Local Homeowner Highlight August 2018

We love that our clients and the Flagstaff community take pride in their home ownership. That’s why we started our monthly Homeowner Highlight—to show off a local resident’s home renovations and improvements!

This month we are highlighting one of our favorite clients! They bought a Foxglenn home on Fox Lair last fall. This summer they painted the whole exterior themselves! The house had the original exterior (or at least it looked like the original) and they filled over 40 woodpecker holes! If anyone has woodpecker problem, they know how to get rid of them.

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The previous owner had painted the counter-tops and turned the kitchen peninsula into an island leaving an awkward open space. Our clients put in new counter-tops, back-splash and created a trash/recycle cabinet in the old opening.

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They replaced the carpet in the living area with a laminate wood that matches the tongue and groove ceiling. This included removing the “carpet baseboard” and re-texturing the walls.

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Have you recently upgraded or landscaped your home? We are looking for small or large remodels. Send your photos and remodel story to flagstaffrealtygroup@outlook.com for a chance to be featured in next month’s Homeowner Highlight!

Flagstaff Real Estate: Historic Low Interest Rates

Mortgage Rates Again at Historic Lows | Keeping Current Matters | Flagstaff Real Estate

“Just two weeks ago, we posted an article discussing where mortgage interest rates may be heading over the next twelve months. We quoted projections from Fannie Mae, Freddie Mac, the Mortgage Bankers’ Association and the National Association of Realtors. Each predicted that rates would begin to rise slowly and steadily throughout 2016.

However, shaky economic news and a volatile stock market have actually caused rates to drop six out of the last seven weeks, and have remained at 3.65% for the past two weeks.

Mortgage Rates Again at Historic Lows | Keeping Current Matters | Flagstaff Real Estate

Rates have again fallen to historic lows yet many experts still expect them to increase in 2016. The only thing we know for sure is that, according to Freddie Mac, current rates are the best they have been since last April.

Bottom Line

If you are thinking of buying your first home or moving up to your ultimate dream home, now is a great time to get a sensational rate on your mortgage.”

http://www.simplifyingthemarket.com/2016/02/24/mortgage-rates-again-at-historic-lows/?a=179569-ef8f37d7fae0ee50473fc5b5629fe547

Flagstaff Real Estate | Buy a Home | Sell a Home | Northern Arizona Realtor

Inaccurate Zillow ‘Zestimates’ a source of conflict over home prices

Follow the link to the article on the LA Times:

http://www.latimes.com/business/realestate/la-fi-harney-20150208-story.html

By KENNETH R. HARNEY

VA Loans | Flagstaff Real Estate

Did you know as veteran you can purchase a home with ZERO down and all or most of your closing costs paid for? And with home interest rates staying at historical lows – it is a perfect time to purchase your first home! Download this free brochure VA Loans 101 brought to you by www.valoans.com.

Flagstaff Realty Group with AZNORTH Realty has plenty of experience with VA Loans and guarantees we will work our hardest so that you bring little to no money to the closing table!! Call us today to talk about your options.

VALoans 101 | VA Loans Brochure| Flagstaff Real Estate

Understanding Energy Ratings for Windows and Doors

Flagstaff Real Estate | Flagstaff Second Homes | Flagstaff Condos | Northern Arizona Realty | Flagstaff Realty | Williams Real Estate | Flagstaff Realtor

PREPPING FOR FLAGSTAFF’S COLD WEATHER

Understanding Energy Ratings for Windows and Doors

By: Karin Beuerlein

Published: January 4, 2013

Qualifying for the $200-$500 federal tax credit on new windows and doors depends on two measurements, U-factor and Solar Heat Gain Coefficient.

Just because windows or doors are Energy Star-labeled doesn’t mean they’re eligible for a federal tax credit. And with costs running about $500-$1,000 per window including labor, it’s wise to know something about the scientific lingo and numbers on the product labels you’re likely to encounter. Here’s your pro-level label-decoding guide so you can be sure you’re buying qualified products.

Which Labels Matter?

The two labels you should look for: The U.S. Department of Energy’s blue-and-yellow Energy Star label, which specifies the climate zones the product is certified for, and the white National Fenestration Rating Council label. Nonprofit NFRC is the industry-recognized certifying body for windows and doors. It reports raw numbers only; Energy Star tells you whether those numbers constitute superior performance, putting its seal of approval on those products that meet its standards.

To confuse matters, DOE has issued a blue label that manufacturers can use to signify that a product qualifies for the tax credit. But DOE doesn’t require that manufacturers include it.

What You Need to Get the Tax Credit

For windows or doors to qualify for the credit, two NFRC-supplied measurements must each be equal to or less than 0.3, regardless of climate: U-factor and solar heat gain coefficient (SHGC). You must also have the manufacturer’s signed statement that the product complies with IRS requirements. This either comes with purchase or can be downloaded from the manufacturer’s website.

Don’t be swayed by ratings the manufacturer may post on its own label. A window or door’s frame and other components (weather stripping, sidelights, transoms) can significantly affect its energy efficiency, so NFRC measures based on the entire unit, not just the window glass or door slab alone. Manufacturers, on the other hand, sometimes report values that don’t take the entire unit into account, according to Energy Star.

A Guide to Measurements

The NFRC label typically lists five measurements, including the tax credit-critical U-factor and SHGC. The other three are somewhat less important to energy performance, according to Energy Star, but can help you judge how well a window or door will perform in a particular application—for example, whether it’ll let in enough light.

Where you live affects which measurements are most important, but the tax credit requirements are uniform across the country. There are four Energy Star climate zones, differentiated by whether heating, cooling, or a mix of the two is most critical to energy performance.

1. U-Factor

Range: 0.20 to 1.20

The lower the number, the better an insulator the window or door is.

Tax credit qualification requirement: 0.3 or less

Efficient Windows Collaborative climate recommendations:

Northern: 0.35 or less

North Central or South Central: 0.4 or less

Southern: 0.60 or less

A low U-factor means that less heat escapes in the winter, which makes it particularly important in cold northern climates, according to the Collaborative, a coalition of government agencies, research organizations, and manufacturers that promote efficient window technology.

2. Solar Heat Gain Coefficient (SHGC)

Range: 0 to 1

The lower the number, the less solar radiation—and heat—the window or door allows inside.

Tax credit qualification requirement: 0.3 or less

EWC climate recommendations:

Northern: The highest you can find (paired with a low U-factor) if cooling isn’t a significant concern; up to 0.55 if cooling is a significant concern.

North Central: 0.4 or less for climates with significant air conditioning; up to 0.55 for climates with moderate air conditioning.

South Central or Southern: 0.4 or less.

SHGC refers to the solar radiation a window or door allows inside. Seek the lowest possible SHGC rating in warm climates to minimize the use of air conditioning. Look for a slightly higher number in cooler climates so that the sun can help heat your home in winter, but be sure to balance SHGC with an efficient U-factor for your area.

3. Visible Transmittance

Range: 0 to 1

Lower number means the room will be dimmer; a higher number means the room will be brighter.

Tax credit qualification requirement: none

This number applies to windows or doors with windows only. Visible transmittance is the amount of light a window allows to pass through. With older window glazing techniques, VT and solar heat gain were basically the same; the brighter a room, the hotter it got. But new technologies allow windows to let in lots of light while the room stays cool.

Consult VT numbers if you’re looking to reduce glare in a room or fill it with natural light, but be warned that a very low VT may mean you have to use artificial lighting even during the day.

4. Air Leakage

Range: N/A, but .0.3 is standard building code

The lower the number, the more airtight the window or door.

Tax credit qualification requirement: none

This number, expressed in cubic feet per minute per square foot of window/door area, represents the amount of air that the window or door’s frame allows to pass through. Energy Star standards don’t consider air leakage because it’s difficult to measure accurately and can change over time as frame materials expand, contract, or warp in place, according to the EWC. Still, this measurement can help you compare similar products, especially if they’ll be buffeted by the elements.

5. Condensation Resistance

Range: 1 to 100

The lower the number, the more condensation the window or door allows to build up.

Tax credit qualification requirement: none

Condensation resistance is a measure of how much moisture a window or door allows to build up on the surface (which can drip onto wood and cause mold or discoloration) or between glazing layers (which can’t be clean and blocks your view). Energy Star-rated windows tend to resist condensation well, so this number won’t likely affect your purchase decision.

Before Buying New Windows

You can recoup 78.7% of the project cost for midrange vinyl replacement windows, according to Remodeling Magazine’s annual Cost vs. Value Report.

But before you buy, check out these articles for more info:

What You Need to Know About Buying Energy Efficient Windows

Repairing Windows May Be the Smarter Option


Read more: http://members.houselogic.com/articles/understanding-energy-ratings-for-windows-and-doors/preview/#ixzz3FUbv6Anp 
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DIY Insulate A Garage Door | Flagstaff Homes

Flagstaff Real Estate | Flagstaff Second Homes | Flagstaff Condos | Northern Arizona Realty | Flagstaff Realty | Williams Real Estate | Flagstaff Realtor

Prepping for Flagstaff’s Cold Weather

How To Insulate A Garage Door

Flagstaff Real Estate | Flagstaff Second Homes | Flagstaff Condos | Northern Arizona Realty | Flagstaff Realty | Williams Real Estate | Flagstaff Realtor

By: Lisa Kaplan Gordon

Garage insulation cuts energy bills and street noise. Here’s how to insulate your garage door.

Garage door insulation can make your life warmer, cooler, and quieter. It lowers energy bills, acts as a barrier between you and street noise, and brightens an otherwise dreary space.

Garage door insulation is an easy DIY project; it’ll cost you about $200 to insulate two 9-foot-wide doors.

Types of insulation

Any insulation type will increase the energy efficiency of your garage door. Here are the most popular types to apply to the back of garage doors:

Batt insulation. This flexible insulation, often found stuffed into exterior walls, is commonly made of fiberglass. It’s usually backed by paper or foil, which act as vapor and air barriers. Insulating values are R-3 to R-4 per inch of thickness. Cost is about 30 cents per sq. ft.

Foam board insulation. These rigid panels, typically made from polystyrene, provide a high insulating value for relatively little thickness. Panels most often range from ½ inch thick (R-3.3) to 1 inch (R-6.5). Foam board often is faced with aluminum or vinyl. ($20 for a 4-by-8-ft. sheet that’s 1 inch thick.)

Reflective insulation. Rigid boards and rolls of reflective insulation have highly reflective aluminum foil applied to one or both sides of insulation materials, such as cardboard and polyethylene bubbles. This type of insulation reflects radiant heat, making it a good insulation choice for garages that heat up in summer or hot climates. Its approximate R-value is 3.5 to 6, depending on the way you apply it. (A 4-by-25-foot roll is $42).

Matching insulation to your garage door

The goal is to match your garage door to an insulation that’s easy to install and appropriate for your climate.

Steel garage doors. These doors can accommodate any type of insulation. Stuff the flexible insulation in the frames around the panels, with the fiberglass side touching the door. Or squeeze cut-to-fit foam board insulation into the frames.

Wood frame-and-panel doors. Cut and fit rigid insulation into the recesses between the door frames. For extra climate control, install two layers of foam board.

Flat garage doors. Foam board or reflective insulation is the best fit for garage doors without panels. Glue or tape the insulation to the garage door.

Insulation kits

Even though buying and cutting insulation isn’t hard, garage door insulation kits make it even easier. They contain:

Insulation — rolls or boards — cut closer to the size of garage panels than if you bought these yourself, though you’ll still have to trim.

Fasteners or tape to hold insulation in place.

Higher-end kits throw in gloves and/or a utility knife.

Kits to insulate a 9-ft. wide garage door cost $50-$70.

Heads up!

Adding insulation to a garage door adds weight. Extra weight isn’t usually a problem with 9-ft. wide doors, but can strain the opening mechanism of larger doors. Your garage door’s spring tension might have to be adjusted — a job best left to a garage door professional.

Budget Kitchen Remodeling: 5 Money-Saving Steps

By: Gretchen Roberts

Published: January 19, 2012

Can’t afford an entire kitchen remodel in one fell swoop? You can complete the work in 5 budget-saving stages (and still cook dinner during the down time).

Major kitchen remodels are among the most popular home improvements, but a revamped cooking and gathering space can set you back a pretty penny. According to Remodeling Magazine’s 2014 Cost vs. Value Report, a major, 200-sq.-ft. kitchen remodel costs about $55,000, with a 74.2% return on investment come selling time.

If you can’t come up with all that cash or take out a loan to do the remodel in one shot, a good strategy is to proceed in stages. By breaking down the kitchen remodeling process, you’ll be able to proceed at your own pace, as time and money allow.

Stage one: Start with a complete design plan

Your plan should be comprehensive and detailed — everything from the location of the refrigerator to which direction the cabinet doors will open to whether you need a spice drawer.

To save time (and money) during tear-out and construction, plan on using your existing walls and kitchen configuration. That’ll keep plumbing and electrical systems mostly intact, and you won’t have the added expense — and mess — of tearing out walls.

Joseph Feinberg, vice president of Allied Kitchen and Bath in Fort Lauderdale, Fla., recommends hiring a professional designer, such as an architect or a certified kitchen designer, who can make sure the details of your plans are complete. You’ll pay about 10% of the total project for a pro designer, but you’ll save a whole bunch of headaches that would likely cost as much — or more — to fix. Plus, a pro is likely to offer smart solutions you hadn’t thought of.

For a nominal fee, you also can get design help from a major home improvement store. However, you’ll be expected to purchase some of your cabinets and appliances from that store.

Cost: professional designer: $5,800 (10% of total)

Key strategies: Once your plans are set, you can hold onto them until you’re ready to remodel.

Time frame: 3-6 months

Read on to learn more budget kitchen remodeling tips:

Stage two: Order the cabinets, appliances, and lighting fixtures
Stage three: Gut the kitchen and do the electrical and plumbing work
Stage four: Install cabinets, countertop, appliances, flooring, and fixtures
Final phases: Upgrade if necessary

Stage two: Order the cabinets, appliances, and lighting fixtures

Cabinets and appliances are the biggest investments in your kitchen remodeling project. If you’re remodeling in stages, you can order them any time after the plans are complete and store them in a garage (away from moisture) or in a spare room until you’re ready to pull the trigger on the installation.

Remember that it may take 4-6 weeks from the day you order them for your cabinets to be delivered.

If you can’t afford all new appliances, keep your old ones for now — but plan to buy either the same sizes, or choose larger sizes and design your cabinets around those larger measurements. You can replace appliances as budget permits later on.

The same goes for your lighting fixtures: If you can live with your old ones for now, you’ll save money by reusing them.

You’ll have to decide about flooring, too — one of the trickier decisions to make because it also affects how and when you install cabinets.

You’ll need to know if your old flooring runs underneath your cabinets, or if the flooring butts up against the cabinet sides and toe kicks. If the flooring runs underneath, you’ll have some leeway for new cabinet configurations — just be sure the old flooring will cover any newly exposed floor areas. Here are points to remember:

Keep old flooring for cost savings. This works if your new cabinets match your old layout, so that the new cabinets fit exactly into the old flooring configuration. If the existing flooring runs underneath your cabinets and covers all flooring area, then any new cabinet configuration will be fine.

Keep your old flooring for now and cover it or replace it later. Again, this works if your cabinet configuration is identical to the old layout.

However, if you plan to cover your old flooring or tear it out and replace it at some point in the future, remember that your new flooring might raise the height of your floor, effectively lowering your cabinet height.

For thin new floor coverings, such as vinyl and linoleum, the change is imperceptible. For thicker floorings, such as wood and tile, you might want to take into account the change in floor height by installing your new cabinets on shims.

Cost: cabinets: $16,000 (27% of total); appliances and lighting fixtures: $8,500 (15% of total); vinyl flooring: $1,000 (2% of total)

Key strategy: Keep old appliances, lighting fixtures, and flooring and use them until you can afford new ones.

Time frame: 2-3 weeks

Stage three: Gut the kitchen and do the electrical and plumbing work

Here’s where the remodel gets messy. Old cabinetry and appliances are removed, and walls may have to be opened up for new electrical circuits. Keep in close contact with your contractor during this stage so you can answer questions and clear up any problems quickly. A major kitchen remodel can take 6 to 10 weeks, depending on how extensive the project is.

During this stage, haul your refrigerator, microwave, and toaster oven to another room — near the laundry or the garage, for example — so you’ve got the means to cook meals. Feinberg suggests tackling this stage in the summer, when you can easily grill and eat outside. That’ll reduce the temptation to eat at restaurants, and will help keep your day-to-day costs under control.

Cost: $14,500 for tear-out and installation of new plumbing and electrical (25% of total)

Key strategies: Encourage your contractor to expedite the tear-out and installation of new systems. Plan a makeshift kitchen while the work is progressing. Schedule this work for summer when you can grill and eat outside.

Time frame: 6-10 weeks

Stage four: Install cabinets, countertop, appliances, flooring, and fixtures

If you’ve done your homework and bought key components in advance, you should roll through this phase. You’ve now got a (mostly) finished kitchen.

A high-end countertop and backsplash can be a sizable sum of money. If you can’t quite swing it, put down a temporary top, such as painted marine plywood or inexpensive laminate. Later, you can upgrade to granite, tile, solid surface, or marble.

Cost: $12,000 (21% of total)

Key strategy: Install an inexpensive countertop; upgrade when you’re able.

Time frame: 1-2 weeks

Final phases: Upgrade if necessary

Replace the inexpensive countertop, pull up the laminate flooring, and put in tile or hardwood, or buy that new refrigerator you wanted but couldn’t afford during the remodel. (Just make sure it fits in the space!)

Five Tips for a Great Backyard – Flagstaff, AZ – Real Estate

Summer is here, so entertaining has made the move from the living room to the backyard. It’s the season for barbecues and campouts. Here are five ways to make sure your back yard is everyone’s favorite.

small-backyard-design-atrractive-wallpaper-stunning-ideas-for-your-backyard-landscaping-Attractive-Backyard-Ideas-Attractive-wooden-backyard

Make sure there’s a place to cook! The way to your guests’ hearts is through their stomachs. You could have something as simple as a charcoal grill or as elaborate as a fully-featured kitchen, but it‘s essential that you can prepare some food outdoors.

Lighting matters. At the very least you need enough lighting to keep the party going when the sun goes down. But for a back yard that really pops, add some decorative lighting to walkways, landscaping, or anything else worth highlighting.

Gather around the fire. This one’s a no brainer. Everyone loves a good place to make hot dogs and s’mores—just make sure you’re not violating any neighborhood ordinances.

Bring the beach to your backyard. A little water will make everything look better. It could be something as simple as fountain or as elaborate as a waterfall or fish pond.

Don’t forget the foliage. Trees, shrubs and flowers are all important for adding the finishing touches to your outdoor entertainment space. The trees and shrubs can provide some much-needed shade when the sun is out, and flowers add just the right amount of color.

Vacation Home Property Sales Surge – Flagstaff Real Estate

The American desire to own a second home as a vacation home is alive and well!

The National Association of Realtors analysis of U.S. Census Bureau data shows there are approximately 8 million vacation homes in the U.S. Their 2014 Investment and Vacation Home Buyers Survey shows vacation home sales improved substantially in 2013.

NAR Chief Economist Lawrence Yun said favorable conditions are driving second-home sales:

“Growth in the equity markets has greatly benefited high net-worth households, thereby providing the wherewithal and confidence to purchase recreational property,” he said. “However, vacation-home sales are still about one-third below the peak activity seen in 2006.”

Here are the key findings from the report:

Raw Numbers

Vacation-Home sales rose 29.7 percent to 717,000 from 553,000 in 2012
Sales accounted for 13% of all transactions last year, up from 11% in 2012
The median price was $168,700, compared with $150,000 in 2012, reflecting a greater number of more expensive recreational property sales in 2013
42% of vacation homes purchased in 2013 were distressed homes (in foreclosure or short sale)

Buyer Profile

The typical vacation-home buyer was 43 years old
The median household income was $85,600
Buyers plan to own their recreational property for a median of 6 years
33% said they were likely to purchase another vacation home within two years
82% of all second-home buyers said it was a good time to buy (compared with 67% of primary residence buyers)

Reasons for Purchasing

Lifestyle factors remain the primary motivation for vacation-home buyers:

87% want to use the property for vacations or as a family retreat
31% plan to use it as a primary residence in the future
28% wanted to diversify their investments or saw a good investment opportunity
23% plan to rent to others

Location

41% of vacation homes purchased last year were in the South
28% in the West
18% in the Northeast
14% in the Midwest

The vacation homebuyer purchased a property that was a median distance of 180 miles from their primary residence (down from 435 in 2012)

46% were within 100 miles
34% were more than 500 miles

Financing

38% of vacation-home buyers paid cash in 2013
The median down payment was 30%, up from 27% in 2012

www.keepingcurrentmatters.com/

Understanding Capital Gains in Real Estate

When you sell a stock, you owe taxes on your gain — the difference between what you paid for the stock and what you sold it for. The same holds true when selling a home (or a second home), but there are some special considerations.

How to Calculate Gain
In real estate, capital gains are based not on what you paid for the home, but on its adjusted cost basis. To calculate, follow these steps:

1. Purchase price: _______________________

The purchase price of the home is the sale price, not the amount of money you actually contributed at closing.

2. Total adjustments: _______________________

To calculate this, add the following:

Cost of the purchase — including transfer fees, attorney fees, and inspections, but not points you paid on your mortgage.
Cost of sale — including inspections, attorney fees, real estate commission, and money you spent to fix up your home just prior to sale.
Cost of improvements — including room additions, deck, etc. Note here that improvements do not include repairing or replacing something already there, such as putting on a new roof or buying a new furnace.

3. Your home’s adjusted cost basis: _______________________

The total of your purchase price and adjustments is the adjusted cost basis of your home.

4. Your capital gain: _______________________

Subtract the adjusted cost basis from the amount your home sells for to get your capital gain.
A Special Real Estate Exemption for Capital Gains
Since 1997, up to $250,000 in capital gains ($500,000 for a married couple) on the sale of a home is exempt from taxation if you meet the following criteria:

You have lived in the home as your principal residence for two out of the last five years.

You have not sold or exchanged another home during the two years preceding the sale.

You meet what the IRS calls “unforeseen circumstances,” such as job loss, divorce, or family medical emergency.

www.buysellflagstaffhomes.com
www.blakeschraufnagel.com

Reprinted from REALTOR® magazine (REALTOR.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®.

Have you recently upgraded or landscaped your home? We are looking for small or large remodels. Send your photos and remodel story to flagstaffrealtygroup@outlook.com for a chance to be featured in next month’s Homeowner Highlight!

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Flagstaff Real Estate | Buy a Home | Sell a Home | Northern Arizona Realtor

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Flagstaff Real Estate | Flagstaff Second Homes | Flagstaff Condos | Northern Arizona Realty | Flagstaff Realty | Williams Real Estate | Flagstaff Realtor

PREPPING FOR FLAGSTAFF’S COLD WEATHER

Understanding Energy Ratings for Windows and Doors

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Prepping for Flagstaff’s Cold Weather

How To Insulate A Garage Door

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Stage two: Order the cabinets, appliances, and lighting fixtures

Stage three: Gut the kitchen and do the electrical and plumbing work

Stage four: Install cabinets, countertop, appliances, flooring, and fixtures

Final phases: Upgrade if necessary

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The American desire to own a second home as a vacation home is alive and well!

Raw Numbers

Buyer Profile

Reasons for Purchasing

Location

Financing

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