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9 Surprising Things That Add Value to Your House

9 Surprising Things That Add Value to Your House

by | Mar 10, 2015 | Homeownership, renovations

Published: December 3, 2013

A home’s value is dependent on many things. Here are nine factors you might not have thought about.

What do surf breaks, Walmarts, and public transportation have in common? Being near any of them can add thousands to your home’s value.

At least that’s what various university researchers have found based on their evaluation of variables that could be influencing home prices. Their conclusions might surprise you. Here’s what they found:

1. Surf Breaks

Being within a mile of a surf break (a spot where surf-able waves happen) adds about $106,000 to a home’s value, according to surfonomics experts at the Monterey Institute of International Studies.

Reality check: Mother Nature makes surf breaks, so it’s not like you could build your own DIY break to boost your home’s value.

2. Parks and Open Spaces

A desirable public park or other recreational open space boosts the property value of nearby homes by 8%-20%.

One study looked at 16,400 home sales within 1,500 feet of 193 public parks in Portland, Ore., and found these boosts to home values:

  • Natural areas: $10,648
  • Golf courses: $8,849
  • Specialty parks: $5,657
  • Urban parks: $1,214

Reality check: A park that’s not maintained and overcrowded can drag down nearby home values.

3. Living Near a Walmart

Along with making it easier to run out for a gallon of milk at midnight, researchers at the University of Chicago concluded that living within a mile of a Walmart store could raise your home’s value by 1%-2%, and living within half a mile could boost your property value by an additional 1%.

For an average-size home, that’s an uptick of $4,000-$7,000.

Realty check: What you gain in home value, you may end up spending at Walmart.

4. Solar Photovoltaic Systems

California homes with solar photovoltaic (PV) systems sell for a $17,000 premium over homes without solar systems, according to research from the U.S. Department of Energy’s Lawrence Berkeley National Laboratory.

Reality check: Although costs for residential solar power systems are falling, they’re still rather pricey at $15,000-$40,000, depending on the size of your house.

Related: Tax Credits for Installing Solar Panels

5. Walkability

Being able to stroll to schools, parks, stores, and restaurants will raise your property value anywhere from $4,000-$34,000, says a 2009 study from CEOs for Cities.

Reality check: The biggest boost in walkability values occurred in large, dense cities.

Related: Boost Your Neighborhood’s Walkability

6. Accessory Dwelling Units

Whether it’s a granny flat, an in-law apartment, or a carriage house, having a separate unit can increase your home’s value by 25%-34%, according to a study of 14 properties with accessory dwelling units in Portland, Ore. You can also get a steady stream of income from a second unit.

Reality check: Local governments often ban accessory dwelling units, so check zoning laws, building codes, and homeowners association rules before you add a unit.

7. Professional Sports Arenas

A new pro sports stadium can raise property values in a 2.5-mile radius by an average of $2,214. The closer you are to the new facility, the larger the increase in home value. Researchers from the University of Illinois at Urbana-Champaign and the University of Alberta examined house sales in Columbus, Ohio, before and after the city added two sports stadiums.

Reality check: If a stadium is proposed, home values can decline a bit until the project is complete. And if you live really close to a stadium, you may encounter traffic and parking issues.

8. Community Gardens

Planting a community garden raises the value of homes within a 1,000-foot radius by 9.4% within five years, according to research by the Office of the Comptroller of the Currency and New York University School of Law.

The impact increases over time, and high-quality community gardens have the greatest positive influence. Poor neighborhoods saw the biggest gains in home values.

Reality check: Gardens on privately owned land and in higher-income neighborhoods don’t have the same beneficial influence.

9. Trees

No real surprise here — whether trees are in your yard or just on your street, they’re a valuable asset you should be aware of. Here’s a gauge of how much trees are worth to your home value according to a University of Washington research survey:

  • Mature trees anywhere in your yard: 2%.
  • Mature trees on your street: 3%.
  • Trees in your front yard: 3%-5%.
  • Mature trees in high income neighborhoods: 10%-15%.

Reality check: Trees usually mean work — raking leaves, trimming branches, and keeping roots out of sewer lines.

 

 

By: Dona DeZube:Copyright 2015 NATIONAL ASSOCIATION OF REALTORS®
Do Your Windows Have the Power to Melt the House Next Door?

Do Your Windows Have the Power to Melt the House Next Door?

by | Mar 10, 2015 | Homeownership

 

If neighbors’ vinyl siding has mysteriously warped, energy-efficient windows might be the culprit.

With a fair amount of buzz recently about how some energy-efficient windows can create a laser-beam effect that warps siding on a neighboring house, we thought we’d check into the hubbub.

Bottom-line: It doesn’t mean you should abandon your decision to invest in low-e (low-emissive) windows, which limit heat transfer so that your house stays cool or warm. In fact, some areas require low-e windows on new homes or in retrofits.

Anyway, the melting tends to occur under a perfect storm of conditions — so not very often.

Still, we’ve got some tips for you, below, in case your window or your neighbor’s window has turned into a ray gun.

Probably a more important issue is whether you need to replace your windows at all. Our guide can help you make that decision.

What Causes the Laser Beam?

Here’s one theory from the National Association of Home Builders (NAHB): Changes in barometric pressure can sometimes cause low-e windows to bow inwards and magnify reflected sunlight. It’s like training a magnifying glass on an ant; the heat beam toasts anything in its path to more than 200 degrees Fahrenheit. Vinyl siding starts to warp at around 165 degrees.

But a white paper published by the Lawrence Berkeley National Laboratory says there’s been no extensive study on the topic, so whatever is causing the melting isn’t fully understood. Here’s what is known:

  • Warping could happen any time of year.
  • South-facing low-e windows appear to be responsible for a large number of incidents.
  • Damage to neighboring homes happens where houses are close together — up to 20 feet, according to the International Association of Certified Home Inspectors.

What are Industry Insiders Saying?

The Vinyl Siding Institute acknowledges the problem, but claims that heat distortion from low-e windows is rare. However, the NAHB says that as low-e windows have become more prevalent, melted vinyl siding has become more common. So much so that major vinyl siding manufacturers have updated their warranties to exclude heat damage caused by windows.

How Do I Stop the Laser Beam Effect?

To keep a window from cooking stuff in its path, including your deck furniture or car:

  • Install windows screens over the outer window. This will diffuse the reflected sunlight.
  • Block the sun from hitting low-e windows by adding window awnings.
  • Add a living privacy screen that will block the reflected rays from hitting your home.

Related: Well-placed trees and shrubs are natural energy-efficiency boosters.

To protect vinyl siding:

  • Add a privacy screen.
  • Replace damaged siding with heat-resistant vinyl siding.

Note: Heat-resistant siding can only withstand temps of up to 220 degrees. Plus, it costs up to three times the price of the regular siding.

Published: November 13, 2013

By: Deirdre Sullivan:© Copyright 2015 NATIONAL ASSOCIATION OF REALTORS®

 
What do I mean when I say MLS?

What do I mean when I say MLS?

by | Mar 3, 2015 | Buying, Home buying, Real Estate, Selling

Odds are you’ve spent a little time online searching for homes. After all, most home searches begin online. You may have even used a broker’s website or a site like Trulia or Zillow to help you browse listings.

But where does listing information come from?

Way back in the day, prior to the Information Age revolution, brokers used to gather and exchange information about their properties. The idea was fairly straightforward: I’ll help you sell your properties if you help me sell mine. It’s a “private offer of cooperation and compensation.” Cooperation meant the real estate industry could thrive and buyers and sellers could enjoy smoother transactions.

This spirit of cooperation gave rise to Multiple Listing Service(s) (MLS). By consolidating information about housing inventory in an MLS, listing brokers and buyers’ brokers can easily share up-to-date information about homes on the market. Though an MLS is typically a private database available to brokers, much of the information is syndicated to outside sites in the interest of casting wider net for buyers and sellers.

As an MLS is the primary source of information about a property, it tends to be the most accurate. It may also contain private information for use by brokers only, such as times the home is available for showings and seller contact information.

There are upwards of 850 MLS databases in the U.S. alone, and to a certain extent, there is market pressure to centralize these into a national MLS database. We’re sure to see changes in how Multiple Listing Services are used in the future, but the core benefits to home sellers and buyers is sure to remain.

Ready to put the power of an MLS to work for you? Search with me today for homes on the market right now. I’d be happy to help you find your next home:

Marcos Fullana 786-385-8342 or email: mk@choiceone.us.Marcos Fullana 786-385-8342

What Not to Do as a New Homeowner

What Not to Do as a New Homeowner

by | Mar 3, 2015 | Homeownership

If you’re new to homeownership, you’ll definitely want to avoid these easy-to-prevent mistakes that could cost you big time.

We know so well the thrill of owning your own house — but don’t let the excitement cause you to overlook the basics. We’ve gathered up a half dozen classic boo-boos new homeowners often commit — and give you some insight on why each is critically important to avoid.

1. Not Knowing Where the Main Water Shutoff Valve Is

Water from a burst or broken plumbing pipe can spew dozens of gallons into your home’s interior in a matter of minutes, soaking everything in sight — including drywall, flooring, and valuables. In fact, water damage is one of the most common of all household insurance claims.

Quick-twitch reaction is needed to stave off a major bummer. Before disaster hits, find your water shutoff valve, which will be located where a water main enters your house. Make sure everyone knows where it’s located and how to close the valve. A little penetrating oil on the valve stem makes sure it’ll work when you need it to.

2. Not Calling 811 Before Digging a Hole

Ah, spring! You’re so ready to dig into your new yard and plant bushes and build that fence. But don’t — not until you’ve dialed 811, the national dig-safely hotline. The hotline will contact all your local utilities who will then come to your property — often within a day — to mark the location of underground pipes, cables, and wires.

This free service keeps you safe and helps avoid costly repairs. In many states, calling 811 is the law, so you’ll also avoid fines.

3. Not Checking the Slope of Foundation Soil

The ground around your foundation should slope away from your house at least 6 inches over 10 feet. Why? To make sure that water from rain and melting snow doesn’t soak the soil around your foundation walls, building up pressure that can cause leaks and crack your foundation, leading to mega-expensive repairs.

This kind of water damage doesn’t happen overnight — it’s accumulative — so the sooner you get after it, the better (and smarter) you’ll be. While you’re at it, make sure downspouts extend at least 5 feet away from your house.

Related: How to Prevent Water Damage

4. Not Knowing the Depth of Attic Insulation

This goes hand-in-hand with not knowing where your attic access is located, so let’s start there. Find the ceiling hatch, typically a square area framed with molding in a hallway or closet ceiling. Push the hatch cover straight up. Get a ladder and check out the depth of the insulation. If you can see the tops of joists, you definitely don’t have enough.

The recommended insulation for most attics is about R-38 or 10 to 14 inches deep, depending on the type of insulation you choose. BTW, is your hatch insulated, too? Use 4-inch-thick foam board glued to the top.

Related: Attic Air Leaks: How to Find and Seal Them

5. Carelessly Drilling into Walls

Hanging shelves, closet systems, and artwork means drilling into your walls — but do you know what’s back there? Hidden inside your walls are plumbing pipes, ductwork, wires, and cables.

You can check for some stuff with a stud sensor — a $25 battery-operated tool that detects changes in density to sniff out studs, cables, and ducts.

But stud sensors aren’t foolproof. Protect yourself by drilling only 1¼ inches deep max — enough to clear drywall and plaster but not deep enough to reach most wires and pipes.

Household wiring runs horizontally from outlet to outlet about 8 inches to 2 feet from the floor, so that’s a no-drill zone. Stay clear of vertical locations above and below wall switches — wiring runs along studs to reach switches.

6. Cutting Down a Tree

The risk isn’t worth it. Even small trees can fall awkwardly, damaging your house, property, or your neighbor’s property. In some locales, you have to obtain a permit first. Cutting down a tree is an art that’s best left to a professional tree service.

Plus, trees help preserve property values and provide shade that cuts energy bills. So think twice before going all Paul Bunyan.

 
By: John Riha:© Copyright 2015 NATIONAL ASSOCIATION OF REALTORS®

The 7 Most-Needed Repair Tips Every Homeowner Should Know

The 7 Most-Needed Repair Tips Every Homeowner Should Know

by | Mar 3, 2015 | Homeownership

Published: February 18, 2015

Relax. Here’s how to make short work of every common repair annoyance from a leaky toilet to a sticky window.

1. Fix a leaky toilet.

Running toilets not only rob sleep, they waste water and jack up your bill. Here’s how to change a flapper — the usual suspect — and solve other likely problems.

Related: How to Fix a Sweaty Toilet

2. Repair drywall holes.

The hardest part of drywall repair is making the patch flush with the existing wall. A “pumpkin patch” is an easy repair that cuts down on sanding.

Related: Another Clever Way to Fix Drywall — with Makeup Sponges!

3. Adjust cabinet doors.

Changes in humidity can make cabinet doors rub, refuse to close, or just look cockeyed. Adjusting them is easy and generally requires only a screwdriver.

4. Open a stuck window.

Windows stick when paint, dust, or moisture builds. Use a utility knife (or a pizza cutter) to remove old paint. Be careful not to gouge the wood sash. If high humidity is making windows hard to move, run a humidifier that sucks moisture out of air.

Related: Save Money with Window Repair Tips

5. Stop a leaking faucet.

A dripping faucet can waste 5 gallons of water per day. If you can’t replace the faulty part immediately, tie a string around the faucet and let it fall into the drain: Dripping water will silently flow down the string.

6. Silence door squeaks.

Take the squeak out of doors by lubricating top and bottom hinges with a little WD-40 or white lithium grease. If you don’t have any on hand, olive oil is a quick but temporary fix.

7. Turn off the main water line.

Don’t wait until water gushes into your house to search for the main water line. When things

 

By: Lisa Kaplan Gordon: Copyright 2015 NATIONAL ASSOCIATION OF REALTORS®

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