Upgrading and Selling in 2017

The beginning of 2017 may be the best time to get a house on the market for anyone considering a change of scenery, but there are two major questions stopping them, “Why,” and “How?” 

There are plenty of reasons why this could be your best bet, the first: 2016 being named the year of low inventory. Trulia’s research concluded that hitting the market before other houses do this year is more than likely to get you sold as soon as possible. The beginning of the year is also an important period of time for different reasons depending on the climate you’re selling in. Houses in warmer areas may be more desirable in the winter, and colder areas are less appealing to those looking to browse. For cold-weather climates, a sense of urgency in buying is often fueled by the desire to not waste any time checking out every yard of every available house in the neighborhood. In addition, the probability that interests rates will be climbing in the next few years is higher, considering how low they’ve been in the past. If a potential interest rate spike is on its way, now is the time to move!

If you’ve already gotten started on the selling process, but haven’t received many bites, you may have trouble finding out how to up the appeal of your property. Taking the same approach to your own home that you would to a flipped house may be worth attempting, though it’s often overwhelming to figure out how to start. For high-energy sellers, this could be a great way to get better bids. Before you start to think about upping curb appeal and staging decor for an open house, consider these areas to start with:

- The Basement

This is oftentimes an area with no surface-level appeal. If you’ve already fixed the windows, plumbing, flooring, and the like, you may want to start sprucing the place up. It doesn’t have to be a completely finished basement (though that couldn’t hurt!) but establishing a sense of utility and desirability to be down there could be a major selling point. 

- The Bathroom(s)

Adding a half bath to have the minimum desired number of 1.5 bathrooms may be an in-depth investment, but for a flipper, it’s a necessity! Changing the fixtures and even updating the toilet are all less-expensive upgrades that won’t take up too much of your time.

- Cooking and Eating Areas

Is a kitchen island or a breakfast bar a feature that would compliment the space? Are there any walls that can be knocked out? How versatile is the area for both modern and traditional buyers, and how easily can you refinish the cabinets? 

 - The Living Room

This one is a no-brainer. Changing or removing the wallpaper or getting a fresh coat of paint on the walls can make a huge difference in the feel of the space. If it’s the most commonly used room in the house, it’s time to fix up any chips in the molding and holes in the walls from previously hung frames or decor. Remember, if you can DIY it, you should! Most high-end looking features ranging from lighting to storage can be replicated at a less expensive cost. Play around with things like wainscoting or shelving to get an expensive look for half the price.  

Have you flipped a house before? How many ways can you update and refinish your home within a budget? Let’s get started today!

Jeff Mistretta 

631-484-0133 | LongIslandAreaRealtor@gmail.com

Your Dream Home Resolutions Bucket List

The new year is almost here, and you may be thinking about all of the things you didn’t get done in 2016. Rather than mourning the time you missed, why not start a list of all the things you can do in 2017? This is a great opportunity for new or soon-to-be homeowners to gather their thoughts on all the possibilities they may have for their space. How many projects will you start?

The 2017 Home Bucket List:

• Refresh (or add to) what’s hanging on your walls.
• Paint your ceiling.
• Remodel and rethink your closet situation.
• Build a home theater.
• Put in a skylight.
• Add a kitchen island. 
• Install new flooring.
• Build a sun porch.
• Make space for a home office that you love to work in. 
• Install a garbage disposal.
• Add a rec-room.
• Build a library.
• Hang a hammock.
• Install surround-sound.
• Turn your basement into a wine cellar.
• Add an outdoor fire pit.
• Make use of unconventional—but thoughtful—storage solutions.
• Build a walk-in pantry.
• Clear out your garage to park in it.
• Add a fireplace.
• Install solar panels.
• Create a mudroom.
• Add a bar outdoors, indoors, or combine with accordion glass windows.
• Turn your attic into a hideaway.
• Build a breakfast nook.
• Add a balcony.
• Install a tub that you can fit in comfortably. 
• Make space for a real garden.
• Add an in-ground pool (even just a small one).

How many ideas of your own should be added to this list? If you’re still searching for your dream home, get in touch with us today!

Jeff Mistretta 

631-484-0133 | LongIslandAreaRealtor@gmail.com

Maximizing Your Space in a Smaller Home

• In 2005, 9% of new homes were 1,400 square feet or smaller.
• In 2015, 4% of new homes sold were 1,400 square feet or smaller.
• In 2005, 7% of new home sales were for houses 4,000 square feet and up.
• In 2015, 11% of new home sales were for houses 4,000 square feet and up.

For years, developers had been building larger houses, as wealthier buyers who wanted grander homes were the only people who would qualify under tougher mortgage standards. Recently, lot availability has declined and become more expensive, causing builder profit margins to become tighter, so builders have more of an incentive to build large homes that will sell for a higher price. Distressed sales rates are still over double what they were in the year 2000, many featuring medium to smaller-sized homes— giving developers even less of an incentive to build small homes. However, this doesn’t speak to the rate at which modest houses are being purchased. Odds are, those who aren’t buying brand new homes are taking advantage of the availability of more affordable, smaller ones.

After World War II, financial struggles gave birth to the modern midcentury homes that so many people know and love; a style returning to the tiny house movement and newer postmodern styles. The beauty of some of these great homes is what can be done to fully take advantage of the space by combining midcentury storage design and visuals with fresher ideas. One great style to turn to is the open floor plan, which should be executed thoughtfully; it’s important to consider the level of privacy needed for each space of the home, be it bedrooms, bathrooms, home offices, etc.

Playing with blurred layering and zone separation are important concepts to consider when remodeling a smaller space in order to keep your open area from feeling stale. Features like floor level, islands, furniture placement, and lighting can have a major impact on the feeling of space within a home. Utilize natural light and highlight areas of importance with a skylight or angled light. Allow the different areas of your home to be viewed from multiple angles by occasionally blurring the boundaries between two— like the kitchen and the dining area. Selecting the right furniture will also make a major difference in creating a great sense of space, like layering different heights to break up uniformity, as will utilizing smart storage practices.

 For houses of any size and budget, contact the Mistretta Group today!

Jeff Mistretta 

631-484-0133 

LongIslandAreaRealtor@gmail.com