RPV Eastview Newsletter

In 1827, Don Dolores Sepulveda received an original land grant to Rancho de los Palos Verdes that supported several thousand heads of cattle and flourishing hacienda. Rancho Palos Verdes literally means “Ranch of Green Sticks” but some say it takes its name from Canada de Palos Verdes, or “Canyon of green trees” and RPV was originally inhabited by the Gabbrielino-Tongva Tribe. [1]

Then, for a brief period of time in the early 1900’s, the Peninsula enjoyed prosperity as a cattle ranch and rich farming area. During this time, 2,000 head of cattle roamed the open areas.

Japanese families farmed the moist southern slopes with fields of beans, peas and tomatoes, while the manager of the cattle ranch farmed the dryer northern slopes with barley for hay and grain.2

In 1913, the found father of the Peninsula, Frank Vanderlip, bought the 16,000-acre Palos Verdes Peninsula and embarked on a grand vision to develop the “Palos Verdes Project” into the most fashionable and exclusive residential colony in the nation. The first homes in Rancho Palos Verdes appeared in the region in 1924, two years before the historic Point Vicente Lighthouse was built in RPV. 3

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1"Terranea History." Rancho Palos Verdes Resorts. N.p., n.d. Web. 10 Oct. 2014.

2 "Rancho Palos Verdes - The Birth of a City." PalosVerdes.com. City of RPV, n.d. Web. 15 Oct. 2014.

3 "Terranea History." Rancho Palos Verdes Resorts. N.p., n.d. Web. 10 Oct. 2014.

This Month in Real Estate: August

Construction to Spiff up Abalone Cove About to Start

Posted by Penny Arévalo | via PV PATCH

http://palosverdes.patch.com/groups/around-town/p/construction-to-spiff-up-abalone-cove-about-to-start

Construction is finally set to begin on upgrades to Abalone Cove Shoreline Park, the city of Rancho Palos Verdes announced.

In 2011, the city got a grant to enhance the public offerings. On Monday "or soon thereafter," construction will begin to:

• Improve trailheads and trails (including ADA-compliant trails)
• Construct an exploration play area
• Replace picnic tables and benches
• Improve picnic areas
• Install park benches
• Install new native plants and irrigation lines (water conservation design)
• Construct an outdoor classroom with shade structure
• Replace trash receptacles
• Install mutt mitt dispensers
• Install an ADA-compliant binocular along the bluff top trail
• Install interpretive signs
• Improve viewing areas

Click here to view the project plan.

Construction is expected to last three months, during which the park and parking lot will remain open during regular park hours. However, visitors may experience minor inconveniences around the construction zone (located between the parking lot and the bluff top), the city report. 

The western portion of the existing gravel parking lot will be closed to accommodate the construction staging area.

READ MORE HERE...

http://palosverdes.patch.com/groups/around-town/p/construction-to-spiff-up-abalone-cove-about-to-start

Eight Local Elementaries in the Palos Verdes Peninsula District Deemed 'Distinguished' Schools

From a press release from state Superintendent for Public Instruction:

State Superintendent of Public Instruction Tom Torlakson today named 424 public elementary schools -- including eight in thePalos Verdes Peninsula Unified School District -- California Distinguished Schools for their strong commitment and innovative approaches to improving student academic achievement.

“I applaud these strong, thriving schools that are making such impressive strides in preparing their students for continued success,” Torlakson said. “This award is well-deserved by these school communities for their enduring dedication to high standards, hard work, and unwavering support.”

The 2014 California Distinguished Schools Program focuses on California’s students’ right to an equitable and rigorous education, and recognizes those schools that have made progress in narrowing the academic achievement gap.

To apply for Distinguished School honors, schools must meet a variety of eligibility criteria, including accountability measures. Once schools are deemed eligible, the California Department of Education (CDE) invites them to apply to be recognized as a California Distinguished School.  

           

The process consists of a written application, which includes a comprehensive description of two of the school's signature practices, and a county-led site validation review process focused on the implementation of those signature practices.

Local schools on the list are:

• Cornerstone at Pedregal Elementary
• Lunada Bay Elementary
• Mira Catalina Elementary
• Montemalaga Elementary
• Point Vicente Elementary
• Rancho Vista Elementary
• Silver Spur Elementary
• Vista Grande Elementary

http://palosverdes.patch.com/groups/schools/p/eight-local-elementaries-deemed-distinguished-schools?ncid=newsltuspatc00000010

How to refinance your mortgage

Here are six tips to consider if you're looking for refinancing options outside of HARP by MSN Real Estate

By Juliette Fairley of MainStreet | MSN

http://realestate.msn.com/how-to-refinance-your-mortgage

1. Shop around. The job of the consumer is to find the best APR and the lowest fees. "They vary the most in the mortgage financing industry," said Steve Nakash, national retail manager with Nationwide Direct Mortgage.

2. Maximize your time. Mortgage brokers can check five or six banks to obtain the best rates of the day. "Bigger banks like Bank of America only have access to their own bank rates," said Tim Lucas, a former loan officer and editor of mymortgageinsider.com.

3. Protect your credit report. Narrow your choices down to three lenders before having your credit report pulled by any one of them. "If you get your credit report pulled too many times, it affects your credit score," Nakash said. "If you are not doing business with a particular bank, don't allow them to pull your credit."

4. Determine your mortgage options. "Credit unions are good for short-term fixed-rate mortgages at 10 or 15 years, but for a mortgage more than a million dollars, consider a private bank, especially for a 10-year or seven-year ARM, because the private banking departments of big banks have competitive rates for larger mortgages," said Michael Moskowitz, president of Equity Now, a direct mortgage lender.

 5. Seek continuity. When refinancing with an online lender, request to be handled by only one account representative to avoid being passed around from one rep to another. "Most online lenders will accommodate that," said Nakash, who services eight states online including California, Colorado and Washington.

6. Pay attention. When the loan-to-value ratio is more than 80%, secure mortgage insurance. "If you have a $375,000 loan, 80% would be $300,000," Moskowitz said. "Mortgages of more than 80% must include insurance, according to Fannie Mae, Freddie Mac and FHA requirements."

http://realestate.msn.com/how-to-refinance-your-mortgage

How to Find the Perfect Apartment for Rent – 10-Step Process

By Jacqueline Curtis | Money Crashers

http://www.moneycrashers.com/how-to-find-cheap-apartments-for-rent-guide/

Tips to Find a New Home to Rent

1. Determine Affordability

The U.S. Census Bureau suggests that your monthly rent should not exceed 20% of your monthly income – 30% at the most. For instance, if you bring home $4,000 each month, you should cap your search at around $1,200. Taking the time to update and polish your personal budget before you start looking for apartments can not only help you figure out your price range, it can also help you identify areas in your personal finances where you can cut back if you want to spend more on a pricier apartment. After scrutinizing the numbers, you may decide to drop that costly TV subscription to allow you more wiggle room in your budget for the right place.

Create your budget with a simple spreadsheet or an online service like Mint or PearBudget. Detail your income and expenses down to the penny, from fixed obligations such as phone bills, student loans, and car payments, to variable month-to-month costs such as groceries, entertainment, and clothing. You can lower your food bills by clipping coupons, and save money on your cable, smartphone, and Internet by bundling all three services under one provider. These small moves can really add up, giving you the funds you need for your future housing.

2. Lower Rental Costs

There are several things you can do to find a lower monthly rent:

• Look Outside an Urban Area. While living in the city center may seem like a priority, it doesn’t mean much if you can’t afford the rent. Instead, check out apartments in the suburbs within a conveniently commutable distance to work.
• Consider Transportation Costs. Urban areas generally require a smaller transportation budget, since you can likely take public buses or subways to get around. However, you still need to take transportation costs into consideration, whether it’s a bus pass or gas money, if you choose to live away from the city center.
• Get a Roommate. You can slash the price of any apartment in half simply by sharing it with someone. You need a landlord’s approval before doing so, but having a roommate can significantly reduce the financial pressures of renting. Just make sure you have a written agreement with your roommate laying out all obligations.
• Check for Subsidies. The U.S. Department of Housing and Urban Development (HUD) routinely offers subsidies for those with lower-income jobs who may not be able to afford rent. Search the HUD website to find affordable housing or see if you qualify for subsidies.
• Think Small. Square footage comes at a premium in an apartment, particularly in the number of rooms. Going for a studio or one-bedroom may mean missing out on some space, but you make up for it with big month-to-month savings. Assess how much space you really need based on your lifestyle, visitors, pets, and storage. You may find that you’re happier paying less for a smaller place.
• Negotiate. Unless you’re apartment hunting in a popular area with little renter turnaround, many landlords are amenable to negotiating. Check out the rates for comparable apartments with similar amenities in the area and bring your research with you to strike a better deal. You can also offer to pay rent for a longer chunk at a time (a landlord may lower the rate if you pay three or six months at a time) or choose to sign a longer lease to score a better deal overall.

3. Add Renters Insurance

For some, renters insurance is a choice, but for the vast majority, it’s required by a landlord. In either case, you should add it to your budget. It covers losses in case you suffer a break-in, and it also helps cover your landlord if you do damage to the property. A landlord insures the building, but renters insurance covers what’s actually inside it.

Luckily, it’s pretty affordable. Rates depend on geographical location, amount of coverage, and amount of rent paid, but, on average, you can expect to pay around $500 per year on $25,000 worth of coverage – about $12 to $15 per month.

4. Run a Credit Check

Many landlords run credit checks to see if there are any glaring issues with potential tenants, such as unpaid bills or bankruptcy. You can also expect a background check. Although landlords run these checks prior to approving you, it’s actually a good idea to request your own free credit reporton your own. That way, you can comb through to check for any potential roadblocks and contest any errors you may find.

All three credit reporting agencies (Equifax, TransUnion, and Experian) are required by the FTC to offer one free credit report each year. It’s no cost to you and won’t affect your score if you request it, but you do need around three weeks to actually receive the report.

5. Start Hunting

Don’t leave apartment hunting for the last minute. In a perfect world, it should start around three months before your “must move” date. Many current tenants have to let their landlords know of vacancies in advance – the majority of areas require renters to give at least 30 days’ notice, but plenty give more.

While the features you want in an apartment are specific to you and your lifestyle, there are a several basic things you need to look for:

• Price. Avoid looking at apartments outside of your budget. Landlords are unlikely to discount the rent, and you could end up either overspending or being disappointed when you can’t afford the apartment of your dreams. Instead, set a firm number and only look for places that fall within your budget.
• Transportation. If you’re currently without a car, check every potential apartment’s proximity to public transportation. An apartment may be well-priced and in a great neighborhood, but if you have to spend most of your time walking or calling taxis, it might not be so attractive. What’s more, you need to factor the cost of transportation into your budget for a realistic picture of how much an apartment really costs.
• Convenience. Choosing an apartment that is conveniently located can make your life a lot easier. Look for a place that’s close to work, shopping, transportation, and amenities such as laundry.
• Safety. Not only should an apartment be in a safe neighborhood, landlords should make an effort to ensure their tenants feel safe inside. Proper locks on each door, private entrances, and security should all make you feel better about renting.

6. Gather Your Down Payment

Many landlords require a down payment, which usually includes the first and last month’s rent, along with a security deposit equal to one month’s rent. Therefore, if you’re forking over $800 per month for a new place, you need $2,400 ready to go when you actually sign your lease. Your first and last month’s rent is obviously retained by the landlord, but your security deposit is generally returned if you leave the property in the condition you found it. Otherwise, it can be applied to maintenance, repairs, and cleaning.

While you won’t need to give a landlord a security deposit until you sign the lease, it’s always a good idea to have the amount saved up in your bank account. That way, you won’t lose out on a potentially perfect apartment to a better-prepared renter simply because you didn’t have the money.

7. Prepare Documentation

Landlords take a substantial financial risk if they don’t thoroughly check out each applicant, so in addition to credit and background checks, some may require extra documentation. Gather the following papers and keep them on file in advance of your search:

• Letter of Employment. A landlord needs to know you’re gainfully employed and able to make monthly payments based on your salary. This letter should be printed on company letterhead and include an affirmation that you work there, the duration of your employment to date, and your monthly or yearly salary. It should be signed by a supervisor.
• Pay Stubs. These corroborate the information in the letter of employment.
• Tax Returns. If you’re self-employed, tax returns from the last couple of years should suffice in place of pay stubs. You may need to offer extra explanation as to what you do for work and the amount you make annually.
• Reference Letters. A landlord wants to know that you’re a great tenant. If you’ve rented before, ask for reference letters from past landlords explaining that you paid your rent on time and cared for the property. If you’ve never rented before, ask for letters from previous employers or acquaintances who can confirm that you’re responsible and honest. Just make sure they’re from people not related to you – glowing recommendations from your mom won’t do the trick.

8. Talk to Tenants

While you want to make a good impression on the landlord, you also need the landlord to make a good impression on you. The best way to find out if you really want to live in a certain property is to talk to past and current tenants. In general, you want a landlord who is courteous and safe, and who takes care of maintenance issues promptly. Ask about tenant turnover, infrastructure issues, and response times to complaints.

This is also the ideal time to ask about living expenses in the area, especially if you’re moving to a new neighborhood. Current tenants can give you a rundown of what they spend on transportation,utilities, and entertainment, as well as information about the neighborhood, such as where to eat, the location of specific school districts, and the best local amenities.

9. Do a Walk-Through

Don’t sign that lease just yet. After everything checks out and you’re happy with the apartment, location, and landlord, you should do a final walk-through before signing on the dotted line. Because previous tenants may have caused damage or maintenance issues, you need to be sure that you won’t be responsible for any issues that weren’t your fault.

Come prepared and check for the following:

1. Turn on lights and faucets, and flush toilets throughout the apartment to make sure they all function properly.
2. Check for rodent or insect infestation, particularly in cupboards and storage spaces. Chew marks or droppings are a major red flag.
3. Bring along a cell phone charger and plug it into the outlets to make sure they all work.
4. Check smoke alarms and look for fire safety equipment, such as an extinguisher in the kitchen.
5. Open and close and lock and unlock doors and windows.
6. Turn on all included appliances to make sure they’re working.
7. Examine floors and walls for any type of damage. Carpet, hardwood, linoleum, drywall, and tiles should all be inspected.
8. Take pictures of any problem areas with a digital camera and show them to the landlord. Save the file so if there are any discrepancies with maintenance or problems getting your security deposit back when you move, you have evidence to prove you didn’t cause the damage.

10. Read Over and Sign the Lease

Lease agreements vary depending on time frame and contract terms.

• Periodic Leases Work Best for Shorter Durations. With a periodic lease, the landlord acknowledges that your situation could change from month to month, allowing you to pay and renew your lease monthly. However, these leases can be more expensive, and because you have to renew each month, the landlord reserves the right to raise the rent at any time. You need to give your landlord 30 days notice before vacating the apartment, so this arrangement is best only if you truly need short-term living space.
• A Fixed-Term Lease Is Most Common. Contract with your landlord to stay in the apartment for a specific period of time – three months, six months, a year, even two years. In many cases, if you choose to move out, you’re still responsible to pay for the time left on your lease, whether you live in the apartment or not. This can mean locking in a lower rate, though, which is ideal for longer-term living situations. Occasionally, landlords let renters out of their lease if a penalty is paid, so be sure to discuss contingencies before you sign.
• Subleases Are Three-Party Lease Agreements. They often occur when a renter needs to vacate an apartment, but is still in a lease with the landlord and responsible for the rent. With a sublease, the original renter finds another resident to take over lease payments until the term is up. The renter then pays the landlord for the duration of the contract. Subleases must be approved by the landlord, so if someone offers you a great deal on the down-low, it could be suspect.

http://www.moneycrashers.com/how-to-find-cheap-apartments-for-rent-guide/

Tips For Buying Luxury Real Estate

By Jean Folger | Investopedia.com

http://www.investopedia.com/articles/personal-finance/022714/tips-buying-luxury-home.asp

There is not one design, style or size that embodies a luxury home. It could be a sprawling 15,000-square-foot French manor set on several rolling acres, or it could be a 4,000-square-foot contemporary home nestled into the side of a mountain. Although it's difficult to quantify exactly what luxury means, most buyers think they know it when they see it.

Across the United States, sales of luxury homes have been hitting records. The number of California homes selling for $2 million or more, for example, reached an all-time high in 2013, as the state rebounded from the foreclosure crisis. The U.S. is not the only place seeing bitg sales of luxury homes. Vancouver, Canada's priciest real estate market, saw a record 36% increase in 2013 over the previous year on sales of homes priced over $2 million.

Prices for luxury real estate have also seen significant increases over the last couple of years. According to Knight Frank's Prime Global Cities Index, which tracks luxury real estate in 30 metropolitan markets around the world, the hottest luxury market now is Jakarta, which saw price increases of nearly 38% at the end of 2013 over the previous year. Knight Frank defines luxury real estate as homes that were sold in the top five percentile in terms of value. Other double-digit price increases in the last quarter of 2013 over the same quarter 2012 include Dublin (17.5%), Beijing (17.1%), Dubai (17%), Los Angeles (14%), Tel Aviv (12.7%), Bangkok (12.3%), San Francisco (10.4%) and New York (10.4%).

Why the Growth?

It may seem incongruous that luxury markets are heating up, given that much of the world is still recovering from the 2008 financial crisis. Like the financial markets, the real estate market operates under the law of supply and demand. And by nature, there are a limited number of luxury homes for sale at any given time in a particular market. That limited inventory alone can help drive up prices as multiple buyers bid on a single luxury property.

Strong Job Market

In many metropolitan markets, such as Denver, low unemployment rates coupled with well-paying jobs have fueled the luxury real estate market. Chris Mygatt, president of Coldwell Banker Residential Brokerage in Colorado, said, "We have never seen this kind of frenzy in luxury home sales before. The strongest single market segment for 2013 was clearly the luxury home market. If you include the sales of properties priced at over $500,000 - the top 10% of the market - we saw an increase of 44% year over year."

International Buyers

In the U.S., international buyers represent a growing percentage of the real estate market, including the luxury market. From April 2012 - March 2013, international transactions were at $68.2 billion, which made up more than 6% of total U.S. existing home sales (in dollars), and more than 4% of transactions, according to the National Association of Realtors (NAR); 2013 Profile of International Buyers. Florida, California, Texas and Arizona were the leading destinations during that period, with the majority of international buyers coming from Canada, China, India, Mexico and the U.K. These numbers represent a small decrease from 2012's $82.5 billion in sales to international buyers, but NAR believes this is related to the slow growth in some major European economies and that the issue "should dissipate over time."

The publication also cites that international buyers typically purchase higher-priced properties compared to domestic clients: international buyers spent an average of $354,000 versus $228,000 for domestic purchases. Due in part to the tight U.S. credit standards facing foreign buyers, the majority of international purchases are all-cash deals (63%). This can put other buyers who need financing at a disadvantage, since all-cash deals tend to move faster through the process.

U.S. Relatively Inexpensive

The U.S. is home to only one of the top 10 most expensive cities in the world, making the U.S. a relatively inexpensive and attractive destination, both in terms of cost of living and housing. According to Forbes Magazine, the top 10 most expensive cities in the world (as of March 2013) are:

1. Hong Kong, China
2. Tokyo, Japan
3. London, UK
4. Paris, France
5. Moscow, Russia
6. New York, NY
7. Shanghai, China
8. Singapore
9. Mumbai, India
10. Sydney, Australia

Buying a Luxury Home

According to the 2013 Profile of Home Buyers and Sellers published by the National Association of Realtors, nine out of 10 buyers used the Internet at some point when looking for a home, and 43% of recent buyers first found the home they purchased online.

While the vast majority of homebuyers rely on the Internet at some point during their home searches, luxury homebuyers can be at a disadvantage when it comes to finding properties online. Many high-end properties aren't listed on MLS or search engines. And, in order to protect their privacy, many sellers avoid putting information and photos of the property on the internet.

Find a Qualified Real Estate Agent

If you are in the market for a luxury home, a qualified real estate agent who knows the luxury market may be your best bet for finding properties that are for sale but that are not necessarily easy to find because of privacy concerns. An agent familiar with the luxury market may have inside information about listings before they hit the open market. And, an experienced agent will be able to help you determine the market value of a luxury property. Most residential real estate is valued using comparables - similar properties in the area that have recently sold. Valuing luxury properties can be a challenge since often there are no similar properties in the area.

Financing 

The loan process for luxury homes typically takes longer than for smaller mortgages. Even if your financials are in good order, it may take 45 to 60 days to secure a loan. Since it can take extra time, and because the seller of a luxury home is often interested in showing only to qualified buyers, many real estate agents recommend having your mortgage broker, loan officer or personal banker obtain your financing approval early on in the process.

Due Diligence

As with any real estate purchase, it is important to take the time to properly inspect a luxury home prior to purchase. In many cases, luxury homes are larger and have amenities that may require specialized home inspectors, such as:

• Pools and spas
• Fountains and ponds
• Lawn irrigation systems
• Exterior fireplaces
• Automatic screen and awning systems
• Central vacuum systems
• Heated floors/driveways
• Sophisticated security/surveillance systems
• Landscape lighting

READ MORE HERE...

http://www.investopedia.com/articles/personal-finance/022714/tips-buying-luxury-home.asp

Top 10 kitchen trends of 2014

By Freshome | for BobVila.com

Photo: Thermador Kitchens

This year is definitely the year for your kitchen! Over the past few years the trend of modernizing your kitchen to fit your lifestyle has been apparent with technology-driven appliances and innovative surfaces and materials. I traveled to Las Vegas, Nevada in February for the annual Kitchen & Bath Industry show (KBIS). Here are 10 wonderful highlights of the show and how your kitchen still rules the home.

1. Modern kitchen innovation that gives a hint of the past:

There has been a re-emergence in kitchen design to bring back old world finishes and blend them with modern innovation. Modern countertops in granite, marble and solid surfacing can take on a vintage appeal with beveled edges and details that went away with handcrafted cabinetry years ago. Kitchen faucets that resemble ‘hand-forged sentiments of early 20th century metalworkers, Artesso™kitchen faucets blend traditional design with industrial chic inspiration’ was gorgeous to see from Brizo faucets. It was also nice to see that kitchen manufacturers haven’t forgotten that historic details in the kitchen still have a place in our homes.

2. Commercial-quality kitchen amenities in your humble abode:

While we all love the comfort of quaint homes, do you sometimes prefer the industrial feel of a commercial kitchen? At KBIS, you could see a definite trend of kitchen manufacturers appealing to both aesthetics. Blanco sinks features their Quatrus R15 stainless steel sink that offers a revolutionary sleek appeal while still enabling homeowners to wash it easily. Turn your kitchen into that commercial kitchen you always wanted with amenities that show off your inner culinary chef .

3. Kitchen accessories aren’t just for show anymore:

Years ago, kitchen accessories played a minor role in function and were instead meant to compliment the sink, faucet or cabinetry of the kitchen. Today, kitchen brands are realizing that homeowners want form, function, and beauty all wrapped up into one. Accessories such as colanders and cutting boards can now fit seamlessly into the sink to help you drain or cut your favorite vegetables. There is no longer a reason to wonder, “What does that do?” in your modern kitchen.

4. Organize your kitchen drawers like never before:

Drawers are commonly used to separate items like spices and utensils. But did you know you can also use your drawers to store bread in their very own customized bread boxes? There was a big representation of brands such as Poggenpohl’s drawer accessories that included cutlery trays, spice racks, knife blocks, bread drawers and aluminum foil holders, among other things. Instead of organizing just a few items in your kitchen, organize your kitchen drawers around the way you and your family use the kitchen.

5. Lighting your kitchen in eco-friendly ways:

Just like the evolution of your home, lighting plays an integral role in ensuring your kitchen experience is safe, enjoyable, and helpful for all your kitchen activities. While traditional lighting fixtures such as pendants and under cabinet lights aren’t new – the use of eco-friendly LED lighting inside of cabinets, drawers, and below the base cabinets is proving to be more helpful to the culinary enthusiast. Whether you have your hands full and don’t have time to reach a light, or you’re looking to add more illumination to your kitchen’s darkest nooks, LED lit cabinetry and drawers may be exactly what you’re looking for.

[Click to find a contractor to help with your kitchen renovation now.]

6. Decorative tile becomes the showstopper over the appliances:

There used to be a time when you walked into a kitchen and all eyes went to the appliances. While appliances are still a major opportunity to wow guests, decorative tile is the perfect crowning glory to a dynamic kitchen. This year, tile manufacturers are holding nothing back and Walker Zanger has always been known for their innovative and iconic tile design styles. This Chelsea Art Glass backsplash is the “Epitome of glass craftsmanship, offering a collection of stunning Tiffany-inspired mosaics created from sheets of colorful, marbleized glass. The glass sheets are hand-cut and blended to create 12 unique shades”. If you’re looking for a way to add pizazz to your kitchen, look to decorative tile to add a glamorous personality to the heart of your home.

7. Saving money in the kitchen is easier than ever

While we all enjoy splurging on our home improvements, saving money on your kitchen renovation is essential. While there was an enormous representation of high-end remodeling ideas at KBIS, there was also a nice contrast of kitchen brands that understood that homeowners like to save money too. I interviewed fixture manufacturer Danze, whose high-quality kitchen faucets are designed save consumers money. They think, “…Your kitchen faucet should do more than just wash vegetables. It should nourish your eye for great design, too. We offer an appetizing array of unique kitchen faucets, bar and convenience faucets and pot fillers. With plenty of smart styles to reflect your personal taste.”

[Click to find a contractor who can help with your budget-friendly renovation.]

8. Filtered water for your family, delivered in a gorgeous way

Over the years water filtration has become more important as water becomes a more precious resource. Kitchen plumbing manufacturers are finding a way to eliminate the clunky add-on water filter on the outside of your faucet, or under your sink. Brands like ROHL’s Perrin & Rowe are using, “… Filtration featuring Triflow® Technology. This innovative faucet series provides beauty and functionality in one space-saving design. Filtration happens right in the faucet and eliminates the need for an under- the-counter system. Enjoy hot, cold and filtered water while saving money and protecting the environment’”.

9. Affordable countertop surfaces that give the look of luxury

Countertops can be a very expensive portion of your kitchen entourage. Lucky for you there are several kitchen countertop manufacturers that understand homeowners want the look of granite, stone, and marble without the hefty price tag.Formica Corporation has created the 180fx® laminate countertop surface. “A revolution in surfacing with true-to-scale granite patterns that offer visual drama unmatched by any other laminate. New sophisticated patterns focus on a neutral palette – versatile enough to pair with any interior design concept.” So don't think the kitchen remodel you want is out of reach. It may be possible thanks to these new patterns!

10. Creating connections between your lifestyle and cooking

We live in a wonderful design age where kitchen manufacturers are realizing the importance of connecting how we all live in our homes, the way we interact with our appliances, the way we prepare food, and the way appliances, fixtures, and finishes should interplay with our senses. KBIS is a wonderful example of how the best minds come together to show you what is available today and what they are working on for your future. It’s still true: The kitchen rules our homes and rightfully so. It’s the soul of our home and the way we come together with family and friends!

Biggest Home Seller Mistakes

1. Overpriced Home

Nothing shocking here. This was far and away the most common mistake sellers make that prevent them from selling their home. 

If you overprice your home there is a pretty good chance no one is going to want to buy it. Real estate agents do not set the real estate market. A great real estate agent will suggest a price at which to list your home based on comparable homes that have already sold in the market. Overpricing a home to 'see if you can get someone to bite' is not a strategy employed by someone really serious about selling. Overpricing a home will lead to missed opportunities with buyers that are serious about buying in the range at which your home should be listed.

The first week during which a home is listed will generally be the time that the most eyeballs are on the home and the largest potential pool of buyers will be exposed to the listing. Setting a price that reflects the market is essential to selling! This is exacerbated in a downward trending market. Many a seller has lost thousands, even tens of thousands of dollars chasing a market down after setting a listing price that was outside what the market was willing to bear.

Margaret Goss, a Broker with Baird & Warner on the North Side of Chicago gives you a few reasons that an agent will take your overpriced listing and then shares the repercussions of making the decision to price your home too high.

2. Showing Availability - It's Difficult to Set a Showing

The chances your home will sell when buyers can't get in to physically inspect the property are minuscule. Sellers need to understand that listing a home for sale is going to lead to some inconveniences in your normal routine. Many serious buyers may want to physically inspect a property during times which may not be convenient for the seller. Knowing this, motivated sellers need to understand that flexibility in when you allow the home to be sold could have a direct impact on the sale of your home.

It's not uncommon for sellers to see 8, 10, even 20 homes during a showing tour with their agent. If your house isn't on that list because you only do showings on Saturday and Sunday from 10am to 4pm, you will miss out on ready, willing and able buyers. 

As a seller, realize that the more people that can see the home in person, the more chance you have to find the buyer that wants your home. Eric Kodner, a broker with Madeline Island Realty in La Pointe Wisconsin shares a real life example of an unavailable seller costing herself a sale and a lot of money.

3. Cluttered Space - Unwilling to Depersonalize or Remove Clutter

Sellers are sometimes unwilling to either make the effort, or unwilling to compromise how they live in their home during the time the home is on the market for showings. Serious sellers realize that by depersonalizing the home and removing unwarranted clutter, it allows potential buyers to more easily visualize their own things in the house.

When you live in your home day in and day out, you become comfortable with your own 'things'. In many cases, however, your 'stuff' can make a room feel smaller than it actually is and in some more extreme cases, your 'stuff' can completely distract someone from visualizing the potential of a room. We know you are proud of your kids as the shrine in the living room displays all of their ribbons, trophies and diplomas from the last 20 years. But for a buyer, this is only a distraction. 

Many agents will make recommendations about ways to remove clutter or depersonalize your home. Some will even suggest that a professional homestager be brought it to completely maximize the space and create a setting maximizes the buyers ability to visualize their own things. The key thing to remember here is these suggestions are not personal and you may have to be a little uncomfortable so that your house puts it's best foot forward.

Ralph Gorgoglione, a real estate agent with the John Aaroe Group in Los Angeles reminds us that "as a seller, the most important thing to realize is that, yes, your crapola means a lot to you. But it means nothing to anyone else." Especially a buyer trying to visualize their own stuff in your house.
 

4. Unpleasant Odors in the House

"Mr and Mrs. Seller, your house stinks!"

Most agents aren't going to be this blunt. But in some cases they wish they could be. They'll take a more tactical approach and say something like.....'during the time your house is on the market, it might be a good idea to smoke outside'.

But what they know is that nothing will stop a potential buyer in their tracks faster than a strong odor of any sort. In some cases this could just be the left over smell from last nights dinner. In more extreme cases, agents tell horror stories of entering homes that have a bad smell of pet urine or smoking. 

The main concern for the buyer is, of course, "is the house going to smell like this once we move in?" Real Estate agents confirm that many a buyer has passed on a home after coming to their own conclusion on that answer. 

Your agent isn't suggesting a fresh coat of paint and new carpet because they don't like how things look. They are making this suggestion because they realize that the smoke odor in your home is going to be a major turn off for anyone thinking about buying your home.

Real estate broker Dick Greenburg with Elevations Real Estate, LLC in Fort Collins Colorado even goes so far as to suggest "homes with bad odors don't sell because buyers are having intense and complex negative reactions that are beyond working around."

5. Seller Unwilling to Make Repairs Prior to Listing

No seller wants to spend a few thousand dollars making repairs to a house you are about to sell. Agents understand that. But they also understand that few buyers want to move in to a house that needs a bunch of work done immediately upon moving in. 

One of your objectives to selling your home is to make it as appealing as possible to as wide of an audience as possible. If the seller is unwilling to make repairs, and a buyer doesn't want a bunch of work upon moving in, you've shrunk the pool of potential buyers for your property.

Some sellers may want to offer the buyer a credit at closing for certain repairs. Real estate broker Chris Ann Cleland, with Long and Foster in Gainesville, VA shares with us why that strategy isn't better thanmaking the repairs yourself before putting the home on the market.
 

6. Sellers Unwilling to Negotiate with Buyers

Setting a market price on a home is not an exact science. Many real estate agents will give the seller a range in which they predict the home will sell. As a seller, you should always want the most money the market will bear. That being said, the unwillingness to negotiate with buyers can turn away even the most serious buyers.

Price is not the only condition which is open to negotiation. Buyers and sellers can negotiate on dates, fixtures that might stay with the home, repairs and a host of other sticking points. Sellers that refuse to negotiate and are set on digging in their heels are much less likely to find a willing and able buyer.

Don't be insulted by low offers. Buyers want to get the home for the best price and on the best terms they can. Just like a sellers wants to sell for the best price on the best terms. It's rare that either party walks away from a negotiation with everything they want. Motivated sellers understand this and are willing to negotiate.

Debbie Reynolds, a broker with Prudential PenFed Realty in Clarksville Tennessee, cautions sellers against being unwilling to negotiate as well as second guessing your original listing price.

7. Bad Photos in the MLS

This one will most likely fall on your real estate agent. But knowing that bad photos in the MLS can be an impediment to the sale of your home, as a seller it's imperative that you demand great photography from your agent.

Studies show that greater than 85% of people are going online as a part of their research for buying a home. Most buyers will probably first be introduced to your home online. Poor photos could be cause for them to disregard your home before they ever set foot in it. 

The photos used to market your home are generally the first impression any buyer will have of your home. When picking an agent to list your home, ask to see examples of photos from previous listings. Do their photos make you want to take a look at the home?

Never let your home go on the market without photos! If it means waiting a day or two before listing, wait. A large number of potential buyers in your market will be exposed to your home the first day it goes on the market. Having great photos the first day the home hits the market is a must.

Tammie White, a REALTOR® with Benchmark Realty LLC in Franklin Tennessee tells us why "it is crucial to have professional photographs to show off your home."

8. The Home is Just Plain Messy

You were late for work this morning so you ran out of the house without picking up from last night's dinner. Not a big deal.....unless you have potential buyers that will be stopping by. 

Some people may be able to look past the dishes stacked up in the sink, but enough buyers won't be able to look past the mess. Remember, buyers want to envision their things in your house. The more obstacles you put in the way, the harder time they have connecting with the home emotionally.

Take the time every day to make sure everything is cleaned up and the home is in showing condition. 

Woody Edwards, a REALTOR® with First Choice Realty in Chesterfield Virginia is reminded of an old saying his grandmother used to have, "never leave home until the home is in dying condition". This couldn't be more true than when selling your home.

9. Sellers Who Like to Play Tour Guide During Showings

Almost every real estate agent who participated agreed that sellers should leave the house during showings. Some sellers want to stick around and make sure buyers see all the important features of a home. The problem with that.........as a seller you don't know what's important to a buyer. 

Sellers that hover around during a showing will make the buyer nervous. They won't feel comfortable discussing things they like or dislike about the house with their agent. In addition, most buyers like to explore a little bit. Interested buyers tend to do things like open cabinets and check in closets to get a better sense for the entire home. A hovering seller can make this very uncomfortable for some buyers.

Bottom line......leave the house when it's being shown. Your presence there will only make things worse. Karen Feltman, a real estate agent with Skogman Realty in Cedar Rapids Iowa gives you a couple ofspecific ways that a seller's meddling during showings can hurt or kill a deal.

10. Picking the Wrong Agent

You decided to list with your aunt or with your friend that just got in the business. You paid no attention to their experience or what they do to market a home. Maybe not the best idea. 

Real Estate agents will often suggest interviewing more than one agent. You'll never know if your aunt is going to do a good job of marketing your home for sale if you have nothing to which to compare her. 

Don't be scared to ask a real estate agent questions about why they are a better choice than anyone else you may be considering. Just like with any profession, there are good real estate agents and there are bad real estate agents. Anita Clark, a REALTOR® with Coldwell Banker in Warner Robins Georgia shares a great list of potential questions you will definitely want to ask before you pick an agent.