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Stakeholders are divided over whether, in light of proposed changes to its capital rule, the FHFA should retool its agreement with the U.S. Treasury and remove policies some say never belonged there in the first place.

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This webinar will discuss what’s to come in the future of mortgage lending by analyzing past trends in the industry, evolving consumer behaviors and demographics of the industry’s production capacity.

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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.

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