Thursday Jan. 26 2017
THE EASTERN NEW MEXICO NEWS
6 easy, affordable smart home features that can help you sell your house even faster
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By Brandpoint Content resh paint on the walls, professional staging and an asking price that ends in 999 - when you’re selling your home, you’ll do whatever you can to help it stand out and sell faster. Because the National Association of Realtors is predicting modest growth for the 2017 real estate market, as a seller you want every edge you can get. And on the heels of the popular Consumer Electronics Show in January, perhaps that edge is a smarter home. “Smart home features are designed to make homes more convenient, appealing, secure and energy-efficient – all of which are bonuses when you’re trying to sell a house,” says Geoff Lewis, president of RE/MAX, LLC. “Sellers who want to move their homes faster may benefit from adding smart features that make their properties more appealing to tech-minded buyers.” According to IHS Markit and CNBC, 80 million smart home devices were delivered worldwide last year. That’s a 64 percent increase from 2015. Here are six trending smart home features that might catch buyers’ attention and help sell your home faster: • Keyless/remote entry door locks: Have you ever left the house and worried that you left the front door unlocked? If your home is equipped with a keyless/remote entry door lock – available from multiple manufacturers – you can use an app on your smartphone to lock the door from wherever you are. Some manufacturers make versions that will also send a text or email to your phone when the door opens. Locks that can be programmed with multiple entry
codes also allow you to see who comes and goes and when. • Smart lighting: From lighting automation that allows you to control lights remotely and wirelessly, to energy-efficient LED bulbs that can change color to match your mood and decor, lighting has come a long way. Some smart lights work in tandem with home automation systems to allow you to turn them on or off, or even dim them, from an app on a smartphone or tablet. Others require no communication hub and can be controlled directly from your mobile device. You can also put some smart bulbs on timers (using your wireless device), sync them with certain TV shows or movies, and integrate them with security cameras and thermostats. •DIY security systems: Don’t want to sign a contract or deal with complex security systems? Install-it-yourself security systems
are affordable and offer security features like cameras, sensors, motion detectors and alarms or sirens, without the need for a security service to monitor them. • Smart appliances: The Internet of Things (IoT) – everyday objects that have network connectivity – includes a growing list of smart appliances. Many manufacturers are offering washers, dryers, refrigerators and other home appliances that can communicate with you – and each other – wirelessly. Many can be controlled remotely from your smartphone – so if you leave the house and can’t remember if you turned off the stove, you can check in and turn it off using your smartphone app. While appliances aren’t always included in a home sale, they do make for interesting features that keep your home top of mind to buyers. • Smart plugs: One of the easiest, most affordable smart home upgrades you can make is to add smart plugs to your home. These Wi-Fi-enabled plugs fit existing outlets and can be controlled from a smartphone app. Plug anything into a smart plug, like lights or a television, and you can turn it on or off remotely, track energy consumption, or even create an on-off schedule. • Temperature controls: Programmable thermostats were just the beginning; today’s home temperature controls are even smarter. Like other smart home features, smart thermostats can be controlled remotely from your mobile device. You can program them to make automatic temperature adjustments and then use your smartphone to override the program like turning up the heat on a particularly cold
day. Some smart thermostats learn from household behavior and adjust the temperature to meet your family’s needs and save energy, while others adjust based on the number of people in a room. And several can now be operated via voice-controlled virtual assistants. “Many of these smart home features are surprisingly easy and affordable to install,” Lewis says. “Sellers who are open to the idea of investing a little money to possibly help get a speedier sale, may want to consider adding the smart features buyers will be looking for in 2017.” If you’re thinking of selling your home, find more helpful information at www.remax.com.
Page 2D • Thursday, Jan. 26, 2017
Real Estate
THE EASTERN NEW MEXICO NEWS
Understand the real estate loan concept
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By Nicholas Tan Articles Factory eal estate loan is what a lot of people use to buy their
period of time (and, of course, you will also need to pay appropriate
home. Real estate loans have been instrumental in bring- interest on that real estate loan). The tenure of your real estate loan ing joy to people by making that unaffordable house
and the prevailing market rate will determine the amount of interest
affordable.
you pay for your real estate loan. Generally, you are required to pay
Some real estate investors, too, make use of real estate loans for
back the real estate loan in the form of monthly instalments which
buying properties. However, real estate loan is not free money and
are composed of both interest and principal portions of your real
anyone who buys real estate or plans to buy real estate using real
estate loan.
estate loan must understand the concept of real estate loan very
clearly.
interest rate loans and adjustable interest rate loans. So depending on
what type of real estate loan you have gone for, your monthly pay-
Real estate loan (also known as mortgage) is the money that
Also, there are various types of real estate loans e.g. fixed
you borrow from someone (a financial institution i.e. a mortgage
ments might either remain constant (fixed rate) for the full tenure
lender) for the purpose of buying a property. The real estate loan
of the loan or keep getting adjusted periodically (adjustable rate) on
generally covers a part of your purchase price and the remaining
the basis of a financial index. Besides that, some other costs are also
portion has to be paid by you upfront i.e. as down payment. The
associated with real estate loans – closing costs, inspection costs, at-
amount – the percentage of total purchase price – that you have to
torney fee etc.
pay as down payment is dependent on a number of factors and you
can generally reduce it to even 5 percent by going for mortgage in-
costs associated with that too. Again, there is stamp duty and other
surance.
taxes that you need to pay. So, really , you need to understand the
concept of real estate loans and the related costs clearly before you
FHA and VA loans (i.e. mortgage insurances through FHA
Also, in case the property needs some repairs, there will be
and VA) reduce the down payment requirement on real estate loan
actually go for the real estate loan. And understanding these con-
even further. Whatever you borrow from the mortgage lender as
cepts is really not that tough.
real estate loan needs to be paid back to the mortgage lender over a
THE EASTERN NEW MEXICO NEWS
Real Estate
Thursday, Jan. 26, 2017 • Page 3D
Tips for managing your real estate properties
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By Annetta Powell Articles Factory ow that you have started your real estate venture and
you’re working with a property or two, there are a few
to ensure that they are qualified to perform the duties that you will
things that you will need to learn when it comes to making most certainly need done when it’s time to fix your properties.
sure that you’re business runs smoothly.
doing the maintenance repairs for your rental properties, so you want
If you have a string of properties, it may be a good idea to
Talk with friends, people that you know very well and can
take their word when it comes to referring a professional to you.
decide if you’d be better off utilizing a property manager to take care Also, if you have seen their work with your own eyes, that’s another of things for you. Owning so many properties at once can get very
hectic because of the maintenance and upkeep, so if you don’t have
plus. This means that you can attest to the fact that this person will do a great job for you.
the time to maintain them, it’s best to have someone help you so that your business won’t suffer. Finding a suitable tenant
Once you have found a pool of candidates to interview for
your job, some questions that you might want to ask are, if they have previously done the specific type of work that you are requesting
After you have fixed up your property and it is now in livable condi- and how long will the specific job take. Once you have found the tion, the first thing you must do is select a tenant. This is the single
right person for the job and they have completed the task, it’s a good
to your satisfaction.
most important part of your business.
The most vital factor in the type of tenant you will attract is
the area in which you have chosen to buy property. It is important
that you screen your applicants, carefully and seriously. You could run into a multitude of problems if you aren’t thorough in your selection of a tenant.
idea to check over their work just to make sure that the job was done Accurate accounting
Owing property of course means keeping accurate accounting records.
It is best practice to have an automated system that will han-
You’ll want to come up with rental criteria, a list of things that dle all of your financial records for you. There are a number of pro-
your potential tenant will need to provide you with, so that you can
grams available such as Quick Books. This software will allow you
that you’ve worked so hard to not only attain but also maintain.
each month.
Another task in managing your properties is finding quality trades-
able that can help you stay on track. It is up to you what system
carefully evaluate if they are a good match for you and your property to keep track of all your financial transactions and help you balance Good help is hard to find men/craftsmen.
There are other types of property management software avail-
you’d like to use but make sure you have something in place. You
This is almost as important as finding a tenant and the process want to keep the paperwork intact and the money rolling in. Good
is similar. In finding quality workers, it’s a good idea to set up crite- record keeping makes filing your tax returns easy. ria and what you are looking for. This person will be responsible for
Page 4D • Thursday, Jan. 26, 2017
Real Estate
THE EASTERN NEW MEXICO NEWS
How property taxes affect real estate values Maintain a checklist when property hunting
By Vanessa Doctor Articles Factory here are a number of things that people need to consider before they should enter the real estate market, and one of those things is to properly determine the value of their real estate property. This is important if they want to be able to get the most out of their real estate once they have decided to put it up for sale in the real estate market. There are some things that can affect the value of your real estate, and one of those things is your real estate property tax. People sometimes just compare the value of their real estate with the price of similar nearby properties in order to determine if their real estate property has been properly valued and taxed. Unfortunately for this type of method, there are no accurate readings. Some properties will sell for below-market value, while others will cost more than your own real estate property, even if their property is similar to yours. These differences are due to certain situational factors and circumstances which helps determine the value of your real estate property. Being able to accurately determine the value of your real estate property is important if you want to appraise it for its full sale price in the market. This means that you need to factor in all the necessary elements in order to get the value of your real estate property so you can get the best out of your property once you have decided to enter the market. There are a few factors that helps determine your real estate and property tax valuations, and these are important if you want to be able to determine your property’s actual real estate price. Your real estate property’s market value determines the amount that any potential buyer is willing to spend on buying your property. This will help you gauge how much your property value is worth, although the market value is not exactly determinative of the price of your real estate property. Still, it is an important aspect of it nonetheless. Your real estate property’s market value will chance once your property tax changes. There usually are changes in property tax once you have made certain improvements on your real estate property, which could help increase the value of your property. The common misconception of people is that they try to avoid or delay the improvement of their real estate property due to their fear that their property tax will be increased. Although this is true, the rise in the property tax assessment rate does not happen until a few years, which should have already raised the value of your property if you were able to spend a considerable amount in its improvement and development. Many small businesses who improve their real estate property are valued higher nowadays, although their property tax assessment rate has been increased. Still, the increase in their property value is still a welcome change. When a person’s property tax increases, especially if it was due to certain improvements done on the property, like the changing of the property into a type that produces much better profits, will also indicate the increase in the value of the property in the market, thereby making your real estate property more valuable than what it was before.
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By Anders Abadie Articles Factory e cautious when approaching your first major real estate transaction. By exhibiting patience and taking your time when you are choosing real estate, you can avoid becoming a victim of a scam and lessen the chances of something going awry. Now that you are embarking on a journey that will require you to make an investment in your future, you want to make sure that you are getting a good piece of property for a great price. In order to avoid buying real estate that is in need of some serious work and requires more money on your part, you need to utilize a checklist for purchasing real estate. If this is your first foray into the real estate market, it is only natural for you to feel a bit apprehensive. There are risks associated with any type of investment, but you can minimize them by acting as a very thorough and diligent buyer. It does take some time, however. So do not rush, or you may end up an unhappy owner. You need to know what to expect during the purchasing process. You should take a look at any contracts and know how to look for the perfect property. You should also be familiar with making offers, appraisals, mortgages and financing among other things. If you are buying investment property such as housing, you need to start putting down on paper what type of deal you are looking for. Calculate the amount of money you will need to invest and what you expect to earn as a return on your investment. Know what you intend to do in your immediate and longterm future. If you want to avoid a long-term mortgage and plan to own a home outright in five years or less, then you may be better off renting. This way, you are not wasting any money on a property that you don’t intend to keep and are not putting yourself under unnecessary stress. If you decide that in five years or more from now you may want to become a homeowner, you need to find a property that you love, enjoy and still feel is the perfect fit for you further down the road. Be prepared at all times. In the real estate business, it is always best if you are prepared for anything that might happen when you are dealing with a purchase. Instead of wasting your time trying to score a deal on auctions and foreclosures, you would be wise to explore more traditional properties that can be found on listings and through property brokers. Learn all you can about what having a mortgage entails. Depending on your personal credit situation, it may be quick and easy or painfully difficult for you to be approved for financing. Thus , you need to be aware of what is considered a good deal for you. It is in your best interest to screen and interview several different lenders so you can find one or several willing to give you a fair deal. This will keep you from getting in over your head and will help you to make a good decision about which lender and “Good Faith Estimate” you should accept.
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THE EASTERN NEW MEXICO NEWS
Real Estate
Thursday, Jan. 26, 2017 • Page 5D
4 hot bathroom design trends that don’t have to cost a bundle
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By Brandpoint Content
offee bars, TVs in mirrors, smart toilets and pet-friendly
Superior showers
amenities – a growing number of homeowners are re-
The shower is becoming a highlight of the bathroom, with many
questing such upscale features in their bathroom design,
renovators reporting that homeowners want customization such as
according to the National Kitchen and Bath Association.
lighting, built-in seating, benches and hand-showers installed. Re-
modeling your shower can be as simple as replacing an old-style,
Is it any wonder that association members report the average
cost of remodeling a bath is between $10,000 and $30,000? How-
static showerhead with an upgraded, more luxurious model. One op-
ever, you don’t have to spend that much to update your bathroom
tion is the American Standard drenching 6-inch square showerhead,
stylishly and easily.
paired with the Times Square shower system that features an ultraconvenient hand shower. A teak shower seat and recessed lighting above the shower are also cost-effective upgrades that can elevate your shower experience to be truly spa-like. Aging-in-place amenities Home design experts have long predicted that as baby boomers grow older, demand will increase for home features that will allow seniors to stay in their houses throughout their golden years. NKBA mem-
Popular transitional styling is depicted here with the American Standard 6-inch square showerhead and luxurious Times Square shower system and convenient handshower.
Here are four popular bathroom design preferences, plus tips
bers report evidence of this trend, with more homeowners asking for aging-in-place upgrades such as grab bars, higher vanities and chairheight toilets.
to cost-effectively achieve these looks in your home:
Transitional is trending
effective bathroom improvements. Following this pattern can be as
According to a poll of remodeling professionals, the vast majority
simple as installing grab bars in showers and tubs, and next to toi-
agreed that “transitional” was the most-requested style in bathroom
lets. Replacing knob faucets with single-handle or lever-style faucets
settings. Transitional design allows you to blend elements of both
allows people with dexterity challenges to easily and safely function
traditional and contemporary styles. The result is a comfortable
in the bathroom.
Aging-in-place upgrades are among the most useful and cost-
blend of sophistication and simplicity that is easy to create with only a modest investment.
An example is the urban depiction of the Townsend wide-
spread lavatory faucet from American Standard in dramatic legacy bronze, paired with a modern vessel sink in sleek white. The higharc, deep bronze finished faucet harkens to a classic era of design. The tapered faucet shape, reminiscent of classic bridge pediments, evokes an industrial feel of city living that fits well with a lavatory that showcases contemporary angular styling. Neutrals have staying power Long favored for their ability to create an easy-to-customize color
The distinctive high-arc American Standard Townsend widespread bathroom sink faucet with accessible lever handles is featured here in a dramatic Legacy Bronze finish.
foundation, neutral hues remain in vogue in the bathroom. Whites
and grays are the most popular color schemes, NKBA reports, al-
trends doesn’t have to cost a lot. With a few creative touches and
though these colors aren’t confined to walls or floors.
versatile pieces like new faucets and hand showers, it’s possible to
create an up-to-date look with a modest investment.
White continues to be the most popular color choice for toi-
lets, tubs and sinks. In bathrooms with these pristine-toned fixtures, you can cost-effectively play on the neutral trend by adding pale gray to the walls. For a subtle effect that will also add height to the room, paint the ceiling a gray several shades lighter than the walls.
Remodeling your bathroom to keep pace with today’s hottest
Page 6D • Thursday, Jan. 26, 2017
Real Estate
THE EASTERN NEW MEXICO NEWS