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How Your Bedroom Can Help Sell

Friday, September 30th, 2011

A great master bedroom will help sell your home. But you don’t have to spend a lot of money, time and effort trying to impress buyers. Following are 11 easy ways to spruce up your master for little money:

  • De-clutter and de-personalize. Buyers want to see themselves in the master bedroom. Don’t surround them with the trappings of your life. 
  • Clean, clean and clean some more.
  • Make necessary repairs.
  • Paint. You don’t have to go for beige (or gray, which is the new beige), but emphasize the room’s spaciousness with lighter colors. Don’t forget the ceiling.
  • Move some of the furniture out to add to an airy, uncluttered feel.
  • Heavy drapes might be nice at night, but during the day they can feel confining. Take them down and buy inexpensive sheers. Add blinds for light control.
  • Speaking of light, add more task and ambient lighting, and leave lights on to minimize shadows and illuminate dark corners.
  • Buy a new duvet cover.
  • Hang inexpensive artwork or a mirror and lose the family photos.
  • Don’t cover hardwood floors with carpeting or put furniture in front of a window with a view.
  • Clean out the closets so buyers can see the space and decide if their clothes will fit.

What You Need to Know About Short Sales

Tuesday, September 20th, 2011

What Is a Short Sale?

Short sales occur when the bank and seller agree to a purchase price for real estate that is less than the original mortgage amount and does not cover the entire cost of the existing debt obligation.

Who Benefits?

Depending upon how the deal is structured, everyone can benefit from a short sale. The seller benefits from the ability to save his or her credit rating and avoid bankruptcy or face a mountain of debt, the buyer benefits from acquiring a property at below market price, and the lender benefits from a sure sale that reduces the risk of a property going to auction or of having to foot the bill for foreclosure and additional expenses.

Considerations and Consequences

Short sales are not without consequences, so take time to carefully weigh all options before making a decision. Sellers need to carefully review the terms prior to signing a final contract and always consult your real estate attorney and Certified Public Accountant. It is not wise to enter into any agreement with any lender without the advice of your attorney.

Some lenders expect the seller to make up the difference between the selling price and the full amount of the original mortgage. Buyers should also proceed with caution, as many properties have additional liens, deferred maintenance, back taxes or other expensive fees that become the obligation of the buyer.

Additionally, short sales may require substantial time before obtaining final approval, which can make it difficult to lock in favorable rates or result in the loss of other prospective properties.  If you have any questions or would like more information about listing or buying a short sale, call me.  As a Short Sale and Foreclosure Resource Realtor, I can help you understand the process and make the best decision for you.

Five Solid Ways to Improve Your Home’s Curb Appeal

Thursday, September 15th, 2011

A savvy front yard can ramp up your home’s curb appeal without costing a fortune.

If you’re planning to sell – or even if you’re not – it’s a good idea to keep the outside of your home spruced up.

Following are five ways to up your yard’s savvyness quotient:

1. Think like a drive-by viewer. Your home may tell a very different story when seen from across the street. Is there an attractive transition from road to front porch? Does it feel welcoming? 

2. You don’t have to splurge on a landscape designer to create a new look for your front yard. While you’re viewing your property from across the street, look at it as a whole. Consider the “hardscapes” like your porch, front door and walkway and the “softscapes” like plants, hedges and trees. Create a focus by painting your front door a different color, and keep the rest simple. 

3. Peeling paint and cracked sidewalks say something about the way you maintain the house as a whole. Some elbow grease and a bit of paint can do wonders for your home’s curb appeal. Keep hedges clipped, leaves raked, lawns mowed and the kids’ toys stored out of sight.

4. Curved flower beds are more welcoming than a straight display. Choose plants and foliage that complement your exterior paint scheme and support the mood you’re going for. Bright colors like yellow, orange and red are attention getters. White is vibrant at night, and pale colors convey a calm mood.

5. Don’t forget about lighting. Make it easy for visitors to navigate your walkway and find your front door at night.

How to Choose the Right Home Inspector

Monday, September 12th, 2011

If you’re hiring a home inspector prior to signing off on a piece of property, there are a few things you might want to keep in mind.

Following are some important questions to ask:

Home Long Have You Been Working in the Field?

An inspector should be able to provide references and a history of experience. It’s also important to know about his or her background.

What Experience Do You Have With Residential Inspections?

A background in engineering or construction is a bonus, but if the inspector has never worked on a home, it won’t help much.

How Much Time Does an Inspection Take?

A thorough home inspection should take between two and three hours, depending on the size of the home.

Special considerations need to be taken when looking at wood-burning fireplaces and swimming pools.

What Will the Inspection Cost?

The cost of the average home inspection is $300 to $500, depending on the region, size of the home and the complexity of the building systems that are used.

What Type of Inspection Report Is Provided?

Some inspectors provide a big binder full of information, but if you don’t understand the report, that information is essentially useless. The report should be clear and help guide your final decision to purchase the home.

Do You Belong to a Home Inspection Association, and Do You Attend Continuing Education Courses?

Building technologies are constantly evolving, so an inspector should be educated to assess all aspects of a home, regardless of its age.

Membership in an organization like the American Society of Home Inspectors means the inspector has been certified and approved by that organization.

Thinking of Buying a Fixer-Upper? How to Do It Right

Thursday, September 8th, 2011

With proper due diligence and the right REALTOR®, buying a fixer-upper can be a satisfying and lucrative experience. Buying a bad one, though, can lead to disaster.  Here are some tips to help you avoid problems:

 Location: A bad house in a desirable neighborhood is almost guaranteed to pay big dividends for the savvy buyer. Here’s where a good real estate agent – as a specialist in local neighborhoods – can be worth his or her weight in gold.

 Mass Appeal: You’ll want to look for a home that appeals to the largest number of buyers. That means three or more bedrooms and more than one bathroom.

 Sensible Layout: Look past the current floor plan and figure out how the home will work. Today’s buyers look for openness and rooms that flow seamlessly.

 Bang for Buck: Avoid costly makeovers like shoring up sagging foundations. Instead, think cosmetic fixes. Plaster and paint, new bathroom fixtures, and even a new roof and energy-saving windows are relatively inexpensive and can turn your ugly duckling into a beautiful swan.

 Potential Problems: An investment in a good home inspector can save you thousands of dollars in the long run. You can try requesting a home inspection and a roof certification as part of the deal. Ask your real estate agent about any nearby landfills, reports of contamination and other conditions that could affect resale value. You may even want a structural engineer to examine the property as a condition of sale.

How to Give Your Home a Light and Airy Feel

Wednesday, September 7th, 2011

The properties of natural light are well-known. It expands your space, brightens dark corners and gives your home an airy feel. If you’re selling your home – or even if you’re not – try adopting some designer tricks to increase your home’s natural wattage.

Paint is one of the least expensive and most effective ways of lightening up your home. Light colors reflect light and bounce it back, making a space look larger. And yes, painting your woodwork cream or white is allowed and does increase your light quotient.

Mirrors also bounce back natural light, but they should be used sparingly. Bring in the outdoors by hanging a mirror opposite a window.

Light-colored gauzy curtains or plantation shutters also contribute to that airy look. Louvered blinds can be tipped to take advantage of the sunlight as it makes its way around the room. And don’t forget that slipcovering your furniture in lighter-colored fabrics is another easy way to lighten up.

If you’re prepared to make structural changes, adding a skylight to a dark room is effective, but trimming back outdoor trees and shrubs that are filtering the light may do the trick for less money.

For open houses, turn on indoor and outdoor lights. Even during the day, inside lighting can make your dwelling feel homey, prevent harsh shadows from sunlight and brighten dark corners. Dust and vacuum well, as illuminated dust bunnies won’t do anything for the appeal of your home.