Preparing Your Property
Getting ready to sell
Sometimes it takes only the first few minutes after a potential buyer walks into a house that we’re listing that the potent feeling hits: a powerful visceral reaction that says, “This is home.” It’s an emotional reaction that cannot be predicted or explained. It may be an intangible connection to the house or, more likely, the result of a seller properly preparing their home to show off its very best assets. Working with Stuart and Sally allows our select group of clients to take advantage of our experience in the areas of both interior design and marketing. We facilitate our sellers opening their own “discerning eye��? to envision how their property might be perceived by others. We are at your service to assist in “staging” a home for its most advantageous presentation.
But the marketing process begins much earlier, by effectively attending to this checklist of items that should be completed in any home before it goes on the market.
Outdoors / Exterior:
- Clean up any debris around property. Make sure lawns and hedges are neatly trimmed and pruned. Clear away any dead plants.
- Clean all windows, inside and out.
- The entrance of any home makes the important primary statement about the rest of the house. Make the area in and around front door appealing, tidy and attractive.
- Touch up areas that may require fresh paint or wood stain
- Repair any loose drains, window screens, and all other noticeable items around a home’s exterior.
Garage:
- If it’s cluttered, clean and organize the area, throw out any unnecessary items stored there to create a more visually appealing appearance.
Living Areas:
- The interior of a home should not just look clean, but smell as fresh and clean as possible. If there are cat litter boxes, have the litter changed frequently, even daily. Subtle air fresheners – or, better yet, the aroma of freshly-baked goods – are excellent additions to the fragrance of a clean home, but don’t mask unpleasant smells (pets, moldiness, dampness) with strong perfumes. The most enticing environment is as clean and fresh as possible.
- Refresh areas that require attention. Paint or touch up where needed. Clean drapes, wash curtains, dust frequently, and polish all furnishings. Pets are wonderful, but there shouldn’t be obvious signs of their activities: vacuum up pet hair, clean up litter boxes (and keep in discreet places), and keep feeding areas clean and tidy.
- Replace any burnt out light bulbs, dust off lampshades and glass globes where needed.
- Organize bookshelves and closets, drawers, and cabinets. When showing a house for sale, clutter is never your friend! Neatly arrange items and tidy up areas, stacking boxes and arranging shoes and clothing in an organized fashion.
Kitchen:
- Sinks, counter tops, and appliances – surface and interior! – should sparkle. Clean out refrigerators and wash down the shelves and surfaces. Food storage drawers should be as clean as possible. Deep clean the inside surfaces of ovens (if possible, they should look as “new” as possible) and every nook and cranny of gas and electric ranges
- The floor should be scrubbed and waxed frequently, particularly with heavy use. All tiles should be clean and shiny and grout should be cleaned and bleached or, if needed, replaced.
Bathrooms:
- Mirrors should be shiny and clean. All bathroom surfaces should be clean and free of soap scum, mildew, hard-water stains. If grout and/or caulking can’t be cleaned or bleached, replace as necessary.
- Arrange and clean cabinets and drawers.
- Replace shower curtain and bath mats if needed.
- Fix any leaky faucets
Overall:
- Walk through your house with a critical set of eyes, trying to note areas that may lessen the positive impact of the home. Fix, replace, or rearrange anything that negatively catches your attention. Try to anticipate what a buyer will notice or find potentially objectionable. You know your home better than anyone and intuitively understand how to present it in its best light.
- Check all doors to make sure they don’t squeak or stick.
- Listen! Are there objectionable noises that need to be addressed and fixed? Remember, a menacing, barking dog can make buyers uneasy and nervous.
- Keep your house temperature set at a comfortable level. You may personally prefer it too hot or briskly cool, but potential buyers may not!
- Lighting makes a critical difference. Are rooms well-lit? Do lamps have appropriate bulb wattages? Check the views out of all windows in the home and remove items inside and out that may hinder or lessen the visual impact of the view.
Ski the BEST in the Rockies!
When asked about one of the main draws to the Bozeman area for locals and tourists alike, undoubtedly the top quality skiing will come to the forefront of most conversations. Big Sky Resort, Moonlight Basin, and Bridger Bowl all offer excellent skiing and amenities that can compare favorably with the “big names” in the Rocky Mountain region.
Looking back at the 2006-07 season, the number of ski visits as a whole was down 6.5% nationwide from the record setting 2005-06 season. This setback can be attributed in part to abnormally warm temperatures and below average snowfall in most areas of the country. However, the Rocky Mountain region (which includes Montana, Idaho, Wyoming, Utah, Colorado and New Mexico ) seemed to be immune from the national trend with no significant decrease in the length of the season and actually a slight increase in the number of skier visits. In fact, the 2006-07 season, while only up 0.6% in number of visits, set a record for the third consecutive year by reaching 20.8 million visits, which comprised approximately 38 percent of the total visits nationwide.
Big Sky Resort has continually set high standards for not only skiing satisfaction but for a complete resort package. The area is frequently expanding and improving its offerings to ensure a memory filled experience – whether a day trip or complete vacation. But Big Sky definitely has Mother Nature on its side also. Big Sky encompasses 3,812 acres, 150 named runs, 400+ inches of average annual snowfall, and 4,350 feet of vertical drop. These statistics certainly showcase Big Sky as the best conditions Montana has to offer. However, Moonlight Basin adds an additional 1,900 acres, 400 inches of average annual snowfall, and 4,150 feet of vertical drop. Additionally, Bridger Bowl can certainly stand on its own with 1,500 acres, 71 trails, 350 inches of average annual snowfall, and 2,600 feet of vertical drop.
Just to give a glimpse of how attractive our local ski resorts are when compared to others in the Rocky Mountain region, the same statistics from many of the more renowned resorts are included. Vail, Colorado (the largest ski resort in the United States ) boasts 5,289 acres, 193 trails, 346 inches average annual snowfall, and a 3,450 foot vertical drop. Telluride, Colorado possesses 1,700 acres, 84 trails, 309 inches annual average snowfall, and a 3,530 foot vertical drop. Steamboat, Colorado has 2,965 acres, 165 named trails, 331 inches average annual snowfall, and a 3,668 vertical drop. Sun Valley, Idaho has 2,054 acres, 220 inches annual average snowfall, and a 3,400 foot vertical drop. Jackson Hole, Wyoming has 2,500 acres, 116 trails, 450 inches average annual snowfall, and 4,139 feet of vertical drop. Park City, Utah reports 3,300 acres, 104 runs, 350 inches of average annual snowfall, and 3,100 feet vertical drop. Finally, Deer Valley, Utah (which received the top ranking in SKI Magazine’s annual “Top 50 Resort Guide”) touts 2,026 acres, 99 runs, 300 inches average annual snowfall, and a 3,000 foot vertical drop. Within Montana, Whitefish Mountain Resort (formerly Big Mountain ) has 3,000 acres, 93 marked runs, 335 inches average annual snowfall, and a 2,500 foot vertical drop. Red Lodge Mountain consists of 1,600 acres, 70 trails, 250 inches average annual snowfall, and a 2,400 foot vertical drop.
With these figures, it is easy to see why our local resorts have much to be proud about. Quoting from Bridger Bowl’s website, “Bridger Bowl has become a cornerstone for Bozeman ’s recreational community and a major contributor to the area’s vibrant winter tourism economy. Bridger Bowl’s original mission still stands to this day: to plan, develop and maintain facilities and services in a financially sound manner which provide the best possible skiing experience at a reasonable cost to local, regional and destination skiers.” And from Big Sky Resort’s website, “With more accommodations, terrain and services than ever before, Big Sky Resort continues to make its mark on the mountain vacation industry, and more importantly, make fond memories for guests.”
So, how does all of this correlate to the real estate market? Second home buyers and investors look at and compare us to other communities in the region when making their buying decisions. Bozeman and Big Sky’s terrain, vertical drop and snowfall stack up near the top in every category. It is just another compelling component of the real estate economy which helps Bozeman stay vital and growing.
Robyn Erlenbush is owner of ERA Landmark Real Estate (with offices in Bozeman, Big Sky, Livingston and Clyde Park) and Intermountain Property Management. She can be reached at robyn@eralandmark.com.
Conservation in the West
By SCOTT McMILLION Chronicle Staff Writer
Region’s natural beauty draws newcomers, bolsters economy, triggers bitter battles
ERIK PETERSEN/Chronicle A deck on the main lodge at the Sun Ranch overlooks a sweeping view of the Madison Range. “Henry David Thoreau didn’t build a trophy home.”
Jim Barrett, Park County Environmental Council
Thanks to modern four-wheel-drive vehicles, you can live at an elevation of 7,000 feet and still be a soccer mom.
“It’s as much of a revolution and a change in the demographics as the horse was for the Plains Indian,” said archeologist Larry Lahren, who is also a Park County commissioner. “It’s been a revolution in terms of people moving into this area, particularly the hinterlands.”
Building Your Dream Home
“You see things and say,’Why?’ But I dream things that never were and I say,’Why not?” -George Bernard Shaw
BUILDING YOUR DREAM HOME
For many, the idea of actually committing to building the home of their dreams is too frightening and intimidating. But Stuart and Sally not only love building homes, they’ve followed their dreams and have been personally involved in numerous construction projects. Stuart and Sally understand the process that begins with the basic concept of what one’s very personal dream home might be like to the exciting day when the home is finished and the moving truck arrives to begin unloading the furniture. This is a unique process that takes, generally, between 18 to 30 months, but it all begins with desire. For many of our clients, the opportunity to move to the Bozeman community is also the inspiration for creating a very distinctive and personal home exactly suited to their lifestyle and family requirements.
It’s not unusual that new transplants to Bozeman or even natives seeking to finally live in their dream setting, ask Stuart and Sally to facilitate creating that special home, often starting by finding the ideal home site.
Working as a team, Stuart and Sally will obtain copies of any covenants and connect you with proper legal representation to insure that you can, indeed, build what you have in mind on that acreage.
FROM THE GROUND UP
If you wish, we can also assist our clients in selecting the right architect. Bozeman and the surrounding area is home to many world-renowned architects; in fact, the deciding factor won’t be finding an architect, but the one who will best interpret and create your vision of your dream house.
Through experience, we have discovered that many times the architect and the style of the house will also dictate the best possible builder for the project. Bozeman and Big Sky are currently in the midst of a building boom, and finding competent, reliable contractors and sub-contractors is not always a given or easy. Because of our own construction projects and our relationships within the building community, Stuart and Sally know many of the builders, project managers, and property managers in Bozeman and the Gallatin Valley. We are able to facilitate your project to whatever extent you would like our expertise. As an example, Sally built her first 10,000-square foot dream home in Bozeman while she was still living in Kansas City.
Stuart first developed her interest in remodeling homes while still living in Washington, D.C. and has honed her skills while living in Bozeman. She has extensively remodeled two major Bozeman homes for her family. Both Stuart and Sally have direct knowledge of what needs to be done to build a beautiful luxury home while living far from the building site. Instead of being a daunting process, it can be a pleasurable task if done with proper guidance and planning, hiring the right team, and having the project properly supervised.
Stuart and Sally welcome the opportunity to help your dream become a reality! Below is a list of architects that we know, respect and, in many cases, have worked with ourselves, including links to their individual web sites.
SELECTED ARCHITECTS
Van Bryan Studio Architects
Van Bryan has worked as Sally’s chief architect on four major projects in the Bozeman area. He has the ability to listen to a client and then create something that actually goes beyond what the client imagined.
Jonathan Foote & Associates
Jonathan Foote also has an international reputation and has been hailed as one of the first innovative architects to utilize reclaimed and recycled wood in his designs. Although he is now retired, architect Paul Bertelli has very ably filled his legendary role at this firm.
Bitnar Architects
Thomas Bitnar is able to interpret many styles, from classical to contemporary.
Cikan Architects
Frank Cikan’s work is wonderful.
My $1,200 Radon Job
ABOUT THE HOUSE By GWENDOLYN BOUNDS
The Least Sexy Home Improvement Could Be a Lifesaver
It might be the ugliest home improvement. Last month, I finally did something about my radon problem.
Two men came and drilled a five-inch-wide hole in my home’s bottom floor. They attached a suction system of white pipes and a big round fan to draw air — and radon — from underneath the house and vent it out through a black pipe stuck in the roof. The work took six hours and cost $1,200 — about what I paid a pro to retile my bathroom.
![[Radon promo]](http://s.wsj.net/public/resources/images/OB-BH837_radon__20080418183211.gif) |
| See the steps taken in Ms. Bounds’s project. |
Most homeowners have heard about the health hazards of radon, a radioactive gas that emanates from rocks, soil and water. Outside, it’s relatively harmless, but inside it can collect in dangerous concentrations, seeping in through cracks in the home’s foundation and other openings. Radon is the No. 1 cause of lung cancer among nonsmokers, and one in 15 homes has an elevated level prior to treatment, according to the Environmental Protection Agency. The agency estimates 750,000 to 1 million U.S. homeowners have taken radon-reduction steps over the years and says those steps, along with techniques in new construction, have helped prevent 6,000 deaths.
Pricing and Presentation are Paramount
| Setting the Stage for a Successful Sale or Pricing and Presentation are Paramount |
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Published in the Bozeman Chronicle, April, 2008. Traditionally, the onset of spring is the beginning of the busiest home buying and selling season. So if you have been waiting for the weather to turn, now is the time to think about readying your property to be put on the market. With a larger inventory of homes currently on the market than in the past few years, it is more important than ever to ensure that your home stands out from the crowd within its appropriate price range. First, pricing your home correctly from the onset is essential to successful selling. As soon as you decide to put your home on the market, it becomes a commodity for sale and must be viewed and marketed as such. Determining a competitive, reasonable offering price is the key to a timely sale. Knowing the background of comparable sales in the neighborhood is obviously important, but it must be coupled with the supply and demand for the location, size of the home, etc. The home’s condition is another consideration when comparing to other homes that are currently on the market. If the competition is all in move-in condition, and your home is in need of updates, the price must be willing to reflect this. Also keep in mind the timeframe in which you honestly need to sell the home. If urgency is imperative, then you may need to price it on the low end of the proper price range in order to move more quickly. Finally, take note that when homes are overpriced at the initial time of listing and have undergone several price reductions, they often end up selling for even less than their worth. Next, take some time prior to placing the “For Sale” sign in the front yard to complete home improvement projects, improve the exterior appeal, and stage the interior of your home. All are essential to get the attention of today’s buyer and will certainly pay off in terms of final sales price and time on the market. If you have been in the middle of one or several do-it-yourself projects, it is definitely time to finish them up prior to potential buyers viewing your home. Curb appeal is a much used term, but the importance is paramount. If the prospective buyer is not compelled to actually get out of their vehicle and walk up to the front door, it doesn’t matter how much potential the home has. Once a buyer has decided to view the home, the first impression must make a huge impact. Hiring a staging professional is certainly an option if your budget allows. A home stager can make the most of your personal belongings or bring in furnishings that will best showcase your home’s possibilities and bring out the maximum value possible in the home. Generally speaking, the cost of this service is almost always less than the initial price reduction of an unsold, listed property. Montana Home Staging and Staging Spaces, companies servicing the Bozeman and surrounding area, both offer a wide variety of services with the goal of turning a “house hunter into a home buyer.” Staging has been on the rise in recent years with statistics to back up its effectiveness. The payoff can truly be great. One local staging company is credited with transforming a home that was sitting on the market for 12 months into selling in 4 weeks. National statistics show that staged homes generally sell in ½ the time of unstaged homes. Additionally, according to a 2007 survey published by homestagingresource.com, the cost of professional home staging can garner a 343% return on investment in terms of increase in sales prices. Furthermore, 91% of real estate agents nationwide now recommend this service. These numbers are both up from the same survey in 2003 when the return on investment was estimated at 169% with a 76% agent recommendation rate. In fact, the only category that received a higher return on investment is “Clean and De-clutter” due to the fact that the cost involved is so minimal. Small changes can really make a big difference when positioning your home as the best deal in your price range. If buyers leave your property with a memorable impression of it, you will have a much better chance of selling your home at the best possible price in the shortest amount of time, which is very important in this competitive market. Keep in mind that being proactive is the best first step to a successful real estate sale. Robyn Erlenbush is owner of ERA Landmark Real Estate (with offices in Bozeman, Big Sky, Livingston and Clyde Park) and Intermountain Property Management. She can be reached at robyn@eralandmark.com. Visit us at http://www.eralandmark.com/ & http://www.stuartandsally.com/ |
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Understand the Economic Stimulus Package
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On February 13, 2008 , the economic stimulus package was signed into law by President Bush. This package includes many provisions which are important to the housing market, most notably increasing the loan limits for Fannie Mae and Freddie Mac (GSE) and the Federal Housing Administration (FHA). The National Association of Realtors ® (NAR) has shown great support for this package and predicts a jumpstart in the housing market which will help countless families and the U.S. economy as a whole. According to research conducted by the NAR, increasing the FHA loan limits could assist 138,000 Americans enter the housing market and will also give almost 200,000 homeowners the opportunity to refinance and ideally keep their current homes. Additionally, an economic impact study estimated that increasing the GSE’s loan limits could lead to as many as 500,000 refinanced loans and reduce foreclosures by 210,000. It is also anticipated that over 300,000 additional home sales could occur; there would be a reduction in housing inventory; and the prices for homes would increase and strengthen. The belief is that by increasing the loan limits for Fannie Mae and Freddie Mac, there will be improved liquidity in to the nation’s much stressed mortgage market. To use some numbers to put this in perspective, the FHA limit will increase to as much as $729,750 in high cost areas (to 125% of local median home prices) for loans approved on or before December 31, 2008 . The GSE limit will increase up to $729,750 for loans originated after July 1, 2007 to December 31, 2008 . Fannie Mae and Freddie Mac are currently topped out at $417,000. Please keep in mind these figures are estimates and not yet official figures. For those not familiar with FHA or GSE loans and their importance to the housing market, FHA loans- which are a part of the U.S. Department of Housing and Urban Development (HUD) – are insured loans, so lenders can generally offer better deals. They are often popular to first time homebuyers with a down payment as low as 3% of the purchase price, and most of the closing costs and fees can be included in the loan. Fannie Mae exists to expand affordable housing and operates in America ’s secondary mortgage market to ensure that mortgage bankers and other lenders have enough funds to lend to home buyers at low rates. Freddie Mac purchases, securitizes and invests in home mortgages, and ultimately provides homeowners and renters with lower housing costs and better access to home financing. Of course, the economic stimulus package is really somewhat of a short-term answer to a bigger issue. Additionally, the loan limit increases will only be in effect for the current year. The FHA and GSE Reform Bills are currently in the works, but not yet passed into law. However, this package should meet its goal of giving the housing market a boost as well as jump-starting overall consumer spending. NAR’s President, Dick Gaylord, recently reiterated the fact that with more affordable financing options, lower housing prices, and historically low interest rates, buying a home now is more affordable than it has been in many years. Furthermore, homeownership is still the best way that most Americans can build their wealth, and is one of the best long-term investments a person can make. Robyn Erlenbush is owner of ERA Landmark Real Estate (with offices in Bozeman, Big Sky, Livingston and Clyde Park) and Intermountain Property Management. She can be reached at robyn@eralandmark.com. Visit us at http://www.eralandmark.com/ & http://www.StuartandSally.com/ |
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Second Century Acquires ePropertyData
Daily Real Estate News | March 10, 2008
Second Century Acquires ePropertyData
THE NATIONAL ASSOCIATION OF REALTORS® has acquired ePropertyData, a major provider of commercial information exchange (CIE) services for the commercial real estate industry.
The acquisition was accomplished by NAR’s new for-profit subsidiary, Second Century Ventures LLC, a strategic private equity fund that was conceived to help support NAR members in emerging technologies and services.
“Through this acquisition, NAR will provide its members with two important new services — a robust national commercial real estate listing and transaction platform, and a broker-centric solution provider for the CIE industry,” says NAR President Dick Gaylord. “The national listings and transactions platform will give our commercial members national exposure for all their sale and lease listings and provide the industry with an excellent and trusted resource to search for properties across the country.”
For the past five years, ePD, based in Gig Harbor, Wash., has been providing CIE services to the commercial real estate industry. ePD operates two of the largest CIEs in the country, CommercialMLS.com, on behalf of the 4,500-member Commercial Brokers Association in Seattle, and CommercialGateway.com for the 2,000-member commercial division of the Houston Association of REALTORS®.
Lease to Own Primer
Daily Real Estate News | March 10, 2008
Lease-to-Own Primer
Lease-to-own agreements can help sell a hard-to-sell property during a sluggish housing market.
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