Archives for posts with tag: real estate

7 Spring Fixes to Boost Your Home’s Value
Yahoo!Finance

At this time of year, many people dive into their spring cleaning. But this is also the perfect time to tackle home improvements tasks you put off during the cold winter weather. There are lots of relatively simple and affordable things you can do to give your home a spring facelift. Your house will look better and your family will feel happier in it. As a bonus, you will also boost your home’s value at the same time.

1. Add the Perfect Touch with Paint

“A fresh coat of light pain on the interior walls can work wonders,” says Kelly O’Ryan of Coldwell Banker in Lexington, Massachusetts. “Paint will always clean up dirty walls and give a room a better image.”

Although dark colors can be stylish, O’Ryan advises going for lighter shades to brighten things up in warmer seasons. Karol Nickell, editor-in-chief of Fresh Home magazine, offers this advice: “Smart color selections can make a small or cramped room appear dramatically larger. In the foyer, make a good first impression with similar tones mixed at different strengths. In the living room, a bold color paired with a white ceiling makes the room seem taller than it really is.”

2. Focus on the Flooring

Good, well-maintained flooring can set a positive tone for the entire interior of your home. Take proactive steps to protect your biggest investment.

“Like paint, flooring can help create an impression of spaciousness and airiness,” Nickell says. “Whether it’s a floating laminate floor, tile or a natural ‘green’ alternative, lighter-tone flooring can make formerly drab areas appear modern and streamlined.”

3. Lighten Up the Accents

“Spring is a great time to change your window treatments and area rugs,” O’Ryan says. “Once again, dark colors are associated with winter months; a lighter airy curtain will give any room a brighter and more pleasant appearance. If your floors are in great shape, you may want to remove the area rug(s) and leave the floors bare. Eliminating the rugs will open up the room and make it appear larger.”

4. Update the Windows

Old windows aren’t just ugly – they can also let your heat and air conditioning escape, costing you big bucks.

“While window treatments are typically a focus in many home makeovers, the actual windows themselves are often overlooked,” says Victor Gonzales Maertens, an energy efficiency expert with Lennox Industries. “However, upgrading old single-pane windows with new ENERGY STAR-qualified windows can save an average of between $126 and $465 per year on energy bills, and some new windows qualify for the federal tax credit.”

5. Weed Out Bad Landscaping

Neglected bushes and overgrown lawns can kill a home’s curb appeal. Don’t worry – you don’t need a green thumb to spruce up your yard. Going green doesn’t have to damage your finances.

“Clean up the site by removing any dead or dying plants, branches and flowers,” suggest Jennifer Hoxsie, landscape designer with Greenhaven Landscapes in Lake Bluff, Illinois. “Prune overgrown shrubs along the home’s foundation so they are below the window sills and off walkways and driveways. Fill empty holes with site-appropriate plants. Have all the planting beds weeded, edged and mulched for a clean, crisp look. Finally, weed and fertilize the lawn and provide supplemental watering if necessary to maintain a lush green carpet.”

6. Add Decorative Touches to the Yard

We’re not talking about plastic pink flamingos or creepy garden gnomes. Taylor Graves, representing CertainTeed building products, says, “Adding benches, stepping stones, fountains or other garden accents could go a long way in making your outdoors a visually appealing and welcoming environment.”

7. A Few Final Exterior Touches

While you’re outside, there are a few other quick moves that can make a big difference. (If you only have $1,000 to spend, what can you do that will get you the most bang for your buck?

“Add color with paint to outdoor features such as window frames, decorative beams and porches,” says Kurt Gleeson, national vice president of sales for RealEstate.com. Stick with calm colors that complement the home’s exterior color scheme, avoiding shocking shades and drastic contrasts.

“Clean external brickwork or concrete slabs with a liquid masonry cleaner to make them look new and neat. Power washing can give external stonework, walkways and front stoops a quick makeover.”

Spruce Things Up

By investing a few bucks and some elbow grease, you can boost your home’s image – and value – quickly this spring

4 Biggest Lies in Real Estate
by Ilyce Glink, Moneywatch.com

A funny thing about the digital age — the more information we have access to, the more misinformation we get hit with. In the not-so-long ago days when the Internet was mainly for e-mail and facebooks were made of paper, homes were mostly advertised through newspaper ads. As long as you understood that TLC meant you needed to be handy with a hammer and an “efficiency kitchen” meant you’d better like take-out, you could avoid getting suckered.

Anyone gearing up to buy or sell a house this spring, however, has to bring a bit more skepticism to the process. Sure, the Internet has transformed the process of buying and selling a home in wonderful ways, but it has also increased the opportunities for mischief. Fall for bogus listings and lousy home price “data” and you could wind up overpaying for a home or finding yourself stuck, unable to unload the one you have. Don’t get taken by these big lies:

1. Phony Photos and Videos

Digital photos and video have been a godsend for real estate agents, homebuyers and sellers, enticing prospects to drool over images of Viking ranges, sparkling pools and lush lawns. Lately, agents have been posting interactive photos and floor plans, letting buyers view rooms and exteriors from different vantage points. Some houses have their own YouTube sites.

Problem is, it’s easy to Photoshop photos and edit video to make a house and its neighborhood seem far more attractive than they are. Some sellers post photos of kitchens and gardens you won’t find in the actual property. Videos get color-corrected so the grass, flowers and trees seem fresh and alive. A house may seem newly painted, even though the photo was taken five years ago.

Get the Truth: Go to Google Street View or Microsoft Live Search Maps for a reliable third-party look at a neighborhood or home exterior. They won’t show the inside of a house, though, so you’ll need to drive to the property and see it for yourself.

2. Valuations Lacking Value

Knowing how much a house is truly worth is vitally important whether you’re a buyer or seller. With home values down an average of 30 to 40 percent since 2005 in major metro areas, every penny counts. But you can’t always trust the numbers on home valuation sites such as Zillow, CyberHomes and Realtor.com.

When I plugged in a particular 5-bedroom/4-bath house on these sites, I received vastly different valuations and sometimes incorrect information about the number of bedrooms and bathrooms it had. I’d estimate the house is worth between $1.2 and $1.4 million. Zillow’s “Zestimate” (a calculation also used by RealEstateABC.com) was $943,000; CyberHomes suggested a range of $960,000 to $1.2 million and Realtor.com went with $788,036.

Get the Truth: It’s fine to start with online valuation sites for ballpark estimates. But to get a reliable valuation, get out of the virtual world and into the real world. If you’re selling, invite several real estate agents to walk through your home and analyze its value based on recent comparable sales. You might also hire an independent appraiser (cost: around $350 and up). If you’re buying, hire an agent who has worked the area for years, if not decades. It’s generally a waste of money for a buyer to hire an appraiser, since the lender will require its own appraisal before granting a mortgage.

3. Mortgage Rates You Can’t Get

Visit a mortgage aggregating site such as Bankrate.com and you’ll naturally want to apply for the lowest rate shown. But that rate may not really exist — at least not for every applicant.

Mortgage lenders often advertise fake low rates online without explaining that you can’t get them if your down payment or credit score is too low or you’re not willing to pay extra-high closing costs. At worst, the rate may be a “bait and switch” and wholly unavailable.

Get the Truth: Start your mortgage shopping by identifying a well-known national or regional bank, a small local lender, a well-regarded mortgage broker, a credit union (if you belong to one or can join one), and an Internet mortgage aggregator such as Priceline. Then go to AnnualCreditReport.com to pull a copy of your credit history and to pay to get your credit score. Next, find out what each lender on your list would really charge for your loan. Use the quotes to negotiate the best deal.

4. Unreal Property Descriptions

The old saw, “You can’t believe everything you read” is often true about online listings. A property advertised as having a “water view” might feature a glimpse of the ocean if you open the window, stick your head out, and look left.£ A “light, bright” apartment implies loads of sunshine, but may instead describe the wattage from overhead lighting. A condo’s listing sheet promoting “Southern exposure” might leave out a key fact: The front rooms look south, but the rest of the place faces a warehouse 10 feet away. A mention of an “in-law” or “rentable” apartment over the garage won’t say whether renting out that room is illegal, subjecting you to a future showdown with local zoning officials.

Get the Truth: To weed out unreal estate, do some fact-checking. If the beachfront condo supposedly has a water view, tell the broker to e-mail you a floor plan for the entire building. When a listing sheet says the house had a substantial renovation, check it out before you get too excited. And if you get serious about the property, you can always ask the town building department to confirm a renovation; there may be blueprints on file. If you’re counting on renting out a room above the garage, ask the building department if it’s allowed.

If you are on an apartment hunt in Amman, the following hints and tips might give you a clue:

Top Areas

The most popular areas in the real estate market these days are: Abdoun, Al-Rabiyeh, Khalda and Tla’a Al-Ali. They are witnessing an increase in the buyer’s demand and that could make them a bit expensive, but that doesn’t mean you cant find great deals like this one in Tla’a Al-Ali :

110 sqm apartment, 3 bedrooms, 3 bathrooms for 45,000 JD only !

Price Range

An apartment in Amman could cost you as low as 25,000 JD or as high as 100,000 JD depending on several factors like the area, the number of rooms, the size…etc. Some areas are relatively expensive, just like AlRabiyeh, Dayr Ghbar and Umm AlSummaq. If you are looking for  more reasonable prices, you might want look in areas like Dhahiyat AlRasheed  or Tbarbour. For lower prices you might want to look in areas like Al-Hashmi, or Wadi Al-Seer.This apartment in Tabarbour has great features and a very competitive price :

150 sqm apartment, 3 bedrooms, 2 bathrooms for 47,000 JD only!

Rentals

With the real estate prices on the rise, rentals could be a better option for many. The annual rental prices in Amman ranges between 1,800 JDs up to 30,00 JDs. Check out this furnished apartment for rent in Umm Al Summaq:

160 sqm furnished apartment, 3 bedrooms, 3 bathrooms for 6,000 JDs a year.

Quick tips for apartment search in Amman:

1. Consider the areas where you would like to live. Is the area convenient in terms of shopping, services, health, transportation…etc?

2. Evaluate your top priorities in finding the right apartment and write them down in a list.

3. Search early. Start looking for an apartment before you actual need it.

4. Don’t hesitate – if you find an apartment you like, get it.

Stay tuned for more tips and hints on apartment search from Amman real estate experts .