If you’re thinking about buying a home, you may find yourself interested in the latest real estate headlines so you can have a pulse on all of the things that could impact your decision. If that’s the case, you’ve probably heard mention of investors, and wondered how they’re impacting the housing market right now. That could leave you asking yourself questions like:
How many homes do investors own?
Are institutional investors, like large Wall Street Firms, really buying up so many homes that the average person can’t find one?
To answer those questions, here’s the real story of what’s happening based on the data.
Let’s start with establishing how many single-family homes (SFHs) there are and what portion of those are rentals owned by investors. According to SFR Investor, which studies the single-family rental market in the United States, there are eighty-two million single-family homes in this country. But how many of them are actually rentals?
According to data shared in a recent post, sixty-eight million (82.93%) of those homes are owner-occupied – meaning the person who owns the home lives in it. If you subtract that sixty-eight million from the total number of single-family homes (82 million), that leaves just about fourteen million homes left that are single-family rentals (SFRs).
Do institutional investors own all of those remaining fourteen million homes? Not even close. Let’s take it one step further. There are four categories of investors:
The mom & pop investor who owns between 1-9 SFRs
The regional investor who owns between 10-99 SFRs
Smaller national investor who owns between 100-999 SFRs
The institutional investor who owns over 1,000 SFRs
These categories show that not all investors are large institutional investors. To help convey that even more clearly, here are the percentages of rental homes owned by each type of investor (see chart below):
As you can see in the chart, despite what the news and social media would have you believe, the green shows the vast majority are not owned by large institutional investors. Instead, most are owned by small mom & pop investors, like your friends and neighbors.
What’s actually happening is, that there are people out there, just like you, who believe in homeownership, and they view buying a home (or a second home) as an investment. Maybe they saw an opportunity to buy a second home over the last few years to use it as a rental and generate additional income. Or maybe they just decided to keep their first house rather than sell it when they moved up.
So, don’t believe everything you read or hear about institutional investors.They aren’t buying up all the homes and making it impossible for the average person to buy. That’s just not what the numbers show. Institutional investors are actually the smallest piece of the pie chart.
Bottom Line
While it’s true that institutional investors are a player in the single-family rental marketplace, they’re not buying up all of the houses on the market. If you have other questions about things you’re hearing about the housing market, let’s connect so you have an expert to give you the context you need.
Before you host that big holiday dinner, let’s talk about protecting your floors. You wouldn’t want a scratched hardwood floor causing chaos at the family table, right? Well, worry not! Here’s a quick and budget-friendly solution that every homeowner should know.
Ever noticed those felt pads on the bottom of your chairs? They’re lifesavers and they are at Dollar Tree! Before your holiday gathering, take a moment to inspect them. Over time, they can wear down or go missing, leaving your floors vulnerable to scratches. After all, who needs more family drama during the festive season?
But here’s the real pro-tip: these little felt pads have uses beyond just chairs. Let me share some extra spots you might not have thought of.
Between Furniture and Baseboards: Especially important if you have dressers or kids’ beds against the walls. Place felt pads on the back of the furniture to cushion against the baseboard. No more worrying about knarly scratches!
Under Vases and Decor: Wood tables are beautiful, but they can be easily scratched. Put felt pads under vases, lamps or anything decorative sitting on your tables. This way, even if things get moved around during family gatherings, your table’s finish stays intact.
Cabinet Soft Close: If your cabinets don’t have soft close hinges, worry not. Stick small felt pads on the doors to prevent that annoying clunking sound. It’s a simple fix that adds a touch of peace to your daily life.
Closet Doors That Slide: Got closet doors that slide? A couple of well-placed felt pads can make all the difference. No more noisy door encounters, or kids clanking doors closed too hard.
These felt pads are like the unsung heroes of home maintenance. They’re cheap, versatile, and can save you from costly floor repairs. Now, let’s talk about where to get them.
Yep! Pick them up at your local Dollar Tree. Or order a crap-ton of them like I do and mail them to people, but I’m that weirdo Realtor lady that sends stuff in the mail…
Hate your floors, layout, and need a place that serves your current season of life better? Schedule a Home Consultation with me. Whether you’re dealing with how to update your floors or just want more personalized homeowner tips, I’m here to help with all things home. Reach out at www.calendly.com/RealtorStacie or give me a call at 720-295-9089.
So, there you have it—simple, effective, and budget-friendly tips to protect your floors. Say goodbye to floor scratches (and grudges against visiting family members for permanent damage to your home)!
Are you considering buying or selling a home in the Denver Metro area? If so, it’s crucial to be aware of the often overlooked Homeowners Association (HOA) closing costs that can significantly impact your budget. Let’s break down these costs and shed light on the key fees associated with the resale process. If you prefer a video format, watch my detailed explanation here:
Understanding Common HOA Closing Costs
When it comes to HOA closing costs, there’s a lot more than meets the eye. These fees, which can range from a few hundred to several thousand dollars, might catch you by surprise if you’re not prepared.
1. Community Documents (Docs Fee)
One common fee is what I like to call the “docs fee” or documents fee. The HOA charges the seller to provide a package of all the HOA documents to the buyer. However, here’s a money-saving tip: sellers have the right to obtain these documents directly from the HOA without incurring extra charges through third parties. This can save you anywhere from $150 to $300. So, take control, go online to your HOA portal, and download all the necessary documents to fulfill your contractual obligations.
2. Status Letter Fee
The Status Letter Fee is an administrative cost charged by the HOA or management company. It confirms that the seller has paid all dues and outlines the financial obligations for both the buyer and seller. Depending on the urgency, rush fees might apply. The good news is, you can negotiate who pays this fee in the original offer – the buyer, seller, or a split arrangement.
3. Third-Party Fees and Rush Fees
Sometimes, title companies order HOA documents through third parties, leading to additional fees, especially if there’s a rush to close the deal. Watch out for these, as they can vary and nickel and dime your closing costs.
4. Transfer Fee
Also known as a Record Change or New Owner fee, the transfer fee covers the administrative process of updating ownership records within the HOA. Like the status letter fee, you can negotiate who bears this cost in the upfront purchase contract, depending on your contract choices.
5. Working Capital
While not a direct “fee”, some HOAs charge working capital to bolster their reserves for major expenses. Sellers and buyers should be aware of whether this is refundable and how it might affect closing costs. It will be on the Status Letter but sometimes that doesn’t come in until a few days prior to Closing. Check the HOA Covenants, Rules, and Regulations (CCR’s), it will likely be stated in there if there is one, how much, and if it is refunded to you at the time of sale.
6. Amenities Access Fee
Certain HOAs charge fees for amenities access, such as pool cards or gate fobs. While usually conveyed from the seller to the buyer, some HOAs charge new owners upfront for these items.
7. Condo Certificate Fee
For buyers considering condos, a condo certificate fee might apply. This fee covers the lender’s request for information from the HOA to ensure and prevent potential issues that could lead to a buyer defaulting on their mortgage. This fee is usually not negotiable, as it falls under loan origination charges. Keep an eye on your closing statement to understand the impact on your overall costs.
Saving Money on HOA Closing Costs
Understanding these common HOA closing costs is essential when navigating the resale process in the Denver Metro area. Whether you’re a buyer or a seller, being aware of these fees allows you to make informed decisions and easily save hundreds, potentially $1,000 or more!
Paying attention to the details in your offer is crucial! Depending on how your offer is structured and negotiated, you can influence who bears the cost of NEARLY ALL of these fees. Adequate communication with your real estate agent and understanding the implications of each choice can make a significant difference in your closing costs. Just another reason to INTERVIEW AGENTS and hire one that knows how to advocate for you.
If you’re in the South Denver area and looking for detailed guidance on HOA closing costs or assistance with buying or selling a home, I’m here to help. Book a Consultation with me or call 720-295-9089. I’m passionate about ensuring people understand the intricacies of the real estate process, especially when it comes to fees that can impact your bottom line.
Navigating HOA closing costs in the Denver Metro area requires awareness and proactive decision-making. By understanding the common fees associated with the resale process, you can make informed choices that align with your financial goals. Don’t let unexpected fees catch you off guard – take control of the process, save money where you can, and make your home buying or selling experience a smoother journey.
Ready to Take Action?
If you found this information helpful, check out my YouTube Channel or other blog posts for more tips, and feel free to reach out if you have any questions.
Today, I’m sharing a quick and budget-friendly DIY tip for anyone looking to increase their home value through staging, especially if you’re in the Denver Metro area. If you’re considering selling your home, you know that first impressions matter. So, let’s talk about the impact of curtains on your staging game.
Before we dive into the details, let me emphasize the importance of curtains in staging! I recently helped a Seller sell their home that got an offer quickly for much more than they expected to sell it for thanks to professional staging. However, I noticed that curtains are often overlooked by professional stagers! In this large, nearly 5,000 square foot house, curtains made a massive difference, especially in areas like bay windows.
Why Curtains Matter: Bay windows are beautiful, but without curtains, they might feel a bit bare. Curtains not only add a touch of elegance but also draw attention to the window, making the space feel cozier. In this master suite, the south-facing bay windows were begging for some attention.
Now, you might be thinking, “Curtains are expensive, especially for bay windows.” Fear not! I’ve got a budget-friendly solution that won’t break the bank.
Affordable DIY Bay Window Curtains: First things first, head over to Amazon. You can find a bay window curtain set for as low as $25. For those in a time crunch, Ikea is your friend. I recently covered an entire bay window for just $60 using Ikea curtains.
When choosing curtain length, go for 96-inch curtains for standard eight-foot ceilings. I found these at Ross, TJ Maxx, and of course, Amazon. If you can’t find the exact size, it’s okay to go taller and hem them later.
Now, let’s break down the cost. I spent about $42 on four panels of curtains and $6 on a larger diameter curtain rod from Ikea. Remember, investing a bit more in a larger rod makes a significant difference in appearance. For the brackets, I used six at $1 each. Always opt for grommet curtains – they help hide the brackets seamlessly.
Pro tip: Even if your curtain rods and brackets are mismatched, you can make it work. I mixed black brackets with silver rods, and it turned out great. Remember, it’s about the impact, not perfection.
Installation Tips: When hanging curtains, open them up and hang them from the very top. This ensures they drape nicely without the need for hemming. Hang them closer to the ceiling, not right above the window, for an elongated and polished look.
To make installation smoother, create a template using the cardboard that comes with Ikea brackets. Mark your holes, drill, and install all brackets at once. This way, hanging the curtains becomes a breeze.
The Final Touch: Now, let’s talk about the overall impact. Curtains, combined with affordable accessories, can transform a room. I found a duvet cover on Amazon for $50, and simple white linens brightened up the space. The goal is to create a warm, hotel-like atmosphere.
In larger windows, like these bay windows, curtains soften the room, making it feel finished and inviting. It’s a small investment with a high return on investment (ROI) when it comes to staging your home.
Conclusion: So there you have it – a simple, cost-effective way to enhance your home’s appeal through DIY bay window curtains. Whether you’re considering professional staging or going the DIY route, curtains should be on your checklist. They add value, warmth, and that finishing touch your potential buyers will love.
Curious about how much Staging can help sell your home? Book a Home Seller Consultation with me! Let’s discuss how these DIY tips and more can maximize your property’s potential.
Schedule your consultation now at www.calendly.com/RealtorStacie or call me at 720-295-9089.
Disclaimer: This post may contain affiliate links for your convenience and I may earn a small commission at no extra cost to you. This me to continue bringing you valuable content.
Today, I want to tackle a question that comes up often, especially in our fast-paced market: What exactly is a Rent Back or a Lease Back?
This concept becomes crucial for those contemplating selling their homes and worrying about the challenges of finding a new one swiftly, ideally with less stress and a single move. Let’s break down the seller rent-back process and how it can facilitate a single move, allowing you to sell your current home, close the deal, and then seamlessly move into a new one. If you prefer a video explanation, check out my detailed video:
1. Seller Rent-Back Basics
In a nutshell, a seller rent-back, also known as a lease back, is an agreement that allows the seller to remain in their home for a specified period after closing. They RENT it back from the new owner based on agreed price and terms. This arrangement is especially beneficial in a market where finding a new home promptly might pose a challenge. Sellers can close on their current home, pay off the loan, and then take the time to locate and purchase a new home, all with the convenience of a single move.
2. Duration of Rent-Back
The duration of the rent-back period can vary. It might be as short as a couple of days or extend to 30, 60 days, or more. It ultimately depends on the agreement between the seller and the buyer. It’s important to note that most lenders, in the case of a purchase followed by a rent-back, will typically require the new owner to take possession within 60 days of Closing. However, if the transaction involves cash or alternative arrangements, this timeline can certainly be more flexible.
3. Post-Closing Occupancy Agreement in Colorado
In Colorado, we use a Post-Closing Occupancy Agreement to formalize the rent-back arrangement. Your agent can assist you with this short-term lease agreement, specifically designed to cover the period of up to 60 days. If the rent-back extends beyond this timeframe, alternative lease agreements or negotiations with the new buyer may be necessary.
4. Using this as a Competitive Offer Strategy
Something I tell all of my buyers, especially in a bidding situation or a competitive market, is the best thing you can do for a seller is give them time. It’s not always about price, it’s about extra time in an already stressful situation. Very often for buyer clients, I will suggest we consider the sellers’ timeline as much as possible in our offer, and we will VERY often get our offer accepted, over others offering much higher prices, just because we gave the seller some time and didn’t force them to move twice!
Navigating the Process
Understanding the basics of seller rent-backs is crucial when navigating the intricacies of the real estate market in the South Denver Metro area. Whether you’re a seller looking for breathing room to find a new home or a buyer aiming to stand out in a competitive market, the rent-back option can be a game-changer.
Book Your Consultation
If you’re considering selling or buying a home and want more personalized guidance on seller rent-backs or any real estate-related questions, book a consultation with me at Calendly/RealtorStacie or give me a call at 720-295-9089. I’m here to make your real estate journey smoother and stress-free.
A seller rent-back or post-closing occupancy agreement is a valuable tool in the real estate toolkit, providing flexibility and convenience for both sellers and buyers. If you found this information helpful, reach out if you have any questions, and let me know how I can help your move be as smooth as possible.
Hello, South Denver Metro homeowners and prospective sellers! I’m Stacie Duffy, your go-to Denver Metro Real Estate Resource. With the 4th of July just around the corner, let’s dive into a crucial topic for today’s seller’s market: Appraisal Gap Coverage or Guaranteed Appraisal. This strategy is vital in making informed decisions when selling your home, especially in a rapidly appreciating market.
Understanding Appraisal Gap Coverage: Appraisal gap coverage is a term you might hear from your realtor or from friends who recently bought a house. It’s a strategy used in multiple offer situations, particularly beneficial in seller’s markets like we’re experiencing. In essence, it’s an “insurance policy” for the property’s appraised value.
Why It’s Important: In markets where property values are rapidly increasing, appraisers face challenges in justifying the rising prices. They compare your property to similar ones that sold recently—usually within the last six months. If the market is appreciating quickly, the appraisal may fall short of your escalating sale price. This is where appraisal gap coverage comes into play.
How It Works: As a seller, you might encounter a buyer’s offer that includes a clause about appraisal gap coverage. This means if the appraisal comes in lower than the purchase price, the buyer agrees to cover a certain amount of the difference, up to a pre-agreed limit. This could range from a few thousand dollars to covering the entire gap. Remember, the lender will only lend against the appraised value. If the appraisal is low, the buyer’s offer of gap coverage can be a deciding factor in accepting their offer over others.
Strategic Advantage in a Seller’s Market: In a seller’s market, where multiple offers are common, having a buyer willing to provide appraisal gap coverage can be a game-changer. It offers peace of mind, knowing that even if the appraisal falls short, the agreed-upon sale price is more likely to be met. When evaluating offers, consider the strength of the appraisal gap coverage clause. A strong offer with significant gap coverage can be more attractive, even compared to higher offers with no such coverage.
As a seller in the South Denver Metro area, it’s important to understand the dynamics of the current market, especially regarding appraisals. Discussing with your realtor about how to handle potential appraisal gaps can be crucial in getting the best deal for your property. If you’re planning to sell your home and want to navigate these complexities with ease, I’m here to help. For more information or to book a Home Seller Consultation, visit www.calendly.com/RealtorStacie or call me at 720-295-9089. Feel free to drop any questions or comments below, and I’ll be happy to address them. Happy house hunting and here’s to a successful sale!
I wanted to talk about today why not to put your kids on your title for your property. So I know for a lot of people that tends to be how they’ve done things or how they want to avoid probate or how they do will planning or estate planning. That’s one way of doing it. I don’t recommend it for a lot of different reasons because it causes a lot more problems than it solves. So I’m gonna hit on four topics quickly and there’s a lot of info in here. There are four big reasons not to put your kids on your title:
Selling the Property
One, if you ever try to sell that property and now you have three children, for example, along with yourself on the title, guess who all gets to decide, and every single sale decision, which means what realtor do you hire, how much are you willing to pay them, what price do you wanna list the property for? Do you wanna do staging? Oh, by the way, we listed the property and now we got an offer and now all these people have to review the offer and we all have to agree to every date, every term, every single fee of who’s paying what in the offer. Let’s say you have three kids, getting five adults to agree on anything is practically impossible. Nonetheless, when it’s something as emotional as selling the childhood home and what season and oh my friend’s a realtor, or oh my, my wife’s brother-in-law is a realtor or whatever, guys, it gets messy. Not to mention what is, let’s say one of the kids says, “No, I don’t wanna sell the house. I wanna get that house because that’s my childhood home.” Well, maybe mom and dad wanted to sell that because they needed the money for to go live in their dream retirement home or have some live in care at a smaller house. Don’t make things any harder than they’re probably already gonna be.
Liability
Second is liability. Let’s say for this example, one of those three kids is not the most responsible but you love them cuz they’re your child, but, and you want them to get an equal share so you put them on the title. But let’s say, well they just haven’t found their way and they haven’t paid their income tax for a few years, but they didn’t tell you that. The IRS files a tax lien on your house because, oh wait, they’re on the title. So it is that person’s asset that can now be foreclosed on because they haven’t paid their income taxes. Don’t lose your house to the IRS because your kids didn’t pay their taxes and you put them on the title. Okay, let’s avoid that one. Not to mention if they get sued, if they get, you know, in a car accident and can’t pay personal entry lawyers, you’re opening, you’re essentially giving them this big empty, you know, or this big bank account for them to just have someone else go after them for let’s not do that, okay? So don’t open yourself up to that kind of liability.
Title Policy
Third is your title policy. So when you purchased the house, you probably should have purchased a title policy with it. And like I said, I’m gonna speak to the state of Colorado, that’s my sandbox, that’s where I play. But let’s say you, you know, purchased with a title policy and you had a special warranty deed when you purchased that property and you quit claim deeded your children on which you have now lowered your warranty of your deed level from a special warranty, which has a level of warranty and other things that go along with it to a quit claim warranty, which carries no warranties. So you’re not putting any guarantees with the deed. So you’ve now dropped the guarantee of your deed, which means is that title policy that you got, the title company’s like – we ensure these people for this deed level for this house. You just added all these other people and now you’re having an ownership issue because you own mineral rights and someone’s trying to take that. The title company says they’re not on your insurance, they’re not part of your title insurance policy and all you had to do was call the, and say, “Hey, I wanna add somebody.” And we could have maintained your warranty deed level and we also could have just charged like a $200 endorsement to update your policy to add that person. But because you didn’t, your insurance is warrant is voided. That’s a big problem, especially if you ever have a title issue. Which the more people you add the title, the better chance you’ll have a title issue.
Capital Gains
Number four is capital gains. It gets really messy depending on investment vs personal vs all this kind of other stuff. But if you were doing this to avoid probate because people think, “Oh, probate’s expensive and it costs,” it’s attorneys in the state and the court and all this other stuff, I just don’t wanna deal with that. I don’t want my kids to have to deal with that. Let’s say you bought this house in 1965, you put all your kids on it, you avoid probate, great. Now those kids wanna sell that house and it is appreciated significantly in that period of time you are paying capital gains because it’s not their primary residence. So they don’t get to claim that as an exemption. They are now paying capital gains on the entire appreciation because they’re on title and they didn’t pass. There are certain things that adjust the basis, which is essentially the base level that the gain is calculated from. The longer ago you purchase it, chances are the lower the basis is right, you do some capital improvements. You can adjust it down a little bit for the money you spent, but then you to sell it and let’s say it’s appreciated, you know, $500,000 in the last 50 years. When you pass and the property either goes through probate or a trust or a beneficiary deed or some other method, that is much better to do these kinds of things, a lot of those things will trigger an adjustment to the basis, which means, now you’re not paying capital gains on all of that money. Only the money that you’ve made from the market value of the property at the time of death vs when you sell it. For a lot of people, that is hundreds of thousands of dollars of capital gains tax you won’t have to pay by keeping your kids off the title and handling, dispersion of assets a different way via probate, via trust via beneficiary deed, via something else than just quit claiming your children onto your title.
Anyway, just a few top a few reasons, there’s plenty more, but if you have more questions about this, like I said, if you’re in the Denver metro area and you want help with this, you’re getting recommendations on attorneys or things like that that can help with these types of things, please feel free to reach out to me directly. My contact information is on my website, link for that is here. If you’re looking to sell and need help with an estate probate trust situation, a lot of realtors don’t understand the details. I wanna make sure you have the appropriate assistance and knowledge basis and competency for the transaction that you’re looking to accomplish.
Hey everybody! Today, I’m tackling a question that could potentially save you a boatload of money if you’re considering buying a home, or already own one and want to save some serious money long term! We’re talking about biweekly mortgage payments – a secret weapon that most lenders won’t tell you about. Let’s dive in and uncover the key to paying off your house faster and saving on mortgage interest.
Unraveling the Mystery of Biweekly Payments
So, what’s the buzz about biweekly payments? Most folks aren’t familiar with this game-changing strategy, mainly because lenders don’t shout about it from the rooftops. Why? Because it saves you money, and they make less in interest. But fear not, I’m here to spill the beans.
Here’s the deal: instead of your usual monthly mortgage payment, consider splitting it into 2 biweekly payments per month. It won’t alter your mortgage terms, just how often you make payments. Think of it like getting paid at a job – are you paid every month, twice a month, or every two weeks? The frequency matters because it can mean extra money in your pocket. Similarly, biweekly mortgage payments can squeeze in an entire extra payment each year.
The Long-Term Payoff
Consider this a long-term investment. On average, making the switch from monthly to biweekly payments can cut your 30-yr fixed rate mortgage down by an average of 6-7 YEARS! I’m not kidding! By paying a bit extra more frequently, you’re not only saving on interest but also putting more towards the principal. It’s like a turbo boost for your mortgage payoff journey, increasing your extra principal paid.
Crunching the Numbers
Let’s break it down with an example. Say your monthly mortgage payment is $1,800. If you switch to biweekly payments of $900, not only do you end up making an extra $1,800 PRINCIPAL ONLY payment by the year’s end, but here’s where the magic happens. Let’s say you decide to round up and pay $1000 every two weeks instead. That additional $100 per payment goes straight to your principal EVERY TIME. That’s ANOTHER $2,600 towards your principal every year!
For those unfamiliar with amortization tables, it’s essentially a roadmap for your mortgage payments. Utilize online calculators to understand how these extra payments can significantly impact your mortgage. The less principal you owe, the less interest you pay every month. Here’s a handy calculator for you to play around with. Trust me, it’s eye-opening.
The Cash Flow Advantage
Switching to biweekly payments not only accelerates your mortgage payoff but also has some practical benefits. It helps level out your cash flow and bank account each month, making your monthly budget more manageable. Instead of one large chunk leaving your account on the first of the month, the biweekly approach spreads it out, creating a more even balance.
Consider the scenario: your bank account stays more consistent, checks aren’t as hefty, and your financial landscape becomes a bit smoother. While this might not be a major benefit for everyone, it’s worth discussing with the other decision-makers in your household.
Your Next Steps
Ready to take control of your mortgage and reap the benefits of biweekly payments? Reach out to your loan servicer or lender to discuss the possibility of making this switch. It’s a smart move for anyone looking to pay off their house faster and has some extra cash flow in their monthly budget. The *CATCH* is NOT ALL loan servicers make this available, some charge a fee to set it up, some charge a monthly fee to process it, and you usually have to call them to set it up. DON’T just start paying partial payments and expect to get the benefits, you have to get them to agree to it.
Book Your Home Buyer Consultation
I’m passionate about helping people invest in themselves through home ownership! If you’re considering a home purchase in the South Denver Metro area, I’m here to guide you through the process. Book your Home Buyer Consultation with me at www.calendly.com/RealtorStacie or give me a call at 720-295-9089. Let’s make your homeownership dreams a reality!
Thanks for spending time with me today, and here’s to helping you save some serious money on your mortgage. 🥂
Are you considering selling your home in the South Denver Metro area? Staging is a crucial aspect of making your property appealing to potential buyers. In this video, we’ll explore a creative and cost-effective way to stage a bedroom that might not meet all the legal conformities. Let’s dive into the details.
Creating the Illusion of a Bedroom: I’m showcasing a budget-friendly method to introduce a bed into a non-conforming bedroom. While it may not be a legal bedroom due to the lack of an egress window, the goal here is to help potential buyers visualize the room’s size, which can be challenging when the space is empty.
Affordable Staging Setup: To recreate this staging strategy, you’ll need minimal supplies, all of which are reasonably priced. Our host demonstrates using a queen-sized bed, strategically placed to highlight the room’s spaciousness. The entire setup, including the bed, cost around $110-$120.
Staging Supplies and Shopping Tips: Our host shares valuable insights into where to shop for the necessary supplies. Bed-in-a-bag sets, including a bed skirt, can be found at Walmart, TJ Maxx, Home Goods, or Ross, ranging from $35 to $50. Ensuring your set includes a bed skirt is crucial for this particular staging setup. Additionally, a basic air mattress from the camping section (around $18) serves as the foundation for the staged bed. Opt for a thinner mattress to accommodate the bed skirt, giving the illusion of a regular-height bed.
Space-Saving Tricks: To keep the setup streamlined, the host uses empty file boxes (easily available at Walmart) underneath the air mattress. These boxes serve a dual purpose – maintaining the structure of the bed and allowing easy breakdown for storage. While the staged bed may take up some space, our host suggests using larger Ziploc vacuum bags for efficient storage, especially if you’re a DIY realtor or a seller worried about packing.
In conclusion, for approximately $100 to $120, you can invest in creating an impactful visual representation of your property’s bedroom space. Staging, as demonstrated, is a worthy investment that pays off when selling your home.
If you found this tip helpful, make sure to subscribe to my channel for more insights. For personalized advice and a home seller consultation, reach out to Stacie directly via my website or schedule a consultation at www.calendly.com/RealtorStacie or by calling 720-295-9089.
Let’s unravel the mystery behind what title companies do throughout the home buying or selling process. I recently got this question from some first-time buyers, and it’s a gem worth exploring. Check out my video on title insurance, and let’s dive into the lesser-known but crucial roles of title companies.
Cash Handling and Earnest Money Title companies, in many cases, act as impartial money custodians. They collect and safeguard your earnest money, serving as an unbiased third party. This ensures fairness if any disputes arise during the process. It’s all about transparency and ensuring funds go where they should.
Recorded Documents and Title Commitment One of the critical tasks is pulling recorded documents to create a title commitment. This involves scouring public records for anything related to the property, from existing loans and mechanics liens to potential clouds on title or gaps in ownership. This comprehensive research sets the stage for a clear title commitment.
Plat Maps and Property Information Ever wondered about the intricacies of your property’s legal description? Title companies provide essential information from plat maps, detailing neighborhood divisions and your specific property’s location. This includes street frontages, survey records, easements, and covenants that could impact your property.
Closing Numbers and Package Handling the financial nitty-gritty, title companies compile and distribute the final closing numbers. This includes dissecting the contract to determine who pays what, ensuring a fair distribution of costs between buyers and sellers. They present a detailed settlement statement for both parties, bringing clarity to the financial aspects of the transaction.
Closing Process and Deed Recording Title companies orchestrate the closing process. From going through loan documents with the buyer to presenting the closing package and ensuring the deed gets recorded in public records – they manage the crucial final steps of the transaction. This ensures the legal transfer of property ownership.
Title Insurance Last but not least, title companies provide you with title insurance. This policy is sent to you after the dust has settled and you officially become the property owner. It protects you from potential future issues related to the property’s title.
If you’re considering selling your home in the South Denver Metro area, book a Home Seller Consultation with me at Calendly/RealtorStacie or call 720-295-9089.
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