An option often overlooked by those desiring homeownership is purchasing a condominium or condo. But, the traditional detached single family home is not the ideal situation for everyone. For those just starting out, affordability may be an issue.  An empty nester may want to downsize and not have the hassles of yard work and other maintenance.  Or it can simply be that the traditional family home doesn’t suit your lifestyle. 

When you own a condo, you own the title to the space within the walls of your living quarters.  Common areas such as hallways, roofs, parking lots, green areas and pools are shared with the other owners in the complex.  The more common type of condo is the apartment-style, in which you may have units on either side of you and above and/or below.  However, there are other styles.  There are units that are designed more like townhomes, with single or multiple levels and one or two common walls with neighbors.  You may even find a condo in a building that was a multi-unit apartment converted to condo units. 

Condos are attractive to many buyers because they offer them a chance to own their residence and build equity at what is usually a lower cost than a single-family detached home.  Of course there are exceptions, such as the luxurious condominiums that many developers are building in downtown and affluent neighborhoods.

One factor to consider is that condominum owners generally must pay a condo association fee monthly. These fees defray the cost of maintenance, repairs and upgrades to the community’s common areas as well as the cost for the services of a property management company.

However, if you would rather spend your free time doing something besides mowing the lawn, painting the outside of your home, or waiting at home for the pool maintenance person, then a condo may be for you. 

Other advantages of owning a condo are the amenities that may be part of your complex such as a pool, tennis courts, fitness center or clubhouse.  These are some of the perks you might not be able to afford or even have room for if you were to purchase a single-family home.

Of course, as with all things, there are some disadvantages to owning a condominium, such as the lack of privacy that a single-family detached home affords.  You are also confined to the rules and laws of the community association, which can run the gamut from how to display a satellite dish to the type of animals you can keep.

Is a condo the right living arrangement for you?  Make an informed decision by weighing the pros and cons.  Talk with a real estate professional who is familiar with condominiums and the laws that govern them.  Preview the various condos in your area to get an idea of how the properties are run.  If your real estate professional has sold condos in any of these complexes, find out the type of feedback he or she has received from clients. 

Condo living isn’t for everyone, but can be an attractive option for those who want to own instead of rent.

The old saying about making a good first impression couldn’t be truer than when you are selling your home. That first impression has to create interest from the moment a buyer drives up to your home. Curb appeal is that subjective, intangible quality that entices buyers to think emotionally rather than logically. Perhaps it’s the way the home sits on the property, or the mix of clapboard and fieldstone. It may be the expanse of grass carpeting, the stately columns, or the boisterous symphony of greenery and brilliantly colored flowers. In any case, it’s love at first sight.
            How can you tell where your home registers on the curb appeal scale? One way to find out is to take pictures of your property from various angles. Show them to friends, family, colleagues, anyone known for providing painfully objective feedback. Find out what’s appealing about the home and grounds, and what needs improvement. Take the photos to a nursery for a professional landscaper’s opinion. Even more important, consult your real estate professional. A local real estate professional has experience selling homes in your area and can be a great resource. Ask the agent to walk around the property with you and view it from across the street. Develop a “to do” list to bring your home up to show condition, then brainstorm easy, cost-effective solutions.
Surprisingly, even small enhancements can make a big difference. Building on your home’s curb appeal might be as easy as replacing a broken screen and planting a few flowers near the front door.
            Here are some ideas to get you going.
            Paint and polish. A fresh coat of paint breathes new life into a tired-looking home. If your home looks dull or suffers from peeling, cracked or chipped surfaces, a paint job is a great investment. Many real estate professionals suggest using neutral colors such as white or gray. Whether or not you paint, you’ll want to polish the doorknocker and mail slot on the front door, as well as any light fixtures by the entry.
Go over the grounds. Mow and edge the grass, and trim the trees and bushes. Also, clear away dead leaves and flowers, and mulch and weed the beds. Check to see that tree branches are not touching the home’s roof or outer walls. You can spruce up the property by hanging flowering baskets and placing planters of flowers in strategic spots. Don’t forget the side and back yards. Add some flowering plants to the back as well. 
            Make needed repairs. See if anything is unhinged, loose or just an eyesore. Fix everything including broken fencing, windows and screens. Try the doorbell. Check stairs and railings. Test doors for squeaks and rusted hinges. Don’t forget to take a critical look at the property at night. Make sure the lights work, and replace dim and burned-out bulbs.
Unclutter. Tidy up the deck, patio and back yard. Rearrange the outdoor furniture to look inviting.  Put away gardening tools. Clean up the barbecue area. Eliminate any “evidence” of Fido, and restrict him to the back yard when showing the home. Move extra vehicles from the view of passersby.
            Clean. You want buyers to think the home has been well maintained. To make a bright impression, clean the windows, inside and out, wash down the walks and driveway, and hose down the siding. Clean outdoor furniture and cushions. Check for oil spots on cement surfaces, especially the garage floor.
Remember, a sale can be made or lost as a direct result of your home’s curb appeal. Exert a little elbow grease now and you’ll captivate buyers at the curb. It’s a sure way to a quicker sale. 

Pricing matters. When you decide to sell your home, one of the most important decisions you’ll make is your initial listing price. Of course, you want to get as much for your home as buyers may be willing to pay. However, when determining the price, don’t make the mistake of overpricing.  It’s an understandable mistake, but one that could prove costly if it slows down the sale and/or makes other homes look like a good value by comparison. One trap many sellers fall into when deciding a price is basing it on emotion. After all, your home has been special to you and your family. You’ve perhaps made changes and improvements over the years. But you need to ask yourself: how important are those changes to a potential buyer? How up-to-date are the improvements? It is easy to think your home is worth more than your neighbor’s or more than the current market may support. But, if you overprice your home, you may attract the wrong buyers—buyers who will compare your home to other homes within the same price range and walk away disappointed. Some of those other homes may have more amenities or be in better condition. At the same time, you may eliminate a pool of potential buyers who are shopping for homes priced in the range of your home’s true market value.
Another challenge you face with overpricing is less initial traffic and diminished interest. Generally, a home receives the most activity during the first weeks its on the market. If your home is priced more than similar homes in your market, it may discourage potential buyers who believe they can get a better value somewhere else. In addition, real estate professionals tend to not guide qualified buyers to overpriced properties. And, the longer your home stays on the market, the more buyers may begin to reason that there is something wrong with the property.
If you overprice your home with a thought of using a “price high then drop” strategy, you run into the same risk of buyers believing that something is wrong with the property–or that you are desperate to sell. Eventually the property may sell, but at how much of a loss–especially if you have purchased another residence and now have to cover two mortgages and pay ongoing expenses? Overpricing can also result in fewer offers. For various reasons, buyers may feel uncomfortable submitting a low bid when there’s a considerable difference between the market value and selling price. And, if you were to accept a bid at an inflated price, your buyer may face financing problems, because an overpriced house will not appraise for the selling price. What can you do to ensure you’re not overpricing your home? Stick to the facts. You may want to hire a real estate appraiser for an objective unbiased estimate. Then consult with a real estate professional who can help you determine true market value based on a comparable market analysis. The key is to work with your real estate professional to price right and create a strategic marketing plan that creates excitement from the moment your home debuts on the market. Don’t let the temptation to overprice keep you from your best chance of getting the best price, quickly.

if you are interested in sharing your thoughts about birch bay, please feel free to email us your comments.

blog@callhugh.com.

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Although we traditionally think of spring as the season for home maintenance, there are steps you should take in the fall to make sure that your home is ready for the winter months. By performing these common maintenance tips each autumn, you can help protect your home’s value and prevent major repairs.

 Roof and Gutters
Rain, ice, snow and wind can all cause damage to your roof and gutters. Now’s the time to trim back all tree limbs and vegetation away from the roof.  You also should remove debris, such as leaves and sticks from your gutters and downspouts. Clogged gutters don’t allow water to properly drain away from the home, which can cause seepage in your ceilings and walls. You can also invest in gutter guards, a screen that prevents debris from entering the gutter and directs the flow of water away from the house and into the ground.

Water Heater
You don’t want to find out that your water heater isn’t operating properly when you need it most. So use this time to perform an annual inspection, which includes having your tank’s pressure and temperature relief valve checked. In addition, remove sediment from the bottom of the tank by draining two gallons of water to improve heat transfer and the efficiency of your heater.

Heating and Cooling System
If you have a forced warm-air heating system, you should check the exhaust vent and air shutter openings for dirt and dust. Clean any lint and dirt from the blower blades, motor and burner (if you have a gas heater). Vacuum air passages and check and replace, if necessary, fan belts. To prevent airborne dirt from circulating throughout your home, wash out your reusable filter or replace it if it disposable.

Doors and Windows
To help control heating costs, you want to make sure that your doors and windows are properly sealed.  Now is the time to repair or replace weatherstripping around door bottoms and jambs and window frames. Check for loose or missing glazing putty and caulking for deterioration.  If you have storm windows, install them.

Water Pipes
Frozen or burst pipes can cause major damage to your home and be expensive to remedy. Before frigid weather hits, protect your pipes in unheated areas from freezing by adding insulation, which reduces heat loss from hot-water pipes and condensation on cold water pipes. This can be accomplished by wrapping the pipes with heating tape or blanket insulation and duct tape or by encasing the pipes with preformed plastic foam. In addition, examine your pipes for cracks and leaks.

Fireplace
Before you light the logs and get ready to settle in front of a cozy fire, make sure that your fireplace is in good working order. Clean the chimney flue and if needed inspected and repaired. Check the seal on your flue, which is designed to keep out drafts. Replace the seal if it is loose or damaged.

If you decide to do the fall maintenance yourself disconnect the power for any electrical or gas systems.  In addition, before inspecting, cleaning or making any repairs refer to your owner’s manual for all equipment for proper instructions, which should be the final authority on any maintenance.

Although this list is merely a guide, it can help you keep your home in good shape and have a winter free of major repairs.

Photos of Birch Bay area on week of November 27th 2006. Birch Bay Village can be seen in the distance on second photo.

market stat for november 2006 in Whatcom County real estate closing reports.

November Real Estate market stat