Everything Home - August 2019

EVERYTHING

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Real Estate & Home Services Guide

Agent etiquette: 3 rules for homebuyers Page 14 13

Green: the hottest design color of 2019 Page 16 15

VOLUME 2 | ISSUE 8 | AUGUST 2019

Short sale versus foreclosure Page 18

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Real Estate & Home Services Guide A Publication of The Daily Star

102 Chestnut St., Oneonta, NY 13820 607-432-1000 • www.thedailystar.com PUBLISHER Fred Scheller fscheller@thedailystar.com (607) 441-7214

ADVERTISING DIRECTOR Valerie Secor vsecor@thedailystar.com (607) 441-7235

GRAPHIC DESIGNER Tracy Bender

3 What are junk fees?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Home inspections 101.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 What to ask before renting a summer property. . . . . . . . . . . . . . . . . 6 3 tips for winning a bidding war. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Keep these 6 documents after purchasing your home. . . . . . . . . . . 9 How to organize your bookshelves.. . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Outdoor renovations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Are Crittall-style windows and doors right for your home?. . . . . .

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Agent etiquette: 3 rules for homebuyers. . . . . . . . . . . . . . . . . . . . . . 14

16 Short sale versus foreclosure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Scandicraft: the new Nordic design trend. . . . . . . . . . . . . . . . . . . . . 19 Green: the hottest design color of 2019. . . . . . . . . . . . . . . . . . . . . . .

How to organize your bookshelves

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f you’re an avid reader, you might have more books than you know what to do with. Here are a few ways you can organize your bookshelves.

• Alphabetically. In bookstores and libraries, books are organized alphabetically by author. You can use this system at home or instead alphabetize your volumes by title.

Choose whichever method makes it easiest for you to find the book you’re looking for.

• By genre. Another common way to organize books is by category.

Some genres you’re probably familiar with are fiction, biography, history,

poetry and travel. But don’t be shy to use more atypical classifications such as urban fantasy, true crime or French cooking.

• By cover. If you want bookshelves that are visually striking, try grouping all your books by color.

Similarly, you can wrap all your books in one type of paper, or place the spines towards the back so that the pages are facing you.

Style your shelves In addition to classifying your books, use these ideas to make your bookshelves a key part of your decor.

• Place items like photographs, houseplants and knick-knacks

around your books to show off your personal style.

• Paint the insides of your bookshelves an interesting color or cover them with wallpaper. Combining this with books organized by their covers would really make a statement.

• Stack a few books on their side.

This adds visual interest and the stacks can function as bookends for the other volumes.

There’s no one right way to organize your bookshelves, as long as you like the effect. Just don’t forget to leave some space for new volumes.

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What are junk fees?

Junk fees are extra charges a mortgage lender tacks on when you close on a home. Paying some closing costs when finalizing a mortgage is expected. However, certain charges are unnecessary or excessive.

Junk fees may be labeled as an application fee, a mortgage rate lock fee, a processing fee, a courier fee, an administrative fee, a documentation fee or something else entirely. While such fees may repre-

sent actual work that was done, they tend to be basic services that the lender is expected to provide.

If you think you’re being charged junk fees, press your lender for details. If you find that the fees are in fact unjustified, you could ask the lender to waive them or simply state that you’re unwilling to pay.

When pressured, the lender is likely to reduce or eliminate these charges.

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Home inspections 101 T

he process of buying a home can be unlike any experience prospective buyers have ever had. After finding a home they like and coming to an agreement on a sale price with the seller, buyers can expect to add many items to their to-do list. One of the first things to jot down on that list is scheduling a home inspection.

Home inspections are a vital part of the home buying process. Such inspections can protect buyers as they’re on the cusp of making what will likely be the most significant investment of their lives. Understanding the home inspection process can help buyers during an exciting yet potentially nerve-wracking time in their lives.

What is a home inspection?

The American Society of Home Inspectors defines a home inspection as an objective visual examination of the physical structure and systems of a house. Inspectors will conduct visual examinations from the roof to the foundation of the home. Additional structures on the property, such as sheds or detached outdoor living areas, are not typically included in the examination.

What do inspectors examine?

The ASHI notes that inspectors will examine the condition of various parts of the home. The heating system, central air conditioning unit, interior plumbing and electrical systems, roof (though inspectors will not climb onto

the roof), attic and insulation will be examined. Inspectors also will examine walls, ceilings, floors, windows, doors, the foundation of the home, basement (or crawl space), and structural components.

Can a home fail inspection?

Homes cannot fail home inspections, which are just assessments of a home’s existing condition. Municipal inspections are separate inspections conducted by government agencies to verify that a property is in compliance with local codes. Home inspectors will provide detailed reports describing the condition of a home and indicate if any repairs are in order.

Do I really need a home inspection?

A home inspection is a vital component that can help buyers make the most informed decision possible. Forgoing an inspection can leave buyers vulnerable to potentially costly repairs and issues with a home that might have been detected with a proper home inspection. In addition, some lenders insist that buyers have home inspections conducted before they will allow them to borrow money.

Home inspections can protect home buyers as they prepare to make the most significant financial investment of their lives. More information about inspections can be found at www.homeinspector.org.

Understanding the home inspection process can help buyers during an exciting yet potentially nerve-wracking time in their lives.

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A

home away from home can be the ideal retreat for couples, singletons and families. Quite often individuals reserve the same properties year after year to serve as a vacation retreat. The familiarity and comfort of a rental can be the ideal place to spend a few days or weeks during a vacation.

Data from HomeAway®, a vacation rental booking service, says that many people book summer rentals as early as January to ensure they have the perfect place to stay during the peak season. However, for vacations taken in July and beyond, locking down one’s stay between May and July are possible. Ski season stays as well as holiday retreats are best booked by October, advises the company.

When it comes time to research and book a rental, it is important to note that listings likely won’t paint the full picture.

It is important to ask the right questions and conduct a thorough vetting of properties before booking a rental.

• Get the facts of the contract and exactly what the rental entails. Are use of WiFi or cable television available? Are you responsible for taking out the trash and recycling? What is the cancellation policy? Are there any fees incurred for minor damage to the home? The contract should be as thorough as possible so there are no surprises later on.

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What to ask before renting a summer property

• Explore pet-friendly accommodations. Many people choose to travel with pets, which can make it less stressful than leaving companion animals behind. What may constitute “pet-friendly” to one landlord may not be the same to another. One house may have a fenced yard and a dog house. Another may actually let the pet have free reign of the house without having to be crated. It helps to know the difference in advance. The vacation rental site VRBO says there is no standard for making a home accommodating to pets.

• Learn about parking. The Evolve Vacation Rental Network says to ask the specifics of the parking situation, including whether there is a driveway or on-street parking. If there is on-street parking, find out if the vehicle needs to be moved for street cleaning or specific zoning.

• Learn the lingo. For those booking international rentals, certain nuances of the listing lingo may be different than you’re used to. Inquire specifically about the number of rooms and bedrooms so you are properly prepared.

• Find out if the kitchen is equipped. Some kitchens come with a ladle and saucepan only, while others may be fully outfitted for gourmet meals. It helps to have an idea so that shopping lists can be made if meals will be prepared at the rental.

Careful vetting and a little leg work can help vacationers find the ideal vacation property.

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3 tips for winning a bidding war

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o you have your sights set on a particular home but aren’t the only one? If so, you may find yourself in a bidding war. Here are three tips for coming out on top.

1. Write a personal letter.

Consider including a cover letter when you submit an offer. In it you can talk about why you’re attached to the home, what makes you a good buyer and why the seller should choose you.

This may tilt the odds in your favor, especially in circumstances where the home has sentimental value to the seller. It’s likely that they want to sell it to someone

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who’ll take good care of it.

2. Keep your offer clean. The highest offer doesn’t always win out in a multi-bid scenario. Sellers will often settle for a lower offer if it’s the “cleanest.” A clean offer is one that has preapproved financing and isn’t a conditional sale.

In the same vein, don’t be stingy with your deposit. A substantial payment shows that you mean business. Note that this money goes toward the down payment if you get the home and that you’ll be reimbursed if you don’t get it.

3. Be flexible about conditions. Making life easier for the seller will give you the advantage

in a bidding war. Specifically, you may want to relax some of the conditions you’ve set.

For instance, you could consider dropping conditions such as cleaning up the yard, retiling a room or leaving certain appliances behind.

However, don’t waive conditions that protect you as a buyer, such as your home inspection contingency.

Finally, turn to your real estate agent for additional tips and strategies. You can bet that they’re battle-hardened when it comes to bidding wars. Good luck!

Keep these 6 documents after purchasing your home Buying a home involves a lot of paperwork, and some of it needs to be safely stored. Here are six documents to keep after closing on the purchase of your home.

1. Buyer’s agent agreement. This document outlines the terms of your relationship with your agent. While these agreements aren’t mandatory, hold on to yours if you signed one. It may help if an issue arises.

2. Purchase agreement. This document outlines the terms and conditions the buyer and seller agree to. Keep it in case the seller fails to fulfill their obligations.

BUYER’S AGENT AGREEMENT PURCHASE AGREEMENT SELLER DISCLOSURE STATEMENTS HOME INSPECTION REPORT CLOSING DISCLOSURE PROPERTY DEED

3. Seller disclosure statements.

Mandatory everywhere except in New Mexico, these documents reveal problems that could impact the value of the property being sold. They’ll be crucial if you need to file a lawsuit against the seller. Keep in mind that what legally needs to be disclosed will vary depending on where your new home is located.

4. Home inspection report. This document provides detailed notes about the condition of the home. Keep it so that you know what repairs you’ll need to make down the road.

5. Closing disclosure. This document outlines the estimated costs for your mortgage. In addition to being important for future reference, it’s needed for tax purposes.

6. Property deed. This document is signed by you and the seller and transfers the property title over to you. It’s essential to have on hand as it proves you’re the legal homeowner.

Be sure to keep these listed documents and all paperwork pertaining to your homeowner’s insurance. Though documents can be stored digitally, it’s a good idea to also keep paper versions in a fireproof safe or in a safety deposit box at a bank.

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Outdoor renovations Go ahead, build a better backyard!

Beautiful rose gated rose garden

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Swimming pool of luxury home with deck chairs

Studio or storage:

tips for building a shed in your backyard

Seating in the garden on the balcony, is a recreation place

Need a place to store your gardening supplies? Or perhaps you’d like to create a studio or office that’s separate from the rest of your home? In either case, building a shed in your backyard could be the solution. Here’s what you should do before you begin.

Evaluate your needs If you intend to use your shed for storage, start by figuring out how big it should be. Place all the items you want to store in it on the ground and then measure the amount of space they take up.

Be sure to add a few extra feet to give yourself room to move.

SEE SHED ON PAGE 12

Small summertime townhouse garden, with blooming perennial lavender and begonia flowers EVERYTHING HOME

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SHED ~ CONTINUED FROM PAGE 11

Will you need to store large items like a riding lawn mower or snowblower? Then choose a design with double doors. Also, be sure to include a strong floor and to install shelves and racks to help keep the space tidy.

If you’re planning to use your shed as a home office, studio or playhouse, there are other considerations to take into account.

You’ll probably want windows to let in natural light and you’ll need insulation to seal the space off from the elements. An electrician will be required to safely connect your shed to a power supply.

Decide where you’ll put it

How you intend to use your shed should dictate where you place it. If you’ll use it to store gardening supplies, place it at the back of your yard close to your garden.

How you intend to use your shed should dictate where you place it.

If you’ll use it to store gardening supplies, place it at the back of your yard close to your garden. But if you intend to use it every day, make sure the entrance is easy to access in all seasons.

In all cases, make sure you position your shed on flat ground and in an area that won’t flood.

Get the necessary permits Before you start building your shed, check your municipal bylaws.

You may need a permit to build one on your property. Additionally, there may be stipulations regarding where you can place it.

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Are Crittall-style windows and doors right for your home?

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rittall-style windows and doors are undeniably popular right now. The thin steel frames and unobstructed views they offer are both modern and timeless. Dating back to the 1880s, you can find this style on many edifices, from homes to factories and even on the British Parliament buildings.

Minimalist but striking, steel-frame windows and doors can look either historical or contemporary, depending on the type of building they adorn. If you’re thinking about making a change, they’re a great choice for most types of homes.

In addition to their more traditional uses, these kinds of windows and doors are increasingly being used in interior design. They allow light to easily pass from one room to another and in an open concept home, they can be used to mark off key areas. They’re also a great option for entranceways.

Crittall-style windows and doorframes are historically black, but today’s technology allows the metal to have almost any color, thereby allowing them to seamlessly fit into your home.

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Agent etiquette: HOM E R B O F U S E Y L ERS U R 3

A harmonious relationship between agent and buyer requires both parties to be considerate.

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our real estate agent is a key collaborator in finding a home.

However, a good collaboration presupposes a good relationship. This is why maintaining correct etiquette in your dealings with your agent is essential. Here are three rules to stick to.

2. Be selective with your visits It’s normal to visit about 10 homes before choosing one. On average, this process takes two to three months.

If you end up looking at upwards of 15 or 20 homes, you’ll probably wear on your agent’s patience. To avoid this scenario, only visit a home after you’ve done ample research about it and are sure you’re interested.

1. Be upfront with your agent Be honest with your agent about what you’re looking for and what you can afford to pay. While it may be tempting to visit the more luxurious homes on offer, only do so if they’re within your price range and you’re truly interested. While such visits may be enjoyable for you, they represent time wasted for your agent.

3. Be on time for showings Preparing a showing requires a good deal of planning on the part of both the seller and your agent. Always be on time, and if you’re going to be late or need to reschedule, let your agent know as soon as possible.

While maintaining proper etiquette with your agent is worth­while, it’s equally important to choose a real estate professional who’s courteous, respectful and honest. A harmonious relationship between agent and buyer requires both parties to be considerate.

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Green:

the hottest design color of 2019

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oth classic and unexpected, green has quickly become the color du jour. From jewel-bright emerald to calming sage, there’s a green for every room and style.

Forest green walls set a solemn tone in an office or reading nook. If a full coat of paint is too much of a commitment, you can integrate this dark color in subtler ways. Opt for it on a lamp, area rug or curtains.

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Sage green is relaxing and calm, and would be ideal for a nursery or child’s bedroom.

Kelly green is vibrant and exciting. Consider painting your chairs and table this hue to add a touch of whimsy to your dining room.

Emerald green will brighten up a small bathroom or add interest to a utilitarian space like a laundry room.

In a kitchen, glossy green cabinets are a refreshing

change from white. In a living room or den, a mid-century style sofa in this jewel-tone would be a great focal point.

Green is very versatile and can work in almost any room. To keep the look fresh and modern, pair it with cool neutrals, and avoid combining it with warm colors like yellow or burgundy.

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Short sale versus foreclosure

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hopping for real estate may require prospective buyers to learn a whole new language. Buyers may come across certain terms they don’t understand.

Among the more common terms that first-time buyers may not fully understand are “short sale” and “foreclosure.”

According to R e a l t o r. c o m , short sales and foreclosure auctions are situations that occur when homeowners fall behind on payments and can no longer afford to live in a home.

A short sale happens when a homeowner owes more on the mortgage balance than the market value of the property when the owner needs to sell. The homeowner can ask the mortgage lender to accept a lesser amount than the total mortgage owed – making the homeowner/seller “short” on paying the lender back.

A foreclosure is a legal process that occurs when a borrower cannot make mortgage loan payments for a significant period of time. If the debt is not recouped, lenders will step in and take ownership of the property, putting it up for sale in a foreclosure auction.

While these situations can be troublesome for the homeowner facing financial peril, distressed properties can be advantageous for buyers who oftentimes can buy homes at steep discounts. However, short sales and foreclosures are not without challenges.

The real estate experts at Zillow say that foreclosures and short sales involve more layers than traditional trans-

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actions. Zillow offers that bank lenders historically can be slow at giving approval for mortgages to purchase short sale properties or even agreeing on an amount for the sale. As a result, buyers may miss out on other opportunities while waiting for short sales to move along.

Foreclosures carry their own hurdles. Buyers may not get a chance to even see a foreclosure property, nor be eligible to have it inspected, as foreclosed homes are typically sold “as-is” and at auction. The real estate agency Re/Max says buying a foreclosure typically is faster than buying a short sale, and an investor can buy a foreclosed home for below market value. But foreclosures cannot be contingent on the sale of another home, so a buyer must have funds in place and be ready to move quickly.

Short sales are often initiated by homeowners looking to avoid foreclosure. As a result, short sale properties may be in decent condition. This may not be the case with a foreclosure. The American Society of Home Inspectors says foreclosed homes may have been neglected by having utilities turned off and no maintenance done on the home. Other homes may have been purposefully vandalized by the former owner or by squatters.

Short sales and foreclosure properties are options for buyers who want to get the best price possible on a home and are willing to take some risks in their pursuits.

Scandicraft:

the new Nordic design trend

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o you appreciate the clean lines of Scandinavian furniture but also love unique, handcrafted decor? Combine the two esthetics with scandicraft style. This new design trend has all the minimalism of typical Nordic design but leaves room for the unique pieces you’re drawn to.

A scandicraft home is welcoming and makes judicious use of artisanal pieces that are both beautiful and functional. Furniture frequently plays double duty by offering storage space.

Accessories like throw pillows and throws are soft and comforting.

Less monochromatic than other Nordic styles, scandicraft wel-

comes the use of pastels and jewel tones to create a space that you’ll love to come home to. Scandicraft combines clean lines with eccentric, handmade pieces. Show off

your personality with a mobile made from salvaged wood or go bohemian with a rattan headboard.

Natural light is very important in Scandinavian design, and this school of decorating is no different. Big windows with little covering are a priority.

Scandicraft also embraces nature, so choose pieces made from natural materials like wood, leather and wool. Hanging plants will complete the look.

What’s old is new again with scandicraft, so combine your flea market treasures with clean and functional Nordic furniture to create a home that’s truly unique.

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