From post on http://realtormag.realtor.org/home-and-design/feature/article/2017/01/these-doors-can-modernize-your-listing-s-look JANUARY 2017 | BY MELISSA DITTMANN TRACEY A front door with pizzazz has always had a starring role in a home’s curb appeal. But lately, the doors inside a home are getting a closer look for their ability to add style and address design challenges. Strategically placed doors can offer privacy in open floor plan environments or increase the usability of cramped spaces.   Real estate pros Helene Bonello-Strauss and Malte Strauss with Trust International Real Estate LLC in Orlando, Fla., who also manage the staging blog idesigntosell.com, have used barn doors hung on sliding tracks above door frames and pocket doors, which tuck inside a wall, in several remodel and staging projects. “We use [barn doors] all the time in master bathrooms where there is a vanity area that is separate from the tub [and] commode area,” says Bonello-Strauss, also a home stager. In some older homes, vanities are located in the master bedroom rather than in the bathroom, a style that quickly can date a home. “Now we just close those off with a barn door, and buyers love that solution.” She also recently used two barn doors hanging from each side of an open door frame to solve an open floor plan’s privacy issue. The homeowners had built an addition off the living area that could be used as a guest bedroom, but they never installed a door to separate the bedroom from the main area. Bonello-Strauss added the double barn doors so the space could be used as a guest bedroom or opened to expand the living area when not in use by a visitor. “It truly makes the room and provides an architectural interest to an otherwise bland wall,” she says. But don’t be thrown off by the word “barn.” Your listing doesn’t have to be country chic to benefit from this space saver. The concept works in many styles, from walnut barn doors for traditional homes to galvanized metal doors for urban lofts, says Lynn MacMillan, with Gem Home Staging & Designs in St. Catharines, Ontario. Pocket doors vary widely too, from all glass to all wood and from designs that stretch to the ceiling to those that are only waist-high. Sliding doors can attach to a kitchen island and can be used to close off areas to pets or children when needed. “I prefer using sliding doors in all my projects,” says designer and architect Lilian Weinreich in New York. Sliding glazed doors, she says, help create enlarged, obstruction-free bathrooms and walk-in dressing areas. Homeowners needn’t break the bank on these door styles. Costs vary, but barn doors start around $400 (with do-it-yourself installation). A pocket door can run...

Originally posted on http://realtormag.realtor.org/home-and-design/feature/article/2016/10/creative-ways-market-odd-spaces One client’s closet is another client’s playroom. Plant imaginative ideas in your staging and marketing copy demonstrating how outdated rooms and home features can better meet the needs of today’s buyers.   OCTOBER 2016 | BY BARBARA BALLINGER What do you say to buyers who look at a listing’s floor plan only to focus on the large space labeled “dining room” that they know they’ll rarely use? The fact is, buyers and sellers may have vastly different perceptions about how they want to live in the same home. But that doesn’t have to be a deal-killer. Part of the problem stems from how architects and builders label rooms on plans, says Chicago-based commercial interior designer Mary Cook. “Rooms get designated and labeled for specific purposes, so it’s difficult to break that perception and think about them as spaces that are something else,” she says. But as a real estate professional, you can help make a difference with the descriptions you write in your marketing materials and with the way you talk about space in a listing. Clever copy can provide just the right inspiration for buyers who might have otherwise turned away. A huge log-burning fireplace dominating a living room can be recast as a “built-in entertainment center to gather around,” suggests designer Lonnie Unger of Fredman Design Group in Chicago. Just be sure to make concrete suggestions that buyers can visualize, even before they zoom in on photos or step through the front door. Whether you’re working with sellers who have outdated notions of their listing’s assets or with buyers who can’t imagine how they’d use a space that doesn’t seem to apply to their lifestyle, we’ve amassed some talking points that can help you smooth out the conflict. Here are five examples to inspire you to help your clients imagine what can be, rather than allowing what is to become a deal breaker. 1. What it is: Oversized walk-in closet The big closets that came along with the McMansion trend were often outfitted with shelves, rods, cabinets, and even storage islands and seating space. As conspicuous consumption falls out of favor, these spaces may seem like a waste for some buyers, who’d rather spend their square footage elsewhere. What it can be: “Practical laundry space adjacent to master bedroom.” Because large walk-in closets are usually well illuminated and may even have a window for daylight, they offer numerous possibilities. How about an upstairs laundry by the bedrooms? After all, this is where most of the dirty clothing originates, so why should home owners trudge down to the basement with their hampers? If the space is large enough, a built-in ironing board or folding counter...

By Lisa Johnson Mandell | Nov 29, 2016 Marry the small-house craze with the equally hot trend of prefab homes, and what do you get? Small prefab homes, which are the housing industry’s equivalent to miniature schnauzers tied with a gift bow on Christmas day: extremely cute and increasingly in demand. Or, so argues Sheri Koones‘ latest book, “Prefabulous Small Houses,” which explores the beauty, variety, and benefits of small-scale prefab construction in all its glory. Also the author of “Modular Mansions” and “Prefabulous World,” Koones argues that these prefab homes may be small, but they are so beautiful and well-built, you can’t tell the difference between them and the supposedly “nicer” houses constructed on-site. Robert Redford, who wrote the foreword, is also a fan: “Building smaller, along with building houses prefabricated—in the process using less time, fewer materials, and using both more efficiently—is the sanest and wisest recipe for home construction, for now and for the future.” We talked with Koones about what we can all take away from these modest yet amazing dwellings. Q: What’s the biggest misconception people have about small prefab houses? A: The important thing for people to understand is that prefab homes today are literally indistinguishable from site-built houses. Realtors® don’t even have to disclose a house [they are selling] is prefabricated. I interviewed someone who bought a prefab panelized house, and he didn’t understand why I wanted to interview him. I explained, “your house is panelized,” and he said, “no, no, my house is a very expensive luxury house.” I said, “yes, it is,” and it was panelized and that means it’s prefab. Q: What do you consider a ‘small house’? Is it the same thing as a ‘tiny house’? A: The smallest house I feature in the book is 352 square feet. I differentiate that from a “tiny house” in that the one I write about is connected to the grid, it has a foundation, a septic system, plumbing electricity, etc., and it meets all the local codes. The largest house I feature is 2,500 square feet, and I’m considering that small, because it’s one of the smaller homes in Santa Monica. It’s all relative to the area. Q: What are some of the basic elements of the small prefab houses? A: In all of these houses, space is used in an intelligent way. A lot of the rooms are multipurposes. There are no large hallways or wasted space. All were built in less time than a site-built house would take, and are sustainable and low maintenance. Those are elements everyone seems to be looking for in homes these days. Q: Are small prefab homes less expensive than houses built on-site? A: Well yes, if they’re smaller. But price per square foot is usually about the same. But you save in other ways. Construction costs are reduced, because small...

By Cicely Wedgeworth | Nov 30, 2016 We won’t pretend to know everything that 2017 will bring—heck, 2016 sure surprised us—but we’re pretty certain there will be changes. A lot of them. And while the surprise triumph of Donald Trump in the presidential election won’t alter the fundamentals shaping the 2017 real estate market, its impact is already being felt. We’ve seen interest rates jump since the election, a movement that’s likely to affect the youngest generation of home buyers. Just like last year, realtor.com®‘s economic data team analyzed our market data and economic indicators to come up with a picture of the key housing trends for 2017. As we prepare to bid farewell to 2016, it looks like we’ll be saying goodbye to the last of the record-low interest rates of the past few years, too. Interest rates have shot up 40 basis points, or 0.4 percentage points, since Trump’s election. And that’s significant, especially for first-time home buyers, including many millennials. “With more than 95% of first-time home buyers dependent on financing their home purchase, and a majority of first-time buyers reporting one or more financial challenges, the uptick we’ve already seen may price some first-timers out of the market,” says Chief Economist Jonathan Smoke, who worked on the realtor.com 2017 housing forecast.According to the forecast, the 2017 national real estate market is predicted to slow compared with the past two years, across the majority of economic indicators studied.  But maybe “slowdown” isn’t quite the right description. “I would characterize our 2017 forecast as a moderation, as opposed to a slowdown,” says Smoke. “The pace of growth is still strong and, for pricing, still represents an above-average level of appreciation.” Smoke says we’re mostly reverting to normal prices, after years of appreciation as the housing market recovered from its 2008 crash. Recovery is good, but the flip side is that pricing is tougher for consumers, Smoke points out. “Throw in higher mortgage rates, and it becomes more challenging to be able to afford homes compared to what it was over the course of this recovery,” he says. Here are some of the key predictions for 2017: 1. Millennials and boomers will move markets In 2017, the U.S. real estate market will be in the middle of two massive demographic waves that will power demand for at least the next 10 years.Millennials and baby boomers, the two largest American generations in history, are both approaching life stages that typically motivate people to buy a home: marriage, having children, retirement, and becoming empty nesters.Smoke predicts that millennials will make up 33% of buyers in 2017, lower than his original estimate due to those increasing interest rates. 2. Millennials will look to the Midwest While...

By knowing how much mortgage you can handle, you can ensure that homeownership will fit in your budget. Homeownership should make you feel safe and secure, and that includes financially. Be sure you can afford your home by calculating how much of a mortgage you can safely fit into your budget. Why not just take out the biggest mortgage a lender says you can have? Because your lender bases that number on a formula that doesn’t consider your current and future financial and personal goals. Think ahead to major life events and consider how those might influence your budget. Do you want to return to school for an advanced degree? Will a new child add day care to your monthly expenses? Does a relative plan to eventually live with you and contribute to the mortgage? Consider those lifestyle issues as you check out these four methods for estimating the amount of mortgage you can afford. 1. Prepare a Detailed Budget The oldest rule of thumb says you can typically afford a home priced two to three times your gross income. So, if you earn $100,000, you can typically afford a home between $200,000 and $300,000. But that’s not the best method because it doesn’t take into account your monthly expenses and debts. Those costs greatly influence how much you can afford. Let’s say you earn $100,000 a year but have $1,000 in monthly payments for student debt, car loans, and credit card minimum payments. You don’t have as much money to pay your mortgage as someone earning the same income with no debts. Better option: Prepare a family budget that tallies your ongoing monthly bills for everything — credit cards, car and student loans, lunch at work, day care, date night, vacations, and savings. See what’s left over to spend on homeownership costs, like your mortgage, property taxes, insurance, maintenance, utilities, and community association fees, if applicable. 2. Factor in Your Downpayment How much money do you have for a downpayment? The higher your downpayment, the lower your monthly payments will be. If you put down at least 20% of the home’s cost, you may not have to get private mortgage insurance, which protects the lender if you default and costs hundreds each month. That leaves more money for your mortgage payment. The lower your downpayment, the higher the loan amount you’ll need to qualify for and the higher your monthly mortgage payment. But, if interest rates and/or home prices are rising and you wait to buy until you accumulate a bigger downpayment, you may end up paying more for your home. 3. Consider Your Overall Debt Lenders generally follow the 43% rule. Your monthly mortgage payments covering your...

You’ve found your dream home. Make sure missteps don’t prevent a successful closing. A home purchase isn’t complete until you make it to the closing. Until then, the transaction can fall apart for many reasons. Here are five tips for avoiding mistakes that cause a home sale to crater. 1.  Be truthful on your mortgage application. You may think fudging your income a little or omitting debts when applying for a mortgage will go unnoticed. Not true. Lenders have become more diligent in verifying information on mortgage applications. If you fib, expect to be found out and denied the loan you need to fund your home purchase. Plus, intentionally lying on a mortgage application is a crime. 2.  Hold off on big purchases. Lenders double-check buyers’ credit right before the closing to be sure their financial condition hasn’t weakened. If you’ve opened new credit cards, significantly increased the balance on existing cards, taken out new loans, or depleted your savings, your credit score may have dropped enough to make your lender change its mind on funding your home loan. Although it’s tempting to purchase new furniture and other items for your new home, or even a new car, wait until after the closing. 3.  Keep your job. The lender may refuse to fund your loan if you quit or change jobs before you close the purchase. The time to take either step is after a home closing, not before. 4.  Meet contingencies. If your contract requires you to do something before the sale, do it. If you’re required to secure financing, promptly provide all the information the lender requires. If you must deposit additional funds into escrow, don’t stall. If you have 10 days to get a home inspection, call the inspector immediately. 5.  Consider deadlines immovable. Get your funds together a week or so before the closing, so you don’t have to ask for a delay. If you’ll need to bring a certified check to closing, get it from the bank the day before, not the day of, your closing. Treat deadlines as sacrosanct. G.M. Filisko is an attorney and award-winning writer who wanted a successful closing on a Wisconsin property so bad that she probably made her agent rethink going into real estate. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal...