Blog Archives - Blueprint Realty, Inc.

Preventing Frozen Pipes

Property owners must be aware of cold temperatures and the hazards it can create. One expensive problem is frozen pipes. The following are several ideas to help with Preventing Frozen Pipes.

Cause of Bursting Pipes

Within pipes, freezing could form a blockage. Water expands as it freezes. You may have noticed this with items placed in your freezer. The blockage will form increased pressure in the pipe while it develops. Pipes do not necessarily erupt at the location of the blockage. It may occur further down the line, normally at your faucets. It may happen within walls or even within kitchens and baths.

Preventing Frozen Pipes

Pipes run through many different parts of your property. There are separate preventative measures depending on the location of the pipes..

Outdoor Faucets

For pipes that go to outdoors, such as ones connected to your hose connections, you can shut down the water source and bleed the lines. Because these will likely remain dormant through the winter, there is no need to hold liquid in the pipes connected to them.

Indoor Pipes

For other areas of your home, there are other alternatives. First, consider lining the pipes with a special material available at the hardware retailer. This is particularly useful for pipes in basements. Pipes within the finished area can also rupture. Try to keep your heat set to a minimal temperature even when you are away from home. A ruptured pipe will result in more expense than the cost of fuel.

Additional Suggestions for Subzero Temperatures

Extremely cold temperatures call for some additional measures. First and foremost, keep your heat set at normal temperatures throughout the day and night. Second, leave kitchen and bathroom cabinet doors ajar to allow warmth to quickly enter those spaces. Finally, you can allow your faucet to drip slightly. This prevents pressure build-up.

Simple Ways to Prevent Bursting Pipes Will Reduce Property Damage

Bursting pipes can result in a big mess for homeowners, particularly when it is undiscovered for an extended timeframe. It is definitely worth the expense and effort to proactively take care of the situation by considering these ideas to help with preventing frozen pipes. Be sure to check with your property insurance agent to double check that you are covered for issues like frozen pipes.

Contact Blueprint Realty, Inc. at (615) 538-8328 or hello@blueprintrealtytn.com for additional information.

Listing Your Home During the Holidays

The real estate market not only differs every year, but additionally from month to month. There are many misconceptions about selling a home during different seasons. The following is information on Listing Your Home During the Holidays.

Number of Listings

There is not as much competition during the the holiday season. Home buyers still have a need during the beginning of the new year, so the winter months are when they will find a property. Being one of the few properties for sale can give you an advantage.

Motivated Buyers

A previous survey by Realtor.com found that 79% of home buyers out during the holiday season were more serious. 61% consider less competition for homes to be a benefit. Additionally, potential buyers have extra time to view homes for sale during the holiday season. Relocating buyers also often use the time off to complete their search. Thus, it is possible to hear of properties going under contract on or around Christmas Day or New Years Eve.

Listing Your Home During the Holidays

If you are unsure about listing your property around the holiday season, consider the opportunities you may be missing from home buyers who really need to find a home and are visiting homes on the market. Sometimes it is better to be one of few options than to be one of an abundance of properties. There may be price and negotiation advantages when dealing with buyers who need a home and have few options to choose from. Home buyers purchase at all times of year, but the number of listings and number of buyers will change and impact prices.

For more information on Listing Your Home During the Holidays, contact Blueprint Realty, Inc. at (615) 538-8328 or hello@blueprintrealtytn.com.

Home Renovations That Increase Property Values

Homeowners should think about the possible improvement in property value versus the expense of individual changes before completing any work. Some alterations are more beneficial than others. The following is information on home renovations that increase property values.

Home Renovations That Increase Property Values

Many homeowners think that they will recoup the cost of a repair, or even more, in increased property values. This is a normal expectation, but unfortunately it is not usually what occurs. Different home changes result in different values, and that value may differ depending on the area. To get an overview on home renovations that increase property values, here are some national figures.

Average Increase in Value for Mid-Range Improvements

The figures below were obtained from the Remodeling Magazine Cost vs. Value Publication.

Renovation	Expense	Value Change	Percentage of Cost Regained
Replacing a Roof	$21,204	$12,257	57.8 %
Garage Door Update	$1,512	$1,087	71.9 %
Bathroom Remodel	$40,096	$20,455	51 %
Minor Kitchen Upgrade	$19,588	$14,120	72.1 %
Master Suite Addition	$106,196	$62,874	59.2 %

Identifying Home Renovations That Increase Property Values

Another factor influencing the value of repairs is the quality and scale. Kitchen renovations, for example, can be completed using different quality materials leading to a different return on investment. So, not only should you think about the type of improvement but also the quality.

Contact Blueprint Realty, Inc. at (615) 538-8328 or hello@blueprintrealtytn.com for additional information.

Ownership Relationships

When multiple parties purchase real estate together, they enter a legal agreement called a tenancy agreement. It details what will occur when one party becomes deceased. There are three categories of tenancy and each comes with different rights and stipulations. The following are details on the different types of ownership relationships for Franklin TN and Middle Tennessee area real estate.

Types Of Ownership Relationships

Tenancy in Common

Tenancy in common permits an owner to maintain their rights to real estate. It dictates that when one co-owner passes away, their interests shall be passed on to their estate. The inheritors thus take over the ownership in the real estate, essentially becoming a tenant in common with the remaining parties.

Joint Tenancy

In joint tenancy, when an co-owner dies, their percent ownership in the property is shared among the surviving co-owners. In cases with several other parties, each receives an equivalent distribution. There is usually added language for joint tenants outlining time, possession, title, and interest in the real estate. All parties take ownership simultaneously and by the same methods (i.e. will or deed). Additionally, each person gets an undivided interest in the property as a whole and not just specific components of it.

Tenants by the Entirety

This tenancy applies only to married individuals. In the event of the death of a spouse, ownership is inherited by the surviving spouse. This type of tenancy can only be ended by death, divorce or mutual agreement. One spouse may not give his or her interest to a third party, but can give it to the other spouse.

More On Types Of Ownership Relationships

It is important to understand the different types of ownership relationships for Franklin TN and Middle Tennessee area real estate. Each allows different rights to co-owners and heirs. If you are not sure about which tenancy relationship to select for your property ownership, contact an experienced attorney for advice.

For additional information on the types of ownership relationships for Franklin TN and Middle Tennessee area real estate, contact Blueprint Realty, Inc. at (615) 538-8328 or hello@blueprintrealtytn.com for additional information.

Winter Home Preparation

Autumn is a perfect time to address several property tasks including winter home preparation. Winter conditions can be harmful. These pre-winter property maintenance tasks will help prevent damage from winter conditions and improve its safety.

Pre-winter Property Maintenance Tasks

Improve Heat Retention

During winter months, it is vital to eliminate heat loss to lower heating expenses. Eliminate gaps along window frames and replace door seals as needed. There commonly are additional openings around different wires and pipes connected to your home.

Winterize Outdoor Pipes

Your property may have a few external water features such as an irrigation system and exterior faucets. These should be winterized to prevent freezing and damage in frigid temperatures. For faucets, turn off the source from the interior and empty any remaining water in the line. If you are not handy with irrigation systems, you should contact a professional to perform the winterization.

Inspect Exterior Features

The outside of a home often takes a beating during the winter. Repair any missing shingles on the roof before winter arrives. Look for gaps in the siding as this may allow in moisture. Unclog and repair gutters. Also think about extending downspouts to direct water away from your foundation. These are all important aspects of your home to review and complete during any maintenance period.

Fire Protection

As you heat your home during winter, you raise the probability of fire and CO poisoning. To reduce this danger, have heating sources inspected and cleaned every year. This includes fuel burning heating units, fireplaces, wood stoves, etc. Install smoke and CO detectors. Replace batteries and test them yearly. Additionally, make sure fire extinguishers dates are still good. These are all critical safety measures to complete annually.

More Ideas for Winter Home Preparation

There are many other items to consider during winter home preparation. Other than completing necessary repairs, it is advisable to store your equipment and furniture in a safe place shielded from the elements. Think about lawn mowers, lawn furniture, lighting, pots, and anything else that you may have. Any items damaged last winter should not be left out again this year. Take care of those areas now to reduce the likelihood of a repeat. Lastly, perform an equipment and supply check. Make sure your gas powered tools are in sufficient working order. Pull out shovels and winter gear. Hopefully these winter home preparation maintenance tasks will make the upcoming winter less stressful.

Contact Blueprint Realty, Inc. at (615) 538-8328 or hello@blueprintrealtytn.com for additional information.

Home Remodeling Trends

Home enhancements continue to change. It is helpful to understand trends to maximize your property’s value. Below are some tips on home remodeling trends.

Technology Components

Technology is ingrained in daily living. Keep this in mind when deciding on the floor plan and features of your home. All rooms should contain a wall that accommodates a flat screen TV. Install electric and cable outlets in optimal areas. Think about pre-wiring for in-wall speakers as well.

Transition Between Indoor and Outdoor

The outside and inside of your property are no longer treated as disconnected spaces. Minimize the separation between them to make your home appear larger and extend your entertaining area. Include easy entry to the backyard, especially from the kitchen. Highlight outdoor living space with a nice deck, landscaping, or maybe an outdoor kitchen. Remember to optimize for privacy.

Environmental Friendliness

Environmental friendliness is a newer trend. You may even notice properties particularly noting this in their marketing. There are many different ways to achieve this. You may opt for energy efficient products, choose less chemical-intensive materials, reclaim older items to inject charm to a modern home, and/or choose sustainable materials.

Open Floor Plans

Small separate rooms were once popular, but no longer. Open floor plans are in higher demand. They allow in more light and make a home feel more spacious. Think about including dramatic upgrades such as high ceilings, bay windows, or accent pieces such as fireplaces.

More On Home Remodeling Trends

In this article are just a few home remodeling trends. Consult with your contractor for more ideas. There are also many online resources where you may browse for trends. Prior to going with dramatic changes, it is a good idea to speak with an agent about what features are most demanded by buyers and therefore would help improve resale values.

Contact Blueprint Realty, Inc. at (615) 538-8328 or hello@blueprintrealtytn.com for additional information.

Home Inspection Negotiations

Home owners are not mandated to fix issues identified in a home inspection. There is a negotiation process. In advance of reviewing inspection results, be aware that inspections commonly include issues and additional tips from the inspector on improvements that can be made to the home. Focus on the real issues and not the upgrades because it is not advisable to request upgrades. If that were the case, the price of the property would be greater. Advice on home inspection negotiations for Franklin TN and Middle Tennessee area properties can be found in this article.

Narrowing Down Defects to Discuss

Home buyers should go through the list of defects and identify what is fair to negotiate, keeping in mind some strategy. Asking for every single minor item can upset a seller and potentially harm the chances for agreement. If there are few significant concerns and many minor ones, it may be more effective to only ask the important ones. In cases where there is an extensive list of moderate defects, perhaps requesting the most critical ones will be smarter than submitting an overwhelming full list.

Results of Negotiations

Sellers then have the choice to either…

Agree to complete all repairs prior to closing.
Agree to address some of the repairs prior to closing.
Offer to provide a credit to the buyer (via money for closing costs or a drop in price). The home buyer would then be tasked with the repairs.
Be unwilling to do anything.

The negotiation process can go back and forth a few times until both buyer and seller are in agreement. In certain instances, common terms may not be attained at all. If both parties remain on civil terms, both could be more flexible during this process. Whereas if any one feels alienated, agreement may be impossible.

Advice On Home Inspection Negotiations

Negotiation strategies should be weighed with your real estate agent and should take into account the specific situation. Remember that inspection reports detail both issues and improvements and that trying to receive improvements is almost never successful. Inspections are not a way to renegotiate sale price but instead to resolve big problems that were not predictable. Understanding this process will lead to better outcomes.

The above advice on Home Inspection Negotiations was compiled by Blueprint Realty, Inc. Contact us at (615) 538-8328 or hello@blueprintrealtytn.com for more tips on negotiating property inspections and other aspects of the home purchase process.

Home Selling Myths

In real estate there are many misconceptions that do not actually adjust as the market changes. Relying on inaccurate information can cost you. Do not fall for these most common home selling myths.

It Is Strictly About Location

In every region, there are a few towns that people want. Home buyers pay a premium price and believe that it will be a great investment. However, the highly desirable areas are not automatically great investments given prices could be close to their maximum. Thus, there might be little room for movement. In many cases, the moderately popular neighborhoods are a better investment.

Pricing Is Less Important When the Market is Hot

So, the market is improving and you want to receive top dollar for your property. You hear that homes are receiving above the asking price, so you list your house on the high end anticipating an even better final price. Setting the price too high could be a huge mistake. Comparable listings may have gone for higher than asking price because their starting price was sensible. You cannot assume that you will get similar results no matter where you begin.

It Is Better to Provide a Concession Than Make Repairs Ahead of Time

Providing a buyer concession is not the best approach for addressing necessary repairs to your property. Some items influence how well your home shows. Poor first impressions influence buyers to offer less. Necessary repairs can result in lower sale prices beyond the concession provided.

Home Renovations Are Always Profitable

This is one of the most popular misconceptions. Unfortunately, the cost of home repairs is not usually recaptured when when it comes time to sell. Even though upgrades do increase home values, the amount which you may recover depends on the type and scale of work. Bathrooms and kitchens, for example, historically receive more than other improvements.

Selling On Your Own Will Always Increase Your Net

Selling without a real estate agent will reduce the cost of real estate fees, but it will not automatically lead to a better profit. Real estate brokers are entrenched in the market and understand the best way to position your listing. Without that guidance, you may price incorrectly, lose critical time, or reach fewer buyers out there. These can cause a lower sale price, perhaps even lower than what you are saving on fees. There are many other costly mis-steps that you can commit along the way without the counsel of an experienced real estate agent.

Avoiding Common Home Selling Myths

Purchasing a house is a huge investment. When buying or selling real estate, it is critical to be educated and make good decisions. Rely on accurate facts rather than the most common home selling myths. Work with knowledgeable real estate professionals to guide you in the transaction. This will enable you sell your property faster, for more money, and with fewer issues.

Contact Blueprint Realty, Inc. at (615) 538-8328 or hello@blueprintrealtytn.com for additional information.

Required Seller Disclosure

When marketing listings, home owners and agents have a legal obligation to provide all material facts about a property. The majority of legal battles pertain to buyers believing that a homeowner intentionally kept facts. The following are details on required seller disclosure for Franklin TN and Middle Tennessee area properties.

The Need to Disclose

Disclosure is crucial. In minor cases, failure to disclose problems about a residence can merely lead to a party pursuing reimbursement for repairs. In more serious cases, it can lead to bodily injury. There was a case where an HVAC system problem resulted in the death of the home buyer and the seller was found guilty of involuntary manslaughter. Sellers may presume that disclosing certain problems can hurt the ability to sell or the amount for which it sells, but not disclosing facts may have much worse outcomes.

How to Disclose

Sellers may use specific forms for disclosing facts on a home. It may also be detailed in Purchase and Sales agreements. Detailing all problems, even repaired items, is the smartest way to sell a home. Buyers will typically find them anyway after inspections, upon moving in, or when speaking to neighbors. Furthermore, buyers tend to negotiate repairs differently after inspections than if known before making an offer. To help facilitate disclosure, keep receipts from purchases or contract work.

Details On Required Seller Disclosure

Being honest about the condition of a home ensures a smoother sale and prevents liability later. Sellers need not provide personal information such as the reasons for the sale, but must provide everything in their knowledge about the property itself. This blog about required seller disclosure was provided by Blueprint Realty, Inc. and is intended as an overview.

Contact Blueprint Realty, Inc. at (615) 538-8328 or hello@blueprintrealtytn.com for additional information.

First Time Home Buyer Advice

Buying real estate can be confusing. The first time home buyer advice in this blog is meant to help you understand the basics of the home buying process. Houses are a major financial investment and home buyers should become well educated.

Prior to Buying a Home

Find a Reputable Lender

Contact a local loan officer and ask for a pre-approval. Some companies may suggest unique alternatives. Evaluate the programs and fees to identify the best option. Get an estimate of closing costs and monthly expenses. This step should provide an indication of what you can afford to purchase.

Get Assistance from a Real Estate Professional

Find a real estate expert to help with your property purchase. Choose an individual that best suits your personality. Knowledgeable agents can help narrow down options, prepare offers, and facilitate a less stressful purchase. This expertise is particularly critical for first time buyers.

During the Home Buying Process

Viewing Real Estate in Person

Only view properties that fit your price range. This prevents the heartbreak of wanting real estate that you cannot afford. Viewing properties can take significant time and energy, so staying within your range will also minimize wasting of time.

Making an Offer

Real estate agents can offer advice on contracts and negotiating them, but they can not render legal advice. If you would like a legal opinion, consider using a real estate attorney to explain legal jargon and request any necessary edits to them. It is important that you sufficiently understand the conditions and obligations of contracts before signing them.

Home Inspections

Inspections are not intended for price re-negotiations as they may not find any issues at all. Also avoid negotiating known problems. Such strategies are not usually successful and may cause you to waste the inspection costs. In situations where defects are uncovered, sellers can agree to repair issues, offer price concessions, or do nothing at all. Keeping a good rapport with sellers can help facilitate any required negotiations.

Walk-Thru Before Closing

Prior to the closing, you should have a chance to walk thru the home one more time to verify it is in the same condition as agreed upon. It is a good idea to make this after the occupants have removed their belongings. If any issues are present at the walk-thru, you may negotiate them prior to completing the closing.

Closing and Settlement

All parties signing any documents must furnish legal identification. Closing costs and down payment funds must be in the form of a certified check or money order. Also bring your checkbook for any final corrections. After the closing, the home is officially yours!

Additional First Time Home Buyer Advice

The property buying process will be less intimidating if you have a basic understanding of the process and a good agent by your side. For more comprehensive first time home buyer advice, contact Blueprint Realty, Inc. at (615) 538-8328 or hello@blueprintrealtytn.com.