Renovate and Love It?  Or List it?

Mar 5, 2020 4:08 pm
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This time of the year many people look around the house and see all those projects that need to be done and/or completed.  Regardless of where on the list your projects are, there’s always the investment that needs to be considered.  What will be my ROI when it comes time to sell?

When considering remodeling, a homeowner always must take into consideration many different aspects before starting the project such as:

  • Are you staying for a while or are you getting ready to list? If you’re staying then you can take into consideration your likes, tastes, color schemes, etc.  If you’re listing, then you will want to keep things neutral.  Many people can’t get past a color scheme to see the potential of a home.
  • Do you have several projects on your mind and wondering where to start first? Most will say, if the kitchen is on your list, start there first as a great kitchen will yield 70% ROI.  That’s why if a house has a great kitchen, the listing shows many photos of the kitchen.
  • Typically, next on the list is the bathroom and usually the master bath. When remodeling the bath, the functionality should be the heart of a bathroom remodel. Make a list of what you wish to gain with the remodel, i.e. more storage, need more lighting, more outlets, etc. Shower or tub or both?  If you very seldom take a bubble bath why have a huge garden tub taking up space?
  • Then there’s the floors. Sometimes that’s at the top of the list. If it’s the only project you want/need to do, that’s great, but if you have other renovations to do, save the floors for last due to the wear and tear from the other remodeling projects.  You don’t want your beautiful new floors scuffed and scared.
  • Hire a reliable contractor and have some ideas of what you what your finished project to look like. Start a notebook or Pinterest board with all your ideas so that you can show your contractor what you have in mind, because a picture is worth a 1000 words.  Many home improvement stores will also help draw up the plans for some remodels, like a kitchen.

So, what are the top renovations you can do that have the biggest ROI?  We searched many different sources and here is our overall list:

  • At the top of the list and the one that will give you the biggest ROI and pay for itself is attic insulation at 116.9%
  • Stone Veneer. This was a surprise, but in all the research, this one kept coming up and with a 95.6% ROI.  This one adds to that curb appeal.
  • Garage Door Replacement for a 91.5% ROI
  • Entry Door Replacement with a steel door. Again, looking for that curb appeal and safety. 91.1%
  • And lastly and most interesting we found that most projects recommended that are lower in cost often make cosmetic improvements and yield a very good ROI.
  • For example:
    • Minor kitchen remodel. Replacing or adding kitchen hardware.
    • Refinishing or painting cabinets can give up to 77% ROI.
    • Rather than a total remodel of a bathroom, consider replacing the fixtures and possibly the sink.
    • And then there’s the light fixtures that may also be out of date. Replacing outdated light fixtures and ceiling fans are other good investments that add a good esthetic appeal.

Still wondering whether to start on those projects or just sell as is?  Contact the Dinsmore Team.  We can advise you as to what home improvements make sense for the area and your neighborhood.  You can then decide if you want to renovate and Love It or List It.

The Dinsmore Team

RE/MAX Around Atlanta

www.DinsmoreTeam.com

Cell 770-712-7789/Fax 770-888-7793

Experience, Passion, and Commitment to Excellence!

Why Now Might be the Best Time to Sell Your Home

Feb 19, 2020 10:33 am
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Trying to decide when is the best time to sell your home can be tricky, but also is determining the final profit on your home.

Here is some information to help you make that decision.

  • Home prices are trending upward. According to Georgia Realtors, home prices from 2018 to 2019 increased by 3%. Prices are looking to trend even higher for 2020. That is good news for the seller, but if you are also buying, it’s another consideration.
  • Housing markets are low. When the housing inventory is low, buyers tend to contemplate all options in the market area and make quick offers. This is good news for sellers because it often leads to bidding wars in attempts from buyers to get the best house in the area.
  • Homes are spending less time on the market. As with inventory being low, buyers are acting fast. The average time on the market in 2019 was 56 days. That was a 5% decrease over the previous year’s statistics.

So, are you still trying to decide when is the best time to sell?  Still wondering what your final profit might be? We can help with that. We are now iRep certified.  What does that mean? We can test the market for you without doing a formal traditional listing. We can help you receive cash offers on your home and a retail market valuation in 48 hours. Then you can decide whether or not to accept the offers or go the traditional route of selling your home.

The time is right. All the pieces are falling into place. With increased housing costs, lower inventory, and fewer days on the market, now is the best time to sell a home.  Let the Dinsmore Team help you through the process.

Homestead Exemption

Feb 12, 2020 12:02 pm
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What is it?  How and when do I file? 

We have the answers for you.

If you purchased real estate property in 2019 and occupied it as your primary residence on January 1, 2020, you are potentially eligible to file for a homestead exemption. 

What is Homestead Exemption? 
Homestead exemption is a discount on your real estate property tax bill for an owner-occupied principal place of residence.

Am I Eligible? 
If the property is your principal place of residence as of January 1, 2020, and you purchased last year (or any year prior), you are likely eligible to file for a homestead exemption with your county’s tax assessor’s office.

How much will it save me?
Savings vary depending upon where the property is located, but if you are eligible, you don’t want to miss the deadline for filing!  A Savings on your tax bill is a good thing!

The deadline for filing is April 1st of this year for all counties in Georgia.

The best place to get information regarding filing instructions is from your county tax assessor’s office. If you are in a city, you may have to also file with the city (i.e. Cumming, Milton, Roswell, Alpharetta, etc).

Below are some of the websites for tax assessor’s offices for this area –

Fulton County –

Click to access 2018-Guide-To-Homestead-Exemptions.pdf

Cherokee County –

https://www.cobbtax.org/property/exemptioninformationhttps://www.cherokeega.com/tax-assessors-office/homestead-exemptions/

Forsyth County –

https://www.forsythco.com/Departments-Offices/Board-of-Assessors/Homestead-Exemption

If your tax assessor’s website is not shown in the list above, a google search for your county’s tax assessor should quickly locate the necessary information for filing directions.

Congratulations again on your purchase and please let The Dinsmore Real Estate know if you have any questions about homestead exemption filings.

 

 

There’s More than One Way to Sell a Home

Jan 31, 2020 9:15 am
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When it comes to selling your home, it’s a big undertaking.  Unless you’ve maintained your home in pristine condition, it make take a few months to get it to the point you can list and show it.  And what about those repairs that need to be done?  And do you invest in doing those upgrades or not?  Which upgrades will bring you your best ROI?  Just so much to take into consideration.

What if there was a way to get an idea of what your home value would be in it’s ‘as is’ condition?  Well, you may be thinking, I can just look at the other homes in my neighborhood.  Or call a Realtor who can give you an assessment.  Yes, those are viable options, but what if there was a way to present your property to multiple sources and receive multiple offers without the guess work?  What if I told you, there is a way?

I am now iRep certified.  Which means I can assess your property and put together a presentation to all those companies who advertise to give you cash offers on your home.  But you’re probably thinking, well can’t I just do that myself?  Yes, you could, but by using my services and expertise, I can help get you the best offer.

Typically, what happens when you go directly to one of these companies, they do no prior assessment of your property.  They just look at the basic information and what has sold around you and send you an offer.  If you want to proceed, then they send someone out to inspect your property and then give you the real offer, which is much lower than what they initially offered.  Why, because they see all the things that needs to be repaired, replaced, upgraded, etc. and lower their offer.  When you use my services, I provide the assessment to the company upfront which includes any repairs, etc. that need to be done.  You then get an offer of the true value of your property because they know upfront the condition of the property.  Plus, since I am representing you, you won’t be bombarded with emails and phone calls should you decide this is not the route you want to pursue.

Using my iRep services can help the home selling process in a couple of different ways.  First, if you’re thinking about selling and want to get a really good idea of what your home will bring, this is a good option.  Second, after receiving your offer, you can decide if you want to go through the listing and showing of the traditional route.  Perhaps you have small children, animals, or elderly parents that going the traditional route would be very disruptive to your home life.  Perhaps the difference between getting a cash offer and what it would take to get your home ready to list and show is not in your time constraints.  Perhaps you have a reason that you need to sell and move quickly.  All of these are very valid reasons to consider using the iRep process.

To learn more about the iRep process give me a call and we can discuss what is best for you and/or see our webpage at https://www.dinsmoreteam.com/irep/ for more information.

Home Sales for the Past Year

Jan 24, 2020 3:49 pm
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Happy New Year!  It’s still January so I can still say that.

The real estate market continues to be great!

Housing Indicators are in for 2019, and it was another great year for Georgia’s housing market! With a strong economy and low mortgage rates, buyer activity has been strong. However, inventory levels are still below historical norms, and prices continue to rise.

A few quick facts are listed below – all indicators are year over year for existing single-family homes.

• Median Sales Price: 6% increase to $228,000
• Pending Sales: 6.7% increase to 145,087
• Closed Sales: 4.9% increase to 142,915
• New Listings: 6.4% increase to 201,215
• Average Sales Price: 4% increase to $272,207
• Days on Market: 5% decrease to 55 days
• Months Supply of Inventory: 10.8% decrease to 3.3 months

If you are thinking about buying or selling, now is a good time.  Mortgage rates are still low and prices will continue to go up. Give us a call, we are here to help.

Marie Dinsmore

The Dinsmore Real Estate Team

770-712-7789

How to Buy a Home This Year!

Oct 18, 2019 5:56 pm
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Here’s what home buyers and those who dream of owning a home need to know. Inventory’s still tight, but there are great houses waiting to be bought and loved.

Consider a fixer-upper. Instead of looking at houses above your budget, look at fixer-uppers priced below your budget and invest the rest upgrading it. You’ll end up with a home full of your own design choices, and just think of the eventual return on investment. Just be sure to buy smart: avoid fixer-uppers with red-flag issues like a crumbling foundation.

Look at old listings. Old doesn’t always mean a listing has issues—it can also mean the house was priced too high from the start. Some sellers drag their feet before lowering the price, and the house just hangs out on the market. When buyers search only for new listings, they can miss great properties with price adjustments.

Get a sneak peek. Ask your agent about “coming soon” listings for homes waiting to hit the market. Often, real estate agents have the inside scoop on homes two to four weeks before they’re listed.

Don’t let the tight market and interest rates slow down your home buying momentum. There are great homes out there, whether they’re in a hot up and coming neighborhood or your own neighborhood. For you, this year or in the New Year may just mean a new home. You can start looking for it today!