your tax advisor about the tax benefit of homeownership, this may help stretch the budget.

Speaking of budget, that leads me right to the third mistake.  

MISTAKE #3

Failing to budget.  

You may be amazed at how many bank statements I review that the outgo matches the income almost to the penny-Starbucks every day, McDonald’s, Old Navy, Target.  Folks forget to save money.  $5 here, $10 there adds up and could keep you from buying a home that you love! 

TIP:  Overdrafts can be a loan killer…keep track of those purchases and DON'T overspend!

Many folks thinking about a home purchase consider the down payment (Did you know you DON'T need 20% down to buy?), but they don’t consider out of pocket expenses, earnest money deposits, appraisals, home inspections.  They forget about the cost to purchase including closing costs, prepaid expenses and setting up escrow accounts for homeowner’s insurance and property tax payments. The seller can contribute toward closing costs, if negotiated into the contract.  How much they can contribute can depend on the type of financing.

In some cases, owning a home will cost less than renting.  In others, folks are moving up and moving out…this means more monthly and bigger annual and one-time expenses than you may be used to, more maintenance costs and higher utility bills.  Don't forget about those unexpected expenses when something breaks down or needs replacing, you won't be able to call the landlord!  Budgeting is key to being ready for home ownership!

If you are thinking about buying in a month or in a year, talk to a great lender in your area to find out where you stand and what steps you can take to be MORTGAGE ready. 

Holly Hurd~ 

Is a REALTOR with Coldwell Banker Weir Manuel
in Northville, Michigan 48167
#1 Firm in MICHIGAN

hollyhurd@hotmail.com

Sell / Buy a home in Northville,Michigan register today at

www.Northvillehomes4sale.net

Holly Hurd ~Living in the Northville, Michigan area for 40+ years , Holly Hurd is graduate of Northville High School, Schoolcraft College, Michigan State then raising her own family here Holly Hurd has first hand knowledge and knows the area quite well Please feel free to contact her for all your real estate needs #homerocks #YourHome

Northville Michigan Real Estate
Homes for sale in Northville Michigan Northville, Mi. 48167
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Coldwell Banker Weir Manuel Blue Matter / The part of the brain that thinks about real estate

Rising rates, prices panic would-be homeowners

Call them white-knuckle buyers -- shoppers worried that their chance to own an affordable home is rapidly fading.  

Just a couple of weeks ago, that seemed like a realistic plan for these first-time homebuyers.

But then interest rates suddenly spiked. In just one week, from June 20 to 27, the average rate for a 30-year fixed-rate mortgage grew faster than at any time since 1987, from 3.93% to 4.46%. Before that, rates had stayed below 4% since November 2011.

Rates have fallen back a bit since, but so far only a smidgeon. This week, the average rate on a 30-year fixed rate has dropped slightly, to 4.385%, according to MSN MONEY.

Caught by surprise, homebuyers are reeling. All of the sudden, they're getting considerably less for their money. The response, for many, is panic. Applications to refinance "tumbled," according to Capital Economics, but the demand for financing from homebuyers is unchanged.

Changing expectations

With rates going up from 3.75% to 4.5%, the same buyer who would quality for $140,000 now will qualify for a mortgage in the $125,000 to $130,000 range.

Nationally, home prices rose 12.2% from May 2012 to May 2013, says a new report from CoreLogic. Almost every U.S. market now is participating in the recovery, with prices up in 97 of the top 100 largest metros.

Anguished buyers who were prequalified to borrow one amount find that, by the time they locate a home, their purchasing power has shrunk. To keep up with the competition, they're forced to add cash to their offers. If they have it.

Holly Hurd is a REALTOR with Coldwell Banker Weir Manuel in Northville, Michigan 48167
hollyhurd@hotmail.com
 www.Northvillehomes4sale.net
Holly Hurd ~Living in the Northville, Michigan area for 40+ years , Holly Hurd is graduate of Northville High School, Schoolcraft College, Michigan State then raising her own family here Holly Hurd has first hand knowledge and knows the area quite well Please feel free to contact her for all your real estate needs

New Legislation Affecting Foreclosure Redemption Period

Despite a significant decline in foreclosures, some homeowners are still struggling to keep their homes today. RealtyTrac data suggests that Michigan currently has 50,759 mortgages in foreclosure. Our housing market is recovering, but it is still fragile in some areas.

Under the present system, Michigan homeowners facing foreclosure have a ninety day pre-foreclosure workout period prior to receiving a foreclosure notice from the lender.

During this time, the homeowner can pursue a mortgage modification with their lending institution. Beyond that, there is a six month redemption period during which the homeowner can redeem the property by paying off the debt or selling the property via a short sale.

But this week, state lawmakers are reviewing changes to our foreclosure laws.

There have already been several hearings for the four-bill package known as Senate Bills #380-384 and House Bills #4764-4767.

Part of the package (SB 383 specifically) contains legislation concerning shortening the length of the redemption period from six months to sixty days.

Just this morning the Senate passed SB 383, with an amendment.

Senate Bill 383 will keep the six month foreclosure redemption period intact; however, an amendment to the bill now provides lending institutions the right to perform an inspection on the property after it goes to Sheriff Sale. This ensures that the property is being kept up and is not being stripped of valuables. If the bank finds that the home has been stripped or vandalized, it may take the homeowner to court to accelerate the redemption period.

However, if the property is being properly maintained, the homeowner can utilize the entire six month redemption period to pursue a short sale or other options.

Opposing Viewpoints:

Those who supported shortening the redemption period, including Michigan banks and financial institutions, maintained that a homeowner’s best chance at saving his home is at the beginning of the foreclosure process. They note that new federal regulations set to start January 2014 would require lenders to wait 120 days before sending the first notice or filing the foreclosure, thus helping many avoid foreclosure altogether.

They also claim that the current length of the redemption period leads to more abandoned homes and community decay.

And finally, many delinquent homeowners continue to live in their homes for extended periods of time without making payments, much to the dismay of their lenders.

Among those who voiced concerns over shortening the redemption period was the Michigan Association of Realtors® (MAR). MAR believed that shortening the redemption period would have a negative effect on those trying to avoid foreclosure, especially those considering a short sale.

The short sale process of marketing the home, negotiating an agreement of sale and then acquiring bank approval normally takes longer than sixty days. MAR feared that shortening the redemption period could eliminate this option for many.

Maintaining the short sale option for those in foreclosure is important because they sell at a much smaller discount to the market than foreclosures (roughly 10% compared to 40%). Passing this legislation could further destabilize the market and reduce home values.

Keep watching:

The House committee is expected to vote on this issue later today.

I will keep you posted on developments.

Holly Hurd is a REALTOR with Coldwell Banker Weir Manuel in Northville, Michigan 48167
hollyhurd@hotmail.com
 www.Northvillehomes4sale.net
Holly Hurd ~Living in the Northville, Michigan area for 40+ years , Holly Hurd is graduate of Northville High School, Schoolcraft College, Michigan State then raising her own family here Holly Hurd has first hand knowledge and knows the area quite well Please feel free to contact her for all your real estate needs

HERE IS A LIST OF "12 DO NOTS " EVERY HOME SELLER SHOULD KNOW

1) Don't overprice your home.  It will cost YOU money!  Do not go with the agent that tells you your home is worth more then the market will produce.

2) Don't be surprised if the first offer on your property is the best offer you receive.

3) Don't let your property sit on the market too long before making a significant change in price (or it will get stale).

4) Don't think all real estate agents and companies are created equal...they are NOT.  Find an agent/company with a great track record and proven home marketing system.

5) Don't list with a real estate agent just because they charge the least or the most.  Look for the best VALUE.  Consider the company's track record with sellers and buyers.

6) Don't look just at the price the buyer offers.  Analyze the total package including buyer qualifications, contingencies, closing dates, etc..

7) Don't forget buyers will shop around looking for the best buy.  You are in competition with other sellers for your buyer's attention.

8) Don't forget that if real estate agents don't see your property as a good value, they will take their buyers elsewhere.

9) Don't believe those who tell you newspaper ads sell homes.  You need a COMPREHENSIVE marketing plan tailored to your property and your needs.

10) Don't make it difficult for agents and buyers to see your home.  Buyers want to look at their convenience.

11) Don't overlook the value of MERCHANDISING your home...make it look its VERY BEST!

12) Don't forget that you control the pricing of your home, how it looks and the overall marketing plan.  But it is the BUYERS who control value.  If buyers won't pay your price, the house remains yours.

Holly Hurd

hollyhurd@hotmail.com

www.Northvillehomes4sale.net 

A Shortage boosts prices of houses in metro Detroit

A shortage of move-in-ready houses and condos continues to drive up metro Detroit home prices.
Newly released figures show the median February home sales price was $80,000 in the four-county region of Wayne, Oakland, Livingston and Macomb.
That price was the same as January, but a 38% increase from the median sales price of a year ago, according to data compiled by Realcomp, a Farmington Hills-based multiple listing service.
The highest year-over-year jump was in Oakland County, where prices rocketed 47% to $139,770. Washtenaw County was not included in the data.
HOLLY HURD attributes most of the price rise to the small supply of for-sale homes.
The inventory of available homes in the metro area last month was 14,544, or 25% fewer properties than a year ago, according to Realcomp.
There are fewer short sales and foreclosure sales these days.  We have not seen them hitting the streets like we used to.
Yet despite the increases in home prices because well mainly of a lack of inventory, prices have a long way to go before all owners who are underwater on their mortgages can sell without taking a loss. If you have a home or condo HOLLY HURD will sell it, I will get top dollar for you  in today's marketplace, although not what it was at in 2005.  Indeed, home prices in metro Detroit remain 37% below their December 2005 peak and 20% below 2000 levels.


Holly Hurd ~Living in the Northville, Michigan area for 40+ years , Holly Hurd is graduate of Northville High School, Schoolcraft College, Michigan State then raising her own family here Holly Hurd has first hand knowledge and knows the area quite well Please feel free to contact her for all your real estate needs.

www.Northvillehomes4sale.net 

NORTHVILLE MICHIGAN MY HOMETOWN

NORTHVILLE, MICHIGAN~ Northville is an affluent city located in and divided by Oakland and Wayne counties in the U.S. state of Michigan. The area is a suburb of Metropolitan Detroit. The population was 5,970 at the 2010 census. Most of the city is in Oakland County, and is surrounded by the city of Novi. The Wayne County portion is surrounded by Northville Township. Northville is served by Northville Public Schools. The city is located 21 miles northeast of Ann Arbor and 29 miles northwest of Detroit. Growing up in Northville, Michigan for over 40+ years I know first hand Northville was once a very small town most know for the race track (northville downs) with a wonderful downtown area. I have watch this once small town flourish into a great community but still maintain is small town Victorian charm, you could say it is "a town where everybody knows your name"

I consider NORTHVILLE, Michigan an excellent place to reside and would love to share with you my enthusiasm for the many neighborhoods that encompass it. I pride myself As a Real Estate Professional, I am dedicated to giving exceptional service to all sellers and buyers. I really enjoy seeing peoples dreams fulfilled. The process of buying a home should be a positive one, and I do my best to make that dream a reality. I will do everything I can to earn your trust and friendship..I WILL GIVE YOU 110% because you are the customer....
warmest regards,

Holly Hurd

www.Northvillehomes4sale.net 

Call to Action for Homeowners... We Need More Homes for Sale

Today's News Headlines coupled with a continuously changing real estate market,  is once again, creating a slowing in the market.  Ask any local Realtor and undoubtedly you will receive consistent responses such as:   "The supply of homes for sale is the lowest we have seen in years"    " We receive multiple offers within a matter of days on many of our listings"   "Our Buyers are extremely frustrated because they lack homes to choose from"    

HOLLY HURD  like most area professionals is working with several buyers who are ready, willing, and able to Buy Now!   Many homeowners may not realize that we have experienced several months of recovery.  Prices have increased in several locations and price ranges.   Supply and Demand has created  Seller's Market in certain price brackets.    Now may be The Best Time to Sell Your Home. Call me Holly Hurd today and we can get started marketing your home to get you top dollar in todays market .

www.Northvillehomes4sale.net 

HOLLY HURD        (734) 718-5736

Coldwell Banker Weir Manuel

201 Cady Center st

Northville Michigan 48167

Top 10 Worst Home-Showing Offenses

Here are the 10 most common responses from buyer’s agents when asked about the worst mistakes they see when presenting for-sale homes to clients:

1. Leftover home owners

By far, one of the top offenses cited by buyer’s agents was home owners still lingering around when agents arrived with clients to preview the home. Awkward encounters ranged from buyers finding sellers taking a shower, asleep in the bed, to even the “stalker sellers” who liked to follow buyers and the agent all over the home to see what they thought.

With the exception of the “stalker seller,” many of the home owners who were still at home blamed their listing agent for not giving them enough advance notice about the appointment prior.

2. Pets and their messes

 The not-so-friendly dog and kitty encounters as a top offense. Even pets left in a crate can pose a distraction since they might make noise the entire time others are in the house. Plus, if they seem mean, the buyer might not even step in the room. My suggestion is if you have a pet take out of the property for all showings.

Vicki Robinson, ABR, CRS, broker with Fonville Morisey Realty in Raleigh, N.C., says she recently was given showing instructions from a listing agent who told her the family’s “friendly dog” would be at home. But when Robinson unlocked the front door with her client for the showing, a pit bull was staring down at them from the top of the staircase, growling. “We closed the door and left!” she says.

3. Bad smells

A displeasing smell can really turn buyers off. Common offenses include cooking smells lingering around the home, such as garlic, fried bacon, or fish. Also, watch for cigarette smoke and animal smells.

4. Critters running wild

Wild animals and pests roaming around is a surefire way to send buyers running. I remember one home had worms crawling on the floor and bats and raccoons lounging in the attic. 

5. Odd home makeovers

Do-it-yourself disasters were also prevalent, like doors opening the wrong way or unprofessional paint jobs. Also, rooms not being used for their intended purposes can confuse buyers, such as an office being used as a bedroom even though it has no closet.

6. Dirt and clutter

There were a number of offenses cited when it came to cleanliness: Dirty laundry piles, unflushed toilets, dishes on the counter or in the sink, unmade beds, clothes scattered about, soiled carpets, dirty air conditioner filters, and overflowing trash cans.

“One of the worst things I have seen is piles and piles of clothes in every room,” It was like an obstacle trying to walk around the mess. It is very important to keep it clean.

7. Personal information left in plain sight

Sellers should be careful not to leave in plain sight important documents that may pique buyers’ curiosity. Some agents say they’ve seen personal information like bank and credit card statements—even mortgage payoff notices—left on the kitchen counter.

“Buyers are nosey,”  sometimes  “I’ve even seen the contract for the sellers’ next purchase sitting on the kitchen countertop or ‘final notice’ bills.”

8. Too dark

Dark or dimly lit houses aren’t showing the home in the best light.

“Particularly [homes lit with] CFL bulbs," By the time [the bulbs] light up, the buyer is gone. Energy efficient bulbs need time to warm up before they are at their brightest, so staging professionals usually recommend agents arrive early to a showing to turn on any light fixtures with CFL bulbs at least 10 minutes prior.

9. Keys missing from lockboxes

All too often, agents arrive at a listing appointment with their client only to find there’s no key to get in. “I actually had a [seller’s] agent who wanted me to open the door for my clients by going through the dog run as a large dog barked like crazy.” 

10. Distracting photos

Watch the photos displayed on the walls too as I am recalling showing a family a home that had life-sized, nude photos hanging, which left my clients racing for the door covering their eyes.

I also recall showing a home to a client, who was staring at a painting in the master bedroom of a woman in lingerie. “Isn’t that the owner?” the client asked. “She was also the real estate agent!” 

www.Northvillehomes4sale.net

HELP YOUR PET ADJUST TO YOUR NEW HOME

Moving to a new home can be a difficult transition for everyone in the family, including the furry, four-legged members.

Dogs and cats develop a strong bond with their environment so when they are relocated from their territory it can cause them stress.

Here are some tips to ease your pets’ transition to a new home :

Keep Your Mood Calm 
Pets are very tuned-in to your emotions and will sense your mood. If you are stressed throughout the moving process, your cat or dog will pick up on this and it will make him anxious. Try to remain calm and give your pet plenty of attention and reassurance during the process of moving.

Transporting Your Pet 
A few weeks before the move, introduce your pet to his pet carrier so that he becomes familiar with it. It will be much less scary for him to be transported in a carrier, which already has recognizable smells and perhaps a favorite chew toy or blanket inside. When you are moving your pets to your new home, it is a good idea not to feed them for about three hours before setting off, as this can help to prevent accidents while in transit.

Upon Arrival 
When you get to your new residence, place your pets in one room of the house and provide them with water, food, and a few familiar possessions. Keep them in a closed room while you move things in, as the process of moving boxes and furniture can be chaotic and doors can be left open. Once everything has been moved in, you can take the time to give your pet some one-on-one attention.

Dogs find routines comforting, so try to stick to the same schedule of feeding and walking in your new home. Cats will want to explore and rub their scent all over the house to claim it as their territory. A cat might attempt to return to its old home after a move, so keep it indoors for a few weeks at first.

These are just a few ways that you can make moving to a new home a better experience for your beloved pets. If you’d like more suggestions for helping your pets and family adjust to a move, call or email me with your questions.

HOLLY HURD

hollyhurd@hotmail.com

www.Northvillehomes4sale.net

I Love Listings

* The Last 10 Properties Sold in Your Area ( And Their Selling Prices)
If you are selling a residential property in or around the Northville,Mi. 48167, 48168 area
 Request this report from me Holly Hurd Realtor at Coldwell Banker Weir Manuel Northville office. I can collect this valuable information for you so to help gage current market trends ~ My Real Estate expertise and many effective marketing programs will give you the exposure and edge you need to sell your property quickly and for top dollar. My marketing is second to none and has been tested and studied time and time again for maximum results with over 40+ years area experience I know the market well ~

I consider S.E. Michigan an excellent place to reside and would love to share with you my enthusiasm for the many neighborhoods that encompass it. I pride myself on providing unparalleled service and look forward to developing a long~term relationship with you. Please feel free to contact me if you would like to discuss how I can best assist you with your real estate needs

warmest regards,

                                Holly Hurd

www.Northvillehomes4sale.net 

www.northvillemichigan.co

www.northvillemichigan.info

#1 in Market Share again in YTD for Northville/Novi‏

Coldwell Banker Weir Manuel ~ #1 in Market Share again in YTD for Northville/Novi

5 Reasons you should save for a big down payment

Most homebuyers finance most of the home's purchase price however there are several benefits to waiting to purchase until you have enough for a down payment of 20% or more!  Here are 5 good reason to save:

1. Reduced mortgage payments
The more you put down on your home upfront, the smaller your mortgage payments will be. That could help your monthly budget. More important, you could save thousands of dollars in interest in the long run. For example, on a 30-year mortgage at 5% interest, putting an extra $10,000 into the down payment will save you $9,325 in interest payments over the life of the loan.

2. No mortgage-insurance fees
If you want to contribute a smaller down payment than the traditional 20%, most lenders require that you take out mortgage insurance. This insurance protects the lender in case you cannot pay your mortgage. Federal insurance programs are available to qualified purchasers, in addition to private insurance options. Mortgage insurance can be expensive, ranging from 0.5% to 1% of the home's value annually to several thousand dollars per year. The insurance premiums are an extra cost of the mortgage and are not applied to the mortgage balance.

3. Lower interest rate
Lenders often offer better interest rates to borrowers with a lower loan-to-value ratio, or the percentage of the purchase price that you're financing. An increase in your down payment lowers the ratio and reduces the risk to the lender that you will be unable to pay your full loan balance. Lower interest rates can also save you money over the life of the mortgage.

4. Ability to ride out financial crises
The future is unpredictable. You may encounter a personal financial crisis, such as job loss or illness, that can impair your ability to pay your mortgage. If you have equity in your home because of making a large down payment, you can better weather a financial storm. The mortgage payment will be smaller, and you could borrow against the equity, if necessary. If you borrowed the maximum possible based on two incomes, you could face financial stress and perhaps even foreclosure.



5. Less risk when selling
Real-estate values can move up or down after you buy your house. If the market is in a down swing and you have to sell your house, you may find that your mortgage balance is higher than the value of your home. This is known as being "upside down" or "underwater" on your mortgage. This situation gives you less flexibility in accepting offers and may make it difficult to sell your home and pay your mortgage.


Taking the time to save money for a down payment on your mortgage is a solid investment. It can save you thousands of dollars over the course of the mortgage and can put you on more solid financial footing.

Nearly seven years after the housing bubble burst, most indexes of house prices are bending up.

The housing market has turned—at last.

The U.S. finally has moved beyond attention-grabbing predictions from housing "experts" that housing is bottoming. The numbers are now convincing.

Nearly seven years after the housing bubble burst, most indexes of house prices are bending up. "We finally saw some rising home prices," S&P's David Blitzer said a few weeks ago as he reported the first monthly increase in the slow-moving S&P/Case-Shiller house-price data after seven months of declines.

Nearly 10% more existing homes were sold in May than in the same month a year earlier, many purchased by investors who plan to rent them for now and sell them later, an important sign of an inflection point. In something of a surprise, the inventory of existing homes for sale has fallen close to the normal level of six months' worth despite all the foreclosed homes that lenders own. The fraction of homes that are vacant is at its lowest level since 2006.

Builders began work on 26% more single-family homes in May 2012 than the depressed levels of May 2011. The stock of unsold newly built homes is back to 2005 levels. In each of the past four quarters, housing construction has added to economic growth. In the first quarter, it accounted for 0.4 percentage points of the meager 1.9% growth rate. 

Now bringing this to our own backyard if you will right here in Northville, inventory is down and the statistics just came out that the housing prices are up about 21.5% from last year at this time.

So if you are out there wondering if you should purchase or wait, it is probable a good time to purchase a condo or a home here in Northville, Michigan 

THE TOP TEN HOME IMPROVEMENT MYTHS

1. Any remodeling project will add value to your home.

While many remodeling projects will add value to a home, some can be seen as a negative by future buyers. For instance, combining two smaller bedrooms to create one larger bedroom may better fit one homeowner’s lifestyle today, but it may cause the home to lose value in the eyes of a future buyer who needs the two separate rooms.

2. Buying the highest-quality materials attracts more buyers.

Installing high-end materials may seem like a wise decision, but it can backfire. For instance, using the most expensive tile in a bathroom may create an impressive appearance, but value-conscious buyers may opt for a more affordable home if the seller has over-improved compared to others in the neighborhood.

3. Adding square footage always adds value.

A better way to think about this statement is to insert the word useable into the sentence. Finished attics and basements – even if considered liveable by local standards – may not be attractive to a buyer if they are not finished to the same standards as the rest of the home.

4. Colors and textures – safe and simple is better.

Keeping a home “vanilla” so buyers can choose their own style and décor might be a safe bet, but it ignores the fact that most buyers just don’t have the ability to visualize the home differently. Without splashes of color and mixtures of texture, sellers can lose value to others that have taken the time to consult with an interior designer.

5. Inside improvements are better than outside improvements.

Not necessarily. If a home’s exterior has been neglected or doesn’t offer a good curb appeal, a buyer might stop there – and then the seller’s efforts on on the inside may not net them any more dollars. To get the biggest bang for their remodeling buck, sellers should start from the outside and work their way in.

6. Adding a bedroom is better than adding a bathroom.

It depends on the starting point. If a seller only has one or two bedrooms to start with, adding a bedroom before adding a second bath is probably a wise choice since most buyers are more attracted to three-bedroom homes. On the other hand, if the home already has three bedrooms and only one bath, the sellers’s next investment should probably be in a new bathroom.

7. Paint hides a multitude of sins.

Dry rot? Fungus damage? Mold problems? Carpenter ants? Termite issues? Nothing a can of paint can’t fix, right? Wrong! Not only does this practice violate disclosure laws in most states, it can set sellers up for liability after the sale, as most buyers will want the sellers to foot the bill for these hidden issues.

8. Converting a garage to living space is a great trade-off.

Nope. A garage conversion is almost always viewed negatively by future home buyers unless the sellers replace the lost garage with another parking and storage space of equal size.

9. Sellers can save money by doing improvements themselves.

For some homeowners, wiring a new lighting fixture or plumbing a new dishwasher is a no-brainer, but for others it may end up costing more later if they have to have the work redone by a professional. Another consideration is local and state laws regarding remodeling work: In many states if a buyer has purchased a home to remodel and resell, they must either hold a contractor’s license or hire a contractor to do the work for them.

10. Pools add value to your home.

This is only true in areas where pools are must-have amenities. In most areas of the country, pools have more limited appeal – and the idea of maintaining a pool for ten months out of the year when it can’t be enjoyed won’t appeal to most buyers.

Knowing these top home-improvement myths will allow you to choose the right remodeling projects. You can always contact me directly with any questions or concerns 

warmest regards,

Holly Hurd