Winter’s Coming

You have no doubt noticed the weather is getting colder. What does this mean for your home? It means preparation! Daylight Savings Time is a great time to get that prep in gear.

Freezing temps are the most pressing winter issue and can create a host of issues around, and to, your home. Let’s address as many as we can!

• If you have water pipes exposed to outside air, be sure and leave your faucets on just enough to allow a steady stream of water flow to prevent freezing, and bursting, pipes. This is by far the most prevalent source of winter home damage.

• Gutters filled with debris can block up water that, when frozen, can cause them to warp and crack as well as impact the roof and cause leaks. Have them cleaned out professionally or do it yourself as safely as you can 

• Caulk any openings that have developed around doorways or windows, this will keep drafts down as well as keep that all important electric bill as low as possible.

•Have your furnace and chimney serviced at least once a year, and there is no better time than when they are about to be put to use.

• It’s always a good time to test your smoke detector(s), so use this opportunity to check or change out the batteries.

• Ice can wreak havoc on trees, which can cause roof or powerline damage. Try to spot potential weak areas and have them trimmed professionally.

• It’s time to put those garden hoses away! Drain them and put them away so they are ready to go in spring.

Now that you’ve taken care of those winter prep chores it’s time to relax and begin to enjoy the GOOD parts of the season, the holidays!

The Powerful Appeal of Curb Appeal

Before anyone sees the inside of your home, they see the outside.

For some that’s all they will ever see. It is important then to have it look its best, and never is this more important than when you are selling your home.

Ever see a ‘For Sale’ sign in front of a house with knee high grass and weeds on the lawn, overgrown bushes and hedges blocking the view of the home? If you were looking to buy a home, would you be compelled to stop and have a look around or flee in horror? While grass can easily be cut, and hedges trimmed, it creates an aesthetic barrier that will keep potential buyers away.

There are some common-sense approaches to improving your home’s visual appeal, and some that might not seem as obvious. Here are some good ideas:

 • Mow the lawn! This qualifies as the most obvious, and easiest, thing to do so by all means do it! You don’t have to have a greens-keepers keen eye for detail, a nice cut once every week or two gives the home a cared-for look that buyers will appreciate.

• Trim bushes and/or hedges, weed and mulch flower beds. Cutting back wild branches, especially at window level, can really enhance the look of your home. Like a nice haircut can attract compliments, this too will catch the attention of potential buyers. In terms of flowerbeds, few things are more prone to elicit ‘oohs’ and ‘ahs’ like a fresh coat of dark brown or red mulch.

• Create an inviting front porch. A fresh coat of paint on front door trim, and even painting the door itself, can really make a home pop. If you have room create a seating area, even if it is just a single chair, to give it a pleasant lived-in look. Seasonal decorations are always a great idea, think pumpkins and cornstalks in the fall, or flowers in decorative pots in the spring and summer.

• Clearly visible house numbers. This is such a small thing, and inexpensive, but it can impress first time visitors. Let the first words upon their arrival be ‘Here it is!’ and not ‘Is this the right place?’. There can be no overestimating the power of a positive first impression!

• Paint, install, or repair light fixtures. Some potential buyers don’t have the time to look at houses during daylight hours, especially during those short winter days, and arriving at a dark and impossible to see home can be a real let down. You don’t need to install Hollywood spotlights, but something that showcases the front of the house, and side or garage, can definitely look inviting and have them return for a better look during the day.

• Power wash what you can! Sidewalks, a paved driveway, siding, and even your roof can definitely make your home pop. Even if the places in question are covered in mold or grime odds are years of soot, dirt, and other buildup have dulled the true color beneath. Hiring a professional or just renting a unit yourself are both affordable and can really produce impressive results.

• Tidy up around carports, garages, and side areas. Face it, we are all guilty of having an area of the yard accumulate trash cans, abandoned projects, lawn chairs, and other objects that can detract from an otherwise clean looking landscape. Clean it up!

• Hang bird feeders, lots of bird feeders! Okay, this one is maybe optional, BUT potential homeowners spotted a wide array of birds living at your home will most likely impress. Some folks have never, or rarely, seen hummingbirds and they are one of the easiest birds to attract. Having a feeder or three in place near the front of the home during spring and summer can really be a fantastic conversation starter that makes every visitor feel impressed and at ease.

• Paint, paint, paint! Paint shutters, trim, patios, porches, and outdoor furniture. A fresh coat of paint can add vibrance and excitement. Choose colors that accent one another and their surroundings. Bright red, properly placed, can be a terrific focal point for viewers of your home.

This is not a complete list of how you can increase your home’s eye appeal, but it contains a lot of great ideas for you to consider. The old adage is true: You never have a second chance to make a first a first impression. Make sure when selling your home that you pay attention to the powerful appeal of curb appeal!

If you are looking to sell or buy a home call RENOMAX Real Estate at 540-737-5617, or visit https://www.renomaxva.com/. We help maximize your home’s exposure, list your home absolutely FREE, and bring you qualified buyers.

The Foreclosure Moratorium Has Ended.

What now?

 COVID-19 caused a tremendous amount of disruption to American life which led to many institutions, and the federal government, placing a moratorium on evictions for those who could not pay their mortgages on time. In the end 18 months of payment delays were allowed but that period has ended, or will be ending soon if the loan was federally backed.

 According to Fox Business, mortgage delinquency rates fell to 4.14% in July, which is half of where they were in May. While that is a large and positive improvement, roughly 1.45 million homeowners are still at least 90 days delinquent on their mortgage payments.

 The good news is that banks don’t appear to be chomping at the bit to foreclose. Many will work with homeowners so that the entire past-due amount isn’t required up front. Some banks are even voluntarily extending their forbearance period.

This isn’t to say that foreclosures are not happening, or won’t soon. If you are nearing the end of a forbearance the best thing to do is reach out to your lender as soon as possible and discuss options and next steps. Showing that you are on top of it and ready to take control can make a difference to a business overwhelmed with others who may be trying to avoid the conversation altogether.

A lot of banks will place past-due payments on the back end of the mortgage giving homeowners a tremendous amount of breathing room, although this does of course extend the original pay-off timeframe. For many who were out of work or unable to pay on their mortgage for other reasons this has been an incredibly beneficial lifeline.

Okay, but what if you ARE foreclosed on?

Just because you are being foreclosed on does not mean all is lost. You can get a foreclosure lawyer that may help you find other options, or that could spot errors made by the lender that could buy you more time.

Following a foreclosure notice you also still have a chance to pay back the past-due amount, if that becomes an option. In the Commonwealth of Virginia, the lender or trustee has to serve the homeowner with a notice at least 14 days ahead of a foreclosure sale. This means you do have that window of time in which to sell the home yourself.

If you find yourself nearing the end of forbearance and are interested in more options RENOMAX Real Estate has solutions.

With the RENOMAX program we renovate your home so that it sells for more, offer up to $2,500 to assist with mortgage/rent payments, security deposits, moving and storage expenses, as well as list it for free and with no upfront cost to you – we get paid at the closing table.

The idea of being foreclosed on can be frightening but it doesn’t mean you don’t have options. If your forbearance is nearing an end, or if you fear foreclosure is in your future, call  540-737-5617, or visit https://www.renomaxva.com/ to see how we can help.

How Hot Is The Housing Market?

Well, hot, to put it mildly. The Chief Economist for the National Association of REALTORS, Lawrence Yun, said “We’ve never seen price appreciation of this magnitude” with the median home price from May 2020 to May 2021 increasing nearly 24%, to roughly $350,300. That is quite a statement, and quite a figure.

What Does This Mean For The Market?

What it means is a tremendous amount of activity. Potential homebuyers are looking at more properties in many cases, because sales are happening faster than usual. Sellers are urgently hopping into the market trying to strike while the iron is hot. Real Estate agents are trying to be in multiple places at once. That’s the case in some instances, but in others…

High prices are making some potential buyers take a breather, meaning competition has lightened up a bit in some areas. Low mortgage rates, normally a big incentivizer for home buyers, is not having the usual effect. With home prices below $300,000 being scooped up almost as quickly as they hit the market, buyer fatigue has worn some folks down.

 In short, a robust market is driving prices up at a rapid pace and attracting many new buyers and sellers, while also driving others away.

What Does This Mean For Me?

If you are a buyer, it means approach the market with a measure of patience. Homes are out there, but inventory is still not as bountiful as it was pre-2020. With competition lessening there will be more opportunities for you to find your dream home than there were this time last year.

 If you are a seller on the other hand, you are probably still in the driver’s seat. Even with less people crowding the buyer market there are still more people looking for homes today than in previous years. If your home falls in that $300,000 range you are definitely going to find multiple bidders, and may find your home going for more than you anticipated which is always a good thing. Taking care of needed repairs and updating areas such as kitchens and bathrooms will only see your profit go higher.

What Does The Future Hold?

June saw new listings up by over 5%, so things are slowly going to get back to normal. 2021 will still be a seller’s market, but it won’t be nearly as lopsided as we’ve seen over the last year. Interest rates are still very low, and many people are going to be trying to take advantage of this over the course of the year.

If you are looking to sell or buy a home call RENOMAX Real Estate at 540-737-5617, or visit https://www.renomaxva.com/. These are interesting times and the market can look overwhelming, but we can help you find the best course of action.

Avoid this Mistake When Selling Your Home!

One of the biggest mistakes home sellers can make is sinking too much money into their home before selling it.

While it's a good idea to make the needed home repairs, modernizations, and touch-ups, full renovations rarely pay off - and it's all too easy to fall into a renovation trap before you sell your home. Here's a quick guide for each area of your home!

The Walls

It's a great idea to throw a fresh, neutral coat of paint on any older, out-of-style, or tinted walls. However, if you find yourself putting up wallpaper, installing board-and-batten, or demolishing the wall altogether... you've gone too far! 

The Floors

Grouting, cleaning, repairing, or polishing the floors throughout your home is an easy-to-do project that can yield a great return and impress potential buyers. However installing all new floors throughout the home when needed will also yield a great return so long as you are using a cost effective product.

The Yard

Definitely mow the lawn, trim the bushes and throw down some mulch. Curb appeal can goes a long way towards selling your home. Yard work may take some time and effort, but is an inexpensive way to increase your selling price. However, do not install new fixtures or hardscape before selling - leave the new homeowners a nice, blank slate.

The Exterior

Again.. curb appeal makes a big deal! Pressure wash the siding of your home and be sure to repair any damage. Feel free to modernize the shutters, and clean those gutters. Do not, however, replace the siding or windows unless they are damaged.

The Interior

There's an age-old debate between staging rooms or leaving them bare, and you and your agent need to use your best judgment here. However, as we mentioned above - when you are selling your house, it's a terrible time to tear out walls or expand/combine/ add new rooms.

A Big Caveat

Homes are not sold in a vacuum. You are competing against other houses in your neighborhood and price range. If your home is lacking in any of the above areas that we advised against renovating, you will need to reconsider. 

For instance - if your home is fully carpeted, that's gonna to have to go, despite usually being a low-ROI project. Carpeted floors are from a bygone era, and very few homes will sell with carpet installed. In this case, the ROI would be much improved.

How to Decide Which Renovations are Worth It

Be sure to repair everything that NEEDS repairs. Not only will unresolved issues lower the interest in your home, but if they are severe enough, will keep your home from selling at all.

For the rest of it? Follow this advice, the council of your agent, and use your best judgment! Alternatively... this sort of thing is exactly what RENOMAX does. If you're unsure on how to properly tackle your home's renovations before selling, we can help, and we'd love to be your partner.

It starts with a call! You can reach us at (540) 737-5617, fill out the form below, or message us on Facebook. We look forward to hearing from you!

June Home Selling Trends

As we mentioned in a previous blog - June is always one of the hottest months of the year to sell your home. On top of that, if you've been following the housing market since the start of the pandemic you already know that the market has been white hot. Put those two factors together, and you've got a recipe for an extremely quick sale! Here's what you can expect in June.

Inventory Will Increase

The pandemic slowed the whole economy down, and the housing market was no exception. There were more buyers in the market ever (thanks to many folks opting to move out of their apartments), but the amount of houses on the market remained low.

However, lockdowns and mandates are falling across the country, the number of vaccinated is rising, and an economic recovery is on the horizon.

In fact, the market recovery has already started. In April 2021, close to 33% more homes were listed. A recent survey revealed that 45% of would-be sellers are planning to list their home this month.

So basic economics would say that with a larger supply of homes, the demand would go down, and therefore so would the price... right? Usually... but this month, that might not be the case!

Home Prices Will Stay Competitive, and Mortgage Rates Will Stay Near Historic Lows

It's been a seller's market for close to a year now. Last year many prospective home buyers, discouraged by the savagery of competition for homes and ballooned selling prices, simply decided to put off their purchase until next year. Well, it IS next year! We think that their pent up demand will be unleashed as a huge influx of homes hit the market, which means prices should stay competitive throughout June and the rest of the summer.

Additionally, the material shortage means that fewer new construction homes are able to be built, and the asking price will be higher than first time buyers are able to swallow. That means, once again, a hotter market for those selling their current homes.

As far as rates? While they aren't as rock bottom low for buyers as they were in the middle of the pandemic, they are still very low compared to historical averages. 2 weeks ago, the interest rate on a 30-year fixed-rate loan was 3.13% - which is 20% lower than it was in the years prior to the pandemic.

All this points to an increase in buyers to go along with the increase in inventory - which means prices should stay relatively the same.

What This Means to You

It means that it's an incredibly good time to sell, and we'd like to help you with that. We are experts in renovating and selling homes quickly, and are well equipped to get you top dollar in this hot market. But the time is now.... so if we can help, get in touch! Call us at (540) 737-5617, fill out the form below, message us on Facebook.

Good luck out there! 

The Hidden Costs of Selling Your Home

Choosing to sell your home is a huge financial decision, and for most people, it represents the biggest incoming transfer of money in their lifetimes. However, many people are disappointed to find that the price you sell your home for isn't the amount that you'll deposit into your bank account (or apply towards a new home.) There are hidden costs to selling your home, and you need to be aware. Let's take a look!  

Representation

You probably figured that you have to pay your agents commission... but you didn't know that sellers are typically on the hook for the buyer's agent's commission too. In all, you're generally looking at paying out 5-6% of your home's total listing value to the agents.

Our Money Saving Tips:

• Negotiate with your listing agent on commission. For instance, RENOMAX VA is proud to offer 0% listing commissions when you use the RENOMAX Program. Other agents might be willing to lower their commission if you use them to buy your next home.

• Take on some of the work yourself. Any listing work you're willing to take on yourself is work the listing agent shouldn't charge commission for!

• Shop around. While listing commissions are fairly standard, be sure to talk to a few different agents to see if they are willing to offer a better percentage.

Saving money can be hard work!

Presale repairs

Your home will almost certainly need repairs before listing. Minor issues can turn off potentially interested buyers, and major issues will keep prospective buyers from even visiting.

As a homeowner, we don't need to tell you that these repairs can be expensive.

Our Money Saving Tips:

• Go back in time and do the work! We know, we know - this advice isn't a ton of help if you're already in the hole on repairs. However, for those of you who aren't selling for a little while, here's a great tip: fix issues as they arise, and plan to spend at least 1% of your home's total price on repairs each year.

• Bundle. Getting one contracting outfit to do all of your repairs can save you some money overall.

• DIY. First and foremost: we do NOT recommend DIY solutions to plumbing, HVAC, and electrical problems. However, for many other fixes, a bit of time on YouTube and the willingness to get your hands dirty can save you a ton of money.

As they say, an ounce of prevention is worth a pound of cure. Keeping up with your home's maintenance can be expensive, but you will actually save money long term.

Home Improvements

The majority of homeowners undertake a medium to large scale renovation or improvement on their home prior to selling. Generally, the buyers are trying to fetch a higher listing price, sell their home faster, or simply remain competitive with other homes in the neighborhood. This is a great approach, but can be a costly one.

Our Money Saving Tips

• Do your research. Not every home improvement has a great ROI - in fact, many of them actually lose money. Check out our blog on Home Improvement ROIs before planning anything major!

• Skip the interior. By all means, stage your home (see below). However, buyers want a blank slate when buying a home. They want to create their dream home, not live in yours!

• Curb appeal. Hardscaping and lawn services have a fantastic ROI!

• DIY. like most things on this blog, taking care of home improvements by yourself (if qualified) can save a lot of money.

Home improvements are absolutely a great thing to do to your home before selling. However, they need to be the right ones.

Staging

Nothing is more polarizing in the home selling world than staging. Some people think a fully furnished, lived in display in each room of a home is mandatory to make the sale. Others swear that a tabula rasa, that allows buyers to use their imagination, is the fastest way to get an offer. 

Our Money Saving Tips

• A hybrid approach. Stage only the rooms that are most important to buyers: the living room and the kitchen. Leave the rest to their imagination.

• Less is more. A good staging should emphasize the space and angles of the interior of your home. A minimalistic approach will save you money, as well.

• Your style is not theirs. You may love the color pink - but adorning every surface and wall of your home with it will drive buyers away (unless they share your affinity!) Again - less is more, and we recommend neutral colors throughout the home.

When in doubt, give everything a deep clean and leave it empty! 

Closing fees

When you think of closing fees, you generally think of what the buyer pays when closing on your home. However, sellers have closing fees as well - such as property taxes, attorney fees, and transfer taxes.

Our Money Saving Tips:

• Negotiate with the buyer. It's a seller's market right now, and you absolutely have some leverage with prospective buyers on these fees. You could ask someone that came in lower to cover all of your closing costs instead of taking a higher offer.

• Shop around. Your agent likely has folks they work with and recommend... but you're not required to use them. Feel free to shop around to see if there are any better prices!

Beware the Hidden Costs of Selling Your Home!

We hope you found this blog helpful. If this all sounds like more work than you're ready for, get in touch - we'll work with you on each and every one of these hidden costs to make sure you're getting the most out of your home sale. 

If we can help, get in touch. Give us a ring at (540) 737-5617, fill out a form on our contact page, or just message us on Facebook. We look forward to hearing from you!

Choosing The Right Agent to Sell Your Home

Hiring an agent to sell your home is a big decision, and there are often high stakes involved in your choice. There are so many options out there... how do you tell which one will be the best for you and your specific home selling situation? 

Get a Referral

While you can certainly just hop on Google and search for a real estate agent to sell your home, it will take a long, long time to sift through all the options - and be prepared for a barrage of incoming calls and texts if you start submitting forms everywhere online.

We recommend you talk to some local friends, family, or coworkers and work up a list of agents that they had good or bad experiences with to narrow down your search.

Interview

Once you've gotten a few referrals from trusted sources, it's interview time! This doesn't have to be anything too formal, but you want to make sure they have experience selling in your neighborhood and city, and understand the full extent of your home selling situation before agreeing to terms.

Choose the Agent, Not the Firm

Your agent will be the person you work with day-in and day-out to get your house ready to be sold, listed, and closed. Be sure to choose them based off of who they are, not who they represent. There are pros and cons to both the big real estate agencies and the one-man-shops, so choose the agent you think will do the best job for your particular selling situation, not their firm. 

Compassion, Patience and Communication

Whether it's your first time selling your home or tenth, it's a trying, stressful, process. You need an agent that understands the stressors you'll face, and be patient with you during inevitable moments of panic... whenever they might occur!

While we certainly don't recommend blowing up your potential agent's phone, you should absolutely be able to reach out to them during off-work-hours and get a timely response. If it's 5:31 pm and you can't reach your potential agent, you might want to scratch them off the list.

Aligned Interests

Is your agent in it only to get his or her commission, or does he or she really want to help you sell your home? Those two go hand-in-hand, sure, but there can be some big differences.

You don't want to work with someone who just looks at your home as a quick payday before they're on to the next client. You want to work with someone who has a vested interest in making your home selling experience as smooth, stress-free, and lucrative as possible for you.

One of the best things about choosing RENOMAX's Program is that we invest our business into you and your home. We provide up to $25,000 for renovations for your home, complete those renovations ourselves (we're a licensed contractor!) and then list your home for free. We'll work with buyers to get your home sold, and we get paid when your home closes.

Instead of just being our client, you become our partner - and as your partner, we're as invested in selling your home as you are.

Get in Touch

We think that RENOMAX is a great option for selling your home. However, whether you choose us or another agency, we hope your experience is smooth and enjoyable.

If you'd like to work with us, call (540) 737-5617, fill out a form on our contact page, or just send a message to us on Facebook. We look forward to hearing from you!

May & June are Great Months to Sell

May and June are the best months of the year to sell your home, with many houses fetching more than an 11% higher premium than their estimated market value. Combine that with the hottest housing market in years, and now.... right now, is a great time to list your home! Keep reading to learn why May and June are such great months to sell and how RENOMAX can sell your home quickly, for a great return.

The Best Time of the Year to Sell

What makes May and June such a good time to sell your home? Demand! Buyers, especially families with school-age children, enter the market en-masse in April, May and June. 

The reason for this timing is simple - nobody wants to move during the holidays or move their kids in the middle of a school semester!

So as more and more families enter the market, they compete with each other for homes -  giving home sellers the opportunity to go with the highest bid.

But This Isn't Just Any Year...

While May and June are well known to be the most profitable months of the year to sell your home, all the craziness leading up to 2021 has upped the ante even higher... and the following factors have sparked a historic run on housing:

• The pandemic and resulting cabin fever

• The shift for many to working from home

• The stimulus checks helping to fill up a down payment fund

• Incredibly low mortgage rates

All of these have combined to equate to an average increase of $35,000 (Comparing the months so far in 2021 to 2020).  

So, right now generally the best time of the year to sell your home, in one of the best years in decades to sell your home. However, it won't last forever, and while we're not predicting a bubble bursting... if you're looking to flip or sell your home for profit, now is the time to get started.

How We Can Help

RENOMAX's selling program puts all the tools you need at your disposal to sell your home incredibly FAST. Learn more about the RENOMAX Program here! We'd love to work with you. If you have questions, get in touch! Give us a ring at (540) 737-5617, head over to our contact page to contact us online, or send us a direct message on Facebook. Let's get to work!

For Sale By Owner? Avoid These Home Selling Mistakes!

Are you selling, or thinking about selling your home yourself? That's great! It's a pretty extensive process, but we think you can pull it off! We're here to help, whether you work with RENOMAX or not, and we've got some common mistakes for you to avoid when going through the home selling process. Keep reading.

Arbitrary Pricing

Problem: You know what you paid for your home, and you might know what you want to sell it for,  but that's not nearly enough to set a price.

Solution. Hit the sheets! Take a look at the many online real estate listing services (such as Zillow, Trulia, Redfin, etc.) to research comparable homes nearby. You want to strike a balance between maximizing your profit and getting the house sold in a reasonable timeframe.

Oversharing

Problem: You feel like you're talking the whole time prospective home buyers visit. You're doing your best to be helpful and answer all of their questions, but they get quieter and quieter as the showing goes on.

Solution: Buyers want to feel comfortable, relaxed, and at home during the showing. Answer any questions they have truthfully and honestly, but avoid oversharing and taking over the conversation - and avoid sharing memories! Buyers are there to find a place to create their own memories, not hear about how you made yours in the home. 

Taking Bad, Deceptive, or Too Few Pictures

Problem: Your listing isn't getting much traction, even though you've priced it correctly. Worse, prospective buyers are confused about the spaces and views that your home provides.

Solution: Take better pictures! You don't need to be a professional photographer, but you'd be surprised how many home sellers think their job is done after 2 exterior shots and one per room. People will judge your home first by its price, and then by its pictures, and if both aren't on-point, you'll have trouble getting them through the door.

Here is a guide to taking better home listing pictures.

Extra Tip: Don't take deceptive photos of your home or property. It can be tempting to take photos that purposefully omit an issue with the home or surrounding property, but the buyer will notice it - and buyers don't like feeling lied to by the person that wants to sell them their home.

Sparing the details

Problem: Buyers are unaware of many of your homes features and the entire showing turns into a Q&A.

Solution: You need a well-written description of your home. You don't need to go into the minutia, but this (as opposed to during the showing) is your chance to go into detail about all the features your home provides and all the upgrades you've done. 

Hiding a Property Defect

Problem: You're concerned if you disclose a defect your property has, your home will sell for less or not at all.

Solution: Disclose any property defects to buyers. Sooner or later, the defect will be found anyway... better up front then at the negotiating table, when you'll suddenly be faced with either selling for a drastically reduced price or having to relist your home. Additionally, Sellers can be held legally responsible for property defects serious enough to cause issues to the new buyers, even after the sale, if the defects were not shared.

Not Putting Up a For Sale Sign

Problem: You're a private person, and you don't want to put a For Sale sign in front of your home.

Solution: We're sorry, but you're going to have to deal with it. For Sale signs provide great visibility and word-of-mouth reach for your home... as in "You're looking to move into our neighborhood? A house just down the street is for sale!" On top of that, it will help the folks that have already scheduled showings find your house in the first place. 

Neglecting Your Yard

Problem: Your yard has seen better days, but you don't think it's that big of a deal.

Solution: Bust out that weedwhacker and get to work! Curb appeal is a huge part of the decision making process for many home buyers, and studies show a less valuable home with a well manicured yard can punch above its weight class when it comes to price.

Taking Someone's Word For It

Problem: Your buyer has committed to buying your home, but so far hasn't put ink to paper.

Solution: Get everything you can in writing. Doesn't matter if it's a family member, friend, or total stranger - if they (and you) are not putting it on paper and signing your name to it, it's not legally true.   

Not Asking for Pre-Approvals

Problem: You've had a couple express serious interest in your property, but you don't know if they are even able to buy it.

Solution: Serious and credible buyers usually have a mortgage pre-approval. Getting one is not a difficult process, so don't be afraid to ask folks that have expressed interest if they have one or can get one before spending more and more of your time trying to sell them on your home.

Not Having The Paperwork

Problem: You aren't sure where the property survey, applicable warranties, or other important paperwork is.

Solution: Find it BEFORE you list your home, or, if it's too late for that - start the process now. Don't let the paperwork be the thing that causes delays or keeps you from the finish line!

We're Here to Help!

We hope you found this to be helpful! Good luck on your home selling process.

One last piece of advice, though:

One of the biggest mistakes you can make when selling your own home is not putting in the effort. If you can't go all-in on selling your home... we're happy to help! We offer an incredibly valuable selling program that can take all the project's legwork off of your plate.

If you're interested in hearing what we have to offer, give us a ring at (540) 737-5617, reach out on our contact page, or message us on Facebook.

How to Sell Your Home Quickly

Very few of us have the luxury of, or patience for, having the home you want to sell sit on the market for months and months. Sometimes you need to be out of your home ASAP to start a new job or new assignment, and sometimes you just can't wait to move in to your new home. Whatever the situation is... if you want your home sold quickly, we've come up with some great advice that can help. Read on!  

Choose the Right Agent

The right agent can make all the difference. You want a realtor that is as motivated as you are to sell your home - not just someone that will coordinate walkthroughs and add your home to some listings.

Stage Your Home

We mentioned this in another blog, but it's always good advice: buyers don't want to move in to your home... they want to move in to theirs! They want to take the living space and make it their own, with their own style and personal touches. 

You want buyers to be able to envision what their life would be like in their future home. To do that, you need to remove the personal touches you've made on the home during your time living there.

We recommend renting a storage unit before listing your home to store all the stuff that might prevent a prospective buyer from feeling at home. Additionally, work with your agent to set your home up for success. 

Get Professional Pictures Taken

They say a picture is worth a thousand words, but we think when it comes to selling your home, pictures may be worth even more than that. They are the very first impression a buyer will get of your home, and if your photos aren't stellar, most prospective buyers will move on without a second look.

Hiring a professional home photographer is one of the highest ROI decisions you can make in terms of both selling the home quickly and for a better price.

Price it Accordingly

Look, we get it - you want to make the highest return possible on your investment. However, pricing a home for more than the market is willing to pay can significantly slow down the home selling process... or prevent it entirely.

Work with your agent (that's what they are there for!) and factor in your timeline to determine a fair price on your home.

Get Feedback

This is an often overlooked step, especially on sales that need a short turnaround... but feedback is crucial. You need to know what folks liked/didn't like about your home in order to address or emphasize those aspects. Certain things may be out of your control, but it's always worth it to get feedback anyway. 

Hire RENOMAX!

On average, a home will sell in about 2 and a half months. If you can't wait that long, and don't have the time to follow the advice above... it's time to call in the pros at RENOMAX! 

As an agent and licensed contractor with years and years of experience in both fields, we're ready and able to take the whole project off your hands, and get your home sold quickly. 

Good Luck!

We hope you're able to use this advice to help you sell your home quickly. If we can help, get in touch! You can reach us by calling or texting at (540) 737-5617, email us at info@renomaxva.com , or just send us a message on Facebook. Thanks for reading!

Get a Better Listing Price with these Home Remodels!

We all want the absolute top dollar we can get for our home. That's why many homeowners undertake major renovations and remodeling projects prior to listing.

However, our experience on both the remodeling/renovation side and the real estate agent side has taught us that not all home remodeling projects are created equal. In fact, some even have a negative ROI - which means your money is better spent elsewhere. So how do you know which way to go? Well, if you're the DIY type... keep reading! If you're not interested in putting in the elbow grease yourself, let us know... we can help. Either way, let's take a look at some of the best home remodeling projects... as well at the thought processes behind them!

Sometimes It's About Staying Competitive

As mentioned above, sometimes it's not about getting a boost in how much your house sells for, it's about making sure you can even get a fair price in a competitive market. All too often, otherwise great homes can take months to sell because of an extremely outdated room or area. When your home sits on the market, it's losing money.

If your home has a problem area, it's ideal to get that fixed and renovated before anything else. It might not earn you more bucks at closing but it will help to insure you aren't losing money instead. 

Kitchens and Bathrooms

There's a lot of confusion on remodeling and renovating bathrooms before listing. For most buyers, these rooms can be the most important part of the house. Because of this, some sellers rush to renovate these rooms first and foremost.

Here's the catch - most people aren't looking for your dream kitchen or bathroom... they're looking for theirs. They don't want a fixer-upper in these areas, and they don't want to tear out everything you just put in to make it feel more "them."

So our advice is this: unless your kitchen and bathrooms are in terrible shape or have a very dated look, either leave them as-is or focus on clean and easy-to-build-on updates. 

Renew Instead of Replace When You Can

When discussing ROI, it's easy to get caught up in the "R" part - the return. However, don't forget the investment! Three $100 projects that pay off in a listing price increase of $500 each are better ROIs then a $1k project that nets you $2k. So whenever possible, renew, repurpose, or refresh what you have instead of replacing it all. Sometimes that's as easy as a good pressure wash, a new paint job, or an overdue coat of sealant.

You know your home better than anyone, so you know all the little things that could use a spit-shine. Sweat the small stuff!

A Fresh Coat of Paint

Simple fixes sometimes are the best... and most profitable. That's why a fresh coat of paint can work wonders for getting your house sold quickly and at a better price. Warm, cheerful, bright colors can literally (by reflecting ambient light) light up a dimmer or smaller room, making it seem bigger and more appealing to potential buyers.

Just be sure to stay away from deep hues and dark colors, even if you think they'd be a good fit! 

Know Your Audience

We've touched on it a few times now, but it's worth going over in detail: you don't remodel a home to your tastes, you remodel your home to the greater market's taste. So when considering a project, don't get caught up in whether or not it's your style or something you'd do at your next home. Take some time to research current trends and consult with your listing agent to see what is selling right now, and plan your remodel accordingly.  

Avoid Remodels With Low Resale Values

Historically, certain remodeling projects just don't increase the value of your home enough to be worth it. That includes:

• Offices

• Attics

• Decks

• Patios

• Garages

• Additions (more on this below)

Additions increase the square footage of your home as well as its value and listing price, without question - but the cost to get them done is generally way too high to be very profitable in the end, unless the addition is to fix a problem area of your home (like a barely functional bathroom or bedroom). And the worst part? You don't even get to enjoy the extra space for long before you move. 

Leave the additions to the buyer after they've moved in to your old home. Spend your time and money on other more profitable projects!

Cost vs Recouped Value

You don't have to take just our word for it - Remodeling publishes a Cost vs. Value Report for free, every year, that you can check out. They even have different reports for each region, so you can further drill down what will be the best ROI in your area.

Remember, ROI can also be calculated with time. If you have 3 months to get a handful of projects done, you have to choose those can get actually get completed before your home hits the market. Keep that in mind!

Leave it to the Pros at RENOMAX!

If just reading all of these remodeling ideas has your head hurting and your back sore, let us help! Take a look at the RENOMAX program! As both a licensed contractor and real estate agency, we're able to renovate, remodel, list, and sell your home. You'll work directly with us, just one team, throughout the entire process. This makes it considerably easier and less stressful for you. Here are some other bonuses to our program:  

• We'll offer up to $25,000 to renovate your home (paint, flooring, curb appeal, kitchens, bathrooms, etc.) with no upfront cost to you.

• We schedule, coordinate and pay for your home’s renovations.

• We offer up to $2,500 to assist with mortgage/rent payments, security deposits, moving and storage expenses.

• We get paid when you do - at the closing table!

It's the perfect solution if you're looking for a hands-off way to remodel and then sell your home for more.

Contact Us

We hope you found this blog helpful! If we can be of any more assistance, please get in touch. Call our team at (540) 737-5617, contact us online, or send us a message on Facebook if you have any questions.

Good luck on your big remodeling project!

Selling Your Home In Foreclosure

If you’re wondering, “Can I sell my home when we are in foreclosure?”, the answer is yes. If your next question is, "When should I start the process?", the answer is right now!

Are you allowed to sell after a foreclosure notice?

First, let us say that we're sorry that you're in this situation. Times have been tough throughout the last year, and foreclosures - especially for workers that have lost their jobs due to the pandemic - are becoming more and more common in the greater Fredericksburg area.

We just want you to know that it's not the end of the world, and you still have options. If you have been unable to make your payments, and your mortgage company has begun the foreclosure process, you are still well within your rights to sell your home independently. In fact, if the reasons that caused you to fall short on your payments recently are going to be long-term issues, then selling your home might be the best option overall.

In fact, there's a chance that you might have the equity already built up in your home to help you out of your current financial troubles. The decision to sell your home because of financial issues may be a hard pill to swallow, but the most important thing for you now is regaining control of your economic future.

So... What Now?

If your lender has recently foreclosed on your home, we offer our sympathy, but more importantly: our advice. That advice is: get your home in selling shape and get it on the market immediately.

If you wait to list, and the foreclosure process proceeds, you won’t have time to prep the house for sale - which will lower your list price or prevent you from getting your home sold at all. Many people in this situation don't know where to start, and we're here to help. Here is what we recommend to get your home on the market ASAP!

Communicate Frequently with Your Lender

It may be tough to work with the people that are foreclosing on your home in the first place. However, they'd rather work with you and sell your house at market value than foreclose and sell your house at a loss, so you might be surprised at the resources they are able to offer. 

Speak to a Qualified Agent

Speak to a real estate agent once your plan is in motion. Ask your friends for recommendations, speak to your foreclosure lawyer to see if he has recommendations, or even ask your lender if they work with anyone locally in similar situations. 

Working with a qualified agent will significantly speed up and simplify the process for you. 

Have Your Home Appraised

Before you can sell your home, you need to know exactly what it's worth! Talk to your agent and get his recommendation on how to have your home appraised. You might even be able to work with your lender on a free appraisal (since they will have to appraise the home regardless).

Dollars and Cents

In order to make the most informed decision, you will need an up-to-date accounting of all of the money involved in the equation. By that, we mean:

• What you owe on your home (including penalties and late fees)

• How much it would cost you to sell (seller's fees)

• How much the home would sell for in the current market

• Whether you need to price your home aggressively (if your timetable is short)

Work with your agent and lender to come up with all the figures. That's what they are there for! Once you've balanced the books and found out how much you stand to gain from selling, it's time to list your home.

How Soon Will It Sell?

Selling a home that's in the foreclosure process is no different than a normal home sale. Additionally, there is no requirement (or reason) to disclose that your home might be foreclosed upon, so the buyer will treat your listing just like they would any other.  

Right now, it's unequivocally a seller's market. Which means you would be in the driver's seat if you choose to sell. That also means that, unless you have to price your home super aggressively to sell quickly, you could potentially sell your home for a profit before the bank forecloses on it. Doing so means you'll pay off your mortgage and walk away with some money to start over.

However, we find that many homes facing foreclosure need a lot of work to get sale-ready. That's where we come in. At RENOMAX, we specialize in taking situations like these and improving the outcome. Through our RENOMAX program, we pay the costs to renovate your home, and then do all the work to list and sell your home as fast as possible for the highest amount possible.

So let us know what we can do to help!

Get In Touch!

If your home is in foreclosure, you don't need us to tell you that you're in a tough spot. It's not the end of the world, however. Face this challenge head on, and you have the opportunity to come out on top, with enough cash for a fresh start.

Whether you want to renovate and then sell, or just sell ASAP, we would love to be your partner. Please give us a ring at (540) 737-5617, contact us online, or give us a shout on Facebook if you have any questions.

Stay, Rent, or Flip? The Airbnb Coronavirus Conundrum

All the complications that have come with 2020 have completely upended many industries, including real estate and travel/vacation. The instability in those two industries has hit the short term rental market (Airbnb and VRBO) especially hard - and for obvious reasons. The travel industry has seen restrictions come and go and come again, the economy has had issues, and consumers are wary about leaving the house without good reason. 

Needless to say, Airbnb owners and proprietors have had it rough. Many have adapted since the beginning of this whole thing, but with no end yet in sight (and uncertainty moving forward) it's time for every Airbnb owner to reassess their options and strategy. So, what are the most common courses of action for Airbnb owners in 2020 and 2021? We've come up with three: holding, renting, or cashing out!

Staying The Course

Everyone's financial situation is different, and those using their Airbnb as a side or secondary source of income, the best option is the easiest... and that's simply holding the course. While nobody knows yet how long this situation will last, it's not going to be forever... and if you can wait it out, you'll be in a great position when it finally ends.

Additionally, if you can adapt your property and accommodations to the current environment, you might still be able to generate some income. Things like weekly professional disinfections, guaranteed gaps between visitors, hand sanitation stations and procedures, no contact key exchange, etc., can give potential guests the peace-of-mind needed to keep your property generating income. 

Going Long

Converting your short-term rental property to a long-term rental property is another great option for some property owners. While wading into this part of the industry can be challenging - it has its own rewards. Namely, a steady payment every month from the tenant!

Keep in mind... the profit potential will almost certainly be less when changing from a short-term rental model to a long-term rental model. However, for those of you having issues finding visitors in the first place, that regular monthly rent payment can actually end up putting more money in your pocket. 

A nice go-between is offering 1 month, 3 month and 6 month rentals. Visiting contractors and consultants love the flexibility of these offerings. Additionally, people in between homes readily take advantage of these "medium-term" rentals. You might have to get a little creative to find renters in this way, but there are resources out there. We recommend heading over to Furnished Finder and getting started. 

Cashing Out

However, if you've made back your investment and are ready to get out of the Airbnb/short term rental industry, there's another great option.... Pushing in your chips and cashing out. It's obviously not a decision to come to lightly, but if your property is no longer profitable, and neither of the above solutions work for you, it's time to make a move.

As you probably already know, there's a ton of work that goes into selling a property. That's where we come in! Partnering with RENOMAX Real Estate to sell your Airbnb property is a great way to make sure you get the most out of your investment. We'll work with you to fully convert your rental property into a home for prospective buyers, pay for the renovations, and then work with you to sell it. Our RENOMAX Partner option couldn't be easier for Airbnb owners looking to get out of the game with a nice payday.

Get In Touch

It's been a rough year for Airbnb owners, to say the least... but no need to despair. You have short, medium, and long term options with your Airbnb property. If you choose to sell, we'd love to help. Give us a ring at (540) 737-5617, contact us online, or give us a shout on Facebook!

First Impressions

You never have a second chance to make a first impression. That is especially true when trying to sell a home. A spotless interior will wow potential buyers but an unkempt exterior will often keep them from even getting in the door.

Curb appeal is a major factor in drawing potential buyers in. A well-manicured lawn, such as cut grass and tidy bushes, pathways, and flower beds, can be quite inviting. Home buyers want to see what their possible future home can look like under the very best of circumstances, so be sure and show them!

Sometimes that exterior TLC is easy to take care of, but sometimes it isn’t. Time, money, or ability just may not be there to prepare a home in time. RENOMAX Real Estate’s Program can help with that. We offer up to $2,500 to complete any necessary work before or during the sale of your home with no upfront cost to you. We also offer up to $500 to assist with mortgage/rent payments, security deposits, moving and storage expenses. Best of all, we get paid when you do - at the closing table!

Think of your home as you, on a job interview. Your resume is important but so is how you present yourself. So put your best foot forward and make that great first impression!

Decisions, Decisions…

So you want to sell your home. Easy decision to make, perhaps, but not always easy to make happen.

You had wanted to remodel the kitchen, get that new roof, and repaint a few rooms but you just never got around to it. Deciding to sell the home in its present state, you contact a realtor and have an idea of what price you will be asking for, based on what other homes in the area have gone for recently. The realtor informs you that your number is unrealistic due to the amount of work that needs to go into the home. Their number is roughly $30,000 less than what you had in mind.

Decision time! Do you sell the home as-is, taking less away from the table than you had expected, or do you make the updates and repairs to the home you had intended to do before the sale? The answer is easy IF you have the time and money to take care of the things that need attention. But what if you don’t have the funds?

That’s where we come in. RENOMAX offers homeowners funding and contracting resources to make the repairs or upgrades happen. We base our program on your equity in the home, and do not get paid a cent until closing.

The process is simple: Provide us with information about the home and we will present you with a summary of what we can bring to the table. It will show you the amount of funds we can offer, where we think the best use of that money would go, the expected increase in sales price to the homeowner, and our fee, which we only see at closing.

If you are a homeowner looking to sell, or an agent with a listing that needs a good bit of TLC to fetch top dollar, give us a call at (540) 737-5617 and let’s talk about options.