Remodeling Ideas

Before Kitchen 

After Remodeling 

As home values drop and loans become harder to get, homeowners are going after remodeling projects that cost less and hold their value when it comes to sell. Here are some home improvements based on cost vs resale value.  Basically, it shows the resale value of your house when you've finished your remodeling projects.  

Bathroom Remodel 

Cost: $19,936

Resale Value: $10,850

Cost Recouped: 57.3%

How to do it:

Add a full 6-by-8-foot bathroom over a crawlspace with poured concrete walls.  Include cultured-marble vanity top with molded sink; standard chrome faucets; 30-by-60-inch white fiberglass tub/shower with ceramic tile surround; single-lever temperature and pressure-balanced faucet; white low-profile toilet; general and spot lighting; electrical wiring to code; mirrored medicine cabinet; linen storage closet or cabinet; vinyl wallpaper; painted trim; and ceramic tile floor.

Minor Kitchen Remodel 

Cost: $20,377

Resale Value: $14,611

Cost Recouped: 71.7%

How to do it:

In a functional but dated 200-square-foot kitchen with 30 linear feet of cabinetry and countertops, leave cabinet boxes in place but replace fronts with new raised-panel wood doors and drawers, including new hardware. Replace wall oven and cooktop with new energy-efficient models. Replace laminate countertops; install midpriced sink and faucet. Repaint trim, add wall covering, and remove and replace resilient flooring.

Window Replacement (Vinyl)

Cost: $12,633

Resale Value: $7,313

Cost Recouped: 57.9%

How to do it:

Replace 10 existing 3-by-5-foot double-hung windows with insulated vinyl replacement windows. Wrap existing exterior trim as required to match. Do not disturb existing interior trim.

For a complete list of all the remodeling projects, you may refer to Remodeling Cost vs Value Report 2011-12.  so, why invest in these major improvements? In our current buyer's market, says the National Association of Realtors, houses with well-done improvements tend to sell quicker than their shabbier neighbors.  As a result, remodeling your home is a great investment.

If you need a list of professionals who can help you remodeling your home, please don't hesitate to contact me.

How to Sell Your Home During Winter

Many people say that it's harder to sell a home in winter than in summer.  But there are real advantages to selling during the cooler months. In winter time, there are fewer homes on the market, thus less competition from other sellers.  Furthermore, you'll have more serious buyers during the winter months than any other season.  A buyer(s) who is willing to brave the winter elements and subzero temperatures to view homes is often times very serious about purchasing their next home or investment property.

And don't worry, the things that lead people to make new home purchases - a new job, a growing family, up or downsizing happen all year round and there are still plenty of buyers out there.

However, be prepared to put a little effort into making your home more appealing at this time of the year.  If you do it right, you can really make your house stand out.

1.  Keep snow and ice at bay

Usually, when the buyer can't get in easily, the house won't sell.  That means keeping sidewalk, walkways, driveways and front steps free of snow and ice.  You want to show the buyer that your house is being well maintained.  If you do not live in the house, hire a service to salt and shovel the driveway and walkways.

2. Keep it warm 

Part of making a home inviting to an interested buyer involves making it feel warm and cozy.   Buyers who come in and aren't comfortable won't stay long. Set the thermostat higher if you know people are coming to look at the home.  Turning on a fireplace can give a very nice ambiance aside from making your home warm and cozy.

3. Get the Windows Washed

Unkempt and dirty windows can turn off buyers before they even enter a house.  Make the windows squeaky clean - this will get a good impression from a buyer.

4. Play music softly in the background

Another way to make your house feel like a home is to play some soothing music during a showing. Choose something soft and inviting on the radio, and turn it down just enough so that you can hear it in the background.

5. Emphasize winter positives

Make sure to point out the advantages of living in your home during the inconvenient weather.  Some homes can use winter as selling point. Is your house near a ski area? Do you have winter views? Is there a great sledding hill down the street? People want to hear about the winter perks they enjoy living in your 

home.

6. Set up timers

If you're not at home often, put your indoor and outdoor lights on timers.

7. Give the home a nice aroma  

The No. 1 favorite scent is 'chocolate chip cookies'. Other popular scents are cinnamon rolls, freshly baked bread, apple pie, apple cider or anything with vanilla, cinnamon or yeast.

Watch out for the bad smells too... pet smells, smoke and musty odors can cling to curtains and carpets. Make sure that you got rid of these smell before showing your home to your potential buyer.

8. Protect the floors

To protect your floors, put down rubber mats by the door for snowy boots; buy a few pairs of comfy one-size-fits all slippers from a department or discount store for visitors to wear while they view your home.

In January 2011, James Real Estate Team sold (9) houses in (11) consecutive days - not too bad for the slowest part of the year... Contact us today to take advantage of the Winter Season and to get your home SOLD in the least amount of time for the most amount of $$$ back in your pocket.  If you or someone you know is interested in BUYING, please contact us to get the BEST DEALS currently on the market.  

Please remember to tell a friend, co-worker, or family member about the James Real Estate Team. Best Wishes and Happy Holidays!!

My FUN Sunday Afternoon!

I would like to thank everyone for coming to the James Team Holiday party held last Sunday, 4th of December at the Kincaid Chalet. Although the bad weather gave us a challenge, nothing can stop us from having fun! And we, (kids and adults alike) absolutely had a fun and enjoyable Sunday afternoon!

Marky Mark was a huge hit with all the kids. He made wonderful balloon art swords, wands, bows and arrows and even hats, helmets, and head gear!! Miss Yuliya, the face painter made some very beautiful art painting for both kids and adults.  (See pictures)

Shawn Williams from Five Star Entertainment hosted the event.  What is a holiday party without some games for the kids? We played limbo rock game, freeze frame dance game and of course, how can we forget the Marshmallow tower game?  

And as a token of remembrance, we distributed goodie bags to the kids to take it home with them.

All in all, the event was a success. All participants had an enjoyable fun afternoon despite the weather.  Again, thanks to everyone who came. I really enjoyed the relaxing Sunday afternoon with my friends and family. And for those who were not able to make it, stay tuned for the next event!

Referrals are important part of our business and we appreciate you spreading the word to all of your co-workers, friends, and family. If you know anyone interested in buying, selling, or investing in real estate please contact me. 

About Refinancing

We've been hearing a lot about refinancing.  What is refinancing all about?  Will it really help your current financial situation? When is the right time to refinance your home?

It may be the right time for refinancing your home if:
- You want to lower your monthly payment and you don't mind if you end up paying more interest over the life of the loan

- You want to shorten the term of your loan and you can afford to pay more per month

- You want to get cash out for a home improvement project or to pay off consumer debt 

- You have an adjustable-rate mortgage (ARM) and you want to convert to a fixed-rate mortgage to lock in current rate

Mortgage rates are at rock-bottom lows.  Freddie Mac recently released the results of its Primary Mortgage Market Survey showing 30-year fixed rate mortgage averaged 3.99%, the 15-year FRM averaged at 3.30%. 

According to bankrate.com, with the current mortgage rate in the market, this is a good time to at least consider refinancing your home.  Here are the things you need to know when you're thinking about refinancing:

1. Know how much your house is worth compared to how much you owe

If you do not know your current loan balance, you may check your last annual statement from the mortgage company, read a recent invoice or call the servicer and ask.  Just an approximate will be enough.  You can check Zillow Zestimate or Trulia for the current value of your home.  Divide the home's estimated value by the amount you owe. If you owe $80,000 and the house is worth $100,000, then you owe 80% of the home's value.  If you owe $120,000 and the house is worth $100,000, then you owe 120% of the value.

2. Find out the value of your home equity loan or equity line of credit. 

Add that amount to the amount you owe on the main mortgage. Take the combined amount, and divide it by the home's estimated value.  For example, if you owe $80,000 on the first mortgage and $10,000 on the same equity line of credit, you owe a total off $90,000.  If the house is worth $100,000, then your total debt on the house is 90% of the home's value.

3. Document all your assets. 

This includes all your savings and checking accounts, retirement accounts, mutual funds, stocks, bonds and trust funds.

4. Refinance for the same term as your outstanding loan.

With a refinance, don't start again at the bottom.  If you have already paid 5 years of your 30-year loan, arrange your financing for a 25-year mortgage.  You planned to pay off the remaining old mortgage in 25 years, so you should also plan to pay off the new mortgage in 25 years.  Just ask the lender to amortize your payments over the shorter term.  Or, if you can afford it, refinance into a 15-year mortgage.

5. Don't make any big purchases before closing the refinancing 

"A major financial investment could lower your credit score, this can result to paying more in fees or getting a higher interest rate.  Wait until the refinance is closed and funded before you do anything that might change your credit profile." says Michael Becker, Mortgage Consultant for Green Pastures Mortgage & Finance in Lutherville, Md.

6. Shop for several lenders

When shopping for lenders, check with different types of lenders: including banks, credit unions and mortgage brokers.  The more you compare rates and closing costs, the more you'll know which is the right lender for you.  Don't be afraid to ask too many questions. Ask about charges associated with a new mortgage, this may include the application fee, credit check fee, appraisal fee, origination fee, document processing fee and underwriting fee. 

Other charges may go by various names, including copying fees, broker fees and yield spread premiums.

7. Watch the little details

Read the contract carefully, watch out for small prints. This can save you lots of money if you fully understand the terms of your new loan. 

Refinancing allows you to take out a new loan that pays off your current mortgage.  Although you are then obligated to make payments on the new loan, your costs typically are lower after refinancing.  A new half-percent rate lower than the original interest rate may save hundreds of dollars each month.  However,
it is always advisable to make a comparison between an old loan and refinancing loan computation -- just to see if refinancing is a better option for you.

Beware of scams you might encounter during a search for a lender.

If you have any questions about refinancing, please don't hesitate to contact me.

Turkey Day Special (Part 3/3)

Although at first, many people might say that the best thing about Thanksgiving is the food, or maybe even NFL football, but I think most would agree that when you stop to think about it, the best thing about Thanksgiving is spending time with your family. As you get ready for Thanksgiving this year, here are few fun things to do with your family on Thanksgiving.

1. Board Games on Thanksgiving

One popular board game among families is Apples to Apples. It’s a great group game and a ton of fun! You can also play games like Taboo and Monopoly.


2. Look at Family Pictures on Thanksgiving

Thanksgiving is all about giving thanks for all that you have in your life. One fun thing to do on Thanksgiving is look through family pictures. It’s especially fun to go through all of the old pictures of you and your family from growing up. It’s even better if one of your siblings has a new girlfriend or boyfriend as going through all pictures of your brother or sister is very embarrassing. It can lead to a lot of laughs on Thanksgiving!


3. Volunteer on Thanksgiving

Volunteering on Thanksgiving is a great way to give back to your local community.  Working at a local soup kitchen and working on community outreach programs on Thanksgiving can provide you with a real sense of pride.


4. Family Home Improvement Project on Thanksgiving

Do you have a home improvement project that you’ve been putting off? Well, have the family over to your house for Thanksgiving this year! No seriously, working on a home improvement project with your family can be really fun. It’s also a great way to get a few things done around the house on the cheap.

Thanksgiving is one holiday in the year that we look forward to.  I hope you all have an enjoyable day with your loved ones.  Happy Thanksgiving to all and to your loved ones.

Turkey Day Special (Part 2/3)

For Thanksgiving Day, friends and family will be looking forward to some traditional roast turkey with stuffing, mashed potatoes with gravy, pecan and pumpkin pie and sweet potato and green bean casseroles (No wonder, it takes 18 hours to prepare!)

Of course, it's not a Thanksgiving Dinner without the star of the table.  Here's an easy turkey recipe from Martha Stewart that you can follow:

Ingredients

    1 whole turkey (about 12 pounds), thawed if frozen, rinsed and patted dry (neck and giblets reserved, liver discarded)
    Coarse salt and ground pepper
    4 cups Pecan Cornbread Dressing
    2 tablespoons butter, room temperature
    1/2 cup packed light-brown sugar
    1/4 cup spicy brown mustard

Directions

1.    Preheat oven to 350 degrees with rack in lowest position.  Place turkey on roasting rack set in a large roasting pan. Season inside of turkey with salt and pepper. Loosely fill neck and large cavity with dressing; fold skin over, and secure with skewers or trussing needles, if necessary. Bend wing tips forward, and tuck under neck cavity. Using kitchen twine, tie legs together securely. Rub turkey all over with butter; season with salt and pepper.

2.    Add neck, giblets, and 3 cups water to roasting pan. Cover turkey loosely with aluminum foil. Roast 1 hour, and then baste with pan juices every 30 minutes, until an instant-read thermometer inserted in thickest part of a thigh (avoiding bone) registers 125 degrees, 1 to 2 hours more.

3.    Remove foil; increase heat to 400 degrees. In a small bowl, stir together sugar and mustard; brush turkey with glaze. Rotate pan, and continue to roast turkey, brushing with glaze 2 to 3 more times, until thermometer registers 165 degrees, 45  minutes to 1 hour more (tent with buttered foil if browning too quickly; add more water if pan becomes dry).

4.    Transfer turkey to a platter; reserve pan with drippings for gravy (opposite). Cover turkey loosely with foil, and let rest at least 30 minutes (or up to 1 hour). Before serving, remove dressing, and carve.

Turkey Day Special (Part 1/3)

Thanksgiving is the holiday for giving thanks to all our friends, families and relatives. It is the day to thank God for the blessings we have received. It is also the day to meet friends and family.  Don't you find it funny that Thanksgiving dinners take eighteen hours to prepare? They are consumed in twelve minutes. Half-times take 12 minutes. And it's not a coincidence! 

I know you've learned about the history of Thanksgiving in school, but here's a refresher anyway -- in case you've forgotten about them.  In September 1620, 102 brave men and women from Plymouth, England boarded the ship of their dreams called the Mayflower to set sail for the "New World" (which is now called the United States of America).  These men and women were Pilgrims seeking a new home where they can freely practice their faith. Other individuals were lured by the promise of prosperity and land ownership in the New World.  After 66 days of hard travel, they dropped anchor on December 1620, near the tip of Cape Cod - which is far north of their intended destination.  One month later, the Mayflower crossed Massachusetts Bay, where the Pilgrims began the work of establishing a village at Plymouth.

The brutal winter that year killed almost half of their people.  Most of the colonists remained on board the ship, where they suffered from exposure, scurvy and outbreaks of contagious disease.  In March, they received a visit from an English speaking Abenaki Indian welcoming them to the land. Several days after, they met another Native American, named Squanto who taught them about fishing, planting and hunting. 

By autumn of 1621, the colonist had collected enough food to feed the whole community for the following winter. To celebrate the first successful harvest, Governor William Bradford organized a 3 day feast, which is now known as America's first "Thanksgiving".

In 1777, the Continental Congress decreed that all America's 13 colonies celebrate a national day of "Thanksgiving" that year to celebrate their victory from the British at Seratoga. However, by the mid 19th century, many celebrated the holiday, but there was no official day declared to celebrate Thanksgiving.  The author of nursery rhyme, "Mary Had a Little Lamb" - Sarah Josepha Hale persuaded Abraham Lincoln in 1863 to proclaim November 26 as the nation's official day of "Thanksgiving", to be observed the final Thursday in November each year.

In the 1920's, a national football league was born. In order to boost attendance, they devised a concept of Thanksgiving Day Game.

Parades became a turkey day tradition. The Department Stores also saw value in Thanksgiving day, they organize sales as kickoff to Christmas shopping season.

Most of all, Thanksgiving is about family. With modern life moving at a faster pace, Thanksgiving is a day that gives us time to collect our breath, reconnect with our loved ones and to just remember of what we are thankful for.