5 Trendy Tips to Enhance a Small Porch

Who doesn’t love the idea of a front porch? Picture a cool lemonade in the shade on a hot summer’s day while watching the world go by. Home builders have embraced this ideal over the past couple decades with more new construction featuring this timeless feature. Often though, the size of the porch seems to make it more of an idea than a usable space.

But even a modest-sized porch can be an inviting place to relax. Here are 5 trendy ideas to try this weekend to enhance a small porch.

1. Outdoor Furniture – Any porch can accommodate some kind of furniture. It may be a modest bench or a small outdoor couch, but adding a sitting option is an instant plus.

2. Pillows – Soften the look of the space and create a welcoming impression by adding pillows or blankets to the sitting area. Vary the color and style by season using weather-proof fabrics.

3. Potted Plants – Small containers or size-appropriate edges of flowers or bushes add softness and interest to any front porch. Plants allow the space to integrate with the rest of the front yard.

4. Color – Play with the color of both the furnishings and plants to draw the eye of the observer. Soft pastels paired with a bold splash will move the viewer’s eye around the space, creating the illusion of more room.

5. Remove Clutter – Finally, remove anything unnecessary and keep the porch cleared of debris or overgrown plants.

A front porch should lure one in. Even a small porch can be a pleasant place to relax, read, or refresh with just a few small changes.

Overall Market Update – 5 Realities for Sellers Now

Over the past few years, most of the US has been in a strong seller’s market. Historically low interest rates coupled with rising incomes resulted in buyers who were ready and able to buy a new home. It was a crazy time when sellers needed to do little more than put a sign in the yard to attract multiple offers.

However, the post-Covid housing market is quite different. The uncertainty in the economy has slowed the pace and rising interest rates have caused buyers to reconsider their purchase, and the amount they are willing to pay. As a result, sellers must go back to the tried-and-true methods of selling a home, debunking the myths of the past few years. 5 “New” Realities for Sellers

1. Price the Home Realistically –Now sellers must be more careful and price the home realistically to avoid losing the precious early days of a listing when buyer’s interest is highest.

2. Make Repairs – Buyers have more choices now and they will be more careful about buying a home that needs a lot of work.

3. Consider Making Concessions – Buyers often ask for reasonable concessions; sellers should weigh the offer before rejecting.

4. Staging is Back – Make sure the home is show-ready and sellers may consider some simple staging to make the home more appealing to buyers.

5. Be Prepared to Wait – The pace has slowed. In a “normal” market, most homes take 30-45 days to enter escrow.

Finally, sellers should pay attention to their local market and determine the right time to list. Balance has returned to the housing market.

Is My House Up to Code?

Building codes change over time and for people who have owned their homes for a long time, they may not know if their home is out of code and if so, does it matter.

Building codes and violations from jurisdiction to jurisdiction and focus on issues that can affect the safety of the dwelling and its occupants. A home that’s “up to code” may answer the questions:

· Does the home have fire escapes and exits?

· Are plumbing lines intact and functional?

· Are construction materials in good condition and free from asbestos and other hazardous chemicals? ·

Is the home well-lit and free from tripping hazards?

· Is the HVAC system working efficiently?

Avoid Code Violations

There are things to look for in both an existing house and a potential home.

· Check for any permits on the home and always ensure any work done on the home includes permits.

· Test for hazardous materials such as asbestos or lead. These materials are common in older homes. If found, these need to be removed by professionals to avoid health issues from contamination.

· Poor bathroom ventilation is a big code violation. The humidity can lead to rot and mold which is expensive to remove and dangerous to the occupants’ health.

· Shoddy electrical work is also common in older homes. Lack of grounded wires, spliced wires, and DIY repairs duct-taped together can be very dangerous.

Understanding code violations can help the homeowner to avoid issues. All this information is readily available through local jurisdictions and home inspectors can provide more explanations to help mitigate any problems.

Are the bidding wars over?

Let’s face it, it’s fun to have a home listing during a seller’s market. When inventory is tight, even less-than-perfect homes invite the frantic bidding wars seen over the past few years. But as the economy slows down and interest rates increase, sellers are wondering if the bidding wars are over, and what that means for them.

First of all, bidding wars have occurred in every kind of real estate market. Well-positioned homes have always garnered attention and offers. What’s different in a seller’s market is that buyers are so desperate to find a home, that multiple offers seem to be normal on every listing. As the pace slows down, sellers need to adjust their expectations and avoid costly mistakes.

Seller Mistakes to Avoid in a “Normal” Market

· Bad Curb Appeal – Curb Appeal is once again important to making a good impression.

· Delayed Response – Don’t wait to respond to a buyer’s offer because you hope to have a bidding war.

· Unreasonable Demands – Buyers have choices now, be reasonable with the counter and contingencies. · Highest Offer – Don’t assume that the highest offer is the best offer.

· Priced too Low or too High – Price the home correctly. Don’t play games with the price.

Finally, be patient. In a typical market, an average home is on the market 30-45 days. This is a change from the past few years, but a healthy real estate market benefits all parties.

How to Price Your Home to Sell in a Softening Market

The summer selling season has come. Unfortunately, those home sellers who were looking forward to sky-high prices and multiple offers may be disappointed to find the market softening. In a declining market, pricing a home becomes critical to success.

Pricing your home in a softening market

The first step is to realize the market has changed. Buyers will not overpay for a home in an uncertain market. Whereas just a few months ago it might have made sense to “test the market” and set an aggressive price, sellers who try that strategy today will lose valuable time, risking an even slower market when the home sells.

Home Value Truths

• What you paid for your home doesn’t affect its value.

• Your asking price does not affect its value.

• What it might have sold for 2 months ago does not affect its value.

• What your agent tells you about price does not affect its value.

The value of your home is determined by what a qualified buyer in today’s market is willing to pay for it, comparing it to others on the market for sale.

Pricing Strategy in a Softening Market

Your pricing strategy should be the same, regardless of whether you are in an accelerating or declining market – to price the home ahead of the market. In a declining market, that means you should price your home slightly below the most recent comp.

The Home Inspection – What’s Really Important?

An important part of the home buying process is having a professional home inspection. Even homes listed “as is” should have an inspection if only to understand what “as is” means. A comprehensive home inspection will examine all major systems, such as heating, cooling, electrical, and plumbing. The inspector will also look for signs of water intrusion and check the roof for leads or wear and tear.

Once the inspection is complete, the home buyer will receive a copy of the findings for review. Often buyers are shocked at the number of issues uncovered and may even wonder if they should walk away. Most of the time, this is unnecessary; even the best maintained home will have plenty of things to review, most of which are more a “honey do” list than a deal breaker.

So, what are the deal breakers? For anyone considering a major remodel, there may not be any deal breakers on the list. Those who have stretched to buy the house, may not have the available resources to make any significant repairs and will want to negotiate as much as possible.

Most agents agree that the main thing to focus on is the fire, health, and safety sections, missing fire flues or smoke detectors, and unsafe electrical hazards or firewall breaches. Also check for evidence of foundation cracks, water intrusion, and roof leaks. Before accepting any cash credit, one should get a few estimates from repair contractors to ensure the dollar figure offered is sufficient.

Most home inspections create a list of deferred maintenance and minor repairs. Working with their agent, a home buyer can narrow the list of requests to the essentials and tackle the others once they move in.

Selling a Property with Tenants in Place

The strong seller’s market has prompted homeowners across the country to consider selling their homes. What if your property is a rental unit with tenants in place? Can you still sell and take advantage of the rising home values? Yes, by understanding the steps and following a few tips, you maximize your profit in this strong market.

The first step in selling your home with tenants in place is to understand your rights and responsibilities. The kind of lease you hold will determine if you can simply give notice to the tenants or if the new owners will buy the home with a lease in place. Only month-to-month leases can be terminated unilaterally with proper notice.

Next, meet with the tenants and discuss the situation. Explain your reasons for selling and assure them that you wish to make it as easy as possible. Offer to sell the home to the renters first, and then discuss any future plans they may have. If they can’t or don’t want to buy the property, you may be able to offer them money to move. Your goal must be to have the cooperation of your tenants so they will help facilitate showings and maintain the home.

When you have tenants, who will remain in the home after the close due to their lease, then you must disclose the lease terms to the buyer. The new owner will be legally obligated by the lease. In a strong market, you may find a buyer willing to wait for the expiration of the lease, even if they intend to occupy the home.

Selling with tenants in place doesn’t have to be difficult. Do your homework, understand your obligations and be transparent with the renters and potential buyers. This way, you make it easy on all parties and can reap the reward of high home values.