Archive for February, 2011
As we begin a new year, it is obvious we are still in a Buyer’s Market. That shouldn’t discourage owners from listings their home but rather inspire them to get creative. It appears that there is no shortage of inventory in any given area across the Country which can overwhelm both Buyers & Sellers. Now is the time to get serious and incorporate additional techniques during the time your property is on the market. Below are just a few recommendations that will go a long way all while separating you from the competition:
Paint: Sounds simple and makes a BIG difference. Take one room at a time and really take your time to do it right. Edging trim and evening the multiple coats are essential for a flawless look. Your rooms may not need a band new coat of paint but take the time to remove smudge marks, nicks & scratches off the walls. If you do choose to totally re-paint…keep it neutral!!! No buyer wants to spend time and money on covering up your blood red accent wall. The idea is to have a potential buyer walk into your home and realize they don’t have to account for a future project.
Eliminate Clutter: This concept may be hard for some Sellers to swallow. But if you really want to sell you home you have to downsize your personal belongings. A potential buyer will walk into a property for sale and try to envision their life continuing there. It will help the envisioning process if they are not stuck on all the stuff you’ve accumulated throughout your time in the home. Remove items from tables and keep them simple with a lamp, tissue box and photo. Take some of your family photos off the wall…not all of them but most of them. Clear counters in the kitchen to show a buyer that your house offers plenty of counter space. This may not be easy but it is necessary. If the carpets have stains, remove them, replace them or offer the Buyer a credit. This is especially important if you have pets or if you smoke.
Curb Appeal: This is a very important detail. Since your home will probably be all over the internet once it is listed for sale, it is extremely important that the outside photo draws attention and enough attention to get your house shown. A freshly mowed lawn, flower beds & hanging plants are acceptable as long as they are being well kept. Power wash your home if need be. Remember that a potential buyer sees the outside of your home first so it must attract them in to view the main living space.
Now, you’ve landscaped, removed clutter and touched up paint in your home what comes next is Exposure. Have a party or get together to show off your newly listed home. Get feedback from your friends & family. You never know…one of them may be so impressed and be your future buyer.
Your agent will schedule open houses for public viewings. Please make arrangements to be elsewhere. Sometimes buyers don’t feel comfortable expressing their true opinions in front of the owner. Also, your agent may schedule broker open houses for additional exposure with local agents & brokers who may have an interested buyer.
Throughout the term of your listing, keep an open mind and always remain positive. Envision your home Sold the minute you list it on the market. Review comparable properties in your area with your agent. Always try to keep each room looking like it’s out of a magazine and you will separate yourself from the competition.
Searching for a realtor is important especially when you have decided to either sell or buy a home. However, you shouldn’t simply choose the first name you come across in the real estate business especially when you are after a good deal.
Research is necessary before choosing a realtor. Why? Because this person will be the one who can give you the best advice to help you reach a decision which can either gain or cost you money.
Realtors can be found almost everywhere. You might find dozens in and around your area or online as well. However, it would be best if you follow these tips in order for you to find the right realtor who can get the job done.
First, try asking your family and friends if they can recommend any particular realtor to you that they believe can be trusted and has a good background.
Second, look at listings in your area for realtors who represent certain types of properties that are more or less are in line with what you are buying or selling. Realtors do have specialties such as condo, residential, business and even helping out those who will be selling or buying a property for the first time.
Third, determine whether the realtor you will be making business with is from the buyer. Don’t believe realtors when they say that they represent both buyers and sellers since this isn’t possible. If you are after really good deals then see to it that the realtor you will be choosing is on your side.
Last, choose at least three realtors that you can meet to discuss your plans. It would be better if you ask questions on how to deal with buying or selling properties. This is important since it can help you gauge the skills and the personality of the realtor.
From these three, choose the person who has managed to answer all your queries to your satisfaction. This realtor will definitely give you the best service there is for your real estate needs.
As time passes, your financial strategy naturally changes. No longer are you trying to just focus on accumulating wealth — you’re trying to protect the things that you already have. This is a natural shift and shouldn’t be avoided. When you reach the age of being a senior citizen, wealth preservation is really the biggest and most important goal that most people have. You don’t want to wake up only to find that you really need to protect the assets that mean the most to you.
What asset could be larger and more important than a home? Retirement is about being able to sit back and enjoy the things you’ve worked for, but you might find that there’s just not enough income to do that. Yet a second mortgage would have you right back to the way things were before retirement — tight, difficult, and bothersome. You would have to think about digging into the equity in such a way that would put you back into debt. There has to be a better way than that!
This is where reverse mortgages step in. Instead of being vehicles that take away from your asset line, you will have a tool that adds to it. In a nutshell, a reverse mortgage loan gives you the power to draw an additional income through tapping the equity in your home. However, it works a lot different than a second mortgage. It’s a program designed for today’s senior citizens, which means that there is an age requirement.
The age requirement isn’t what makes the program special. No, it’s actually the fact that once the reverse mortgage is approved, you’ll have access to tax-free income. That’s the real power of a reverse mortgage, and it’s that power that’s driving more homeowners to convert part of he equity in their home to this new plan.
Does your home have to be paid off in order to get a reverse mortgage? Generally speaking, no, but in order to really get the full benefits of the reverse mortgage program, you will need to have the home paid off. Otherwise the funds from the reverse mortgage would simply go to paying off the existing mortgage on the home. If you’re close to paying the home completely off, then you would still have funds left over to do whatever it is that you want.
The fact that you don’t have to declare what you do with the funds from the reverse mortgage is pretty powerful. You can do anything with the money, which is leading a lot of homeowners to use this tool as a way to make their retirement a little more golden and a lot less stressful.
Before you get started with applying for a reverse mortgage, you really need to make sure that you use a reverse calculator to ensure that the numbers actually work in your favor — that’s the best way to go!
When you are looking for a new home, apartment or condo, you always lean towards the classified ads first it seems? Why is that? There are so many available real estate fliers and advertisements readily available that it seems those would be our first choice in buying or renting a new home. Classified ads though, do seem to offer some prospective home owners or renters a bit more control than they may get if they utilize only real estate agents to help them make their final decisions.
– Lower fees
– More personal choices
– The ability to determine your Realtor by property choice, not the other way around
There are many other factors along these same lines. When you use the classified advertisements to locate the property of choice, your interest in the property than becomes somewhat of a bargaining chip among other Realtors that desire your business, and their commission, as well as the banks who may compete for the account on which the loan will go to.
By using a Realtor you may be handing over ultimate control over these types of decisions to someone else. By using free online classified ads you are effectively taking control of your own personal property decisions when it comes to the bank loans, and who you choose to give your sales or commission business to if anyone.
In this economy, many have forgone the services of assistance in purchasing or even long term renting properties. Since purchasing your first piece of property is a big deal for any young family, you may want to check on the laws in your state to determine what is required when it comes to loan options and the years required to carry-out a full mortgage. Once you have the low-down on what is legally required, it is simply a matter of research and classified ad hunting before you find the property of your dreams, and don’t have to pay an arm and a leg to everyone else just to get your own home.