If Brass Fixtures Are Out, What's The New Timeless Options??

Dave,

You have stated on multiple occasions that brass fixtures are outdated.  What is the current trend, what will it be next week, next year, or when I I decide to sell in a few years?  What would be a neutral selection for cupboard knobs and other fixtures? Every year it is something different so the industry can sell product.

Nancy -Grand Junction

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Nancy,

Ok… guilty as charged!  You are right, I have mentioned several times over the years that brass is out of style and I will continue to stand by those assertions, however I must admit that brass is making a comeback when people are going after a mid-century modern look.  Keep in mind that the vintage look they are after is not necessarily the look in my grandmother’s bathroom with shag carpet and those sexy chandeliers, but a trendier, updated style with a modern twist!  I also believe that your question pretty much sums up almost every industry that exists… cars, cell phones, televisions, furniture, home fixtures and the list goes on and on.

It is every industry’s job, in fact it is vital to their continued existence, to come up with new and innovative (or even recycle the old) products to keep the consumers consuming!  If we (the public, do not continue to consume and if we no longer change our likes and dislikes, the retail world would literally stop turning and our economy would go right down the drain with it!) Change is the one constant that keeps our economy moving and honestly keeps things interesting.  How boring would it be if we were still watching black and white televisions, driving Model T fords, listening to Big Band Music or wearing 70’s bell-bottoms?  Ok… maybe the bell-bottoms might still be kinda cool and I am sure my parents would love for Big Band music to still be mainstream but, for the most part, it is a good idea that all of these trends rest in peace!

That being said, you can run the gamut from oil rubbed bronze, polished nickel, chrome, brass, rose gold, matte black, or white for your fixture choices, but none guaranteed to be the “in” thing when it comes time to sell.  My recommendation would be to choose what suits your taste best (with the exception of brass) and be prepared to make changes if need be when the time comes to sell.  I think virtually any choice you make can maintain somewhat timeless qualities, depending on what other finishes accompany your fixture choice.   Of all the fixture finish choices, it is my opinion that chrome or brushed nickel have the best opportunity to maintain a timeless quality…..least likely in my opinion would be old school brass or rose gold.  I honestly think the newer black matte finish has a chance to last, especially in a more industrial or contemporary setting.  I would also suggest that once you choose your fixture finish, let that help guide you in choosing your knobs.  I have seen it done several times and if done right you can mix and match your knobs by using all kinds of different styles or stick with a knob that coordinates with your fixture finish.  Fortunately for you, mixing and matching is in these days so go for it!

Regardless of the route you take, I encourage you to take a road that will bring you joy and choose something that you will love and enjoy living with.  If you are going to sell in the next 2-5 years, my bet would be that nothing you choose will be completely “out” of style by then, so the stakes are probably not very high.  Choose what you like the most and when the time comes to sell you can make some minor adjustments if need be.  I hope this helps and I hope you have fun with choosing new fixtures.  It's always fun to spruce up a space with some new fixtures and textures.  Good luck!

Dave Kimbrough

The Kimbrough Team

What's The Deal With "No Money Down" Loans??

Dave,

I occasionally see houses that are advertised as “no money down.”  Isn’t this what got us in trouble, when the housing bubble occurred?   How are they doing $0 down loans again and why would we go back to the same loans that sank the economy back in 2010?  I must admit that I am surprised to see this, as I thought we had learned our lesson, but clearly we might have to learn it the hard way! 

John, Grand Junction 

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John,

Great question and one that I am sure many people have when they see these types of advertisements.  It HAS become more difficult for many buyers to get a loan (at least as compared to 2007), but in my opinion the “firming” up of lending practices was needed and only significantly impacts those who might be labeled as “marginal” buyers.  Lending from 2002-2008 was too lenient, which was a big part of what led to the housing bubble, and now we have returned to much stricter guideline practices, especially for those potential buyers who may be on the fence and not completely credit worthy.  You must have good credit, good payment history, good work history and believe it or not, at least 3 ½ % down for most loans that are not VA (loans through the Veterans Administration) or RD loans (Rural housing and development).  If you meet fulfill these criteria, there are many avenues to lending and purchasing a new home!! 

It is my bet you are seeing homes advertised that are classified as Rural Development eligible.  Rural Development is a loan program that is meant to encourage potential home buyers to consider more rural areas to promote growth in those areas. (i.e. Fruita and East of 32 Road)  Rural development has recently expanded the areas that qualify for these no money down loans and I bet you may have seen signs in one of the areas that is eligible.  Rural Development loans are very desirable to potential buyers because you can purchase in these areas with NO money down. You can get a rundown of the new map from any local lender, as these loans are very popular in our area. 

I would agree with you that, on the surface, loans of this type appeared to be at the root of the housing crisis, but the major difference is, these RD loans are designed to promote growth in designated areas and to promote the growth, buyers are enticed by the zero down option.  Remember, the down payment requirement is less, but the other criteria of good credit, good payment history and good work history are still part of the equation. These loans historically may have a higher default rate, but with the tightening of the overall lending standards I believe these types of loans will now fall in line with more conventional lending options.   

In summary, what led us down the housing crisis and impending disaster was not just the no down payment loans, but no documentation (referred to as no-doc or sub-prime) loans and the adjustable rate mortgages.  The Adjustable rate mortgages were very enticing as the low interest rates in the first 5 years was very attractive, but what many found was they quickly ballooned out of control.  There was a time, not very long ago, that verification of income was not always required to obtain a loan etc...  When you DO NOT have to verify your income to obtain a loan, trouble is, as we found out, just around the corner.  At today’s interest rates, you can bet that lenders are going to remain somewhat cautious, however if interest rates ever go up (above 6%) we might just see some riskier lending practices return.   With interest rates right around 4% virtually any significant risks outweigh the gains.  As interest rates go up, easier money availability will increase, but hopefully only trending towards barrowers who have good credit, good payment history, good work history and some skin ($) in the game.  I am confident we will continue to see that there are some solid checks and balances.  Hope this answers your question. 

Dave Kimbrough,

The Kimbrough Team

Where Should We Spend Our Money to Spruce Up Our Home to Sell For Top Dollar?

Dave,

We will be putting our home on the market this spring/summer.  Our home is an older home, built in 1993 and is looking somewhat dated, but it is in good condition as we have maintained it very well.  Our kitchen and bathrooms are original, but we put in hardwood floors 3 years ago and our yard is wonderful.  We do not have a lot of money, maybe $3,000 - $4,000, to spend on it before we put it on the market, but want to know where we would get the most return for doing some things to bring it up to today’s standards?  Where are the areas or what items deliver the best return?   

Ben and Chelsea, Grand Junction

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Ben and Chelsea,

Your home, built-in 1993, is at the age where you can see some significant dating of the features, but luckily you are beyond the '70s & 80's where you see dated features that are much more expensive to remedy.  There is more good news in your question, your home is in good condition and you have a beautiful yard.  Great curb appeal is hard to replace and if your yard is really wonderful, you will see an increase in showings because you have passed the “curb appeal” test.  Typically buyers get their first exposure to your home by seeing it on the internet and if the pictures look good then the next thing they do is drive by it to get a first-hand look.  The drive-by is where the “curb appeal” test takes place and if it is attractive or has the features they are looking for from the curb, then they are likely to set up a showing.  Sounds like you have a handle on the outside features, let's concentrate on the inside.

More good news, you can make a major difference inside without breaking the bank.  In my mind, the two things to look at first are paint and flooring.  Nothing beats a fresh coat of paint, not only in appearance but also in smell.  Remember, purchasing a home is a process that involves the senses and new paint sure makes things feel fresh and new.  Flooring is also key and it sounds like you made a great call by installing hardwood floors, most buyers see hardwood floors as a desirable upgrade.  If you have carpet in your home, look it over and if is worn out or worse yet, blue or rose-colored look to replace it!!  If you have a nonneutral carpet color, it will cost you showings and generally cost you money, it is just that simple.  It is the rare buyer who loves the navy blue carpet in the living room.  Also note that if your carpet is not in terrible shape, try having it professionally cleaned.  I have seen a professional carpet cleaner work miracles.  Both carpet and paint can deliver a great return.

Another area with great impact at an affordable price is lighting fixtures.  Nothing, except wallpaper, can date a home like light fixtures and you can get some really nice fixtures at an affordable price that can help transform an entire house.  Light fixtures are big impact items are reasonable prices, get rid of the polished brass, it is old school.  Also, look at doorknobs and hinges, as these are also fairly inexpensive touches that will help bring your home up to date.  If your interior doors are flat-panel dark wood doors, replacing them with paint grade doors can make a big difference, especially if you have long hallways.  It is amazing what new doors can do to lighten up a hallway. 

In the kitchen, consider cabinet hardware, a tile backsplash or a new faucet.  A nice tile backsplash can give new life to even the most dated kitchen and does not have to cost a fortune to look great.  In your bathrooms, look at new hardware, new towels, faucets, sinks. (especially if they are not neutral or white in color)

This should give you a good starting point, work your way through the items and decide what features your home needs the most and just go for it.  You do not have to do everything to make a significant impact, but sometimes not doing anything can make a big impact in the wrong way.  You are setting yourself up for success. Merry Christmas everybody! 

Dave Kimbrough

The Kimbrough Team

How Do We Spruce Up Our Winter Curb Appeal?

Dave,

We are getting ready to put our house on the market and need your advice. Our home’s landscaping and curb appeal is super cute when everything is blooming in the spring…the only problem is that it’s not spring! When you drive up to our house it’s just kind of…blah. Everything is brown and dead right now. Any tips for kicking up curb appeal in the winter? We really want to make a good first impression on buyers and could use some serious help!

Thanks and Happy Holidays!

Trish

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Trish,

Wow…. You are wise to be thinking about your home's curb appeal during winter. Few people put enough emphasis on their homes curb appeal even in the summer, but to have that on your list of “to-do’s” this time of year is seriously being on the ball. Believe it or not, there are quite a few things you can do to spruce up your homes curb appeal during winter and it all starts with de-cluttering!

What do I mean by de-cluttering? You can start by trimming back over-grown bushes and trees (make sure to consult an arborist before you go to crazy on trimming thing back). Rake up and dispose of dead leaves and sticks that seem to pile up in entryways, walking paths, window wells, decks, and patios. Don’t be afraid to even cut your lawn on a day where we get some warmer (40-50 degree) temps. I know that sounds over the top, but you can have a fresh-looking lawn and a quick cut and trim will definitely spruce it up. I am always amazed at my neighbor’s yard. He will cut and trim his yard sporadically even over the winter and it always looks clean and fresh! I wish I had his dedication! Once you have it cleaned up, consider the thought of some new plants. Even in winter, they can make a serious impact with an affordable price tag!

You can bring in colorful pots or planter boxes and plant some smaller evergreen trees or shrubs (small pines, junipers, boxwoods etc) around your front door and entryway that will add color and at the same time provide added pops of green in an otherwise brown and drab western Colorado winter. In the same vein of adding color, don’t be afraid to put a fresh coat of paint on the front door and even shutters (easy to install if you don’t have them already) on some of the warmer days that we can have here in the Grand Valley. I think that people assume that you can not paint at all during winter, however, there are some paint brands (McCormick is one of them) that allow for painting when temperatures are as low as 35 degrees! This may at least give you an opportunity to add a pop of color if you choose. While you are at it, you might also consider a quick refresher on the old mailbox (that is if you don’t use a neighborhood cluster box). You might hit that with a quick paint touch up at that same time and the same color as the door. If you have a front patio or porch area you can still stage it with outdoor furniture and add a few new cushions to freshen up the winter look. Any of these ideas are low cost, moderate to high impact ideas that should be quite easy to implement. Lastly, don’t overlook the opportunity to upgrade your exterior lighting to improve the look of your home in the winter.

Keep in mind that it gets dark earlier this time of year and many buyers will be exposed to your home during dark or low light times and upgrading or adding to your lighting can make a big impact. Don’t be afraid to play with some brighter bulbs, new lights, lanterns, directional landscape and path lights to help make your home come to life. Lighting can have a dramatic impact on a homes curb appeal, especially during the winter months when the night hours are much longer. Lastly and easy upgrade is to change out your address numbers on your home. Even something that small can have an impact as there are now many different types of house numbers and even some that even light up!

I hope this gives you a few ideas of things you can do to freshen up your curb appeal during the winter! Curb appeal is one of the things that provide the highest return on investment and can deliver a huge impact. Best of luck with winter selling! Merry Christmas.

Dave Kimbrough

The Kimbrough Team

Are Skylights a Good Idea in Older Homes?

Dear Dave,

I own an older home that doesn’t have very many windows. I have been throwing around the idea of putting in a skylight or solar tubes. I have heard of people having problems with these things leaking, but I have also heard stories where people didn’t have any problems with them. What is your experience with skylights and/or solar tubes? Would you recommend putting them in a house?

Thanks for the help-

Bob - Grand Junction, CO

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Bob,

I love them!  I love Skylights and solar tubes.   A dark home is NOT a good thing and bringing in more natural light is always a good thing!  You can’t get too much natural light, especially if your home tends to come off dark.   Skylights and Solar Tubes are a wonderful way to brighten up any home with few lingering issues.

There is always a chance for leaking when you penetrate your roof with a hole and then attempt to seal it up, however if installed properly I think you will find few, if any, lingering problems.  The added benefits certainly outweigh the risks and introducing more natural light will not only add value to your home, but also increase your quality of life!  Trust me, it will be some of the best money you can spend on your home.  It is time for you to come into the light!

Dave Kimbrough

The Kimbrough Team

Have a question? Ask Dave!

Are Pre-home Inspections a Good Idea on Older Homes?

Dave,

We will soon be selling our home and looking to downsize.  We have lived here almost 15 years and are the second owners.  We have taken good care of our home and have kept up on routine maintenance and also fixed any items needed over the years.   Our home is older, built in 1976, but has been well taken care of.  We are considering a Pre-home inspection, as one of our friends intimated that it might be a good idea.  Your thoughts on pre home inspections?  Thanks.

Dwight, Grand Junction

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Dwight,

On face value it sounds like you could go either way.   Your friend is right, it can be a really good thing and offer you, the buyer, and the real estate agents some peace of mind that the home is in good condition and free of any major problems.   The decision should be based on your knowledge of the home and how likely you believe it is that a problem may come up during the home inspection period. With any home built in the 70’s there is a reasonable chance that quite a few items will come up on the home inspection, not because you haven’t taken care of your home, but because it is old!   Generally I think it is a good idea, based on the age of your home, but it will set you back $300-$400.  This may be a very small sum in the long run, if it prevents a deal from falling apart.

One major thing that a pre home inspection will do is likely bring any “deal killers” to the surface before you get your home on the market and under contract.  If you do find a significant issue up front this will allow you to get it resolved prior to putting it on the market and getting it under contract.  There is no doubt in my mind that many things that happen during and related to the inspection period, after a home goes under contract, are blown way out of proportion and have as much to do with leverage, emotion, fear and lack of knowledge than the problems that are discovered and their remedies.  Once a For Sale sign goes up in your yard, regardless of what anyone says, everything changes and everything gets magnified, especially in a market where buyers can be difficult to find.

There are two things that I think are a great idea, regardless of the age of your home.    If you are currently on a septic system, I highly recommend you have your tank pumped and inspected prior to putting the home on the market as this serves not only as great preventive maintenance but will also put a stop to any potential septic issues before they generally get started.  Also, have a Licensed heating and air conditioning professional come and give your heating and cooling systems the once over and provide a receipt for a clean bill of health.  Septic systems and your homes mechanical systems (especially heating) are two items that many home inspectors single out and recommend buyers have those evaluated by Septic and HVAC professionals.  It is good preventive maintenance and eliminates the potential for a conflict of interest to have those things checked out ahead of time.   One more thing, if you have any question or doubts about your roof, have that inspected also.  Roof inspections are generally free and will bring any potential issues to light and notify you in advance if your roof is at the end of its expected life. 

I recommend a pre-home inspection if you have ANY concerns about a “deal killer” issue that may come to light.  If you have no concerns about that, then I would not do one.  If you do have concerns that there may be an issue there, some little nagging hunch, then I would pull the trigger on one and not even think twice about it.  You know your home better than anyone and if you think you need to have one done let me know and I will be happy to recommend a few that will do a great job!  A pre-home inspection is not for everyone, but maybe it should be….. I am finding myself rethinking the issue as I write this column.   Thanks for the thought-provoking question.

Dave Kimbrough

The Kimbrough Team

Have a question? Ask Dave!

What Is The Best Way To Estimate The Value of Our Home?

Dave,

We are thinking about selling our house, but we would first like to know how much our home is worth. We’ve seen a few websites—like Zillow and Truila, just to name a couple of them—that say they can estimate the value for us, but we aren’t sure if they are reliable. We know you’ve been doing this for quite a while and trust your advice. When you are selling a house how do you determine if these web sites are a reliable source for establishing the value of our home?

Tom, Grand Junction

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Tom,

I love this question!   For the purpose of this answer we will focus on Zillow as it is by far the most used and relied upon real estate web site.  Zillow is, in my opinion, the best of all the real estate web sites at marketing to the public and to Real Estate agents.  It has established itself as the “go to” web site for helping the public not only keep track of local and national real estate trends and homes for sale, but has also been effective at instilling the perception that it can help you establish a value for your home.  The Zillow.com home valuation tool is called a “Zestimate”. 

I encourage you to go to Zillow.com and click on the FAQ, frequently asked questions, and scroll down to the “How accurate is the Zestimate?” and click to open.  What you will find is what very few know or ever venture to find out.  Here you will find out how good their marketing has been.  The marketing has been so good that the public has willingly flocked to a product that is almost wrong more often than right.  In the terms of statistical accuracy a “Zestimate” is virtually worthless.  What Zillow.com is admitting, in the fine print, is that their Zestimate is not overly accurate.  Actually, statistically speaking it is amazingly inaccurate!  There are too many variables, that don’t have to do with measurable and quantifiable characteristics, to allow a computer to provide an accurate statistical analysis on a home’s value.  Lets dive into some of the specifics!

When the Zillow website states that the Zestimate is accurate within 5, 10 or 20% keep in mind that can potentially mean a PLUS or MINUS percentage number!  In other words, IN COLORADO, if an “off market” (meaning the home is not currently for sale) home zestimate is $400,000 you can figure that value is correct within 10% ($360k - $440k…. an $80k spread) only 68.4% of the time… that means that 31.6% of the time they are even more inaccurate!  In Colorado the Zestimate gets it right to within (+ or - 5%) only 43% of the time!  This means that if you are on Zillow and your home is NOT on the market, the value provided by the Zestimate can not be considered accurate… its more of a poor guesstimate!  On the bright side…. If we look at the Zestimate numbers of “on market” homes the numbers are much more reliable. 

Zillow’s accuracy numbers in Colorado for “ON MARKET” homes (meaning a home that has been listed for sale by a real estate agent or for sale by owner) the accuracy increases significantly (90% are within +/- 5%) and are much more reliable.  Why such a dramatic increase in accuracy AFTER a home goes on the market?  This is because they have a local real estate agent establish a market number so the Zestimate can react accordingly.  In their own FAQ’s they site that after a home is listed that their algorithm incorporates new listing data to provide “valuable signals” about the homes eventual sales price!  I find this statement funny….. the new listing data or “valuable signal” is an accurate list price established by someone with local market knowledge!  

Overall, I would say that online valuation modulators are not a reliable source to establish a homes value.  At Zillow.com it goes on to say that a “Zestimate is a good starting point as well as a historical reference, but it should not be used for pricing a home.”  The very best way to establish your homes value is to have a local real estate professional (or two or three) out to view your home and help you establish a proper market value for your home based on neighborhood home sales and what those numbers indicate that a buyer is willing to pay for similar homes!  These quick computer tools are novel and potentially useful to gauge the overall market temperature, but that may be the limit of their usefulness at this juncture.  No doubt there will be many that work to improve the AI in an attempt to better hone property values, but that day has yet to arrive. 

Hope that helps,

Dave Kimbrough

The Kimbrough Team

Have a question? Ask Dave!

What Is A "Pocket" Or "Off-Market Listing"?

Hi, Dave.

Great columns. I always learn a lot. Can you explain exactly what "pocket" or "off-market listings" are, how they work, and how a buyer can tap into that segment of the market?

Thanks.

Bill F., Grand Junction

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Bill F,

The under used, but often successful "pocket listing"! One of my favorites! A pocket listing can be a sellers best friend and is something that we certainly use an awful lot each year. In fact, we will sell a dozen properties each year by utilizing the “pocket listing” status. A pocket listing is a listing that is not advertised and may be withheld from the multiple listing service until such time you are ready to go public with the sale of your home. With a pocket listing your listing agent can promote it to their peers and colleagues and will typically do so through word of mouth. If you go this route, you always run the risk of word getting out, but your chances of keeping it quiet are exponentially greater. A pocket listing can be a successful way to flying under the radar and still getting your home sold in a timely fashion and getting a jump start on selling before you are ready to put the sign in the front yard. If you go this route, I would suggest you be prepared to move as the results are often times quite good. 

The pocket listing is a great way to get your property exposure on the “down low” and buyers are generally excited to see these properties as they feel like they are getting a sneak peak at it before everyone gets a chance.  It’s a great option for those who dread the showing process or don’t want the hassle of showing after showing for several weeks. The traffic flow is often sporadic at best, but using this method allows you to hunt and peck for candidates that are most often much more targeted and many times pre-screened to help increase the chances they are a fit!  Keep in mind that a pocket listing may not always be the best option.

The pocket listing process does not provide the best environment for competition and multiple offers as the selectivity of who knows or has access can limit the big rush that many times occurs when a new property hits the market. This means that getting multiple competing offers that may drive the price up above the listing price is not common but getting an offer at the list price is a likely outcome because you can leverage the early access angle. Access to these properties is often times just being in the right place at the right time!  Many buyers are often frustrated when they see a house has sold before it even hit the market and feel cheated that they did not get a chance to view it.  One way we help our buyers get access to the ‘off, but on market’ properties is networking with other agents and e-blasting (email blast) to all the agents about what kind of property we are seeking! It’s amazing how many properties turn up when we e-blast for a buyer’s need if properties on the market at that time don’t fill the bill. 

I would encourage you to hook up with a real estate agent and have them start networking and e-blasting your specific property needs and see what turns up after doing so. You have to turn over every stone and sometimes turn them over time and time again to find just the right place! It does not always happen, but it sure can be an effective way to discover special/unique properties that are ready for sale, but just not in plain sight! Looking off the beaten path is sometimes where the best trails are forged! Looking in ways and places not everyone is looking is sometimes where real gems are found. Have a wonderful Sunday and thanks for your question.

Dave Kimbrough

The Kimbrough Team

Have a question? Ask Dave!