Martha's Vineyard Living

If only we could every buyer read this before begining their serach for a home. 

From Inman News.  Beyond Dual Agency. Although real estate professionals continue to debate the ethics of brokers and agents "double ending" deals, their legal right to provide services to both the buyer and seller in the same transaction is firmly established. Over the last 25 years, Realtor associations have lobbied lawmakers in all 50 states to rewrite the laws governing agency relationships in real estate, protecting their members' right to work both ends of a deal.  Read more

It's a tool used by house flippers all across the nation. Stagers know its power. Real estate agents push its importance. What is this not-so-well-kept secret o freal estate? A kitchen can sell a house.

A kitchen is the heart of a home. This is true all across the globe. The old saying that the "stomach is the way to the heart" carries a lot of truth. Kitchens are where we spend much of our time and most of that is with our families. It's the room where we nourish our bodies and our spirits.

Kitchens are integral to entertaining and in today's age of open floor plans, they're a focal piece of many family rooms. It's because of this that kitchens play such an important role in the buying and selling process.

This one room is the showpiece of the house. You'll see it every day and your guests will see it during most visits. This means buyers want homes with up-to-date kitchens.

Kitchens, however, can be one of the most expensive rooms to renovate. These projects can also be the most labor and time intensive of all home renovations. It's not just a new layer of paint.

Instead you find a complicated array of flooring, tiling, cabinets, and counters. This means buyers may want a home with an up-to-date kitchen but they aren't willing to tackle this problem themselves. Most buyers want a kitchen that is ready to use the day they move in.

What do buyers look for in up-to-date kitchens? A lot of this depends on what price range your home is in.

The main thing to remember as a seller is to not price yourself out of your market. If homes in your neighborhood are selling for $100,000 with tidy, but not luxury kitchens, then this is no time to upgrade to granite, travertine, and marble at the price tag of $40,000+. You simply won't find a buyer.

Scope out the competition. Use open houses in your area or MLS listings to find out what your competitions' kitchens look like.

Do area homes have new solid wood cabinets and granite counters in today's designer colors? You'll be wise to consider making the same move. Are they including new stainless steel appliances and add-ons like dishwashers, wine-coolers, and trash compactors?

Are you in a higher-end neighborhood? It's time to think high-end. Your older home may have a highly functional kitchen, but a buyer will take one look at your formica counters and white appliances and become lost in the stress of how much money and time it would take to remodel. If you don't want to put in the time yourself to make upgrades then you'll have to make concessions in the price.

Don't become overwhelmed, though. Sometimes a kitchen update can mean doing just a few minor changes. Change the paint color to a warm, neutral tone. Get rid of any clutter. Update your appliances, paint your cabinets, change the pulls, or get a high-end looking counter for a fraction of the cost (faux-granite or lower end granite). You might even save a bundle by doing much of the work yourself.

The bottom line is a kitchen can sell a home. Do a little research and find out what your kitchen needs to make it competitive with area listings.

by Carla Hill

RealtyTimes

Published: January 24, 2012

Q: Should I always get a permit before making home improvements?

A: To save both time and money, some people avoid getting building permits. But most cities require them. Besides ensuring safety during construction – housing inspectors sometimes stop by to check on the progress of projects at key points – they are also a source of revenue.

Cities charge a fee when a building permit is issued. Also, work done with a building permit can result in an increase in the homeowners’ property taxes because, in general, a home improvement increases the assessed value of the property.

Permits are usually required when any structural work is planned or the basic living space of a home is altered. They generally cover new construction, repairs, alterations, demolition, and additions to a structure. Some jurisdictions require the permit to be posted in a visible spot on the premises while the work is being done.

Besides structural changes, permits also may be needed to cover the installation of foundations for tanks and equipment, as well as the construction or demolition of ducts, sprinkler systems, or standpipe systems.

By law, all buildings must have a building permit and a certificate of occupancy before they can be used.

I have posted a few articles to our Home Page, Housing Must Be a National Priority and Barclays analyst sees housing rebound coming in 2012.
However, reading Esquire’s Best of 2011, I wonder why there has been so much negativity in the news, leading to depressed moods and depressed economies. I truly believe if the focus were just tilted a bit toward some of the better news that is out there this recovery including some action from Washington would be forthcoming. Increase demand; fix the economy. My hope for 2012: Peace on Earth: Goodwill toward All.
 

Christmas in Edgartown is a Vineyard tradition shared by young and old and enhanced by the glimmer of freshly fallen snow.  This weekend event is bursting with festivities and shopping which will certainly get you in the holiday spirit.  Click here for a full list of events.