Maximizing Multiple Listings

November 6, 2017 by jdemarco

MAXIMIZING MULTIPLE LISTINGS

We’ve come a long way since “The Book” was our tool for sharing the latest listing information from the Multiple Listing service (RMLS) with our clients. It’s hard to imagine in today’s world with information being at the ready via social media and advancements in internet technology that we once eagerly waited twice monthly for a hard copy publication to be hand delivered so we could share it with Buyer’s & Seller’s. Buyer’s eagerly waited for ‘new’ listings that they may not have already become aware of via Open Houses, driving by a sign or reading a newspaper ad. Seller’s simply wanted to take a look to see that their Home had ‘made the Book’ and how it looked. Despite the speed at which listings are now delivered the common thread that still remains is listings that sell quickly ultimately rely on creative marketing from Broker’s who can portray an appealing image to both Broker’s and potential Buyer’s alike, via the Multiple Listing.

A good social media campaign is essential to getting the word out about your Home but, what if the words & images aren’t so flattering ? If remarks, images & information isn’t portrayed in a thoughtful manner that creates a positive vision for the viewer then you’ve now put that out to more places than ever but, in a ‘not so flattering light’. If you were to ask Brokers today who the multiple listing sheet should be marketed towards I would venture to say that most would indicate ‘to potential buyer’s”. Of course, that’s in part correct however, the multiple listing on your Home has a “Private” remarks section that only Broker’s can see, as well as a “Public” remarks section with certain Confidential Seller information omitted. The more complete answer to that question would be it’s designed to appeal to both, Broker’s & Buyer’s alike. In fact, there may well be something said for the multiple listing sheet being weighed more heavily in marketing towards Broker’s then Buyer’s. The multiple listing is the place where the Buyer’s Broker obtains all the pertinent information about the property, makes certain judgments about the credibility of that information and the Broker who prepared it. Ultimately that Buyer’s Broker is the only conduit to the buyer and it’s crucial to set the right tone. If that weren’t enough to create a better understanding of the importance of marketing to other Broker’s, keep in mind this is the same place those Broker’s derive their first glance at what their potential commission will be.

With all the marketing tools at a Broker’s disposal today the single most important first impression that is created is the ‘Private’ & ‘Public’ remarks section of the multiple listing sheet. From our prospective in Listing your Home with Investors Trust Realty we always strive to capture & retain the attention of Buyer’s Broker’s via the multiple listing sheet, first & foremost. It still amazes me how often I hear from a Seller I may have contact with that information on their multiple listing is incorrect to a certain degree. What I find to be even more astonishing is how many of those Seller’s in turn say they’ve never actually seen the full version of the multiple listing sheet their Broker prepared. Buyer’s initial discovery of a newly listed property may in fact be generated from someplace on the internet however, it will ultimately come down to utilizing the multiple listing sheet when it’s time to write an offer. It’s critical that all documentation is provided to Seller’s & it’s uses well communicated, we make certain that’s a top priority at Investors Trust Realty.

In marketing the multiple listing sheet towards Broker’s we utilize several marketing techniques that are universal to selling, regardless of the product or service being sold. First, we always utilize as much of the allotted drop down menus for descriptions, amenities and room dimensions. In regards to the latter, Investors Trust Realty listings are professionally measured by a State Licensed Appraiser…A Quality Appraisal prior to going on the market. In addition to the protection it affords our Seller’s from potential liability for misrepresentation of inaccurate measurements, it demonstrates credibility to the Buyer’s Broker that everything has been done in order to verify accuracy. The floor plan is attached as a PDF so Broker’s can download it. We’ve created another analytic tool to monitor activity as well as an insight as to which Broker’s may require further contact . A complete multiple listing sheet is a welcoming site for Broker’s who look at numerous listings on a daily basis, it’s part of the process that engages their support towards promoting your Home to their Buyer clients. It’s critical that we at Investors Trust Realty do everything possible to make it easier for the Buyer’s Broker to help us sell your Home to the Buyer’s, after all we want those Buyer’s to be your Buyer’s as well. In regards to the all important ‘Private’ remarks section that is intended to appeal to Broker’s we are striving to create a vision in 280 characters that will provide them with enough evidence to take an advocacy stance on your behalf with their Buyer’s. A couple of things we always adhere to is first, project an image that “if you show this listing you won’t be disappointed once you arrive with your clients” and second, do so with the same descriptive language that is directed at Buyer’s while not reiterating anything they can easily find someplace else in the listing i.e., mentioning how many bedrooms & baths there are. Every listed property is unique in its own right thus the ‘Story’ we tell about your Home at Investors Trust Realty is tailored towards an audience we envision based upon over 20 years of Marketing Homes. Here are a couple of examples of ‘Private’ remarks on recently sold Listings:

Private Broker Remarks:

“Perfect blend of character from yester-year coupled with tastefully selected finishes & unparalleled attention to detail are evident throughout this turn of the Century Tudor. Tucked away against a backdrop of gently rolling farmland & just minutes from it all…a rare opportunity.”

…from a 1900 era Tudor on the outskirts for Gresham to this multi-family duplex with development potential in Forest Grove. An entirely different audience to market to.

Private Broker Remarks:

“Painstakingly refurbished with unparalleled attention to detail this side by side duplex sits on a meticulously manicured 1/2 acre parcel with potential development possibilities for 8 additional units. No surfaces left untouched on this truly turn-key ready operation”

Marketing your Home to the general public, via RMLS (Realtors Multiple Listing Service) allows us up to 440 characters to ‘tell the Story’. In addition, Confidential Seller contact information is not available to the Public, nor are the ‘Private Remarks’. Below are the same two listed sales with Remarks the general public will see. Our goal is the basically tell the same story however, it’s critically important to touch on the Community around the property as it either introduces or confirms to the buyer’s that this is the right place to be !

Public Remarks Section:

“Nestled away in a tranquil rural setting & just minutes to shopping, freeway access & fine dining this impeccably maintained turn of the Century Tudor has been painstakingly updated with quality finishes & unparalleled attention to detail throughout. Meticulously manicured grounds feature well-appointed natural materials amongst tastefully selected ornamental plants creating a serene setting for those with the most discerning tastes.

Public Remarks Section:

“Situated on a meticulously manicured 1/2 acre parcel with development potential for 8 additional units this side by side duplex is just minutes to Pacific University, Parks, shops & Downtown Forest Grove. Painstakingly refurbished with unparalleled attention to detail, no surface has gone untouched. Turn key ready operation coupled with potential for future development makes this a truly rare opportunity for the astute investor”.

Providing maximum exposure for your Home via social media is a critical component to your success in selling. Once the Buyer’s and their Broker have collectively decided to make an offer on your Home the real work begins. That includes a feeling out process to determine not only the accuracy of the information but, the perception of top level representation & marketing they get from the multiple listing. This foundation we create at Investors Trust Realty allows you to not only get an offer(s) on your Home but, is much more likely than our competitors, to keep your transaction together for a successful closing.

Transitioning Between Houses

November 7, 2015 by jdemarco

Transitioning Between Houses You’ve decided it’s time to buy a new home however, you have a home you need to sell in order to do that, or at the very least want to minimize the carrying costs & uncertainty about locating your next home in the interim…how do you manage transitioning between houses ?

Do you sell your house first, then hopefully find the next one or do you find your next home & hope you can sell your current home quick enough to close simultaneously on your next one ? We’ll discuss everything in between, including the current Portland metro area market & what factors you should consider along the way so, let’s begin…

One of the most important things to understand is that in most cases your probably moving to improve your quality of live to some degree and have envisioned what life will be like in your next home. With that serene picture in mind, there is no need to distort that vision by creating undue stress thus, remember why your doing it and that it’s a choice & most likely not a necessity. Of course, there are situations that life can dictate to us such as failing health, employment changes or a need to create a multi-generational household but, despite the importance of the need to do so, all the information contained herein is equally applicable to your situation.

Once you’ve decided your going to make the move & have weighed the pro’s & con’s, including how it might effect your situation if you didn’t make the move, your next to step should be to develop a level of comfort as to what’s reasonable to expect as far as making your next purchase. In our current market there is just a mere 1.9 months of inventory available as of September 2015’s Market Action published by RMLS. That may bode well for Seller’s however, it creates challenges for buyer’s thus it’s important to start thinking about things as a buyer does. In many areas in and around the Portland metro we are seeing rapid appreciation & multiple offers however, that is slowing just a bit as winter approaches and where you may be looking may paint an entirely different picture. In addition to preparing your finances for that next move via providing your lender with updated information, it’s important to note that even though you may have purchased just a few short years ago that the landscape is ever changing thus you can never start that process too soon. The most pressing concern buyer’s have is ‘what will my new payment look like’ however, that may not even be a consideration if there is nothing to buy. The comfort level an individual requires varies on many fronts, with no two people being exactly alike. Typically, I would suggest that as part of this process of ‘easing’ into this next phase of life scenario that we spend ample time looking at not only new listings (if they are available) but, sale fails & recently sold properties as well. With so little to choose from it’s crucial that you have a realistic view of the overall market, including what & why certain houses sell, as well as for how much. What we don’t want to do is give away everything that you may have just made on the sale of your house (or will potentially make) by proceeding on emotion rather then with as much knowledge of how the market’s been behaving. We want to have a thorough understanding of the market before entering into it, as hesitation based on a lack of preparedness or spending too much based on pure emotion will produce poor results. How long does this process take ? It obviously depends upon the individual but, when taking into consideration the preparation of a home to sell I’m typically seeing clients starting the conversation anywhere from a month to 6 or more months out. It’s never too soon to start your on line search to help develop that comfort level & no better place to start then here.

Once you’ve determined how much your new mortgage payment will be & whether or not what you hope to find does exist, even if only for sporadic periods, then your most likely looking for anyway possible to avoid having dual mortgages in place, assuming you would qualify to do so. Since you are now wearing two hats, one as a Seller & the other as a buyer, you should be able to better understand where a buyer who is purchasing your house or Seller you are purchasing from are coming from. Again, with just 1.9 months of inventory we are in a Seller’s market, assuming the property is priced correctly and has been prepared for market so as to appeal to buyer’s. The likelihood that you would consider an offer on the sale of your house that is contingent upon a buyer’s home selling i.e., a Contingency Offer, is pretty slim, unless of course you had no other offers but, that would also mean you have an issue that has made your property something other than what could be defined as being a “Seller’s Market Property”. If, as a future buyer, your first choice is to make offers contingent upon the sale of your property you should consider that first, it’s highly likely to not get accepted if the house has any sort of activity on it. Second, most Seller’s, or at least their Broker’s if they are providing good counsel to their Seller’s, would expect a Contingency offer buyer to pay a price premium for coming off the market for the uncertainty of a transaction that may never close. After all, Contingencies are things which may or may not happen, just like in everyday life. Again, as mentioned previously the goal should be to not give away what you may make via the sale of your house. Last, although not always the case you should consider that in a market where most homes are selling fairly rapidly that if a Seller is willing to entertain a Contingency offer you should be diligent in your efforts to understand why and that’s where your Broker can be most helpful in possibly attaining information you might otherwise not be able to gather on your own. There are obviously unlimited terms & conditions that could be added to any offer that could ‘sweeten’ the pot, including those made in concert with a Contingency offer however, that too is most likely subject to your Buyer’s Broker uncovering some pertinent fact and/or being able to articulate a certain need that a Seller appears to have based upon communications with a listing Broker. It’s not a given that a Contingency offer can ever be entirely ruled out as it depends on the individual circumstances surrounding each & every transaction & there are no two that are exactly the same.

The likelihood of a Seller accepting your Contingency offer is fairly slim so, how about negotiating a lease back on your current house while you search or wait for the 2nd house to close ? Just as was the case with individual circumstances surrounding each & every transaction not being exactly the same, as mentioned in regards to Contingency’s, it all depends on being able to understand your current situation well enough so as to not give anything away for the convenience of being able to stay over. Depending upon the amount of activity you may have on the sale of your current home your Broker (and ideally it’s the same Broker who will represent you in the purchase of your next property) may be able to gauge just how far you can push potential buyers in a multiple offer scenario so as to suggest that in addition to price, their getting accepted may hinge upon a limited lease back of the property to the Seller. Unless that buyer is paying cash (actually about 35% of sales are currently all cash) or via a non-owner occupied investors loan that buyer may be limited to do such a rent back for no more than 30 days based upon conditions of their loan. In addition to the aforementioned limitations, specifically those of buyer’s with owner occupied financing (the majority), a Buyer’s Broker who is providing thorough counsel to their buyer clients may convey that a Seller stay over has some potential liability that the buyer should consider thus, it may eliminate some or all of those potential buyers. The current Oregon Sales agreement (O.R.E.F. 054) does address in much greater detail then we would venture into here the terms & conditions under which each party is responsible for certain acts & costs etc., however, despite it’s best intentions over (4) pages there will always remain issues that will require additional deliberation, either by a Court or perhaps an insurance carrier. Point being, any attempt to stay over as a seller in order to easily transition into a purchased property may eliminate potential buyer’s who might bring the best offers thus, another scenario wherein your Broker can advise you.

What about those who would gladly carry (2) mortgages for a brief time but, aren’t able to qualify to do so ? Bridge loans have existed for a long time however, even in the boom market in the late 90’s and into the early 2000’s it was no secret that the costs were prohibitively expensive. With rates in general being lower then in the past the Bridge loan looks less attractive by today’s standards.

Although not practical for everybody hoping to transition from being a seller to a buyer, having a stopping point in between i.e., a rental property, allows for optimal strength on both sides of buying & selling. As a seller you have the flexibility in moving quickly from your property which some times can be looked upon favorably by a buyer who may pay a premium in price for the convenience. In addition, it allows you as a Seller the opportunity to slowly & methodically remove personal possessions from your home to better stage it for sale. From the buyer’s side of the equation you have the flexibility a seller might be looking for when deciding which offer to accept, moving quickly on a vacant house or perhaps a longer escrow where needed. Having your offer accepted is not entirely about price and having some flexibility and a verified down payment waiting makes your offer more attractive to a seller.

With home ownership being at it’s lowest level since 2004 it’s created a very competitive rental market thus, it’s not just homes for sale that are in short supply. The vacancy rate in the Portland, OR metro area is 2.5% at this time thus, you might disregard much of what I mentioned in the last paragraph about the possibility of renting in between. Typically, the initial response from clients might be one of dismay at the idea as they see the same difficulties in finding a short term rental as they do in finding their next house. In most cases this because they are looking at traditional rentals wherein the landlords are looking for long term tenants with terms & deposits etc. that are not geared towards shorter stays. With all the rentals that should be available due to record low home ownership why would vacancy rates be as low as they are ? In many cases those investors have ventured into shorter term rentals where regulations allow and have been able to get premium returns as a result. Programs such as VRBO, AirBnB & FlipKey have opened up short term housing in local areas throughout the Nation & Worldwide. There are numerous spin off websites in our area with similar rental opportunities that are priced competitively with local long term rentals, yet without the large deposits & other conditions we would hope to avoid that are common to traditional long term rentals. I sold several properties this year alone that will be used for short term rentals.

As is the case with every Real Estate transaction being different in their own way, the answers to your particular needs & requirements may require a combination of some or all of the ideas put forth in this blog.

Best Regards,

Bob Zawaski P.C., G.R.I., C.R.S., S.R.S., A.B.R., S.F.R., e-Pro

Oregon Licensed Principal Broker / Owner

Investors Trust Realty

[email protected]

www.iTrustRealty.com

Multifamily Conversion

February 10, 2015 by jdemarco

When one thinks of the term conversion as it’s used in Real Estate, one of the first thoughts that may come to mind is that of converting multifamily apartments to condos. As prices continued to appreciate during the years prior to 2007, there were numerous conversions that yielded far better returns ‘by the piece’ then as a ‘whole part’. When values soon thereafter began their rapid downward descent many of those property owners were faced with making mortgage payments on a property whose value was far less than what they now owed and/or paying monthly Homeowners Association dues. The combination of weakened buyers coupled with fractured Associations is just one of several components that have contributed to home ownership being at it’s lowest level since 1995. As a result of decreased home ownership (64.8% in 2014) the rental market has seen increased rents throughout most of it’s segments. In the Portland, OR metro area rents have increased by 5% in the last 6 months with Downtown rents typically going for $1.82 per sq. ft. & NW Portland rents spiking to $1.61 per sq. ft..

The overall market is certainly stable & it appears that we’ve been out of that downward spiral long enough that we can now look to the future with some degree of confidence. In most areas, we’ve made it back from the ‘bottom of the market’ but, depending upon location the gain may be very slight. It would be easy to simply suggest that location has most everything to do with the recovery or lack there of…after all Real Estate is all about location. Some of the causes & fixes to those issues still linger and can either hinder or help investors in the current market. It’s some of the residual effects of that down market that we can reflect on to examine strategy going forward & incorporate some ideas that may have been ‘shelved’ along the way.

Although not a new concept by any means the conversion of a Condo Association back to rental apartments & potentially being marketed as such has never went entirely off the landscape. Frankly, in addition to such conversions being done for a very long time it wasn’t until I had the opportunity to weigh the needs of two entirely different clients that I decided to investigate not only why certain market factors effected values but, how & when it might be appropriate to think slightly contrary to what the market is doing. The client who initially inquired about values within his small condo complex being somewhat lower than similar neighboring complexes understood that having lost FHA certification when the ‘do over’ button was hit and everyone had to re-apply & subsequently not being able to qualify again was a factor, as was a self imposed limitation placed on selling to investors. With values still slightly below 2007 levels this client has purchased a 2nd unit with an eye towards slow & steady appreciation, as well as the possibility of gaining enough control in the Association with future purchases that might allow changes that will make the units more marketable, such as allowing a limited number of rentals. Certainly a long term outlook at what appears to be the ‘bottom’ of the market for this complex seems to be a good strategy. In the event this clients goals are met in regards to owning a majority of units and making positive changes I wondered how that picture might look if this particular complex were converted to a Multifamily rental property under his ownership. Of course, by the time he might own enough units the market could have an entirely different landscape then it has now but, I couldn’t help wondering how my Multifamily buyers, who are experiencing a severe shortage of inventory, might view this property today & how that use compares to it’s present use.

At their current market values owners are typically seeing sale prices around $70,000 throughout this 11-unit complex thus, an aggregate total of $770,000. Based on current market rents @ $895 each this property would gross $118,140. With a 5% vacancy factor (our area at present is ranging from 2.2% to 3.4%) plus 40% in expenses ($44,893 Proforma) we would have a net operating income of $67,340. At present, the Portland, OR metro area is seeing CAP rates of 6.7 for properties in this category thus, it would be marketed at $1,000,000.

Obviously it’s not a simple task to dissolve an Association nor should it be done without the guidance of an Attorney & C.P.A., both with HOA experience. Having an understanding of By-Laws and how to navigate the process smoothly, especially dealing with remaining owners, is something that should be taken into consideration long before the situation presents itself…again something your Attorney can guide you with. Disbursal of Reserve funds and all the detailed accounting, including compliance with I.R.S. regulations are issues best left to your C.P.A. Like most other financial ventures you should be long on both education & the execution of those ideas, it’s my goal to act as a resource for my clients and give them a foundation upon which to carry forward their own investment strategy. As I mentioned previously, it’s difficult to tell what the market may look like several years from now but, there has always been room for successful investments in up or down markets.

Having the resources of seasoned professionals at the ready, in addition to over 20 years assisting investors exceed their financial goals are just a few reasons to contact me today !

Jim DeMarco P.C.

The Voices Behind You

October 16, 2014 by jdemarco

Be it the Seller who lingers just long enough for a ‘meet & greet’ with your clients or the disgruntled tenant who needs to air a laundry list of perceived code violations your going to run into someone willing to voice an opinion just when you thought you were alone i.e., the voices behind you. Being aware of your surroundings should always be a priority for safety sake thus, being prepared to respond to a friendly “excuse me” or an empty beer can coming your way should come naturally…I’ve dealt with both. How you deal with an impromptu situation may be your clients first opportunity to see first hand how you treat a total stranger or whether your ability to ‘think on your feet’ might translate well into negotiating them a good deal. It’s an opportunity to practice both good citizenship & let your clients know who you are.

Today’s encounter was not unexpected thus, I knew the well meaning property manager on my multifamily listing was going to open more than just a few doors for the commercial appraisers and I. Again, unlike the disgruntled tenant, she had no real intention of sabotaging a listing that now spans over 15 months and is just a few weeks from closing…if only these two seasoned appraisers don’t take issue with something said today. Of course, once the interior inspections were completed and a Q & A was about to commence they suggested that the property manager stick around as well, just in case she had some ‘additional insight’. Of course, in order to get myself in the right frame of mind the voice in my head said “That’s a great idea”.

It didn’t take long for a few questions regarding some deferred maintenance issues to go off the rails a bit with that ‘additional insight’ they were originally looking for when they asked the manager to stay. I’m pretty certain that both appraisers knew exactly what they were getting themselves in for by inviting the property manager in for the Q & A session. What better opportunity to quickly decipher what conditions might exist then to have the property manager serve up an outlandish tale to explain a hole in the wall and gauge my response to it. I will admit that the prolonged laughter the property manager exhibited when she described squirrels running circles inside one the units almost reached an ‘uncomfortable moment’ however, it also allowed me the opportunity to answer a few questions that were waiting for answers, as well as posing one to the manager about landlord/squirrel law.

Having worked for years in the Health Care industry prior to my 20 + years in Real Estate I found that recognizing & allowing someone an opportunity to take center stage, however brief that moment may be, may be more important to them then you’ll ever know. As I answered the appraisers questions about financials & condition issues, I made a point to address everyone in the room equally. I could sense by her silence that some of this ‘financial stuff’ was either getting by her a bit or perhaps she was just taking it all in, either way it seemed to have slowed the additional voices in the room.

As the appraisers and I parted ways one of them couldn’t help mentioning that “It appeared you had some help today ?”. I knew from their eye contact with one another that they not only planned for such a scenario but, were entertained as well so, hopefully we’ll come in at value with no conditions being required. I got a follow up e-mail from the appraisers later that day simply stating they enjoyed their visit, not something that happens very often. I may not know ‘Jack’ but, those voices do come up with some great ideas from time to time.

Multi-Generational Housing

August 30, 2014 by jdemarco

Home ownership is at it’s lowest level since 1995 thus, the rental market has experienced record low vacancy levels, in fact Portland, OR is 5th in the Nation with a vacancy rate of just 2.2%. In some cases, would be renters have started doing what is very common place in most other parts of the world, move in with family i.e., Multi-Generational living.

From a Broker’s prospective it’s always been a dual edged sword, either you couldn’t find a home that had separate living arrangements on those rare occasions when new buyers inquired or you spent countless hours pondering the challenges in listing & selling such a home as you realized it was a limited audience. Perhaps potential buyers would have been more open to the idea of purchasing a property that had dual living arrangement possibilities if they felt they weren’t paying for something they might never use, such as a 2nd kitchen or laundry area…after all, getting the most bang for your buck is a universal goal.

I started thinking back to all the houses I’ve been inside that could have had a wide variety of uses but, decided to go in one direction or another with no turning back. For those who may be considering creating such a living arrangement in their own home or possibly purchasing one already done, I thought I would share some thoughtful design tips from an upcoming listing of mine at 476 SE 26th Ave Hillsboro, OR. Credit for any helpful tips should really go to the Seller/Owner for keeping things in perspective in regards to just how far to go in weighing needs to make life easier versus future resale. It certainly didn’t hurt matters that the builder ( a life long friend of the Seller & client of mine) had a few thoughts of his own, in addition to being a master craftsman….that all happened in 1996, long before I came into the picture.

There are certain considerations that hold true whether building/remodeling for a special purpose or to create the most value for future resale. Typically, a one-level property sells for anywhere from 5-15% more than a comparable 2-story house with the same square footage. This particular house is a day ranch thus it does have 2 levels, although it was designed & built to conform with the naturally sloped lot it sits on. The lower level is above grade and the rear patio is accessible from any of the (3) 8′ sliding glass doors, certainly not a basement feel. The exterior excavation utilized at the time allowed not only for proper drainage, hard scape & deck walkways around but, also took into account the possibility of someday eliminating steps in order to create gradual grade paths that would be ADA compliant. The front entrance has a ‘no step’ entry with sure footed hard scape leading up to the house, suitable for all weather conditions. Wide hallways & doors not only allow for easier movement within the house but, the open feel does not go unrecognized by those who don’t have any mobility issues thus, another future resale plus. Flooring materials that are attractive but, also serve in being durable & slip resistant are also considerations that can’t be overlooked…the use of high quality tile & tight pile carpet throughout lend itself well to both beauty & practicality. Bathroom shower design in recent years has seen a trend towards walk-in’s, in many cases with no threshold defining the showers edge…the design of the showers herein was most likely done with practicality in mind but, there certainly was thoughtful attention to detail for future resale. The kitchen, or in this case kitchens, is the central point to any house and moving about them as been made easier with an open layout with wider than usual entry/exit points. With the potential for 7 bedrooms, although listed as 5, the ease for adding/subtracting rooms or changing their purpose has been made far easier by a well thought out design. The foot print of the house incorporates strategic placement of utilities, including electrical outlets, heating & cooling vents & plumbing. Planning for future improvements should always be a consideration for your remodel or new construction project, as it was in this case.