True Stories: Hybrid, eNote and RON Implementation

Join expert panelists that will discuss the status of federal legislation, trends in digital adoption and how best to prepare your organization for the next generation of lending processes.

Logan Mohtashami talks jobs report, mortgage forbearance

Lead Analyst Logan Mohtashami discusses his recent article on the latest jobs report and the most likely impact on the housing market and mortgage forbearance.

UWM has a plan to win a war of mortgage attrition

UWM's margins will fall all the way down to 75 to 110 bps. Mat Ishbia says it's the perfect environment to prove that his mortgage firm is truly elite.

Lunch & Learn about underserved markets and affordable housing

Experts in this discussion will focus on how the mortgage industry is working to right previous wrongs and champion a housing market that serves all.

Real Estate

Smoking kills… your home’s resale value

Smokers' homes can lose up to 29% of their resale value

We all know that puffin’ is no good for your stuffin’ (organs), but did you know that it can also be detrimental to your home’s value?

According to Realtor.com, smoking in your home can gut its resale value by up to 29%.

The problem is tobacco smoke byproducts can cling to walls and other surfaces like smoky spiders long after you've moved out and taken your smoke with you.

"You could breathe in several hundred nanograms of these carcinogens long after the last cigarette burned out,” Joshua Miller, director of technical training at Rainbox International, a home restoration company, told Realtor.com.

If you think you can hide the smell, think again. Buyers can definitely detect an uncovered tobacco smell, but they can also get suspicious if there is an overpowering scent of air freshener in the home.

The only real solution is deep cleaning, sometimes to the point of replacing whole systems in the home.

So, if you smoke and you’re about to put your home on the market here’s what you need to do:

  1. Quit, that stuff will kill you.
     
  2. Get your airducts professionally cleaned.
    This is one of the most effective ways to get the stench out of your home. Smoke scent can seep into and settle in your air conditioning system.
     
  3. Wash your walls and ceilings.
    Miller recommends using a 3:1 vinegar to water mixture to scrub the residue off your ceilings and walls. Pay special attention to the ceiling as this is usually the first and final resting point for smoke residue.
     
  4. Clean any fabrics in your home before showing.
    Use a deodorizing powder like baking soda to help get the stink out of the carpet.

3d rendering of a row of luxury townhouses along a street

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