5 Quick Garage Organizing Tips

From seasonal decorations and old baby clothes to sports equipment and college textbooks, it’s no wonder garages tend to be the catch-all for clutter. But with a garage full of anything-but-the-kitchen-sink, where is a homeowner to start?

Stop tripping over things on your way to the car and give your garage some much-needed TLC with these quick and easy organization tips.

1. DECIDE WHAT TO STORE :Start by devoting one weekend day, preferably on a day the weather cooperates, to "the big sort." Make four piles: store, sell, donate and toss. For the items you're throwing out, consider having a -- you guessed it -- garage sale. This is a great way to earn some extra money to buy items for organizing your garage.
   
2. DESIGNATE ZONES: Try grouping frequently-used items together, placing seasonal items and keepsakes in different zones altogether. You may want to designate a section of your garage for sporting equipment and outdoor items, another area for gardening tools or craft supplies and a different area for automotive supplies.
   
3. USE YOUR WALL SPACE: Shelves, cabinets, racks and hooks keep items off the floor and reduce clutter. The walls of your garage are a great place to configure a storage solution that works for your purposes. It doesn't have to be pricey -- most of the items you would need can be found at your local home improvement store.
   
4. UP AND AWAY:  The ceiling is easily overlooked as an area for garage organization. Shelves can also be built in the rafters and used for storing items that are used infrequently, such as seasonal decorations and travel luggage. The great thing about this type of storage is that clutter is placed up and away, hiding many of the less-glamorous items from view.
   
5. BOX IT UP: Get out the Sharpie and use plastic storage bins or cardboard boxes with clearly-marked labels displaying their contents for a clean, clutter-free look. Instead of letting unused luggage go empty, use it to store those old clothes from when the kids were babies that you just can't part with. Have an old dresser? Put it to good use and consider letting the kids design the newest garage storage system, which, when outfitted with cabinet grip liners, is perfect for those smaller items.

"Considering how often it's used, it makes sense to give your garage some organizing attention," says Lisa Engel, vice president of channel marketing and communications, ClosetMaid.

A well-organized garage not only looks good, but makes your life easier by allowing you to find what you need quickly.


Written by: Suzi Milovanovic

Six Reasons Housing Inventory Keeps Declining

Home sales in December dropped by 1% from November, the National Association of Realtors reported on Tuesday, but still stood nearly 13% above the levels of one year ago. That means home sales have risen from the year-ago month for 18 straight months.

For 2012 as a whole, sales were up 9% to 4.65 million units, the highest annual total since 2007.

Prices, meanwhile, are picking up because the number of homes for sale continues to drop despite the sales volume gains. The number of homes for sale fell to 1.82 million at the end of 2012, an 8.5% drop from November and a 21.6% decline from one year earlier, the Realtors’ group said on Tuesday.

Here’s a breakdown of why inventory has continued to drop this year:

Many homeowners are underwater: More than 10 million homeowners owe more on their mortgage than their homes are worth, according to CoreLogic Inc. CLGX -2.18% That pencils out to around 22% of homeowners with a mortgage, or 15% of all homeowners (since not every homeowner has a mortgage). Underwater owners aren’t likely to sell unless they need to move due to changing life (marriage, divorce) or financial circumstances, and they’ll take a hit on their credit for pursuing a short sale, where the bank allows the home to sell for less than the amount owed.Data from CoreLogic show that inventory has been the most constrained in housing markets where there’s the largest concentration of underwater borrowers.

Others don’t have enough equity to “trade up”: Another 10 million homeowners have less than 20% equity in their current residence, meaning they can’t easily “trade up” to their next house. Traditionally, homeowners have relied on home equity to make the down payment on their next home, and to pay their real-estate agent to sell their current home and buy their next one. These “under-equitied” homeowners—meaning they don’t have enough equity to make a move to a more expensive home—have added to the drag on inventory.

Everyone wants to buy at the bottom, but few want to sell: Even those people who do have plenty of home equity are likely reluctant to sell if they think prices will be higher tomorrow. Would you sell your largest asset today if you thought it might be worth 5% more next year? This helps explain why markets such as Denver and Dallas, which didn’t have huge housing bubbles and thus had smaller shares of underwater borrowers, have also seen double-digit inventory declines.

More purchases from investors of all stripes: From the big institutional investors that have been grabbing all the headlines, to the mom-and-pop landlords that have traditionally played a much larger role renting out homes, investors have increasingly bought homes that can be rented out rather than flipped and resold for quick profits. This is further keeping inventory off the market in two ways: homes that are bought at courthouse foreclosure auctions never show up on multiple-listing services when they’re initially sold. They’re also held out of the for-sale pool because they’re being rented out.

Banks have been slower at foreclosing: Banks and other companies that process delinquent mortgages have had trouble proving that they’ve followed state law in taking title to homes ever since the “robo-signing” scandal surfaced in late 2010, and they’ve also had to meet a host of new state and federal rules governing loan modifications and foreclosures from settlements spawned by the robo-scandal. Banks have also become better about approving short sales and loan modifications, which has curbed the flow of foreclosed properties onto the market.

Builders have been putting up fewer homes: Housing starts were severely depressed from 2009 through 2011 and have only recently rebounded off of those low levels. Consequently, there’s been much less new home inventory being added to the market at a time when demand (boosted by increases in household formation) is picking up. If more homes are held off the market—for any of the five reasons above—you can bet that builders will move in to fill the void.

Many of these factors that have been dragging down inventory aren’t signs of “normal” or “healthy” housing markets—but then, we probably haven’t had a normal market for around a decade now. If anything, declining inventory shows that normal supply-and-demand dynamics are returning, which is an important step towards putting a floor under home prices and giving markets time to get back to health.

Written By: Nick Timiraos

3 Tips for Insuring Your First Home

Buying your first home can be both an exciting and a scary experience. Many homeowners are appreciative of any bit of information that would help make the process less stressful and as painless as possible. Home insurance is usually a major contributor to the anxieties new homeowners’ experience. They are often confused about how much insurance they need. This post will give easy tips for choosing the best insurance for new home buyers.

Your House Should Be Fully Covered

The coverage on the insurance policy should reflect an amount that can adequately take care of the cost of rebuilding and refurbishing your entire house in the event that you lose it completely. Insurance companies may use a cost estimator to ascertain the cost replacement estimate, but you can have a home builder assess your home and furnish you with an estimate of the rebuilding cost. This should include the unique and/or expensive details of your home (if there are any). You do not want to end up being underinsured. Once you have the estimate for rebuilding, you will need to figure out which coverage to take. The choices are:

• Guaranteed Replacement Cost Coverage – The insurer bears the cost for the rebuilding your home in spite of that cost. Very few insurers are offering these policies now.
• Extended Replacement Coverage – This coverage involves the capping of the payout you would receive to approximately 125% of the insured value of your home.
• Inflation Guarantee (or Guard) – This is a feature that ensures the insured value of your home stays on par with that of the marketplace.

Strive to get a reliable appraisal and extended replacement coverage along with an inflation guarantee. These will place you in a good position.

Liability Insurance

Home owners are sometimes caught off guard by third party claims for an injury someone incurred at their house or damages they caused to their neighbor’s property. These things happen, so protect yourself by ensuring your home insurance includes a liability insurance policy. Liability insurance gives the homeowner protection against any third party claims of damages and personal injury that occur on their property or are caused by them. Someone may fall and hurt themselves while on your property, or in the case of neighbors living in close proximity, your child could be playing and accidentally cause damage to their property. Liability insurance takes the burden of paying for medical bills or damages from your pocket, as the insurance company will take care of it.

Get Additional Coverage for Your Valuables

The standard insurance policy covers you home and possessions against eventualities such as natural disasters, fires, theft and accidents, but only does so indirectly for certain assets. Homeowners are sometimes caught off guard when they suffer from a disaster and realize they will not receive full compensation for certain valuables inside the house. The standard HO-3 policy takes care of the structural aspect of the house along with its contents, but there is limits the compensation for expensive possessions such as artwork and fine jewelry. You can obtain full coverage for them by paying a little extra on your policy each year.

Home insurance keeps your home safe even while you are away on vacation. This gives homeowners a sense of protection. Make an inventory of your property, as this will save you the time and expense if the need to file a claim arises.

Written By: Adam Vaught

5 Small Home Improvement Projects with Big Returns

The very mention of ‘home renovation’ can cause anxiety in homeowners, particularly those who have already gone through the process. Extensive remodeling projects can be expensive, disruptive, and time-consuming, but that does not necessarily apply to every project. There are a number of upgrades that can dramatically improve the look and feel of your home without breaking the bank or creating total chaos in your life. If you are trying to sell your home, you will find that inexpensive improvements can yield big returns. Here are five enhancements that fall relatively low on the hassle scale:

1. Hardwood Flooring Installation

Installing hardwood flooring should, in most cases, be left to a contractor, as it requires special equipment and expertise. On the other hand, glue-down hardwood floors are less costly, especially if your home is on a concrete slab. The installation of nailed hardwood floors over concrete requires that a layer of plywood or other suitable wood medium be applied first so that the new product can be attached with nails. However, glue-down flooring eliminates this step because an adhesive is used for the attachment process. It is generally a faster installation as well. For instance, a 400 square foot room floored with 3-inch flooring can usually be completed in 1 to 2 days.

If you already have hardwood floors that are worn, you might want to consider refinishing. Again, this is a job for the well-skilled craftsman, but it will dramatically improve the look of the room and require much less time than a complete replacement. In fact, approximately 86% of homebuyers in 2011 chose a home with hardwood floors, so this renovation is a worthy investment if you plan to sell your home somewhere down the road.

2. Kitchen and Bath Hardware

One of the simplest upgrades that can be performed is the installation of new hardware such as towel racks, cabinet handles, toilet paper dispensers, and other wall-mounted hardware. Several aesthetically pleasing designs are available for a range of prices. If you are handy, this is a true do-it-yourself project.

3. Cabinet Upgrades

Replacing cabinets is an extensive process, particularly in a kitchen. Unfortunately, this process will make that area practically unusable during the renovation. If your cabinets are not dated or damaged, you may opt to refinish the doors and drawer panels instead. In addition, you may want to replace old hardware like pull handles and knobs. This is a much cheaper option and will reduce the disruption since the cabinets themselves do not require demolition.

4. Exterior Door Replacements

The front entry is one of the first things a visitor sees when approaching your home. If the front door is old, warped or damaged, replacement should be considered, not only for cosmetic reasons but for energy efficiency benefits as well. Standard size doors can be purchased at virtually any home improvement center. They may also have an installation option as well, and that can make this a truly painless upgrade.

5. Wall Painting

A fresh coat of paint can do wonders for any room. Walls and ceilings get stained and dulled over the years, and a fresh application of paint not only brightens but protects these areas. Painting is a true do-it-yourself project; it does require patience and attention to detail but the outlay for materials and paint is minimal for the benefits gained.

Written By: Erin Devine

5 Things New Home Buyers Look for First

The real estate market is so huge these days that people that want to sell a house need to make sure that everything is in a perfect state. And not only that – they should also try to make the most important features stand out in order to make the potential buyers even more interested in their particular house.

Nobody buys a house without looking around for awhile, so it is necessary to get the property into the ideal state. Of course, there are some things that new home buyers look for first – and those are the things that you should focus on in your preparations the most. In this article, we are going to look at some of the top ones.

Patio

Patio might not be the most important feature for many buyers, but it is a feature that has a huge influence on the buyer’s first impressions and we all know how important that factor might turn out to be. Someone who will have to walk through a patio that is in a state of disrepair is surely not going to regard the entire property very highly. On the other hand, a well-designed patio with seasonal decorations that is kept in a good state might have the opposite effect on the potential buyer, so make sure that your patio is indeed going to start the inspection on a high note.

Roof

When it comes to exterior features, roof is one of those things that stand out the most and any deficiencies in that department are going to be noticed by everyone who will want to take an in-depth look at the property. This is especially true in locations that experience their fair share of bad weather and where it is a really good idea to have a roof of the best possible quality. You might not be willing to invest into a complete renovation, but you should undoubtedly fix the most obvious problems in order to make your house more attractive.

Layout

With the exterior out of the way, the layout is what is going to hit the buyers straight away. Changing the layout is an incredibly tough task and, unfortunately, you will have to pitch your layout a little bit if it isn’t designed according to the current trends and tendencies. One of the things that modern families like to have is shared space between the living room and the kitchen. You are obviously not going to change the entire layout just because you have the two rooms separate from each other, but you should know how to convince the buyer that this is no issue at all if the topic comes up during the inspection.

Indoor Decor

One thing that can be changed more easily is the indoor decor – and you should definitely try to make it as neutral as possible. Neutral and conservative colors are going to appeal to a much wider audience than eccentric colors like dark red. You might love to live in rooms with that kind of aesthetic features, but chances are that the buyers would prefer to come into a place that has a neutral decor and color palette. Thankfully, it is not that hard or expensive to change this particular feature and you should therefore surely consider changing it even before you put your house on the market.

Infrastructure

Finally, everyone who is satisfied enough with what he or she sees will certainly want to take a look at the house’s infrastructure. We are talking about the most basic things – water, electricity, and heating. Every single house has an infrastructure, but customers tend to be very picky these days. First and foremost, everything needs to be in a perfect state – nobody will want to buy a house in which the heating system will have to be changed in the near future.

With that out of the way, home buyers also tend to look for how efficient all those systems are, especially when it comes to environmental friendliness. Solar panels seem to be what the craze is mostly about these days – and innovative solutions like that can certainly make your house stand out from the rest of the market. So don’t forget to mention them during the inspection!

Written: Paul Hayden

Staging Your Property to Appeal to All Five Senses

Before you conduct your first open house, consider how you can stage your property so that it is more appealing to potential buyers. Most open houses appeal to only one sense – our eyes. This is extraordinary given how much our day-to-day emotions are influenced by what we smell and the fact that there is a high chance our mood can change when we are exposed to a positive sound. The importance of our senses has been completely overlooked when it comes to selling a home… until now.

Sniffing an opportunity…
Have you ever walked past a Subway sandwich shop where you can smell the aroma of warm bread? If you look carefully at the awning you will spot vents that are specially designed to disperse baking aromas. This has proved to be a profitable exercise for the Subway Franchise.

Studies show that smell is heavily connected to our memory and our mood. When the opportunity presents itself, I like to place a tangerine or a pinch of vanilla extract on a sheet of tinfoil and turn the oven to 275 degrees. I have observed that this subtle smell will put a smile on a visitor’s face and allow a buyer who has seen 15 similar apartments in one day to distinguish your apartment as the “vanilla smelling apartment”. The smell must be subtle and anything too strong could backfire.

Taste goes hand in hand with smell.
Who’s in a good mood when they’re hungry? In addition to creating a subtle aroma, pairing simple foods together could go a long way with changing your buyer’s mood. When I place a pinch of vanilla extract in the oven I generally like to offer foods that match this smell such as cookies, chocolate, and coffee that I have brewed. When I place a tangerine in the oven, chopped fruit with tooth picks and wine generally matches the aroma better.

Depending on the type of clientele your listing attracts you can choose between one or the other. From my experience when dealing with apartments that have multiple bedrooms where a family is going to live, I generally like to serve coffee and cookies, as I sometimes expect kids to show up. The use of coffee will also make them feel more alert and thus more prone to listening to what you have to say and the act of making the coffee and pouring it into their cup will make them feel more at home. When dealing with a one bedroom apartment that will generally attract a first-time single buyer and clients looking for pied-a-tiers, I find fruit and wine make them feel more relaxed and more prone to opening up to the agent.

Sound is connected to mood as smell is connected to memory.
Sound creates feelings and emotions. Think about the last love movie you saw, it isn’t nearly as emotional if you watched it with the sound off. If you have ever been to a townhouse open house in NYC at times you’ll see them hire an opera singer, cellist and violinist. I am not saying you should go that far, however, I do think that a subtle natural melody can help soften the mood and make a buyer feel more relaxed.

Temperature is key and doors are for discovery…
The skin is the largest organ of the body. It instantly alerts us to cold, heat, pain or pressure. When you hold an open house make sure the temperature of the house is right. In the fall and spring I would advise keeping the thermostat at 72 degrees. In the winter I would advise 80 degrees and in the summer at around 60. Remember if the house is too hot it’s going to come off as ‘stuffy’ and if the house is too cold it’s going to come off as unwelcoming.

Also, before a buyer walks into the house, close all doors to closets, bathrooms, and bedrooms. The more doors a buyer opens the larger the apartment feels.

Sight is the most seductive sense of all.
It often overrules the other senses, and has the power to persuade us against all logic. What you should understand about vision is that it’s all about light and that’s why they say, to truly see what an artist saw when painting a given picture; you should look at it under the same light. Here’s my advice:

• The house should be shown when it receives the best natural light.
• Turn on ALL lights in the house.
• Allow your prospective buyer to see themselves in the space. It is important that you remove personal items such as photographs, collectables, awards, family heirlooms or controversial art.
• Clear out any clutter and knickknacks from corners, counters and tables. Remove outdated furniture and extra pieces to open up a room and make it more inviting.
• Buyers love to snoop and will open closet and cabinet doors. Clean and organized closets look roomier. Consider advising the seller to donate unused clothing and items to their favorite charity.
• If the property needs work – dated wallpaper, ratty carpet – consider having it replaced. A fresh coat of neutral paint is a relatively inexpensive way to make a home look clean and fresh.
• Making minor repairs can also make a big difference. Replace cracked floor or counter tiles, patch holes in walls, replace burned-out light bulbs, fix leaky faucets, doors that don’t close properly and broken fixtures.
• Clean like the sale of your home depended on it … because it does. Pay particular attention to the kitchen and bathroom sinks and counters. Clean windows to make a room brighter and so your buyers are no distracted.

Written by: Ariel Dagan

Which Home Loan is Right For You?

The steady uptick in temperature ushers in more than just pool-side cocktails and barbeques. It’s the start of real estate season, and people are hitting the MLS and local Realtors in search of For Sale signs to lead them to their perfect home.

But before you move from hunter to homeowner, the mortgage industry must be conquered, and you’ll have to get a home loan. The good news is that interest rates on mortgages are dropping, with CNN Money reporting 15-year mortgages with an average rate of 3.11%. The bad news is there are so many loan options available, you may have a hard time figuring out which one is right for your situation.

These short questions can help point you in the right direction instead of taking a stab in the dark. If you’d rather view visuals, New American Funding created an infographic quiz that can help you find the right home loan though a series of short questions.

How’s your credit score?

• More than 640: Conventional Loans are your best bet because you can take advantage of the low interest rates and flexible payments
• Less Than 640: FHA Loans provide easier qualifying guidelines if you’re credit score isn’t great or you can’t afford a large down payment.

How big is the home you’re buying/refinancing?

• Less than 3 bedrooms: If your home is more than $417,000, double check your county’s maximum loan limits. For a lot of house, High Balance Loans or Jumbo Loans are your best option.
• 3+ bedrooms: If your home is less than $417,000, you’ll fall into the amounts of FHA or Conventional Loan limits.

Would you consider yourself a risk taker?

• Absolutely: Adjustable Rate Mortgages (ARMs) give you a lower interest rate for the first 3-10 years, but it will adjust based on the market so if you can stomach the fluctuations, go for it and then go skydiving.
• No way: Nothing wrong with being conservative. Secure yourself with a Fixed Rate Mortgage so you know how much you’ll be paying each and every month.

How old are you?

• Under 35: You’re either a first-time home buyer or a home buying prodigy. Assuming the former, the FHA Home Loan First-Time Homebuyer Program is a great choice for your first loan.
• Over 35: You’re likely old enough to have built up your credit history and put some money way to afford an FHA or Conventional Loan. If you’re over 62, check out Reverse Mortgages.

How much is your household income?

• Less than $150,000: FHA Home Loans provide the best value with the lowest price tag.
• Greater than $150,000: If you make more and have a low income to debt ratio, you can quality for a higher loan amount. FHA and Conventional Loans are both options

How much longer do you see yourself working?

• Less than 5 years: If you’re about to be retired, you may qualify for a Reverse Mortgage. If you’re a stay-at-home parent, find a loan that can be more affordable with just one income.
• More than 5 years: FHA or Conventional Loans are best for the working class, but if you see yourself moving in 5 years, consider an Adjustable Rate Mortgage or a 15 Year Fixed Rate.

Written by: Erin Everhart