Homebuyer's Guide 2014

DAILY NEWS NORFOLK

Tuesday April, 22 2014

• Choosing the Right Real Estate Agent • Improving Crub Appeal • Home Renovations • Mortgage Approval

• Staging for a Rapid Sale • Maximize Investment • Real Estate Investing • Time Your Move

NORFOLK DAILY NEWS, TUESDAY, APRIL 22, 2014

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How to Improve Your Home’s Curb Appeal

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Men and women who have tried to sell a home are likely familiar with the phrase “curb appeal.” Curb appeal is similar to getting ready for a big date, only you’re not dressing yourself up to make a strong first impression. Instead, improving curb appeal involves dressing your home up in the hopes it makes a strong first impression on prospective buyers, many of whom will have a strong opinion about the property before they even get out of their cars to have a look around.

A home with strong curb appeal can entice buyers who are likely to believe that a home with a well-maintained exterior is likely to have an equally impressive interior. Homeowners who want the process of selling their home to go smoothly can improve the property’s curb appeal in a number of ways, many of which don’t necessitate a substantial home improvement budget. * Clean up. The most effective way to improve curb appeal is to clean up the property. Many homeowners are savvy enough to remove toys and other items from the yard before showing a home, but cleaning up goes beyond removing clutter from the property. Make sure all hedges are trimmed and remove weeds, sticks and other debris from any flower beds.

Lay mulch in the flower beds and garden, as mulch prevents weed growth while helping the soil retain moisture, resulting in more attractive gardens to catch a buyer’s eye. * Get an “edge” on other sellers.

Edging is another easy and effective way to improve curb appeal. Edge driveways, sidewalks and other walkways around the property, removing or trimming anything that is hanging over the driveway or walkways. If the boundary between your driveway and lawn is not distinct, consider installing edging materials such as stone or bricks. The edging can be level with the driveway or elevated, but keep in mind that elevated driveway edging can protect the lawn, preventing kids from riding their bicycles onto the lawn or cars from driving onto it. Adding edging is not a very difficult do-it-yourself project. * Take to the trees.

Many homeowners grow accustomed to overgrown trees around their property and may not notice that low-hanging, unsightly branches are hiding the home from view. Buyers want to see the house, so take to the trees and trim any branches that hang too low or obscure your home. * Clean the gutters.

Leaves and sticks hanging from the gutters are a red flag to buyers, who tend to associate clogged gutters with roof damage. Clean the gutters thoroughly before putting your home up for sale and keep them clean throughout the selling process. If your property includes lots of trees, install guards to keep twigs and leaves out of the gutters. * Make the home accessible through the front door. Many homeowners enter their home through a side door or through their garage. If you fall into this category, keep in mind that prospective buyers will be entering through the front door, so make this area accessible. Clear any clutter, such as overgrown hedges, away from the front door, and consider upgrading the door handle to a more modern feature. In addition, make sure the lock on the front door doesn’t stick, forcing the realtor and buyers to immediately struggle before entering the home. You want buyers and their real estate agents to get in and out of the home as smoothly as possible. * Make sure all plants, including flowers, are living. Dehydrated or dead plants and flowers are eyesores, and they will give buyers the impression that you didn’t pay much attention to your property. Make sure all plants are alive and thriving and replace those that aren’t. You can replant new flowers or plants or just use potted plants instead.

When purchasing new plants, choose low-maintenance varieties that appeal to buyers who want good vibrant plants but might not want to put much work into the garden.

When selling a home, homeowners can employ a number of tactics to improve their home’s curb appeal.

NORFOLK DAILY NEWS, TUESDAY, APRIL 22, 2014

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NORFOLK DAILY NEWS, TUESDAY, APRIL 22, 2014

Real Estate Investing For Beginners On the heels of a recession that saw home values drop, many would-be investors have shied away from buying investment properties. But real estate has historically remained a sound investment, boasting a long-term appreciation rate that makes it a worthwhile investment for those who can withstand temporary setbacks in housing prices and hold on to their properties over the long haul.

But investors are often nervous as they look for their first properties.

Uncertainty about housing prices aside, investing in real estate also is risky, and first-time investors need to be comfortable with such risk in order to make the most of their investments. The following are a few things potential real estate investors should consider as they decide if investing in real estate is right for them.

Personal ability

Real estate investors typically have tenants, and those tenants inevitably have needs. Investors who have experience as contractors may not find it difficult to renovate a property and make it more attractive to tenants, nor are they likely to be inconvenienced when minor issues on the property need to be addressed. Investors with no such experience will need to hire contractors to do the work for them, cutting into potential profits down the road. In addition, investors who don’t have the ability and/or the time to address minor issues like a clogged drain or a drafty window on their own will need to hire a property management firm to tend to such needs. Such firms are effective, but also expensive, further cutting into your profits.

Even those investors with contracting experience may have little or no knowledge of how the leasing process works, forcing them to rely on a real estate firm to write up leases and ensure all leases stay current. This, too, can cut into an investor’s profits. Investors who don’t bring any relevant expertise to the table can still make a profit from their real estate investments, but those profits likely won’t be as significant when outside companies must be hired to ensure the property is in good shape and all necessary documents are in order and up-to-date.

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Time

Real estate is often a time-consuming investment. Tenants pay good money to live in attractive rental properties, and those tenants will have a host of needs that must be met. Investors must be sure they have the time to address their tenants’ concerns, especially investors with no plans to hire property management firms. Potential investors who already have full plates at work and at home may not be able to devote the time necessary to make the most of their real estate investments, and therefore might be better off finding another way to invest their money.

Time also must be considered when considering profits. Real estate is not the type of investment that turns a profit overnight. Even investors who are looking to invest in an up-and-coming neighborhood must be prepared to hold onto their properties for at least a few years, if not much longer, to maximize their investments. Though real estate is a sound investment, it is not a get rich quick type of investment, so investors looking to make a quick buck should consider alternatives before buying investment properties.

Size

First-time real estate investors might be wise to choose a smaller property for their initial investment. Larger properties can be overwhelming to manage, and investors often rely on property management firms to tend to these properties. Such firms charge more to manage bigger properties, which can eat into investors’ finances. Veteran investors can handle such overhead costs, but first-timers might find themselves caught off guard upon realizing the gravity of their financial commitment. A good rule of thumb for first-time investors is to stick to smaller properties, only moving on to larger buildings once they are fully comfortable with all that comes with investing in real estate.

Costs

The cost of a real estate investment goes beyond the purchase price of the home. In addition to the mortgage on the property, investors must pay the taxes and insurance on the property, as well as any costs associated with maintaining and managing the property. Certain tax breaks are available to real estate investors depending on where they live.

For example, in the United States, taxes on the profits when a property is sold may be deferred if those profits are immediately rolled into another property (such a deferment is only available to those investors who arrange this exchange prior to selling the initial property). Potential investors need to consider all of these costs, and might want to hire a real estate lawyer to help them make the most of their investments and any profits they yield.

But even hiring an attorney is an additional cost investors must consider before investing.

NORFOLK DAILY NEWS, TUESDAY, APRIL 22, 2014

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Staging Your Home for a Rapid Sale Did you know that most potential buyers form an opinion of the home they are visiting in the first 90 seconds? That 90 percent of people are incapable of imagining living in a home that has not been prepped?

There are some very specific techniques you can apply to neutralize your property so that it will please the majority of buyers, influence the sale

price, and reduce the length of time your home is on the market.

The first step in the “staging” of your home is to create new arrangements with your furniture. This will highlight the positive aspects of your living space, such as open areas, ease of circulation, size, light, and the main purpose of each room.

It is important to create as much room as possible so that visitors have an

impression of space and dimension.

To do this, keep only the furniture necessary for daily life, such as the kitchen or dining room table, the sofa, chairs, and other decorative elements that are both simple and neutral. Walls, shelving units, and kitchen counters should be populated very sparingly. Art works, family photographs, and ornaments are all elements that could put potential buyers off. Personal items tend to distract visitors and prevent them from being able to imagine living in your home.

The idea is to depersonalize your rooms, to make them neutral by opting

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NORFOLK DAILY NEWS, TUESDAY, APRIL 22, 2014

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Who is Responsible for Repairs During a Home Sale?

Many questions arise during the home-buying process. Buyers looking at homes that require a good deal of TLC may wonder who is responsible for the home’s repairs, particularly if such repairs are needed to secure a certificate of occupancy. Depending on the situation, there is no clear-cut answer.

There is no perfect home, and things that are acceptable to the current owner may not be acceptable to the buyer who is looking to become the next owner. The home-buying process is typically a careful cooperation between buyer and seller to find a middle ground. The buyer may have to make some concessions, as will the seller.

Before any negotiations can begin regarding repairs, it is adviseable for a buyer to have an independent inspector come out and look over the home and property. Most real estate agents will suggest this be done as a first priority -even before a contract is entered on the home. An inspection will unveil any potential problems in a home and indicate things that the buyer may not be aware of, including items that do not meet with code or could be unsafe. An inspector also may point out problems that could cause a mortgage lender to give pause. This may mean the lender will deem problems unsafe and refuse to fund the mortgage until repairs are made.

A copy of this inspection report should be sent to the home seller to review with his or her attorney and real estate agent. The buyer working with his own real estate attorney and agent can petition for certain repairs to be made.

Many sellers will make such repairs to ensure the purchase goes through, or they will accept a lower purchase price to compensate for the needed repairs, which the buyer will then make. Buyers might want to hire a good real estate attorney to write clauses into the contract to protect their interests. This allows the buyer to forfeit the sale and walk away

from the contract should an issue arise.

The rules often change when buying a home that is a short sale or in foreclosure.

A home that is in distress is typically in this situation because the current owners cannot afford to pay their mortgage, and thusly, are not able to afford repairs.

Buyers may try to negotiate repairs with the seller, but they shouldn’t assume that sellers (or lenders in the event of a bankowned home) are responsible for the repairs. Generally speaking, most short sales and foreclosures are sold “as is” and may even specify that repairs and requirements for the certificate of occupancy are the buyer’s responsibility.

A buyer also can ask to have the home price reduced to cover the repairs. But foreclosures are often already deeply discounted.

Buyers should know that, for a home that is not in foreclosure, there are some repairs that should ultimately be the responsibility of the seller. If these repairs are not made, a buyer should think strongly about walking away from the deal, according to Why6Percent.com, a real estate marketing site. Such repairs include: * lender-required repairs that could impact home safety * leaky pipes * water penetration issues, including a bad roof * unsafe decking or handrails * wet basements or crawl spaces * insecure foundations or obvious structural damage * poorly functioning sewer lines or septic system It is always adviseable for buyers to speak with a reliable real estate attorney and a trusted real estate agent to guide them through the process of buying a home. These people can help buyers navigate the important decisions that can affect the home they’ll be living in for the next several years.

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You signed a contract with a real estate agent and the ‘FOR SALE’ sign is staked on your front lawn. As your agent begins his or her work, so should you.

Remember, when it comes to a house, the suit makes the man... in other words, the appearance of your house affects how quickly your agent will find a buyer.

A potential buyer must have a good impression of your property on the first visit. For this to occur, your house must inspire confidence. Often, the small details make all the difference.

It is suggested that you put yourself in the shoes of a potential buyer as you visit your own property. What are the things that you dislike about your house? Start your visit with... the sidewalk. What do you think of the exterior of your property?

Is the paint on the doors and windows in

good shape? Does the veranda look tired?

Is your lawn littered with bicycles, equipment, and remnants from your last weeding session?

If a good impression of the exterior is important, the interior look of your house is critical! Continue to examine your home with the same critical eye.

When you receive potential buyers, be sure to eliminate all cooking, disinfectant, and strong perfume odors. If you own pets, pay attention to the litter boxes. If you smoke, it is best to hide the ashtrays and thoroughly air out the house.

In short, keep in mind that if your home appears neglected, the buyer is left with the impression that all maintenance of your property has also been neglected.

NORFOLK DAILY NEWS, TUESDAY, APRIL 22, 2014

Making the Right Choice!

Before buying a property you should try to surround yourself with competent people who will know how to help you.

Beware of con artists and do business with recognized professionals.

will cost a few hundred dollars depending on the size and the state of the property inspected.

The real estate agent

You can choose to have a home evaluated by an independent evaluator before making a purchase offer. An evaluation will insure you that you are paying the proper market price.

A real estate agent will help you find the ideal property. But above all, he or she will write the purchase offer, negotiate in order to obtain the best possible price for you and, finally, will coordinate the inspection of the property.

The lender or the mortgage broker

Numerous establishments grant mortgage loans, including banks, credit unions and financial institutions. You can also call on the services of a mortgage broker, who will be able to find you the best available rate.

The lawyer or notary

This specialist will ensure that all legal aspects of the purchase are in order.

He or she will examine all the necessary contracts before you sign them, particularly the purchase offer.

The inspector

Inspectors will advise you if anything in the home does not work correctly or is not safe. They can even tell you where they think problems have arisen in the past. Generally speaking, an inspection

The evaluator

The surveyor

If the seller has a certificate of localization or survey certificate, which is more than five years old, it should be updated. This is the job of a land surveyor who will ensure that everything is in order.

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Not all mortgages are created equal!

There are two, very different ways of obtaining a mortgage: through a financial institution or from a mortgage broker. In both cases, three risk factors will be analyzed: the mortgage guarantee (the down payment, the value of the property, and the market); the financial status of the borrower (revenue, job stability, financial obligations and debt ratio) and the borrower’s credit rating (quality, ratio and score).

Once a borrower has been accepted by one of these institutions, several types of mortgages are available to them. Among these mortgages there are five basic strategies. A “5 by 5” is renewable five times with a fixed term of 5 years. A “long-term” is a fixed mortgage with a period of 15, 18 or 25 years. There is also a mortgage with a

variable rate of interest which fluctuates with the prime rate. There is also another strategy which, over time, allows the interest paid on a primary residence to be deducted from personal income taxes. Lastly, there is the mortgage which requires no down payment, which carries certain conditions which allows homes to be purchased quickly rather than having to rent an apartment.

The names of these mortgages will change depending on which financial institution you decide to deal with.

Whether we’re talking about “open”, “closed”, “convertible”, “fixed rate”, “closed reduced variable rate”... there are mortgages available which meet everyone’s needs. Your best move is to consult a mortgage specialist.

Primary Mortgage Insurance Protects Lenders Primary mortgage insurance, or PMI, protects lenders in the event that borrowers default on their primary mortage by ceasing to make payments, resulting in homes ending up in foreclosure. But all borrowers do not have to pay PMI. Typically, home buyers must make a 20 percent down payment on a home when they buy it. However, some borrowers are unable to put down 20

percent. In such instances, the lender will require they pay PMI. This is because the lender views a borrower who cannot make an initial 20 percent down payment as a riskier investment, and lenders charge PMI in an effort to protect themselves should the borrower prove worthy of their skepticism. PMI will be factored into the monthly mortgage payment, but borrowers should know they do not have

to continue paying PMI once they have paid enough toward the principal amount of the loan. For most, this means once they have paid 20 percent of the principal, then they can ask that the monthly PMI payment be removed. Many borrowers are unaware of this or even forget to ask, but it’s within their rights as borrowers and can save a substantial amount of money over the course of the mortgage loan.

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NORFOLK DAILY NEWS, TUESDAY, APRIL 22, 2014

Simple Ways to Maximize Profits on Your Investment Property Real estate investors have many reasons for making such investments, but one of the more common motives behind a decision to invest in a property is the belief that real estate rarely depreciates in value. Though the recent housing crisis might have debunked that myth once and for all, real estate is still widely considered a sound investment, one that many people wish they could afford to make.

Those who have already invested in real estate know how difficult it can be to maintain a property much less improve it, which should be high on an investor’s priority list. But improving a property does not have to involve a complete overhaul or any other dramatic changes.

In fact, there are several simple ways investors can improve their real estate investments and improve their chances of turning a large profit when they decide to sell a property. * Hire a property management firm.

Some real estate investors, especially those new to the business who just purchased an investment and have little money to spare, shy away from hiring a property management firm. But such a company is worth the expense for investors with little time or know-how with regard to fixing a home. A property management firm will ensure the building is kept in shape, and depending on your agreement with the company, may even take care of cleaning vacant apartments, readying them for showing and renting

them to new tenants. Perhaps the biggest advantage to working with an effective property management firm is the likelihood that they will turn over the vacant apartment quickly, ensuring you aren’t losing money when tenants move out. * Carefully vet prospective tenants.

One of the easiest ways a property can fall into disrepair is to allow bad tenants to move into the building. It’s understandable that investors want to get a building occupied as quickly as possible so they can use tenants’ rents to pay for the property. But bad tenants can cause damage to the property, and their behavior might encourage reliable fellow tenants to find a new living situation.

When looking to fill a vacancy, establish

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a minimum income requirement for prospective tenants and ask applicants to produce proof of income and references from past landlords. This increases the chances you will find a respectful tenant who’s fully capable of paying their rent on time. * Work quickly. Few people want to rent forever, so expect significant turnover, especially if your investment property is a larger complex with multiple dwellings. If you aren’t working with a property management company, an easy way to maximize your profits on an investment property is to work quickly when turning apartments over after a tenant moves out. This includes painting and cleaning the apartment, and the process should go smoothly if you properly vetted tenants and the vacant unit did not suffer significant damage while the previous tenants were living there. A unit with just minor wear and tear should take one week or less to get ready to show to prospective tenants, and the unit should be vacant for only one month before new tenants move in.

Anything longer than a month and you’re

losing money you don’t have to lose. * Upgrade appliances. Renters are just as likely to fall in love with curb appeal as buyers are. While there may not be a yard to entice renters if you purchased an apartment complex, curb appeal can apply to an apartment’s interior. One of the more notable eyecatchers to prospective renters is updated appliances, especially since appliances may be the only items actually in the apartment when it is shown. Stainless steel appliances provide an instant upgrade over older appliances that may appear dated and are certain to make a strong first impression on prospective renters, many of whom would be willing to pay more in rent for a unit with updated appliances. In addition, renters may feel that landlords who took the time and spent the money to upgrade appliances are likely to make a greater effort maintaining the property.

Investors can maximize their returns on investment properties in a variety of ways, many of which don’t require significant effort.

How to Get Approved for a Mortgage Real estate professionals say the market is rebounding, and many would-be home buyers are eagerly awaiting their opportunities to purchase their own homes.

Fresh data indicates that the inventory of properties is quickly drying up and soon the market is poised to point in the sellers’ favor.

No matter how many affordable homes are available, if a buyer cannot get approved for a mortgage, then his or her chances of owning a home are slim. In the wake of a tumultuous economy, many lenders tightened restrictions on mortgage lending. And even though the economy has rebounded, many lenders have continued to follow strict guidelines before lending money. In order to secure a mortgage with a good interest rate, buyers must take control of their financial situations and fix problems that could lead to loan rejection.

Many things can impact a mortgage application. Here are the ways to overcome liabilities and improve your standing with prospective lenders. * Know your credit rating. Your credit rating is a score that lenders rely on when deciding whether or not to approve your mortgage application. The higher the credit rating, the more attractive you look to prospective lenders. But the lower your score is, the more difficulty you will have getting a loan. Should you get a loan with a low score, you may have to pay a higher interest rate than someone with better credit. Prior to making any big financial decisions, such as applying for a mortgage, it is vital to find out your credit score. You can request a free copy of your credit report, which includes your credit score, once a year from the three major credit reporting agencies in the United States and Canada: TransUnion, Experian and Equifax. You also can pay for your credit report. * Address any issues on your report.

Once you know your score, you can take steps to address any issues on the report.

Pay down revolving consumer debts, such as credit card balances and auto loans.

Report any errors on your credit report so they can be adjusted. Pay bills on time and address any notices of collections before they make it onto your permanent record. If you will be applying for a loan soon, avoid opening any other credit accounts for the time being. * Maintain steady employment.

Having a job is often vital to getting a mortgage. Lenders tend to look for longterm financial stability, which is best illustrated by maintaining steady employment. Jumping from job to job may be a red flag to lenders, so it’s better to make a switch after you have been approved for a loan. * Save, save, save. Having more money in the bank lowers your loan-to-value ratio, or LTV. This will make you appear less risky to lenders. Individuals who have saved for a considerable down payment on a home are also seen in a better light. * Make sure you have a credit history.

Some people are too cautious with their credit and think closing accounts or avoiding credit entirely will make them more attractive to lenders. But this can backfire. Lenders will want to see a strong credit history that indicates your ability to pay your debts on time. * Get a cosigner. If you are uncertain about your ability to secure a loan on your own, then consider a cosigner to make you more attractive to prospective lenders. The cosigner helps guarantee the lender that your mortgage payments will be made.

People looking to buy a home in the near future must make themselves attractive to mortgage lenders, many of whom are still reluctant to approve loans for candidates without strong financial backgrounds.

NORFOLK DAILY NEWS, TUESDAY, APRIL 22, 2014

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NORFOLK DAILY NEWS, TUESDAY, APRIL 22, 2014

Sealing a Driveway can Extend its Life Installing an asphalt or a concrete driveway can be an expensive undertaking. To preserve the fresh, new look of the driveway, have the driveway sealed and then routinely seal it to keep it looking pristine.

A good sealant can keep a driveway looking new longer and also can rejuvenate the appearance of an older driveway. Sealant can be compared to car wax. It provides an outer coating that will repel stains, stop UV rays from fading the driveway and help to protect against cracks and driveway degradation.

Over time, asphalt driveways will begin to fade in color and the stone and rocks

used in the asphalt mix will appear more prominent. By sealing the driveway, a homeowner can maintain its original dark color.

Another reason to seal a driveway is to reduce the chance of freeze-thaw damage. This type of damage results when water penetrates the surface of the driveway and then expands as it freezes.

The expansion can cause cracks and fissures, as well as compromise the soil underneath the driveway, making it sink or become unstable. Sealed driveways help to keep water beading on the surface of the driveway, rather than being absorbed into the driveway material.

When water no longer beads on the driveway, this is often an indicator that the driveway needs to be resealed.

There are some guidelines to follow when sealing driveways. When starting, sealant should not be applied immediately after the driveway is poured.

Concrete needs to cure for a period of up to one month before sealant should be applied. Fresh asphalt contains oils that eventually evaporate. The oils are what makes fresh asphalt pliable and soft.

Once these oils evaporate, the asphalt gets harder and more durable. Sealers can prevent evaporation and may make the asphalt permanently soft.

After the initial base application of sealant, the driveway should only be sealed every two to three years,

depending on its condition. Sealants are just coatings, and adding too many layers can cause the sealant coatings to crack and peel away.

Sealing a driveway is a labor-intensive process that’s best left to professionals.

These professionals have the knowledge of technique and the right tools to get an even, thin coating of sealant. Remember, a driveway should not be walked or driven on for a minimum of 24 hours after sealant is applied. Weather conditions also can influence the amount of time it takes for the driveway to cure.

Having the driveway sealed prolongs its durability and appearance. It also can make the driveway less prone to staining and cracking, making this project a sound investment.

Practice Garage and Workshop Smarts Completing home improvement projects on your own can be both rewarding and financially responsible. A growing number of homeowners are dabbling in do-it-yourself projects, recognizing both the personal and financial rewards of such undertakings.

As more and more homeowners perform their own renovations and other improvement projects, many are outfitting their homes with state-of-theart workshops and transforming garages into a do-it-yourselfer’s paradise.

Safety is vital in any workshop.

During a typical home renovation, homeowners will use all sorts of dangerous tools and chemicals, and even the simplest mishap can result in a serious injury. Following safety rules can reduce the risk of injury.

Know your tools

Before novice do-it-yourselfers begin working with power tools, they should familiarize themselves with their owners’ manuals and the operating instructions.

Some home-improvement retailers offer classes in various home renovation projects and may be able to teach tool usage. Do-it-yourselfers should consult professionals with regard to proper tool use and safety. Do not use tools for purposes other than what the tool was intended to do. If machine guards are provided, they should be used and never removed.

Wear safety gear

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Eye, ear and breathing protection are key in any workshop environment. Dust and chemical gases may be present when working with certain products, and debris can be kicked up and enter the eyes, causing irritation or even blindness. Loud power tools can damage sensitive ears, especially when used in a contained room. Always wear goggles, soundmuffling earphones and dust masks when working.

Assess physical well-being

Do-it-yourselfers should never work with

machinery if they are feeling sick or fatigued or while taking medication that can affect concentration or alertness. All it takes is a moment of distraction to cause an injury.

Never surprise anyone who is working with power tools and keep unnecessary people out of the workshop, where they might chat and distract others from the tasks at hand.

Factor in ergonomics

Failure to work in comfortable conditions can result in repetition injuries or muscle strain. Make the workshop as comfortable as possible. Ensure the work table is at the right height. Use a rubber mat on the floor to reduce standing fatigue. Have a stool or chair available for taking breaks.

Keep a clean shop

Power cords strewn around the workshop present a tripping hazard.

They also make it possible to drag sharp or heavy tools off of tables and workbenches if the cords are pulled or tripped over. A neat workshop is a safer workshop. Pay attention to where tools are kept and keep cords manageable.

Dress appropriately

Loose clothing and hair can become tangled or lodged in equipment. Do not wear jewelry. Dress comfortably but appropriately for the workshop, being sure to wear sturdy shoes.

Lock it up

Children and pets are curious and may wander into a workshop to explore.

They can become seriously ill or injured by chemicals and tools used for common projects. Some items are flammable and sharp and should always be out of reach.

Locking cabinets and drawers can keep tools inaccessible. Also warn youngsters against entering the workshop unattended.

As more people engage in do-ityourself projects, homeowners should reacquaint themselves with safety procedures.

NORFOLK DAILY NEWS, TUESDAY, APRIL 22, 2014

How to Increase Storage in Tight Spaces at a premium, you may need to look up for storage. Frequently used pots and pans can be hung from a decorative rack in your kitchen. Use magnets on jars to store a spice rack on the wall near the stove. Racks above cabinets or on doors can be used to store everything from shoes to jewelry to toiletries. Shelving in children’s rooms can store lesser used toys away from the floor.

Empty walls are valuable real estate in a small home, and tall bookshelves can house a number of different things. * Use see-through storage containers.

Many people find that plastic storage bins are neater and more stackable than boxes.

See-through bins enable you to quickly find items so that you are not searching around the house for lost items and creating a bigger mess along the way. Clear storage containers work in the refrigerator, too. You can more easily spot leftovers, and uniform stacking containers free up more room for bulkier items. * Make use of space beneath your bed.

There likely is ample room to store more things than just dust bunnies beneath your bed. A bed frame with built-in drawers is the perfect place to keep bed linens and outof-season clothes. Beds can be raised on blocks to create more space underneath for storing rolling plastic containers and even seldom-used suitcases. * Opt for an armoire. Armoires are not exclusive to bedrooms. Armoires can be used in dining spaces or in dens to store items out of sight. An armoire can be used when retrofitted with a pull-out shelf as a laptop desk, storing all office items behind closed doors when not needed. * Improve storage in the bathroom. Try to choose a vanity that has under-the-sink storage so you will have a place to store some toiletries. Home improvement centers sell cabinets and etageres that can be placed above the toilet tank as a storage space for bathroom items. In the shower, hang a second tension-loaded shower curtain rod on the inside of the shower enclosure that can be used to hold bags of kids bath toys and other toiletries, keeping them off the tub ledges.

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Cozy, quaint homes attract many home buyers and renters. Be it a cottage-style house or a studio apartment, smaller living spaces often involve getting creative with storage.

People live in smaller homes for a variety of reasons. Some choose to live in a smaller home so they can be right in the thick of things in a city or urban center. Others scale back on living space in an effort to save money. But storage space in small quarters is often at a premium, and thinking creatively is a necessity to keep the home tidy and items out of view.

Rainy or chilly days are the perfect times to tackle indoor organization projects.

When the outdoors isn’t beckoning, you can devote all of your attention to addressing storage issues in your home. To begin, take inventory of what you have, going through your possessions and determining what can stay and what can go. Part with anything you haven’t used in quite some time.

The next step is to sort items and get organized. Then you can find a place for everything. For example, if you have a dozen bath towels but only one sauce pot, you will need to find more room for linens than kitchen cookware. You may need to borrow space from one area of the home to give to another area. The following are some additional tips to increase space in an otherwise cramped home. * Add shelves. Increase cabinet and closet space by adding shelves into them.

This may double or even triple the amount of usable space, especially if you customize the shelving to fit storage containers you use to store everything from shoes to craft items. * Opt for dual-purpose furniture.

Benches with lids that lift up and sofas that convert into guest beds are just a few of the many ways you can keep a small home neat and increase storage space. An ottoman is a great place to store extra blankets and linens, while a trunk or crate with a sturdy top can be used in lieu of a traditional coffee table to keep books or board games. * Think vertically. When floor space is

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NORFOLK DAILY NEWS, TUESDAY, APRIL 22, 2014

What To Look For When Visiting A House

A Home is More Than Just Four Walls and a Ceiling When you buy a home, you are buying a living environment that extends beyond the limits of your property. This environment includes all the services, businesses, neighboring homes, schools and public spaces that surround you. It even includes streets, parks and power lines!

That’s why it is important to consider what is outside the home as much as what is inside it. Do you want to be located next to the industrial area where you will be working? Do you want to be conveniently located next to a major highway? But what about the noise and pollution that come with them? Perhaps you like the convenience of being close to a school, shopping mall or good restaurants. But how close is too close?

Sometimes you can be close to these conveniences but still find ways to have privacy and tranquility.

Having large, mature trees on your property is one way to block out noise. It’s also worth learning about the habits of your future neighbors. Perhaps one of them is an avid motorcyclist or handyman who likes to do his thing at the crack of dawn.

If you have children, you will probably want your home to be near a school, public park or daycare. You might also want to be located near public transportation with ample parking space if you have to commute to work each day.

Other nearby services you may want to look for include a police station and fire hall, which will lower the cost of home insurance.

So before making a bid on a home, take a good look at what surrounds it.

You might even want to visit the area at different times of the day in order to get an earful of what types of noise and activity are typical for the area.

So, you want to buy a new home and you have found a few potential properties. But how can you tell the difference between a “dream home” and a “heap of junk”?

Buying a home is a big decision that should be made rationally. For this reason, there are certain things you should look for when visiting a house for the first time. For example: • • • • • • • • • • • • • •

Finally, visually inspect all the drains, pipes and kitchen and bathroom fixtures to make sure they are in good condition. Making a checklist of the above questions and bringing it with you when visiting new homes can be a great help.

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Are there any cracks in the walls close to door frames, window frames or in the corner of ceilings?

Is the ceiling level?

Do all the inside doors open and shut properly?

Do the windows open and shut properly?

Is the floor solid? If ceramic tiles have been used, are they cracked?

Has any mold or mildew built up around the windows or in the bathroom?

If the house has a fireplace, are there any signs of smoke over the hearth? Is the damper air proof?

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NORFOLK DAILY NEWS, TUESDAY, APRIL 22, 2014

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Begin the New Year in a New Home After flatlining during the economic downturn that began around 2008, housing markets in many regions of the United States and Canada have shown signs of recovery. Those in the market to buy and sell may find this year presents an ideal opportunity to do just that.

According to the real estate listing Web site Zillow, home values rose 5.1 percent across the United States between February 2012 and February 2013.

The latest forecasts indicate a strong housing demand into 2014, at which time a strengthened economy will energize both resale and new housing markets.

Buyers will need to be prepared to purchase inventory right away, while sellers will need to price their homes right for the best chance of sale. The following are some guidelines.

Buyers Having a plan is essential when buying a home, as such a purchase is not something buyers should take lightly.

Establishing a budget is the first step.

This means taking inventory of savings, expenses and borrowing power. It is adviseable to sit down with a lender and do a run-through of what you can afford.

By providing key financial information, including earning statements, existing debt and credit history, buyers can quickly learn how much they’re qualified to borrow and how much they are comfortable borrowing. This helps buyers zero in on homes in their price range.

Being preapproved for a mortgage is advantageous when it comes time to make offers on properties. It shows sellers that buyers are serious and that they have been vetted by the bank.

Many buyers conduct a lot of research online prior to stepping into a home. This research lasts an average of six to eight weeks, according to the National Association of Realtors. Homework includes investigating neighborhoods and school systems, comparing the going rates of homes in the area, as well as figuring out which features are desired in a home.

It also is important to hire a buyer’s

agent. Such professionals send buyers listings that fit their home-search parameters, which saves buyers a lot of time and effort. Some agents preview homes for their buyers, even going so far as to identify overpriced listings that can be avoided or finding sellers who are willing to negotiate. A buyer’s agent works for the buyer, meaning there will be no conflict of interest. Agents assist buyers in the negotiating process, using their knowledge of the real estate market to help buyers make realistic offers that are likely to be accepted while providing a wealth of information about housing trends, area services and home improvement vendors.

When sellers accept buyers’ offers, buyers must then arrange home inspections. An inspection is oftentimes included as a contract contingency, and buyers have a right to cancel contracts if inspections find that a home is unsatisfactory structurally.

Sellers Sellers competing for business in a thriving housing market also have to do their share of work. It is unlikely sellers will be able to list their homes for sale one day and have dozens of offers the next. Today’s buyers are much more conservative, and homes will have to be presented in the best light and listed at reasonable prices.

Sellers can start the process of selling their homes by researching recently sold

homes in their neighborhoods, paying particular attention to final sales prices.

This information may be available through tax records, and some real estate sites publish the data online. Sellers can then compare this information to what they still owe on their mortgages if their homes are not paid off, and this should give sellers an idea of their potential profits.

Sellers also can benefit from working with real estate agents, as it can be quite difficult and stressful for homeowners to sell their homes on their own. Agents have access to multiple listing databases and industry contacts, information that is quite valuable when selling a home.

Agent will do their own assessments of a home to help sellers price the home accordingly based on market conditions.

In addition, real estate agents can inform sellers about which, if any, repairs or changes may need to be made to make a home more attractive to prospective buyers. Real estate agents also help sellers through the negotiating process, finding a balance between what the buyer wants to pay and how much the seller wants for the home.

Housing markets are once again looking up. As the new year arrives, many people may find now is the time to find their next homes. Understanding the process and getting guidance from real estate professionals makes the process of buying and selling a home that much easier.

Time Your Move Right to Save Money Buying a new home is the most expensive purchase a person is likely to make in his or her lifetime. It also can be one of the more stressful. The Employee Relocation Council states that moving is the third most stressful event in life, following death and divorce. But a welltimed move can reduce stress and save money.

Moving during certain times of the year can result in considerable savings. Moving during the summer, when children are out of school and the weather is nice, can make a move more manageable. Keep in mind that because late spring and summer are the peak moving seasons, they also tend to be more expensive. Many moving companies and truck rental agencies will charge a premium if you use their services during the summer. Furthermore, crews may change in the summer when students on vacation could fill in for regular, more experienced movers.

High prices are not only reserved for those who buy a new house during the spring and summer. Renters may find spring and summer is also the peak season for rentals. Many apartment managers can attest that the dates between June 2 and August 30 are quite busy in terms of apartment turnover. College students are more likely to move as soon as the academic year ends, and many landlords plan leases to expire in the summer months to ensure that re-renting places will be easier thanks to a flooded apartment

market.

People sitting with homes on the market are also more likely to negotiate during cooler months when foot traffic has fizzled out. That can make shopping for a home in the fall advantageous to home buyers.

Here are some other tips to reduce stress and save money when moving into a new home or apartment. * Move mid-week. Weekends are a prime time for truck rentals and moving companies. Pick a Tuesday or a Wednesday to move, and you’re much more likely to find an available moving service (even during peak moving months); you may even be able to negotiate a lower rate. * Pick a mid-month moving date. Many people move at the beginning of the month when leases are up or after mortgage payments are made. Fewer people move in the middle of the month, so you might find more affordable moving deals if you can wait a few extra weeks. * Schedule a fall or winter move. The American Moving and Storage Association says half of all moves occur during one-third of the year -- between the beginning of May and Labor Day. Beat the rush by moving outside of these dates. * Get an early start. Many people underestimate the amount of time it takes to actually move their belongings. Try to schedule a moving company to come very early in the morning to give you ample time to pack up the truck and unpack at your new home.

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NORFOLK DAILY NEWS, TUESDAY, APRIL 22, 2014

Buying a Condo Not the Same as Buying a Home Stringent lending policies and the escalating costs of home ownership have led many prospective home buyers to consider condominiums instead of singlefamily homes. Condos are typically less expensive than single-family homes, which makes lenders and borrowers alike feel more comfortable. Lenders feel better because the loans aren’t as large, while borrowers are more comfortable because such loans allow them to improve their standing with lenders, potentially setting the table for a low-interest home loan down the road.

But the differences between buying a condo and buying a single-family home go beyond the bottom line. The following are a few things prospective buyers should know about condos before they view any properties. * Condos come with fees. Unlike single-family homes, condos come with homeowners association fees. These fees cover the cost of maintenance and repairs to the property. This includes landscaping and garbage collection, as well as general repairs throughout the condominium complex. Fees vary significantly from community to community, and the best deal is not always the one with the lowest homeowners association fees.

Low fees tend to provide less bang for the buck, generally covering only the most basic services. Higher fees often mean the community offers more amenities, such as a private pool and gym for residents. Some people prefer such amenities, while others would rather find better deals on their own.

But prospective condo buyers must include fees in their monthly budgets when determining how much they can afford to spend. * Condos come with rules. Owners of

single-family homes can create their own rules for their households, while condo owners must agree to follow rules established by the homeowners association or the property management firm responsible for maintaining the community and enforcing the rules. Rules may not allow pets or only allow pets of a certain size.

Other rules may restrict how owners can decorate their condos during the holiday season or how they can furnish the exterior of their properties, limiting patio furniture to a set number of chairs or tables. Some condo owners are glad such rules are in place, while others might find such stipulations intrusive. Each community has different rules, and prospective buyers should familiarize themselves with a community’s rules before buying any properties within that community. * Condos often have management firms. Property management firms can be great to deal with, but they can be troublesome as well. A good property management firm produces satisfied community members who speak glowingly of their communities, while a poorly run management firm can frustrate homeowners who feel they are not getting what they’re paying for. Some property management firms fail to collect homeowners association fees for months at a time, only to send letters demanding

back dues down the road. Others simply don’t live up to expectations, failing to make repairs in a timely manner while letting the property fall into disrepair. If possible, speak to current community residents about how the property is managed. If residents are not available, potential buyers should attempt to attend a homeowners association meeting, which can shed light on what it’s like to live within a given community and how accessible the management firm is to community members and how well it tends to those members’ needs. * Condos are not as private as singlefamily homes. Much like apartment dwellers, condo owners often share walls with neighbors. That means condo owners will have to sacrifice some privacy. Prospective buyers who consider privacy a top priority may want to continue living in an apartment until they can afford to buy a single-family home.

Though condo owners rarely have someone living above or below them, sharing walls with neighbors is still not as private as owning a single-family home.

Condominiums are great options for people who want to own their homes but don’t have enough money or credit history to buy a single-family home. But buyers must educate themselves about condominium life before signing on the dotted line.

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NORFOLK DAILY NEWS, TUESDAY, APRIL 22, 2014

Want to Get the Best Price For Your Home?

At first glance, selling a home doesn’t seem to be all that complicated: you appraise the value of your home, stick a “for sale” sign on your front lawn and wait for a serious buyer to call.

Unfortunately, selling a home is never that easy. It can be a long and complicated process that involves signing a legally binding contract.

Relying on the help of an experienced real estate agent can make all the difference between a straightforward process and a total nightmare. The first thing a real estate agent will do is accurately evaluate the value of your home based on a variety of factors, such as its location, the municipal services offered, the proximity of schools and businesses and the quality of the materials used in the home’s construction. He or she will also take into consideration the appearance of your home compared to others in the neighborhood, the overall state of your home, the number of rooms and the value of similar homes that have been recently sold in the area.

Once a real estate agent has determined a value for your home and you have accepted it, he or she will ask you to sign a contract with the real estate agency he or she works for. This

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How To Choose Your Real Estate Agent

contract could be for a period of three months, six months or even longer. The agent will then make sure ads are placed in various specialized publications and work towards finding serious buyers.

When a bid is made on your home, your agent will first make sure that the potential buyer can actually afford your home. Then, he or she will proceed to get you the best possible price. Finally, your agent will ensure that the final contract will protect both you and the buyer.

Buying or selling a property is a transaction that demands a lot of attention; that’s why you want to choose an agent who will help you and give the advice you need to make the right decisions. This is one of the most important events in your life.

Here are several things to think about as you choose your real estate agent.

First, limit your choice to three or four agents so you don’t waste your time in searching. Next, see if his attitude is casual or dynamic. Is he professional? Well prepared? Does he have comparative studies available to explain how your property is situated in the market?

Be wary of agents that don’t want to travel around and who guarantee you a sales price without even visiting your property. For buyers, the agent must explain how and how often he will notify you of new listings that meet your needs.

Another element you must pay special attention to is the advertising done by the agent, since it’s the key to success in the real estate industry. Beware of agents who tell you they don’t need to advertise. Marketing your property is a key element that determines how fast you sell.

It’s very important that you feel confident with the agent that you choose.

He’s the basis of a successful transaction.

Renovating to Make the Most of Your Home Once you’ve moved into your new home, you will probably want to personalize the decor. For small as well as big jobs, finding the right specialist will make all the difference.

Repair and renovation specialists Whether it’s for electrical work or for plumbing, it is always best to use the services of a professional rather than doing the work yourself. A good way of saving money is to have all the same type of work done at the same time. Ask for an estimate first.

For painting jobs, treat yourself to an expert painter. He’ll decorate your walls at

incredible speed, without making a mess.

Payment structures may vary from one painting specialist to another, however the investment is well worth it if you want professional results. To be on the safe side, remember to always work with someone that comes with good references.

Finally, a handyman can turn out to be a rare pearl. But, to avoid catastrophes, always ask for references or employ established businesses. You will gain time and money by employing the right person for the right work.

Decorator, designer or other specialist?

Decorators will freshen up the interior of your home without turning it upside down.

They can match fabrics, paint and wallpaper, choose floor coverings, window dressings and lighting. Interior designers, on the other hand, are decorators-designers-plannerssupervisors. They can redesign an area from top to bottom, transforming a room to give it a new vocation and design tailor-made furniture.

More specialized, the kitchen professional is a designer, draftsman and planner who works solely with kitchens.

Finally, a totally new trend is the storage specialist, a person who can help you to reorganize your storage areas and better manage them.

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NORFOLK DAILY NEWS, TUESDAY, APRIL 22, 2014

Home Improvement Tips Learned the Hard Way ‘Tis the season for home improvement projects, and weekend warriors will soon be visiting home supply retailers to buy everything from paint to plywood. There are many advantages to making home improvements on your own, including the opportunity to test your mettle at projects big and small.

Many a novice DIYer has learned the ups and downs of home improvement through trial and error.

But the following are a handful of lessons first-timers can heed before beginning their maiden voyages into the world of DIY home improvements. * Measure twice, cut once. Perhaps this is the bestknown mantra of home improvement, yet many still ignore it. Whether you’re anxious to get started or simply because you still cannot convert metric to standard formula, you must take the time to measure twice before cutting. Learning that you’re a hair too short later will be prove frustrating and time-consuming and often necessitates a last-minute run to the store for more

materials. Always measure multiple times before making cuts. * Enlist a helper. Having a partner helping with the work is the most efficient way to tackle a project. This person can assist you with heavy lifting or moving things or by holding the ladder or simply passing tools your way. He or she also can manage work while you make another run to the home center for more supplies.

Having a helper around also provides companionship during tedious projects. * Lighten the load. You run the risk of injury, both to yourself and your belongings, if you attempt to move heavy items on your own. When moving heavy items, take steps to lighten your load. For example, empty or remove drawers from desks and dressers before moving them. Rely on sliding pads when moving furniture so items can be slid into place instead of lifted. Always ask a buddy to help move especially heavy items. * Prime before painting. Painting can be a time-consuming task. In an effort to save time, some people will look for

painting shortcuts, and these may include skipping the priming portion of painting. Priming helps to cover existing paint color and prevent bleed-through of stains or darker hues to the next coat of paint. Failure to use a primer could mean having to paint coat after coat, which can become costly and take up a significant amount of time. Always rely on a priming product, or look for a paint that blends a primer within to achieve better coverage.

And while you are ensuring a proper paint job, remember to use painter’s tape or an edging product to help keep paint off of moldings and trim. * Use the right tools. The right tools make work safer and easier. Think about how much faster you can cut through a tree trunk with a chainsaw rather than a handsaw. Improvising or using the wrong tools for the job can cost you time and increase your risk of injury. * Turn electricity off at the panel box.

Be especially cautious when working with electricity, turning off the current.

This means shutting down the power on the breaker box. A live wire can provide a minor shock or lead to serious injury. Take the extra time to ensure the power is off before working with any exposed wiring. * Expect the unexpected. Although many renovation projects go off without a hitch, you never know what you might uncover when you embark on repairs or remodels. Homeowners have come across all sorts of hidden problems when doing seemingly minor repairs. Removal of

drywall may uncover insect damage in beams or indications of water infiltration.

Some people take down old paneling, only to discover it was covering heavily damaged walls beneath. One repair project can run into another when home improvements are being made. Always leave breathing room in your budget and schedule extra time for unforeseen tasks as well.

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