Posts Tagged ‘decorating’

Remodeling Your Bedroom

Wednesday, July 29th, 2009
by Robert Vanden

Remodeling a master bedroom does not have to be the huge challenge that many homeowners believe it is going to be but it can make a huge difference in how you feel about spending time in this room. Gradually, the movement to make the bedroom a more special place is gaining momentum as more of us decide that we want more from it. The French of course have always led the world in designing sexy bedrooms, and now people everywhere have started to follow their lead and decorate their bedrooms for sensuality as well as other reasons.

The main aspect of change if you remodel your master bedroom in to a more sensual place is the color scheme and you can achieve this by using shades of red, cream and peach. If you are fond of candlelight then the addition of strategically placed mirrors will give a dramatic effect that could not be done with conventional lighting.

Obviously the room lighting is important as it shouldn’t be too bright but at the same time not to dim either, so plenty of soft lighting is the best compromise, especially when reading is concerned. You could try using energy saving led lamps, as they provide a soft and warm light.

If you are trying to achieve that sanctuary effect when remodeling the master bedroom, then soft pillows, luxurious throws, landscape paintings and mirrors will promote private reflection. Also, using colors like amber, ivory or slate blue will help achieve the desired effect.

To complete the changes in your bedroom, hang a couple of pictures or family photos on the walls. To increase the functionality of the room, think of adding a standing lamp and a comfortable armchair.

If space is not an issue when remodeling your master bedroom, why not add a few extra touches like a small desk to write on and perhaps even a small tv set. If you are going this far then why not add a mini fridge and drink-making facility which could turn your bedroom into an equivalent of a personally designed hotel suite.

Remodeling your master bedroom may end up as a project that requires some compromise if there are two occupants that cannot agree on a particular idea but many of the previously mentioned choices can be mixed and matched quite successfully together, resulting in a well designed and comfortable room.

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The Home Valuation Code of Conduct and How it Could Adversely Affect You

Tuesday, July 14th, 2009
by Tracy Anderson

What does an investigation by the New York Attorney General have to do with my home appraisal in Atlanta? Well basically Andrew Cuomo was investigating the appraisal practices of the Government Sponsored Entities (GSEs), aka Fannie Mae and Freddie Mac. To get the Attorney General to stop the investigation, the Office of Federal Housing Oversight and Fannie Mae and Freddie Mac agreed to what is now called the Home Valuation Code of Conduct.

The HVCC is an effort to clean up the mortgage industry. Although there are many good initiatives in this new code, there are many unintended consequences adversely affecting home buyers, home sellers, mortgage brokers, agents and appraisers.

The HVCC affects those people in the loan process that are compensated on a commission basis. Once a loan closes, mortgage brokers, loan officers and real estate agents and brokers are paid their commissions. These people are no longer allowed to communicate in any way with the appraiser assigned to their property. The problem is that many loan officers, brokers, real estate agents and brokers have spent many years developing business relationships with certain appraisers because of their professionalism, timeliness and superior quality of work. Now, these relationships are no longer useful. Instead of choosing appraisers based on their depth of knowledge about certain market areas, appraisers must now be chosen from a preapproved list or from and Appraisal Management Company.

Home buyers are adversely affected because of the increased cost of appraisals. They may have longer rate locks or extend existing rate locks. If a home buyer is not satisfied with the service of a particular lender, there may be a hesitancy to change lenders because of added time and costs involved with a new appraisal. Appraisals are completed for the specific lender; therefore, if the lender is changed, a new appraisal must be ordered which increases time and costs.

The National Association of Realtors, The National Association of Home Builders and the National Federation of Mortgage Professionals are faulting the HVCC for new and existing home sales falling short of expectations in May. Unfortunately, low ball appraisals are forcing home sellers to either appeal the appraisal or reduce the agreed upon sales price for their home to the appraisal amount. Most sellers are not in a position to reduce the sales price and the contract falls apart.

Finally, the most adversely affected group of people is the appraisers. In many cases, independent appraisers pay 40% of their income to an Appraisal Management Company for the right to work in the appraisal industry. AMCs are not regulated which could cause even more problems. However, the most negative aspect of HVCC prohibits appraisers from communicating with their customers. Since mortgage brokers, loan officers and agents are paid on commission, the appraiser is restricted from all types of communication. No other industry has that type of restriction.

Stories about low ball appraisals and their deal killing impact on the real estate industry are snowballing. Buyers are not able to get loans on properties that do not appraise for the agreed-upon sales amount. The National Association of Realtors is asking for the suspension of the HVCC rules for 18 months because of the negative effects on real estate markets all across the country.

All these unintended consequences have me and others longing for days past. Back when there was no downward pressure from lenders and regulators on a hurting market. You know back when a house was worth what someone was willing to pay for it! Buyers and sellers want to get about the business of buying and selling, and agents are in their “amen” corner. Let the buying and selling begin.

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