National Home Remodeling Month

May 14, 2012

May is National Home Remodeling Month, so we want to fill you in on what remodeling projects are popular and bring you and your home the value, as well as what the current decor trends are.

 

The most popular home remodel projects, according to the National Association of Home Builders, are bathrooms and kitchens.  It’s no surprise that these 2 rooms rank high on the list, think about how much time is spent here! Bathroom remodels have taken the lead in popularity and can recoup about 68% of the cost when reselling. However kitchen remodels are a better investment in that you can recoup up to 75% of the cost of a minor remodel and 71% of the cost of a major remodel. For the full list of Remodel Magazine’s cost v. value chart for remodel projects in the Southeast, click here.

So what is a minor remodel? This is referring to painting the walls and trim, updating the cabinet facing and hardware, replacing the faucet, getting an energy efficient oven, replacing laminate countertops, and replacing the flooring. I know what you’re thinking, that sounds like a pretty major remodel! A major remodel swaps out all of the appliances, adds an island and does all the minor remodel things too.

 

Going green is very important to a lot of people, not just because it helps the environment but also because it’s beneficial to their wallets! Appliances that save energy are a great addition to your home for both of those reasons; the savings alone will pay for the upgrade.

 

If you’re remodeling on a budget, paint can go a long way! The entire look and feel of a room can change based on the color. This season’s colors range from neutral grays like ash and slate, to blue-greens like aqua and teal, to oranges like sherbet and burnt orange. If you’re painting to update your house for your resale it’s best to stick with the neutrals and add an accent wall that matches the room’s aesthetic.

 

Another trending style is dark wood for floors and cabinets. The dark wood really makes your paint and accent colors pop while adding a bold look. Bold is big this year. Bold colors, furniture, and artwork are more prevalent. Creating an interesting and eye popping focal point is a great way to bring a room together.

 

If you’re looking for more home decorating tips and inspiration, follow us on Pinterest, by clicking here!

Real Estate Jargon: Decoded (Part 1)

February 15, 2012

Real estate can be a tricky thing. If you’ve ever heard agents, developers or anyone in the business talk about real estate, you can quickly observe that we’ve got essentially our own language that isn’t always easy to follow along with. When every clause has a name, every type of loan and deed is different and every spelling change means something different, it’s easy to get lost in the middle of a sentence. So, we decided we filled you in on a little vernacular that you may have heard, but may have heard but didn’t immediately understand. We’ll be doing a few of these, so let us know if you have any words you’d like decoded!

Questions about Real Estate Terminology?

Real estate doesn't have to sound like a foreign language!

 

1)      Quitclaim Deed: Like we said before, there are tons of different types of deeds, leases and agreements. This one in particular isn’t brought up all the time, so people often don’t know what it means.

What it means:  Essentially, when an owner of real property transfers their interest to someone else, that’s called a quitclaim deed. There’s no title covenant, which means there’s no warranty on the property and that even the original owner had a clean title to begin with, so these aren’t usually used in standard seller-to-buyer deals.

Where you’d see it: You’d see this more often when passing property between family members or from private property into a business entity. You can also see this done when a couple divorces and either the husband or wife relinquishes all ownership to the marital house to the other spouse.

 

2)       Sublet: This is actually more of a rental term, but with the amount of renting going on in the market, it’s rather handy to know what it means.

What it means: To sublet a property means that someone who is leasing a property decides to then lease the property again.

Where you’d see it: This is often the case if a management company is renting an apartment complex and then leases individual units to residents. Another way you often see this is when college students study abroad or leave for the summer and sublet their apartment when they’re gone.

 

3)      Amortization:  Sometimes in real estate, we have fancy sounding terms that are just there to cover the basics of common sense. This is one of those terms.

What it means: When you take out a mortgage and you make regular payments on it, you’re paying to make the original principal amount decrease and to cover the interest you’ve accrued. Amortization is the process in which that original principal goes down.

Where you’d see it: Oftentimes, you can see amortization tables that will demonstrate to you how your principal amount decreases over time.

 

Real estate can seem daunting, but with a little insider intel, you’ll be speaking like the pros in no time! We’ll do another word decoding in a couple weeks- any terms you’d like covered? If so, let us know, and we’ll explain them next time!