Upstate Real Estate & Home Services May 2019

Real Estate UPSTATE

& HOME SERVICES

Virtual reality: the future of real estate Page 3

Five signs it’s time to replace your siding Page 12 VOLUME 2 | ISSUE 5 | MAY 2019

How to use ‘Living Coral’ in your home Page 14

Real Estate UPSTATE

& HOME SERVICES

A Publication of The Daily Star

102 Chestnut Street, Oneonta, NY 13820 607-432-1000 • www.thedailystar.com PUBLISHER Fred Scheller fscheller@thedailystar.com (607) 441-7214

ADVERTISING DIRECTOR Valerie Secor vsecor@thedailystar.com (607) 441-7235

GRAPHIC DESIGNER Tracy Bender

Virtual reality: the future of real estate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Three things you need to know about homeowners’ associations. . . . . . . . . . . .

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Pre-approved versus pre-qualified: what’s the difference?. . . . . . . . . . . . . . . . . . . . .

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Taking the temperature of the housing market: hot versus cold markets. . . . . 7 Three climbing plants for your garden. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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The truth about pets abandoned on moving day. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Five signs it’s time to replace your siding.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 How to use ‘Living Coral’ in your home.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Should you hire a general contractor?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 How to pack and move your computer like a pro. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Benefits of adding a solarium to your home.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

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| UPSTATE Real Estate & Home Services | May 2019

Virtual reality: the future of real estate

Virtual reality (VR) is a powerful tool that’s revolutionizing the real estate industry. It refers to the computer simulation of three-dimensional environments that can be interacted with by a person. Here are three key applications of VR in the real estate industry.

1. Virtual property tours. VR can be used to allow people to virtually tour countless properties from one location. By simply putting on a VR headset, you’ll be able to experience immersive, 3D walkthroughs of dozens of properties so you can decide which ones are worth visiting in person.

2. Virtual home staging. Studies show that furnished homes sell better than unfurnished ones, but investing in furniture and decor for staging an empty house is costly. Using VR technology allows

you to experience what a property will look like when it’s completely furnished.

3. VR architectural visualization. VR can also be used to market properties that haven’t been built yet, such as new condo developments. With VR tours, interested buyers can see what the homes will eventually look like.

VR in real estate is a game changer for buyers and agents alike. For buyers, it saves time and allows them to browse for homes across great distances.

For real estate agents, VR tools pay off in terms of heightened global outreach, increased sales and more satisfied clients. It’s predicted that VR will become commonly used in the real estate business in the years to come.

UPSTATE Real Estate & Home Services

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Three things you need to know about

homeowners’ associations

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hen you buy a condo or single-family home that’s part of a planned development, you’re often required to join a homeowners’ association (HOA). An HOA is an organization that’s in charge of the regulation and upkeep of private properties

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in a residential community. Here are three things you need to know before joining one.

1. Fees. HOA fees range anywhere from $100 and up per month. It’s important to consider these fees when deciding whether you can afford to buy a home.

May 2019

2. Rules. Some HOAs have strict rules dictating how you maintain your property. Find out what types of changes you’re allowed to make to the appearance of your home and yard and whether you’re allowed to have pets or rent out your property.

3. Services. You also need to know exactly what you’re paying for in terms of amenities. Depending on the community, the HOA may perform only basic maintenance tasks or provide bigger-ticket services such as free access to a pool or community clubhouse.

It’s also a good idea to talk to members of the HOA to find out how the organization is run. Even better, attend an HOA meeting to learn more about the community you’re thinking of joining.

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UPSTATE Real Estate & Home Services

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May 2019 | 5

Pre-approved versus pre-qualified:

what’s the difference?

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hile the terms pre-qualified and pre-approved are sometimes used interchangeably, they in fact refer to two different things. Here’s an overview of the differences between a mortgage pre-qualification and a mortgage pre-approval.

The pre-qualification stage allows you to discuss different mortgage options with your lender and get a sense of your price range. How­ever, the pre-qualified amount is just a rough estimate of how much you might be approved for.

Mortgage pre-qualification

Getting pre-approved for a mortgage is a more involved process.

You’ll need to fill out an official mortgage application and supply the lender with the necessary information to thoroughly evaluate your financial history and credit score.

This process allows the lender to tell you the mortgage amount for

To get pre-qualified for a mortgage, a lender needs to evaluate your financial situation — including your income, assets and debts — to determine how much you can afford to borrow. It can usually be done for no cost, often over the phone or the internet.

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Mortgage pre-approval

May 2019

which you’ll be approved. You may also be able to lock in an interest rate.

When you get pre-approved, your lender will provide you with a letter explaining the loan you’re eligible for. Being pre-approved for a mortgage shows sellers you’re a serious contender when making offers.

Keep in mind that even after you’ve been pre-approved, you’re still not guaranteed to receive a loan. Once you’ve found the house you wish to buy, your lender will need to evaluate you and the property in question before committing to a loan amount and interest rate.

Taking the temperature of the housing market:

hot versus cold markets

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purchase a home than houses available. This means that buyers will likely be willing to pay more than the listing price. Hot markets are also known as seller’s markets.

Cold markets

A neutral market is when supply and demand are in equilibrium. It won’t favor either buyers or sellers.

f you’re getting ready to buy or sell your home, it’s important to check the temperature of the housing market in your area to make sure the timing is optimal. Here’s what you need to know about how supply and demand determines market temperature.

The housing market is cold when there’s more supply than demand. This is the best time to buy because there are more homes available than buyers looking to purchase them. This means that you’ll have a greater selection to choose from and that sellers will be more willing to negotiate a lower price.

You may even be able to purchase your dream home for less than the listing price.

For all the above reasons, cold markets are also known as buyer’s markets.

Hot markets The housing market is hot when there’s more demand than supply. This is the best time to sell because there are more buyers looking to

Neutral markets MOI Supply and demand in real estate markets is measured in terms of Months of Inventory (MOI). MOI is calculated by dividing the number of homes that were for sale during the past month by the number of homes that were sold during this time period.

The resulting number is an estimate of how long it will take to sell all the homes for sale.

In a cold market, the MOI is six months or more. In a hot market the MOI is six months or less. During a neutral market, three to six months’ worth of inventory is on the market.

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Three climbing plants FOR YOUR GARDEN C

limbing plants lend a whimsical look to your property.

They’re also ideal for hiding fences and creating privacy in your yard. Here are three beautiful vines that will undoubtedly look great in your garden.

1. Climbing hydrangea (Hydrangea petiolaris) Once this vine reaches maturity, which may take up to five years, depending on the climate, it produces delicate white flowers. Its dark green leaves turn yellow in the fall, and the bark turns red in the winter.

Climbing hydrangea can grow in shady areas, but will flower more in the sun.

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May 2019

2. Hops (Humulus lupulus) Though ideal for covering a pergola or trellis, beer lovers will likely appreciate growing their own hops for entirely different reasons.

If you’re planning on harvesting the cones to make your own home brew, make sure you choose a female plant.

Also, know that hops is part of the Cannabaceae family, meaning that this plant may give off an aroma similar to marijuana, its close cousin.

3. Boston ivy (Parthenocissus tricuspidata) This beautiful vine looks great all year round, but will really turn heads in the fall. That’s when its green leaves become a brilliant red. Despite its name, Boston ivy is actually native to Asia.

People growing indigenous plant gardens will want to opt for Virginia creeper (Parthenocissus quinquefolia) instead. It’s native to most parts of North America and just as lovely as Boston ivy.

While vines can make a lovely addition to your landscaping, it’s best to avoid letting creepers grow up your home’s walls.

They can cause damage to the structure and be difficult to remove. Consider placing a trellis in front of a wall instead.

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UPSTATE Real Estate & Home Services

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May 2019 | 9

The truth about pets abandoned on moving day

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t’s a sad truth that every year countless dogs and cats are abandoned by their human companions.

Frequently this happens as the result of a move, and in particular, when a person’s new residence doesn’t allow animals.

Abandoned pets Abandoning dogs and cats is illegal in most states.

Nevertheless, many domestic pets are cast-off, either by releasing them into the wild or putting them out on the street. Unfortunately, starvation, and ultimately death, is the fate that typically awaits them.

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May 2019

Pets in shelters Pets that are forfeited to shelters don’t always fare much better; a circumstance that’s largely due to the fact that animal shelters across the country are grossly overcrowded.

According to the Humane Society of the United States, there are six to eight million dogs and cats that enter shelters each year. The organization approximates that about three million of these animals are euthanized, despite the fact that around 80 percent of them are fit for adoption.

If you want to welcome a dog or cat into your new home, consider adopting one from your local animal shelter.

But even pets that aren’t euthanized may face difficulties. Both dogs and cats tend to form strong bonds with their owners, and when this bond is severed, they’re likely to experience a great deal of stress and sadness. It isn’t uncommon for animals in shelters to be depressed to the point of refusing to eat.

What you can do If you’re in the process of looking for a new home, make sure you find a place that accommodates your pet. And if you want to welcome a dog or cat into your new home, consider adopting one from your local animal shelter.

If you’re in the process of looking for a new home, make sure you find a place that accommodates your pet.

UPSTATE Real Estate & Home Services

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By replacing your siding when necessary, you’re protecting your home and increasing its value at the same time.

FIVE Siding is one of the most important parts of your home’s exterior. Not only does it protect the structure from the elements, it also showcases your house’s style. While you may wish your siding would last forever, it will eventually need to be replaced. Here are a few signs you need new siding.

1. Visible damage. Numerous things can damage siding

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signs it’s time to replace your siding including dirt, the weather and moisture. If only a few panels are affected, you might be able to replace them. But if the damage is widespread, you’ll need to replace the whole thing.

2. Peeling paint indoors. If you have water damage on your interior walls, it might mean that your siding is no longer effectively keeping

May 2019

moisture out of your home.

3. Your bills have increased.

Siding plays a big part in insulating your home. If you notice a drastic change in your bills, your siding may have an air leak. In this scenario, your heating and cooling system works extra hard to regulate your home’s temperature, which ultimately results in costlier utility bills.

4. Mold or mildew. Fungus or mold in or near the seams of your siding may indicate water infiltration.

5. It looks faded and old. Replacing your siding can drastically increase your home’s curb appeal.

Among home renovations, new siding has one of the highest returns on investment.

When it’s time to replace your siding, be sure to take action sooner rather than later. The longer you wait, the more likely it becomes that other parts of your home will get damaged as a result of having deteriorated siding.

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UPSTATE Real Estate & Home Services

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May 2019 | 13

How to use

‘Living Coral’ in your home

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ith summer almost here, the time of year is just right for decorating with Pantone’s color of the year, Living Coral. This pink-orange hue is bold, vivacious and perfectly suited to the season’s most festive occasions. Here are a few ideas for using it in your home.

• As an accent. A little Living Coral goes a long way. Add one or two throw pillows for a pop of color that screams summer. For a bolder look, paint a dresser or upholster a chair.

• On your walls. A splash of this color can brighten up a windowless room or create an energizing environment for a nursery or playroom. If you’re reluctant to use it for an entire room, consider painting just one wall.

• Outside. Does your front door need a makeover? Then give it a fresh coat of paint.

Living Coral makes a big impact and will increase your home’s curb appeal.

No matter how you use it, this lively shade is sure to brighten your home.

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May 2019

No matter how you use it, this lively shade is sure to brighten your home.

THIS PINK-

MOST FESTIVE OCCASIONS. UPSTATE Real Estate & Home Services

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ORANGE HUE IS BOLD, VIVACIOUS

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Should you hire a general contractor?

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f you’re planning a major renovation or you want to build a new home, you should consider hiring a general contractor (GC) to manage the project. If you do, the GC will be responsible for supplying materials and equipment. They’ll also oversee the hiring of specialized subcontractors such as plumbers, electricians and carpenters. Plus, they’ll take care of administrative tasks like obtaining the proper permits, acquiring the requisite insurance and paying subcontractors.

While managing the project on your own may seem doable, a contractor has the experience and resources to execute the work more efficiently.

Most GCs have a short list of professionals they’ve worked with before and trust, saving you the guesswork of finding the right person for each job.

And, because they’re licensed pros, they can get materials for your project at discounted prices only offered to those in the industry.

Managing a renovation or construction project is a full-time job that requires experience in order to do it well. If you aren’t able to take time off from work, or if you don’t have experience in project management, you may run into problems. But by hiring a general contractor, you’ll be sure that your construction project gets completed properly and on time.

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May 2019

How to pack and move your computer like a pro

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acking a computer requires special care. Not only is this fragile item expensive to replace, it also likely holds invaluable personal data including your documents, photos and videos. Here’s how to get your computer from point A to point B without a hitch.

Back up your data Before you begin packing, you should back up your data. This means getting an external hard drive (if you don’t already have one) and transferring all your data onto it.

Pack your computer When it comes to packing a computer, cushioning is key.

First, you’ll want to get hold of a thick-walled box as near to your computer in shape and size as possible.

Before sliding in your computer, cover it with a protective material such as bubble wrap, packing paper, towels, sheets or blankets (but nothing that might scratch the screen).

After putting your computer into the box, stuff extra cushioning around the computer so that it can’t move around.

Lastly, make sure to clearly label the box as fragile.

If your computer has a detached hard drive tower, pack it separately, using the same technique.

Move your computer If you’re nervous about your computer getting tossed around in a moving truck, you can take it in your car. If this isn’t an option, you can also get it shipped.

Shipping is the pricier option but

more secure. Your local shipping company has the materials and expertise to safely transport your computer.

And, by insuring your package with them, you’ll be reimbursed in the off chance that something should happen to your computer en route to your new home.

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Benefits of adding a solarium to your home

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solarium or sunroom is an indoor space that has an abundance of natural light.

This is thanks to the structure having oversized windows or walls entirely made of glass. If you’re thinking about getting one, here are some of the benefits you stand to enjoy.

Extra living space. A solarium can increase your home’s usable space. Many people use theirs as either a breakfast nook, home office or exercise room.

Natural light. A solarium 18

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May 2019

allows sunlight into your home. Studies have shown that exposure to natural light can help you sleep better at night, increase your productivity and improve your mood.

All-season gardening.

Do you miss your herb garden in the winter months, or have you struggled to protect your veggie patch from pests? With a solarium you can have a healthy and vibrant garden all year long.

Solariums and sunrooms are great places to relax and enjoy life. If you have a porch or patio you don’t use much, consider converting it.

The terms are often used interchangeably, but solariums and sunrooms are different. A solarium features walls and a ceiling made of glass, while a sunroom is a room with large windows but a regular ceiling. Both have advantages and disadvantages, so it’s up to you to determine which works best for your home.

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