Palouse Living, March 2022

Palouse LIVING Your resource for buying, selling and enjoying your home on the Palouse.

March 2022 A supplement of the Lewiston Tribune & Moscow-Pullman Daily News

Inside: CURB APPEAL 101 • UPGRADES THAT MAKE CENTS

PALOUSE LIVING

2 | March 5, 2022 | Lewiston Tribune & Moscow-Pullman Daily News

Curb Appeal 101 Greenshoot Media

The outside of your home is every bit as important as what’s inside when it comes time to sell. Here are some easy ways to boost your home’s curb appeal from the experts at Moving.com.

Add greenery Make sure your plants are peppy, even if you have to add in some new additions. If it’s an off time of year for planting in your area, consider adding planters and window boxes for the same affect. The same goes for your lawn. Mow the grass, keep it raked and regularly weed flower beds.

Stay out of a door jam

Get to cleaning.

Take care of little jobs

Spruce up your front door by painting it a bold color that coordinates with the rest of your decor. And light up that new paint job with a fun, fresh new light.

Clean off any cobwebs and debris to make the space look its best. If you need more lighting on a budget, look for solar lanterns to brighten up the entryway.

Gutters, flowerbeds, siding, fascia boards and more all get a good scrub.

While you’ve got the power washer out, also do your driveway and walkways so they’re clean and bright for potential buyers.

Set aside a day or a weekend and take care of all those little repairs that have been piling up. Patch up ripped screens, replace burned out bulbs and fix any chipped or peeling paint. You’ll be surprised at the cumulative effect of taking care of all these small jobs.

Mailbox makeover Put up a new mailbox (making sure to adhere to community and Post Office regulations) for a quick but noticeable way to clean up your curb.

Upgrade your house numbers Replace any house numbers that are faded or covered by paint with fresh, new numbers in a style that matches the rest of your home.

Declutter Too much furniture makes your space look small while too little makes it look sparse and unwelcoming. Try to strike a balance with your furniture and decor, and, of course, make sure all your furniture is in good condition.

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Lewiston Tribune & Moscow-Pullman Daily News | March 5, 2022 | 3

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4 | March 5, 2022 | Lewiston Tribune & Moscow-Pullman Daily News

Moving Incentive Programs Greenshoot Media Along with the pandemic came more working from home. And, with working from home — and some companies making that arrangement permanent — comes the freedom to move wherever you want.

Towns and cities looking for people to move there are ponying up cash to get remote workers to move into town and one company, MakeMyMove, is helping them out.

Offers Some of the offers listed on MakeMyMove are eye-popping.

Morgantown, West Virginia, for instance, is giving people up to $20,000 through the Ascend WV Remote Worker Program. Montpelier, Vermont, is

offering up to $5,000 per year for two years, and, if the applicant becomes a full-time employee of a Vermont business, up to $7,500. Rutherford County, Tennessee, just outside of Nashville, is offering up to $10,000.

Other cities offer gifts instead of or in addition to cash payments. In Stillwater, Oklahoma, you can get a $5,000 moving incentive and free coffee for a year at Aspen Coffee and a free month of classes at Stillwater Martial Arts.

Newton, Iowa, outside of Des Moines, offers up to $10,000 toward a new home and an additional welcome package of restaurant and shops discounts valued at more than $2,500.

Design Your Move MakeMyMove also offers you the

chance to design a package that would attract your or your family to a city.

You can describe your ideal relocation package and MakeMyMove will work with city leaders to make it happen.

Requirements Like with any offers, there are some eligibility requirements to navigate.

Tulsa Remote, a program offering up to $10,000 to move to Tulsa, Oklahoma, has four eligibility requirements: you must be able to move to Tulsa in the next 12 months, you must have full-time remote

employment or be self-employed outside of Oklahoma, you must be 18 years or older and be eligible to work in the United States.

In exchange, Tulsa Remote will give you upfront money to help with relocation expenses, a monthly stipend and the balance when you’ve finished your first year in Tulsa. You’ll also get space at a coworking community in downtown Tulsa, and a curated list of apartments in downtown that feature discounts just for Tulsa Remote applicants.

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Staging Your Home for Sale

Greenshoot Media

Putting your home up for sale is exciting and scary.

There are going to be people in your space, judging your tastes and decor. Take some of the stress out of the process — and possibly take home a little more profit — by staging your home for sale.

Outside You don’t ever get a second chance at a first impression. So make the outside of your home look as clean and welcoming as possible. Power wash the siding, roof, fascia board and gutters. Give your shutters and front door a fresh coat of paint that is neutral but also coordinates with the rest of the exterior colors.

Replace faded house numbers, doormats and any lighting that’s not working properly. Freshen up the mailbox and clean up the flowerbeds.

Inside Start by clearing out clutter.

• Kitchen: Pack up small appliances that never see the light of day and the good china and send them off to storage.

Clean out the pantry and get all the clutter off your countertops.

The goal is to show off how much

space there is. Clean the cabinets and appliances, and consider putting a fresh coat of paint on the cabinets in a classic white.

Change outdated hardware and any faucets that have seen better days.

• Depersonalize: Potential buyers need to be able to see themselves in your home, and they can’t do that with all of your mementos and pictures around.

Take down family photos, kids’ artwork and personal collections and replace them, if needed, with generic artwork that will allow buyers’ imaginations to run wild.

• Closets and cabinets: Clean them out and, for what remains, stash it in matching baskets and bins. Add shoe racks and undershelf baskets to show off your storage space, and add sachets of potpourri so that any musty places smell fresh and clean.

• Bathrooms. This is a tough room in any house, but it’s essential that it looks its best for potential buyers. Clean it, clean it again, then clean it some more.

Tackle hard water stains, get rid of mold and toss old cosmetics and products. Get new shower

curtains, rugs and bathmats and attend to your grout, making sure it’s either clean or treated so that it covers old staining.

Recaulk the bath tub or shower, and outfit the room with fluffy, sparkling white towels and fancy soaps.

SERVICEMASTER/MOSCOW

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6 | March 5, 2022 | Lewiston Tribune & Moscow-Pullman Daily News

Finding a Real Estate Agent Greenshoot Media

TEAM IDAHO REAL ESTATE

Real estate agents help you with buying or selling your home.

They are professionals who know the ins and outs of the industry, including the local and state regulations applicable to real estate transactions in your area.

One sure-fire way to find a real estate agent is to ask friends and family members who have bought or sold properties recently. Ask them what they liked about their agent, what they didn’t like and what they wished they’d known first. You can also look for real estate signs in your community, attend open houses and call brokerages that operate in the neighborhoods that you’re interested in.

Real estate agents can specialize in buying, selling or they might be comfortable on both ends of the transaction. Depending on what kind of transaction you’re looking at, you may want an agent who just does one transaction or the other. If you’re both buying and selling, you may want an agent who can do both.

Here are some questions to ask your potential agent from Realtor.com:

1. What services do you offer?

2. What type of representation do you provide?

3. What experience do you have in my immediate area?

4. How long are homes in this neighborhood typically on the market?

5. How would you price my home?

6. How will you market my home?

7. What is your fee?

8. What disclosures should I receive?

Make sure to outline your expectations for your real estate buying or selling process up front so that you and your agent are on the same page. Specify how you’d prefer to communicate with your agent and make sure your objectives are clearly defined to avoid conflict.

When you have meetings with your agent, be on time and polite, and expect the same from your agent. Remember that your agent will be your advocate and voice – no matter if you’re buying or selling – in a potentially long and complicated transaction. Make sure that they’re someone you can work well with and that you’re of the same mind on the major issues you may confront in your purchase or sale.

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Lewiston Tribune & Moscow-Pullman Daily News | March 5, 2022 | 7

Real Estate Terms to Know Greenshoot Media Buying and selling real estate has a lingo all its own. Before you embark on a real estate adventure, it’s important to know what these terms mean.

Keep reading for a quick vocabulary lesson.

Approved for short sale: A homeowner’s bank as approved a reduced listing price on a home and the home is ready for resale.

Back-end ratio: One of two debt-toincome ratios that a lender analyzes to determine a borrower’s eligibility for a home loan. This ratio compares the borrower’s monthly debt payments to gross income.

Buyers market: When homes for sale outnumber buyers. Homes sit on the market a long time and prices drop.

Cash-value policy: A homeowners insurance policy that pays the replacement cost of a home, minus depreciation, should damage occur.

Comparative market analysis (CMA): An in-depth analysis that determines

the estimated value of a home based on recently sold homes of similar condition, size, features and age in the same area.

Comps: Comparable sales of homes in a given area in the past six months. A real estate agent will use this to determine a home’s value.

Conventional loan: A home loan not guaranteed by a government agency such as the FHA or the VA. Debt-to-income ratio: A ratio that compares a homebuyer’s expenses to gross income.

Earnest money: A security deposit made by the buyer to assure the seller of their intent to purchase.

Fannie Mae: A government sponsored enterprise that helps ensure a reliable and affordable supply of mortgage funds.

Foreclosure: A property repossessed by a bank when the owner fails to make mortgage payments.

Freddie Mac: A government agency that provides a constant source of mortgage funding for housing markets.

Listing price: The price of a home as

set by the seller.

Loan estimate: A three-page document sent to an applicant three days after they apply for a home loan that includes loan terms, monthly payment and closing costs.

Loan-to-value ratio: The amount of the loan divided by the price of the house.

Multiple listing service: A database where real estate agents list properties

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Origination fee: The fee charged by the broker or lender to initiate and complete the home loan application process.

Piggyback loan: A combination of loans bundled together to avoid private mortgage insurance.

Sellers market: When buyers outnumber homes for sale. Bidding wars are common.

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8 | March 5, 2022 | Lewiston Tribune & Moscow-Pullman Daily News

Upgrades that Make Cents

Greenshoot Media

There are some upgrades that make good sense — and cents — when you’re thinking about putting your home on the market and some upgrades that you’ll never see your money back on.

Here are some tips for upgrading your home before a sale from HGTV.

Where To Spend You’re less likely to recoup your investment in a kitchen or bathroom remodel than if you spent your money on basic home maintenance such as fixing a leaky roof or replacing your siding, HGTV says.

According to Remodeling Magazine,

replacing siding recouped 92.8% of its cost. Minor kitchen remodels, less than $15,000, returned about 92.9%, and replacing roofs and windows netted about 80% at resale.

“If the roof is leaking, buyers won’t get beyond that,” Ron Phipps with Phipps Realty in Rhode Island told HGTV. “I don’t care how awesome the kitchen is.”

What you get back on your investment depends on a lot of factors, though, the network says.

These include the value of your house, the value of the houses in the neighborhood, the housing market where you live and the quality of the remodel. For instance, you don’t

install a $2,000 dishwasher in a $100,000 home. And don’t remodel the kitchen if your house is the only one in the neighborhood with just one bathroom. You’d be better served adding another bathroom instead.

Kitchens and Baths If you’ve taken care of your basic maintenance, kitchens and baths are a hot area to spend.

Remodeling Magazine says that a Baltimore bathroom remodel that cost $9,400 recouped 182% of its cost at resale.

Kitchens and baths are “the most expensive areas of the home in terms of construction,” Los Angeles

architect Steve Straughan said. “And they’re where people spend time in their homes.”

Remodeling in these areas should focus on the traditional, but still keep an eye on trends. HGTV says that walk-in showers have replaced whirlpool tubs as a must-have in the master bath, so rip out that dated tub and splurge on a shower.

But if you’re not planning on moving soon, invest in remodeling projects that you’ll enjoy.

“Even if you get less than 100% of your money back,” Sal Alfano told HGTV,” you’re really ahead of the game over time because you get the use of all that space.”

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Lewiston Tribune & Moscow-Pullman Daily News | March 5, 2022 | 9

WELLS FARGO HOME MORTGAGE/LEWIST

Home financing that works for you There are many choices when buying a home, from the neighborhood to the number of bedrooms. You want a house that fits your needs, and home financing that does, too.

Wells Fargo can help with a wide variety of loans and mortgage programs that you may benefit from: • First-time homebuyers • Buyers who need a larger loan amount • Military members and veterans

We’ll review your information and let you know what options are available.

Let’s connect.

Jesse Goodwater Home Mortgage Consultant Office: 208-883-5659 Cell: 509-956-9200 jesse.a.goodwater@wellsfargo.com www.wfhm.com/jesse-goodwater NMLSR ID 259511

• Buyers of newly constructed homes • Buyers with other unique needs

Maureen H. Guido Home Mortgage Consultant Office: 509-334-3972 Cell: 509-339-3206 maureen.guido@wellsfargo.com www.wfhm.com/maureen-guido NMLSR ID 418677

Information is accurate as of date of printing and is subject to change without notice.

Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. © 2021 Wells Fargo Bank, N.A. All rights reserved. NMLSR ID 399801. AS5427279 Expires 10/2022

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10 | March 5, 2022 | Lewiston Tribune & Moscow-Pullman Daily News

How to Cut Costs on Home Renovations Metro Editorial

Do you still have an avocado green kitchen? Is your living room dank and dark? Perhaps there is only one bathroom for a family of six? Answering yes to any of these questions could serve as the catalyst for a home renovation project.

Home improvement projects come in all shapes and sizes - some with huge budgets and others that are more cost-conscious. Regardless of what homeowners hope to achieve with their renovations, a common goal across any price point is a desire to save as much money as possible. Home renovations can be expensive, but there are ways to cut costs.

Assess the merit of the project Remodeling magazine annually publishes a “Cost vs. Value Report” that lists the average cost and return on investment homeowners can expect of various types of projects. If you’re planning to sell your home soon, it may be best to focus on repairs and renovations that will generate the most substantial ROI.

Hire a contractor Even avid do-it-yourselfers can sometimes benefit from a contractor’s expertise, particularly for complex tasks. Don’t waste money by trying tough jobs yourself; rely on an experienced contractor who can get supplies for less money and will do the job right the first time. Compare bids from several different contractors and figure out the best value.

Refurbish existing features Rather than a complete gut and rebuild, figure out where you can revitalize existing fixtures and more. For example, refinishing existing cabinets can save you up to 50 percent compared with the cost of new cabinetry, according to Angi (formerly Angie’s List), a cost comparison and business review resource.

Choose midgrade materials Certain materials may be all the rage but they come with a higher price tag.

Angi reports that granite counters could be $60 to $100 per square foot. However, a composite or laminate that looks like granite and wears well may be $10 to 40 per square foot. Figure out where you can choose middle-of-the-road materials for maximum value.

Avoid peak seasons You’ll pay more to install a deck or a pool right before the outdoor entertaining season. There also may be a premium to get work done right before a major holiday. Therefore, consult the calendar to find an off time for a renovation and book it then to save.

Do some prep work You might be able to save by doing some of the demolition and preparatory work yourself. For example, you can tear up old carpeting before the installation of new tile floors. Perhaps you can mend and patch up walls before a paint job.

Buy a display itemFormer showroom kitchens and baths often are sourced at a fraction of their recommended retail prices, according to Real Homes, a home remodel guide based in the United Kingdom. Retailers often update their displays and you may score existing showroom items at a discount.

Renovations can be expensive, but there are many different ways to cut costs.

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Lewiston Tribune & Moscow-Pullman Daily News | March 5, 2022 | 11

Renting Through an Agent Greenshoot Media Finding an apartment — especially if you’re trying to do it from afar online — is trying. Did you know that real estate agents don’t just help when you buy and sell a home but with rental properties, too?

An agent can help you sift through rental listings and find the right landlord and property for you and your family.

someone who can help them understand what they’re signing when they sign a lease.”

You can find agents who work with renters through online searches, but you can also ask friends and family members, even if they don’t live in that town. Real estate agents have networks they can tap into to find agents in other cities, states and even countries.

How Much Do They Charge?

What Do Agents Offer?

Real estate agents are intimately familiar with the cities and neighborhoods they serve. They can help you find the right place for you and your family to settle in your new town and will even help you negotiate with the landlord and understand your lease.

“Most tenants can find a place without a real estate agent,” Dillar Schwartz, a real estate agent in Austin, Texas, told Realtor.com. “But they forget to seek out

When you’re buying or selling a home, the real estate agents’ fees are often baked into the transaction, meaning you never usually know its there.

When facilitating rental property, you may have to pay the brokerage fees for your real estate agent’s fees, though in some cases ,the landlord will pay the fees for a desirable tenant. Apartment locator service fees are almost always paid by the landlord.

Make sure you understand the

REMAX CONNECTIONS

brokerage fees and what they cover.

In some agencies, even if you find the property on your own, you’ll need to pay a fee to the landlord’s broker for listing the property. Bear in mind that these fees sometimes also cover credit

checks and applications fees. Fees can be as low as $50 to $75, Realtor.com says, but a more common rate is a month’s rent or 15% of the annual rent on the apartment.

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12 | March 5, 2022 | Lewiston Tribune & Moscow-Pullman Daily News

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