#renovation – Artisan Sotheby's International Realty

Bottom 10 Listings Features Could Surprise Sebastopol Readers

You don’t have to be planning to add your own home to the Sebastopol listings to be curious about how it would do if it were up for sale. If you are considering a change of residences, it’s twice as likely that you have been checking out the latest listings in Sebastopol to see what comparable properties are asking, which are already under contract, and which have been listed for the longest times…

Most important in the interest any listing elicits is the photography—combined with the Big Three: Asking Price; Number of Bedrooms; and Number of Bathrooms. But there is also the list of possible amenities—and how each stacks up with buyers across the nation. Some of them seem to attract the most eager buyers, while others seem to draw the most yawns. We’ve done an informal (and definitely unscientific) audit of what the leading commentators have come up with as “least popular” home amenities. We were quite surprised by several of them, especially number 5!

Here’s a sampling of the 10 top least exciting contenders:

1. Elevator. Almost every source mentioned this. People don’t want elevators in their homes, except for a small percentage of seniors. This is fortunate, because very few Sebastopol listings ever include them.

2. Two toilets in the master bath. Not terribly surprising, but not to be confused with two sinks in the master bath, which (at least here in Sebastopol) is a definite plus.

3. Cork flooring. Cork has excellent thermal and acoustical qualities. It’s lightweight, warm to the touch, hypoallergenic…but, alas! None of that seems to matter. Unpopular, apparently.

4. Wet bar. This could have some connection to the next:

Wine cellar. The vintage wine storage problem is, apparently, not high on most folks’ gotta-have-it lists.

Daycare center nearby. This is a surprise—you’d think it would be a strong positive for professionals with little ones. Perhaps this is a reaction to negative news stories about daycare centers in places other than our area…or perhaps, since other properties are within the same “nearby” radius, it’s just not enough of a differentiator to make it a listings winner.

Two story family room. Although this can be a delightful architectural feature, to some buyers it might hint at would-be grandeur that could make a family room less cozy.

Two-story foyer. Ditto.

Laminate countertop. Not surprising: stone seems to rule the roost in countertop mentions (as it has for years). One commentator found that Gen Xers “hold laminate countertops in the same disregard” that their elders hold for next-door baseball or soccer fields.

Pet washing station. Sorry Fido; looks like it’s off to the groomer for you.

There they are—but if your own Sebastopol home has one or more of these attributes, never fear…we’re experts at coming up with creative approaches for marketing them in new and exciting ways. Give us a call when it’s time to start creating your listing!

Financial Fitness in 2015

Fitness takes many forms: physical, emotional and, yes, financial. We encourage you to take the beginning of 2015 and approach your financial fitness with as much rigor as you would to any other part of your overall health and well-being. To achieve your goals, make it a habit to start each New Year with a clear understanding of your financial fitness.

What are your financial goals, both long and short term? Have they changed? Your goals can range from buying a home or remodeling a current property, saving for your child’s education, planning for retirement, or leaving a legacy. By annually re-defining your near-term (1 year), short-term (3-5 years), and long-term goals, you ground your financial decisions in your current goals, not old or outdated ones.

Having defined and confirmed your goals, are your finances working in support of them? Are your assets producing the financial returns needed to achieve your goals? Even assets that aren’t financially motivated produce a return; evaluate these as well. Do they provide the quality of life you desire?

What needs your attention immediately and what may need attention in a few years? Are your real estate investments performing as expected? Are there actions to take this year? Upgrade? Remodel? Liquidate? Are there any deferred maintenance items that should be attended to in 2015? Are your investments performing? How do your holdings perform against the national average? Will you be able to achieve your financial goals both now and in the future?

Once you have analyzed your current status, assets and resources available to you, and changes to make, formulate your final financial plan. We are happy to help you with any stage of your financial assessment and planning. We have developed strong relationships with some of the best local, trusted, and experienced, CPAs, financial planners and wealth managers in Sonoma County. Please contact us; we would be honored to pass along their contact information to you.

There is a lot to be said for a yearly fitness assessment, especially a financial one. We feel that the best New Year’s resolution you can make is to look at all of your investments, not just your real estate holdings, to make sure they are working together in service of your financial goals and dreams.

Love it or List it

We are often asked if remolding a home will not only increase the value of a property but pay for itself upon resale. It is tough to say definitively, but for the most part, any renovation you embark on should hold the greatest value in your enjoyment and quality of life. Remodeling a home with the sole intention of increasing its resale value is likely to fall short of expectations.

Why? There are many factors that come into play when determining a value of a property, including what buyers might be willing to pay. The trick in real estate is to find that balance between the two.

Sometimes even cosmetic decisions can affect the resale value of your property. If you remodel your kitchen and select a countertop that you enjoy but is unique in its color and texture, the likelihood of multiple buyers enjoying the same style is small. This creates a much more narrow pool of people you can sell your home to. Selecting furnishings, appliances, colors and flooring that accent the architectural integrity of your home, as a focus, can prove to be a much safer investment if resale is your focus.

Consider your neighbors, location of your home and its current value. Some homeowners remodel their homes right out of a profit. If your home was already at the top threshold in market value, adding additional pressure to gain any remodeling costs at resale can end badly. You can over spend and over value your home.

Not all remodels provide the same bang for their buck. Kitchens and bathrooms typically steal the spotlight in a home remodel, but they aren’t necessarily the ones that have the highest return on investment when you sell your home. Smaller, less sexy renovations give you the bigger bang for your buck such as: a new front door, replacing the siding, new windows, deck addition or a minor remodel to a kitchen. One of the lowest returns on investment has shown to be a home office.

Fundamentally, your home is your castle. You have worked hard to purchase it, you take pride in maintaining it, and you have enjoyed living in it. If there are some things that you would like to do to spruce it up and make it more functional, esthetically pleasing, or bring it into the modern world, do it for your enjoyment. This way if you do recoup your initial cost of the remodel it is a win-win situation.

Still considering taking the “hammer and nail plunge”? Consider these questions posed by Realtor.com in a recent article on home remodeling. They might help you clarify your decision to remodel or give you pause and allow you to adjust the scope of the project.

http://www.realtor.com/advice/is-remodeling-your-home-worth-the-cost/

How long do you plan to live in your current home?
Will you get to enjoy the results of your remodeling project?
Will the remodel meet an immediate but temporary need? Or be an investment in your lifestyle?
How old are you? What kind of income do you anticipate in the years ahead?
If you are close to retirement, is now the time to invest in home improvements?
How much chaos can you live with during the renovation process?
Does your house—the floor plan, the garden, the bathrooms, everything—work for you?
Will your home need a lot of updates? Will there be simple ways to update things like energy usage?

Once you have taken a deeper look into this journey and you are still game, call us. We are happy to come out to your property and give you an obligation-free assessment of your plans from a real estate perspective, as well as access to our vast list of experienced and trust-worthy service providers that can assist you with your improvements. A professional perspective from a realtor, home appraiser, or interior designer could save you a lot of money in the long run.

My wife and I have had many of these conversations over the years and we still chose to remodel our home, consciously disregarding any resale value it may or may not bring us in later years. We are committed to living in our home for an infinite number of years and decided what we would gain in personal enjoyment would far exceed the money spent.

We have designed and created a living space that is ideal for our lifestyle, tastes and wallet, and are immensely pleased with the results – regardless if everyone likes our choice of bathroom tile!

Bottom 10 Listings Features Could Surprise Sebastopol Readers

Financial Fitness in 2015

Love it or List it

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