3 Real Estate Myths That Television Has Taught Us

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Shows about home buying and renovation projects can be fun to watch, but they often don’t accurately represent the realities of buying, selling and owning a home. Here are three common myths popularized by today’s TV lineup:

“Three homes will do.” On TV, a home buyer may look at three homes and find the property of their dreams. Well, anyone who has bought a house knows this isn’t the case. The number of homes a buyer must look at before finding “the one” differs for everyone, but on average, the typical home buyer will view at least ten homes before they are ready to make an offer.

“I can afford that.” Shows that present real estate purchases and renovations rarely reflect realistic prices. The fact is, markets vary greatly from place to place. The price of a home or remodel in the area in which the show was filmed may be completely different than where you live and prices could be much higher or lower.

“This will be a cinch.” While some DIY projects can be finished quickly, the amount of time most renovations take is much longer than TV would have you believe. Even if you hire professionals, unexpected delays may occur. Don’t expect to start a project on Friday and have it finished by Monday – you want it done right, not done quickly.

If you’re considering buying, selling, or renovating, the more you know, the better prepared you can be. Contact me for professional input – I’m happy to help. After all, you can’t believe everything you see on TV.

5 Buyer Turn-Offs to Avoid

When you are in the process of selling a home, you have a lot going on. You may be busy packing or researching your next home, job-searching for your new area, and doing everything you can to keep your house spotless for the next showing. With so much going on, it’s easy to let maintenance items slide, but this would be a mistake. The exterior of your home provides the first impression of your home, so put forth the effort to keep your curb appeal appealing.

Manicure the yard. Keep your yard mowed and tidy, sweep walkways and pull weeds. A well-kept yard with attractive flowerbeds and an inviting front porch are appealing to buyers. If a potential buyer does not like the way your house looks on the outside, they may never see the inside.

Clean the gutters. Clogged gutters can lead to drainage issues that may damage your landscaping and foundation. If buyers see puddles of water and debris along the roofline, they will not get a good impression of your home.

Check for unwanted critters. Inspect the attic, basement and crawl spaces for unwanted guests. This is a complete turn-off for buyers. Make sure to plug any holes or cracks that could allow animals access to your home. Consider hiring an exterminator if necessary and stay up-to-date on routine pest control.

Wash the windows. Be sure to keep your windows sparkling. Not only do clean windows let a potential buyer know that you take care of your home, they also let in light, making a much brighter and inviting space.

Stay in season. Keep furniture, plants and decor in season. This lets potential buyers know that you still care and maintain your home.

Finding the Perfect Hues for Your Home

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The one surefire way to update the look of your home is to paint. But where to begin when choosing the right color for your walls? Some people like to choose their favorite shades; while others, try to match their existing furniture or décor. But did you know that there are optimal choices for each room? When you are ready to splash a new color in your home, consider choosing a shade that suits the room’s purpose. Here are some great guidelines as you pick your paint.

Bedrooms: Green. Green is a color associated with calmness and relaxation. By choosing green in the bedroom, it may help you rest better after a busy day.

Offices: Blue. Blue is a proven productivity booster. It can help lower heart rate so you can focus and stimulate energy so you work hard.

Dining Rooms: Red. The color red is an exciting color believed to make people hungry, which makes it an ideal choice for the Dining Room.

Kitchens: Yellow. This bright, cheerful color adds to the “Joys of Cooking” and creates an inviting atmosphere, where family and guests can gather.

Living Rooms: White. The color white makes rooms appear larger and encourages relaxation, which makes it a perfect choice for lounging spaces.

Media Rooms: Black. It may sound extreme, but black, or another dark shade, allows viewers to focus on the screen as the only light in the room. The dark color reduces reflections and glare and improves viewing color.

Think these colors too extreme or just not in your color palette? Consider adding splashes of these shades in each room. Add green pillows in your bedroom or red decorations in the dining room. You may be pleasantly surprised as to how well these colors enhance the ambiance of each space.

Chapin Labor Day Festival ’19

Mark your calendars for Chapin’s 40th Annual Labor Day Festival & Parade. The Chapin Labor Day Festival promotes community pride and highlights what a great place Chapin is to live, work and play. More than 22,000 people will come to participate in various activities happening throughout the weekend. This family-friendly event first began in 1979 and features a Downtown Farmer’s Market, live music, a parade, and activities such as arts and crafts, food vendors, a cupcake eating contest, a classic car show, and a children’s play area. There is something for everyone of all ages, and the fun runs all weekend long!

Kick of the Chapin Labor Day Festival on Saturday, August 31st, at 7 AM with the Justin Pepper 5K and follow with the Chapin Downtown Farmer’s Market on the 100 block of Clark Street. Saturday night, join Tokyo Joe on Beaufort Street to benefit We Care; music starts at 7 PM. Come on Sunday evening at 7 PM to enjoy a free outdoor concert featuring Noel Lindler and the Bank Walkers – can bring lawn chairs but no coolers. Finish off the weekend with the annual Labor Day Parade and Classic Car Show on Monday. There will also be over 130 vendors, arts and crafts for all ages, and a children’s play area with three bounce houses. Don’t forget the Chapin Library Book Sale immediately following the parade at Town Hall or the AMROC Model Train Exhibit at American Legion Post 193 Building. For more information on these events, visit https://www.chapinsc.com/269/Chapin-Labor-Day-Festival-Parade.

Upcoming Events at the Columbia Museum of Art

The CMA has a new look. After more than a year and a half of renovations, the CMA is bigger and better! The CMA is a place to learn something, do something, and see something. Both adult art classes and children’s programs make learning fun, and new exhibitions come through every few months. If you have never been, or haven’t been in a while, now’s a great time to rediscover the Columbia Museum of Art at one of their great upcoming events.

Arts & Draughts, Friday, August 23rd 7:00PM
This quarterly event offers beer, live music, art, food and more with DIY art projects, scavenger hunts and unique tours. “Art, drink, and be happy!”

Play on the Plaza, Saturday, August 24th 10:00AM
Bring the little ones to play on Boyd Plaza. Held every Saturday, this FREE event lets children build and create with big, blue blocks. Supported by a grant from the Knight Foundation Fund and by a Connected Communities grant.

Gallery Tour: Wow Pop Bliss, Saturday, August 24th 1:00PM
Have an encounter with the dynamic and playful work from contemporary artists, Jimmy Kuehnle and Mimi Kato. Kuehnle uses inflatables to create touchable, interactive art; Mimi Kato portrays herself as a vast range of characters through the use of photography.

Gallery Tour: Carolina in the Collection, Sunday, August 25th 1:00PM
Discover the artistic talents of South Carolina through various works; learn about the Charleston Renaissance, Catawba poetry, and local artists organized by themes where visitors can compare ancient and contemporary art.

Play on the Plaza, Saturday, August 31st 1:00 PM
Play with the CMA’s big, blue blocks at Boyd Plaza for FREE. Fun for all ages.

Gallery Tour: Wow Pop Bliss, Saturday, August 31st, 1:00PM
If you missed last week’s tour of Jimmy Kuehnle and Mimi Kato, the exhibits are back for a command performance.

Gallery Tour: Behind the Collection, Saturday, September 1st 1:00PM
See the story behind the art through science, materials, artists’ views and lives, acquisition, and care required to maintain wondrous works of art.

Hats Off! Tuesday, September 3rd 2:00PM
A tour devoted to headwear by Docent Ann Holtschlag.

Gladys’ Gang Toddler Edition: City Street, Wednesday, September 4th 10:00AM
Explore urbanscapes in this program designed for 2-3 year olds as a way to explore art through movement and play. Program includes story time, gallery exploration, and creative activity.

CMA Freshman Mixer, Thursday, September 5th 5:00PM
Calling incoming college freshman to learn about local art, events, community resources, and the perks of being a museum member. Enjoy a photobooth, exhibitions, mocktail bar, and a scavenger hunt for prizes. Snow cones and food available for purchase.

Look ahead: Van Gogh and his inspirations coming in October!

Common Real Estate Contingencies

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A contingency is text added to a purchase agreement that specifies that certain terms must be met in order for the sale to proceed. When a seller receives an purchase agreement from a buyer, they should carefully review it for any contingencies that could interrupt the sale of the home. Contingencies can be made for a number of reasons, but here are four of the most common ones.

Financing Contingencies. Most purchase agreements will include a financial contingency that allows the buyers to withdraw from the purchase without penalty if they are unable to obtain a mortgage or close a loan. The biggest way to avoid this contingency is to sell only to buyers that have gone through the pre-approval process.

Appraisal Contingencies. A buyer will have an appraisal contingency if they are relying on a bank for funding. Generally, this is nothing to worry about for a seller. The only issue that could arise is if the appraisal comes in low, which may cause the buyer’s loan to be denied.

Home Inspection Contingencies. This clause is done to protect buyers against damage that may affect the value of the home. The buyers may bring in a number of inspectors and contractors to inspect the property and make sure there are no issues. If inspections reveal the homes needs repair, additional negotiations may take place on who pays for the repairs and who is responsible for making sure they are completed.

Home Sale Contingencies. A buyer may include this contingency if they are depending on the sale of their current home in order to purchase another one. With this contingency, sellers usually face longer time frames and bigger risk factors that the sale may stall heading into closing.

The Primary Parts of a Purchase Contract

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A purchase agreement is an essential step in the real estate process and outlines the prices and terms for the transaction. Every element of the sale is covered. The goal of a purchase contract, or agreement, is to protect both the buyer and seller and to make sure that all expectations are clear. Although purchase agreements can vary, there are certain primary components that should be included.

Property address and description. First and foremost, a purchase agreement must outline the property details such as the exact address and a clear legal description. Additionally, the identity of the seller and buyer should be included.

The mutually agreed upon sale price and terms of the sale for the home. This is the price that was offered by the buyer and accepted by the seller. The contract should also include how the buyer will be making the purchase such as paying in full with cash or down payment with a new mortgage.

Earnest money deposit amount. Earnest money is used to confirm the contract. In most cases, this money will go toward the eventual down payment. Typically, buyers can expect to pay at least $1000. Some sellers may choose to contingencies that if the sale does not go through for financial reasons, this money will be forfeited by the buyer. Likewise, contingencies can be made by buyers that the money is fully refundable if the seller does not meet the conditions of the sale.

Date of the final walk-through. The date of the final walk-through should be included on the purchase contract. This is the final inspection of the home by the buyers prior to signing all of the documents which make the sale official.

Date of the closing and closing costs. The date of the closing should be included on the purchase contract. The closing date marks the transfer of the property’s title from the seller to the buyer. Closing costs, and who should pay them, should also be included. Often, the buyer pays the entirety of closing costs, although sellers may agree to pay or split costs. The division of expenses should be clearly stated in the contract.

Home buyer’s contingencies (if any). A contingency is a provision that is attached to an offer to purchase that gives parties the right to back out of a contract under certain circumstances that are negotiated between the buyer and seller. Some typical contingencies are appraisal, home inspection, or home sale contingencies.