Real Estate Information

Fast Fixes For Foreclosed Homes

 (ARA) - The high volume of foreclosed homes on the market is allowing some astute buyers to turn eyesores into eye-catching properties with only minimal investment. While not every property can be fixed up affordably, there are some common projects that dramatically improve a foreclosed home's appeal and value.

"Many people are finding huge opportunities in fixing up foreclosures," says Tom Sullivan, founder of Lumber Liquidators, the nation's largest specialty retailer of hardwood flooring. "Most of these houses can be completely transformed with just a few improvements. Often, the fixes are easy enough to be do-it-yourself projects."

Here are some popular cost-effective options for breathing new life into a home in need.

Add new countertops.
The kitchen is one of the most important rooms in any home, since it is a space where people spend a lot of time - from cooking dinner to entertaining friends. One of the most dramatic changes that can be made to a kitchen is adding new countertops. It alters the appearance of the space by changing the color scheme, depth and texture of the whole room.

Countertops range in price depending on room size, type of material and mode of installation. In an average kitchen, a new laminate countertop starts at around $1,000, with granite or quartz ranging from $3,000 to $6,000. Butcher-block countertops are another attractive, yet cost-effective option. Williamsburg Butcher Block Company offers options in both maple and American cherry starting around $310.

Replace the bathtub.
Foreclosed houses frequently come with water stains left by standing water in sinks, toilets and bathtubs. Updating a bathroom by installing a new bathtub not only removes the problem, but, because the tub is a core item, it creates a more pleasant feeling in the room. Bathtubs are available in many different styles and sizes, so there is likely to be one that suits any taste, from traditional to contemporary. Bathtubs start at around $300, depending on the size and style.

Trade carpeting for new wood flooring.
Foreclosed houses are frequently abandoned with soiled carpet that continues to gather buildup over time. Mold is also common in homes that have been left bare for extended periods. To get rid of hidden odors, allergens, irritants and mold, replace carpet with wood, particularly in high-traffic areas such as living rooms and great rooms.

In addition to reviving these common areas, swapping carpet for wood adds style and creates a more spacious feel. The choice of wood can also make a big difference. Light wood colors can make a room appear larger, medium-toned woods can make a room appear more traditional and dark flooring can make a room appear warmer.

"The introduction of so many new species, colors and types of wood flooring in recent years gives homeowners a lot of options when renovating a room at different price points," says Sullivan.

Laminate flooring can deliver the appearance of solid hardwoods, but costs less than $1 per square foot at places like Lumber Liquidators. This allows budget do-it-yourselfers the ability to transform a 400-square-foot area for as little as $750.

In addition to making a foreclosed home look new again, completing these easy and affordable updates can go a long way in restoring the value of the property when it comes time to sell.

Courtesy of ARAcontent

Brought To You By Randy Charlton with Keller Williams Realty

I've received quite a few emails lately regarding the Homebuyer Tax Credit that expires on April 30th of this year. People are wondering the exact details of the program and if they qualify for the credit.

I figured the best way to answer these questions was to post a flyer explaining the basic details of the program. Remember, this program applies to first-time homebuyers, as well as, move-up buyers.

As always, please consult with your tax professional to confirm eligibility.
Click on the link below for a copy of the flyer.

Homebuyer Tax Credit Information Flyer

Brought to you by Randy Charlton of Century 21 Home Realty.

Current Mortgage Rates As Of Today: 30 Year Fixed Rate Is 4.84%.

Brought to you by Randy Charlton of Century 21 Home Realtors.

The real estate market is always changing and the current market update is a great tool to see what is happening in your exact area or in areas you are interested in.  I have included a link for the market update for December 2009 as compared to December 2008. 

As usual, the market can vary according to city, and zip code, so call me for up to the minute information. 

To view the update click the link below.

The San Bernardino County Market Update for December 2009.

Brought to you by Randy Charlton of Century 21 Home Realtors.

I have received many questions about the current housing market and whether or not the home prices will decline further, level off, or increase.  I came across this current article titled "Double Dip In Home Prices Threatens One In Five Markets" about the home prices nationally. 

Click Here To Read The Article.

The market is different for different areas, so contact me for up to the minute information for your exact area.

Brought to you by Randy Charlton of Century 21 Home Realtors.

Most people want to enjoy their pools, not spend time maintaining them. And with today’s busy schedules, it’s easier than ever to make mistakes, like running pool equipment too long or letting the water go green - and not in the ecofriendly sense.

But automating pool functions can save up to 75% of a pool’s annual energy costs, while also reducing chemical use and maintenance time. Pool owners can customize pool functions to their schedule. For example, someone may set their pool’s filter pump to run longer or more often on weekends, when the pool experiences heavier use.

The pool experts at Hayward offer the following tips for Americans looking to enjoy their pools with minimum effort and maximum savings.

Replace your pool’s filter pump. A pool pump may be your home’s second or third largest energy consumer after air conditioning units. But a multispeed, energy-efficient pump can save up to 75% on your pool operating costs.

Owners can further reduce energy consumption by setting each action’s time, speed and duration, or setting the pump to work during off-hours.  Use a robotic cleaner.A robotic cleaner can quickly pay for itself, saving up to 94% of the energy used by a pressure cleaner and booster pump.

Are you still flipping switches? Save energy by managing your pool and spa functions with automation. Program and control functions such as your multispeed filter pump, booster pump, pool/spa lights, heater or pool cleaner.

Brought to you by Randy Charlton of Century 21 Home Realtors.

Consumers making substantial home renovations can receive a tidy tax credit from Uncle Sam if they shop and buy carefully. The American Recovery and Reinvestment Act of 2009 allows home owners to receive tax credits when they improve the energy-efficiency of their home.

Tax credits are different from tax deductions.  A tax credit is figured after you determine your tax bracket and how much you should owe in taxes.  A tax deduction reduces how much you owe in taxes by decreasing your taxable income.  The amount of a tax credit is the same for everyone, while tax deductions are not.

To receive the tax credits, homeowners should make sure their improvements adhere to the IRS guidelines:

 - Must be “placed in service” from Jan. 1, 2009 through Dec. 31, 2010.
 
 - Must be for taxpayer’s principal residence, except for geothermal heat pumps, solar water heaters, solar panels, and small wind energy systems (where second homes and rentals qualify).  $1,500 is the maximum total amount that can be claimed for all products placed in service in 2009 and 2010 for most home improvements, except for geothermal heat pumps, solar water heaters, solar panels, fuel cells, and small wind energy systems, which are not subject to this cap, and are in effect through 2016.

 - Must have a “Manufacturer Certification Statement” to qualify.  For record keeping, save your receipts and the Manufacturer Certification Statement.  Improvements made in 2009 will be claimed on your 2009 taxes (filed by April 15, 2010) - use IRS Tax Form 5695 (2009 version) - it will be available late 2009 or early 2010.

Brought to you by Randy Charlton of Century 21 Home Realtors.

INSPIRATION FOR TODAY:
"Two roads diverged in a wood, and I -
I took the one less traveled by,
and that has made all the difference."
~ Robert Frost

FORGET THE LEADER!

On the playground of any school, and on any day, you can witness examples of children playing "follow the leader." One hops, skips, or jumps, and all the others follow. As adults, however, many of those children play a variation of that game - called "follow the follower."

On the job, they look around, see how someone else is doing their work, and duplicate the effort. What they don't realize is that their fellow employee is also watching someone else. A circular game of "follow the follower" evolves, resulting in a mediocre work force. The same can be true in marriages, education, hobbies, and sports.

Consider the story of a telephone operator in a small town. Every day she received a call from a gentleman asking for the correct time. Finally, one day, she asked the mystery caller who he was and why he called every day. His answer? "I'm the one who blows the whistle at the factory each day at noon. I like to be right on time!" The operator laughed and then responded, "Here at the telephone company, we set our watches and clocks by the noon whistle at the factory!"

Tired of playing follow the follower? Want to rejuvenate your life? Begin acting like the unique person you already are. See what everyone else is doing . . . and do something different. Strike out in the direction of your own imagination instead of theirs.

In the words of Henry David Thoreau, "Go confidently in the direction of your dreams. Live the life you've imagined."

Brought to you by Randy Charlton of Century 21 Home Realtors.

"A man's reputation is the opinion people have of him;
his character is what he really is."
- Jack Miner, conservationist (1865-1944)

How's Your Credit?

Ever hear someone say, "I have good credit"? They are probably referring to their credit "rating" - a score bestowed upon them by creditors, banks or rating agencies. Simply stating, "I have good credit" changes nothing, nor does the statement merit the attention of creditors. Credit can only be given by others for service to them, i.e. paying them on time.

So, credit is the result of serving others - in many ways. You cannot claim education, victory, experience, success, reputation, or a suave demeanor. Each of these is a gift from others, as a result of your service to them. Friends recognize your courage as a result of your being cool under pressure. Your success is recognized by others only once you have served them well. Knowledge of your career field is recognized by others only after it's been applied to situations in the form of more service.

In the accounting world of income and expense, a debit is something paid out, while a credit is something received. Thus all credits are received from others - not by our own making. The debits - what we pay out - are our efforts, persistence, and service. How they are rated is not under our control, but is determined by those served.

Without service, there are few rewards. Yet, you've seen those who insist on getting more attention than they deserve. They feel they're being short-changed, that they are not appreciated, that they are always the victim. If you look more closely at their contributions, you are also likely to see the dearth of service they are offering.

With service, credit follows. It may be subtle or quite visible - but it always follows. Concentrate on what you have to offer and forget the rewards. Those who are served will pick up the tab.

Brought to you by Randy Charlton of Century 21 Home Realtors.

As expected, the National Association of Realtors (NAR) reported a decline in existing home sales at the end of 2009, as first time buyers rushed to beat the tax credit deadline and close their transactions by November 30. Although Existing home sales fell by 16.7 percent in December, sales remained brisk enough to break the 5 million unit mark, bringing total the number of existing homes sales up to 5,156,000 for all of 2009. The 2009 sales figures were almost 5 percent higher than the year before, creating first year-over-year sales gain since 2005.

Chief NAR economist Lawrence Yun remains cautiously optimistic about the national housing market. "It’s significant that home sales remain above year-ago levels, but the market is going through a period of swings driven by the tax credit," he said. 'We’ll likely have another surge in the spring as home buyers take advantage of the extended and expanded tax credit. By early summer the overall market should benefit from more balanced inventory, and sales are on track to rise again in 2010. However, the job market remains a concern and could dampen the housing recovery – job creation is key to a continued recovery in the second half of the year."

Brought to you by Randy Charlton of Century 21 Home Realtors.