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Don Nunamaker, Realtors

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Hood River Real Estate Market Watch Newsletter

by Don Nunamaker, Realtors

The number of closed sales in February is similar to January and December. Americans are feeling more optimistic about a housing recovery which I see this same attitude reflected in the Hood River market area. Twice as many lots sold in 2012 compared to 2011. Part of these sales were to builders who felt confident enough about our market to want to build a spec home. Also much like national markets, the number of foreclosures in The Columbia River Gorge have declined. If you have any questions or would like specific information on a listing, please feel free to give us a call.  We are here as your Real Estate Resource.

Scale up with these three popular luxury amenities

by Don Nunamaker, Realtors

 

 

The Columbia Gorge setting of your home is just right, and maybe you've even got an enviable view. You've got all the square footage you need, so what can you do to take your home from above average to down right amazing? Consider these three popular luxury amenities that high-end home buyers desire.
 
1. Wood finishes are hot nationally, but they could be a particularly nice accent to any home in the Gorge. Exotic woods will be more expensive, but less expensive wood can also be used impressively if the you focus on the quality of craftsmanship. If you are considering adding wood accents to your home, pay careful attention to the grain patterns to demonstrate continuity from one piece to the next.
 
2. Open up your home to guests with an expanded great room. The idea of having an open dining and living space to entertain guests is nothing new, but the trend is take quality to the next level. Keep an eye on the details from flooring to fixtures for a more impressive great room. Large, single pieces of stone or wood will lend a more impressive look to the finished room.
 
3. Turn your master bath into a wet room to enjoy a spa experience without leaving the comfort of your own home. You can add shower heads and benches to sit on, or maybe even a steam feature for a sauna-like experience. These amenities don't come cheaply, but you can enjoy them on a daily basis. For an extra level of decadence, consider heated floors or a Japanese soaking tub.
 
Source: Eight popular amenities for high-end homes, 24/7 Wall St., December 23, 2012

Can a kitchen remodel add value to your property?

by Don Nunamaker, Realtors

 

Homeowners considering a kitchen remodel might be wondering what upgrades they can make in order to improve the resale value of the property. Perhaps they want to put their home on the market right away, and are concerned that an out-dated kitchen won't meet buyer expectations; or maybe the homeower is just planning for a future sale. Either way, a kitchen remodel doesn't have to break the bank, but it can add value to a home.
 
The first consideration should be the budget you have to work with. Real estate writer, Stephen Jones, warns that refinancing your home with a cash-out option may give you the cash you need to do a major overhaul of your existing kitchen, but it may not raise the value enough to match the investment. A better option may be to work within a smaller budget using cash you have on hand.
 
To get the most out of your remodeling dollar, you should give consideration to what local buyers are looking for. Although tastes do vary, there are a few observable trends in the Columbia Gorge area that will appeal to a wide audience of buyers.
 
Erin Barrett, Kitchen and Bath Designer at Adams Design Center in The Dalles, says that one common misconception is that refacing cabinetry, or the process of replacing just the cabinet doors, will be a more affordable option than a complete cabinet overhaul.
 
"The doors are actually the most expensive part," Barrett says, "so it's usually better to redo the cabinets entirely using an affordable product." One way that she helps clients save money without sacrificing quality is to use RTA (ready-to-assemble) cabinets. These cabinets save money because they are shipped flat and assembled upon arrival.
 
Barrett says that the most popular cabinet style, by far, is the Shaker style of cabinetry with its basic, recessed rectangle design. "People like it because it's versatile," Barrett says, "and it goes with almost any decor."
 
Many Gorge residents are opting for a modern look in their kitchen. One way to achieve a clean and modern look even in a vintage style home is with the use of quartz counter tops. Quartz is popular because it is affordable, and it mimics the look of stone with almost no maintenance.
 
Another tip is to keep the color palette neutral. Bright or unusual colors just don't appeal to everyone, and neutrals are easier to design around. "We're seeing a lot of grays," Barrett observed.
 
Replacing older appliances may not be the best bang for your redesign buck. It is almost impossible to anticipate the needs of a future buyer, so it might be best to leave the appliance upgrades to the new owner.
 
Looking through magazines and surfing the internet for kitchen ideas is a good place to start. If you're not the DIY type and you want to hire a designer like Barrett, having photos of what you like is a helpful place to start.
 
"Just ask for what you want," she advises, "and don't worry that it's unattainable on your budget."  

Save Money This Year With A Greener Home - Part 3

by Don Nunamaker, Realtors

 

In our last post, we covered the basics of weatherizing, but perhaps you have already weatherized your home. Are you ready to take the next step to lowering your energy costs and improving the sustainability of your home?
 
A solar powered water heater might be the right choice for you. You may be skeptical about whether or not the Columbia River Gorge gets enough sun to make a solar water heating system worthwhile, and luckily the answer is an enthusiastic yes, however, the orientation of your home's roof as well as other factors may make a solar system a less viable option for you. Hood River based, Green Home Construction offers a free solar analysis to help you decide if solar is the right option for your home. 
 
Keep in mind that for solar water heaters, the savings isn't just on your energy bill. Oregon homeowners can receive up to a $1,500 tax credit for installing a solar water heating system in their home. The most important consideration here is to be certain that you are complying with the Oregon Solar Energy Industry Association by getting an OG300-certified system.   
 
For more information and ideas check out the Gorge Earth Center, a local nonprofit committed to providing resources to help residents live sustainably. For inspiration consider attending their annual Gorge Green Home Tour in the fall to see firsthand what strategies other Gorge residents are using to be more green at home.

Save Money This Year With A Greener Home - Part 2

by Don Nunamaker, Realtors

 

Last week we wrote about getting an energy audit of your home. This week we tackle the next step to living greener and lowering your energy bills:
 
Weatherizing
 
Now that you have all the information you need, you can get started on weatherizing. Many companies will handle the details for you, but for those do-it-yourself types there are a few areas to focus on in order to improve the energy efficiency of your home, and these will translate into savings in the coming year.
 
Sealing air leaks and improving insulation is an important second step. Your energy audit should have identified where the leaks are, so now you can seal small leaks with spray foam or caulking. You may wish to hire a contractor to tackle bigger leaks, but Energy Star also offers some helpful tips online for homeowners who want to try sealing holes and larger leaks themselves.  
 
When adding insulation, keep in mind that insulation performance is rated by its R-value, and different R-values are recommended for different regions. For our area, Energy Star recommends R49-R60 insulation for an uninsulated attic, or R38-R49 if you are adding to an existing layer of insulation. R25-R30 is recommended for floor insulation.
 
Another area where additional weatherizing is often needed is in your home's heating duct system. Ducts are typically hidden away in walls and ceilings, and because of that it is recommended that you hire a contractor to work on weatherizing the duct system for you. You can always start by insulating the exposed ducts yourself using mastic sealant or metal tape. Despite its name, duct tape is not a good choice for long term repairs.
 
Next week we will discuss how to take your green home to the next level with solar energy.

Save Money This Year With A Greener Home - Part 1

by Don Nunamaker, Realtors

 

Many Gorge residents are drawn to this area, at least in part, because of the majestic natural beauty of the Columbia River and surrounding landscape. Gorge citizens have a strong incentive to preserve the beauty around us, and over the years more local groups and businesses are offering resources to help residents live greener. The incentives aren't just aesthetic, they are also economic. Using less energy and water in your home can save you money in addition to adding value to your home.
 
If living greener or saving money is on your list of things to do in the coming year, here is the first of a three-part series of suggestions to get you started.
 
Get An Energy Audit
 
An energy audit is a great place to start because it helps you identify the key areas of your home where weatherization may be needed. There are a number of qualified auditors in the area, and some homeowners may even qualify for a free energy audit through a pilot program called Weatherize Oregon Now
 
A professional auditor will examine your home's exterior and interior for signs of water or air leaks, and assess how bad those leaks are. They will also test the efficiency of appliances, and gauge how well and where your home is insulated. All this information is used to create a unique profile of your home's energy use and to recommend upgrades. To help you decide which upgrades or changes to make first, the profile will also give you valuable return on investment information.
 
Next week we will discuss the next step to a greener home - weatherization.
 
 

Will Mortgage Rates Remain Low in 2013?

by Don Nunamaker, Realtors

Potential home buyers and those looking to refinance have no doubt noticed that mortgage interest rates closed at record lows last year, but what will happen in 2013?

According to Freddie Mac's Weekly Primary Mortgage Market Survey for the week of December 27, 2012, 30-year fixed-rate mortgages were down 0.6% from a year ago averaging 3.35%. 15-year fixed-rate mortgages averaged 2.65%, amounting to an almost identical difference of 0.59% less than the closing rates in 2011. The question on every prospective home buyer's mind is will the trend continue? The consensus seems to be that rates are not likely to go lower.
 
Mortgage Bankers Association predicts a gradual rise in 2013 that could culminate as high as 4.4%, indicating that we may well be nearing the end of record low mortgage interest rates.
Other experts, as surveyed by Fox News, were more conservative in their estimates. Dean Baker from the Washington, D.C.-based Center for Economic Policy and Research anticipates a more gradual rise. Baker reported to Fox Business, "I would expect mortgage interest rates to gradually edge up over the course of 2013 so that they are around 3.8% by the end of the year."
 
As we near the end of January, there has already been a slight uptick in mortgage rates. Mortgage News Daily reported a sudden and surprising jump in rates mid-month that may signal more volatility in rates than was anticipated just a few weeks ago.
 
The bottom line seems to be that those looking to refinance should lock in their rates now while they remain low. For home buyers, there is much to consider in addition to interest rates. As mortgage reporter Polyana da Costa put it, if buyers are otherwise ready to commit, "they should move quickly to take advantage of the low rates while they last."

Forecast for the 2013 Housing Market Looks Bright

by Don Nunamaker, Realtors

At a builders’ show in Las Vegas it was said the housing market has bottomed out and should show solid improvement, especially next year.  The National Association of Home Builders expects construction of single-family homes to increase nearly 22% in 2013. Freddie Mac expects residential sales to climb 8% this year as mortgage rates remain below 4%. Also said was home prices could increase between 2 and 3 percent this year. I think this upbeat look on the housing market can also be seen here in The Columbia River Gorge. Builders are busy right now and lots are selling! I predict with interest rates staying low and continue improvement in the economy we will see a slight increase in home values and predict we will have more residential sales this year compared to 2012.

Hood River Real Estate Market Watch

by Don Nunamaker, Realtors

Happy New Year! December was a relatively slow month for real estate sales. However 2012 overall for real estate was a good year! In Hood River County there were 61 more home sales in 2012 than in 2011, a 38.6% increase! Many people expect 2013 to be an even better year for the housing market. Buyers are coming back out after the holidays, and there is demand for more inventory. If you have been thinking of selling, now may good time,   competition is low. If you have any questions or would like specific information on a listing, please feel free to give us a call.  We are here as your Real Estate Resource.

Preparing for Winter

by Don Nunamaker, Realtors

Today is the last day of the year and as I look out my window of our office located in Hood River, OR it is snowing! If you haven’t started winterizing your house, now is better than never.  A couple of tips to keep costs down in the winter months: Check your heating system. Check your filter if you haven’t replaced it in awhile your furnace may not be running as efficiently as possible. Make sure your gutters are clean. With the snow falling it is good to have the gutters clean so when the snow melts it drains properly away from your foundation. Check for leaky drafts around doorways or windows. These are just a few tips. Hope you have a Happy New Year!

Displaying blog entries 1-10 of 54