Kendra Ruminer's Two Cents of Real Estate

Take A Peek At Los Alamos, New Mexico

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Title Insurance 101

July 9, 2020 /

If you’ve ever purchased a home, you’ve heard of title insurance. You’ve probably paid for it. You’ve probably also grumbled a bit about the added cost. But this is only a one time fee. Usually LESS THAN 1% of the purchase price of your home. Of course, that can still feel like a ton of cash to lay out at closing when it’s easy to feel pinched about the cost of purchasing a home.

What is a title anyway? Why do I need someone to guarantee it? The house isn’t going anywhere, right?

Let’s start by talking about what title insurance actually is.

According to The Street, a popular financial blog, “more of a risk prevention than a risk assumption (the model for most insurance policies) form of insurance, title insurance covers the history of the policy-holder’s home, examines the history for any trouble spots that could damage the value of the home, and highlights those potential issues before the buyer purchases the home”.

So what does that really mean? It means that you’re paying a company to research the title of the home you’re purchasing just in case there is something wonky in the history of that property.

Let’s bring that back around to our community of Los Alamos. Think about how many homes were either built, brought here, or somehow fabricated back when the Atomic Energy Commission was still in charge. Think about the chain of owners and banks and lenders and foreclosures and lien releases and… (I really think you get the idea). There are other homes that were damaged and then reconstructed after the Cerro Grande fire.

Now think about the way a mortgage works. Even if a lender only owns a pile of ash, they still want a piece of that pile. And this is before taking into account the homes that pass from one party to the next via a will or some kind of inheritance situation.

  • A home’s title includes:
  • The property abstract (sometimes called a chain of title)
  • A description of any easements or rights of way. (or maybe a note about national forest access)
  • Liens against the property

The title is a public record held in a clerk’s office and is technically available to anyone who is interested. Considering what the title is and how many different things affect it, you might imagine why having a knowledgable and licensed title expert to review the title before you purchase a property is not only a requirement, but a really good idea.

“Okay, so can I just pay for a title INSPECTION?”

Nope, the insurance part comes in when or if you’ve owned your home for five years and some undisclosed heir shows up and claims you’re squatting on his inheritance. Or (a far more common occurrence) when the county does a tax audit and you discover there was an escrow account error ten years ago and the previous homeowner’s lender neglected to pay the property taxes. Yep. Guess who becomes responsible for those back taxes?

That’s right. The current homeowner.

So, next time you’re buying a new home or you’re speaking with someone who is and there is a discussion about closing costs and title companies, and title insurance, feel free to chime in with all you now know about why title insurance is important. After all, nobody wants to be left holding the bag when it comes to an unexpected financial lien against your home. Your home is supposed to be your safe space. Title insurance can make sure that it is fully YOURS.

Could You Quarantine In This Space?

July 1, 2020 /
The Coronavirus Has Changed What Buyers Are Looking For In a House

I think we’ve all come to the honest realization that the world we once lived in is gone. Things have changed. Everything has changed. The way that we hang out with our friends. The way that we hang out with our family… Wait. The way that we ONLY hang out with our family.

All of that togetherness is changing the way people live their lives and the things they value in a home. Let’s look at a few things that are becoming far more important to Average Joe Buyer.

Kitchens

So many times in the past, I’ve seen busy families who purchase homes because of their proximity to a school district or because the bedrooms are big or the garage and driveway has extra slots for the extra cars belonging to a family full of teenagers. Kitchens were useful because they contained conveniences like the toaster over, the microwave, and that mega juicer you just had to have but rarely use.

Now? The lack of restaurant options, especially in small communities like Los Alamos, means that homeowners are using their kitchens in ways they’ve not had to in ages. Even if you’re getting takeout and bringing it home, the kitchen is seeing far more traffic (or the dishwasher is!) than ever before. Suddenly, kitchens matter. Buyers want big eat in kitchens with tons of space, pantries that can handle kids who are no longer eating at school, and up to date appliances. The kitchen has suddenly become important to everyone and not just to a few home gourmets.

Home Office

Telecommuting is the new normal. No doubt about it. And considering the direction things are moving, there’s no doubt that this isn’t likely to change anytime soon. That means the home office has become the most important thing that anyone thinks about. The availability of any space that could be turned into a home office in a pinch has just become your home’s biggest selling point. Have an atrium or a little breakfast nook? Boom! Extra office. Have a spare bedroom? Boom! Instant school room. Yeah. Don’t forget those kiddos. Homes are now doing triple duty. Schoolroom. Workplace. And my personal favorite. Daycare.

Multiple Living Areas

All of a Sudden One Family Room Just Isn’t Enough!

In newer homes in places like Albuquerque, Rio Rancho, and Las Cruces, and even some of the newer housing developments here in Los Alamos County, a second living area or a bonus room is a given. Most of the homes in our community were built long before this was a popular concept. Not that there haven’t been tons of renovations or rehab projects with just that idea in mind, but all of a sudden buyers are VERY interested in homes that boast a second living area. After all, families that live and work together eventually need a break! What a great thing to have a basement or an upstairs loft where you can send the kids to enjoy their screen time while you binge watch Outlander and try to relax from your long day of pretending that you were super productive while working at home in a job that was never designed for a telecommute.

Outdoor Living Spaces

The backyard or side yard in some cases, has become a viable new place to hang out when all of the living space inside becomes either full of kids, or just boring. Patios and decks are suddenly far more attractive to potential buyers than ever before. Want to wow them when they come to view your house? Arrange your outdoor furniture to invite a buyer to imagine lounging after work with a book. Add a barbeque grill and I bet you’ll hook them in a second.

At the end of the day, our lives will never go back to the way that they were. And that means the real estate market – even the one in Los Alamos – is going to have to change too.

50 Shades of Greige

June 26, 2020 /

Yes. Greige. It’s a thing. A cross between gray and beige. It’s an indicator that the range of taupe and beige colors we used to see in the last decade have been fazed out in favor of the new, hot color or “lipstick” for your home. Gray.

I can see you scratching your head right now. Gray lipstick? Sure. It seems absolutely ridiculous, but interior and exterior home colors are a big deal when it comes to the real estate market.

Your Home. Your Rules. Your Color Choices.

Hey, you know what? If you want that purple wall in your bathroom, that is all up to you. Until you sell your house. That’s when it becomes an issue because buyers have a difficult time thinking about anything other than your design choices. In my last blog post, I talked about the benefits of staging a house for sale. What many people don’t realize is that your paint choices are all part of the staging. A BIG part.

White, Gray, & Neutrals with a splash of color are best.

What The Cool Kids Are Doing

I know what you’re going to say.

“Kendra, Los Alamos is a seller’s market. I could paint the interior of my house periwinkle and people would still buy it!”

You’re not wrong, of course. What you’re missing is the nuance of the seller’s market. The tweaks and extra effort that someone selling their home can make in order to turn their house around and get it sold in a week instead of six months. Not just sold, but sold for a top dollar price that will make it possible to maximize the investment made when the home was purchased.

The other part of selling a home in Los Alamos is that many of you bought your homes during a previous boom when the prices were sky high. Our property values fluctuate based upon things like Laboratory contracts in ways that are absolutely unlike anywhere else. If you are one of those homeowners and you’re finding the need to move either because you’re upsizing, downsizing or you’re moving to a new place to start the next chapter in your life, you’ll need to squeeze every penny out of your house to save your initial investment and hopefully come out ahead.

This means hiring a professional painter or rolling up your sleeves and doing a DIY job on your home’s “lipstick”. This can be the difference between meeting your goals or consistently getting offers that are below what you’re comfortable with.

Space Still Sells

A beautiful light gray is cool and peaceful. It can make a smaller room look spacious and it highlights the natural light from your windows. Considering a good number of the homes in our community have rather odd dimensions and unique floor plans that have undergone numerous renovations over the years, gray can be the answer to making your space look cool, modern, and inviting.

Taupe is another neutral color. And before you start reminding me that I just said brown was out, keep in mind that taupe doesn’t have to lean toward brown. There are many modern shades of taupe that maintain the warmth of a brown tone while bringing in grays, blues, or even lavender for a sophisticated result that complements our Southwestern style quite nicely.

White. Not institutional white mind you, but something that has a nice undertone that sticks with the cool, restful, and spacious theme you want to set in your home. Absolutely avoid yellows in your white. There was a yellowish off white color in the nineties called Navajo White that wound up in a huge number of homes here in Los Alamos. Using an off white with yellow undertones will immediately make your home look dated. So, it might be white. But you’re still going for blue or gray tint in order to keep things modern.

Simple. Spacious. Modern. Even if its not your style, it sells.

We All Like Cool Inviting Spaces

Even if you’re not selling your home and you’re looking around wondering why you feel so cramped and tense in your living space, consider lightening your color scheme with grays and blue tinted whites. You might be surprised how a bit of fresh lipstick can help you feel differently about the home you have. Stick around and keep checking my blog for new ideas to make your home not only a place you love to live in, but a solid investment for the future.

What’s Appealing About a Curb?

June 12, 2020 /

Curb Appeal is probably one of the most common things people think about when it comes to buying or selling a home. But curb appeal isn’t just for homes on the market. It’s about showing your home at its best to anyone who passes by. Most importantly, its about maintaining your home value. If that sounds important, here are a few things you should keep in mind.

Have you ever pulled up to your house and parked your car after a long day at work and thought to yourself that you should really put away the lawn mower? I’ll bet there’s something that catches your eye. Something negative. Here’s a thought. Your neighbors probably sense that negativity too. So do people passing by. They just don’t immediately zero in on the lawn mower or the pile of branches you pruned three months ago and never did anything with. Curb Appeal is a perception, remember? So, let’s talk about how to swing it toward the positive.

But that’s not the only question, is it? Your home is a huge investment. And especially here in Los Alamos, you’re probably buying a house that was built several decades ago. Our unique town isn’t just about single family homes. We have condos, apartments, duplexes, and quads and we toss around real estate terminology that doesn’t exist outside the area. All of those things add up to one important fact. You want your home to maintain its value and you want it to look not just nice, but singular in comparison to the others on the street.

Let’s start with Contrast. It’s actually an artistic tool. If you’re living in a quad or a duplex here in Los Alamos and the whole thing is painted one of those total quad colors we all love so much… Raise your hand if your house is brown, yellow, or stucco! Sometimes you might feel as though your house is already starting off on the wrong foot.

Begin With Contrast & Balance

So, what exactly is contrast? Contrast is what draws the eye. A bright turquoise pot against a warm pink stucco wall. A lovely copper carriage lamp against the yellow siding beside your front door.

And speaking of that front door. Paint it. Or your screen door if you have one. Use a snappy color that contrasts with the exterior paint and really sets off the front of the house. Or paint your porch. No. Not a fresh coat of brown. Try charcoal or white. Something that tones down the brown. And if you have garage doors, paint them too! It might take a little research to discover if they require a bit of a primer first, but a fresh coat of paint can do wonders for your home.

Once you’ve beautified the doors or the porch, try adding a splash of color with potted plants or even a perky flag announcing your alma mater or your favorite sports team.

Next, tackle the lighting. It doesn’t have to be expensive. Choose to highlight your walkway with simple lights from a hardware store. They can even be solar powered if you’d like to boast about your eco friendliness. Homes with a welcoming path to the front door look welcoming. Period.

Balance is also an artistic concept. Think window boxes on both sides of your porch or a flower bed with a zen feeling to it. Balance is that sensation you get when you look at something peaceful. Besides, when it comes to curb appeal, balance gives the viewer a sense of stability and timelessness. It’s inviting and welcoming to the eye and if you were trying to SELL your home, it would most certainly create a space that potential buyers want to see more of.

If you need some ideas for sprucing up your yard, check out last week’s blog post about Summer Gardening Ideas. But in Los Alamos, a good place to start balancing your yard is probably with the Juniper. If you have some, there’s a good chance they’re a little on the shaggy side. Or there’s even the possibility that they’ve entirely taken over your yard.

And of course, Regular Maintenance. Hmm. Funny how we all need a reminder about this. But then, we live in a town without formal HOAs and with a populace that argues constantly about what the county can and can’t tell us to do with our properties. I believe at one time, there was a house in White Rock with a Chinese Elm sprouting from its gutter.

Come on friends and neighbors in Los Alamos! Stain those windblown, sun bleached fences, weed your side yards, take last year’s tree trimmings to the transfer station, and love your home! If and when you sell your house, this one is critical. Never allow a potential buyer to approach your house when the fixture on your front porch has rusted to the point that you can’t actually replace the light bulb.

On the other hand, if you’re feeling frustrated that the house next door is sporting three leftover vehicles from the mid-sixties and a mailbox that’s leaning precariously to one side, take heart. The more you love your home. The more you spruce up a few things. The more you think about your property value and your curb appeal. The better your house will look when compared to the neighbors’. Remember. Contrast, right? So go out there and take a fresh look at your house and find a few simple ways to make it shine.

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