Hottest 2013 Kitchen Trends Spice Up Pearl River MLS Listings

Hottest 2013 Kitchen Trends Spice Up Pearl River MLS Listings

Marcellariggs.com

The importance of kitchens to prospective homebuyers is something that never seems to change. If you are preparing to bring your home onto the market anytime soon, you’ve probably been thinking about how to make your Pearl River MLS listing as attractive as possible. Hottest 2013 Kitchen Trends Spice Up Pearl River MLS Listings. Odds are good that updating your kitchen (with an attractive photo or two) is somewhere near the top of your to-do list. An inviting kitchen rivals curb appeal in creating a superior MLS listing, so if you’re noodling a remodel of your home’s core, you will be interested in these trends for 2013.

About that linoleum from the 1970’s: it’s time to say good-bye.  Kitchen experts agree that hardwood floors remain a hot kitchen remodeling trend…and there are a few fresh twists we can expect to start appearing more frequently in Pearl River MLS listings. Hottest 2013 Kitchen Trends Spice Up Pearl River MLS Listings. Interior designer Cami Weinstein says, "I am starting to see lighter shades of wood floors again - something that hasn't been seen in a while.”  The washed-wood floors are back from the 80’s and 90’s -- but with wider planks and hand scraping that creates a less formal, beachy feel. 

Award-winning designer Kathleen Donohue points to a newer trend: re-facing cabinets rather than replacing them. People are watching their spending, and simply re-facing (the process of simply changing cabinet doors while maintaining the original cabinet structure) is a much less expensive option than total rebuilding. Freeing up remodeling dollars is a definite plus. Hottest 2013 Kitchen Trends Spice Up Pearl River MLS Listings.

Adding to the trend toward thrift-consciousness, expect kitchen features that do double-duty – conserving precious kitchen space in the process. Examples are microwaves that double as second ovens and/or warming drawers, and refrigerators with convertible drawers that can act as fridge, freezer, or wine fridge. Either should be a great selling feature in local MLS listings. Especially if your home has a smaller kitchen, multi-taskers like those are valuable ideas. 

Spring, 2013 is shaping up as a great time to sell.  Hottest 2013 Kitchen Trends Spice Up Pearl River MLS Listings. I offer complimentary and confidential evaluations all the time, so if you’re considering listing your home this year, give me a call…  we can start in the kitchen!  Call me…Marcella 845 544 4026   riggsmarcella@gmail.com...marcellariggs.com

Pearl River Businesses Helped by Housing’s ‘Snowball Effect’

Marcellariggs.com

The Weather Channel has nothing to do with it. What’s happening up in the ski resorts, likewise. The ‘snowball effect’ being discussed in print and on TV won’t soften anytime soon (even if the groundhog was right about winter being over)..

This is an economic snowball -- one that’s gathering momentum following what CNN’s Money website describes as “the best year for U.S. real estate market in five years.” Businesses that stand to benefit from growth in the Pearl River housing market are watching closely.

The Wall Street Journal’s snowball report took form in last Monday’s Marketplace section, where the top headline read “Housing Recovery Opens Spigot…Makers of Products From Carpets to Air Conditioners Feel Effects of Rebound.”

It was even more heartening as a counter to last week’s government indications that the greater economy seemed to slow. The housing sector’s performance was so strong it acted as a tonic to its many associated industries: among them, many Pearl River retailers.

            The snowball effect was noted widely. The company that makes Carrier air conditioners said that orders rose 20%; Honeywell International reported the “first sign of life we have had in a while.”

            Locally, fingers were crossed that Pearl River businesses will be swept up in the snowball. National suppliers expected that to happen. “Housing is what we see leading the economy out of the doldrums,” according to the CFO of United Technologies Corp. The WSJ reported evidence that Americans are spending more to build and refurbish their properties.

            With sales of existing housing registering the largest annual jump since 2004, it should come as no surprise if Credit Suisse’s Daniel Oppenheim proves correct in predicting a 7%-8% rise in home improvement spending. He expects it to keep going for at least the next two years. That’s a pretty solid forecast, and in line with what most observers are saying.

            All in all, the boost from the housing recovery is one snowball no one seems to think is likely to melt soon  -- regardless of what Punxsutawney Phil has to say about it.

Call me…Marcella 845 544 4026 riggsmarcella@gmail.com   marcellariggs.com

New City Property Sellers Make Their Own Luck!

marcellariggs.com

When anyone sets about readying a New City property for sale, some things are certain. By the time that home appears in the New City listings, its owner will have made sure that its overall appearance is neat, clean – generally well maintained.

Drilling down further, two of the areas prospective homebuyers focus most on are the kitchen and bathrooms. That’s why everyone puts the dishes away, sets the fluffy white towels out – perhaps even lights a scented candle or two. After that, most sellers settle down to see what happens…what the ‘luck of the draw’ will bring…

Hold it! Luck?

Not really! The only luck that’s called for is the kind we make for ourselves -- the kind where preparation meets opportunity!

 I take care of the opportunity: a good part of my job is creating it by executing a marketing plan that works! So all that is left is preparation: in this case, going the extra step by attending to some less glamorous (and less obvious) details. One example – a surprisingly impactful one – is a minor detail in those two focal rooms, the kitchen and bathrooms.

While the clean lines of nice tile work in either can increase the value of a home, soiled or broken grout will always work the other way. Even worse, if the grout shows mold or mildew, that detail can decrease the value of a property for sale by as much as ten to fifteen percent! (That daunting figure comes via research from the Microsoft Network’s web site).

The takeaway: if you are planning to list your own New City property for sale this Spring, here are some simple tips for creating some of your own “luck”:

·        When repairing grout in a marble tiled-surface, avoid using sanded grout – it is hard to avoid scratching the marble’s surface.

·        When cleaning grout, do not use brushes with metal bristles: they damage or erode the grout. Experts recommend using a 50/50 solution of vinegar and baking soda to clean the grout with a stiff (not metal) bristled brush.

·        Using a grout sealer when installing tile or replacing grout can help keep it clean and in good condition.

·        If you need to replace grout, bring a sample to the hardware store so you can closely match its color. Precise color is impossible to remember, and a poor match makes repairs stand out.

I always start new clients with an in-home evaluation -- we compare notes on areas that may need attention as we bring the home to market. If you are considering a sale of your own, I hope you will put a call to me at my office right at the top of your to-do list! Marcella 845 544 4026! marcellariggs.com for all your real estate needs!

Buying a New City Home from the Bank?

Marcellariggs.com

Buying Bank-Owned Homes Takes Care, Persistence

           

The difference between a ‘Foreclosure’ and a ‘Bank-Owned Home’ may be technical, but  important to understand.  Foreclosures are properties that are auctioned off in a court process. A bank-owned home, on the other hand, is one that has reverted to the mortgage issuer: a bank.

A foreclosure can change hands with the bang of the auctioneer’s gavel: it’s a cash-in-hand situation, carrying all of the excitement (and risk) of any auction.

With a bank-owned home, the ‘owned’ is attached by hyphen to a banking institution – a spot not exactly known for excitement. True, banks are eager to sell, since a bank-owned home represents an unprofitable financial and management burden. But banks are by definition cautious, thorough, and usually (unlike auctioneers) prone to moving like molasses in December. So, persistence and care will be needed to take advantage of the potential bargain a New City bank-owned home represents. 

Since you will need to prove you are qualified to buy a bank-owned home, being pre-approved for a loan will come in handy.  It will also be important to have a good home inspector at the ready, since most bank-owned properties are sold as-is. You will want detailed information about the condition of the house and likely cost of repairs that need to be made.

And while there are many sources for identifying a suitable bank-owned home online, when it comes to the next step -- putting together a successful offer -- enlisting an experienced New City real estate agent is standard practice.  Sometimes a bank-owned home can be priced under market, sometimes over -- but if you want to write the winning offer, you need to examine and understand the latest numbers.  By looking up the market comps and procuring costs faced by banks, your agent will help you present an offer that is both attractive to the bank and to you. 

This Spring, whether you are looking for an entry-level condo, a bargain fixer-upper, or a luxury REO, as soon as you are ready to start the search, call me -- I will get you a list of New City bank-owned homes now accepting offers. Call me...845 544 4026...marcellariggs.com...riggsmarcella@gmail.com

Rental Price Increases Cheer New City Investors

Rental Increases Motivate Investors, 1st-Time Homebuyers

Rental Price Increases Cheer New City Investors

Rentals Study Paints Good News, Bad News Picture

To the extent that New City rentals reflect wider real estate movement, there is good news and bad news for New City tenants. It all depends on how they view it (and how they chart their personal housing strategy). The bad news was not unexpected: for the third straight year, rents were up across the nation in 2012, according to apartment housing industry expert MPF Research. 

Although rents rose at a slightly slower pace than in 2011, national forecasts are calling for rent increases in 2013 that match last year’s. The research firm said that apartment rents climbed 3.0% in 2012, down from 4.8% in 2011, but again were above the long-term norm of 2.5% registered over the past 20 years.

For tenants currently in New City rentals -- both apartments and single-family homes -- rents may be heading up, but the good news is that this price pressure has not yet resulted in a less friendly home buying environment. “Loss of renters to purchase in the now-improving for-sale housing market is having only a very small impact,” according to MPF’s report. In other words, rentals are not being lost in large number even though rents are rising, so floods of first-time homebuyers are not yet adding significant upward pressure on single-family home pricing.

Even with housing prices on the rebound, first-time homebuyers who decide to leave the world of New City rentals to buy a home now will still benefit from the record low interest rates and distressed property bargains that result in historically affordable home prices.

Another group that would hail rising New City rental rates are investors.  "Most places are starved for new product right now, so properties that will complete over the coming year appear likely to do incredibly well, generally without hurting the results for the existing stock," according to Greg Willett, MPF’s vice president.

Whether you are looking to buy or sell a rental home in New City, conditions warrant a thorough look at the opportunities available now and those opening this spring.  Call me to get started on a plan of action! Marcella 845 544 4026!

Buying a Pearl River Home … With a $0 Down Payment?

Buying a Pearl River Home … With a $0 Down Payment?

Marcellariggs.com

Some of Pearl River’s wealthiest buyers may be getting a mortgage without putting a single dollar down. And we aren’t talking about single-bedroom fixer-uppers, either!

It's called 100% financing, and, at first blush, it looks suspiciously like a version of the strategy that sent the economy reeling in 2008.  But lenders feel that well-heeled Pearl River residents who are getting a mortgage through these programs are totally different.  How so? you may ask.

For openers, these loans are offered only to the super-qualified: those with serious investment portfolios they can use as collateral. That means getting a mortgage with zero cash for the down payment. That can carry an additional tax benefit, since the borrower won't have to pay a capital gains tax on investments liquidated to fund a down payment.

Since current mortgage rates can be as low as 2.5%, since even middling investment accounts often return a higher rate, the difference make this strategy what the Wall Street calls an ‘arbitrage play’.

So what would a homebuyer getting a mortgage in Pearl River need to do to qualify for one of these mind-bending loans?  In addition to the willingness to put up two forms of collateral (the property and a portion of your investment portfolio), the Wall Street Journal offers some relevant details:

• The amount that can be borrowed against any investment account depends on what’s in the portfolio. Usually up to 95% of account cash; up to about 80% for bonds; between 50% and 75% for most stocks. Withdrawing pledged funds is usually restricted.

• To get the lowest rates, clients who already have significant assets at a particular bank should consider applying for 100% financing there.

• Borrowers still need to pass regular underwriting requirements. They’ll need --  high credit scores, a low level of overall debt, and documentation of substantial income or assets.

Of course, getting a mortgage doesn’t require a seven-figure portfolio.  If you are seriously thinking about buying a Pearl River home, call me -- we’ll get started by getting you pre-qualified. Marcella 845 544 4026...riggsmarcella@gmail.com...marcellariggs.com

Pearl River Businesses Helped by Housing’s ‘Snowball Effect’

Pearl River Businesses Helped by Housing’s ‘Snowball Effect’

marcellariggs.com

The Weather Channel has nothing to do with it. What’s happening up in the ski resorts, likewise. The ‘snowball effect’ being discussed in print and on TV won’t soften anytime soon (even if the groundhog was right about winter being over)..

This is an economic snowball -- one that’s gathering momentum following what CNN’s Money website describes as “the best year for U.S. real estate market in five years.” Businesses that stand to benefit from growth in the Pearl River housing market are watching closely.

The Wall Street Journal’s snowball report took form in last Monday’s Marketplace section, where the top headline read “Housing Recovery Opens Spigot…Makers of Products From Carpets to Air Conditioners Feel Effects of Rebound.”

It was even more heartening as a counter to last week’s government indications that the greater economy seemed to slow. The housing sector’s performance was so strong it acted as a tonic to its many associated industries: among them, many Pearl River retailers.

            The snowball effect was noted widely. The company that makes Carrier air conditioners said that orders rose 20%; Honeywell International reported the “first sign of life we have had in a while.”

            Locally, fingers were crossed that Pearl River businesses will be swept up in the snowball. National suppliers expected that to happen. “Housing is what we see leading the economy out of the doldrums,” according to the CFO of United Technologies Corp. The WSJ reported evidence that Americans are spending more to build and refurbish their properties.

            With sales of existing housing registering the largest annual jump since 2004, it should come as no surprise if Credit Suisse’s Daniel Oppenheim proves correct in predicting a 7%-8% rise in home improvement spending. He expects it to keep going for at least the next two years. That’s a pretty solid forecast, and in line with what most observers are saying.

            All in all, the boost from the housing recovery is one snowball no one seems to think is likely to melt soon  -- regardless of what Punxsutawney Phil has to say about it.

Call me…Marcella 845 544 4026...riggsmarcella@gmail.com...marcellariggs.com