An updated kitchen can help you get top dollar from a buyer. This list tells you where to spend your remodel dollars to get the attention of buyers and your best return on investment.
Professional grade stove
Look for options like a flat griddle or a cooktop for a searing pan or wok. Even if buyers don’t cook, nothing says quality in the kitchen like a beautiful, high-end stove.
Premium countertops
Granite still reigns supreme, but quartz is becoming popular as well. With a quartz product, like Caesarstone, you get the appearance of granite without the upkeep.
Hardwood floors
Hardwood and tile are popular in the kitchen. If you are considering a flooring change, stay away from linoleum and concrete. These products are least popular.
Stainless appliances
Stainless is still the finish of choice. Investing in stainless appliances that will stay with the home when you sell is a better choice than buying less expensive white or colored appliances.
Mel Foster Co. has been awarded the Website Quality Certification (WQC) from Leading Real Estate Companies of the World®, a global network of 500+ real estate firms which presents the certification to member companies that demonstrate best practices in website design and Internet communications.
Mel Foster Co.’s website, www.melfosterco.com , earned the certification after achieving high marks on a range of criteria, including usability and performance, design and content, interactivity, customer service and Internet lead management, search engine optimization and mobile.
Created by LeadingRE in 2009 to recognize member websites that combine high standards for design, technology and service, the criteria for the WQC are updated annually to reflect the latest in internet marketing strategies. The WQC is an optional program available only to firms affiliated with Leading Real Estate Companies of the World® and requires re-certification every two years.
“We are pleased to present the WQC to 124 members this year and commend these firms for creating websites that effectively engage today’s home buyers and sellers by providing relevant information in a compelling way, with the perspective only a local firm can offer,” said Leading Real Estate Companies of the World® President/CEO Pam O’Connor.
“We have received this certification since its inception and it just confirms that we continue to be a real estate leader in using “best practices” in website design and internet communications. Our new site was rolled out in the fall. Our website users are experiencing superior results and an excellent customer service experience on our site,” said Mel Foster Co. Lynsey Engels, President Mel Foster Co. Brokerage.
For more information about Mel Foster Co., please visit www.melfosterco.com.
Fick Family announcing their biggest year in company history
Mel Foster Co. held its annual awards reception last night at the Waterfront Convention Center in Bettendorf, Iowa. Lynsey Engels, President Real Estate Brokerage and Marc Engels, President of Mel Foster Insurance presented awards to 122 agents that were recognized for achieving membership in the company’s different sales club levels including Chairman, Executive, President and Honor. Top honors were awarded to:
Thad DenHartog – Commercial Top Sales
Diana Franks – Residential Illinois Top Sales
Geri Doyle – Residential Iowa Top Sales
Joe Ertel – Insurance Top Personal Lines
Mike Smith – Insurance Commercial Top Producer
Mike Kessel – Insurance Top Employee Benefits
Combining all three divisions of Mel Foster Co. Inc., the total sales volume increased by 9.21 percent from 2012, surpassing the total sales of 2005, when the market was at its peak, and making it the biggest year in the history of the 93 year old company. Rob Fick attributed Mel Foster Co.’s success to dedicated staff and agents, who continue to build and maintain relationships within their teams and outside of the company. Fick also attributed the increase as a reflection of a strengthening economy and higher consumer confidence in 2013. “I am very proud of what the company accomplished this year. I know Mel Foster Jr. would be equally proud to see us continuing his vision of forward progress and leadership in this community. We’re starting 2014 with great optimism and a stronger economy than in years past, and I anticipate 2014 to be another year of growth for Mel Foster Co. We were fortunate in 2013 to welcome 39 new agents and staff, and 28 individuals are currently enrolled in our pre-license classes,” commented Fick.
Mel Foster Co.’s residential real estate sales increased by nearly 8 percent from 2012. The average sale price for Mel Foster Co. residential real estate was $148,278, a 1.18 percent increase from last year.
New construction sales are predicted to be strong in 2014. Lynsey Engels said, “We are expecting the real estate market as a whole to continue moving forward, with new home construction heavily influencing home sales volume. We are positioned to meet demand for new construction in our area and are pleased to announce that we will be launching four new subdivisions in 2014 coupled with the four that were launched in 2013. We closed 85 new residential lots last year and will have another 146 lots available in 2014.”
Mel Foster Commercial relocated to the Elmore Office Park in the spring of 2013. Engels reported that agents in the commercial division closed an average of over six million dollars per agent. After having their best year last year since 2005, Mel Foster Commercial still had a one percent increase in sales from the previous year.
Mel Foster Insurance had the biggest year in the history of the company. Marc Engels commented, “We have introduced a lot of new processes throughout the division and our agents and staff have done a great job adapting to the ever-changing insurance markets. Much of our growth can be attributed to our strong carrier representation which has allowed us to secure new business relationships in the Quad City market.” Direct written premiums were up 44.8 percent since 2009 and the insurance division has been able to more than double its employee benefits department. Engels added, “To continue to build each year is a testament to our team’s ability to meet the expectations of our Quad Cities and surrounding area clients.” In 2013, the personal insurance lines department’s sales grew 8.1 percent and the commercial department was up 15.4 percent. Engels also said, “I think individuals and business owners in this market appreciate the consistency, integrity, and professional competence our team brings to the insurance experience.”
Mel Foster Co. invested in multiple technology enhancements in 2013 to help buyers and sellers search for homes more easily. The new website was launched in fall 2013 and a new app was recently rolled out. Internally, agents benefitted from IT upgrades, a more robust intranet site, paperless transactions and enhanced consumer reports with greater details for homebuyers and sellers. Lynsey Engels stated, “We want to make sure that our agents have every tool they need to successfully meet their clients’ needs. We continually invest in technology upgrades and stay current on new features that we can integrate into our systems. With over 90% of people searching for a home online, it’s crucial for our agents to have top of the line technology.”
Mel Foster Co. launched a new, enhanced property search app for iPad, iPhone®, and Android smartphones. The app is free and available from the Apple App Store and Google Play Market.
The new app offers a premium user experience with best-in-class mapping and augmented reality. See large photos, detailed property information on the map and search faster with auto refresh when you select a new location. Users can share properties via text message and email.
The Mel Foster Co. app is the first in the area to feature a homespotter function that Mel Foster Co. calls “Foster Finder.” Foster Finder shows results for Mel Foster and all listing companies.
Foster Finder uses a technology called augmented reality that is coupled with a smartphone or tablet’s GPS and compass to overlay property information on a device’s live camera feed. Simply use your smartphone or tablet to find all homes for sale on the street where you are standing. With a quick tap, a view of the entire street and all homes for sale pop up. There is also a radar display that shows the direction and proximity of nearby properties for sale.
The new app is integrated with the recently redesigned www.melfosterco.com. Saved properties from the smartphone app, tablet app and website are automatically synced so users always have access to their most recently saved properties.
Mel Foster Co. partnered with Mobile Realty Apps, a Minneapolis based company that specializes in real estate applications.
About Mel Foster Co.
Founded in 1921, Mel Foster Co. is a Real Estate Leader of Eastern Iowa and Western Illinois serving Davenport, Bettendorf, Moline, Rock Island and the surrounding Quad City area, and it is one of Iowa’s largest independently owned real estate companies. The company specializes in residential and commercial sales and offers services in insurance, farm and land sales, land development, relocation, career development, and new construction. Visit their website at www.melfosterco.com for more information.
About Mobile Realty Apps
Founded in 2009 and based in Minneapolis, Mobile Realty Apps specializes in custom mobile apps for the nation’s top real estate brokers and MLSs, featuring apps for iPhone, iPad, Android, and Blackberry, QR codes, text and voice response solutions. Mobile Realty Apps is perhaps best known for its industry-leading HomeSpotter, an augmented reality technology that is a feature of its white-labeled smartphone and tablet apps.
When you prepare your 2013 taxes, you can use your recent home improvements to get energy-efficiency tax credits. In addition to helping you lower your energy bills, energy-efficient products eligible for the new federal tax credits actually lower the amount of federal income taxes that you pay.
Eligible home improvements
Exterior windows including skylights and storm windows
Insulation, exterior doors and roofs
Central air, heat pumps, furnaces, hot water boilers, water heaters, advanced main air circulating fans or biomass stoves
How to claim your credit
Your tax preparer can help determine your credit. There is a cap of $500 for fiscal years 2006-2013 combined. You will need to keep receipts to provide proof of purchase and have a copy of the manufacturer’s certification for the product you purchased. If you file taxes on your own, you will need to file IRS Form 5695 with your taxes.
Now is an ideal time to list your home for sale because there are many buyers, but not enough homes for sale. This means you can get a higher selling price now that the market is in the seller’s favor.
Interest rates are still low which encourages homeowners to move. More competition is always good for sellers who may be in a position to review multiple offers. Sometimes a bidding war can break out, driving the final sales price up higher than the listing price.
According to James D. Shilling from DePaul University’s Institute for Housing Studies, the seller’s market is driving home prices up higher. This helps homeowners with negative or low equity to make more money from a sale and eases the burden of being upside down on their home. This gives the seller a chance to enter the market as a buyer when interest rates are near record lows.
Shilling predicts rates will stay low through 2013 and most likely into 2014. But the interest rates won’t stay low forever. When rates do rise, homeowners won’t want to sell their homes and lock into a new, higher interest rate. This shift means fewer buyers and lower offer prices for your home.
It’s a sweet time to be a seller. Contact a Mel Foster Co. agent about listing your home and take advantage of the market conditions.
Selling a house sounds easy. Take some pictures, get them on a for sale by owner website and watch the offers come in. The reality is, your home may sit on the market longer and you may price it below market value. These mistakes could cost you thousands of dollars.
Get an agent on your side when you decide to list your house. Agents and FSBO companies have different motivations. Your agent is working hard to sell your home for you and is only compensated once your home is sold. An FSBO website makes money when your home doesn’t sell and you pay for another month of listing.
Only your agent can help you determine a fair selling price based on comparable listings and sales in your neighborhood. This competitive market analysis can give you a realistic sales price. A home that is priced right will sell quickly in most situations. An FSBO site won’t offer specific information to determine how to price your home.
With an FSBO listing, you are responsible for scheduling and facilitating the open houses. It can be frustrating to watch potential buyers enter, then exit, your home in less than five minutes. They won’t stick around long enough to tell you honestly what’s keeping them from choosing your house. But an agent knows how to engage potential buyers in a meaningful dialogue that can reveal buyer concerns that might be keeping your home from selling.
Your agent also has the necessary paperwork for a buyer to make an offer. Selling you house is a transaction of many thousands of dollars. This is not the time to play agent and lawyer for yourself. Be smart when you list your home and use an agent.
Mel Foster Co. is pleased to announce Lynsey Engels has been named the President of the Real Estate Brokerage Division effective May 1, 2013.
As president, Engels will oversee the company’s ten real estate offices and the relocation division. She will also be involved in mergers and acquisitions, training, and agent recruiting and retention.
During the last six months, Engels has transitioned from her position as an agent to assume general manager responsibilities. As an agent, her efforts led to numerous multi-million dollar producer status recognitions in Mel Foster Co.’s Executive Club and Chairman’s Club. Engels spent 10 years in residential real estate with eight of those working as a team with her sister, Kristi McFate. A licensed broker in Iowa and Illinois, Engels specialized in new construction and relocation services and was adept at working with first-time home buyers.
Engels is a member of the National Association of REALTORS®, the Iowa Association of REALTORS®, the Illinois Association of REALTORS®, and the Quad City Area REALTOR® Association, where she currently serves on the organization’s board of directors. She is a member of the Quad City Chamber of Commerce and has served in various leaderhship roles for Junior League of the Quad Cities. She has been a volunteer for Make a Wish, Junior Achievement, and high school-aged volleyball teams and was named a Leader Under 40 in 2007. Engels graduated from Purdue University where she was an academic All Big Ten athlete and captain of the tennis team.
Rob Fick, Chairman and CEO of Mel Foster Co., Inc., proudly announced, ‘I am confident Lynsey’s expertise and enthusiasm will enhance our strategic vision to provide more valuable leadership experience to our managers, agents and staff. Her attention to detail and passion for success will continue to raise the standard of excellence and leadership in our company.”
Engels and her husband, Marc, reside in Bettendorf and have three daughters.
An updated kitchen can help you get top dollar from a buyer. This list tells you where to spend your remodel dollars to get the attention of buyers and your best return on investment.
