Chico real estate Archives - Page 2 of 2 - The Jacobi Team, Century 21 Select Real Estate, Inc.

You Must Master This When House Hunting

Excerpt from: Take Note! This Is the One Thing You Must Master When House Hunting

By Jamie Wiebe | Sep 27, 2018 From the Realtor.com website

Average home buyers look at 10 houses before they find The One. And unless you’ve lucked out with a photographic memory, remembering the details of all those homes can prove challenging. Wait, which one had that weird bathroom? What was the address of that awesome house near the lakeshore?

If only you’d written it down.

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It might not be the most exciting skill to learn, but good note-taking can keep you organized and dramatically simplify your home search. Yes, you already know how to write things down. But are you writing down the right things?

Jot down your impressions of size

You might be wowed by the size of the place when you walk inside, but you’re omitting crucial information if you’re not comparing that impression with the actual dimensions. Most homes come with a spec sheet, and if you’re surprised to discover the cavernous living room is just 9 feet by 9 feet—smaller than your bedroom at home—then make a note. Clever staging might be tricking your eyes, and getting the space to feel that enormous with your own furniture might be a challenge.

“Looks can be deceiving, and many agents have the means to perfectly stage a property,” says Vincent Averaimo, who works in real estate law. “Sometimes that means it looks bigger than it really is.”

Record your gut feeling

When you step into the home, what do you feel? After a long day spent driving to a dozen different homes, you’re likely to forget that feeling.

So make sure to write it down. Did you feel relaxed and comfortable? Slightly ill at ease? Did an intangible thrill race along your spine?

“When you have found the home for you, there’s a special feeling that you get,” Roberson says.

While you’re at it, dig into the specifics of why you got that special “yes!” feeling. Was it the bay window in the master bedroom? The 500-bottle wine cellar you’re already dreaming of filling up?

“Note something you really love about the home or something that really bugs you,” says Maria Daou, a real estate broker in New York City. “If you don’t make these notes in the moment, when you are in the space, you forget what it is and all the houses start blending together.”

Give the home a numerical rating

Real estate agent Dale Schaechterle recommends establishing three “have to haves,” which must be included in your final home. Then, each time you visit a house, rate each of these must-haves from 1 to 10, with 10 being “exceptional” or even “better than desired.”

For instance, if you’re insistent on a three-bedroom home, then a home with more than three beds might get a 10, and a three-bedroom home gets an 8.

At the end, tally it all up to see which home has the highest score on the things that matter most to you.

“A perfect score is not the goal,” Schaechterle says. You’re looking for something with the best balance of everything you want that gives you “permission” to stop looking and write an offer.

Take pictures—of everything

Any good seller’s agent will stuff the listing chock-full of pictures—but that doesn’t mean you should put your camera away during the showing.

In fact, you should take photos of anything that jumps out at you—good or bad, recommends real estate broker Brenda Di Bari.

Did you absolutely adore the dual-faucet sink in the kitchen? Or were you uncertain about the strange laundry room setup? Flipping through your camera roll can help you recall the details that might not be pictured in the listing photos.

And there’s another darn good reason to take lots of pictures: Sometimes listing photos lie. A deck might look pristine on camera, but up close the boards are splitting and—oh, heavens—are those carpenter ants? Or perhaps a room that looked enormous feels more like a coffin in real life.

“Maybe there are areas of damage or concern that you want to consider before making an offer,” Di Bari says. A photo will help you remember.

Write down the renovations you’ll want (and look up their cost later)

Few houses are perfect. Jot down any obvious changes you’ll want to make—and anything that might impede a home improvement project. (Is that wall clearly structural?)

“Noting if [renovation] is even an option is really important,” Daou says.

Once you’ve figured out which renovations your potential home might need, suss out how much they’ll cost. Add that to any other must-change items, like a coat of paint, replacement gutters, or even furniture needed to outfit a bigger home.

“It almost always costs more than you think,” Di Bari says.

And what good is a dream home if you can’t afford to make it shine?

Note from the Jacobi Team

We hope you stick around and explore our website! On our site you can search for homes for sale in Chico and the surrounding area. You can also download our free Home Buyer’s Guide which is chock FULL of great info! Reach out to us if you have any questions! Thanks -Kim and Emmett

Pros and Cons of renting out a secondary unit

By Jeanne Sager | May 7, 2018 on Realtor.com

An in-law unit can be a major selling point when you’re buying a house. It’s the perfect guesthouse for short-term visits (your adult children coming for Christmas) or long-term stays (Grandma moving in with you). But what can you do with your in-law unit while it’s sitting empty? Some homeowners opt to rent it out.

Nothing sounds sweeter than extra monthly cash flow, but is it really that simple? Let’s dive into the pros and cons of renting out your in-law unit and what you can expect to deal with as a property manager.

What is an in-law unit?

To qualify as an in-law unit, this part of the house should have its own entrance, bathroom, and kitchen or kitchenette, says Stephanie Trevizo, a real estate agent and landlord in Los Angeles. If your home listing says it comes with an in-law unit, you should make sure it legally qualifies as one in your municipality. “This can usually be done by calling your local housing authority or city,” Trevizo says.

Benefits of renting out an in-law unit

As Trevizo points out, homeowners stand to make extra income with a space they’re not already using, and they can do so with relatively little intrusion on their everyday lives. Because of their separate entrance, in-law units offer homeowners privacy and a sense of distance from their renters, something that wouldn’t happen if you were renting out a room in your home.

In-law units are also attractive to renters, which can make it easier for you to find a tenant. Because an in-law unit is part of a home, it’s likely located in a community largely made up of single-family homes. “Some [renters] choose these types of units to get into certain school districts,” Trevizo notes. “The landlords tend to be more flexible than a management company at an apartment complex.” What’s more, if you’ve already furnished your in-law unit for visits from your guests, you have the advantage of being able to list it as a furnished unit for short-term rental on sites such as Airbnb or HomeAway.

Then again, the separate entrance and all-in-one amenities (e.g., private bathroom and kitchen) make most in-law units great for extended-stay rentals as well, says Rob Stephens, co-founder and general manager of Avalara MyLodgeTax, a company that provides lodging tax compliance solutions for property managers. If you know the unit will sit vacant for a while, an in-law unit can be turned into a more traditional rental, with long-term monthly or even yearly leases.

Click Here to see if there are any homes for sale in Chico with a mother-in-law unit!

Disadvantages of in-law unit rentals

Before renting out your in-law unit, you must ask yourself if you’re ready to deal with a tenant in your personal space. Separate entrance and bathroom aside, the tenant will still be living on your property, so you’re both certainly going to have some personal interaction at some point.

There are also a few other questions to consider, says Kimberly Smith, a broker with AvenueWest Global Franchise, in Denver. For example, will the tenants’ noise bother you or your noise bother them? Will you feel safe? Are you comfortable renting to someone with a pet? Do you have enough room for them to park their car, or will that require daily communication?

Because renting out an in-law unit is legally equivalent to renting out any other piece of property, you do need to follow the laws of your local municipality, Stephens says. In the case of a short-term rental such as an Airbnb, you may be required to collect occupancy taxes, register guests, and sometimes obtain a license from your local authorities.

“Requirements to register and the occupancy tax rate that needs to be collected vary by city, county, and state across the U.S.,” Stephens says. “In some areas, you may only need to complete one registration form and remit taxes to one tax agency. In other markets, there are usually three to four different registrations that need to be completed, which include some form of licensing with the separate city, county, and state agencies. In about half the markets across the U.S., you will need some form of business or rental license. In other markets, you simply need to register and pay the occupancy taxes, not obtain a license.”

In other words, you’ll need to check with the city, county, and state where your home is located before you decide to become a landlord, even if it’s for the short term.

Renting out your in-law unit could also have an effect on your homeowner insurance policy, so it’s important to call your insurance agent before you put up that rental ad. Because renting is defined as a business activity, your typical homeowner policy will not cover losses related to your rental, Stephens warns.

One final consideration, and this is a big one: the responsibility that comes with maintaining a property.

“This could mean late-night phone calls about problems the tenants are having with the home,” Trevizo warns.

As the property manager, you’ll be on the hook for a number of things, including collecting rent, setting lease terms, handling repairs and emergencies, dealing with security deposits, and filing taxes on the property.

“There is always the risk that you may have to evict a tenant, which could be costly and time-consuming,” Trevizo says.

From Emmett and Kim Jacobi of the Jacobi Team of Century 21 in Chico, CA:
If you are interested in purchasing a property you can rent out and have questions or want guidance in finding just the right property, then please reach out to us! We are full time real estate agents here in Butte County and serve not only the Chico area, but also Orland, Oroville, Durham, Paradise, Magalia, and Butte Valley. Also, we hope you stick around on our website and check out all that we have to offer here!

What you need to know about buying a home during COVID

All across the United States people are still buying and selling houses despite the presence of COVID 19. At record numbers in fact. The Chico, CA area is no exception. Inventory in Chico today (as of publishing date it is Jan 2021) is almost as low as it was right after the Camp Fire in 2018, when houses were flying off the market, being purchased by fire victims who received their insurance money and wanted to put down roots again in the area. Here is how we are handling the process of buying a home or selling a home in our Chico area during this pandemic.

Virtual meetings, In-person showings

It is hard to imagine making the single most biggest purchase of your life without seeing the house in person first. We are still showing houses in person, but all other interactions, when possible, we are doing via ZOOM or by phone. For example, filling out paperwork can be done virtually. Texts, emails and phone calls handle any and all questions and updates with clients. But when it comes to considering a house to buy, you can still see the house in person. Here are the safety guidelines that the California Association of Realtors have put into place for showings:

Rules for Realtors about showings during the Pandemic

On July 2, 2020, the Departments of Public Health and Cal/Osha revised their posted “Industry Guidance: Real Estate Transactions,” which contains a host of rules detailing how properties must be shown during COVID-19. Here are the 8 steps they published for realtors and brokers to comply with:

Step 1: Adopt a “Prevention Plan.”

Step 2: Do not hold “traditional” open houses or showings that are open to the general public on a walk-in basis.

Use an appointment or digital sign-in process to control the number of people at the house. If you are going to hold a non-traditional “Open House,” then any “Open House” signs or ads must include a rider or express condition that appointments or digital sign-in are required before entry. Showings should be done virtually, whenever possible. Only one listing agent and one “buying party” (including the buyer’s agent) may be in the dwelling at the same time.

Step 3: All visitors must sign a PEAD-V form and deliver it electronically to the listing agent in advance of entering the property.

The form should be signed on the day of entry, or if not possible or pragmatic, then no earlier than 24 hours before entry. Doing this accomplishes several things:
a) It is an agreement that the visitor will comply with the Posted “Rules for Entry Showings” (Form PRE)
b) The visitor acknowledges receiving and agrees to the Prevention Plan
c) The visitor attests they are not, to the best of their knowledge, afflicted with COVID-19, among other things.

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Step 4: The Posted Rules for Entry must be posted at the entrance to the property and be clearly visible.

Also link to or publish these rules in MLS listings and publicly online.

Step 5: The property must be equipped with hand sanitizer and disinfecting wipes. Face coverings are to be available in case any person did not bring their own.

Step 6: The property must be thoroughly cleaned and disinfected.

Commonly used surfaces such as counters, door and cabinet handles, key lock boxes, keypads, toilets, sinks, light switches, etc., must be cleaned and disinfected before and after each showing. The agent who shows the property shall follow cleaning and disinfecting protocols and provide sanitation products unless otherwise agreed. Keep in mind that the brokerage whose plan is being
implemented (almost always the listing brokerage) must regularly evaluate the plan for compliance and correct deficiencies identified. May a seller do the cleaning? If current occupants are present and/or participate during showings, they should adhere to the same cleaning and disinfecting protocols.

Step 7: Open doors and windows, weather permitting, to introduce fresh air. Also, doors and other areas of ingress and egress must be opened to minimize clients touching surfaces.

Step 8: Prior to or immediately upon entry, all visitors must use hand sanitizer or wash their hands with soap and water before touring or inspecting the property.

Real Estate is an essential business

Since we are considered essential then we are still able to conduct business and be there for our clients. It has been amazing to watch the industry and our clients adjust to this new norm. More than ever, technology is playing a huge role in searching for houses, writing contracts and signing documents, negotiating, and passing along information.

Inspectors, lenders and title companies are all a part of the essential business of real estate. Inspectors are all still available and working here locally in Chico. We aren’t sure how the rest of the country is doing in that category but here in Butte county, it’s business as usual for the inspectors. They also have to follow the guidelines posted previously in this blog. Title companies locally are locking their doors but still working like busy bees behind closed doors to close escrows. When it comes time to sign the closing documents, mobile notaries are being mobilized and meeting clients (face masks on!) to have clients sign documents that need to be notarized. If you are buying a home with all cash you won’t need a notary so the title company can Fed Ex or email the documents for you to sign and send back.

The moral of the story is, now is still a great time to sell or buy. Inventory here in Chico and the surrounding areas is less than a month of inventory. In other words, if we stopped taking new listings from today, then Chico would sell out of homes in less than a month. Prices are the highest they’ve been in Chico since 2005. But buyers still have incredible buying power because interest rates have been holding at record lows. So even though a house costs more on its price tag today than it did two years ago, for example, your monthly payment will be lower than it was two years ago because your interest rate today is low enough today to make up that difference.

We hope you stick around and check out our website. There is a lot of information here to check out and you can also search for local homes and get local market reports. If you want to chat with us give us a call today!

Written by Kim Jacobi, Jacobi Team Century 21 Chico

Electric Floor Heating

Radiant floor heating systems heat a room by means of a system of pipes or wires that run beneath the surface flooring to gently radiate heat upward into the room. Such systems offer a good way to heat a room addition where it is difficult to extend existing HVAC ductwork, and they are especially effective on flooring surfaces that are naturally cool to the touch, such as stone, concrete, or ceramic tile. Radiant floors can also be a good choice in large, tall rooms since the heat source emanates at floor level, where the heating is most needed. And particularly in rooms where you walk with bare feet (the prime example is a bathroom), a radiant floor makes for unparalleled comfort.

Radiant floor systems come in several styles, but one of the most popular is the electric system, in which a wire mesh or loops of individual wires run across the floor beneath the surface, creating warmth by means of the natural resistance occurring as electricity flows through the metal wires.

Anatomy of an Electric Radiant Floor Heating System

The principle of radiant floor heating has been around for centuries. In ancient Rome, for example, many public buildings had a system of tunnels beneath stone floors that circulated air warmed by wood-burning fires. In the modern electric adaptation, thin heating cables installed under surface flooring—most commonly ceramic tile—heat the floor much the way an electric blanket works. Typically they are operated by their own 15- or 20-amp electrical circuit controlled by a wall thermostat. Often such systems are used to provide supplemental heat and are installed during remodeling projects.

Most electric radiant floors involve laying strips of electrical matting across the subfloor, linked together and connected to an electrical circuit and line-voltage thermostat, and secured in place by a covering of thin-set mortar. The surface floor covering is installed over the electrical matts. In these matt systems, you can cut pieces to size to fit irregular areas, although it is generally better to use full-sized mats. Ideally, the mats cover most of the floor, but it is also possible to confine the heating to areas where you usually walk. In other systems, individual wires are looped across the bathroom floor about 3 inches apart and secured by thin-set adhesive. For ceramic or stone tile floors, the electrical mats or wires are installed over the cement board underlayment, over which the ceramic tile is then laid.

Pros

Electric radiant heating systems buried within thermal masses (such as between cement board and ceramic tile) can retain heat for a long time, even after the power is turned off.

Electric radiant floor systems offer a discreet way of heating a floor. With the right temperature setting, it is difficult to even detect that the radiant heat is operating.

The systems can help reduce overall heating costs—your HVAC or space heaters do not have to operate as hard to heat up the room.

These systems are ideal for use under naturally cool surfaces, such as ceramic and stone tile or on concrete slabs.

Electric systems are easy to install during remodeling projects.

Radiant system, in general, are more cost-effective than other means of electric supplemental heating, such as space heaters.

Electrical systems are the most DIY-friendly of the radiant floor options.

Cons

These systems are difficult to install retroactively, as the floor covering must be removed. They are most practical during new construction or during major remodeling projects.

They are more effective at warming the floor surface “to the touch,” rather than heating the entire room (though it is possible to use radiant floor heating as your primary heat source).

For whole-home use, electrical systems are more expensive to operate than warm-water radiant heating.

Broken wires are trapped between flooring surfaces and are difficult to repair.

Radiant floor heating is less effective under carpeting, hardwood, or vinyl since heat can be trapped between the insulating surface layer and the subfloor.

Want a free buyer’s guide to buying a house? Click here: https://jacobiteam.com/buy/

Costs

You can expect to pay at least $8 per square foot at a minimum for the materials for an electric radiant floor. For estimating purposes, $10 to $12 per square foot is a safe number to use for materials alone. On average, for professional installation plus materials, plan on spending about $16 per square foot.

While it depends on where you are located and the cost of electricity there, you can figure on operating costs of about $0.50 to $1.00 per day for an 8 x 10-foot bathroom, if the system runs 24 hours a day (regulated by thermostat). When operated 8 hours a day, costs run about $0.25 to $0.35 per day for the same 8 x 10-foot bathroom.

Alternate Forms of Radiant Floor Heating

Less common but also available is the hydronic (hot water) radiant floor system. In hydronic systems, tubes of water warmed by a central boiler or hot water heater circulate beneath the floor. Hydronic radiant floor systems are more typically used in new construction for creation of whole-house heating systems. Installation costs are considerably higher than for other central heating systems, but hydronic radiant systems are extremely efficient and offer much lower ongoing operating costs—about one-third that of forced air systems.

Written by Lee Wallender; found on thespruce.com website

Hi from Emmett and Kim! We are a husband and wife real estate team here in Chico, CA with Century 21 Select Real Estate. If you have any questions about buying or selling a home, or any other home related questions, please reach out to us! We hope you stick around and check out our website. You can search homes for sale, get local market reports, and more!