Should You Repair or Replace a Roof?

One of the most important elements of any home is the roof. The roof is the first line of defense in protecting the home from weather-related issues, such as wind, fire, and rain. Over time, the constant abuse can take its toll, and your roof will require some attention. But how do you know if you should replace it or just repair it? There are a few things to consider before making the decision.

The Age of the Roof – Most roofs come with a 10-year warranty and are expected to last for anywhere from 20-25 years. Some tile roofs should last even longer with some simple maintenance for the under sheathing

Extent of the Damage – Sometimes the extent of the damage is great, such as when there has been a large storm. Other times the original roof was not installed properly or has structural issues, causing widespread damage

Cost – You may find when comparing the cost of the repairs to the expense of a new root, that the new roof is simply a better value. Always get estimates for both.

Insurance - Insurance companies view an older or deteriorated roof as a liability. In their eyes, it's more likely to leak, collapse, or suffer other types of damage, which means they're more likely to have to pay out a claim. Because of this, some insurers require roofs to be under a certain age or in good condition as a condition for providing coverage.

Personal Considerations – Are you planning to stay in the home for a long time? In this case, replacement now will be more economical than replacing later when costs have increased.

Finally, consult a few professionals. Discuss the issues for both replacement and repair with a few trusted roofing specialists and your insurance agent before making the final decision.

Stay Focused on Your Goal

Buying or selling a home can be stressful, even in normal times. Right now, when the housing market is moving at a frenetic pace, both buyers and sellers are making quick decisions and are feeling extreme pressure. As the tension rises, it can be easy to overlook the end goal; right-sized home, relocation, dream home, etc. Try not to lose focus!

Buyer Challenges

Facing a very tight inventory of available properties, buyers have limited time to arrange to tour homes and knowing they must make a quick decision once they have. Buyers do not have the luxury of a second look or hesitation and often are competing against multiple offers, adding to the pressure.

Seller Challenges

Sellers are also feeling the challenge of the frantic pace. While it is nice to have multiple offers from which to choose, the fact that the offers are at times being made sight-unseen means that some of the offers may not be the buyer’s first choice and they could lose a “real” offer by choosing to work with the wrong one. In addition, if the seller intends to buy another home, then they will be in the same position as the buyers once they enter that side of the competitive market. The bottom line in each case, however, is to stay focused on the end goal. Why are you looking to buy or sell? Working with your agent, and relying on their experience, keep your eye on the prize and recognize that the goal will be worth the effort.

Don't Get Represented by a “Yes-Agent”!

We all know the type. The person who just says “yes” to anything, never challenging or questioning an opinion or strategy. These people-pleasers agree with anything suggested; while they may be nice friends, in real estate a yes-man or yes-woman can actually cost you money. Often a lot of money. No one likes to leave money on the table, but having an agent who doesn’t challenge unrealistic expectations is not serving the client. So, how can you spot these yes-agents? These yes-agents can take many forms. On the seller side, they could be the agent that lists a home at an unrealistic price. Well-priced homes are selling quickly, but that does not mean that a seller can add 10% or more to recent sales and expect to sell the home. Over-pricing a home can cost precious time as potential buyers forgo viewing the property in favor of well-priced options. As the home lingers on the market, the seller must eventually lower their price to market value. Buyers often assume the seller is desperate to sell and offer lower prices than they might have at the beginning of the listing. Buyers represented by a yes-agent could find themselves writing unrealistic offers as well. There is danger in writing a low-ball offer just to “see if it sticks.” The yes agent might be willing to send over the offer, but the seller is just as likely to assume the buyer isn’t serious and move to more realistic offers. The yes-agent just cost the buyer the home. Spotting a yes-agent, and avoiding them, can save real estate clients time and money, and ensure they achieve their real estate goals.

Landlord Deductions from Security Deposits

A rental deposit against damage is a standard part of all housing rental agreements. The purpose of the security deposit is to protect the landlord from loss in the event the tenant does not take proper care of the property. Most renters don’t even think about it when they sign a new lease, assuming they will get their entire deposit back when they move out. So, it often comes as a surprise when the refund amount is lower than they paid when they signed the agreement. Many renters are surprised to find out what the landlord can deduct from their deposit.

Here are some common items that the landlord can charge to renters when they leave:

• Non-Payment of Rent – This should seem obvious; if the tenant leaves before the lease is up or simply owes back rent, the landlord can deduct or keep the deposit to compensate.

• Unpaid Utilities – Utility companies will hold the landlord responsible for unpaid bills, so if the water or electric bill has been unpaid, they will deduct this from the security deposit.

• Unusual or Excessive Cleaning – While normal wear and tear are not deductible, excessive cleaning can be charged to the renter.

• Damage – This also should be obvious. This was the main purpose of the deposit.

• Trash and Other Items Left Behind – Renters should think twice about leaving that old patio furniture behind. Any cost to remove and dispose of anything left in the property can be charged against the deposit.

Finally, breaking the lease for any reason could put your deposit at risk. Renters need to educate themselves about the risks to their deposit and read the lease carefully for any specific terms included by the landlord. This can help renters avoid the shock of a smaller-than-expected refund check.

10 Ways to Make a Small Bathroom Look Bigger

Small bathrooms don’t have to be dark and dank. Contrary to popular belief, making a small bathroom appear larger is not as hard as it seems.

Here are 10 easy ways to quickly make a small bathroom look bigger.

1. Mirrors – Add larger mirrors to reflect light and provide the illusion of space.

2. Lighten Up – Lighting doesn’t have to be harsh, but adequate lighting is a must.

3. Remove Barriers – Open up the room with clear glass shower doors or shelves.

4. Monotone Decorating – Use the same light colors on walls, countertops, floors and cabinetry to allow for the eyes to flow through the space.

5. Negative Space – Consider using a pedestal sink which takes less space than traditional cabinets.

6. Declutter – Find locations out of sight for toiletry items.

7. Heads Up – Use the vertical space in the room too, tall cabinets provide storage and add interest to the room.

8. Store Mats and Towels – Keep towels and floor mats out of sight unless in use. A simple hand towel in a complementary color tone is all most guests need.

9. Pocket Doors – Where you have room, use pocket doors or popular barn sliding doors to add extra space inside the bathroom.

10.Glass – Clear glass shower doors is a great way to remove a visual barrier and make the room seem larger.

Home Issues That Shouldn’t Be Deal-Breakers – and a Few That Are!

Finding the right home can sometimes feel like hunting for a needle in a haystack. Unless you’re buying brand-new construction, every home has some drawbacks, whether it’s style or real maintenance issues. If you’re looking for your next home, understanding the difference between minor issues and true deal-breakers can help you evaluate your options and make the best possible choice.

Manageable Annoyances

• Cosmetic – All aesthetic concerns can be fixed – for a cost. The key is to understand the difficulty and level of effort or money involved. A dying lawn can be addressed with new sod. Is the kitchen dated? A new backsplash is relatively inexpensive. With some fresh paint and new lighting fixtures, you can easily brighten a room and make a small space seem more expansive.

• Healthy Homes – Many homes have older carpet, drapes, and other elements that can irritate allergies. Home air filtration systems are affordable and very effective in clearing the particulates out of the air. Replacing the attic insulation and cleaning the vents are easy and inexpensive ways to correct these situations.

Deal-Breakers

• Foundation Problems – Foundation cracks and other issues can be expensive or impossible to correct.

• Mold – While treatments for mold are available, they normally involve major demolition to open walls and flooring for access. Unless the sellers will correct the mold issue before closing, it’s better to reconsider on this one.

• Water Leaks – Signs of water damage or existing leaks could be a reason to search for a different home. Leaks and water issues will most likely bring you to the mold issue above. Classification: Public Classification: Public Buying a resale home almost always involves some kind of preexisting issue, but not all should be reasons to walk away. If the home you like has problems, before you move on, consider the costs involved to remedy the challenge.

Can You Sell an Outdated House?

It seems that everywhere you turn there are companies who advertise buying ugly houses. These messages offer to quickly buy any house, regardless of the condition. The problem is that their offers are often significantly below market value. If you’re a seller whose home needs some attention, you might think these companies are your only option. Some of the offers sound attractive; quick sale, all cash, no commissions, and no fees. But before you do anything, it’s worth your time to call a local real estate agent for a second opinion.

3 Reasons to Call a Real Estate Agent Now

1. Free Advice – The real estate agent will not charge you anything to simply come look at your home. 2. Your House Might Not Be that Ugly – You may be surprised to find that your home is quite marketable. A few years ago, a 1950s mid-century modern home would have been considered a tear-down. Now, these ranch homes command top dollar and are in very short supply.

3. A Path Forward – If your home does have some issues, the agent can offer some ideas about moving forward. They can suggest local contractors provide repair/upgrade services or market to investors that might still offer significantly higher prices than the quick-sale guys.

Even outdated houses sell. We are in a seller’s market in almost every part of the country. Selling your home has a large financial impact on you and your family. Don’t make assumptions about value, reach out to a real estate agent, and make sure you understand all your options so you can get the best offer possible.

The Worst Mistakes You Can Make As a Homebuyer

Buying a home is typically the largest financial transaction most people make in their lifetime. The last thing you want to do is make a mistake, one which could cost you time and money – often a lot of money.

These are some of the most common, and worst, mistakes you can make when buying a home.

• Not doing your homework in advance – Before you do anything else, do some preliminary research and get a pre-qualification letter before you start shopping for your new home.

• Changing Jobs or Buying Big Items – Once you’ve decided to buy a home, it’s critical not to change your circumstances, such as a new job or large credit card purchase.

• Calling the Listing Agent Directly – It might be tempting to try and get a “better deal” by working with the listing agent rather than using your own agent. This is not true; the listing agent works for the seller and does not represent your interests.

• Accepting Everything at Face Value – Always ask questions and investigate everything, including getting a thorough home inspection.

Buying a home is exciting, but the most important thing is to consider the details and think everything through before jumping. By understanding some of the mistakes buyers make, you can avoid them.

Age-Old Real Estate Selling Tips to Ignore

Homeowners planning to sell their home tend to get unsolicited advice from every direction. “Do this,” “don’t do that”; it can be difficult to decipher the good from the bad advice. As homebuyers become more informed and market-savvy, knowing which age-old advice to ignore can be important. Here are some adages which should be retired immediately.

• Spring is the best time to sell – While spring is traditionally when home sales tick upward, the real key to selling is inventory levels, which typically occur other times of the year.

• The first offer is always the best – While all offers should be considered, don’t feel pressured to take a sub-par offer just because it was the first.

• Open houses sell houses – Not anymore. Only 2% of homes sell as the direct result of an open house, according to the National Association of Realtors®. Virtual tours and online photos will attract more interest than foot traffic.

• Price high so there is room to negotiate – Homebuyers are more sophisticated about pricing and will not bother with overpriced homes.

• If you don’t want to make repairs then lower your price – Unless you market your home as a fixer-upper, buyers expect the home to be in reasonable condition and a low price might not be enough to encourage an offer.

• You must update your kitchen to sell – Buyers do love renovated kitchens, but keep in mind that you typically recover only 81% of the cost of a remodel when selling.

Selling a home is a major life decision. Before you begin the process of listing your home, do your research and make sure the advice you rely on is valid in today’s changing environment.

Investment Rent or Flip

There are a wide variety of ways to invest in real estate; one can make money in any of these options, one can also lose their money. To be successful in real estate investing, it’s critical that you identify what skills you have and your tolerance for risk. Then choose a type of investment that works for you and repeat that model.

Investors can make great profits by both flipping properties as well as holding them as rentals. The difference really boils down to a few considerations. First, what kind of income are you seeking? Active or Passive? Actively buying, fixing and flipping properties is quick cash that requires careful timing and effort. Rental properties on the other hand offer passive long-term income which accumulates over time. Additionally the property value increases during this time. The downside is that one must invest time in property maintenance and tenant management.

The second concern is risk. Flipping a property is not traditional investing where one buys and holds an investment. Flipping is really speculation. When buying a flipper, one must carefully gauge the cost of refurbishment, remodeling and the cost of the holding time into the price valuation, then carefully market the home and realize the profit. Any number of variances can go wrong which could cause the value to drop and profits to reduce or even disappear, such as a delay in remodeling or a slow real estate market.

Both types of investments can bring nice profits. Determining what’s best for you and your talents is important in choosing the best option for your financial goals.

Getting Outbid? Strategies to Make Your Offer Stand Out and Get Accepted

Summer is traditionally a busy time for buyers and sellers. This year has been no exception—and with lower interest rates, many homebuyers are finding the competitive environment challenging. With multiple buyers competing for properties, even terrific offers are often being outbid. Fortunately, there are some things you can do to make your offer more attractive to the sellers and increase the chances of getting the property.

• Have Full Pre-Approval – A step beyond pre-qualification, a pre-approval involves submitting your full application to underwriting. Your lender will collect all your financial data and submit for review. This is stronger than a pre-qualification; a pre-approval requires the buyer to provide the proof of their ability to qualify for the loan.

• Increase the Earnest Money – Earnest money is the deposit held in escrow. While the contract will dictate how monies are disbursed in the event of a cancellation, increasing the amount offered can show the seller you’re serious.

• Add an Escalation Clause – In a bidding war, it can be difficult to know what to offer because you want to outbid the competition without going too high. An escalation clause is one way to automatically outbid the others. The clause typically offers an amount—$1,000 for example—higher than any verifiable offer up to a specific amount. This can ensure yours is the highest offer.

• Pay any Appraisal Shortage – When offering more than asking price, sellers become concerned about the appraisal coming in too low. If you are willing to pay over market value, include the amount of shortage you are willing to pay.

• Remove Inspection Contingency – This option can be tricky, but if you are planning a large remodel or are willing to tackle any defects found, then you can make your offer stronger by accepting the home as-is.

In this fast-moving, competitive real estate market, it’s important to make your offer stand out from the crowd. These strategies are great ways to demonstrate to the sellers that you’re serious about buying their home, increasing the chance of having your offer accepted.

Excellence in Entrepreneurship Nominee for the Orange County Business Journal 2021

The OC Nest is honored to have been nominated and asked to take part in the Orange County Business Journal celebration of the 20th annual Excellence in Entrepreneurship Awards! The OC Nest is honored to be a nominee and grateful to be part of such an excellent group of entrepreneurs.

Pavilion Park January Housing Stats are here...

Pavilion Park December 2020 Housing Stats are here...

Based upon information provided by CRMLS with an average of 3 month period ended December 2020.

Welcome to 210 Tuberose!

Have you been waiting to time the market? WAIT NO MORE! This gorgeous 4 BD 3BA DETACHED home is nestled in the serene, tree-lined community of QUAIL HILL boasting sweeping views of mountains, trails & sunsets. This RARE OPPORTUNITY offers a comfortable living space for everyone. A formal living room featuring a fireplace, high ceilings, plenty of natural light & across is a formal dining room perfect for ENTERTAINING. The kitchen is appointed w/ granite countertops, double ovens, kitchen island and french doors that lead to a courtyard ideal for RELAXING or dining al fresco. Separate living areas provide a layout for EASY FAMILY LIVING and plenty of space. CONVENIENT full bath downstairs & direct 2 car garage access makes this floorplan highly desirable. Upstairs master bedroom boasts a Juliette balcony, huge walk-in closest w/ custom built-ins, dual sinks, and secondary balcony to take in fresh air. In addition to four bedrooms, a full laundry room & sink all conveniently located upstairs. The Solstice neighborhood w/in the prestigious hillside Quail Hill community is HIGHLY DESIRABLE & rarely on the market. RESORT-LIKE amenities walking distance w/ pools, gyms, parks, hiking trails, baseball fields, soccer fields & Quail Hill shopping center & only minutes from Irvine Spectrum, Oak Creek Golf Club, UCI & tons of dining & shopping. Irvine is known as one of the SAFEST cities and is also recognized as an AWARD-WINNING school district. OPPORTUNITY is knocking, don't miss out!

Building the NEST: New Year, New Realtor

We are excited to announce Kris Parker has joined The OC Nest.  

To learn more about Kris visit http://www.theocnest.com/kris-parker-1/

The OC Nest Nominated for Orange County Business Journal’s 2017 Excellence in Entrepreneurship Award

I am so honored to be one of Orange County Business Journal’s 2017 Excellence in Entrepreneurship Award Nominees! This has already been such an exciting year for The OC Nest, and I’m looking forward to helping more families in OC find their perfect nest.  

I want to give a special thank you to Laurie Rowen and Erin Giglia of Montage Legal Group for nominating me for this award.  I’m grateful to have these two entrepreneurs as mentors in my life.

Congratulations to all of the 2017 OCBJ Excellence in Entrepreneurship Award Nominees, including The Winery Restaurant & Wine Bar, The Ranch, Tom Ferry, Prego Ristorante, Montage Legal Group, and Mom & Tot OC.  Winners will be announced at the Awards Program on Wednesday, March 8, 2017, which will be held at the Hotel Irvine.  Click here to see the OCBJ Excellence in Entrepreneurship Awards Supplement.