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August 2016

 

Hope you have been enjoying your summer - I know I have!

Whether you are looking to buy or sell, I can offer the highest levels in real estate expertise and professionalism. Inventory is low & now is a good time to sell. Don’t hesitate to contact me and allow me to help guide you through that process!

Jean Monahan
Real Estate Sales Professional
jean.monahan@verani.com

C:603-289-7829|O:603-434-2377
http://www.themonahangroupre.com/

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FINANCIAL TIP

Don’t Overprice Your Home

One of the most well-known real estate mantras your real estate professional will tell you is this: “If you overprice your home, it will take longer to sell and it will sell for less money.” Yet, many sellers believe their homes can defy market physics.

Overpricing seldom works because buyers search for homes online according to their loan qualifications. If their ceiling is $500,000, they’re not going to search for more expensive homes, and your home won’t be found by the buyers who are most qualified to buy it. When buyers can afford more, they’ll compare your home to other homes in the same price range and your home may fall short in features, location or condition.

Search price increments vary depending on scale. Buyers use $10,000 increments for $100,000 homes and $100,000 increments for million-dollar homes. Pricing just over a logical range end point like $255,000 or $505,000 will exclude that home from some search results. If you price just under a range end point, like $498,000, your home will be seen by the buyers who are most likely to buy your home.

While some buyers’ search in higher price ranges than their rounded end point, their intention is to offer less, so that makes setting a higher price for your home counterproductive.

Your best chance of selling your home quickly for the highest price possible is to attract buyers who see your home as well priced. You’ll attract more serious buyers who make higher offers with fewer negotiations.

HOME IMPROVEMENT TIP

Kitchen Trends for 2016

Homes with all-white kitchens look great in magazines, but a recent survey found they’re not popular with homebuyers because of upkeep. So, before you paint your kitchen, replace your countertops or install new cabinets, use these helpful hints to make your kitchen more appealing as well as more user-friendly.

Set the tone. Think about your kitchen’s functionality and personality. Dark walls or cabinets tend to be more elegant and formal. Bright colors are cheerful, playful and family-friendly. If you like white, add some soft color in a glass backsplash.

Gray areas. According to Lowessemployees.com, the most popular colors and materials in kitchens floors are gray, charcoal or espresso ceramic, stone and hardwood.

Quartz, not granite. Manufactured quartz is the leading countertop material, according to the National Kitchen and Bath Association. Quartz is tougher, easier to maintain, offers numerous colors and patterns, mimics the high-end look of granite, and it’s more earth-friendly.

Colorful appliances. Houzz.com reports that bold color in sinks, backsplashes and accents is replacing neutrals. You can get a Viking range in orange, or go retro with Elmira Stoveworks’ faux-1950’s appliance, in turquoise.

Clean lines. Flat-panel or Shaker-style door treatments help streamline the kitchen. Choosing shelves in place of a few upper cabinets allow pretty dishes, glassware, and wall paint to show.

Light. More windows and light never hurt, but you’ll also need task lighting, whether in overhead lights, track lighting, pendant lights or under cabinet lights.

Before you choose hue-rich appliances, countertops, cabinets, or new paint, make sure you try color samples under the same lighting you’ll be using in your kitchen.

HOME IMPROVEMENT TIP

Raising the Roof-Over

They’re called “roof-over jobs” and they’re more common than you may think. In some areas, codes allow homeowners to install a new roof on top of an existing roof, but it’s not necessarily a good idea.

While it can save homeowners money, roof-overs don’t provide the same protection as a single roof where the previous roof has been completely removed. While many building codes allow for up to two layers of asphalt roofing, for example, some homes may not be structured to handle the additional weight. All layers must be removed before a new roof system is installed, if weight is going to be an issue.

There are other concerns. Some manufacturers will not warranty a roof-over because the substrate may not be smooth, flat and clean enough. Insurers may also decline to either insure the roof-over or pay for roof damage if there are multiple layers.

If you’re buying a home with a multilayered roof, it’s difficult for structural inspectors to do a thorough inspection. This means fissures and leaks could be easily missed. Asphalt roof-overs also super-heat in the summer, which causes buckling that leads to leaks.

So what do you do if you’re buying a home that needs re-roofing? The home inspection should reveal any roofing issues, including layers. The inspector will tell you the building codes for roofs in your city and what your options are. If you’re buying in a community managed by a homeowner association, there may be additional restrictions on the type of materials you may use.

Ask your Berkshire Hathaway HomeServices real estate professional for more information.

FINANCIAL TIP

The Three Percent Down Mortgage

How much are you planning to put down on your next home? If you say 20 percent, you could be living in the past. Since Fannie Mae and Freddie Mac introduced 3% down mortgages nearly two years ago, the product has gained in popularity.

The three-percent mortgage, also known as the Home Possible Advantage program, allows first-timers and other qualified homebuyers to get into a home much sooner and allows homeowners to take their remaining down payment monies to use for other purposes – savings, furnishings, student loan payments, etc.

Anytime the down payment is less than 20 percent, borrowers should realize that their monthly payments become more significant. You’re financing a larger amount, which raises your debt profile and your financial risk if you want to finance other things like vehicles or college.

Fannie and Freddie require borrowers to purchase private mortgage insurance (PMI). While that raises the monthly payment, it makes low down payment loans attainable, allowing more people to enjoy homeownership. Along with mortgage interest, PMI payments are tax deductible for long-form filers. Last, PMI can be discontinued when the loan is either five years old, or if rising home prices have allowed the borrower’s equity position to reach 20 percent.

Building equity, which is like a homeownership savings account, takes time. You can build equity by paying down your mortgage, by improving your home, and by allowing home appreciation to work in your favor. But you have to be invested to get this major benefit of home ownership.

Recipe

Stuffed Mushrooms

Makes 12 Large Mushrooms

Ingredients:

12 whole fresh mushrooms

1Tbsp vegetable oil

1Tbsp minced garlic

1 (8 oz) package cream cheese, softened

1/4 cup grated Parmesan cheese

1/4 tsp ground black pepper

1/4 tsp onion powder

1/4 tsp ground cayenne pepper

Directions:

Preheat oven to 350 degrees F. Spray a baking sheet with cooking spray. Clean mushrooms with a damp paper towel. Carefully break off stems Chop stems extremely fine.

Heat oil in a large skillet over medium heat. Add garlic and chopped mushroom stems to the skillet. Fry until any moisture has disappeared; do not burn garlic. Set aside to cool.

When garlic and mushroom mixture is cool, stir in cream cheese, Parmesan cheese, black pepper, onion powder and cayenne pepper. Mixture should be very thick. Using a spoon, fill each mushroom cap with a generous amount of stuffing. Arran ge the mushroom caps on prepared cookie sheet.

Bake for 20 minutes in the preheated oven, or until the mushrooms are piping hot and liquid starts to form under caps.

Bring to all the end of summer barbeques & ENJOY!

 
 
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