Mortgages by Jeremiah Phillips

Last week I was asked a very important question: What makes me different from everyone else?

Recently with all the changes, that is a great question, I took the time and put it in a formal letter for a business partner.  If you have had a good experience I ask that you email me back your experience so I can post them.  All will be posted. 

What makes us different?  This is an easy task.  What I mean by that is every day I am always “selling and proving” myself.  Whether it is to a new client or a referral I’ve just received. What I do on a daily basis is not only mortgages; it is creating and maintaining business relationships.  Because of this, colleagues feel comfortable coming to me for mortgage advice 

I’ve built a successful network of realtors, attorneys and financial advisors who serve as a testament to the service, professionalism, and execution that I deliver.  I handle my clients from application to closing.  I like to meet with them in person and I attend all of my closings whenever possible.  My clients are informed, prepared and serviced to their expectation and satisfaction.  This is why the majority of my new business comes from my extensive client base.  I never over promise and under deliver!  My goal is to have a satisfied client from start to finish!

No one person is ever successful alone.  That is why it is important to surround yourself with the most professional and reliable people you can.  As a builder, you know that the most important part of a building is its foundation.  No matter what you build, if it’s build on a shaky foundation, its quality will suffer.  With our organization, the foundation is the people I work with.  My partner Nick Cettei is the most knowledgeable person in the business.  As a consequence, we often close loans that were previously turned down by other companies.  Nick is my partner and Head of Operations for our division.  Nick understands the entire business from sales, to servicing.  We have the same goal which is to close quality loans.  Our team is all on the same page.  We will service your clients, honor our commitments, and close your loans in a timely basis.  We are very motivated to work together and service your mortgage needs.

Homeowners can make two types of improvements: Aesthetic and practical.  An aesthetic home improvement tends to focus on the transformation of a room into something more lavish; say, for example, adding Italian marble to your bathroom.  And a practical home improvement involves something like buying an energy-efficient furnace.

 

Which Of The Two Philosophies Adds The Most Value To A Home?

 

You might be surprised to learn that practical home improvements, which may seem hum-drum, is what will increase your home’s market value.  Most Aesthetic changes are based on personal design taste, and there is no guarantee your home’s next owner will share your tastes. 

 

Furthermore, housing markets vary from state to state, town to town.  According to Remodeling magazine, adding a midrange deck to a home in San Francisco recoups 131% of its costs.  In Columbus, Ohio, on the other hand, the same project will only recoup 57% of its costs.  

 

Still, there are plenty of practical upgrades available to homeowners, and to help you out we have compiled a list of three surefire home improvements that will add value and three home improvements sure to add no value.

 

Three Surefire Improvements To Add Value To Your Home.

 

#1. Kitchen Renovations – If there is one thing every home needs is a kitchen.  The trick is to stick with a classic design and use high quality materials.  Recommended renovations include painting the walls or adding wallpaper, reflooring, sanding, replacing cabinets, updating appliances and swapping out cabinet hardware.

 

#2. Create New Space From Old – Any change to a house that increases the functionality of existing space is a wise decision, not to mention one that will cost you far less than an addition would.  Attics can be turned into bedrooms, and basements can be turned into recreational rooms.

 

#3. Make More Bathrooms – Instead of adding an additional closet or small bedroom, add a new bathroom to your home.  According to Remodeling magazine, a homeowner who adds a new bathroom and spends as little as $15,789 on the vanity top, sink, bathtub and ceramic tile can recoup 78% of the cost.

 

Three Home Improvements That Will NOT Add Value.

 

#1. Swimming Pools – This may come as a surprise, but swimming pools do NOT add resale value to your home.  In fact, some new homeowners have been known to spend $300,000 on their home and then fill in the pool.  The reason for this?  Maintenance.  Pools require a lot of upkeep, which is time-consuming as well as costly.

 

#2. Custom Landscaping – As stated before, what looks nice to you may not look nice to others.  Therefore, if you spend $10,000 on custom landscaping, it does not add $10,000 to the value of your house. 

 

#3. New, Non-Standard Windows – Replacing windows is a double-edged sword.  On the one side, savings on your utility bill might justify this investment.  But on the other side, any sort of customization to the windows, like fancy trim, shapes, bays and bows, are often times too expensive of an improvement to recoup the cost at resale.

 

Summary: Whenever you are considering making home improvements, avoid a ready, fire, aim approach.  Instead, consult with a professional and learn what improvements will give you the most value, both immediately and in the future.  As mentioned earlier, some of the most hum-drum improvements actually yield the most value, while some of the more alluring improvements add no value at all.