Guest Blogger - Handyman Matters

Bathroom renovation is something that most homeowners consider at some point while owning a home. Many times, it’s one of the first things on the list to be remodeled after purchasing an older home. Given that it’s such a popular starting place, we decided we’d pinpoint the top 4 benefits to renovating your bathroom.

1. Increase the resale value of your home. Renovating a bathroom – or really any part of your home – increases its resale value. New appliances, new showerheads, updated tile – these are all cosmetic details that can improve the look and value of your home, which is an increasingly important thing to remember in a down real estate market.

2. Improve the water efficiency of your home. The majority of the water we use each day is centered around the bathroom. From taking showers and baths to flushing the toilet to brushing our teeth, we use gallons of water each day. Replacing the toilet with a low-flush model or switching out a regular showerhead for a low-flow model can drastically decrease a family’s water usage, costing less money and helping the environment.

3.  Make better use of space.  Bathrooms are often designed poorly – shoving a sink, toilet and bathtub into a tight space as easily as possible without trying to intelligently make the best use of space for the room. By remodeling, you can add more free space and cultivate a better bathroom layout – especially when you get to choose which pieces of furniture and appliances will be used.

4.  Have full creative control.  One of the biggest benefits to remodeling your bathroom, aside from the increase in resale value, is the ability to make your bathroom uniquely your own. You get to choose the cabinets and countertops. You can pick out the perfect tub or shower, and you can handpick the tile and any other design elements so that they match your home and your personality perfectly.

Remodeling a bathroom can be a fun and exciting process for many homeowners. However daunting the task of designing and installing your new hardware, Handyman Matters can help you pick out the right materials for you and your home. Call us today at 410-549-9696 to set up a phone consultation to get started.

www.handymanmatters.com/columbia

What is the deal with real estate teams?

I’ve shared my life with my athletic, sports-loving husband for over 23 years. Speaking as a person who is not athletic (that’s putting it mildly) and not sport savvy at all (I once asked Jason “What does the quarterback do when he isn’t throwing the ball?” I did not realize that there is an offense and defense and they come on and off the field during a football game), I have come to love teams.

Teams are awesome. You wear purple (or red…or maybe even gold and black! ) when you’re supporting your favorite football team. You cheer for your child at their soccer game. You might be on a team at work. Even your family is a team.

Real estate teams started forming years ago and each team has a very different feel. Most real estate teams only feature the team leader. It’s hard to figure out how many agents are on the team and who they are. That’s part of the mystery of teams. What’s really going on behind the curtain?

We’re a different kind of team. We don’t have a curtain.

You can learn about each of us on our website or on facebook. We all post on our team facebook page, we all write blogs and attend community events. Each agent is actively promoted and you’ll even see their names on our “for sale” signs (shocking!). We’re a highly collaborative team and you’ll sense that in our service to you. It’s just a different model.

From a buyer or seller perspective, working with our team is great. You have your individual realtor who works with you daily. But our team also has a full time Project Manager/COO (Creator of Order). She manages the files, our paperwork, keeps us reminded about important deadlines and even manages some of our marketing efforts. This frees up our time to devote to our clients. If one of us goes on vacation or is sick, we’re all here to assist you in her absence. So even though you have one main contact, we’re all here to help you get to settlement.

When you hire us, we take that very seriously. We feel grateful that you chose us to be on your team during one of the most important times in your life.

Go TEAM! (I sound sporty, right?)

~Wendy

Coming soon to Downtown Columbia!

Life in “downtown” Columbia is changing fast. It’s really great to see all of this investment in our area. Howard County has a lot going for it already but here are some exciting things to look for in the near future.

Clydes
January/February 2013
Clydes is getting a $4 million face-lift and will close for 6-8 weeks starting in January.

Nordstrom Rack
Opening in spring
Ok…this isn’t located in downtown Columbia…but I HAD to include it. I’m not a shopper but many of my friends are. Nordstrom Rack will open at Columbia Crossing.

New apartment/retail complex opening next to the mall
Construction starts in spring
New retails shops and 380 luxury apartments ranging from $1500-$2800 per month.

New open-air plaza at the Columbia Mall
Construction starts June 2013
LLBean will be torn down and replaced with an open air plaza. Plans include 2 restaurants, 2 cafes and 8-10 retail stores.

New high end Columbia Association Gym
Opening late summer/early fall 2014 in the former Rouse building.

Whole Foods
Opening late summer/early fall 2014 in the former Rouse building.

How appraisers determine the value of your home

The blog below was written in 2012 and we are so happy to see how many people still visit it 12+ years later! After reading the blog below, feel free to check out our updated blog about the major changes to appraising since 2012. Happy reading!

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Have you ever wondered how an appraiser goes about determining your home’s market value? Contrary to popular belief, appraisers do not visit your home and then magically guesstimate a value. The methodology involved in an appraisal comes down to comparing your home and all of your upgrades and amenities to the other homes that have sold in your neighborhood. If you were not aware, appraisers are regulated and have standard appraisal practices (known as USPAP) that they must abide by. They also have several methods for determining a home’s value. Since the “Sales Comparison Approach” is the most widely used we will discuss that portion of an appraisal.

When an appraiser goes out to your property they will typically draw out your home’s floor plan, take measurements to calculate your home’s square footage (which, by the way, does not include your basement which has a different line item for adjustments) and take note of any upgrades and any repairs that may be needed. Though they may be in your home for only 15 -30 minutes, the majority of their time is spent back at their office writing the report and finding comparable homes to compare your property to (known as “comps”).

Finding comparable homes in the neighborhood can be a fairly easy task if you live in a subdivision that has had recent sales. If not, the appraiser may have to search farther out. This may result in location adjustments if that area has historically received higher values than the subject neighborhood.

Everything from bedroom and bathroom count to the quality of the upgrades in the property is taken into consideration. The appraiser will determine what upgrades are common for your area and what adjustments should be made for differences between each property. An adjustment is then determined for each factor (i.e. an adjustment for additional bathrooms, house sizes, basement finishes, quality of upgrades, a view of a lake as opposed to a view of a busy street, etc.)

Say, for instance, your home has an in-ground pool. If a comparable is used that does not have a pool, the appraiser will not make the adjustment based on the cost of installing a pool. Instead, they will determine how much more a house in that location with a pool will get compared to one that does not have the pool.

This is an important fact to keep in mind when renovating your home to increase its market value.

Let’s say you invest $20,000 into renovating your kitchen. That does not necessarily mean you will re-coop that exact amount when you go to sell your home. It does mean that you will sell your house faster and for more money than your neighbor, who has not made those improvements.

Keep in mind though: If you over-improve your home, it would be difficult for an appraiser to justify a value higher than what is typical for your neighborhood. After all, no matter how much money you put into updating, renovating and adding to your home, you can’t change its location!

Here’s a screenshot from an appraisal of the Sales Comparison Approach:

Notice that properties with a superior feature received a negative adjustment (highlighted in red) and properties with inferior features received a positive adjustment (highlighted in yellow). These dollar adjustments are then totaled and the adjusted sales price of the comparable property is listed at the bottom (highlighted in blue). The appraiser will determine a value by weighing each comparable and how similar it is to the subject property. They may even add additional comparables or delve into one of the other means of determining value, should they feel it necessary.

P.S. Check out the Remodeling Cost VS. Value report for statistics on what repairs will give you the most return on your home remodeling projects:
http://www.remodeling.hw.net/2011/costvsvalue/national.aspx

Written by Tess Oby, Team Manager for The Wendy Slaughter Team

The Simple Explanation of Energy Deregulation

In July of 2000, lawmakers in Maryland changed regulation and gave consumers the freedom to choose their own energy supplier. Typically these suppliers were able to offer natural gas and electric at lower rates than the local utility company. Customers who do not shop for supply of electric from an alternate electric provider in Maryland receive Standard Offer Service from their utility company and prices change every six months.

It may be more beneficial to take advantage of competitive prices from other energy providers because electric prices are affected by the wholesale market. Natural gas prices vary monthly. The monthly fluctuations mean that customers can be exposed to volatile swings in prices. Customers can avoid these swings in gas supply charge by contracting with an alternative gas supplier. The utility company still plays a vital role in the process as they ensure that your energy is safely delivered to your home or business, track your usage, maintain the infrastructure and send you your bill. The only difference being that if you choose a separate supplier, there will be a line item with your natural gas and electricity supplier.

The bottom line is, it’s all about saving money where we can, when we can!

- Beth Viscarra

Smart Sellers Series: Top 4 things to do to prepare to sell your home!

Really? Just 4 things? Come on! We all know it takes more than this to get your house ready to sell, right?

Actually, when you boil it down, these really are the steps. But don’t be fooled. It is only 4 steps but you’ll need to invest some time and money into getting your house ready for today’s market.

1)      de-clutter

Do you watch HGTV? If so, you’ve probably seen their methods for cleaning and organizing. Create 3 boxes (they might turn into big piles but that’s a ok!): trash, donate, keep. Go through every closet, every cabinet, the garage and basement. The goal: to create open spaces within your home. While you are de-cluttering, keep an eye out for receipts for any work you have completed including maintenance and remodeling.

2)      clean

Clean everything literally from top to bottom inside the house. This includes cobwebs in corners, window treatments, moldings, the tops of cabinets, etc. Don’t forget about the outside of the house too: roof stains, siding, windows, sheds and flower beds are all important as well. Don’t have the time? Call us for a referral to a high quality cleaning company.

3)      maintain

Repair everything. Make sure you don’t have dripping faucets, loose doorknobs or sticking doors. Clean carpets or replace them. Make sure paint looks fresh and crisp. Everything should work well and look good.

4)      stage

Hire a realtor who provides professional staging. Ask for the stager’s credentials. It’s important to work with someone who is experienced and has a degree in design.

Call us if you’re thinking of selling. We’d be happy to come in for a preliminary meeting and help you get started.

- Wendy 

 Want more tips? Like us on Facebook at www.facebook.com/TheWendySlaughterTeam.

Why do we have a pumpkin carving contest?

                                                                    "Jane-O-Lantern"

As I sat at my dining room table carving pumpkins with my family, I realized that having a pumpkin carving contest is a great way to foster connections within our family and our community.

For so many of us, screens are a constant presence. We’re on them all day: the computer, the phones, the ipads. The kids watch TV or playing video games. We half listen to each other as our phones ping letting us know that a new email came in or someone commented on our photo on Facebook.

Sitting around the table together with knives and gourds might sound like a strange way to connect yet, it was a fabulous experience. We exchanged suggestions for how to best carve a little mustache or how to make my peace sign glow brighter. I was even happy when the kids fought over a carving instrument because it resulted in a negotiated agreement and two semi-satisfied kids.

As a team, it was so fun to watch the entries roll in from our clients, friends and family. Some were created with Aunts and Uncles, others with siblings, some from adults and others from little kids (you can see our entries here). One of our favorites is above: The “Jane” O’Lantern! We also had a great time judging them in the office.

In my family, we are very aware of our screen time and do a lot to limit it in our house (I’m sure many of you would still say we have way too much of it but we’re really trying!). I’ve read the research and talked to enough of the “experts” to know the issues that too much screen time can cause. But even with great awareness, I know we can do better. The pumpkins remind me that simple things are so important and our connections to the people we love are strengthened through attention. Real attention.

The irony of it all? Our pumpkin carving contest is held on Facebook!

- Wendy

What's your home's current market value?

Keeping you up-to-date on current market values is just one way we keep you informed about your biggest and most important investment- your home.

Below are links to the reports detailing the market activity in 7 different zip codes in Howard County for the 3rd quarter of 2012.We've listened to your feedback and have included the 21228, 20723, 21224 and 21144 zip codes. Enjoy!

Don't have time to go through the whole report? Click on any of the links and read the short summary of statistics for each zip code.

21042                                                    21043

21044                                                   21045

21046                                                   21029

20759                                                   21228

20723                                                   21224

21144

Don't see your zip code? Give us a call or or send us an email - we'd be more than happy to provide you with a Property Market Update!

What's going on in your neighborhood?

Keeping you up-to-date on current market values is just one way we keep you informed about your biggest and most important investment - your home. Below are links to PDF copies of the market activity in 7 different zip codes in Howard County for the 1st quarter of 2012.

Don't have time to go through the whole report? Click on any of the links and read the short summary of statistics for each zip code.

21042

 21043

21044

21045

21046

20759

21029

Don't see your zip code? Send us an email with your zip code - we'd be more than happy to provide you with a Property Market Update!

Yes you do need a realtor when you’re building a house!

It’s easy to buy a new house, right? You drive to a model, chat with the sales rep and write up a contract. A few months later, your new house is ready! So simple!

The truth is that the new construction process is very complicated. There are a ton of moving parts and it’s super important to be sure you’re making decisions that maximize your housing investment.

You can (and should!) hire a realtor to help you when you build a new home. Let me tell you why…

You need representation
The sales person represents the builder. Good sales reps know their product inside and out and they can be a fabulous resource – but they do not represent your interests.

Financing can be complicated
When it comes to financing, you need to know if the builder requires a “construction perm” or a standard (conventional) loan. Construction loans are more complicated and require a specially trained lender. I know many of these lenders and can offer some thoughts about how to interview a loan officer.

Getting the “biggest bang out of your buck”
My role also includes negotiating with the builder on your behalf. Every builder is different. Some prefer you negotiate on selections and others on closing help. Some won’t budge on decks but will throw in an upgraded lighting package. Identifying thresholds helps me to position your offer so that it is accepted by the builder.

Reducing stress while maximizing your housing investment
The selections process can be overwhelming. This is why I hire a professional designer to join us for your selections meeting. Julie Moreland of M Interiors helps you choose everything from cabinets and counters to hardware and flooring. You’ll feel confident that you’re making choices you love, while at the same time, choosing finishes that will help you maintain the value in your home. In addition, we also offer guidance regarding floor plan changes, elevations and lot selection.

Managing the process
You have a busy life. Let us handle the details. We’ll help you sell your current home - and time the delivery date of your new construction home with the sale of your current home.

The cost to you? Zero.
The best part? The builder pays the realtor fees. Going to the builder without a realtor does not save you money. Those funds come from a different bucket. So at no cost to you, you can have an experienced professional offering excellent advice during what is normally the largest investment you will make in your life.

Before you spend thousands of dollars on your new home, be sure to consult with us first. We know the builders, their products and the process. Our job is to help you spend your money wisely.

~Wendy

February Stats Blog - Average Days on Market

If you keep up with us on Facebook, you know that this week is Stats Week! Each day we post the statistics for different counties in the state of Maryland. Seeing as this is not our Facebook page, we thought we'd share some interesting stats for Howard County for 2011.

Here are the average days on market in Howard County for the past five years. For all five years, properties that were listed during the spring market tended to sell faster than properties listed during other times of the year.  Notice how the trend is similar for each of the past five years.

A little too confusing? Here's the average days on market for properties that have sold in Howard County for the past 2 years:

So, you'll notice that properties that sold in January were on the market for around 100 days - meaning that they were listed around the month of October. Properties that sold in July were on the market for about 70 days, so they were listed around May.

What’s the point you ask?

We wanted to show you facts to support what most people already know: selling your home during the Spring market will likely result in a faster sale.