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Real Estate Market Outlook

Summer is an opportunity to display your home at it’s very best. The vibrant green of a well-kept lawn, the beckoning of outdoor spaces for rest and reflection and cooking on the grill. What’s not to love? Of course, here are a few, ahem, “concerns” to address before that for sale sign hits the front lawn. Make sure your home looks “purchase perfect” by acknowledging some of these troublesome items that could derail an open house or turn off a prospective buyer.

  1. Water drainage: We’ve had a rainy spring in the northeastern part of the country and with the ground in many places fully saturated, even homes that have never experienced the problems of excess water are now wondering if they are susceptible to potential damage. Sometimes it’s a nearby home or property with water run-off that has the potential to impact your own home.To assure a dry basement and yard, it’s worth consulting a professional to assess your risk before putting your home on the market. There are many products that can be discreetly installed and effectively keep water at bay such as grates and catch basins, channel drains and trenches, standard drains and water discharge emitters. Residential ResQ is one example of a company that can assess your risk and recommend preventive measures as well as solutions to any existing problems.Even the front yard and walkway contain plenty of options to create functional water drainage on your property. Check with a local expert.
  2. Critter control: Fortunately here in the Northeast, we don’t often have problems with snakes and other creepy crawlers that are prevalent in other parts of the US. (If you’re brave, watch this video of a snake at someone’s front door. Ugh.) Unfortunately, we’re not completely rodent and insect free, especially in the summer! When your home is inspected and treated for hornet nests, seasonal bugs, mice, ticks, carpenter bees and termites, it’s guaranteed insurance against any unexpected guests showing up at your open house or home showing. Plus, paperwork that proves you’ve maintained a pest control protocol tells the buyer that your home’s welfare is top notch no matter the season.
  3. Bird house fan or foe? Bird houses – Many people love birdhouses; others don’t care for birdhouses and the mess they can create without regular cleaning. To some, it’s a real turn off. Plus, dirty feeders can also have an odor, which can attract unwanted pests, such as wasps, raccoons, rats, and other visitors that will damage or destroy the feeder. Google “birdhouse maintenance” for tips to keep your birdhouses clean and attractive. A tiny detail, but something that can stand out in the summer and easily turn off an eager buyer.
  4. Creepy Lawn Ornaments: Everyone has a lawn ornament memory they just can’t shake. Whether it’s a positive memory of a wagon planter that you and your siblings sat on for a picture every summer or the neighbor’s creepy gargoyle that gave you nightmares, lawn planters and ornaments have much more staying power than expected. Do a careful walk through of your property, maybe even ask a friend to weigh in—is there anything on your lawn or deck that needs to go ? If you’d like for me to take a walk through your home to dole out advice for YOUR “purchase perfect” home this summer, give me a call: (203) 550 6082. Or send me an email.

Winter brings out the nesting instinct. So once you can move away from your fireplace and hot chocolate – what house projects are you up for? Are you itching for some sledgehammer action a la Chip Gaines of Fixer Upper? Or is a complete style and color overhaul of one room calling your inner weekend warrior?

The best home improvements give you a feeling of accomplishment and increase the value of your home. Here are a few worthy of the pain, suffering and pennies that will likely deliver a resale return here in Greenwich, CT.

Add a Bathroom

Add a bathroom, add value. Every real estate listing starts with these two key stats: how many bedrooms and BATHROOMS. Little known secret to family harmony: one bathroom per teenager and spouse. It may seem excessive—until you’re the one desperately waiting to get in.

You can indulge your home improvement spirit animal and take on the job yourself, but it’s a good idea to talk with a contractor about your home’s layout and the best spot to add another bathroom. For a few hundred well-spent dollars, a contractor or designer can help you create a plan and avoid heinous pitfalls. Even a half bath added to the mudroom or off the kitchen adds resale dollars and keeps dinner guests from having to wander your home in order to find and use the facilities.

Return on investment: High

Update a Bathroom

Did you do a kitchen makeover recently? Your bathrooms are jealous. Lose the early aughts (or older!) décor and enhance your home’s market value. Functionality options for bathrooms are endless today and you’ll be amazed what you can accomplish in even the smallest spaces. Browse on HGTV.com, Houzz.com, or any of the big box home stores websites. Regardless of your budget or style, you’ll find endless bathroom cabinet, shower & tub options.

Return on investment: High

Get Rid of Rugs and Consider Hardwood, Laminates or Tile Flooring 

Modern flooring options offer great benefits: they are easier to clean, they don’t hold on to dust and dirt the way carpet does, and it’s a proven way to reduce allergens in the home. A definite plus for buyers and another update worth the investment.

Return on investment: High

Not up to those big changes but itching to start some renovations to get your house on the market? Consider these:

  • Paint the front door;
  • Install crown molding (try it in a bathroom and see how you like the results);
  • Consider implementing some tech: auto shades, charging stations, tv mounts, HVAC updates;
  • Clean out the linen closet and/or master closet and install better shelving.

I’m getting ready for spring too with new houses coming on the Greenwich market. Stay tuned! And do follow me on Facebook or Instagram.

Every December, there’s a recap of what we loved in the past year and what’s expected to captivate us in the year ahead. In addition to the year’s best books, movies and podcasts, there’s something a little closer to home that we look at here at Charles Paternina Properties each year—the design trends that will quicken the heart rate of house hunters.

Embracing design trends can help distinguish your home from others on the market. It’s not just all about having the latest and greatest; some home trends decrease required maintenance, encourage energy conservation, and better accommodate our digital lives.

While it’s fun to check out the latest trends, the ultimate decision to make a major change should hinge on your needs and budget.

Freestanding tubs. Freestanding tubs may conjure images of Victorian-era opulence, but the newest models come in many shapes and sizes. These tubs complement other bathroom trends including open wall niches and water-saving commodes. (Check out the stand-alone tub in this fabulous Greenwich bathroom.)

Alexa! Prices have come down for technologies such as web-controlled security cameras and motion sensors for pets. Newer models are also easier to install and operate since many are powered by batteries, rather than requiring an electrician to rewire an entire house. Software allows multiple smart devices within the home to communicate with each other. And the biggest tech movement is the digital assistant—Alexa, Google Home, and more. And, yes, these technologies also present challenges, such as security issues. Nonetheless, the trend continues.

Charging stations. With the size of electronic devices shrinking and the proliferation of Wi-Fi, demand for large desks and separate home offices has waned. Home owners still need a dedicated space for charging and storing, and the most popular locations are a corner of a kitchen, entrance from the garage, and the mud room. Before long we’ll start to see even more creative integrations for our digital devices.

Specialized Storage. The new buzzword is specialized storage placed right where it’s needed. Homeowners want everything to have its place. More people are increasingly willing to pare the dimensions of a second or third bedroom in order to gain a larger walk-in closet in their master bedroom. In a kitchen, it may mean a “super pantry”—a super-sized butler’s pantry with prep space, open storage, secondary appliances, and even a room for wrapping gifts. More storage is all about minimizing clutter and as we all know… clutter eats equity.

Be sure to check back with us: we’ll update you on all of the new trends in real estate in Greenwich throughout 2018! And in the meantime, follow me on Facebook and Instagram.

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