Ed Powers, Author at Ed Powers Real Estate - Fort Collins, CO - Loveland, CO

June 8, 2020June 8, 2020

Things You Can Do to Prepare for a Home Appraisal

Getting your Fort Collins or Loveland home appraised is a necessary step in putting it on the market and the appraisal will influence your asking price. This means you want your home in its best possible condition, so it will be appraised at the highest potential value. While undertaking massive renovations may not be an effective process, there are smaller things you can do to raise the market value of your home.

Start Small with a Little Spackle

If you’ve lived in your home for any length of time, you’ve probably hung things on the walls, put up shelves, or simply had accidents that resulted in minor damage. Now is the time to repair those blemishes. By filling these holes and crevices with a little spackle and painting over the area, you can leave your walls looking like new. While this may not boost the value of your home, it will keep the appraiser from deducting for the damage.

As Long as You’re Painting…

After you’ve touched up your walls, you might want to consider freshening up the paint in other areas. For instance repainting worn borders and moldings around the home can give it a newer look. Additionally, take the paint outside and touch up the trim around the windows and doors. This will boost curb appeal and help you add value to the home. Any area where the paint is peeling, chipping, or simply has lost its luster should be retouched with a fresh coat.

Update Your Crawl Spaces

Something that’s receiving more attention in home updates is crawl space encapsulation. Crawl spaces are essential for providing homeowners and contractors with access to the deepest recesses of the home. However, these spaces are vulnerable to moisture and water damage caused by humidity, warmer temperatures, and harsh weather conditions. To protect crawl spaces, homeowners have started encapsulating, or sealing, the spaces in moisture-resistant materials. Similar to a swimming pool liner, a polyethylene barrier is added to keep the crawl space dry.

Do a Deep Clean

This is also the time to really clean your home from top to bottom. Especially if you have young children and pets, there may be odors and damage that you might not be noticeable to you. Yet, a strong pet odor, or your child’s scuff marks on a hard wood floor will be the first things your appraiser notices. Consider hiring a professional cleaning crew to wax the floors, shampoo the carpets, and conduct an intensive cleaning of the entire home.

Conduct Other Repairs

At some point, you should tour your home with the mindset of a home buyer. This will open your eyes to problems that you live with every day, and just don’t notice anymore. Look for things that need to be repaired, such as a loose handrail, dripping faucet, or shorted electrical outlet. Repairing these problems ahead of time will ensure you won’t lose money on the appraisal.

Get an Early Home Inspection

Even after you think you have done everything that can be done to boost your home’s appraised value, consulting an expert is wise. Getting a home inspection at this time will help you uncover issues that you may not have the expertise to notice. This gives you the time to get these items fixed ahead of putting the home on the market, while also ensuring you can ask a more competitive selling price. It’s better to uncover these problems now than to have them affect the sale of the home in the future.

In selling your home, you want to ensure you get close to its value, including the money and time you invested in updating its features. By taking the time to spruce up the home ahead of the appraisal, you may be able to increase the value by thousands of dollars. The suggestions offered here can give you a start, and your real estate agent may be able to offer more tips to help you get the most out of your home.

Message me if your thinking about selling your Fort Collins or Loveland home at m.me/EdPowersRealEstate

Ed Powers Real Estate 970-690-3113 [email protected] www.EdPowersRealEstate.com

June 1, 2020June 1, 2020

Ed Powers Real Estate June 2020 Newsletter

Get the latest news in the June 2020 Ed Powers Newsletter Real Estate Update

For the complete June 2020 Newsletter Click here

Newsletter Content Index:

Should I Sell Now?

The pandemic has put the world on pause. Should you put your real estate plans on pause, too?
      This article reaches a sizable online audience, so there’s not just one answer to this question. In direct conversation with you—one-on-one—this question could be answered with specific reference to your location, property, finances, and desired outcomes, but there would still not only be one answer to this question.
      Real estate, by its nature and its tremendous location-driven diversity, makes that question open-ended, with many possible answers:
      • Each option has many perspectives.
• Each property is is unique.
• The reasons homeowners love, or are ready to leave, their real estate are unique, too.
      The greatest challenge can be uncovering and CONTINUED >>>

Credit and Coronavirus: What You Need to Know

If you’re one of the thousands of homeowners who is struggling to pay your mortgage and bills right now, safeguarding your credit probably isn’t high on your must-do list. But if you want to make sure your credit stays good—or even improves—despite any economic difficulties, read on for some important updates and tips.
Government safeguarding credit? There have already been steps taken to safeguard credit for those who enter into a forbearance program. Typically, “Payments that are skipped or only partially paid during a mortgage forbearance period technically violate the original terms of your mortgage loan agreement, so even though your lender agrees to the forbearance plan, they may report your payments as delinquent to the CONTINUED >>>

Are You Ready to Divorce Your House After the Quarantine?

A number of things have happened during this unprecedented time:
      People have had more time to spend together. They’ve also spent that time at home.
      All that time together has not necessarily helped some relationships. Perhaps not surprisingly, the divorce rate is skyrocketing in countries like China, and now it’s been reported that, “Cooped-up New Yorkers are flooding lawyer phone lines with divorce inquiries — with an avalanche of filings expected once the courts re-open,” said the New York Post.
      But it’s our relationship with our homes that may be the most stressed. A home may function perfectly fine when you’re only there a few hours a day, but this quarantine has shined a light on many a flaw. Here’s how to tell if you’re just done or if your relationship with your house can recover.
It’s not something a CONTINUED >>>

Tele-Maintenance: The Newest Thing in Virtual Service

Medical appointments have gone virtual. Zoom has all but replaced workplace meetings. And now, there’s a new can’t-live-without-it, at-home service we’re loving. Hippo Home Care is now offering free tele-maintenance to help owners keep their home functioning while we’re all hunkered down.
      “Using our free tele-maintenance service, you can talk directly with a Home Pro whenever you have questions or issues around your home,” said Hippo. “We can help. Schedule a complimentary virtual ‘house call’ with a Hippo Home Care Pro who can help you with home maintenance by phone or video.”
      The company has completely shifted to a virtual model for the time being as a service to customers who might not be comfortable having strangers in their house during the pandemic. Customers can schedule a Virtual House Call to troubleshoot specific issues and also use the tele-maintenance service for a complimentary guided Hippo Home Care Home Checkup. “Think of it like getting a car tune-up or a physical, only this one is for your house,” they said.
      The free
CONTINUED >>>

Daily News and Advice

Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.

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	Forbearance News: Borrowers Can Now Defer Payments Until The End Of Their Loan
	Could The Corona Virus Provide The Next Boon For Private Mortgage Lending?
	The Things That Matter The Most In Your Credit Report
	5 Outdoor Projects for a Beautiful and Fun Homecation Space

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May 29, 2020May 29, 2020

Stock Tank Pools: Hot Trend For Summer

We’ve all been stuck at home, it’s starting to get hot, and school—at least in its current form—is almost out. That probably means one thing: You’re starting to think about what summer fun might look like this year.

For many of us, summer means pools time. But if you live in an area where you depend on being able to use a community pool or recreation center, that might be questionable at this time. And building a pool is so expensive and time-consuming.

That’s why we’re loving stock tank pools right now.

What is a stock tank pool?

“Here’s an idea: Instead of dropping a ton of cash just to stay cool for a few hours at a time this summer, you may want to consider the humble, yet far more affordable, galvanized stock tank swimming pool (also known as a ‘water trough pool’),”said Country Living. “These inexpensive farm staples were originally designed as water troughs for livestock, it’s true. But that’s part of their country-chic appeal. Nowadays, stock tank swimming pools have been popping up in backyards across the country.”

Whatever stigma still remains around traditional above-ground pools, stock tank pools have managed to sidestep it by embracing their farmhouse cache. It’s not lost on us that you can order your stock tank from a tractor supply—if you can even find one.

Here’s how to make a splash with a stock tank pool in your own backyard.

Pick your size

You can find common galvanized stock tanks with a round, 10-foot diameter size, but they’re hard to come by. More common are eight-foot versions, but, as their popularity grows, they’re also challenging to secure.

There are also six-foot tanks and oval options, but they don’t necessarily provide the same kind of swimming experience.

Pick your spot

Where you’re going to put your stock tank pool is just as important as the pool itself. Without a level foundation, you’ll have leaks.

“Job one is obviously selecting the site for your stock tank pool. You’ll need to prepare the area by creating a solid, level base,” said Tractor Supply. “You could use compacted sand, or even crushed granite. But, it’s very important to ensure that it’s a smooth surface, free of any rocks or sharp edges. The same is true whether you plan to use the stock tank for an above-ground pool, or want to dig out enough soil to create an in-ground version. If digging a hole for an in-ground pool, remember to allow enough space behind the pool to accommodate the pump and hoses.”

Add your accessories

And by accessories, we mean two things: design and function.

First, let’s talk about function. A stock tank pool isn’t as easy to set up as a kiddie pool. You could just fill it with water and call it a day, but you’ll end up swimming in gunk. And standing water can also attract mosquitos, which is probably not one of your goals.

Take a cue from the Hey Wanderer blog, which can walk you through the pump and the chlorine and all the supplies you’ll need and steps you’ll want to take to get the pool up and running.

Now that you’ve got your stock tank set up, it’s time to make it fancy. While the tank alone has its own distinct vibe, it can be dressed up in any number of ways.

Paint the metal, build deck seating around it, hang lights and incorporate tikis to create a tropical getaway feel—the sky’s the limit. We love this rattan surround, which gives you bench seating and a shelf to hold your drinks! We’re into the whole setup here with the umbrella, and lights mounted on the fence. When we get our pool, we’re definitely stealing this bamboo idea. Encased in stone with multiple fountains shooting across? Yes, please!

May 26, 2020May 26, 2020

Closing Costs

When preparing to buy a Fort Collins or Loveland home, financing is typically in order. And for those shopping for their best mortgage deal, the two most asked-about questions concern the interest rate and closing costs. Sure, there are certainly other considerations but these two get mentioned more often than others. One lender can have a slightly lower rate, but the lender’s closing costs are a bit higher compared to others. Conversely, a lender offering slightly higher rates might have not just lower closing costs but might also offer a “no closing cost” option in exchange for an elevated rate. These are the things you and your loan officer will discuss.

While the rate is very important, after all it determines what your monthly payments will be well into the future, so too are closing costs. And consumers can make the wrong decision by not paying as much attention to how much a loan actually costs. A lender can provide you with a cost estimate either over the phone or by sending you a sample Loan Estimate. This estimate will highlight a list of closing costs you’re likely to see at your settlement. Your loan officer will also point out which costs are lender costs, and which are reserved for third party services.

Of these, there are recurring and non-recurring charges. Recurring charges are those you’ll see again, either every month or every year. For example, each time you make a mortgage payment, a portion goes directly toward the outstanding loan balance while another goes toward interest. Interest is a cost and it will be paid every month. That makes it a recurring cost. Property taxes and property insurance is another type of recurring cost. Non-recurring charges are one time fees paid at the settlement table. Title insurance, attorney and other one-time costs are non-recurring.

Okay, so when shopping around for a mortgage you want to know where rates are, but you should also ask about the lender fees. Third party charges shouldn’t vary from one lender to the next. An attorney will charge the same amount for a similar transaction, for example. It’s the lender charges that can be different from one lender to the next. What sort of fees does the lender have control over?

Common lender fees might be a Loan Processing fee. A loan processing fee helps to cover the overhead needed when moving a loan file through the approval process. The individual lender decides whether or not to charge such a fee as well as how much that fee will be. Another common lender charge is an Underwriting fee. This fee goes to offset the cost for making sure the loan file meets all the guidelines for the selected mortgage program. Again, the lender decides whether or not to charge the fee and if so, how much. Other lender fees collected might actually go to others such as a credit report fee or funds to pay for an appraisal.

It’s just as important to evaluate the cost of the loan from the lender’s perspective. A lender might have a rate 0.125% lower than another but charge $500 in closing costs. Loan officers know that when quoting a rate to a prospective borrower, the rate will be the most important factor. However, many consumers ignore the other part of the equation. To complicate matters more, the Loan Estimate can be very difficult to discern. Loan officers send them out daily, but they can look a little complicated to the consumer at first glance.

The takeaway? Get your rate quoted but also ask for a list of lender-required charges. The other fees the lender has no control over.

Message me if your thinking about buying a Fort Collins or Loveland home at m.me/EdPowersRealEstate

Ed Powers Real Estate 970-690-3113 [email protected] www.EdPowersRealEstate.com

May 21, 2020May 27, 2020

Tips to Save in Your Kitchen Remodel

The kitchen is the hub of the household. It is where the family gathers daily to socialize and create delicious cuisine. Without a doubt, the kitchen is also one of the most important rooms to remodel to potentially increase the value of your home. In fact, a home that has undergone a kitchen remodel sells8% faster, according to realtor.com studies.

Historically, the kitchen was once hidden away from the main house for several reasons, such as to reduce excessive heat and to control smells. Nowadays that is no longer the case. The kitchen has made its debut as an integral part of the home and perhaps the most important room, which is why many homeowners are looking to upgrade the space. In this article, we will explore tips to save in your kitchen remodel.

Top Ways to Save in Your Kitchen Remodel

The average cost of a kitchen remodel in the United States is between $8,500 to $25,000. The figure might seem a bit wide-ranging, but if you are looking for ways to pinch your pennies, then rest-assured that with frugal decisions, you can cut costs to keep the total amount in the lower end of the spectrum.

Choose mid-range efficient appliances

Sure, it is tempting to pick only high-end appliances for your kitchen, but such high-dollar items are usually unnecessary. You can choose practical, energy-efficient appliances that boast acceptable warranties and look fabulous.

A factor to consider when picking appliances is longevity. Refrigerators usually last only 15 years or less but a cooktop and range function last considerably longer. Also, if you have a large family then you are constantly washing dishes, so a large, efficient dishwasher becomes a mandatory investment.

Whichever appliances you choose, try to stick with one brand and appearance. Stainless steel remains the most popular finish choice. If you want your home to appear modern, then you will want to pay close attention to design and appearance while still trying to avoid paying premium prices. Instead, settle for moderate workhorse appliances that provide you with looks, function, energy-efficiency, and longevity.

Opt for affordable yet durable counter materials

When you walk into a kitchen, you might believe your focal point is the cabinets but most people zero in on the countertops first. Perhaps it is the clean, sleek design or the sparkle of the surface. A showpiece countertop dictates the cabinetry, room furnishings, and color scheme.

When picking countertop materials, remember you can pick granite with a rating of a level 2 grade (mid-grade) versus a level 3 (premium grade). The differences are subtle and usually missed by a novice who does not work in the granite business. Choosing a lovely, mid-grade granite countertop offers a greater return-on-investment. The cost of granite countertops runs from $35 to $500/sq. ft.

Laminate countertops are another option. They mimic the appearance of granite without the high cost. Historically, you could not install an under-mount sink in a laminate countertop, but designs have changed and now you can. Laminate hovers at an affordable $5 to $30/sq. ft.

Quartz (an engineered stone) and concrete countertops are other cost-saving options. The average cost of quartz is $55 to $200/sq. ft. and concrete runs $75 to $200/sq. ft.

Resurfacing an older countertop with tile is another option. This project typically costs around $10 to $70/sq. ft.

Go for a cosmetic upgrade instead of a whole cabinet replacement

It’s tempting to purchase all new cabinets for the kitchen but that can become expensive with 30 linear feet of average cabinets costing from $6,412 to $11,400 for installation. However, resurfacing the existing cabinets is a great way to provide an instant facelift to the room. Many opt to carry out refinishing cabinets as a DIY project to save even more.

You can also replace kitchen cabinets with veneer models instead of real wood. Budget cabinets range from $70 to $100 per linear foot. Handles, knobs, and pull are the crowning glory on your kitchen cabinets. However, that does not mean that you must spend a fortune on the hardware. Knobs can range from $1 to $100 and hinges from $1 to $15. There is a huge range of prices so you can find your comfort zone within your budget.

Install a backsplash with attractive, long-lasting materials

Backsplashes look good and showcase not only the kitchen cabinets but also the countertops. There are a lot of different backsplash materials you can choose to create your perfect backsplash, but they aren’t all created equally. Depending on how much cooking you do, you’ll want to find a material that’s durable, stylish, and long-lasting.

Ceramic tile is very popular but it’s also costly, with the average price hovering at $5 to $100/sq. ft. However, you can pick a porcelain tile for $5 to $20/sq. ft. Also, why not cut costs by using large tiles that would usually be laid on floors as a backsplash? The bigger tiles require less grout and costly cutting. Deco-pieces like glass tiles are easy to fashion into eye-catching mosaics.

Plan ahead by shopping around and doing some work yourself

Feel out your contractor’s schedule and get him at a slower time of year. Typically the middle of summer and the middle of winter are a little slower and could get you a better rate.

Next, check your local tile, stone, flooring, and bathroom fitting showrooms for odd lots. Odd lots are often left over or returned items. They’re just as good quality, but they go for rock bottom prices. The only catch is that what you see is what you get, so if you need 150 square feet of something, and they have 140, it won’t work. But, many times you can get lucky and find a thousand feet of something discontinued that you can get for pennies. This also goes for sinks and faucets – it really pays to check around, especially if you aren’t picky.

If you need a small piece of stone for a vanity top, bar top, or table, also be sure to ask about remnants at the stone yard.

Final thoughts

Yes, you can create the kitchen of your dreams on a shoestring budget with just a few of the ideas above. These tips to save in your kitchen remodel help you create an upscale remodel without spending an excessive amount of money. You can enjoy your beautiful kitchen while feeling good about the fact that you have potentially increased the value of your home, which is a great return on your real estate investment.

Message me if your thinking about selling your Fort Collins or Loveland home at m.me/EdPowersRealEstate