Raleigh Real Estate
By: John Riha
Kitchen remodeling can turn a ho-hum room into your home’s pride and joy. Here are strategies to help your project run smoothly.
A significant portion of kitchen remodeling costs may be recovered by the value the project brings to your home. Kitchen remodels in the $50,000 to $60,000 range recoup about 69% of the initial project cost at the home’s resale, according to recent data from Remodeling Magazine’s Cost vs. Value Report.
To make sure you maximize your return, follow these seven smart kitchen remodeling strategies.
1. Establish priorities
The National Kitchen and Bath Association (NKBA) recommends spending at least six months planning your kitchen remodeling project. That way, you won’t be tempted to change your mind during construction, create change orders, and inflate construction costs. Here are planning points to cover:
- Cooking traffic patterns: A walkway through the kitchen should be at least 36 inches wide. Work aisles should be a minimum of 42 inches wide and at least 48 inches wide for households with multiple cooks.
- Child safety: Avoid sharp, square corners on countertops, and make sure microwave ovens are installed at the proper height—3 inches below the shoulder of the primary user but not more than 54 inches from the floor.
- Outside access: If you want easy access to entertaining areas, such as a deck or patio, factor a new exterior door into your plans.
A professional designer can simplify your kitchen remodel. Pros help make style decisions, foresee potential problems, and schedule contractors. Expect fees around $50 to $150 per hour, or 5% to 15% of the total cost of the project.
2. Keep the same footprint
No matter the size and scope of your kitchen remodel, you can protect your budget by maintaining the same footprint: Keep the walls, locate new plumbing fixtures near existing plumbing pipes, and forget bump-outs.
Not only will you save on demolition and reconstruction costs, you’ll cut the amount of dust and debris your project generates.
3. Get real about appliances
It’s easy to get carried away during your kitchen remodeling project. A six-burner commercial-grade range and luxury-brand refrigerator may make eye-catching centerpieces, but they may not fit your cooking needs or lifestyle.
High-priced appliances are worth the investment if you’re an exceptional cook. Otherwise, save thousands with trusted brands that receive high marks at consumer review websites, like www.ePinions.com and www.amazon.com, and resources such as Consumer Reports.
4. Light your way
Good kitchen lighting helps you work safely and efficiently.
Install task lighting, such as recessed or track lights, over sinks and food prep areas; assign at least two fixtures per task to eliminate shadows. Under-cabinet lights illuminate cleanup and are great for reading cookbooks. Pendant lights over counters bring the light source close to work surfaces.
Ambient lighting includes flush-mounted ceiling fixtures, wall sconces, and track lights. Pair dimmer switches with ambient lighting to control intensity and mood.
5. Be quality conscious
Functionality and durability should be top priorities during kitchen remodeling. Resist low-quality bargains, and choose products that combine low maintenance with long warranty periods. Solid-surface countertops, for instance, may cost a little more, but with the proper care, they’ll look great for a long time.
If you’re planning on moving soon, products with substantial warranties are a selling advantage.
“Individual upgrades don’t necessarily give you a 100% return,” says Frank Gregoire, a real estate appraiser in St. Petersburg, Fla. “But they can give you an edge when it comes time to market your home.”
6. Add storage, not space
Here’s how you can add storage without bumping out walls:
- Install cabinets that reach the ceiling: They may cost more–and you might need a stepladder–but you’ll gain valuable storage space for Christmas platters and other once-a-year items. In addition, you won’t have to dust cabinet tops.
- Hang it up: Mount small shelving units on unused wall areas and inside cabinet doors; hang stock pots and large skillets on a ceiling-mounted rack; and add hooks to the backs of closet doors for aprons, brooms, and mops.
7. Communicate early and often
Establishing a good rapport with your project manager or construction team is essential for staying on budget. To keep the sweetness in your project:
- Drop by the project during work hours: Your presence broadcasts your commitment to quality.
- Establish a communication routine: Hang a message board on site where you and the project manager can leave daily communiqués. Give your email address and cell phone number to subs and team leaders.
- Set house rules: Be clear about smoking, boom box noise levels, available bathrooms, and appropriate parking.
HomeTowne Raleigh Realtors help Sellers know how to make improvements that bring the most money when selling in today’s market.
Test for Radon when buying a Raleigh Home
Radon is a naturally occurring, radioactive gas that can enter the buildings through holes and cracks in foundations. You can’t see, smell or taste it, but it’s the second leading cause of lung cancer in the U.S. It is being found more in Raleigh North Carolina lately.
According to the Environmental Protection Agency (EPA), radon causes about 21, 000 fatal cases of lung cancer each year. Also, about 15 out of every 1,000 nonsmokers exposed to radon levels twice the EPA’s recommended action level will develop lung cancer.
This carcinogen is easily overlooked not only because it’s imperceptible, but because people are typically exposed to it where they feel safest – at home. The EPA estimates one in 15 homes in the U.S. has radon levels higher than tolerable. The U.S. Surgeon General recommends that all homes be tested for radon.
The good news? Radon problems are easy and relatively affordable for property owners to fix. In dealing with radon, awareness is key.
Radon Testing is only $145 and you will have the results the day we pick up the testing machine. Radon has been found in a lot of the local subdivisions.
Information provided by Top 2 Bottom Inspections Inc, Talton Earp, www.top2bottominspections.com, 919-631-1805
Raleigh Homes for Sale with Pools
Not every home buyer is interested in having their own in-ground pool. Some homeowners wish to live in Pool Communities. But if your family is the “outdoorsy” type then maybe having your own pool is a good real estate move.
The National Association of Realtors says an in-ground pool adds about 7.7% more in value to the home’s market value.
There is a growing segment of baby boomers who pass up buying a vacation home to invest in their own back-yard paradise. They install complete pool systems boasting waterfalls, hot tubs, climbing walls and extensive landscaping.
• Many people believe pools increase the aesthetic value of their yard.
• People who host a lot of parties utilize their pools as an entertainment center, and kids love pools.
• Pools provide an easy way to instantly cool down on hot days.
• Some people use swimming pools exclusively for in-water exercises and say pools add health benefits for them.
• Swimming pools can bring added value at resale, especially in hot climates.
Raleigh Real Estate with In-Ground Pools
What to look for when buying a home with a pool
If the pool is open, some home inspection services will check both structural and mechanical aspects as part of their pre-purchase service. If your home inspector doesn’t have the expertise, ask a pool inspector to come and have a look. Although this can be more difficult in the fall and winter especially if there’s a cover or the pool is empty.
In addition to an inspection, here are a few more questions to ask and things to look for:
• Ask who installed the pool and who has been looking after it. Your realtor should know whether the pool company is reputable.
• Imagine what the backyard will look like in summer, or ask to see photos. Make sure it gets adequate amounts of sun and shade, and check for overhanging trees that will drop leaves in the pool. Check that the lights work.
• Ask for a written assurance from the owners that all pool equipment works. Pool equipment and plumbing can be very expensive to replace. The pool or home inspector will check them to make sure they’re working properly and have been adequately maintained.
• If there are signs of repair, ask what happened. If it’s a vinyl-lined pool, look for tears. Stains may be merely an aesthetic concern, but they could also mean a problem lurking.
• If there are no obvious tears or cracks, look for water-saturated soil in the area around the pool, pump or plumbing
• The water should be crystal clear. If it isn’t, ask why.
• Review the operating costs. For an average 12-by-24-foot pool, the pump shouldn’t cost much more than $40 a month to run. The heating costs shouldn’t exceed $100 a month. And the chemicals should be approximately $400 a season. If costs are higher, it could be an indication that the equipment will need to be replaced soon.
Raleigh Home with Mold problem
September has been declared Mold Awareness Month by the US Environmental Protection Agency (EPA). It was designed for homeowners to evaluate the possibility of mold growth in their Raleigh home under normal or emergency situations.
Mold is a microscopic organism that is found everywhere and serves a helpful purpose in nature; however, indoors mold can cause eye irritation, congestion, and respiratory problems. This indoor problem is also very expensive to fix and is estimated to cost insurers more than $2.5 billion a year.
Studies by Harvard University show between 40 to 50% of homes have moisture and mold problems serious enough to significantly increase respiratory symptoms.
In a Reader’s Digest poll, mold was ranked the 2nd greatest concern for homeowners, more threatening than lead paint and pesticides. According to the EPA, the average home can be 2 to 5 times more polluted than the air outside. They estimate Americans spend approximately 90% of their time indoors.
For better indoor air quality, the most important thing homeowners can do is control indoor moisture and humidity. The trick is to find the right balance. 50% or lower relative humidity is the magic number for optimal comfort.
There are toxic and non-toxic fungi indoors, with a number of those spores neutral from a health perspective and some that are beneficial. Homeowners develop issues with mold when it becomes active and releases spores into the air. If those spores are not captured by your air filter, they will be inhaled and, like ragweed, can cause an allergic reaction. Here are some tips homeowners can take to prevent the “toxic” or at least allergenic fungi.
Experts say that simple home maintenance is the best way to prevent mold from presenting itself in the first place. When excess moisture accumulates indoors and air circulation is reduced, mold problem areas will develop.
Tips on keep mold at bay:
- Fix water leaks as soon as they are detected.
- Keep hard surface floors, counters, and upholstery clean with detergent and dry completely.
- Take steps to prevent condensation from developing around windows, walls, pipes, and floors by adding fiberglass insultation.
- Use dehumidifiers and air conditioners especially in hot, humid climates.
- Use Mold Resistant products.
- Use exhaust fans in bathroom and kitchens to remove moisture to the outside.
Air Conditioning
According to the EPA, the only way to control indoor mold is to control moisture levels in a home. Ventilation and air flow is a critical component in preventing moisture building up, and the best way to control moisture is to insure your AC system filter is changed on a regular basis, every 2-3 months.
Leaving dirty air filters in your heating and cooling system will reduce air flow, resulting in the blower motor to work harder and longer and more energy consumption and an increase in moisture content in your home’s air.
Use quality air filters to help reduce mold in your home.
1. Pleated panel with a metal support grid – This extends the surface area of the filter and allows more contaminants to be captured, resulting in cleaner, fresher air quality. Look for a rust resistant galvanized-dipped metal support that follows the pleats of the filter – this ensure the filter will not buckle when the AC system turns on and off. You also want the filter to be made of high performance synthetic filter media, which will trap moisture as it flows through the air filter, while at the same time provide the right balance of air flow efficiency and filtration.
2. Double-wall framed with moisture-resistant cardboard for structural support – This insures the integrity of the air filter as a critical part of your ac system. Like the metal support grid, this adds another level of support. In addition, the moisture resistant cardboard keeps the walls from getting “wet” as moisture presents in the air, which will prevent the air filter itself from “buckling” (which could lead to costly repairs).
3. MERV 11 Rating: MERV stands for Minimum Efficiency Reporting Value and is a standard for rating the effectiveness of an air filter in removing airborne particulate contaminants. The higher the number the smaller the particles the filter can capture. Don’t be fooled, as some major brand air filter companies have decided in recent years to come up with their own rating system to hide substandard design, filtration, and efficiency. The MERV11 rating is recommended by the EPA to provide the necessary air filtration for good indoor air quality.
Carpeting
- After carpet cleaning, place air movers around the room to help carpets dry faster.
- Turn up HVAC systems as soon as carpet cleaning begins and keep them at elevated levels for two to four hours after cleaning.
- Don’t walk on carpet because this can soil the carpet and it is these organic soils that soon become welcome signs for mold colonies.
- Pay special attention to carpet on concrete floors. Carpet can absorb moisture and serve as a place for mold to grow.
- Do not install carpeting in areas where there may be a perpetual moisture problem in the home.
Raleigh Home - Selling Your Raleigh Home
As just one of the many concerns of being a homeowner, mold should be at the top of the maintenance list. This often undiscovered danger is usually kept in check with some important, yet easy maintenance tips. Waiting until you are ready to sell your home will only cost you more money and heartache when a buyer discovers this problem.
Source: http://www.epa.gov/moldresources.html
Raleigh Real Estate
High inventories of homes for sale have plagued many markets, but in a
recent analysis of metro areas, inventories were found to be shrinking
sharply during the second quarter, The Wall Street Journal reports.
About 2.34 million homes were listed for sale on the multiple-listing
service by the end of June, the lowest level for that time of year since
at least 2007, according to Realtor.com. What s more, some inventory
levels even reached their lowest levels since the housing crisis began
five years ago, which has prompted some markets to even say their facing
a shortage of homes on the market.
While a drop in inventories can often signal more demand — and
ultimately a boost to home prices — some analysts aren t so sure this
signals a complete turnaround for the real estate market quite yet.
While sales are picking up in some cities, analysts say the sharp
decline in inventory also reflects the slow pace at which banks are
processing foreclosures, The Wall Street Journal reports. (The number
of homes in foreclosure — a backlog of 2.1 million — is near a high.)
Also, some sellers are taking their homes off the market due to low
offers and waiting until they put it back on the market.
In its analysis, The Wall Street Journal found that of the 28 major
metro areas evaluated inventory levels had dropped in all 28 — except
for three. What s more, they found that inventories had dropped by
double digits in 16 of those markets during the second quarter when
compared to a year ago. For example, inventories dropped in Miami by 43
percent from a year ago; 30 percent in Washington, D.C.; and more than
20 percent in cities like Charlotte, N.C., Seattle, and San Francisco.
“We’re in a shortage situation,” Brett Barry, a real estate professional
in Phoenix, told The Wall Street Journal. Phoenix has a four-month
supply of homes listed for sale at its current pace. “It’s a very
artificial, ‘Twilight Zone’ kind of feeling, because we know there’s a
lot of homes out there.”
Source: Home Listings Fall But Woes Persist, The Wall Street Journal
Forbes has recently written several articles about Raleigh North Carolina.
* Raleigh is the #1 Best Places for Business and Careers
* Raleigh-Cary area is #3 Cleanest Metropolitan area and has better water.
* Raleigh is #1 on the annual list of Most Wired Cities.
* Raleigh is #1 fastest growing metro area
Forbes is a financial magazine that rates 100 top metropolitan areas on different criteria. Raleigh continually tops the charts because of its affordability, an educated work force, and technology.
Raleigh offers low business costs (18% below the national average) and a highly educated work force (42% have a college degree). Job seekers migration to the Raleigh area is the second highest in the U.S. over the past 5 years.
Raleigh has a broadband penetration of 71%. Residents have ready access to high-speed Internet inside and outside the home.
The presence of tech companies like Cisco Systems, Inc., IBM Corp., Lenovo, and Red Hat, Inc., as well as area universities, create “fertile ground” for high broadband demand and usage. Several mobile providers offer 4G mobile broadband networks around the Raleigh area.
“We’re very lucky to be at the epicenter of a lot of market strengths for these different companies,” says Brooks Raiford, head of the North Carolina Technology Association.
Despite the economic downturn, Raleigh grew by more than 4% in 2010, making it the nation’s fastest growing metro area. It is the third straight year on top of the Forbes annual list of Best Places for Business and Careers.
Businesses are also supported by strong local Chambers of Commerce including the Greater Raleigh Chamber of Commerce, part of who’s job is to bring in new business to the area. A strong selling point is the excellent universities in close proximity.
Affordable real estate and a growing jobs forecast put Raleigh solidly among the metropolitan areas that offer the most “bang for your buck,” according to Forbes Magazine.
According to Moody’s Economy.com, Raleigh is projected to have a gain of 1.4% in employment which would be the 15th best in the country.
Overall, Raleigh is holding up better than any other place in North Carolina and companies are still relocating to the area.
Raleigh Real Estate Market Update
The National Association of Realtors (NAR) reports that the homeownership rate has shifted from 69% to 66.5% in 2011. With all the recent market upheaval, many homeowners are being forced to either become renters or landlords.
Homeownership means you can paint your bedroom any color you want without asking permission. If you aren’t a homeowner already, the affordability index is up 4.3% over last May 2010 and +5% year to date.
New Listings in the Triangle decreased 7.7% to 3,475. Pending Sales were up 21.0% to 1,997 over last May 2010. Inventory levels shrank 10.2% to 18,008 but there are still plenty of great choices out there for homebuyers.
Prices were more or less stable. The Median Sales Price increased 1.8% to $189,000. Days on Market (an indication of how long it takes to sell) increased 26.4% to 126 days. The rate of inventory absorption slowed as Months Supply of Inventory was up 19.9% to 11.9 months. This means it takes longer to sell a house than it did in 2010. Homeowners are receiving contracts 91.9% below their original listing price but the Average Sales Price is steady at $220,054 – +0.1% year to day 2011.
Nationally, the interest rate dropped to 4.88% on a 30-year fixed conventional while the unemployment rate snuck up to 9.1% in May. The economy added 54,000 jobs, which was far less than April and insufficient to curb unemployment.
As far as recovery goes, we’re seeing positive trends in our local market. Stronger job growth is needed to fuel housing demand and reinforce consumer confidence.
Raleigh Real Estate Market Update for May 2011 by Hometowne Realty
Raleigh Real Estate
It is not good business to waive a home inspection on a newly constructed house, regardless of how conscientious and reputable your Raleigh Home Builder is.
No home, regardless of how well it is constructed, is totally free of defects. The construction of a house involves thousands of details, performed at the hands of scores of individuals. No general contractor can possibly oversee every one of these elements, and the very nature of human fallibility dictates that some mistakes and oversights will occur, even when the most talented and best-intentioned tradespeople are involved.
You might be saying that your builder is providing a one year warranty with the purchase of the home so why spend the money up front for a home inspection. This is true that you can waive a home inspection upfront and if you find any problems during that first year, contact the builder for repairs.
Questions for you, do you plan on climbing in the attic area, crawling under the house, are you familiar with wiring, plumbing, and the HVAC system? If you are, then definitely waive the home inspection. But if your answer isn’t yes, you might want an experienced professional crawl around the house for you.
It’s also easier to give the builder a professional home inspection report and say “fix it” than hand-writing on a piece of paper your findings. The builder is less likely to argue with a home inspection than with what the homeowner wants fixed.
Ultimately the home inspection is up to you and the cost comes directly out of your pocket. You have to decide if the cost outweighs the many benefits of paying a professional.