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Easy Landscaping DIY Projects for Your Inland Empire Home
Ever get the itch to do a DIY project? Whenever I do, my favorites involve getting outdoors and mixing up my landscaping features. Whether it’s as simple as installing some lighting or a little more time-consuming like re-plotting plants, a fresh look for the lawn always gives your Inland Empire home a fresh look as well. Since curb appeal is so important when selling your home, here are my top five easy landscaping DIY projects that bring buyers to your front door.
Easy Landscaping DIY Projects for Your Inland Empire Home
Create a Pathway
To guide you and visitors throughout your yard and link different areas together, install a pathway. You can use a variety of materials, including reclaimed pallet wood, flagstones, gravel, and more to add texture and color to your Inland Empire home.
Add a Wall or Border
Installing a flagstone, rock, or brick wall around flower beds or trees adds a sleek, clean look to your landscaping and helps separate different sections of your yard.
Install a Water Feature
Nothing says “zen” quite like the sound of trickling water as you relax in your yard. You can start simply by purchasing and installing a small feature powered by a solar panel or create a larger focal point in your yard by installing a waterfall wall or small pond. This works really well in your backyard, which also needs attention when you sell your Inland Empire home.
Light Your Way
An easy way to transform your yard is to strategically use lighting. Place cool-colored lights high in trees to recreate a moonlight feel. Use pathway lights to naturally guide the eye or highlight objects and/or plants.
Plant Upwards
Expand the yard space of your Inland Empire home by drawing the eye to the sky with a trellis fence or screen made of wood or metal. Once you install your trellis, select your climbing plants and vines and get to planting!
Muna Dionne, your Inland Empire specialist with Coldwell Banker Realty
When to Refinance Your Inland Empire Home
Refinancing your mortgage is something most homeowners consider at least once throughout the lifespan of their home loan. It allows you to pay off your previous loan by applying for a new one that has better financial advantages. While there are many good reasons to refinance, here are five of the most common ones.
Scoring a Lower Interest Rate
The number one reason Inland Empire homeowners decide to refinance is to secure a lower interest rate on their mortgage. Not only does this save you money in the long run and decrease your monthly payment, but you can start building equity in your home sooner. Even though interest rates are currently on the rise, you may still score a lower rate than the one you originally procured when you purchased your property.
Using an Improved Credit Score
Even if interest rates have not dropped in the market, if you’ve improved your credit score over the last few years. Therefore, you may be able to reduce your mortgage rate.
Shortening the Loan’s Term
If interest rates are decreasing, there is a chance you may be able to get a shorter loan term with little to no change in your monthly payment, allowing you to pay off your loan sooner. However, in the current market, that may not necessarily be the case. Even so, shorter terms mean less interest paid over the life of the loan and the quicker you can pay off your Inland Empire home loan. So, it might be worth the extra expense if you can spare it.
Switching From an Adjustable Rate to a Fixed Rate
If you chose an adjustable-rate mortgage with great introductory rates when you initially financed your Inland Empire home, that rate may increase significantly over the years. By switching to a fixed rate when interest rates are lower, you can protect yourself from future increases.
Cashing Out Home Equity
If there is a big purchase or payment on the horizon, such as funding a wedding or going back to school, your best option may be to use the equity you’ve built in your home to borrow money at a lower cost.
Interest rates are expected to continue to rise throughout 2020. In spite of that, some homeowners may still benefit from refinancing right now. Talk to your lender about your options and see if a refinance of your home loan is something that will benefit you.
Muna Dionne, your Inland Empire specialist with Coldwell Banker Realty
Top Tips for Inland Empire House Hunting Online
Hunting for a new Inland Empire home online is a great place to start your search. However, this should not be your end all be all. Good listing agents are excellent at highlighting the best features of the home. But keep in mind that there may be more than meets the eye. To make the most of your time and efforts and gather a well-rounded picture of home listings online, keep the following three things in mind.
Top Tips for Inland Empire House Hunting Online
Stay Up to Date
When you start your Inland Empire home search, make sure that you find a site that pulls up-to-date listings directly from the multiple listing service (MLS) where real estate agents actively post their most current homes for sale. Many online resources update less often or fail to remove listings that are off the market. This makes it more difficult to sort through the clutter.
Pictures Can be Deceiving
Real estate photographers are experts at showing an Inland Empire home in the best possible light. Many use tools and strategies to boost appeal, such as a fisheye lens to make areas look larger and creative editing to make colors and textures really pop. But, often listings will not contain photos of unappealing parts of the home, like small closets or outdated bathrooms.
See It to Believe It
Once you find what appears to be your dream Inland Empire home online, call up your real estate agent and schedule a showing. You want to take the opportunity to vet the home in person and explore every part of it before beginning the offer process. Your real estate agent will help you cover all your bases and will ask questions you may not have thought of.
Muna Dionne, your Inland Empire specialist with Coldwell Banker Realty
What to Repair Before You List Your Inland Empire Home
When you’re getting ready to list your Inland Empire home, it’s of the utmost importance to ensure that you are showing it in the best light. Taking time to highlight its strengths and fix up some of its possible weaknesses can make a big difference in how fast it sells. Here are our top four recommended repairs to make before selling your Inland Empire home.
Repaint Walls
Giving your home a fresh coat of paint is one of the most cost-effective ways to spruce it up. Generally, this can be a do-it-yourself project, too. Make sure to cover any walls with scratches and chips. Then, consider updating any accent walls with a more neutral coat.
Repair Floors
Hardwood floors are a very desirable feature in an Inland Empire home. So you want to ensure that they look their best by fixing scratches or dull areas. If your carpet is worn or stained, consider replacing it. And don’t forget the tile in your kitchen or bathrooms. Re-grouting can go a long way in making dingy tile work look brand new!
Refresh the Landscaping
Show buyers your home is the full package by dressing up the outside as well as the in. Clean walkways and driveways. Then, plant seasonal flowers and plants. Next, trim hedges and trees. Install outdoor décor pieces. Finally, fill in mulch and gravel.
Fix Your Fixtures
Leaky faucet? Rusted drains? Loose drawer handles? Making these small fixes can make a big difference to potential Inland Empire home buyers with detailed-orientated minds. Improve your kitchen. An outdated kitchen can be a real eyesore in a home. Updating cabinetry, repairing or replacing countertops, and installing new faucets and sinks may be worth the investment.
Muna Dionne, your Inland Empire specialist with Coldwell Banker Realty
The Difference Between a Home Warranty and Home Insurance for the Inland Empire Home Buyer
When purchasing a new Inland Empire home, it’s important to do in-depth research on all facets of the homebuying process. One thing you’ll need to understand is how to best protect yourself and your investment if anything were to go wrong. Check out the information on home insurance versus home warranty below to educate yourself on your options.
Home Insurance
Homeowners insurance pays for any accidental damages and losses that are caused by fire, lightning strikes, windstorms, and hail. However, damage from earthquakes and floods is typically not covered. It also covers the replacement of personal property in case of theft or damage and liability if a person were to get injured in your home or on your property. According to Nerd Wallet, the average annual cost of a homeowner’s insurance policy in California in 2022 falls around $1273 per year (or $106 per month). The bank usually asks you to obtain a policy before the mortgage is issued. Make sure to keep in mind that each type of coverage in the policy is subject to a limit and, in most cases, you will have to pay a deductible.
Home Warranty
A home warranty is designed to cover the cost of repairs and replacements of larger appliances and crucial systems in your Inland Empire home that may fail or break due to age and wear and tear. This includes but isn’t limited to HVAC, electrical, or plumbing components, kitchen appliances, and your washer and dryer. With a home warranty, you are required to pay premiums year-round, even if you do not use it, and it won’t cover damages if appliances were not maintained properly or if the damage is from a fire or other disaster.
Muna Dionne, your Inland Empire specialist with Coldwell Banker Realty
Your Guide to an Inland Empire Home Appraisal
You’ve found your dream Inland Empire home. Now, it’s time to cross all your “T’s” and dot all your “I’s” before it’s all your own. And one of the first items on your closing checklist is the home appraisal. So, what exactly is that?
Your Guide to an Inland Empire Home Appraisal
What Is an Appraisal?
The Inland Empire home appraisal is essentially a value assessment of the home and property. It is conducted by a certified third party and is used to determine whether the home is priced appropriately.
What Happens During an Appraisal?
During a home appraisal, the appraiser conducts a complete visual inspection of the interior and exterior of the Inland Empire home in question. He or she factors in a variety of things, including the home’s floor plan functionality, condition, location, school district, fixtures, lot size, and more. An upward adjustment is generally made if the home has a deck, a view, or a large yard. The appraiser will also compare the home to several similar homes that were sold within the last six months in the area.
What Does the Appraisal Report Include?
The final report must include a street map showing the property and the ones it was compared to, photographs of the interior and exterior, an explanation of how the square footage was calculated, market sales data, public land records, and more.
How Does the Lender Use the Report?
After it is complete, the lender uses the information found to ensure that the property is worth the amount they are investing. This is a safeguard for the lender, as the home acts as collateral for the mortgage. If the buyer defaults on the mortgage and goes into foreclosure, the lender generally sells the home to recover the money borrowed.
Muna Dionne, your Inland Empire specialist with Coldwell Banker Realty
Which Down Payment Strategy is Right for You?
You’ve most likely heard the rule: Save for a 20% down payment before you buy an Inland Empire home. The logic behind saving 20% is solid, as it shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders. But there can actually be financial benefits to putting down a small down payment—as low as 3% (conventional loan) or 3.5% (FHA loan)—rather than parting with so much cash up front, even if you have the money available.
Which Down Payment Strategy is Right for You?
The Downside
The downsides of a small down payment are pretty well known. You’ll have to pay Private Mortgage Insurance (PMI) for years, and the lower your down payment, the more you’ll pay. You’ll also be offered a lesser loan amount than borrowers who have a 20% down payment, which will eliminate some Inland Empire homes from your search.
The Upside
SFGate reported that the national appreciation value averaged between 3.5% to 3.8% in 2020. The appreciation is independent from your home payment, so whether you put down 20% of the sale price or 3%, the increase in equity is the same. If you’re looking at your Inland Empire home as an investment, putting down a smaller amount can lead to a higher return on investment (ROI), while also leaving more of your savings free for home repairs, upgrades, or other investment opportunities.
The Happy Medium
Of course, your home payment options aren’t binary. Most borrowers can find some common ground between the security of a traditional 20% down payment and an investment-focused, small down payment. Your trusted Inland Empire real estate professional can provide some answers as you explore your financing options.
Muna Dionne, your Inland Empire specialist with Coldwell Banker Realty
Staging Strategies for Your Inland Empire Home
Staging your Inland Empire home is all about putting your best foot forward for potential buyers. By highlighting its most desirable features, you can draw more interest to your home and leave a lasting impression that is sure to help you sell it more quickly. Here are what staging strategies you should keep in mind as you prepare for your next open house or viewing!
Staging Strategies for Your Inland Empire Home
Help Them Visualize it as Their Own
Make it easier for buyers to imagine themselves making your house their home by removing personal memorabilia, knick-knacks, and photos. Instead replace them with simple décors, such as paintings, nature images, and plants.
Think Sleek Instead of Comfy
Modern-day buyers are leaning toward modern, crisp, clean interiors over comfy, homey looks. When staging your home, keep a minimalist mindset and incorporate bright colors and metal accents.
Deep Clean the Small Spaces
It’s obvious to say you should clean your home before viewing, but don’t forget to cover your bases by deep cleaning the small spots. Take time to scrub porous areas like grout that may hold on to stains and baseboards where small pet hairs and dust love to cling.
Spruce Up Your Landscaping
The first impression your home gives to potential buyers is its exterior. Ensure you have a freshly mowed lawn, neat hedges and shrubbery, bright flowers, and a clean driveway.
Set the Mood
A home is so much more than just the way it looks, so you need to appeal to the other senses. Prior to having potential buyers over, set the mood by burning delicious-smelling candles and selecting an upbeat, happy soundtrack to play in the background.
When you are ready to put your Inland Empire home on the market, contact me. I’m always happy to answer any questions and offer any advice necessary to get your house on the road to “sold”!
Muna Dionne, your Inland Empire specialist with Coldwell Banker Realty
CalHFA Programs Help First-Time Home Buyers
You wish to buy a home in Southern California this year. But with a median sale price of $595,000 for a Riverside home, you worry that homeownership might be just out of reach for you. For first-time home buyers, CalHFA may be able to help you out.
First of all, if you have not owned a primary residence in at least three years prior to the date of purchase of a new property, you are considered a “first-time home buyer”. HUD includes four other scenarios where you may be considered a first-time home buyer even if you previously owned property. Check their website at the link above to see if you qualify. If you meet the criteria of a first-time home buyer, congratulations! You successfully passed the first hurdle in the race to homeownership through CalHFA.
Requirements for the Buyer(s)
After you meet the definition of a “first-time homebuyer”, you must have a minimum credit score of 660 for a low-income loan. Otherwise, you must have a 680 minimum credit score. Additionally, your debt-to-income ratio must not exceed 43% (for manual underwriting) or 45% (for automatic underwriting). In Riverside County, your household income cannot exceed $153,000. Only US citizens, permanent residents, or qualified aliens may apply. Finally, all applicants must complete and present proof of completion of a HUD-approved home buying course.
Requirements for the Property
Along with specific buyer requirements, the property you purchase must also meet certain requirements to qualify. These include a sales price of $765,000 or less. You must maintain this property as your primary residence. Also, it must be located in the United States. If located outside of Riverside County, your household income limit may be different. Talk to your CalFHA advisor if you have any questions. Finally, the property must be a single-family, single-unit residence. However, some condos, guest homes, and manufactured homes may be allowed. Again, discuss this with your advisor if this applies to the property you wish to purchase.
CalHFA Programs
CalHFA offers four programs for government-backed loans (FHA, VA, and USDA) as well as two programs for conventional loans. Just because you meet the requirements for a particular CalHFA program does not guarantee that you will be approved for a loan. Buyers must meet the lender’s requirements as well. The CalPlus FHA and Conventional programs allow you to also use additional financial assistance programs for your down payment and closing costs if needed. But you end up paying a little bit higher of an interest rate.
For more information about these programs, please visit the CalHFA website here. When you want to start looking at homes for sale in the Inland Empire, contact me.
Muna Dionne, your Inland Empire specialist with Coldwell Banker Realty
Common Home Issues Inspectors Uncover
Before finalizing your Southern California home purchase, one crucial step in the process is the home inspection, during which a licensed inspector looks at the structure, plumbing, electrical, HVAC, and more. Here are five common home issues inspectors keep an eye out for.
Faulty Electrical Systems
Out-of-date electrical systems, lack of adequate power supply, faulty circuit breakers, or exposed wiring can spell disaster for a Southern California home. Inspectors can sniff these issues out and recommend repairs to ensure the home is wired safely and properly.
Poor Drainage
If the home has landscaping that causes water to drain towards the Inland Empire home, it can cause foundation shifts or cracks, wet crawl spaces, mold, and rot. This can be incredibly costly to correct, so it’s important to determine this before going through with the home purchase.
Leaks
Inspectors look for leaks in the roof to ensure there are no damaged shingles, gutters, flashing, or other issues. They also look for any possible causes of plumbing leaks, such as broken seals, corrosion, clogs, damaged pipe joints, and more.
Mold
Showers, tubs, air conditioning and heating vents, attics, and basements are some of the most common places inspectors find mold. This can lead to various health issues for the home’s occupants, like headaches, skin irritation, and respiratory issues.
HVAC Issues
During an inspection, the inspector looks for issues that could impact your ability to heat or cool your Inland Empire home. These include blown fuses, pilot and ignition issues, damaged coils, dirty filters, gas leaks, and cracks in the ductwork and pipes.
With the inspector’s report, you can head to the closing table with more confidence and be prepared to negotiate repairs with the seller if necessary. When you are ready to start looking for your next home, contact me.
Muna Dionne, your Inland Empire specialist with Coldwell Banker Realty
