You might remember the Using Walkscore in Your Home Search post (but if you don’t that’s OK.) And now there’s some new conversations about how “walkability” is more apt to make an impact on home buying and home selling decision.  From the gist of this Money/CNN article, it looks like people are putting their money where there feet are.  Read Putting a Price on Walkability and feel free to enter your comments here about whether walkability really is worth more.

One of the ways a seller’s agent earns her commission is  by bringing prospective buyers to a client’s home.  Another way is by knowing the market and the area so well, that she advises clients to set the right asking price right from the start.  Understanding that there’s no formula, no calculator that spits out exactly the right number, finding just the right number the first time is an art that takes a combination of factors into account.

Of course the agent looks at data, such as the number of similar homes that sold in the same area, the number of days it takes similar homes to sell, how many other similar homes are for sale at a given time, and other measurable factors.  That’s all good.

But then there are intangibles, such as the shape the home is in, it’s layout, and whether it’s considered desirable or not.  All these factors determine the art of the sell. And a very important part of the art and science of selling a home in today’s market comes down to price.

The Object of the Seller’s Game
Remember, the seller’s agent is trying to get the highest possible price for her client’s property, within the shortest amount of time.

Why Price Plays Such an Important Role
When a home is priced too high, it sits on the market.  The fact that a home has been on the market for 30, 90, 200 days alone is enough to make it undesirable.  Shoppers will look at a home’s days on market (DOM) column without even seeing it and wonder what’s wrong with it, even if the answer is “nothing.”

What to do About it. And What Not to do About it

• Don’t test the market, and don’t throw numbers out to see which one sticks.
• Price reductions are nowhere nearly as effective as new listings.
• Withdrawing a house from the market or re-listing it draws attention to its having gone stale, or makes buyers wait to see how low they can make their offer.
• Do consider carefully the advice you receive from your agent, balanced against your own research and instinct.

Pricing right, right away can save you time, energy, and money down the road.  And consider that money you may have lost due to market conditions will translate to savings on your next home, even if you’re trading up or laterally.

Unless you’ve been living under a rock for the past decade, you know that building green has been all the rage.  Going green is great; I’m all for it; the Stapleton subdivision is one of Denver’s most popular and shining examples of sustainable construction.  Environmental stewardship is the thing to do, and following the three Rs in everyday life is getting easier and more accessible every day, especially here in Boulder.  So it follows that green home building is a common topic of conversation; I just happened to have no idea what it really meant.

As it turns out, building green can mean different things, and there are even some controversies about what are really environmentally green building practices, and what are simply trendy perceptions.   Take, for example, flooring. I was recently speaking to a flooring expert who mentioned the ever-rising requests for bamboo.  You may have heard that bamboo flooring is considered “green” because it’s a renewable resource because it matures in five years instead of thirty. (There’s also cork flooring, which can be harvested without harming the plant.)  But I learned that there’s a distinction with alternative flooring that I hadn’t considered. Some bamboo is shipped from other countries, which means that fossil fuels play a big part in its transport.  Sometimes bamboo is treated with eco-unfriendly chemicals during processing. And because some owners want to keep expensive flooring protected as long as possible, that may mean finishing bamboo with a compound with high VOC levels.

It seems that the moral of the story is: Don’t stop using your good sense just because a product or practice makes green claims.  Continue to use the kind of common sense it takes to get along in every other facet of home ownership.

Other practices believed to encourage the greening of our neighborhoods and communities include:

• Keeping courtyards and driveways permeable, so that rainwater continues to penetrate into the ground and recharge the aquifer rather than run off into the street.
• Planting xeriscaped landscapes, using native plants grouped according to water usage.
• Using natural fibers for window treatments, upholstery and rugs: wool, cotton and linen, rather than synthetic fibers that may give off harmful gases.
• Spraying on expanding-foam insulation, installed on the underside of roof sheathing in the attic.
• Installing dual-pane, impact-resistant windows that provide good insulation and are resistant to debris during storms.
• Using insulated concrete–rigid foam blocks reinforced with steel are filled with poured concrete. Provides high insulation value and wind resistance.
• Sealing duct work with mastic, a concrete-based paste painted over joints to prevent air leakage.
• Installing air conditioning systems with a SEER (seasonal energy efficiency rating) of 15, exceeding the code minimum of 12.
• Using compact fluorescent lighting. Uses less energy, generates less heat, lasts longer than incandescents.
• Choosing Energy Star appliances: refrigerator, dishwasher, range, oven, microwave, top-loading washer and dryer and ceiling fans. Certified to exceed federal standards for energy efficiency by at least 20 percent.
• Choosing dual-flush toilets that uses 0.8 gallon flushes for liquid or light waste, 1.6 gallons for solid waste. Kohler says its dual-flush toilet can save up to 2,000 gallons of water per year.

If your bathroom, kitchen or floor tiles are looking a little rough, consider renewing the grout, especially if re-tiling an area is out of the question. Considering that grout is dramatically less expensive than tile, your main decision has to do with choosing a grout color, which was recently simplified at Ask a Floor Guy.

There are hundreds of grout colors, it’s true, but according to everyone’s favorite flooring expert, you can simplify your choices in grouts by:

• matching your tile color
• choosing contrasting grout color
• choosing a neutral grout color

Keep in mind that darker grouts tend to hide stains better, while lighter colors can showcase the tiles or accent a design. In any case, re-grouting is bound to improve and freshen the overall look of your home, and therefore is a great addition to any home seller’s strategy. Happy home selling.

Photo by Flickr–Creative Commons, by juhansonin

A photo of the Denver Botanical Gardens (Flickr–Creative Commons)

Among Colorado home owners, the phrase “water, water everywhere” isn’t a phrase often thrown around. With summertime lawn watering restrictions in Denver, it isn’t always easy to keep things green when temperatures rise into the 90s and higher. But with homebuyers out in force this season, you don’t want to miss the opportunity to wow them with your Colorado home simply because your yard wasn’t all it could be.

Most Colorado consumers are concerned with rising gas prices, but if you’re buying a home in the Colorado Front Range, you probably have some ecological and financial concerns about water, too. Here’s a short list of things you can do this summer to keep your home looking great from the curb, whether it’s on the market or not.

1. If you have a sprinkler system, make sure it’s properly maintained. Leaks and inefficiencies can cost you both dollars and dead spots. Carefully research installers, and look into receiving an irrigation system audit that measures and evaluates your system.
2. Follow your neighborhood’s water restrictions (if there are any). Not only will you save the communities water supply, you’ll avoid fines or additional fees.
3. Water before 9:00 AM. Watering before it gets too warm outside raises the bang for your watering buck because you’re not losing as much moisture to evaporation. Avoid watering at night, however, because doing so can increase the molds and fungi that can take hold.
4. Ask your water department for literature or material on landscaping in a dry climate; further, ask an expert about landscaping/xeriscaping options.
5. Careful care and management of grasses can make them more water-wise.

The Washington Post recently put together a succinct look at home selling tips related to bathroom updates. It’s said that a dreary, outdated bathroom can be a home sale deal breaker.

Remodeling magazine says the average price of a mid-range bathroom remodel in 2007 was $14,445. But $500 worth of nips and tucks can upgrade the room, says Lytel Young, host of HGTV’s “Save My Bath.”

There are three important things in a bathroom. Clean, simple, and orderly. That’s the key for every budget, whether it’s $500 or $40,000,” Young says.

He recommends these inexpensive steps to sellers whose baths need a facelift:

• Rip out the dated medicine cabinet and replace it with a big mirror.

• Replace the lighting with new sconces on both sides of the mirror plus a new overhead fixture on a dimmer.

• Re-caulk the tub and shower.

• Repaint with a neutral color, but decorate with big, fluffy colorful towels.

• Hang some framed art.