Lynn D'Avolio
Coldwell Banker Residential Brokerage | 801-597-2857 | lynn1@soldbylynn.com


Posted by Lynn D'Avolio on 12/15/2015

Home prices are at rock bottom and mortgage rates at all-time lows so you may be considering going from renter to homeowner. If you are planning on staying put for a while the choice makes sense. There are a few things to take into consideration before you make the leap from renter to owner. First, you will need to determine how much you can afford. Consult with a mortgage professional to help you determine what kind of mortgage you qualify for. Just because you pay $1,000 a month in rent, doesn't mean you can handle a $1,000 monthly mortgage payment. There are more costs to owning a home than just the mortgage payment. As a homeowner you will also be responsible for property tax, home insurance, utilities, and repairs. To prepare for those costs plan on adding about 40 percent to your base cost. So, if your mortgage is $1,000, add about $400 a month for a better estimate of costs. Before you make a rash decision see if you really can afford the cost difference. Once you know the cost difference spend a few months depositing the difference between your rent payment and your cost estimate in the bank. In the previous example you would deposit $400 a month into savings. If you've been able to keep up the deposits and pay your other bills, that's a sign you can afford to buy. Now that you have been saving more you have more money to put toward the down payment of your new home. These are just a few tips to get you started. Once you have a better financial picture it will be time to start shopping. That is when the fun begins.





Posted by Lynn D'Avolio on 10/6/2015

Are you looking for more space, ventilation or light in your home? One way to add more space or light to an existing home without a huge addition is to add dormers. If you're thinking about adding dormers to your house you will want to make sure they complement your home style. Dormers can take on many shapes and sizes here is a guide to the most popular: Gable- This is probably the most popular type of dormer. A gable dormer is typical in the English Tudor style home. Gabled dormers have gabled roofs, with two sloping planes that meet in the center. Hipped- These are similar to gabled dormers but hipped dormers are sheltered by side roofs and sloping fronts. They form a pointed cap meeting at a common ridge line. You can mostly find them on a Shingle, Prairie, and French Eclectic style home.

Eyebrow dormers- These dramatic dormers look like their name, they have a low upward curve and a lack of vertical sides. The eyebrow dormer is often a feature of Shingle style architecture. Shed- The shed dormer is the most simple, they feature single-planed, pitched roof. Shed dormers provide the greatest headroom and window space. The costs of adding dormers can vary; plan on an average cost of cost between $80 and $140 per square foot. This price reflects only the exterior work, when adding dormers there will be interior work, such as dry walling, painting, and more.  




Tags: dormers   gable   hipped   shed   eyebrow   adding dormers  
Categories: Real estate   Home Design  


Posted by Lynn D'Avolio on 8/25/2015

Is it a seller's market? A buyer's market? Depends on the day and which media outlet you happen to be listening to. One thing is sure the market is changing. Here are some ways to know what kind of market it is: These are the signs of a buyer's market High inventory or more than six months of inventory currently on the market. Sale prices are higher than active listing prices. Lower closed sale numbers. Declining median sales prices. Higher DOM or days on the market. Here are some signs of a seller's market Low inventory or less than six months of inventory currently on the market. Sale prices are lower than active listing prices. Higher closed sale numbers. Increasing median sales prices. Lower DOM or days on the market. These are signs of a balanced market Three to six months of inventory is currently on the market. Sale prices are similar to active listing prices. Stable sales numbers. Flat median sales prices. Days active on the market are approximately 30 to 45 days. If you want to know how to figure out the months of inventory there is a simple way to do that. Take the total number of active listings and the total number of sold or closed transactions on the market last month. Divide the number of total listings by the number of total sales, which results in the number of months of inventory remaining. Then you can determine what type of market it is.





Posted by Lynn D'Avolio on 8/18/2015

Does a backyard pool add value to a home? That has been a long debated question among real estate professionals. While there is no clear answer the National Association of Realtors reports that pools add approximately 7.7 percent to the average property value. But there are some caveats to that statistic. In recent years, pools have become more part of the landscape that a hole in the yard. Things that increase home values with pools also include backyard landscaping, fencing, walkways, decks, and fabulous plantings. Another factor that increases a property’s desirability and value is if the home is in an area that has a large number of pools. Be aware if your neighborhood has a community pool it may be difficult to attract buyers for your home. Experts say buyers that are looking for pools are typically middle age with teenage children.  While buyers with younger children might shy away from a home with a pool and view it as an accident waiting to happen While in-ground pools return approximately 50 percent of their initial investment, be sure to keep service records that show it’s in good working order prospective buyers will want to see the pool has been properly maintained.  





Posted by Lynn D'Avolio on 7/28/2015

There are many ways that you can invest in real estate. One way is by purchasing land. This option can be a very lucrative choice, as long as you keep the few important points in mind. The reason why purchasing land could be a viable option is because you get to pick your location, and build a home to your specs. This will allow you to find your own contractors to construct your building for you. By having full control over who you choose and what you pay, it becomes easier for you to save on costs. Keep in mind that while you do have full control over who you choose to build on your property, it also means that there will be more responsibility hanging over your shoulders. For example, you would need to make sure that you have all the right permits to construct your building, and you also have to make sure that you choose the right contractors; otherwise the whole project can turn into a big catastrophe. Therefore, before deciding to purchase a piece of property that is completely void of any buildings, take some time to do some research, as this will save you a lot of headache in the long run. Buying land in a down market can also be a great investment. Land is becoming harder to come by, which is creating a higher demand for land and in turn bringing the price up. Buying land now and holding onto to it could bring some great return. Think about it in 10 years from now there will be a lot less land and your lot could be worth a pot of gold. Invest now and reap the rewards down the road. Think of it like a savings account, you deposit money into a piece of land and watch your money grow!