Author: Mel Foster Co.

Preparing To Put Your Home On The Market

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You want your home in primo condition when you’re ready to put it on the market. But what exactly does primo condition mean? Mel Foster Co. agents recommend the completion of a few key projects and a couple small investments to whip your home into shape so it’s ready to impress buyers.

Focus on Curb Appeal

First impressions matter to house hunters and you only get one chance to make that impression. You’ll often get the best return on your investment when spending money on improvements to the outside of the house. Buy the new garage door or update the front entrance door and add a fresh door mat. Keep the landscape tidy and free of debris and ensure the walkway to your home is clear. Consider covering your old 1980’s brick exterior with the popular stone veneer product that provides a modern touch.

Declutter and Donate

Buyers want to envision their belongings in your space when they visit. Make the space you do have feel open by removing extra clutter and taking down your family photos. While some owners move items to a separate storage unit to free up space, now may be the perfect time to donate your excess to your favorite non-profit organization instead. Don’t forget the garage when straightening things up, since most buyers evaluate the home’s value based on their impression of the garage condition and space. Organize closets as best you can because buyers will look behind the doors to see how many pairs of shoes will fit there.

Clean and Paint

Make time to power wash your home and clean the windows. Borrow the power washer from a neighbor or rent one from your local hardware store. Buyers don’t want to see old spider webs hanging from the light fixtures or moss growing on your soffit or shingles. Clear the entrance of dirt and grime. Touch up any nicks in the drywall and paint walls in high-traffic areas inside, like the main hallways and bathrooms, so things look and feel fresh. Address any areas where stale odors or stains are noticeable in your carpets or rugs. It may be time to hire a carpet cleaner to do a deep clean.

When you’re ready to list your home, contact a Mel Foster Co. agent to get started.

Mel Foster Co. Website Recognized for Excellence

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Mel Foster Co.  has been awarded the Website Quality Certification (WQC) from Leading Real Estate Companies of the World®, a global community of 565 high quality independent real estate firms in over 70 countries. The certification was presented in recognition of excellence in website design, content and functionality.

Mel Foster Co.’s website, melfosterco.com, received high marks in a variety of critical areas relating to website performance, including usability, design, content, interactivity, customer service and mobile responsiveness. The evaluation was conducted by Virtual Results, LLC, a real estate internet and social marketing firm selected by Leading Real Estate Companies of the World® to review the websites of participating members.

The specific measurements for the WQC are updated each year to reflect the most current online marketing strategies, as well as evolving consumer preferences. Companies must be re-certified every two years to maintain the certification.

“The 120 companies that earned the WQC this year provide consumers with valuable resources through websites that are well-designed and offer relevant local content, as well as the most current information on homes in their local markets and around the world. We are pleased to recognize these firms for delivering a superior online experience,” said Leading Real Estate Companies of the World® President/CEO Paul Boomsma.

“We know local consumers have a choice when searching for a buying or listing agent.  We want to continue to offer the best tools in the market to be the top resource for buyers and sellers and to help our agents stay competitive.  Mel Foster Co. feels it is essential to invest heavily in digital marketing platforms and we are pleased that our efforts have been recognized with this international award,” said Lynsey Engels, President Real Estate Brokerage of Mel Foster Co.

Mel Foster Co. is the Quad Cities and surrounding areas representative of LeadingRE (www.LeadingRE.com). With a global membership that spans six continents, LeadingRE connects more than 565 firms and 130,000 sales associates who produce over 1.1 million real estate transactions each year. As a member of LeadingRE, Mel Foster Co. provides a quality real estate experience, global marketing reach and access to top real estate professionals in virtually any market worldwide.

For more information about Mel Foster Co., please visit www.melfosterco.com.

Insurance Coverage During Transition

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Insurance coverage is especially important when moving from one residence to another but often gets excluded from the list of priorities. Gaps in coverage can arise during the transition between residences with both personal property and personal liability. Consider a few scenarios that may arise during the move and how having the right policies in place can help to alleviate coverage gaps.

Personal Property Coverage

During a cross-country move, several days can pass between leaving the old house and moving into the new one. One way to maintain coverage on personal property during this transition is to keep the homeowners policy on the old home in force until the coverage starts on the new home, even if you have sold your old home. Most insurance policies have a standard coverage concerning personal property within the residence, but separate exceptions for property outside the residence, like when in a storage facility or on the moving truck. Be sure to consult your Mel Foster Insurance producer to clarify your terms before you begin the move.

Personal Liability Coverage

Unlike a policy that covers the physical property during the move, personal liability provides coverage for bodily injury and property damage sustained by others for which you or covered residents of your household are legally responsible. Personal liability insurance can begin on the move date and would then apply during the trip and transition. Some restrictions apply with policy coverage and limitations on value are often implemented by insurance companies. Read the fine print and have all the facts before issues arise during the transition.

Insurance Tips

Do not cancel the current insurance based on instructions from third parties like the mortgagee, title company or closing attorney. As with any insurance, the agency should never make a change to add, delete or change policies without explicit instructions from you. It’s always best to handle any wanted changes or clarifications yourself.

A majority of losses from fire, theft or windstorm are covered under the basic personal property insurance policy. If the moving truck overturns, most authorities would apply damage to personal property as the result of the vehicle hazard.

Some potential causes of loss are unique to moving, such as breakage, scratching or lost items. The homeowner may be advised to purchase protection from the moving company directly in some instances.

Schedule an appointment with Mel Foster Insurance to verify proper insurance coverage for your upcoming move.

Thinking Minimalistic In 2020

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The beginning of a new year is often when we consider making changes to our lifestyle. Maybe we want to exercise more and eat less, visit somewhere new or spend more time at home. Consider a few creative ideas from Joshua Fields Millburn and The Minimalist Rulebook when planning to simplify your life and your belongings.

A Purging Challenge

Think less is more. Choose a friend who wants to minimize with you and select the organization where you’ll donate. Start the purging challenge on the first day of a month, with a goal of ridding yourself of the most items by the end of the month. Each person removes one thing on day one, two things on day two, three things on day three, and so on. Obviously, the challenge becomes harder when faced with donating items in the double digits in one day. The friend who gets through the most days wins, but both will feel successful in passing along their excess to someone in need.

Photo Scanning Party

Wondering what to do with your old photos stacked inside your desk drawer? Consider planning a photo scanning party. Find a high-quality scanner that rapidly feeds and scans photos and then immediately saves them to a memory card and/or online. Gather your favorite friends, some snacks and cocktails, and make an evening of making your memories digital! Once the photos are scanned, they can easily be enjoyed in a digital picture frame or made into a bound photo album. Securing the photos digitally also offers peace of mind in the unfortunate event of house damage by fire or flood.

Wait For It

If online shopping from your couch is your downfall, this challenge could help save you money and help simplify your life! Take pause before you purchase something non-essential. When considering buying an item that costs more than $30, ask if you can get by without it for the next 30 hours. Choosing to wait this extra time helps determine how necessary the item is and if it will add value to your life. The pause often results in a pass on the purchase. If you do decide to buy the item though, you are satisfied that it was acquired with intention and not just as an impulse buy. Some even consider waiting 30 days to decide on making purchases over $100. So, just wait for it and see what results you’ll achieve.

Organize your personal documents at home by using an inventory checklist recommended by Mel Foster Insurance.

 

Mel Foster Co. Announces 2019 Achievements

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Despite low inventory across the country and locally, Mel Foster Co. President Lynsey Engels said Thursday that 2019 was a very productive year for the company. Engels joins other real estate experts in forecasting home sales across the region will hold steady in 2020.

The company’s year-end results were released collectively by Lynsey Engels, company president of real estate brokerage, Marc Engels, president of Mel Foster Insurance, and Rob Fick, president and CEO. The annual release of performance stats also recognized the achievements of 115 agents who received awards for 2019.

Mel Foster Insurance continues to be a trusted insurance agency in the Quad Cities region with exceptional client retention rates and the continued growth of new personal/business client relationships.  In 2019, Mel Foster Insurance associates added 775 new clients along with tallying 1939 new lines of coverage. The insurance division increased both total premiums written, up 8 percent, and policy count, up 3.8 percent from 2019.  Mr. Engels said, “We are pleased to have a 96.3% client retention rate agency-wide, which is a confirmation that we continue to provide a personalized insurance experience that our clients value. Our entire team collaborates and focuses on providing first class service to our personal and business insurance clients.”   Mel Foster Insurance made a large investment and converted to a 100 percent digital agency in 2nd quarter of 2019.  Engels stated, “This technological advancement is a game changer in the market and will allow us to work even more efficiently, improve customer service, and build even stronger relationships with our clients.”

Mel Foster Commercial Real Estate, led by Thad DenHartog, sold over $62 million in commercial real estate properties earning over 35% of the market share in 2019. The division employs eight commercial brokers and two staff members. Two of the company’s commercial brokers ranked in the top 10 in the Quad Cities Commercial MLS. “Our commercial division continues to be a leader in the Quad City market, and we are quite proud of their ongoing accomplishments,” commented Ms. Engels.

Across their nine residential locations within Mel Foster Co. serving Eastern Iowa and Western Illinois, the average sales price across the entire company was $178,238 compared to $170,676 in 2018, representing a 6.5% increase in value while the number of closed transactions stayed flat in 2019.  On average, Mel Foster Co.’s agents closed 14 transactions in 2019 as compared to the national average of 11 according to statistics from the National Association of Realtors.  Average days on the market for their Quad Cities market remained steady at 49 days. Their Galesburg location closed over 45 percent of the transactions in their area and their Kewanee office remained dominate handling over 50 percent of the business in their MLS.  The company had a combined 13 agents who were in the top 10 of their respective MLS.

In 2019, Mel Foster Co. sold 61 lots in six subdivisions. Mel Foster Co. is the largest land developer in the Quad Cities and continues to expand its existing subdivisions. In 2020, tentative plans include opening up to 83 new residential lots. Mel Foster Co. residential agents sold 130 new construction homes or condos in 2019. The average Mel Foster Co. new construction sales price was $377,731, down from $417,200 last year.

The company added 16 new or transferring agents and two new staff and now employs 39 brokerage staff, 42 people in the insurance division and has 204 residential agents and eight commercial agents. At the annual awards event, Mel Foster Co. recognized five retirements and honored 43 agents and staff for their service years with the company. Across all Mel Foster Co. divisions, the average number of years of service among staff is 12.5 years. This average is three times the national average as reported by the Bureau of Labor Statistics in January of 2018.

Looking ahead, Ms. Engels said several economic indicators are continuing to point in a positive direction again in 2020. “Our economy is experiencing low unemployment rates and there is the potential of higher wages to be set in 2020. Experts predict today’s low interest rates are expected to continue into 2020, which will fuel price gains and increase buyer confidence in 2020.”

In closing, Fick commented about some of the company’s greatest achievements in 2019. “While we celebrate our sales success, it’s important to celebrate the work we do in giving back to the communities we serve. Mel Foster Co. has a long tradition of supporting causes and we are so proud of the staff and agents for volunteering and donating to the causes they are passionate about. A few examples of our agents and staff making a difference include: participating in local food, book and blood drives, donating and collecting school supplies, toys and shoes for area children, and purchasing Christmas gifts for families and seniors in need. Agents and staff stepped up during the floods, made Valentine cards and blankets for local nursing home residents, and donated financially to over 25 local organizations and charities. We promoted a successful social media campaign ‘Think. Buy. Be. Local.’ to encourage people to visit local businesses. This is our community and we are proud of the role we play.”


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