Julie Tétreault, 2015 Women of FIRE

A few months ago, The Commercial Record asked it's loyal readers to nominate deserving women in the finance, insurance, and real estate secotrs for our 2015 Women of FIRE Aweards.  We received many nominations and our judges narrowed it down to 15 women who stood out from the crowd.  These women have shown substantial success in their field; they have demonstrated a commitment to professional and personal growth; and their work has enriched or advanced their field of endeavor.

I was honored to be selected among these elite group of women.  Click on the link below to read my interview.

2015 Women of FIRE profile - Julie Tetreault

Hi everyone!  Check out my newest video in the link below.  It's a minute and half long and tells a little about myself and how I service my clients. Please share with your friends and family!

How long do you usually recommend that first time homeowners own their "starter home" before upgrading???

I love receiving questions from people seeking real estate advice.  Below is a question I received via Facebook last week.  Please contact me if you'd like your question answered as well. 

Wondering if I could pick your brain. How long do you usually recommend that first time homeowners own their "starter home" before upgrading??? And also how do you advise them on upgrading in terms of what they can afford???

Regarding keeping your "starter home"... Honestly it comes down to your needs. Have you outgrown it? Do you need more space? Is the space not functioning for you in anymore? Perhaps you want to upgrade and take advantage of the lower interest rates and home prices. There really is no set time for upgrading it all comes down to life changes. I'm finding I have young clients who want to upgrade their homes to take advantage of the lower prices and rates but they don't have enough equity to do so. Many of them are keeping their condos or starter homes and renting them out. That could also be an option for you. I have one couple that wants to get out of their 1 BR condo to start a family and have a yard for their dog. So you can see it's all about lifestyle changes.

Regarding upgrading and affordability... yes be sure you go over the numbers over and over with your mortgage broker. I recommend my clients download the mortgage calculator app for their smart phone so as they go through homes they will know how much the house will cost them monthly. I have a DROID and use Karl's Mortgage Calculator which is awesome. The only thing it doesn't do is calculate PMI so you would need to just verify the final numbers with your lender but it will give you a ball park figure.

Also consider the extra utility cost of upgrading your home (heat, electricity, taxes, water bill, sewer bill, etc). I tell my clients for general maintenance of a home consider about 1-2% of the homes price every year in repairs. Some years will cost more than others but it gives you a ballpark of what to expect for updating, broken items, etc.

If you can afford to do a 15 year loan, now is the time to do it. The rates are so ridiculous.. in the 2s! You will build equity twice as fast and have a fabulous rate. Again, if you can afford to do it go for it. 

Sparkling 3 BR Colonial in Broad Brook, CT
Fantastic 3 BR Colonial in Broad Brook, CT just over the South Windsor town line.  Absolute pristine, move-in condition on cul-de-sac street.  Economical gas heat, hardwood floors, central air, and open floor plan.  Unwind and warm up in the sundrenched 4 seasons room overlooking the private lot!  Contact me today to see this gorgeous 3 BR Colonial in highly desirable neighborhood!

Julie Tetreault
Wallace Tustin Tetreault Realty
C: 860.539.0263
B: 860.644.5667 x135
E: JulieIsMyRealta@gmail.com

3 Value Adding Landscaping Tips

It took long enough, but the spring weather is finally here!  The warm weather always makes me anxious to get outside and spruce up my yard.  Landscaping is a great way to get exercise, add curb appeal, and increase the value of your home.. talk about a productive activity!  Below are some tips to consider before getting your hands down in the dirt:

-          You want to redo your landscaping but aren’t sure on a budget, well consider this… About 10% of a homes value should be in its landscaping.  So let’s say you have a $200,000 house, about $20,000 of that value should be in the plants, walkways, trees, etc.  That $20,000 isn’t just product, also consider labor expenses. 

-          Okay I have the budget, but how big should I go? When designing the front of home, your landscape design should extend half the distance of the height of your home.  For example, let’s say you have a 30 foot Colonial, your landscaping should extend 15 feet from the foundation into the front yard.  A landscaped yard following these specs will add curb appeal and provide for a grand look.  

-          Curves and winding paths are in.. straight lines and rigid corners are out!  I come from a family of engineers and they find this concept hard to grasp. Having all your little shrubs in a row like soldiers does very little to add curb appeal. In fact it’s more barricading than inviting.  Create a more natural surrounding with bunches of flowers and a winding walkway.  Kidney shaped flower beds and soft curves create a more park-like setting. Experiment with pavers and add curves for a softer more welcoming feel.

If you’re feeling a little overwhelmed or would like a professional I do have resources who can provide landscape designs and estimates.  Happy landscaping!   

Zillow To Add Rental Zestimate

I read a pretty interesting article today about Zillow offering a "Rent Zestimate."  Similar to their "Home Zestimate", the Rent Zestimate will provide an estimated monthly rent payment.  Based on the fact that 75% of tenants don't negotiate their rent, Zillow feels their Rent Zestimate will be fairly accurate.

This is going to be a great tool and resource for us as Realtors to use.  I know I sometimes have difficulty coming up with a rental price because the MLS isn't flooded with rentals.  I typically go to Craig's List to get a better idea of what an area is bearing for rental prices.  I'm looking forward to what Zillow has to say for our market area.

Top Immediate Energy Payback Projects

Everyone is looking to save money and energy these days and make their home more efficient.  The truth is buyers are also looking for these details in the homes they are seeking.  Here are a few tips to make your home more efficient, put more money in your pocket, and appeal to a wider range of buyers!

Projects with Immediate Payback (0 to 6 months)
Wrap the Water Heater Until you're ready to upgrade to a super-efficient, on-demand water heater (which costs about 25% less to operate than the big tank in your basement because it heats only the water you need), get the most from your existing one by covering it with a water heater blanket.  This insulated jacket fits over the tank to help reduce the gas, oil, or electricity that's required to keep hot water and at the ready.  You can install it in just a few minutes.  And while you're at it, insulate the first five feet of hot-water pipe after it exits the tank and the last five feed of cold-water supply before it enters the tank.  Together, these fixes will yield an immediate 15% reduction in the heater's operating costs.                      
COST: $30                                      PAYBACK: up to $50 per year.

Install a Programmable Thermostat Turning down the thermostat 7 degrees at bedtime will knock 10% off your heating costs, but who wants to wake up to a frigid house?  A programmable thermostat automatically drops the heat at night and cranks it up in the morning, so the house is warm before your alarm clock rings.  Program it to lower the heat again while you're at work and the kids are in school all day and you'll reap additional savings.  Best of all, many of these battery-operated units are easy to install yourself.  COST: $30 to $80                           PAYBACK: $100 to $250 per year

Seal Gaps and Cracks Check the attic floor and basement ceiling for gaps around pip and wire penetrations and fill them with insulating foam, such as Great Stuff, which expands to fill any void you find.  Check doors and windows for air leaks and seal with self-adhesive weatherstripping.                                   COST: $50 for all the Great Stuff and weatherstripping you'll need    PAYBACK: $100 to $250 per year

Use Compact Fluorescent Bulbs If you replace conventional incandescent light bulbs with CFLs, you can slash as much as 15% off your household electricity bills.  Look for bulbs with the highest Color Rendering Index you can find - generally in the low- to mid-80s, compared with early CFLs which scored about 70, and incandescents, which have a CRI of 100.                                                                               
COST: about $3 each; $60 to replace 20 bulbs, two-thirds of the bulbs in a typical house                 PAYBACK: as much as $10 a year for one high-use bulbs; $150-$170 a year for 20 CFLs