Dan Polimino's Blog

http://coloradodreamhouse.com/index.php/news/ So, what is it that people want when it comes to bathroom remodeling? Here is a short list that I complied while visiting some home and garden shows this past spring:

* A spa-like atmosphere. In tough economic times, fewer people have the opportunity to visit a spa, but if you made your master bathroom into a spa-like atmosphere, that would create some value in the home. Some surveys show that this is a high priority on a buyer’s wish list. After all, if you can’t go to the spa, it would be nice to have the spa in your own home.

* Heated Floors. This rated high on what people want in a bathroom. Since it’s not very expensive to install, why go another day walking on a cold floor?

* Luxury tile. Spare no expense here! What is on the floor matters - like travertine, marble, granite, or other solid surfaces. A great looking tile floor will catch everyone’s attention.

* Neutral colors. Colors change and different trends in shades come and go, but the latest, most popular colors that people want to see are neutral taupes and grays.

* More hot water, not less. Some people swear by tankless water heaters while others still like the good old fashioned hot water tank. Whatever products you choose, just make sure that there is plenty of hot water to go around. Don’t get a hot water tank that will just get you by, and if you go tankless, make sure it can handle a large load.

* Plenty of space. Pedestal sinks are nice and can be attractive, but people want space and more space. So think about having a large vanity with plenty of storage space and drawers underneath.

* A linen closet. This seems to be a must because it fits in the same category as space and more space. People want a closet in their bathroom to store the towels, linens and other items. Moreover, they want it separate from their clothes closet.

* Nice accessories. Like flat panel TV’s, heated towel racks, designer light fixtures, mirrors, jetted tubs. All these little things can add up and really make your master bath look like a “retreat” rather than just a bath.

Finally, it looks as though granite may start being pushed to the sideline. I have had more than one designer tell me that granite is out and less porous surfaces like quartz and soapstone are in. It seems that it’s getting harder and harder to stay up-to-date with the changes.

Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost

Many existing homeowners have decided to stay put rather than sell in this market. Other potential homeowners have found a home with a lot of potential that needs some work to make it their dream home. Unless you have lots of equity in your home, getting a second mortgage for remodeling is difficult if not impossible. The solution is a FHA 203k Streamline mortgage.

  
This mortgage will provide you with up to $35,000 for remodeling. The streamline program is for rehab work only. It is not meant for tearing out walls, popping the top, etc. One of the many benefits of this program is that the value, for qualification purposes, is considered "as is" after the work is completed. The homeowner gets a bid for the work for the improvements they want done and shows it to a specially trained 203k appraiser. This helps to protect the borrower to make sure the money they are pumping into the house is cost effective.

 
One huge benefit of this program is that it may potentially help homeowners with high interest rate loans who could not refinance because of loan to value problems. As always, talk to a mortgage professional to make sure the numbers make sense. Glad to help with any scenarios you have in mind. Of course, no cost or obligation.

Best, Chip

Chip Allen

Crestline Mortgage Bankers

A Division of Universal Lending Corp

Direct: 303.947.2109

Fax: 303.987.0676

Loanchip@hotmail.com

Your Lender for Life!

When people you care about need a mortgage,

for purchase or refinance, please do not keep me a secret.