Monthly Archives: April 2015

ACCEPTABILITY OF Investment capital Consequences

ACCEPTABILITY OF Investment capital Consequences

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Curb appeal is one of the most important factors in selling a home

03/27/2015

Curb appeal is one of the most important factors in selling a home, and one of the most difficult to quantify, but one thing is certain — homes sell for more money when they have it. It’s common knowledge that drive-up first impressions count. Buyers want to be charmed and excited about a property as a whole. A clean, tidy front yard, front walk swept of leaves and snow, pavers laid safely and evenly, and an attractive frame of landscaping set the tone for a positive buyer experience. On closer inspection, buyers can see that the trim has been freshly painted and that you’ve put out a cheery new welcome mat by the front door. So how much more work do you need to do to win buyers over?

Since 2003, replacement costs have generated more value at resale than remodeling, according to the latest Remodeling Magazine 2014 Cost vs. Value report. That’s good news for sellers who want to ramp up their home’s curb appeal. In fact, the five projects with the best cost to value ratios were all directly related to curb appeal: Midrange roofing replacement rose 5.9% over last year, while midrange garage door replacement was up 5.6%. The 20-gauge steel replacement entry door was up 5.4% and vinyl siding replacement rose 3.2%. In the upscale category, the fiberglass replacement entry door was up 1.7%.

Exterior projects such as these are crucial to any home’s integrity, says the National Association of Realtors® (NAR.) “These projects also do not require expensive materials and they have the added bonus of instantly adding curb appeal,” says the trade organization.

The quality of materials may also make a difference in resale. For example, a wood deck addition returns 80.5 percent of costs, while a composite deck addition returns only 68.0 percent. A steel entry door returns 101.8 percent of its cost, while a fiberglass replacement door returns only 72 percent of its cost. While it may seem counterintuitive to pay $100 and only get $72 back at resale, updating is the best way to help a property maintain its appeal to future homebuyers.

“Resale value is just one factor among many that homeowners need to take into account when making a decision to remodel,” advises the NAR. “The desirability and resale value of particular remodeling projects also varies by region and metropolitan area.”

If you’re planning to update your home for resale, ask us for guidance. I can tell you which improvement projects will provide the most upon resale in the Southern California Market.

Los Feliz Silver Lake

MegaTrends 2015

If you’d like to update your home with some of these megatrends, here are some great tips and ideas. And the bonus? These are not only already available in stores but they’re sure to be fashionable for some time to come.

Oversized geometrics
Classic geometric shapes are a long-standing favorite for adding touches of sleek sophistication to any room. But blown up to a larger scale, those same shapes suddenly create major drama and grandeur in your space.
The trick to using oversized geometrics well is to choose just one large-scale pattern per room to make an elegant, unexpected statement. Geometric wall-coverings or artwork, patterned upholstery, or carpet with interlocking designs are a few favorites.

Chinoiserie

This term made its way into our design vocabulary during the 1800s when Europeans went wild for Chinese-inspired design. A megatrend today, the latest evolution of chinoiserie includes fanciful imagery, lacquered surfaces (often very colorful), and iconic shapes.

If you’re thinking about bringing a little of the Far East into your home, try a glazed lacquer tray or a Greek key throw. Both will merge beautifully with your current décor to create a whole new look.

Metallics

Metallics instantly bring glamour and a bit of shine to a room. Casual and modern or elaborate and ornate, metallics brighten and open up the darkest and tiniest of spaces.

To add a little sparkle, look for light fixtures and accessories that feel like vintage finds. Antiqued finishes and mercury glass accents are especially popular. And don’t forget that even small metallic touches make a big impact.

Lucite

Finally, if you want to modernize your space, Lucite is a great choice and never goes out of style. Whether you choose a Lucite chair, lamp, vase, or tray, it’s surprising how a single item can transform a room.

Experiment with pairing your new Lucite piece with unexpected elements like wood and metal to create a stunning focal point. The potential combinations are endless.

Chinoiserie, Lucite, oversized geometrics, metallics … these megatrends provide a marvelous assortment of possibilities. Possibilities so stunning, in fact, that you don’t have to redecorate an entire room to update it. Just a few accents can bring these megatrends to life in your own home and create a fresh, stylish new look.

Silver Lake/ Los Feliz

California Real Estate Sees Improvement in February

Despite many promising factors leading in to 2015, the market got off to a relatively slow start to begin the year. Though the winter months are typically considered an “off season” for brokers and agents around the nation, there were still many who had hoped that the record low interest rates and slowing home appreciation would be enough to drive sales forward – I was one of them. This clearly wasn’t the case in January, when sales throughout California and most of the nation dropped from the month before, but not all hope should be lost. New research from the California Association of Realtors has found that existing home sales increased across California in February – likely a result of slowing home appreciation and increasing inventory, and the latest indicator of a stronger market ahead.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 368,160 units in February, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. Sales in February were up 4.7 percent from a revised 351,480 in January and up 2.4 percent from a revised 359,600 in February 2014. The year-over-year increase was the largest observed since December 2012. The statewide sales figure represents what would be the total number of homes sold during 2015 if sales maintained the February pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

“While February’s statewide improvement in the housing market was moderate, it’s an encouraging sign, nevertheless, as we head into the spring home-buying season,” said C.A.R. President Chris Kutzkey. “On the supply side, housing inventory improved overall with active listings growing at a faster pace of 5.3 percent when compared to last February. Regionally, both active listings in Southern California and Central Valley increased moderately from last year, while housing supply declined 10 percent in the Bay Area.”

The median price of an existing, single-family detached California home was essentially flat from January’s median price, inching up from $426,660 in January to $428,970 in February. February’s median price was 5.5 percent higher than the revised $406,460 recorded in February 2014. While the statewide median home price is higher than a year ago, the rate of increase has narrowed significantly since early 2014. The median sales price is the point at which half of homes sold for more and half sold for less; it is influenced by the types of homes selling as well as a general change in values.

“The California housing market regained some traction in February as sales activity improved on a year-over-year basis for the second time in three months,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “At the state level, the market is moving in the right direction as the growth of sales continues its upward trend and home prices start stabilizing. At the regional level, however, the San Francisco Bay Area continued to be hampered by constrained inventory and low housing affordability.”

Silver Lake Los Feliz

Deciding on option of development

Deciding on option of development

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