May 2022 E-Newsletter

This eNewsletter strives to give you information that will help you make an informed decision around your real estate goals. And, this month I also have a fun article about lighting - and how to make it work for your home. 

I am here to support you whatever your real estate needs might be.  When you are ready to make the decision to buy or sell, give me a call.

PONDER THIS - May is the end of Spring and the start of Summer - it's the season of possibilities. What possibilities will you turn into realities? The Real Estate Market is in a flux period - we don't know what the future holds. But, we do know interest rates are rising... we have choices to make. 

As always, I am here for you, your family, and friends.

HOME IMPROVEMENT, HOMEOWNERS, HOMEBUYERS, FINANCE

House Flipping 101

Home improvement television makes flipping homes look so easy anyone can do it. But the reality is much different. You can make a lot of money or lose money to problems that slow down your timetable and increase your risk.

There’s a reason why flipped homes are only a small percentage, about 6.2%, of the market. As an investor, you’re buying a property to sell quickly at a profit. You have to know the market and adhere to a strict acquisition formula to meet your estimated after repair value (ARV). The ARV informs your asking price that will both attract homebuyers and meet bank appraisals.

A hot market, with a low supply of homes and rapidly escalating home values, is ideal for flipping because buyer demand and price appreciation are “built-in.” But if homes to buy are hard to find, you may have trouble staying within your budget.  

The flippers who make the most money are full-time professionals who use cash to buy homes, do all the repair work themselves, and sell the home themselves. They know the market well enough to negotiate the right purchase price and have the skills and experience to estimate improvement costs accurately and do the improvements that appeal most to homebuyers. They know how to minimize out-of-pocket expenditures such as mortgage payments, utilities, property taxes, insurance and other costs of home ownership.

Can you do the same? If not, then buying and holding a home may be a better idea for you than flipping.

HOMEOWNERS, HOMEBUYERS, HOME SELLERS, HOME IMPROVEMENT, DÉCOR, LUXURY

Set the Mood with Lighting

Every space in your home has multiple functions requiring different lighting.  Even within the same room, you’ll need multiple light sources to set the right mood for the time of day and the activities you have planned.

Lighting comes in five major categories:

General purpose - any lighting fixture that is plugged into an ordinary socket, such as lamps or overhead fixtures.

Decorative - any lighting where the bulb can be seen, such as a chandelier, bathroom strip lighting, pendant lighting or sconces.

Track or Recessed - lighting that is usually a floodlight or spotlight in tracks or recessed fixtures. 

Specialty - unusual lights found in appliances or furniture such as cabinet lighting and appliance lighting.

Outdoor - lighting that is specially designed for use outdoors such as security lights, lamp post lights, porch or entry lights.

The key to mood lighting is temperature. Lighting is either cool or warm, so the bulb you choose can put out yellow, soft white, bright white or natural daylight. Smart bulbs connect to mobile devices to be turned on and off, dimmed or brightened, or color changed with an app.

Layering your lighting gives you more options. Overhead lighting on tracks, ceiling fans, or recessed lighting provides central lighting. Floor lamps or torchieres, uplights, and downlights can accent architectural features and art displays. Sconces add stylish indirect light anywhere you place them.

Be sure to check any fixture you buy for the manufacturer's instructions on the type of bulb and maximum wattage allowed.