Sometimes homeowners think that they can sell their home as easily as they are selling a car or boat. They think by selling their own home, they can save the typical commission paid to a real estate agent. Unfortunately, selling a home is a little more complicated and can end up costing you more than the commission paid to an agent.

For Sale By Owner Issues

Here are just a few of the problems you may run into if you try to sell your home without the help of an agent:

• If you try to sell your house on your own, it will sit on the market longer than a house in the same neighborhood listed with a realtor. This is because realtors have the ability to list a home in multiple locations (the NMLS number on realtors’ websites and professional sites stands for National Multiple Listings Service license that allows them to list a house on sites other than the agent’s such as Zillow and other sites). Realtor’s also have a team of marketers, advertisers, and a host of support staff to make sure your home has high visibility.
• The home owner CAN purchase a MLS license for their home, but the cash will come out of their own pocket instead of free when using an agent. The seller is also going to have additional hidden costs such as paying for signs, flyers, photos, an attorney, home inspection, and home warranty (the last three required in some states when not using an agent).
• For Sale By Owner Houses sell for less than agent listed homes. This is due to several factors. First, there are a lot of factors that go into calculating market value and the average person not in real estate is not going to understand how to read market reports to select a price. Second, marketing a house is time consuming. Finally, if the seller sells to a friend or family member, they will often accept less for the home than they would from a stranger because they want to “cut a deal”.
• If the buyer requests an inspection and the seller doesn’t understand codes, he or she could end up paying for repairs that are really the responsibility of the buyer if the inspector lists “code” violations.
• Real estate agents are less likely to show their clients For Sale By Owner homes because there is no incentive for them to negotiate a deal.
• Legal paperwork- lots of it! If you sell on your own and do not live in one of the states that requires you to hire a lawyer, you will have to find and fill out the sales contract, property disclosures, occupancy agreements, lead paint records, and more on your own. Although ready-made contracts exist, not all states accept them. Closing is not the time to find out that your contracts are not acceptable.
• Lawsuits. If you list a feature of your home incorrectly, forget to disclose something (lead paint), or if you renege on a deal that someone has already given you earnest money towards, you could find yourself sued.
• Other scams can harm the purchaser of a for sale by owner home. Fraudulent papers (appraisals, loan documentation), overpayment in the form of a bad check with a request for a refund, purchases through a fake attorney, or asking for personal information have become more common with advancements in technology.

All of the above issues boil down to one common theme: liability. If anything goes wrong during the sale process, from showing to closings, you alone are liable for false advertising, inadequate documentation, undervaluing your property, and not having the correct documents.

Selling your home through a Realtor solves all of these problems. They do all of the work for you and have staff, insurance, training, and all the resources needed to protect both you and the buyer. 

Buying a home should not be a game of “what ifs”. You should not have to worry about if the house has hidden dangers, if the owner is going to change their mind because they discover they have undersold themselves, if the documents you sign are legitimate, or if you find a problem with the house after closing.

There is one time when it may be a good idea to sell your home yourself: when you are a licensed real estate agent.

Most homebuyers dream of owning a home. But before you make the purchase, many steps need to be followed. One of them is the mortgage loan application. Buying a home is one of the biggest financial decisions an individual makes and involves numerous factors such as affordability, credit score, debt-to-income ratio, loan amount, property type, etc. There are various options for mortgage loans, and each borrower should carefully consider their options before taking a loan that suits their requirements best. Read on to understand how mortgage loans work and help you decide which loan option is ideal for you!

Preparing for a Mortgage Loan

You will first need to gather some basic information to obtain a mortgage loan. Preparing for a mortgage loan includes calculating your credit score, estimating your monthly payment, and understanding home financing rates.

Credit Score: A good credit score means you have a low risk of being unable to pay back the loan. Your lender will use this information when determining interest rates and other terms of the mortgage loan.

Estimating Monthly Payment: When figuring out how much money you will need to borrow each month for a down payment on a home, try to come up with an estimate closer to what you would be paying every month if you were purchasing the home outright.

Understanding Home Financing Rates: mortgage lenders will give you various interest rates for different loan types. It is essential to understand the rate you are being offered before deciding whether or not to take out the loan.

Understanding Different Types of Mortgage Loans

There are several types of mortgage loans, including:

• Conventional loans: These are not insured or guaranteed by the government and typically have stricter qualifications for borrowers.
• FHA loans: These are insured by the Federal Housing Administration and are often easier for first-time homebuyers to qualify for due to lower credit scores and down payment requirements.
• VA loans: These are guaranteed by the U.S. Department of Veterans Affairs and are available to eligible military veterans, active-duty service members, and their surviving spouses.
• USDA loans: These are designed to help low- to moderate-income borrowers in rural areas buy a home and are backed by the U.S. Department of Agriculture.
• Jumbo loans are conventional loans that exceed the maximum conforming loan limit set by the Federal Housing Finance Agency.
• Adjustable-rate mortgages (ARMs): These have an interest rate that can change over time based on market conditions.

The Mortgage Loan Application Process

The mortgage loan application process typically involves the following steps:

Gather financial information

This includes income statements, bank statements, and other financial documents demonstrating your ability to repay the loan. Most lenders will also require credit scores and a home equity loan appraisal.

Pre-approval

Contact a lender and provide your financial information to receive a pre-approval, which estimates the size of the loan you can afford based on your income, credit score, and other factors. In such cases, you may be required to provide additional documentation or meet certain requirements, such as a down payment.

Home Search

Use your pre-approval to guide your home search and find a property that meets your needs and fits your budget. As you explore potential homebuyers, ask about mortgage rates, fees, and closing costs. You may also want to speak with loan officers from different lender locations about their products and services.

Loan application

Submit a formal loan application to the lender and provide additional financial and personal information as required. Also, provide documentation of your income and credit score. Some lenders will allow you to apply online.

Processing

The lender will process your application, including a review of your credit report, an appraisal of the property, and a verification of your employment and income. They will also contact you to schedule a pre-approval visit. The loan process can take several weeks or even months, so be patient!

Approval/Denial

You will be informed if your loan application is approved or denied. The lender will provide you with the loan terms and conditions if approved. Once you have signed the loan documents, the lender will begin processing your mortgage loan.

Closing

If you accept the loan terms, you will attend a closing where you will sign the loan agreement and other closing documents and pay any closing costs. This includes taxes, insurance, and mortgage interest. You will be homeowners!

Final Thoughts

You need to understand that mortgage loan applications aren’t one-size-fits-all. Each loan application varies from borrower to borrower. You must prepare for the mortgage loan application process by gathering all the required documents and information. The mortgage loan application process may seem lengthy and tedious, but it ultimately makes it easier for you and your lender to manage the home loan approval process. At The Ellerbrake Group, we are the trusted real estate broker in O’Fallon, IL. Our team of experts are dedicated to providing you with the best customer service and suggestions for lenders. Bearing that in mind, don’t hesitate to contact us at 618-632-0001 today for a free consultation about your real estate options!

Are you looking to buy a home in 2023? These are 10 questions we are commonly asked. Knowing the answers will help you get the home you want without overspending.

 1.  What do I need to tell you to help you select homes for me to look at?

The first thing that we have you do is use our Finance Center to see your loan qualifications based on your credit score, and what the current interest rates are. There are many special programs for qualifying buyers who meet certain criteria (see below). Once you are prequalified, you can tell us any special wants you have, such as location, one or two story, or a fenced in yard, and we will work to find several homes that both meet your needs and fit in your budget. 

2.  Is an older or newer home better?

Each home has its advantages and disadvantages. Buying a newer home does not guarantee that you will not need a home inspection, as some new homes in large scale developments are built quickly and can be made with lower quality materials to keep the cost down.

3.  How long does it take to buy a home?

Buying a home can take several months. Factors to consider include the housing market where you are looking, if the current home owners have a deadline to move out, what turns up during the home inspection, how long it takes to get approved for the loan, and how quickly the seller accepts the offer you make. The time the final offer is approved until closing usually takes 30 days.

4.  What is the difference between a fixed and adjustable-rate mortgage?

Fixed rate mortgages have fixed interest rates for the length of the loan, usually 15 to 30 years. This allows you to budget a set amount each month for your mortgage. In an adjustable-rate mortgage, the interest rate fluctuates up and down quarterly depending on economic trends. The good news is, you can refinance a fixed rate mortgage once the rates go down. The house you want may not still be on the market when rates drop.

5.  Who can qualify for special loans? 

Loans are available for first time home buyers, military veterans, and rural homeowners.

6.  What kind of credit score do I need?

Lenders prefer a credit score of at least 620, but some will accept scores of 580 and lower.

7.  How much of a down payment do I need to bring to the closing?

Depending on what type of loan you are approved for, you will be expected to bring between 3 and 5% of the purchase price. USDA and VA loans do not require money down at closing.

8.  Why should I use a Realtor?

A Realtor is your personal shopper that will do all the leg work finding properties that meet your needs and help you communicate with the seller and their real estate agent. From your initial consultation all the way to closing, your Realtor will deal with all the paperwork, negotiations, and inspections. Best of all, there is no cost for you to hire a Realtor! He or she gets paid a percentage from the sale of the house from the agent that listed the house.

9.  Do I have to have a home inspection?

While most of the communities in our area require an occupancy inspection before closing, a home inspection is not required. However, the few hundred dollars you spend on a home inspection can save you thousands is much more in depth and can save you thousands of dollars in repairs after closing if there is broken, malfunctioning, or unsafe appliances such as a water heater or HVAC system, pipes, or electrical wiring in the home.

10.  What happens at the closing?

Closing is the time when the buyer, seller, both real estate agents, lawyers, a representative from the title company, and if needed, the lender or a bank representative meet for the signing of all of the papers and you will receive the keys to your new house. This is also when you will pay your 3-5% down payment and any closing costs of 2-7% of the closing price, so bring your checkbook (no cashier’s checks necessary) and be ready to pay Because there will be a lot of people juggling schedules to be there, make sure any issues that were found during the home inspection were fixed. This is NOT the time to report issues! You also need to make sure ahead of time that there are no liens against property you currently own (this can happen without your knowledge if you have a custom build or renovations done without a contract that a contractor did not pay the supplier for materials). Make sure to bring a state issued ID (the title and mortgage will have your name listed this way) and proof of home owner’s insurance.

A major component of any new home purchase is the inspection. It may be tempting to save a few dollars (some inspections cost under $100) and skip the home inspection, but skipping the home inspection may cost more in the long run-like when the roof leaks the first time it rains or the hot water heater springs a leak because it is rusted- and you’re stuck with thousands of dollars in repairs. It is important to note that while a home inspection is not required, an occupancy inspection is required in many areas, especially areas with older homes.

The occupancy inspection is a quick 30-minute inspection by the municipality’s code enforcement department looking for major safety issues, such as GFCI outlets not being installed near water sources, cracked sidewalks, broken windows, mold, smoke detectors and carbon monoxide detectors (Illinois now requires 10-year smoke detectors be installed effective January 1, 2023), handrails, and peeling paint. Deficiencies in these areas must be corrected by the seller at his or her expense before the sale can happen.

A home inspection, on the other hand, is requested and paid for by the buyer and is much more detailed. A home inspection usually takes between one and three hours and is an inspection from roof to foundation only looking for repair issues that can easily be seen, such as electrical outlets and lights not working, HVAC systems and appliances that do not work properly, leaky pipes and faucets, a wet crawl space, basement, or other foundation issues. For example, if the inspector flips a light switch and the light doesn’t work, he or she is not going to know if it is the lightbulb or the wiring, he or she will just mark on the inspection “light does not work when switch is flipped”. The inspector will not move furniture to take things apart to look for problems.

It is your right as a home buyer to request a home inspection. Likewise, the seller has the right to sell the home “as-is”.

A home inspection DOES NOT include the flooring (unless there are tears in the carpet that can be a tripping hazard or the floors are uneven), old appliances, or paint color.

In the early part of 2022, home sellers were waving contingency to get an inspection because they could choose from multiple buyers without having to make any repairs. Because VA and FHA lenders require an appraisal calling out safety issues before issuing a loan, an additional inspection is not necessary.

In general, there are three major reasons why people skip the home inspection. In a seller’s market, buyers who do not ask for an inspection have an advantage over the other buyers. Second, some buyers mistakenly think that because the house was just built or is not very old that it will not have any problems. Finally, some buyers think they can’t afford the inspection, and end up paying more in repairs after they have closed.

Sometimes, the seller will pay for a pre-inspection. This is more likely to happen in a buyer’s market to eliminate the time used for an inspection contingency.

Your real estate agent can provide you with a list of three home inspectors if you do not already have one. He or she will not make the selection for you. In Illinois, the home inspector is required to be licensed. Once you have decided to get an inspection, there is only a 30-day window in which the entire process, from the time the contract is signed and the response is sent to the seller. The inspector will also need to be paid before the report is given to your agent to deliver to the seller. 

Once you select an inspector, choose the first available date when you can go to the house at the end of the inspection (you do not need to be there for the whole inspection but it is recommended to have the inspector go over all of the findings with you). It generally takes 20 days to get the inspection and turn over the results to the seller, then the last 10 days for the seller to communicate if he or she will fix or replace the issues found or tell you “oh well”. 

If the seller agrees to make the repairs, make sure they are completed and you are satisfied with the job before you close the sale. If the seller goes with the last option, you can then ask your agent to negotiate for a lower sale price to cover the cost of the repairs that need to be done.

A home is a large investment. A home inspection is a smart investment to make sure you are getting what you paid for.

When reading articles on how to get the most money when selling your home, a tactic that is most often brought up is to increase the curb appeal. Curb appeal is about more than what color your house is or if your lawn is mowed. A few hundred dollars now could net you thousands of dollars at closing.

A major component of curb appeal is landscaping. Think of landscaping for your house. What the right jewelry can do for a little black dress or tie and pocket square for a conservative suit. Those accessories are what makes something with very little personality in a sea of likeness stand out from the crowd. So now, think about your plain house that looks just like every other house on your street. There are other houses on your street that have been for sale for some time. You wish you didn’t have to sell, but your job is transferring you out of town. How do you “dress up” your plain house and make it the first to sell? New landscaping!

New Landscaping in O’Fallon IL

New landscaping to sell your house with The Ellerbrake Group should not cost a lot of money. A few, small touch ups and upgrades, and simple maintenance will set your house apart from the others by highlighting unique features. Replacing traditional thick shrubs that cover the front of the house and have to be pruned every year with a simple garden of native flowers that don’t need watering during the hot summers will allow the entire neighborhood to enjoy the birds and bees that will stop by for a snack. Try to pick plants with blooms that complement the color of the house and draw attention to the trim colors if you have any. Make sure you leave a map with names of the plants somewhere in the house so the new owners know what they are if the tags get blown away or moved by wildlife rooting around. Replace any mulch you have with a thin layer of multi-colored rock that doesn’t have to be replaced each year and helps control water evaporation. Use retaining blocks or bricks that complement the color of the exterior of your house to make the beds stand out.

 If you have a unique feature on the side of your house such as bay windows, try framing the outside of the set of windows with a taller, flowering bush that can be enjoyed indoors as well as outdoors. 

Make sure any wood accessories, such as the fence, swing, or other outdoor furniture is clean, painted, and in good condition. Throw on some new cushions and put color coordinated pots of seasonal annual flowers around the sitting area.

If you have mature trees, make sure they are in good health and any dead branches are removed.  Many times, if there is a problem with a dead limb hanging over the house or branches of any kind touching the house, the buyer will ask to have you solve the problem before closing or take the cost of having it done themselves out of the sale price.

Water Features

If there are water features in your landscaping, make sure they are in excellent shape too. Make sure the water is cleared of any debris and if the fountain or filters don’t work, replace them and add a mosquito larvae control tablet to the water, available at any home repair store. Make sure all outdoor water faucets are leak free and if you are leaving hoses and attachments, that they are leak free also. If you use an irrigation system, make sure it is working and the new owners know where the lines run in the yard, as well as how often you would run it.

Keeping Safety In Mind

Another important consideration in your landscaping for curb appeal is if it is safe. Paving stones can become coated with moss and mildew, making them slippery, increasing risks for falling. If outdoor lighting along sidewalks and driveways is minimal or non-existent, install a few solar lights in key locations, such as the apron of the driveway, the main sidewalk to the front of the house, and at the base of any stairs leading into the house or patio.

Even if you are not moving, having a unique sense of curb appeal will lead to your neighbors taking more pride in their landscaping. Many communities offer awards to homes with the best landscaped yards during the spring and summer, as well as offer tours of yards that their owners have taken extra pride in with unique arrangements and combinations of greenery, flowering plants, and hardscaping. A well landscaped, low maintenance yard is also more enjoyable all year long.

If you ask your real estate agent for advice on the best time to sell a house, you are likely to hear them say, “sell in the spring and the summer months.” The St. Louis area real estate market doubles its sales volume from winter to summer. The sales volume at different times of the year is vastly different.

In most cities, summer tends to see more homes being sold than winter. Some people believe that summer is the best season to sell or buy, but this is not always true. A townhouse downtown may sell easily in winter while a property with five acres with horses might have difficulty selling. It all depends on the particular circumstances of each deal.

This article is not meant to convince you to buy a winter home or to suggest that this is a good time to buy. It’s meant to help you evaluate your situation and decide what is best for you. Be objective as we discuss the pros and cons to buying a winter home. We want you to truly understand the benefits and costs.

This information may change depending on where you live, but for those of us in the Midwest, we experience all of the seasons. You will notice a significant decrease in winter sales volume if you live in an area with heavy snowfall. States like Florida, which receive little snow in winter months, may experience a rise in home sales during the winter months. Our market in St. Louis sells half the homes during Winter.

The Pros:

PRO #1: SELLERS WANT TO SELL

Most Realtors recommend that you wait until spring to sell your house. If the seller is listing in Winter, it’s possible that they need to sell their home soon.

Negotiations can be easier when you buy a Winter house. This doesn’t mean that you can offer the lowest price, but it does mean that you have more leverage if the seller has not acquired multiple offers.

PRO #2: LOWER COMPETITION

It’s less likely that buyers will be looking at homes in winter so you won’t have to compete as hard during the winter months. There is less pressure to view a property on the day it goes on the market.

You may be able to take your time, and not rush to make an offer.

PRO #3: MORE ATTENTION FROM THE REALTOR

Real estate professionals often have slower times in Winter because there are fewer buyers. Real estate agents are often overwhelmed by house hunting inquiries during the peak season. It can be difficult to get the best service from a Realtor who is busy in the middle of summer.

Winter months are easier for real estate professionals. This means that you will likely get more attention and one on one advising.

PRO #4: MEDIAN SALES PRICE CAN BE LOWER

Higher prices are a result of increased competition. At the peak of the summer market, bidding wars and multiple contracts are common. If there is less competition, you may pay less to buy a winter home.

PRO #5: EASIER TO HIRE GENERAL CONTRACTORS

Many homeowners who purchase older homes intend to remodel them. You will need to hire an aggressive contractor if you want to remodel your home before you move in. Contractors can be difficult to find, especially in the St. Louis region.

You’ll have a better chance of buying a house and remodeling it during the winter months, when contractors are less busy. Winter may be a good time to remodel your home.

PRO #6: LESS CRAZY MARKET CONDITIONS

The real estate market can get crazy with the increase in homes on sale from winter to spring. Buyers might decide to sign appraisal clauses and inspection contingencies that waive their rights.

Buyers need to be able to move quickly when the market is moving fast. Buyers may have to give up the luxury of a home inspection. It can feel chaotic and out of control when the process moves too quickly. This is why some buyers wait until winter to purchase a home.

The Cons:

CON #1: CERTAIN ITEMS ARE HARD TO INSPECT

The number one problem with buying a winter home is the difficulty of inspecting the exterior. It’s almost impossible to assess the roof’s condition if there’s been a snowstorm.

Because of the hail damage caused by hail storms, roof repairs are the most common item inspectors find in St. Louis. Air Conditioning Inspectors are unable to test and run the outside units in cold conditions, so it is hard to inspect the air conditioning unit.

CON #2: FEWER HOUSES ARE ON THE MARKET

Winter has half the number of homes for sale than summer. Winter is a less popular time to find a unique home.

If you have specific search criteria that are difficult to meet, it’s twice as likely that you will find the unique property you want when the listing inventory doubles during the summer months.

CON #3: IT IS HARD TO MOVE

Moving in winter is hard enough, let’s face the facts! It can be difficult to move in the winter, especially in snow storms or when it is poor weather.

It’s very difficult to have movers move boxes into and out of your home when it’s freezing outside. The snow will eventually get into everything and melt inside the house.

Some people prefer to wait for spring because of the hassle involved in moving and dealing with snow, especially in snowy regions.

CON #4: LANDSCAPING EVALUATION IS HARD

If your last house was purchased in November. The landscaping was still barren during the winter months.  When Spring comes you may be surprised at the quality of the landscaping.

Also, trees that looked dormant during the winter may actually be dead when spring arrives. When you’re deep in winter, it is almost impossible to predict what landscaping will look like around your home in summer.

CON #5 – LESS DAYLIGHT FOR SHOWINGS

The St. Louis area begins to get dark after the fall daylight savings time change. This happens around 5:30 p.m. It is much more difficult to view homes at night because of this challenge.

It will be light in the summer months until about 9:00 p.m. In winter, the lack of daylight can cause problems with your schedule.

CON #6: CHANGING MID-TERM SCHOOL CAN BE HARD FOR KIDS

Moving schools halfway through the school year can cause major disruptions for families with children. This is why there are more summer homes that are sold when children are not in school.

The school year schedule has a significant impact on the real estate market in the United States. It also significantly increases summer sales.

Last Thoughts

Finding a realtor that you trust and feel comfortable with is the best advice I can give to any home buyer. The Ellerbrake Group will work with you to understand your needs and help you create a plan of action.

A great Realtor will help you understand all of your options and advocate for your best interests.

1.  Roof Damage

The roof is one of the most important components that an inspector will inspect during a home inspection. It’s also one of the most essential parts of your house. A list of potential problems that could arise from a roof leak can cause buyers to pull out of a deal. This can lead to costly repairs.

Your roof’s condition will depend on many factors. Your roof will need more attention if you live in harsher climates than those in milder areas.

These are the things that an inspector will be looking for when inspecting a roof:

1. Sagging – When the joists in your home become weak and are unable to hold the roof in its place, this is called sagging. Poor drainage or large amounts of snow can worsen this problem.
2. The overall condition of the roof sheathing, especially in areas surrounding chimneys or other roof penetrations.  Leakage can be identified by looking deeper into your attic.

Two ways an inspector can assess your roof are available. The inspector will inspect your roof if it is possible and if it is safe to do so, they will take a walk on the roof in order to assess its condition.

They will then enter your attic. They can inspect the attic to find any leaks that may have occurred in the past or present. You will also notice signs of roof sagging, spreading, or twisting of the wood framing in the rafters.

Feel free to call The Ellerbrake Group for a list of trusted contractors that can perform these detailed inspections.

2.  Electrical Issues

Electrical wiring issues are responsible for many home fires every year. The electrical system is an important component of home inspection. Newly built homes will have very few electrical problems. Older homes that have faulty wiring are more susceptible to fire.

These are some of the most common issues that an inspector will discover with electrical wiring:

Fraying and exposed wiring

Overheating can be caused by painted outlets. These are common in properties that were once rented.

Reversed Polarity – This means that the hot, neutral and ground slots of plugs have somehow been mixed.

Aluminum wiring – Aluminum wiring was more economical than copper wiring in late ’60s or early ’70s. However, it can also contribute to the possibility of a fire in your house.

Incorrect modification of electrical panels can lead to flickering lights, or switches and outlets not functioning correctly.

Missing knockouts or missing rectangular shapes in a panel

An inspector will inspect your home for any problems with your outlets and electrical panels, as well as your light fixtures and the wiring. They will also include suggestions for updating the system if they feel it is necessary. If they feel that a particular area needs to be addressed prior to move-in they will indicate it.

Some electrical repairs will not cost much. It can cost as much as $30,000 to rewire your entire house in some areas.

3. HVAC Service

The HVAC system in your home consumes almost half the energy used in your home. Your HVAC system works hard each year to maintain your home’s climate control. It will eventually need to be serviced on a routine schedule. Many people neglect to service their HVAC systems annually, which can lead to problems during a home inspection.

An average home inspector won’t do a thorough inspection of the furnace or AC. It is a good idea to hire an HVAC specialist to inspect your HVAC system if it is more than ten years old. This will allow you to determine the remaining lifespan of the unit as well as project future repair costs.

Here are some common HVAC problems:

Most common problem: Dirty filters

Unlevel Pad

Improper Flue Installation

Dirty Coils

Broken Condenser

Cracked Heat Exchange

4.  Plumbing Problems

Home inspection reports often include plumbing issues. Plumbing problems can be very common in a home and quite costly. Most plumbing problems are not apparent to homeowners until they are inspected.

Usually, an inspector will inspect your plumbing for the following:

How water flows from your taps efficiently

How well your drains function

And whether your toilets flush.

Although a home inspector won’t be as thorough as a professional plumber, they can give you a general overview of any issues that may need to be addressed when you move in, if any.

They may recommend professional plumbing inspections if they feel there is a greater problem. You can rest assured that most plumbing problems found in a home inspection are minor.

5.  Water Damage

Water damage is difficult to spot. This issue can be difficult to identify, but inspectors have the training and experience to resolve it.

The roof is often the first place where water leaks and it will move downwards. When inspecting for water damage, inspectors will typically start at the roof. Here are some signs that water damage has occurred:

1. Cracks, holes – Water can easily enter your home through cracks or holes in exterior walls.
2. Damp floors and carpets
3. Stain on walls and ceilings– Inspectors will still look for mold growth, even if there is an old leak that has been fixed.
4. Peeling wallpaper – This could indicate a leak behind your walls.
5. Musty odors This can indicate mold buildup and is often caused by water leaks.

Water intrusion can be caused by small leaks. However, your inspection report will detail the extent of the problem. It will also explain what steps you should take to remedy the situation, if necessary.

Another common source of water damage could be due to the sump pump backing up or the sewer line backing up.  The Sump Pump is important to test and make sure that it is functioning properly.  If there is an access point to the sewer line, it may not be a bad idea to have a licensed professional plumber come out and put a camera down the sewer line in order to identify possible issues that could cause water to back up.

There are many issues that can pop up during a home inspection report, so be prepared to contact service specific contractors if you are selling your home so that the proper work can be completed before any inspections even need to be completed.  Many of these service base businesses exist in the area, but feel free to give The Ellerbrake Group a call if you are interested in working with someone we have used frequently in the past.

Buyers are searching for homes with a modern, sleek aesthetic and lots of natural light. These are some of the requirements for many older homes.

It is important to reduce costs and avoid major renovations that will have a low rate of return. It is important to be functional, not extravagant in the kitchen or bathroom.

It is important to remember that the more you invest in renovating an area, the less it will return on your ROI depending on the type of materials used.

Here are 7 options for improving the value of your home:

1. Remodel Your Bathroom

To add value to your house, a bathroom remodel does not have to be extensive. You can make your bathroom more functional by updating the flooring, fixtures, toilet and lighting. This will allow you to get back most of what you have spent.

Many master bedrooms include en-suite bathrooms. The master bathroom is the most return-friendly of all the bathrooms. You may want to remodel your master bathroom if it is not connected to your master bedroom. This will instantly increase the value of your home.

You can increase the value of your home by replacing old light fixtures, countertops and cabinets. Bathrooms are second in return on investment after kitchens.

To increase your home’s value, upgrade it.

2. Modernizing The Kitchen

Your kitchen is one of the most important home renovations. Before they visit a house, buyers often first look at the kitchen. Buyers want a kitchen that has been updated before they move in so that they don’t need to remodel.

A small kitchen remodel can bring in a good portion of your investment, but a larger remodel might only make up half the difference. When replacing your kitchen, be strategic.

Remodeling a kitchen is possible in many ways. It doesn’t matter if you are focusing on changing the light fixtures or adding a new layer of paint. Be careful when installing granite countertops and new cabinets, these can be the most expensive part of a kitchen remodel.

A minor kitchen remodel will typically recoup more than major renovations. You can make some of the most important updates to your kitchen by replacing the flooring and installing a new faucet and stainless steel sink. If you have solid wood cabinets, you may consider refinishing them instead of installing new ones.

3. Replace Your Old Carpet

Old and stained carpet can be a problem for home buyers. It is easy to have your home look new by replacing the carpet.

Hardwood flooring is more expensive than carpet. Although carpet isn’t as durable as hardwood, it is easier to replace. We recommend that you replace carpet that is older than three to four years.

4. Refinishing or Installing Hardwood Floors

Hardwood floors are a very popular choice. Wood flooring is a popular choice for homes that have been around for many years. It continues to add value to homes.

Hardwood flooring is a great investment for pets, if the current carpeting is a bit stained or shabby. Hardwood floors can be refinished for a fraction of the cost to completely replace them.

5. Use a neutral paint for your walls

It is easy to increase the value of your home by painting rooms. Paint is an inexpensive upgrade that homeowners can do themselves.

Choose lighter and more neutral colors that appeal to a wider range of buyers. This allows buyers to easily imagine bringing their belongings and furniture into the home, without them clashing.

The addition of paint to a room can make it feel brighter and more open. If you have walls that are painted in neutral colors, assess if your moldings, trim, and windows require a new coat of paint as well.

6. Create An Open Floor Plan

Many older homes have closed floor plans which compartmentalize space. This design was very popular in the past, but it is now a rare trend.

A home will feel larger and more spacious if unnecessary interior walls are removed. Extra support pillars and beams may be required for load-bearing walls, but the many interior walls can be moved or removed.

Open floor plans are more flexible in design and decoration. Open floor plans allow for more natural light to enter. Designers favor open-plan designs, such as the living and dining rooms, kitchens, and living spaces.

Remember that your home needs structural support. You could have a cracked ceiling or sagging ceiling if you choose the wrong wall. Before you start hammering away with a sledgehammer, consult a professional. Understanding the structural integrity of your house is essential before you attempt to remove walls.  Give The Ellerbrake Group a call if you need any suggestions for good home remodeling professionals.

This type of project is difficult to value because results will vary depending on the layout of your home. This is a great way to instantly add value to your home.

7. Finish the Basement

Unfinished basements can be finished to increase the square footage and value of your house. A finished basement can provide a decent return on your investment depending on how expensive the materials are.

A basement remodel in St Louis MO can turn an unused area into a home theater, an additional living space, or even an office. These improvements can make your home more expensive than it would be without the extra square footage.

Before you start to remodel your basement, there are many things you should consider. This type of project often involves flooring, drywall, painting, and adding light fixtures.

Before you decide what to do in your basement, consider where the light comes from. Natural light should be allowed to enter rooms as often as possible.

Because of lingering dampness, basements can be a natural breeding ground for mold. It is important to think about how to best allow airflow and prevent moisture buildup in isolated areas.

Many of these home improvement options can help to improve the marketability of your home.  You have to determine what steps will yield the best return on investment for you and your family.  We suggest that you set aside a budget for upgrades, cleaning, and improvements and start with the easier tasks that you can take care of on your own.

When you are showing a house to potential buyers, first impressions matter the most. It is difficult to get a client’s house ready to sell. It is important to make the house look new and attractive enough to attract potential buyers. If you are looking to sell your home quickly and for top dollar, a thorough cleaning is essential.

The importance of cleaning, painting, and fixing things can not be overlooked when looking to sell a house. Cleaning the home is an inexpensive and essential step to prepare the house for sale. It is more than just a matter of removing all the dirt and dust from your home. Professionals spend more time and energy cleaning homes, paying greater attention to details. No matter how many times homeowners clean up their homes, a house on the market will require more thorough and intensive cleaning to make it shine.

Professional cleaning services make it easy to make your home shine.

The cleaning services ensure that the home is clean and free of dirt, dust, or other unpleasant odors. They will also inspect homes for discolored surfaces, stained carpets and smudged appliances to ensure they are ready for extreme inspection.

Agents have seen the value of professional cleaning services in real estate. Here are some reasons The Ellerbrake Group recommends a professional cleaning service before you put your home up for sale:

1. A professional cleaning service can help you make a good first impression. This is a great way to present the best image of your home so we can better market your property to potential buyers.It is important not to place anything that distracts or stands out from the potential of the home. It’s much easier to convince clients that this is the right home once they feel at ease in the space.Buyers who can’t visualize living in a home will not be able to pull the trigger on purchasing it. Clients often visualize themselves living in the home before they buy it.Agents can also help to ease the stress associated with buying a house.You can offer a deep cleaning for free to new homeowners as an incentive, but it is more beneficial to clean the house before you put it up for sale.Clients are more likely to avoid homes that look dirty compared to ones that look shiny and new. Experienced agents know this, and can recommend professional cleaning services to help them sell their home for a higher price.
2. You shouldn’t waste your time cleaning up a house yourself when you could be marketing it. Professional cleaning services can help you focus your efforts on marketing and less on the property’s appearance.A cleaning service can also save you time so that you can focus on other aspects of the sale, such as arranging viewings and open houses or talking with your agent.It is important to focus your efforts on achieving results and not trying to cut corners.For example, Let’s say you live in Belleville IL and decide to clean your house yourself, but the house down the street decides to hire a professional cleaning service in Belleville IL.  The professional cleaning crew knows the business better than your average home owner, and they will find things that you may miss.  No matter how many times a client cleans, there will always still be things that need fixing or changing out in order to prepare a home.  Set your home above the rest by ensuring that you avoid cutting corners!With a buyer’s eye, walk through the house. Note upgrades, defects, and areas for improvement. Sometimes we give our clients a list of things to do to make their home “show-ready”.

   It is worth the effort, despite its time-consuming nature. Agents come in to take professional photos of a property once it is ready. Bad images can deter many potential buyers.

3. The world is now facing the effects of the novel coronavirus. This has led to a greater need for cleanliness. Clients, agents, and future homeowners will feel at ease if they hire a professional cleaner to do a deep clean before showing.It is now more important than ever to clean your home.Because of the pandemic many showings can now be done online. Small dirt particles might not be easy to spot if buyers are looking at a screen. Agents can help buyers feel confident that all surfaces have been cleaned and wiped clean with the appropriate chemicals by professionals.

Many homeowners feel tempted to save money and clean their own homes. While this may sound like a great idea, once the cleaning begins, it will most likely be a time consuming process, and you may wish that you went with a professional soon after starting.

Agents agree that it can be stressful to prepare a home. They often suggest clients to leave the work to professionals so that they can have a better experience selling their home.

It is important to make a good first impression. A crack in the wall or stained carpet can turn a buyer away, even if they are assured that everything will be fine before they move in.

Every market’s real estate agents agree that thorough cleaning is more important than ever, especially with the COVID-19 pandemic. Professionals should clean the surfaces so potential buyers feel comfortable when they first enter the house. In this business, first impressions are more important than you might think. Don’t risk losing a buyer. Before potential buyers see the house, hire a professional cleaner.

You may be curious about how much money you will need for your down payment if you are thinking of purchasing a home in the next year. It could be 20% of the mortgage loan. Qualified buyers can choose to pay 20% or less, but it is important to know that a higher down payment can also have many benefits.

There are many programs that will allow you to make a down payment as low as 3.5%. This can be huge for those who want to buy a home sooner than expected. Veterans who have served their country may be eligible for a Veterans Affairs Home Loan (VA), which may not require a down payment. Many potential buyers have been able to save more time and start building their family wealth earlier thanks to these programs.

These are the top four reasons 20% down can be a great plan, if you have the funds.

1. The interest rate you receive may be lower.

Your lender will appreciate a 20% down payment instead of a 3-5% down payment. This shows that you are financially more stable and less risky. Your lender will likely offer a lower mortgage interest rate if they are more confident in your credit score, and your ability to repay the loan.

2. Your home will cost you less.

Your mortgage loan amount will be smaller if you have a larger down payment. You will only be charged interest on the amount you finance.  If you can pay 20% at the beginning of the transaction you will only have to finance 80% of the new home’s cost. If you decide to only put down 5% at the beginning, the additional 15%, which you will pay interest on over time, will be added to the loan if you deposit 5%. This will increase the cost of your home loan over its lifetime.

3. Your offer will be noticed in a highly competitive marketplace.

Sellers like offers that include 20% down payment in a market with many potential buyers. In this situation, the seller is given the same level of confidence as the lender. With financing that is more likely to be approved, you are perceived as a stronger buyer. The deal is more likely to close.

4. Private Mortgage Insurance (PMI), which you need for down payments less than 20%, is not required.

What is PMI? According to Investopedia:

“PMI is a type of mortgage insurance that buyers are typically required to pay for a conventional loan when they make a down payment that is less than 20% of the home’s purchase price. Many lenders offer low down payment programs, allowing you to put down as little as 3%. The cost of that flexibility is PMI, which protects the lender’s investment in case you fail to repay your mortgage, known as default. In other words, PMI insures the lender, not you.”

Your lender will consider your loan more risky if you pay less than 20% down when you buy a home. PMI is a protection that helps your lender recover their investment in the event you are unable to repay your loan. If you can put down 20% or more, this insurance is not required.

Home sellers who want to buy a bigger or more expensive house are often able to use the equity from their sale to purchase 20% of the next property. It is possible to use the equity that homeowners have today to save 20% on your down payment for a new home.

Consider the advantages of 20% down when you are looking to purchase your first home.

Bottom line

Reach out to trusted professionals if you are thinking about buying a house and have already saved for your down payment. They can help you determine what is most compatible with your long-term goals.

Curb appeal is a phrase that a majority of people have heard of if they’ve read anything about home ownership or renovations. Curb appeal is the appearance of your home when seen from the street.

Since it’s the first impression that will be created about your house, curb appeal is one of the most effective places to earn a profit. It establishes the tone for the inside.  The Ellerbrake Group can help you find the right contractors to help improve your curb appeal.

There are numerous ways to enhance the curb appeal of your home.

1. Design and landscape the Front Yard

The most well-known landscaping method is to plant a garden. It’s the best method to boost curb appeal. The majority of agents believe that curb appeal is an important element in increasing your property’s value and making it easier to sell your home quickly. This is especially true for landscaping. Buyers will be impressed by the fact that your home is well-maintained.

Landscaping your property requires maintaining it neat pruning trees and shrubs as well as mulching and planting annuals or perennials. Be cautious not to remove too much of the vegetation.

A lot of homeowners don’t want to spend long hours maintaining their gardens. This can make it difficult for potential buyers to purchase your garden if they require maintenance every week.

It is recommended to choose plants and shrubs that are simple to care for. Zero-scaping is a good option in climates that are dry, in which water is in short supply. The plants that require minimal maintenance and are easy to cultivate every year are the most effective. It is important to select the right clothes for the area you live in.

One important aspect to consider when it comes to landscaping is to think about the year-round interest. It is important to choose plants that look vibrant all through the year. The plants that thrive during spring and summer may however look like dead twigs in winter and fall and will leave your garden looking bare.

2. Garage Door Replacement

You can recover the bulk of the garage door replacement costs by changing it to a more modern model. This is particularly applicable to homes with older garage doors. Modern garage doors can make a home appear years newer.

It is important to look for sturdy materials when you are shopping for garage door replacement. These include steel, aluminum and wood composites. If you choose, you may add insulation as well as an energy-efficient glaze if your garage is connected to the house.

A designer might assist you to choose the best door. Simple options can be more effective and bold choices can be distracting. Designers will complement the style of your home with distinctive garage doors that stand out and add to the curb appeal.

3. Stone Veneer On Exterior

A stone veneer will help your home’s exterior walls look more attractive. It can provide an excellent return on your investment. Stone homes are superior exterior design options than stucco siding.

The veneer is of high-quality and looks like real stone, however it is less to set up. It can be cut by using molds, and is man made. It is very simple to work with. It is an excellent way to make an old house appear better.

For a higher cost-to-value ratio, you don’t have to build a stone structure for the whole house. It is easy to add stone to smaller areas and get an impressive return on your investment. Stone can be erected on the beams that support your porch’s front. It is possible to install stones to the lower portion of your vinyl siding , instead of the entire wall.

This project can allow you to restore the spirit to an old-fashioned exterior.

4. Steel-Entry Front Doors

The replacement of the front door is an excellent method to boost your property’s value while saving money. When you walk into a home, the front door is usually the first thing that you will see. It’s the first thing you will touch upon entering a house.

It’s an excellent idea to choose an eye-catching, bright color to stand out from the exterior. Red is the most sought-after color for front doors on new homes.

Doors made of steel are sought-after because they offer significant benefits in terms of security as well as energy efficiency. They are perfect to keep cold temperatures out when you live in a more temperate climate.

5. Install a porch or a deck

A deck or patio adds value to your home and makes it more attractive. The porch in front is the place where memories are created. It can also help to increase the appeal to the house.

A contractor should be able to construct an outdoor deck or porch that is free of wood decay. Composite decking is the best choice in the majority of cases because it isn’t susceptible to rot and doesn’t need staining or painting.

Stamped concrete is an excellent alternative if you plan to build an outdoor patio. Stamped concrete can be used to add decorative finishing to your patio to replicate the look of tile or stone. Stamped concrete, a modern method of finishing, gives a stunning appearance that is extremely popular with homeowners.

6. Update or install new windows

It is possible to change windows that appear old or are beginning to degrade due to water damage. This is particularly true in homes that are located near areas of high traffic. The noise from outside will be reduced through the installation of new windows. This will make your home appear more spacious and help with sound reduction.

Vinyl windows are inexpensive and offer great energy efficiency for people with limited funds. Some people select windows that do not match with the siding they have. This can cause your remodeling to be a disaster and turn off prospective buyers. To get the best results you should consult a window expert.

Older homes are less insulated and have fewer windows. To allow more sunlight into your home, you could consider installing larger windows. While it may be more costly, it can make your home appear brighter and boost the value of your home.

7. Refresh Exterior Paint

Contrary to what many people believe, there is no need to completely redecorate your home to look new.

It is possible to focus on areas with more chipping and flaking paint if you’re on a tight budget. These areas can be cleaned with pressure prior to painting. This removes any dust or mold.

After you’ve cleaned and removed any old paint from the outside, choose the color that is similar to the current shade. You can also apply a coat of paint to any rough areas. Paint the trim and doors to the front. It can instantly change the appearance and feel of your home without much effort.

8. Plant a Tree

It is possible to plant trees if you’ve completed your landscaping , and your front yard is getting enough sun.  This is a good long-term investment for those who plan to remain in your house for a long time before selling.

It can take time for trees that provide shade to grow.  Once they have matured, they will cut cooling costs by as much as 35%.

Shade trees are beneficial to the natural environment. They provide habitat for native wildlife. The beautiful songbirds’ songs will be heard , and the curb appeal of your property will improve.