Cheyenne Wyoming Real Estate Blog

Torn screens are a nuisance, but an easy solution can be found for under $2.00!

Among life’s greatest annoyances:
An empty carton of milk in the fridge, a flat tire, a torn window screen. That tiny hole is just the invitation bugs need to break in.

No need for a handyman or a replacement screen. You’ll find the right bug deterrent at the 99-cent store, if it’s not already on hand in your bathroom cabinet. But going to the dollar store is fun—you never know what you’ll find. Like cheap soda.

Supplies:
Clear nail polish, 99 cents
Two slightly dented cans of soda, 99 cents
Total: $1.98

What you do:
Apply the clear nail polish on both sides of the torn area. Slather it on so it builds up a nice barrier.
Watch it dry transparently.
Enjoy your soda.

Stay Tuned for more Quick Fixes and fun facts!

Read more: http://www.houselogic.com/blog/repair-tips/99-cent-store-solution-2-torn-window-screen/#ixzz1uxHqFiaO

Shari Webb
Coldwell Banker
The Property Exchange
(307) 286-0470

• Read More »

Compelling demographics, including “echo boomers” leaving the nest, and a still-struggling single-family housing market are pushing rents higher for real estate investment trusts (REITs) focused on apartment buildings.

The appeal of REITs isn’t just their share-price appreciation potential, but their high dividends, which make them attractive for yield hounds. For example, apartment REIT Essex Property Trust (ESS) is up 12% this year and 40% over the past three years, on average, and currently yields 2.82%. The S&P 500 ($INX) is up 9.6% this year.

Standard & Poor’s says the “fundamental outlook for the residential REITs sub-industry is positive. We believe a lower homeowner rate, despite government incentives and modest new supply (new construction), are both working in favor of multi-family operators.”

S&P Capital IQ says that as the home-ownership rate ticks lower, “many Americans may be reluctant to purchase a home until price stability returns. As the economic recovery gains steam, we expect an increase in new household formations.”

Information received from http://www.forbes.com/real-estate/

Patrick Graham
307.640.3039
Coldwell Banker
The Property Exchange

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Government-backed mortgage finance firm Fannie Mae managed to turn a profit in the first quarter, one that was large enough to cover the dividends it must pay to the government in return for being kept afloat with taxpayer dollars.

Fannie, along with sister firm Freddie Mac, was put into conservatorship by the federal government at the height of the financial crisis in 2008, and has been steadily infused with cash since. The first quarter represents a milestone of sorts though, with the mortgage firm recording net income of $2.7 billion. That marks a sharp turnaround from a $2.4 billion loss last quarter and a $6.5 billion loss in the first quarter of 2011.

While conditions in the U.S. housing market remain at depressed levels, stabilization in the industry has been critical for Fannie and Freddie. In Wednesday’s report, Fannie Mae noted that lower expenses related to credit, thanks largely to “a less significant decline in home prices, a decline in the company’s inventory of real-estate owned (REO) properties coupled with improved REO sales, and lower-single-family serious delinquency rates,” helped get its books out of the red in the first quarter.

Most importantly, comprehensive net income of $3.1 billion means Fannie can cover its first-quarter dividend of $2.8 billion, and for the first time in recent memory the firm did not request an additional draw from the Treasury. After the fourth quarter, Fannie requested another $4.6 billion to fill its net worth deficit. Freddie Mac actually recorded positive net income in the fourth quarter, but still needed $146 million to erase its year-end deficit.

Hope this helps to keep you informed!

Information received from http://www.forbes.com/real-estate/

Shari Webb
Coldwell Banker
The Property Exchange
(307) 286-0470

• Read More »

Real estate ads are usually full of acronyms and terms that are unfamiliar to first-time buyers. Here’s a cheat sheet to let you in on the lingo.

4B/2B – four bedrooms and two bathrooms. “Bedroom” usually means a sleeping area with a window and a closet, but the definition varies in different places. A “full bathroom” is a room with a toilet, a sink and a bathtub. A “three-quarter bathroom” has a toilet, a sink and a shower. A “half bathroom” or powder room has only a toilet and a sink.
closing cost – the entire package of miscellaneous expenses paid by the buyer and the seller when the real estate deal closes. These costs include the brokerage commission, mortgage-related fees, escrow or attorney’s settlement charges, transfer taxes, recording fees, title insurance and so on. Closing costs are generally paid through escrow.
CMA – comparative market analysis or competitive market analysis. A CMA is a report that shows prices of homes that are comparable to a subject home and that were recently sold, are currently on the market or were on the market, but not sold within the listing period.
contingency — a provision of an agreement that keeps the agreement from being fully legally binding until a certain condition is met. One example is a buyer’s contractual right to obtain a professional home inspection before purchasing the home.
expansion pot’l — expansion potential mean that there’s extra space on the lot or the possibility of adding a room or even an upper level, subject to local zoning restrictions.
listing – an agreement between a real estate broker and a home owner that allows the broker to market and arrange for the sale of the owner’s home. The word “listing” is also used to refer to the for-sale home itself. A home being sold by the owner without a real estate agent isn’t a “listing.”
MLS – Multiple Listing Service. An MLS is an organization that collects, compiles and distributes information about homes listed for sale by its members, who are real estate brokers. Membership isn’t open to the general public, although selected MLS data may be sold to real estate listings Web sites. MLSs are local or regional. There is no MLS covering the whole country.

Happy hunting!

Patrick Graham
307.640.3039
Coldwell Banker
The Property Exchange

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Check the insulation. According to EnergyStar insulation is usually measured using the R-Value. R-Value is a measure of insulation’s ability to resist heat traveling through it. The higher the R-Value the more effective it will be to beat the heat. The level of insulation recommended for your area can be found at www.EnergyStar.gov. The level of insulation recommended insulation, you can add more right on top of the old insulation. However, don’t put a vapor barrier between the layers. Be sure the insulation doesn’t block vents or cover exhaust fans.

Get the air conditioner ready. Shut off power to the unit before cleaning it. On the inside, wash or vacuum cleanable filters; replace disposable ones. Outside, clear leaves and other debris away from the condensing unit. Hose off any accumulated dirt.

Install awnings over windows exposed to direct sunlight. Keep the sun out of your house. Close blinds, shades or draperies during the hottest part of the day. Consider planting fast-growing trees and shrubs near your home but away from power line, to provide shade.

These are just a few more simple ways that can help you to save money and beat the heat this summer!

Shari Webb
Coldwell Banker
The Property Exchange
(307) 286-0470

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Before it gets too warm, it’s time to make sure you’re ready for hot weather. This doesn’t mean running out and buying the latest swim wear. It means checking your home’s heat and air-conditioning system. First, change your filters in your heating/cooling system. Change them regularly – at least monthly.

Next change your thermostat over to “cool” and test the system by turning the temperature down. If the air conditioner does not turn on, first check to make sure no breakers are tripped. If you can’t figure out the problem, call your heating and air conditoning repair person. Calling early may keep you from making an “emergency” call when the temperatures are soaring and the repair people are too busy.

If your cooling system turns on, make sure it is putting out adequate cooling. If it’s not, and you can’t figure out the problem, call your heating and air conditoning repair person.

If your air conditioner needs replacement do it BEFORE the HOT WEATHER HITS because heating & air conditioning repair people will be very busy. And more than likely, some other things around your home need attention as well. Your air ducts may need testing for leaks and then sealed. Your attic insulation probably has compacted, so you need to add an additional 5 to 8 inches. Your windows and doors and other parts of the building envelope may need caulking and weather stripping. You need solar window film to keep out the heat.

These are just some helpful hints to ensure that you will be ready and safely secured for the onset of summer! Then you can go out and buy that new swimwear you had your eye on!

Happy Summer!

Patrick Graham
307.640.3039
Coldwell Banker
The Property Exchange

• Read More »

Last week, there were a few short tips to making your home the best on the market. This is a follow up to that with more helpful hints!

–Patch Drywall Dings and Dents. Imperfections like drywall divots suggest larger problems with the integrity of your house. Patching dings and dents is crucial to a fast sell, especially if you plan on painting. Make your walls flawless before showing the house.
–Unstick Stubborn Doors. Sticking doors are bothersome, and even more so to prospective buyers touring your home for the first time. With some sanding and varnish, you can quickly eliminate this common irritation.
–Repair Tile Grout. Make your bath and kitchen look brand new by ridding these rooms of shabby and damaged grout. Repairing grout could take some time, depending on the magnitude of the project. But the striking results will be well worth the time spent.
–Upgrade Kitchen and Bath Faucets. Replace faucets to give your kitchen or bathroom a quick facelift. A new faucet can set a more contemporary aesthetic and pique interest from home buyers. If your current faucets are leaking or worn, a new faucet is an absolute necessity.
–Clean Your Gutters. Clogged gutters could make a great house look neglected. Clean your gutters twice a year. While cleaning, look for trouble areas that need repair like holes and leaking joints. As a convenient perk for the buyer, install gutter screens.

These tips might not seem like the easiest things to improve, but they will definitely make a difference!

Shari Webb
Coldwell Banker
The Property Exchange

(307) 286-0470

• Read More »

Wondering which home improvements might make your house a hit? Check out these few tips to get your house to the top of the buyer’s lists!

–Repaint Rooms. Paint with a buyer’s sensibilities in mind. Use neutral colors throughout your home to lend continuity from room to room. Paint with light colors to make living areas appear roomier and darker colors for a cozier feel.
–Wash and Paint the Exterior. Repainting your exterior increases curb appeal. Spruce it up with a thorough power washing. If your house’s exterior paint has faded, a new coat will add value and attract more house hunters.
–Shine with New Lighting. Bring out the best features of your house with a new lighting layout. A brighter room will appear more spacious and inviting to potential buyers. Accentuate your house’s distinctive elements with track lighting, table and floor lamps, or wall and ceiling fixtures.
–Organize and De-Personalize. Cleanliness leads to closing. Clear your house of clutter with new storage or shelving. At the same time, help buyers envision the house as their own by removing personal items like knick-knacks and photographs.
–Repair or Replace Window Screens. Fixing sagging, dirty or ripped screens is one of the easiest and most inexpensive home improvements for home sellers. Take an afternoon and rejuvenate your windows and doors with just a few simple tools.

Here are just a simple tips to help you! Check out the next blog for a few more easy tips.
And remember, first impressions are the most important impression you can make!

Patrick Graham

307.640.3039

Coldwell Banker
The Property Exchange

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How would you like to know what it will take to seal your deal to get the house you have always dreamed of. There are always a lot of questions when it comes to selling your home. Here are a couple of frequently asked questions that come along with this process.

First off, what are closing costs?
–Closing costs are charges that are paid when property changes hands. These costs cover services required to process the transaction, including title work, appraisals, inspections, document preparation, recording fees and other expenses. In many cases, there are also loan origination fees which are charged by the loan officer to find the right loan and secure approval and that are part of the closing costs.

How long does closing take?
–Going through all the steps involved in the legal transfer of property varies from one sale to another, but traditionally most sales close in about a month. In recent years, 15 day closing periods have become more common, and in some cases buyers and sellers agree to wait 60 or 90 days before closing. Signing the papers and handing over checks and keys will take about an hour.

Can I move into my new home on the day of closing?
–Your move-in date is usually part of the purchase agreement and is often determined by local practices. Realistically, it’s challenging to close and move in the same day, and it can be risky to plan it that way. If the closing takes longer than expected or gets delayed by even a day, you’ll find yourself pressed to manage the move and perhaps stranded between properties. And even if you could move that day, why would you want to? Why not take the rest of the day to celebrate your momentous purchase-then get plenty of rest and handle the big move tomorrow!

Of course there are always a lot of questions when it comes to such as big deal like this, but these are a couple of questions that are the most common. Hope this helps with a lot of you buyers and sellers!

Call a real estate agent and seal your deal today!

Shari Webb
Coldwell Banker
The Property Exchange

(307) 286-0470

• Read More »