Kitchen Redecorating on a Budget

Although many claim that they're willing to undertake minimal cosmetic fixes, the typical homebuyer wants a home that is move-in ready. Two rooms in particular are important to them: the bathroom and the kitchen. Outdated, worn and unattractive kitchens and bathrooms drag down the value of the home and may make it harder to sell.

Pressing the buyer's kitchen "hot button" may not necessarily require a complete remodel of the room, but merely a freshening up. Even the smallest of budgets can provide some attractive updates to everyone's favorite room.

Paint Dramatically Transforms the Kitchen

When redecorating any room, fresh paint on the walls is the best place to start. Paint adds an instant transformation, and, depending on the color, can make a room appear larger. It also provides you with a base color on which to build the rest of the kitchen's color scheme.

Most real estate staging experts caution homeowners to use neutral paint colors to provide a broader appeal. One designer, however, claims that green is the new neutral color on which to build your color palette.

Benjamin Moore, on the other hand, claims that Lemon Sorbet is the trendy color of the year. If you're confused, play it safe and use Sherwin-Williams "color visualizer," which allows you to actually picture the paint color before you slap it on the walls.

Update Your Kitchen Cabinet Hardware

If you're lucky enough to have attractive kitchen cabinets that don't require painting or refinishing, replacing the hardware may be all that's needed to give them an updated look.

Home improvement stores offer the kitchen-decorator a mind-boggling array of hardware for your kitchen cabinets. From stainless steel to hand-forged pewter, there's a handle or knob to match any kitchen decor.

Accessorize to Add the Final Touch

Kitchen accessories include not only the decorative, but the functional as well.

Let's start with the decorative: New throw rugs, window coverings and linens that compliment your new wall color will tie the room into a cohesive whole.

Artwork isn't something a lot of people think about when decorating the kitchen. Be on the lookout for interesting pieces, such as plates, tapestries and sconces.

Lighting is not only necessary but can add a distinctive decorative touch. When creating House Beautiful's Kitchen of the Year, designer Robert Stillin used table lamps on the kitchen counters to soften the "laboratory" feel of the kitchen.

Under-counter lights add a soft glow, while sleek track lighting is a must for an industrial-style kitchen.

Add a new kitchen faucet that coordinates and compliments the new décor. Try to match the finish to the new cabinetry hardware to pull the room together. Again, your local home improvement store offers an array of faucets.

Stuck for ideas? Model homes are staged to sell, so if there's a new home community nearby, take a tour of the models and bring your camera to photograph kitchen ideas that you'd like to replicate.

Eyes from a Realtor

"Kitchens are extremely important in today's market. If there's potential you might sell your home after you redecorate, say within a year or two, you might want to weigh the costs of the project with the current market value." Brian Pingleton, a Tulsa Realtor with Keller Williams, can offer many options when it comes to a homeowner who wants to redecorate but also consider return of their investment. He has some helpful insights when it comes to helping owners get the most out of their home value. "Trends are also something to consider, and it might mean the difference of having your home on the market for 30 days, or, 3 months and longer.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

The Real Estate Transaction: What Could Possibly Go Wrong?

"Anything that can go wrong will go wrong." While Edward Murphy was referring to the use of new measurement devices, his rule can be aptly applied to the real estate transaction without a hiccup. 

From the very first step – getting preapproved for a mortgage – to choosing a real estate agent to the close of escrow, the process is full of pitfalls.

If you're considering the purchase or sale of a home, it's a good idea to know what could go wrong during the process. While some problems are hard to anticipate, others happen with enough frequency that they offer lessons, allowing you to become informed and, hopefully, help you to avoid some of the biggest problems.

Choosing a Real Estate Agent

Your real estate agent is the driver of the transaction. As such, he or she will steer the transaction around common roadblocks and avoid certain pitfalls. That is, if you choose the right agent.

What happens if you don't? Several things:

• Your house may not be priced properly.
• Your house may sit on the market longer than it should.
• If you're buying, you may end up paying more than you should.
• A complicated transaction, such as a short sale, may have details that are allowed to fall through the cracks.

Avoid these potential problems by hiring an experienced real estate agent. When selling your home, your first concern is getting the most money for the home. An agent familiar with the area is much better able to determine market value than one from outside the area.

An agent with proven marketing capabilities will get your house in front of more buyers than an agent who hasn't a clue about marketing. If you own a specialized home, such as a luxury home or beachfront property, or you are performing a short sale, you need an agent experienced in these types of sales.

When purchasing a home, you need a savvy negotiator in your corner - an agent who can go to bat for you and get you the best possible price on the home.

Counteroffers

The offer to purchase is a document full of potential pitfalls. Some of these include:

• Price.
• Insufficient earnest money.
• Inappropriate closing date.
• Requests for personal property.
• The buyer isn't preapproved for a mortgage.
• Requests for repairs or allowances.

Of course, there are many, many more, but these are some of the most common. These problems are typically addressed via a counteroffer. This document says to the other party, "I accept the offer as long as the following conditions are met." This is the nuts and bolts of negotiating, and it's fraught with perils.

If you've done a good job of carefully selecting your real estate agent, this is the time to rely on him or her for advice. The decisions are ultimately yours to make, but expert advice should be considered.

Home Inspection

The home inspection presents another opportunity for a deal to fall apart. Home repairs can be costly. Some can make you want to walk away from the deal. If you decide to remain engaged in the process, you'll need your old friend the counteroffer to request repairs or a reduction in the price of the home to allow for the cost of repairs.

Appraisal

When markets change rapidly, appraisals become more challenging. When home prices began to stabilize after the latest recession, for instance, appraisers had nothing to base home values on but the depressed recession prices. Foreclosures particularly drag down values, and many homes aren't appraising for as much as homeowners and their agents expect them to.

If you're the seller or buyer of a home that doesn't appraise for the purchase price, your options include:

• Reducing the price.
• Raising the amount of the down payment.
• Challenging the appraisal.
• Walking away from the deal.

Closing

Lots of things can go wrong at closing. Some of the most common events are:

• The lender pulls a soft credit report and finds that the buyer has made some large purchases, changing his income-to-debt ratio to the point where he no longer qualifies for the mortgage.

• Your paperwork is delayed by the lender and your attorney pushes the closing to another day.

• The funds don't arrive.

• One of the parties is unhappy with the information on the HUD-1.

Not every real estate transaction has problems. In fact, most sail along smoothly. While it's hard to hold your excitement in check, the best time to let it loose is when your agent hands you the keys to your new home.

For More Info

To find out more about real estate transactions, or if you're interested in taking the next step toward selling your home or buying a new one, contact Tulsa Realtor, Brian Pingleton. He has the knowledge, experience, and resources to help you in every facet of real estate. 

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Applying for a Mortgage? Avoid These Common Mistakes

If you're a first-time buyer, an itch to start looking at homes typically starts just after you make the decision to buy. The feeling may be so overwhelming that it's the very first thing you do. That's mistake number one: Looking at homes without knowing how much you can spend on a home isn't just a mistake, it's silly.

So, how do you know how much you can spend? By visiting a lender and getting preapproved for a mortgage. Sure, it's not as exciting as actually looking at houses, but it's the first step in a process that, if not followed, presents plenty of potential pitfalls that may make it impossible for you to purchase a home.

Before you put pen to paper, though, signing away a big chunk of your salary for the next 30 years, do yourself a favor and prepare.

Check Your Credit

Did you know that up to 79 percent of Americans' credit reports contain errors? Twenty-five percent of credit reports contain errors that may result in the denial of credit, according to the U.S. Federal Reserve. That's why it is so important that you check yours before setting foot into a lender's office.

Everyone is entitled to a free copy of his or her credit report once a year. Get yours at AnnualCreditReport.com, the only source authorized by the Federal Trade Commission to provide the free credit reports.

Fix any issues on your report before applying for a mortgage.

Tell the Truth

Not too long ago lenders were busily providing what have come to be known as "liar loans." These were mortgage loans to people who couldn't afford them and were obtained by means of a "no document" process, meaning the applicant didn't have to prove his or her income or verify assets.

Those days are over, and obtaining credit is nowhere near as easy as it once was. Although you may be tempted to stretch the truth on your application to ensure you get the loan, don't give in to the temptation. The lender may dig up the truth, and you will be denied the loan.

Turn Down the Job Offer

One of the first things the lender will look at is your employment history. They want to see a minimum of two years with your employer or in your current field. While switching employers during the loan application process may not derail the loan, it will most likely delay the process while the new employment and salary are verified.

Don't Make Major Purchases

House hunting is exciting and shopping for the new house is probably top-of-mind. Don't do it.

The lender may run what is known as a "soft pull" of your credit just prior to closing escrow. If, for some reason, the closing is delayed beyond 30 days, you can almost count on the lender pulling your credit again.

If new debt is high enough to change your debt-to-income ratio, you may no longer qualify for the mortgage. So keep the credit cards safely tucked away in your wallet until after escrow closes.

The loan application process isn't nearly as glamorous and exciting as touring homes and shopping to outfit the new home, but it's the most important step in the process. Don't make any major financial or life changes between applying for the loan and closing escrow, and you should have no problems.

Consider Local Experts

There are so many options to choose from when it comes to lenders, and everyone has their own situation to consider. Sometimes working with a loan officer or lending company who is just down the street might help you avoid potential frustrating communication scenarios. For a list of local lending options, contact Brian Pingleton, a Realtor with Keller Williams in Tulsa, and he will direct you to some choices that his clients have considered excellent in handling their transaction.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

How to Stage a Vacant House

Most homeowners learn about the value of staging their homes for sale from their real estate agents. The statistics are clear: Staged homes sell quicker and for more money.

What happens when you don't live in the home? If you've used it as a rental or had to move to the new home before putting your current home on the market, you're stuck with a vacant home for sale. The average homebuyer doesn't have the ability to look at empty rooms and realize their potential, according to Kiki Wanshura, regional sales manager at Obeo, a virtual tour and marketing solutions company in Utah.

When confronted with the need to market a vacant home, the homeowner has several options.

Hire a Professional Home Stager

Think back to the last time you were in a model home. Everything was perfect: the furnishings, accessories and color palette. Model homes are carefully staged to emotionally appeal to buyers. This is one reason so many new-home buyers overspend on upgrades – trying to get their home as close to the model as possible.

Hiring a professional stager to stage an entire house may cost from $2,000 to $5,000, depending on where you live and the size of the home.

Stage the Home Yourself

A less expensive alternative to hiring a professional stager is to do it yourself. Most large cities have furniture rental companies where you can rent a sofa and end tables or enough furniture to fill an entire house. Use large moving boxes as beds. When covered with a comforter or quilt and lots of fluffy pillows, unless someone touches it, nobody will know it's not a real bed.

Purchase accent pieces from thrift stores, garage sales or online, such as at Craigslist or eBay. Hang a shower curtain and some towels in the bathroom, and place a few decorative items on the kitchen counter.

Model homes are good sources of ideas, or go online and look at some home decorating sites for inspiration.

Virtual Staging

What would you say if I told you that you could stage your vacant home, even replace the flooring and paint the walls for a couple hundred dollars? With virtual staging, you can do all that and more.

Virtual staging is a relatively new concept that is catching on all over the country. Virtual staging professionals work off of photographs of the rooms and add furniture and accessories from their digital warehouse.

Although the house won't look the same in person as it did online, virtual staging captures the buyer's attention at that important stage when they're looking at homes online. It's important to let buyers know that the photo they're viewing online has been virtually enhanced to avoid giving them the impression that they're being deceived.

The cost of virtual staging may run as high as $100 per photograph, according to Kim Palmer of the Star Tribune.

Hire a Home Manager

Nothing gives a home that lived-in look as much as when someone actually lives in it, with food in the refrigerator and clothes hanging in the closets. And there are now businesses that can help home sellers achieve this look. For example, Showhomes is a nationwide home staging service that provides what they call "resident managers" to live in vacant homes while they're on the market.

The managers are meticulously screened and most bring their own furniture and accessories. Best of all, rather than the homeowner paying for utilities on the empty home, the resident manager pays them. Showhomes purchases the additional homeowner insurance required.

Hiring a professional tenant is not for everyone. Showhomes, in fact, only supplies its services to homeowners whose homes are listed at $500,000 or more. They charge a staging fee of anywhere from $1,000 to $3,000 and, at closing, the homeowner pays .25 percent to 1 percent of the list price to the company. Since Showhomes is a franchise, some pricing structures may differ by region.

"On a million-dollar home, we would typically charge a $2,500 setup fee and a $5,000 success fee if and when the home sold, paid at closing," Thom Scott, director of operations for Showhomes tells the Daily Breeze. "If we didn't succeed in producing a sale, the homeowner would only pay the setup fee."

Hire a Local Expert

Some Realtors actually provides similar services at a reduced rate when using them to list your home. Brian Pingleton of Keller Williams in Tulsa is one such agent. He offers incredible opportunities to for sellers, such as help with staging on a budget, organizational techniques, increasing curb appeal, and more. "The whole idea is for a potential buyer to see the home not as the current seller does, but how the buyer sees the property in their own mind, using their own furniture and decor.  Homes that are staged well generally sell faster and for more money. If that's important to a seller, they could be losing money by not taking some simple steps for preparation, especially since it is generally inexpensive and quick to do."

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Quick Guide for Starting Vegetable Gardens

So, you purchased a home, started a home garden,and now you're ready for the next step: growing food. Not only is vegetable gardening a fun way to reduce your grocery bills, many edible plants are also ornamental. If you think a veggie patch has to be unattractive, think again.

If you're just starting out, you might want to start with a small space dedicated to vegetables. Keep in mind, though, that well-designed vegetable gardens can produce 600 to 700 pounds of produce per year per 1,000 square feet, according to the University of Kentucky's Agricultural Department.

Even with much less space, vegetable gardens can produce an abundance of food. Because 1,000 square feet is about the size of five parking spaces, even in the space it takes to park one car, more than 100 pounds of various vegetables can be grown.

Planning a Vegetable Garden

A garden plot should have well-drained, good soil. Vegetables need at least six hours of sun per day. If dogs, cats, deer or rabbits could be a nuisance, protect the plot with a fence. The size of your vegetable garden should reflect not only the amount of space you have to work with, but also the amount of time you're willing to spend working on it.

When planning what vegetables to plant, grow only those foods your family will eat. Plan in advance for the space a full-grown plant will require and avoid overcrowding by providing trellises to support tomatoes, pole beans, squash and cucumbers.

Taller vegetables, such as corn and artichokes, should be planted toward the rear of the garden to maximize sunlight for all plants. Permanent vegetables such as asparagus and rhubarb can occupy one side of a garden where they will not interfere with tilling.

Vegetable rows are more productive when they're as long and continuous as possible. This allows for the best tillage and less soil compaction, giving the roots more room to breathe.

Vegetables that grow quickly - such as lettuce, spinach, radishes, beets and carrots - can be planted in multiple crops throughout spring and summer for continuous edibles.

Raised-Bed Gardening

Raised beds give the gardener the option of planting vegetables in places with poor soil quality or poor drainage. One advantage of having a raised bed vegetable gardenis that the beds warm more quickly in the spring, lengthening the growing season. Also, because you don't step onto the soil in a raised bed, the soil doesn't get so compacted and less tilling is involved.

Raised beds can be of any size and design. They can be constructed of many things including wood, bricks, concrete blocks or even corrugated galvanized steel, and can be filled with quality soil and compost. Because raised beds drain more efficiently, they may require more frequent watering.

Container Vegetable Gardening

Not everyone has a handy backyard plot. Apartment balconies or patios and even windowsills are ideal places to grow vegetables, too, because nearly all vegetables can be grown in containers. Vegetables prefer at least six hours of sunlight a day, and plants such as tomatoes, eggplant, cucumbers and peppers need the most sunlight. Leafy vegetables, such as lettuce, spinach, cabbage and parsley can tolerate more shade.

Most vegetables will do well with 6 to 8 inches of potting soil, although root vegetables - such as beets, carrots and radishes - need deeper soil. Container vegetable gardening requires more frequent watering and fertilizer use than ground-grown vegetable gardening. If you opt for containers, be sure to check soil moisture daily.

Classes of Vegetables

When starting vegetable gardens, it helps to have an understanding of what different plants need. Here we list different classes of vegetables along with a few tips to help you get started.

• Root Crops: Cool-weather plants such as beets, carrots and parsnips can be sown early, even before light frosts end.

• Alliaceous Group: Onions, leeks and garlic are also hardy, cool-weather plants. They also can be sown early because they can withstand frost and cool weather.

• Brassicaceae Group: This cool-weather group consists of plants such as cabbage, kale, broccoli and cauliflower. In warmer climates, cabbage and kale can be started in the fall and harvested the next spring before the weather gets hot. In cooler climates, better results come from starting these plants in a hotbed or greenhouse starting in February. They can be transplanted in May or June.

• Solanaceous Group: This group includes the popular tomato, eggplant and red pepper. These vegetable plants do not tolerate frost and need longer seasons. They should be started early under glass and transplanted when the danger of frost is past.

• Cucurbitaceous Group: Cucumber, melon, squash and pumpkin are in this group. They do not tolerate frost and should not be planted until the threat of frost is past.

• Leguminous Crops: Vegetable plants in this group include peas and beans. They differ from each other significantly, though. Beans are warm-weather vegetables. Bean seeds need to be planted when soil is warm and dry to keep them from rotting. Peas are cool-weather vegetables and are among the earliest vegetables to be planted.

• Salad Plants and Pot Herbs (or Greens): Leafy vegetables make up this group. They should receive plenty of water. Almost all vegetables of this type will be sown in the spring. Most are cool-weather plants.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Timeshares 101

"Timeshare" used to be a dirty word, and it still leaves a bad taste in many mouths. Say the word to some folks and they begin conjuring up images of a group of people who could make used car salespeople look like amateurs.

Time has changed the timeshare industry, softened its edges and blurred its old, shyster image.

What is a Timeshare?

The word "timeshare" describes a person's right to use a vacation property during a specified block of time each year. The property is typically a condo in a resort complex and your access may be as part owner or on a lease-type basis, depending on the contract. Timeshare units typically feature "at-home" amenities, such as fully furnished kitchens and laundry rooms, and they range in size from studios to multi-bedroom units.

Types of Timeshares

Timeshare companies offer variations when it comes to access. The different programs include:

• The choice of vacationing the same week each year.
• A more flexible plan wherein you reserve the particular time slot you want on an annual basis.
• Choosing a different location every year.

Advantages of Owning a Timeshare

The biggest advantage of a timeshare over a traditional vacation home is that you pay only for the time you use it. Other advantages include:

• Maintenance: There is none. Your maintenance fee pays for all the upkeep.

• Ease of planning: When you own a timeshare, you always know when you'll be vacationing and where.

• Vacations are less expensive: When you use the property's kitchen, you'll save the money that you would have otherwise spent eating in restaurants.

• Flexibility: Use the timeshare company's exchange program to swap locations with other owners. This way you can visit a new place each time you vacation.

Disadvantages of Owning a Timeshare

• Fees: Timeshare maintenance fees can run up to $500 a month and frequently rise 4 percent every year.

• Value: Timeshares don't hold their resale value like traditional residential real estate purchases.

• Financial: Paying upfront for your vacation and paying fees on time may be challenging in a bad economy.

• Trading with others: To trade vacations with other timeshare owners you'll need an attractive location and time period. If you don't, you may find it impossible to locate someone willing to trade with you.

What to Consider When Shopping for a Timeshare

Timeshare sales people are really good at what they do. They may offer you a free night at the resort, and all you have to do is attend their tour or presentation. The pressure to buy is subtle yet high. Resist their urgency and resist the temptation to buy immediately because it's a "limited-time offer." Think before you sign on the dotted line. The Federal Trade Commission suggests that you consider the following:

• Ask questions. While the salespeople should be able to answer your questions, talk to current owners as well. How often do the maintenance fees increase? Are there supplemental fees that you need to know about? How well managed is the resort?

• Check the timeshare company's record with the Better Business Bureau and the attorney general of the state in which it's located.

• Have your attorney go over the contract before you sign it.

Remember that the cost of the timeshare is higher than the amount offered by the salesperson. Add to that figure the interest, taxes and maintenance fees. Oh, and don't forget to factor in the cost of airfare to and from your timeshare.

*** For all the real estate tools and the only Realtor you will ever need, visit TulsaHomeGuru.

Safety for Children: A Homebuyer's Guide to Kids' Rooms and Play Areas

Children alter how families look at homes during the home buying process. A family with children has to consider extra bedrooms, extra bathrooms, and safe places for children to learn and play. Indoor and outdoor recreation should be fun and comfortable, while safety should always remain the highest priority.

Kids' Rooms

Kids' rooms should be large enough for children to grow in. A tiny room may work for a 6-year-old, but could be terribly cramped for a teenager. Kid's rooms should include the following:

• Room to grow
• Accessibility
• Storage space
• A safe exit for emergencies

Families generally want kids' rooms on the same level of the house as the master bedroom. While a teenager might accept, or even want, a basement bedroom, small children's rooms should be close enough for you to access them quickly at night.

Consider the amenities you want in kids' rooms. Bookcases, closet organizers, and other storage space can be a real asset. Some solutions can be added after the home is purchased, but a house with built-in storage can be a plus.

Safety is also a consideration: In case of fire or similar emergency, you'll want to make sure that your children will be able to safely escape their bedrooms. Children's Hospital Boston reports that "over half of children ages five and under who die from home fires are asleep at the time of the fire," but also that "children in homes without working smoke alarms are at greater risk of fire-related death and injury in the event of a fire." This means that you should consider several fire escape routes when looking at the bedroom configuration in your prospective home, but you should also carefully assess the number, location, and condition of smoke detectors in your home no matter where the children will sleep.

Family Rooms and Dens

A home with a family room and a separate, more formal living room will let you relax while the kids are watching shows or host guests while your kids enjoy a minefield of Legos® on the floor in the adjacent room. When the children grow older, the toys can be picked up and the family room can become a place for study, arts and crafts, or hanging out with friends. A den can become a home fitness center, a library, or a guest room when your children fly the coop.

Play Sets and Play Areas

Outdoor playsets and play areas can be real bonuses when families with children go house hunting, but always keep safety in mind. Playgrounds and play areas are only an advantage if they are safe areas for children. While your kids may be delighted by a ramshackle tree house, your first thought should be whether or not it's safe.

Generally speaking, store-bought playsets are safer than DIY play areas slapped together by an inexperienced handyman. Having said that, some amateur-built jungle gyms are well thought-out, inventive, beautifully-constructed, and safe enough for children to use. The U.S. Consumer Product Safety Commission (CPSC) publishes a broad variety of safety information on playground construction, materials, and components.

When building or buying a play structure, think about its placement in relation to your home and the street. Constant supervision is important whenever children play, so make sure the space is visible from where you plan to spend time. The National Program for Playground Safety also recommends watching out for age-inappropriate equipment, hard surfaces, poorly-maintained equipment, and protuberances where children can become trapped.

Swimming Pools

At first glance, a swimming pool seems like a great idea for families with children - it sounds great to have pool parties or just cool off on a hot day. Take a step back, however, and consider swimming pool safety.

According to the U.S. Consumer Product Safety Commission, approximately 350 children under the age of five drown every year in swimming pools - more than three times as many as drown in all other areas of the home (like bathtubs, hot tubs, landscape ponds, and other water containers). A swimming pool safety cover is essential for a backyard pool, but it isn't enough. Many other precautions are recommended to make swimming pools safe places for children:

• Constant parental supervision
• Door alarms
• Safety fences
• Underwater motion detectors
• 
  
• Even all of these safety precautions don't completely guarantee your child's safety around swimming pools. Many parents decide the allure of a swimming pool isn't worth the safety issues. Those parents who do purchase a home with a swimming pool must commit to enclosing the pool securely and remaining vigilant as long as they have children in the home.
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Safety, Comfort and Growing Room

Family homes should be safe and comfortable. While children do need practical and fun spaces to relax, play, and grow, parents should also consider safety when looking for the place that their children will call home. If you're shopping for a home for your young children, think ahead to what they'll need when they're in high school. If your family might grow, think about whether you need extra space now or whether you can plan for a future addition. Consider whether the pool, playground, or tree house you're looking at is more likely to enrich your children's lives or endanger them. When you look at potential homes with your kids in mind, you can choose a home that offers the promise of a safe and enjoyable childhood.

*** Contact the only Realtor you will ever need, visit TulsaHomeGuru.