Tag: Mel Foster real estate

Add A Little Bling To Your Kitchen

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A $40,000 kitchen makeover is out of your reach, but there are small things you can do to update your kitchen and give it that fresh, new look.

Replace your pulls and knobs. It’s like jewelry for your cabinets. You can get something whimsical and fun or go with something traditional to change the style of your entire kitchen. Count up how many pulls and knobs you’ll need and hit the home improvement store. If you can’t decide which style you like best, buy a few and see how they look with your cabinets. If you are adding hardware to cabinets without pulls or knobs, purchase a drilling template for a few dollars to make sure you position the hardware in the right spot.

Paint your cabinets. This might be a job better left to the professionals if you have lots of cabinets. All cabinet fronts will need to be removed, sanded, and painted with several coats of paint. Accounting for drying time, this project may take several weekends. The work can be tedious and a professional may be the right answer. It’s still an inexpensive way to update your kitchen, as cabinetry is typically a major expense in a renovation project.

Change your light fixtures. Colorful pendants or a craftsman style chandelier can change the personality of your entire kitchen. You can pick a single style and get matching light fixtures or go for a more eclectic feel by picking what you like and mixing and matching. Be sure to shut off the power at your electrical panel before you install new light fixtures. If you don’t know where your electrical panel is, or have no clue what that means, call an electrician or a friend with the right experience.

Paint the walls. It’s cheap and almost everybody can paint successfully. Consider a paint specially formulated for kitchens and baths. They are often easier to clean and can withstand grease and grime that can accumulate around the stove. Take the time to wash the walls first and tape the edges of your cabinets to avoid mistakes. A good paint job starts with good preparation.

Get new window treatments. Curtains, blinds and shades all work well in a kitchen. If your kitchen opens to a family room or dining room, replace all of the window treatments to create a cohesive look among the connecting rooms.

If you need to start your kitchen renovation small, remove all the clutter from your refrigerator and invest in a good degreaser for your stove. These easy and cheap steps might inspire you to tackle more in your kitchen. If you have a little money and time, consider installing a tile backsplash, replacing your faucet or selecting a new countertop. These are not first time DIY projects and you’ll want to call in reinforcements.

Wanted: Your Home

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Now is an ideal time to list your home for sale because there are many buyers, but not enough homes for sale. This means you can get a higher selling price now that the market is in the seller’s favor.

Interest rates are still low which encourages homeowners to move. More competition is always good for sellers who may be in a position to review multiple offers. Sometimes a bidding war can break out, driving the final sales price up higher than the listing price.

According to James D. Shilling from DePaul University’s Institute for Housing Studies, the seller’s market is driving home prices up higher. This helps homeowners with negative or low equity to make more money from a sale and eases the burden of being upside down on their home. This gives the seller a chance to enter the market as a buyer when interest rates are near record lows.

Shilling predicts rates will stay low through 2013 and most likely into 2014. But the interest rates won’t stay low forever. When rates do rise, homeowners won’t want to sell their homes and lock into a new, higher interest rate. This shift means fewer buyers and lower offer prices for your home.

It’s a sweet time to be a seller. Contact a Mel Foster Co. agent about listing your home and take advantage of the market conditions.

Relocation Directors Council®

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Lynsey Engels, President of the Real Estate Brokerage Division at Mel Foster Co. Inc., is pleased to announce that their Director of Residential & Corporate Relocation, Deb Boland, attended the Relocation Directors Council®  (RCD)’s annual Spring Event.

This year’s conference theme was “In Charge of Change Defining Our Future” and held in San Diego, California in May.

Over 120 relocation professionals from across the country gathered to participate in continued educational training, as well as networking with top industry leaders.  Panelists from Relocation Management Companies and RDC’s Advisory Councils addressed today’s topics pertinent to those who manage mobility, domestically and globally.

Five Tips For First Time Buyers

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Say goodbye to throwing away rent money every month and hello to owning your own home. It’s an exciting time in your life and following a few simple tips can make it a rewarding experience.

1. Know what you can afford.

Gather one year’s worth of your household expenses. Include credit card payments, loans, auto insurance, groceries, utilities and entertainment expenses for each month. All money that goes out each month needs to be tracked, even that $4 coffee once a week. Figure your monthly take home pay, minus the list of expenses, and that gives you a ballpark figure of what you can afford to spend. But remember, this includes your monthly mortgage, taxes, insurance and maintenance. Be sure to leave a cushion for emergencies.

2. Get pre-approved.

This step includes having lenders scrutinize your credit history and score, so make sure your credit history is accurate before this step. Read our blog, How To Prepare For Pre-qualification, for help in getting ready for this step. (include hyperlink to Dec 11 blog article, http://www.melfosterco.com/blog-detail.html?id=8)

3. Make a want vs. need list.

Set realistic priorities and make clear distinction between what you really need versus what you want. Your need list includes things you cannot live without and will be different for each person. Commute time and number of bedrooms usually fall into the need category. Stainless appliances could be added in the future, so they fall into the want category.

4. Scope out the hood.

Gather information about taxes, schools and crime rates from the neighborhoods you are considering. Take a drive through the neighborhood at night and ask yourself, “Would I feel comfortable walking alone at night in this neighborhood?” If you see neighbors outside during one of your drive bys, stop and ask about the area. Find out if there is a dog that barks all day, a loud motorcycle that starts at 5 am or neighbors who like to have loud parties well into the night.

5. Find a trustworthy home inspector.

It’s wise to always have a home inspection before you buy. There could be dangers hidden behind walls, even in new construction. It’s always better to know about potentially costly repairs before you buy a property. You can also use that the home inspector finds as leverage when submitting an offer. Sellers are often willing to fix issues before you move in as part of the sales agreement.

What’s hiding behind those walls?

Mel Foster Co. Color the Quads Ready for Saturday

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The first annual Color the Quads is Saturday, June 1, starting with the Kid’s race at 9am and the 5K at 4pm in Cumberland Square at 2300 Spruce Hills Drive, Bettendorf, Iowa.  All 5K race participants are invited to attend the colorful Tri-City Electric after-party where the fun continues after the race.
Packet pickup is Thursday, May 30 at 5pm-8pm, Friday, May 31 from Noon-5pm and Saturday, June 1 at 11am-1pm at the Color the Quads Headquarters located in Cumberland Square at 2304 Spruce Hills Drive, Bettendorf, Iowa.
The 5K race course starts on 18th Street in Bettendorf and follows this path:  head north towards Bettendorf High School, turn east on Tanglefoot Lane to Devils Glen Road, turn south on Devils Glen Road to Maplecrest Road, turn west on Maplecrest Road to Victoria, turn south on Victoria to Tech Drive, turn west on Tech Drive to 18th Street, turn south on 18th Street to the finish line!  Spectators are welcome along the race course to cheer on the participants as they get blasted with bursts of color powder on the course.

The Pitfalls Of For Sale By Owner

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Selling a house sounds easy. Take some pictures, get them on a for sale by owner website and watch the offers come in. The reality is, your home may sit on the market longer and you may price it below market value. These mistakes could cost you thousands of dollars.

Get an agent on your side when you decide to list your house. Agents and FSBO companies have different motivations. Your agent is working hard to sell your home for you and is only compensated once your home is sold. An FSBO website makes money when your home doesn’t sell and you pay for another month of listing.

Only your agent can help you determine a fair selling price based on comparable listings and sales in your neighborhood. This competitive market analysis can give you a realistic sales price. A home that is priced right will sell quickly in most situations. An FSBO site won’t offer specific information to determine how to price your home.

With an FSBO listing, you are responsible for scheduling and facilitating the open houses. It can be frustrating to watch potential buyers enter, then exit, your home in less than five minutes. They won’t stick around long enough to tell you honestly what’s keeping them from choosing your house. But an agent knows how to engage potential buyers in a meaningful dialogue that can reveal buyer concerns that might be keeping your home from selling.

Your agent also has the necessary paperwork for a buyer to make an offer. Selling you house is a transaction of many thousands of dollars. This is not the time to play agent and lawyer for yourself. Be smart when you list your home and use an agent.

Mel Foster Co. Names New President of Brokerage Division

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Mel Foster Co. is pleased to announce Lynsey Engels has been named the President of the Real Estate Brokerage Division effective May 1, 2013.
As president, Engels will oversee the company’s ten real estate offices and the relocation division.  She will also be involved in mergers and acquisitions, training, and agent recruiting and retention.
During the last six months, Engels has transitioned from her position as an agent to assume general manager responsibilities.  As an agent, her efforts led to numerous multi-million dollar producer status recognitions in Mel Foster Co.’s Executive Club and Chairman’s Club.  Engels spent 10 years in residential real estate with eight of those working as a team with her sister, Kristi McFate.  A licensed broker in Iowa and Illinois, Engels specialized in new construction and relocation services and was adept at working with first-time home buyers.
Engels is a member of the National Association of REALTORS®, the Iowa Association of REALTORS®, the Illinois Association of REALTORS®, and the Quad City Area REALTOR® Association, where she currently serves on the organization’s board of directors.  She is a member of the Quad City Chamber of Commerce and has served in various leaderhship roles for Junior League of the Quad Cities.  She has been a volunteer for Make a Wish, Junior Achievement, and high school-aged volleyball teams and was named a Leader Under 40 in 2007.  Engels graduated from Purdue University where she was an academic All Big Ten athlete and captain of the tennis team.
Rob Fick, Chairman and CEO of Mel Foster Co., Inc., proudly announced, ‘I am confident Lynsey’s expertise and enthusiasm will enhance our strategic vision to provide more valuable leadership experience to our managers, agents and staff.  Her attention to detail and passion for success will continue to raise the standard of excellence and leadership in our company.”
Engels and her husband, Marc, reside in Bettendorf and have three daughters.

10 Ways To Sell Your Home Fast

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You need a fast sale for the maximum profit. Do these 10 easy things to make your home move quickly.

1. Let go of your emotions and accept that your home is now a house that you want to sell quickly at a profit.

2. Pack up your family photos, knickknacks and books. You want buyers to see clean shelves and surfaces where they can imagine their items.

3. Organize your closets and cabinets. Buyers are going to snoop.

4. Remove any extra furniture that makes your home look like it’s small.

5. Scrub your house from top to bottom. This includes the outside and those areas you can’t easily reach.

6. Shampoo your carpet and area rugs. Pet odors and smoke are a turn off to potential buyers.

7. Make minor repairs. Turn every knob, open every window and cabinet. Tighten anything that’s loose, patch holes and replace any broken tiles or glass.

8. Give your catch all room a purpose. Your spare room/office/craft room/playroom needs to serve a single purpose when buyers come through.

9. Make your home look inviting from the curb. Keep landscaping in top condition. Check that curtains are even from a curbside view. Remember that a buyer can drive by at any moment.

10. Keep up with the cleaning and clutter daily. Doing a quick pick up or clean up of the house every night before bed means your house is always ready for a showing.

What’s hiding behind those walls?

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A well-staged house might be hiding a dirty little secret. Black mold. Fire damage. Shoddy home improvements. Pet stains below the carpet. You can’t always tell the true condition of a home just by walking through, but it’s hard to hide damage from a home inspector.

If you are buying a home, getting a home inspection is one of the single-most important “checks” you need to conduct to make sure the home is safe and secure. An inspection can be several hundred dollars, but uncovering what lies within before you own the house has several advantages.

  1. Peace of mind – you’ll know moving in the actual condition of your new home.
  2. Negotiation tool – if there are issues that need to be corrected, you can lower your offer price or ask the seller to fix the problems prior to closing.
  3. Easy out – if the inspection reveals issues that are too big or unsettling, you can opt out of buying the house.
  4. Plan for the future – the inspection may reveal minor updates that don’t pose safety issues that you may be able to address down the road.

The inspector will take several hours to fully inspect a home. You may be able to be in the home while the inspector works. If not, you should receive a detailed report that includes plumbing, electrical, mechanical and roof analyses. You inspector can usually tell you how many years you can wait before replacing a roof or major appliances or mechanicals including hot water heater and air conditioning unit. You might also be required to have a termite inspection.

Purchasing a home is one of the biggest financial investments you’ll make. Take the extra step to have an inspection and protect yourself from moving into a money pit.

Go In As A Winner

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Making an offer is a huge commitment and you need an agent on your side to come up with terms and an offer price. You might know how much house you can afford, based on your loan pre-approval, but knowing how much you should pay is a different story.

Your agent is an expert in local market conditions and has data to help you settle on a fair offer price. Reviewing comparable properties that have sold in the neighborhood is a solid tool to determine your offer price. This information is readily available to your agent.

Sellers have a reason for wanting, or needing, to sell their home. By asking the right questions during an open house, you can get a good feel for what will motivate the seller to accept your offer. Your Mel Foster Co. agent can help you prepare questions in advance to determine if price, timing or contract terms are most important to the sellers. This knowledge will give you leverage when negotiating.

Once you make the offer, it is customary to leave earnest money with the seller or seller’s agent. In a seller’s market, the buyer should put down a solid deposit to entice the seller to accept their offer. On the other hand, if it’s a buyer’s market, a larger earnest money deposit may prompt the seller to accept a lower purchase price.
Your agent is your advocate, looking out for your best interest to make sure you don’t overpay for a property or agree to terms out of fear of losing the house of your dreams. Rely on your agent to make sure you come to the table with a winning offer the sellers will accept.


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