Archive for the 'Home Maintenance' Category
Spring Landscaping Boom
The crushing weight of this winter’s heavy snowfall is taking a heavy toll on area landscaping. After initially focusing on the potential damage to our own shrubs, I’ve begun to notice that others are experiencing similar problems. The subject even came up (unprovoked) at a recent dinner party we attended.
Here at Casa Bergqui, the primary issue is snow and ice cascading off the roof and onto the shrubbery along the front of the house. We have attempted to shovel out the plants to relieve some of the weight, but in retrospect that may have just set them up for another direct hit in the next blizzard. When the shrubs were brand new, we had deployed wooden A-frames over the top of the young plants to protect them from the dangers above. Two seasons of below average snowfall, and my concern about their lack of winter sun, gave me the confidence to skip that step last winter. It worked out well last year … not so much this year.
Other homes in the neighborhood have mature hedges at the front of their properties. Some species seem to be fighting off the snow quite well, while others appear to be struggling. Hopefully the damage looks worse than it really is because they will be very difficult to repair. I imagine it would take years to regrow a particular section to match the rest of the hedge.
This spring looks to be shaping up to be a very profitable time to be in the landscaping business. The damage caused by the snow and ice this winter will create lots of demand for new plants and services. And with the economy no longer completely in the toilet perhaps homeowners will be more inclined to spend on these sorts of non-essential items.
I wonder if it’s possible to corner the market on boxwood in order to profit on the coming landscaping boom?
My Saturday Showing Debacle
This past Saturday I had two showing appointments with two different clients, one in the morning and one in the afternoon. The morning appointment went fine. The afternoon appointment was a doozy.
I had called the listing agent for the house the previous day because it was a fairly expensive short sale and I wondered how involved the bank was and if it would be a quick turnaround if my client was interested and put in an offer. I’ve had other clients wait months and months to hear nothing back from the bank, so it’s nice to at least have some idea going into it. The listing agent assured me that the bank was on board and it would be a quick turnaround. They also warned me that the house was vacant and that it probably hadn’t been plowed, so be prepared to deal with snow. Oh fun. I told my clients to wear their boots and I would do the same.
I arrived at the house about 15 minutes before my clients were supposed to meet me so I would have adequate time to open up the house and deal with the snow. When I got there I realized that there had been no snow removal the entire winter. Awesome. The house was also set up on a hill, so I would need to trudge up the driveway about 150 feet to get to the house and the front door. Which of course had about a 6 foot snow drift because of the roof above dropping snow on it. Awesomer.
So I started trudging up the driveway. That’s a picture of me, above, taken by my cell phone camera. At first the snow came up to my knees. Then I kept sinking in further and it was up to my mid thigh. This house is located in a fairly remote area so they have gotten tons of snow. It’s also near a hiking trail and there were some folks out with snowshoes and their dogs, marveling at me as I schlepped my way through the snow to the front door. Talk about a dedicated real estate agent. Or a crazy real estate agent. You pick.
I finally made it to the front door and was happy to see the electronic lockbox where it was supposed to be, and working. But then I looked in the sidelight window next to the door and saw water on the hardwood floors. Uh oh. I opened the door and there was a running water sound. Not a running water sound like a faucet is running. A running water sound like something is gushing water. “Uh oh” quickly turned to some expletives. I walked in to see water all over the hardwood floors in the kitchen/dining room/family room area. The ceiling above the dining area was soaked and water was pouring from that area. Awesomest.
You guessed it, a pipe burst. I quickly turned around to try and find the source of the water which was apparently coming from upstairs. I went upstairs and saw that a bathroom in one of the bedrooms appeared to have blown something in a shower stall. I didn’t investigate too closely because by that point I was skeptical about the integrity of the floor based on all of the water that was downstairs.
Now I’m on the phone with the listing agent’s office telling them that they’ve got a big problem on their hands. They took the information and said they would start making calls. The listing agent didn’t have a cell phone number that is given out, so I called the only number listed for them and left an urgent message. I then also called a team member they have and left a message for them.
I wondered if I could potentially find the water shutoff in the basement to try and stop things. I trudged down to the basement to find water all over the floor and leaking through the ceiling there too. I thought the electricity was off, but wasn’t sure and then thought to myself “Really? This is a vacant house where they don’t have the heat turned on. There are no lights for me to see anything. How much more should I be doing here? And what if I do find the water and something else happens as a result causing more damage?”
I went upstairs again and called the listing office for a second time. They hadn’t been able to reach the listing agent either, but said they left an urgent message for them too. I said I was going to go and that whoever was coming needed to prepare to walk through thigh-high snow drifts. They thanked me for calling and said that I had done what I could, so I should just go.
I then called my clients and told them not to come to the house. It wasn’t safe and they weren’t going to want to buy it at this point anyway.
Talk about a disaster. What was once a very nice house now has significant damage and I have my doubts whether the owner’s insurance company will cover any of the damage costs. The house was vacant and the heat was off. The lack of snow removal will show that the house was not inhabited. Sometimes I wonder what people are thinking.
This was by far my worst (non)showing to date.
Preparing for the Spring
Winter is an excellent opportunity to begin thinking about the spring real estate market. Although there is a lot going on, taking a little time here and there to create a plan, and set some portions in motion, could make a big difference when you’re energized early in the new year.
We sat down in front of the warm fire last night and came up with four ideas for getting ready for the spring. These suggestions are definitely important if you’re considering a home sale, but may also be valuable to those who are looking forward to enjoying their home for years to come.
Start Decluttering
Advice to declutter a home before putting it on the market is so pervasive that it’s become cliché. At the same time, buyers consistently respond better to homes that are sparsely decorated than to those that are densely decorated. They need to see just enough furniture to show them how to use a space, and just enough decorations to make it feel complete. So take a few minutes to pare back, especially in the first few rooms buyers will see.
A home sale is an excellent excuse to declutter, but just about everyone can thin out their collections and displays. Homeowners seem to have a natural tendency to collect things over time, and are often hesitant to part with their possessions. From our own experience, cleaning out our home office to the bare essentials has made it feel much larger, and more inviting.
Take an extra moment to consider the next location for your stuff as you go through things. Most people pack it all into a box destined for either the attic or basement, but that’s just a stopgap. Eventually you’ll have to go through it all again as you clean out your storage areas. We’re not suggesting you part with family heirlooms and items of personal significance, but not everything needs to be saved. Common alternatives to storage are setting items aside for a tag sale, donating them to a charitable organization, or just throwing them away. Freecycle and CraigsList are also great resources.
Take on that Smaller Inside Project
Since it’s cold outside, winter is a great time to take on an inside project. Think about your home from a buyer’s perspective … is there anything that stands out as needing an update? This is another opportunity to improve a buyer’s perception of your property without too much of an expense.
Focus on first impressions and on highly personalized design choices when making a list of potential projects. Wallpaper and paint are the easiest to do, and can usually be done in a weekend. More ambitious homeowners might consider projects in bathrooms, the kitchen, or even the basement.
Each January we find ourselves energized by all the possibilities and good intentions associated with the beginning of a new year. Painting and redecorating a room is a great outlet for some of that energy since it allows us to feel productive and improve the look of our home.
Lay Groundwork for Major Projects
At this point in the real estate market it’s difficult to recommend that owners undertake major renovations before putting their home up for sale. Move-in ready homes are definitely in higher demand than those that need a little work, but the headache and cost involved in a major project is often not recovered in the sales price.
That being said, we can certainly imagine situations in which a targeted professional renovation would more than pay for itself and help a home sell more quickly. One example would be updating an original bath in a home that is otherwise move-in ready.
Contractors are less busy during the winter. They are more likely to have time to come out and give a quote for your job. The earlier you sign someone up for a project, the sooner you can get on their schedule. And they may even be willing to cut you a bit of break on the price if you help them keep their crew working through the winter.
In their most recent survey of home improvements, Remodel magazine found that most projects in the metro Hartford area return far less than their cost, typically between 50% and 80%. One of the most cost effective improvements that had a budget of at least $20,000 was what they call a “Midrange Minor Kitchen Repair,” with a 79% cost recovery. Basically this is a refresh of an existing kitchen with new appliances, cabinet doors, countertops, and sink.
Another category of improvements that homeowners begin to notice at this time of year is energy efficiency. New windows, insulation, and furnaces are valuable additions to any home even though they are not as flashy as a new kitchen or a perfectly decorated space. We highlight energy saving features when showing properties, and have noticed more buyers asking about them recently.
Talk to a Mortgage Professional
Finally, if you are considering a sale in the spring, then this may be the ideal time to reach out to a mortgage professional — especially if you are planning to also buy a home in the area. The first issue you should talk through is your credit score and ability to qualify for a loan. If you’re in poor financial shape you want to know that as soon as possible so that you can begin to fix any credit problems.
Another important topic is whether you need to sell your current home before you can qualify for a mortgage for a property at the price point you’re targeting. (And while we’re here, are you targeting the correct price point for your income and assets?) Coordinating a sale with a purchase is obviously more complicated than treating the two transactions separately, but people do it all the time. You just have to make sure you understand the various steps at the beginning and keep the larger picture in mind.
Stay warm this winter! And remember that we’re happy to help with any questions you may have.
Time to Turn off the Water Outside
We’ve had some frost. And we’ve had a dusting of snow. Although it’s not bone-chilling cold, most of us won’t be using the outside water spigots again until spring. Here at the Bergquist house that means it’s time to shut off the water.
Water spigots are at risk of freeze damage over the winter because water sits in the pipes outside the main walls of the house. Even though the house itself probably does protect the pipes a little, it’s still possible for the pipes to freeze. We don’t see any reason to take that risk since it’s very easy to avoid it.
Let’s take a quick break and I’ll go shut it down right now.
Okay, I’m back. See – it didn’t take very long at all. Just two quick steps:
1. Trace the pipe back from where it goes out to the spigot until you hit the valve. Turn off the valve.
2. Go outside and turn the water on to release the pressure and drain a little bit out; it should stop quickly. If water comes gushing out without slowing down, then you may want to reconsider step one.
Frozen pipes are bad news because water can make a really big mess of a house. Connecticut isn’t the coldest place in the country, but it can go below freezing for extended periods of time. Outdoor spigots are most at risk, and easy to address. Take a moment to winterize them before you forget.
Courant Companion: That Empty Feeling
The cover story of today’s real estate section features an article titled That Empty Feeling about the impact of vacant homes on a neighborhood. The wide-ranging piece provides a lot of interesting and important information about homes that are considered eyesores.
A critical point in the overall thesis, and therefore a focal point of the article, is the example of a dilapidated property that actually hurts the value of neighboring homes. Unfortunately, a very poor example was selected. As agents familiar with the property and the neighborhood in question, we feel the example actually works against the overall angle of the story.
The author quoted a real estate agent about a bank owned home in Hartford’s West End. The agent asserts that the home “significantly and negatively impacts a West End homeowner’s ability to sell.” As evidence, the agent “points to 13 properties in the West End neighborhood listed above $300,000 that have been removed from the market or have had contracts expire since January 2009.”
We have a number of concerns about three short paragraphs in an otherwise well-done article.
We don’t believe that the highlighted property’s exterior appearance rises to the level of “eyesore.” Although the assertion that the “landscaping has not been maintained” is factually correct, the lot is very different than the yards with long grass discussed elsewhere in the article. This property is set quite close to the street for a larger home and has far more plantings than grassy areas in the front yard. Most of the landscaping is hidden behind a brick wall, meaning that it is not visible from the street. Is there neglect? Sure, but the home isn’t sitting in what looks like a hay field. And as a brick building with a slate roof, the neglect has had relatively little impact on the overall exterior appearance.
We don’t believe that the highlighted property has scared off buyers. The house in question is on a short street that constitutes its own little neighborhood with only 18 homes. Three of the homes sold this year, so clearly those buyers were not deterred. One could argue that the bank-owned home pushed the price down on the other homes on the street. However, our experience as active agents in the neighborhood is that prices have fallen equally for all homes in that price range, even those without nearby distress. After little activity in 2009, there has been a much more interest in high-end homes in the West End during 2010.
The assertion that 13 homes priced above $300,000 have come off the market without selling is inaccurate and misleading. The inaccurate portion of the statement is that the correct number is 13. In fact, there have been more than 13 single-family homes priced above $300,000 that have not sold. The number increases when multi-family properties and condominiums are also considered. The misleading portion of the statement is the implications that these failed sales are related to vacant homes. Some of the sellers received offers that they chose not to accept. Others changed their minds about moving because of their personal or professional situations. Still others were simply unrealistic about the value of their home. We cannot think of a single West End property that was unsellable due to a poorly maintained neighboring property. Yet we can think of multiple examples of homes that sold despite the neighboring home needing significant maintenance.
It’s unfortunate that the author did not confirm these West End facts with an agent active in the neighborhood. Especially since there are plenty of agents with West End experience that would be happy to contribute to an article. The last time we counted, there were 18 real estate agents that lived in the (small) neighborhood, many of whom are very successful and are regularly quoted in the Courant. There are also plenty of agents who do multiple deals a year in the West End though they live in other areas.
We felt the need to speak out because the article makes the West End the face of neglected properties. Although it’s true that home values have fallen in the West End, and properties have come off the market without selling, these things have been happening elsewhere in Greater Hartford too. Since real estate values fall for a variety of reasons, suggesting that one bank-owned home is causing buyers to avoid the entire neighborhood (the 13 listings removed from the market) is overly simplistic. It may tie the story together, but it’s just not true.
Similarly, one poorly researched section does not negate all the value of this interesting article. We would definitely recommend reading it – just take the portion about the West End property with a grain of salt.