Holiday Selling – November Newsletter

Dear Karen,

I’ve heard it’s a mistake to put your house on the market during the holidays. Did I miss my window to list my house or are there actual buyers out there who are looking during this busy season?

Sincerely,

New Home for the Holidays

Dear New Home for the Holidays,

When deciding to sell around the holidays, you need to take into account many factors such as: Are you being relocated? Have you found the perfect home? How long might it take you to prep your home for sale? Casual buyers are not looking during the holidays but serious buyers will be looking-and while you may not get a lot of traffic during this busy season, the buyers who are looking are ready. We here at KCR do a lot of pre-marketing so this helps get some traction without accruing days on the market. Feel free to call us-we’ll help you figure out the right time to maximize your selling potential.

If you have a question for Karen, email us. You could be featured in an upcoming newsletter.

Check out our Ask Karen series & 3D Open Houses of all of our available properties.

Top 12 Tips for a Safer Holiday Home

safe homeOur world is full of risk at every turn—from perilous jobs to dangerous driving conditions. That’s why we all love to get back to our homes and not worry about everyday safety hazards. It’s great to feel comfortable and safe at home, but is it as safe as it can be?

Your home should be your haven: the place where you will be protected from harm. It should be a top priority, and yet every year 1200 people or more visit the emergency room during the holiday months due to accidents and unintended injuries sustained from hidden dangers around the home.

With a sharp eye and preventive action you can reduce the chances of lurking safety dangers for everyone who visits your home.

The Top 12 Home Safety Tips

  1. GOOD LIGHTING— Adequate lighting reduces the risk of tripping and falling both inside and outside your home. This is especially important in winters when days are shorter. Critical areas that need to be illuminated are the stairs, outdoors, and foyers. Make sure your street number is well lit and visible from the street to aid first responders find your home. The fix: Make sure adequate wattage is utilized and long-life bulbs and motion detectors are in place.
  2. ELECTRICAL PROBLEMS?— Electrical issues, like a flickering light or a dead outlet, can be mild annoyances that actually signal serious dangers. If not addressed promptly, a faulty electrical system can result in house fires and shocks. The fix: If you’re experiencing any problems with your electricity, contact a professional right away. In your daily life, make sure electrical cords are not frayed or pierced and extension cords are securely connected. Do not run too many cords to a single outlet. Unplug small appliances, space heaters, and power tools when not in use.
  3. DO ROUTINE CLEANING— Not maintaining your appliances leads to a greater chance of accidental home fires. The fix: Do simple tasks regularly like cleaning grease off your stovetop, emptying the lint trap on your dryer, and keeping your chimney clean and clear.
  4. SMOKE AND GAS DETECTORS— Every home needs functional warning devices that detect smoke and gases. The fix: When purchasing smoke alarms, make sure they also detect carbon monoxide, a deadly gas that is especially dangerous because it is colorless and odorless. Replace the batteries every six months—or whenever you change your clocks. Create an emergency evacuation plan, build a preparedness kit, and practice regular safety drills with your family to ensure awareness of procedures.
  5. SECURE YOUR HOME— Many homes now have the latest technological advancements but still rely on locks and hardware from decades ago to keep you safe from intruders. The fix: Do an audit of all entry points to your home—doors and windows and screens. If any do not have secure screens, locks, and deadbolts, have them installed. For those entry points that do already have door knobs, handles, and locks, make sure that they are in good working condition.
  6. WHEN YOU ARE AWAY— We all enjoy long weekends and out-of-town vacations, but unfortunately that leaves your home vulnerable to intruders. The fix: Create the illusion that someone may still be there. Leave a TV or stereo on in the room where a burglar would most likely break in. Have neighbor pick up mail and the daily paper. Turn down phone ringers, keep blinds drawn, and don’t leave unsecured valuables in the home even if you think they are well-hidden. Never hide keys around the home or garden, and don’t leave notes on the door that suggest you are out of town.
  7. HOUSEHOLD REPAIRS— Even if you are an expert and know your way around electrical, plumbing, car or other household repairs, proceed with caution. A poor repair could be a recipe for disaster. The fix: Call a professional or ask me for a referral from our trusted sources.
  8. VEHICLE CAUTION— Remember that there is danger even before you drive on the street. If you are backing your car up, watch out for children and pets on the sidewalk and road. The fix: Be cautious and proceed slowly when driving vehicles in or out of your driveway. If your driveway does not have good visibility in both directions, walk down and look in both directions before you get in your car.
  9. MAKE IT SAFE FOR VISITORS— If you are hosting friends and family, consider what additional safety challenges they may face. The fix: Put yourself in the shoes of a small child and look for low, hard edges, sharp objects, easy-to-open cabinets with chemicals and cleaning agents. Look for falling and tripping hazards that may fell seniors.
  10. BRACE YOURSELF— Heavy objects are rarely braced in the home. Appliances, artwork, televisions, and aquariums present real hazards if they are knocked down by a person or a natural disaster. The fix: Strap and brace heavy objects and use security hardware for large artwork.
  11. UNCOVER HIDDEN DANGERS— If your home was built before the late seventies, there’s likely lead in the paint under the top coats on your walls and windows, and there might be traces in the varnish used on many hardwood floors. In addition, asbestos often can be found in insulation and “popcorn” ceiling textures. The fix: Hire a licensed contractor to test for possible contaminants and remove them safely, especially prior to a remodel.
  12. MOTHER NATURE— Your homeowners insurance will cover you in many instances, but did you know that you may not be insured against natural disasters like earthquakes, floods, tornadoes, and hurricanes? They typically require an additional policy. The fix: Contact your insurance agent to make sure you have adequate replacement coverage as home values escalate and coverage amounts can stay static. Discuss costs for adding disaster policies for the natural disaster most likely to hit your area. Finally, having a disaster and communication plan can minimize the risks.

Safety Dangers to Kids You May Not Think About

Do you have small children who live with you? Even if you don’t, with the holiday season rapidly approaching, your home may welcome friends with young children and older family members. This makes now the ideal time to survey home your home for potential safety problems.

  1. OPEN WATER– Did you know that as little as an inch of water can be a major hazard? A pail of water in the yard, large puddles from a storm, even a washing machine can induce a small child to trip or fall into and become at risk. The fix: Watch for open ice chests and other standing water, and don’t leave toilet seats open.
  2. SMALL BATTERIES– Button-sized lithium batteries power small electronic devices, including remote controls, watches, musical greeting cards, and ornaments. When accidently swallowed, they can get stuck in the esophagus and generate an electrical current that can cause severe chemical burns and tissue damage. The fix: Only let small children play with mechnical devices and toys under supervision, and make sure to put these items away when not in use.
  3. WINDOWS AND STAIRS– Every year, more than 5,000 kids end up in the emergency room after tumbling out of a window. Combat that by installing window guards or window stops so kids can’t fall out. Stairs are another potential hazard for youngsters with less-than-perfect balance. The fix: Baby gates can prevent young kids from venturing up or down. Steps should always have firm footing and be clear of objects as even older people can slip and fall or trip on items left on the stairs.
  4. FAMILY PETS– Cats can scratch a child not used to playing with finicky felines. The family dog may be big and loving but can outweigh a child by five times. Children can be easily knocked down, nipped, or even bitten by a dog not used to the activity of small children. The fix: Monitor play activity and make sure your pet is not getting anxious or annoyed.
  5. CORDS– Babies can be strangled by cords on blinds and shades. The fix: Excessive cords of all types should be removed or secured down. Always keep cribs away from windows with loose cords.

Now’s the Time

With the upcoming holidays at hand, now is the perfect time to survey your home and address potential safety hazards to yourselves, your family, and your friends. It doesn’t take long, most fixes are very inexpensive and simple to do, and your efforts will pay dividends in peace of mind for years to come.

If you would like our advice on how to make your home safer and need a list of trusted sources for home repairs, please contact us today. It’s our business to ensure that your home is safe and secure for your family.

KCR Named in “Top 100 Most Influential” in Georgia

top-100-most-influential-real-estate-agents-logoKaren Cannon Realtors (KCR) has recently been named one of THE 100 MOST INFLUENTIAL REAL ESTATE AGENTS in Georgia by Real Estate Executive Magazine. This award, which recognizes and celebrates outstanding customer service, hard work and thriving realty companies, will be presented at the Atlanta Mastermind Summit on November 17.

THE 100 MOST INFLUENTIAL REAL ESTATE AGENTS award is associated with the annual Mastermind conference—a dynamic event designed to share tools to help successful, experienced realtors break through to the next level. Mastermind 2016 was hosted by Tony Robbins, world-renowned business leader. Past Mastermind hosts have included Shark Tank’s real estate mogul, Barbara Corcoran and President George W. Bush.

“It’s an honor to be recognized by Real Estate Executive Magazine as being a top influencer in our area of expertise. We love what we do,” said Karen Cannon, founder and owner of KCR.
“We’re not only in the real estate business. We’re neighbors—we know our communities and that makes the difference.”

The KCR team continues to strive to be the local experts, specializing in Dunwoody and Sandy Springs and everywhere from Midtown to Milton. They are setting new standards of extraordinary service which has earned them the reputation as the most trusted and fastest growing independent real estate firm in North Atlanta.

Renovate / Relocate – October Newsletter

Dear Karen,

With interest rates so low now and the market being so good, how do I know if it’s better to put money into improving my house or just move?

Sincerely,

Renovate or Relocate

Dear Renovate or Relocate,

Great question and one I get a lot these days! There are many factors to consider:

1) You want to make sure you do not over-renovate. For instance, it may not make sense to do a 200k renovation if you are going to price your home out of the neighborhood. 

2) You want to consider how long you think you might be in your home. If you move within a year or two, you may not be able to recoup the costs when you sell.

3) Also, consider whether you’ll be able to live in your home while the work is being done or if you have to move out temporarily. Can your marriage/family life handle the stress of a big renovation? Or are there smaller renovations that can improve your value but not be as intrusive? All these things should be taken into account as you contemplate renovating vs. moving-we’re here to help with those kinds of questions!

If you have a question for Karen, email us. You could be featured in an upcoming newsletter.

Check out our Ask Karen series & 3D Open Houses of all of our available properties.

The Home Equity Playbook

paoctober2016digitalmarketingcampaignlinkedinimage-1476136834673What is Home Equity?

Home equity seems to be a very simple calculation — the total amount of mortgages owed subtracted from the current market value of a home. Here is a simple example:

Current Home Market Value                    $325,000
Existing Mortgage                                       $225,000
Homeowner Equity                                     $100,000

One side of the equation is well defined, and it is found on the monthly mortgage statement, the loan balance. The other side is less obvious — the current market value of the property. The most accurate measurement of market value requires a comparative market analysis from a real estate professional.

Putting Home Equity to Work

Home equity represents the largest single asset of millions of people, and because it represents so much of an individual’s net worth, it must be treated with respect. Home equity is not a liquid asset until a property is sold, or it is borrowed against.

There are two types of loans that tap into homeowner equity as collateral.

Home Equity Loans

Many home equity plans set a fixed period during which the person can borrow money, such as 10 years. At the end of this “draw period,” the person may be allowed to renew the credit line. If the plan does not allow renewals, the homeowner will not be able to borrow additional money once the period has ended. Some plans may call for payment in full of any outstanding balance at the end of the period. Others may allow repayment over a fixed period, for example, of 10 years.

A home equity loan, sometimes called a second mortgage, usually has a fixed rate and a set time to pay it back, generally with equal monthly payments.

Home Equity Line of Credit

A home equity line of credit is similar to a credit card. The lender sets a maximum amount you can borrow, and you can draw money as you need it, though many home equity lines of credit require an initial draw. The interest rate varies daily, and is usually prime plus a set number, but the required payment is usually interest only. Once the loan has been paid down, the payment is reduced, and it can be paid off and initiated as many times as a homeowner requires.

How Much Equity can be Accessed?

Since the financial institution is lending money and using a home as collateral, they will typically loan 80% of the home’s equity. The bank does not want to take the risk that if the house price drops, they would be carrying a loan for more than its market value.

Here are some good ways to use money from a home equity:

  1. Invest in Your Home – Among the very best returns on your investment (ROI) include kitchen and bathroom remodels, adding square footage or an extra bath, enhancing curb appeal and repairing/keeping the existing structure sound.
  2. Invest in your Children’s Education – Using your home equity to finance a child’s higher education may be the greatest pay off of all.
  3. Supplement Retirement Needs – At retirement, when monthly income is reduced, a home equity loan could pay for a dream vacation or an unexpected major expense.
  4. Augment the Impending Sale of a Home – If you’re planning to sell soon, a home equity line of credit may be the best way to finance improvements to maximize your selling price.

On the flip side, avoid buying luxury items, assets that depreciate like cars and boats, don’t make investments in financial markets, and do not pay routine monthly bills. You should treat a home equity loan as an investment and not as extra cash when making financial decisions.

We Are Happy to Assist You

If you would like an assessment of the market value of your home and the current equity you can access, give us a call for a comparative market analysis.