Tips for making your house a hot sales commodity

Want to be the seller who goes to market instead of the one who stays home? The difference might be a few of the things you do before you plant that "for sale" sign.
Your house has competition, and that means you have to do some work to get it ready to sell. So, while your home looks great compared to the neighbor's foreclosure, it might not quite compare to that house a block over where, rumor has it, the owner clips the lawn with an electric razor.
You don't have to spend a ton of time or money. A few simple tricks can get your home ready for the market.

Here are tips from top agents to give your home the edge:


Break out the cleaning supplies
"Give it a really good cleaning," said Jeff Wiren, immediate past president of the Portland Metropolitan Association of Realtors in Oregon.
The problem: "A lot of sellers might not have the same perception of 'deep cleaning' that a buyer would," he said. For that reason, "it might be worth spending a couple hundred dollars to have professionals come in and clean."
Two places where clean can be critical for buyers are kitchens and bathrooms, says Pat Vredevoogd Combs, past president of the National Association of Realtors. Having those rooms clean and sparkling can make a huge difference in the perception of "whether a house is kept up or not," she said.
Windows and baseboards are crucial, said Mark Ramsey, broker with The Ramsey Group at Keller Williams Realty in Charlotte, N.C. If you're not replacing carpets, have those cleaned, too, Wiren said. The potential outlay for a cleaning service and carpet cleaning is likely in the neighborhood of $300 to $500 total, he estimated. "It has a much greater impact than most sellers think."

Ditch junk and clutter
"This is now a showcase," says Patricia Szot, immediate past president of the Dallas-based MetroTex Association of Realtors. "You are no longer living in it; you are showing it."

Laundry room: Make it neat and orderly, Szot said. Your goal is to make it look like the room is plenty big enough for the job.

Pantry: It's for food only, Ramsey said. Using the pantry for general storage screams, "Not enough cupboard space."

Garage: If it's a two-car garage, make room for two cars, Szot said. For a lot of men, if the garage "looks small because of the clutter, there's an issue."
"And while you're decluttering, you're depersonalizing," Wiren said. "You really need the buyer to be able to picture your home as their home." A picture of your kids on the nightstand is "not a big deal," he said. But you don't want the family portrait gallery lining the hallway.
With paint, stick to neutrals, several agents said.
"I have had people who painted some of their rooms and picked the colors themselves" in shades of pink and purple, said Combs, who is vice president of Coldwell Banker AJS Schmidt Realty in Grand Rapids, Mich. "And it was more of a negative than a positive when they put their homes on the market."
Their mistake wasn't DIY painting but color selection, she said. Opt for neutrals, which have broader appeal.
"Then consider the flooring. If the carpeting is old and stained, put in new carpeting," said Szot, operating principal with Keller Williams Realty, Lake Cities at Firewheel.
Keep any planned changes to the house reasonable and in character with the home and the neighborhood.
"Don't lie to yourself," said Wiren, a principal broker with Re/Max Equity Group. If the house has areas that show wear, get that work done before offering the home.
"The price of your house is going to determine what things you should do," Combs said. One client spent $10,000 putting in hickory cabinets and granite countertops in the kitchen of a home that listed in the $100,000 range, she recalled.
"In that price range, it wasn't necessary," Combs said. "And we couldn't get any more money for the house."
View the house from the buyer's perspective. "Pull up and stop right in front of it, just like a buyer's going to do," Ramsey said. Then "let yourself in the front door, like a buyer's going to do."
How does your home compare to others on the street? Is it inviting? Does it make you want to see more?
"Walk through the home with the eyes of a buyer," Szot said. If you're buying another house, think about what you want to see in your new home, she said.
Pay special attention to the entryway, Ramsey said. "You want it to be open as much as possible," he said. Look at the furnishings you have in the area, and err on the side of less-is-more. "When in doubt, get it out," Ramsey said.

Newsday.com

LI mortgage rates fall in national trend

WASHINGTON -- Fixed U.S. mortgage rates fell again to record lows, providing prospective buyers with even more incentive to brave a modestly recovering housing market.
On Long Island rates followed the national trend, according to figures supplied by HSH Associates of HSH.com. The 30-year fixed was 3.77 percent, down from 3.83 percent. The 15-year fixed is 3.35 percent, down from 3.41 percent. The one-year adjustable was 2.75 percent, down from 3.27 percent.
Mortgage buyer Freddie Mac says the nationwide average on the 30-year loan dropped to 3.62 percent. That's down from 3.66 percent last week and the lowest since long-term mortgages began in the 1950s.
The average rate on the 15-year mortgage, a popular refinancing option, slipped to 2.89 percent, below last week's previous record of 2.94 percent.
The average rate on the 30-year loan has fallen to or matched record low levels in 10 of the past 11 weeks. And it's been below 4 percent since December.
Low-interest mortgages have provided some lift to the long-suffering housing market, which has slowly improved this year.

Newday.com

Kitchens Sell a House

It's a tool used by house flippers all across the nation. Stagers know its power. Real estate agents push its importance. What is this not-so-well-kept secret of real estate? A kitchen can sell a house.

A kitchen is the heart of a home. This is true all across the globe. The old saying that the "stomach is the way to the heart" carries a lot of truth. Kitchens are where we spend much of our time and most of that is with our families. It's the room where we nourish our bodies and our spirits.

Kitchens are integral to entertaining and in today's age of open floor plans, they're a focal piece of many family rooms. It's because of this that kitchens play such an important role in the buying and selling process.

This one room is the showpiece of the house. You'll see it every day and your guests will see it during most visits. This means buyers want homes with up-to-date kitchens.

Kitchens, however, can be one of the most expensive rooms to renovate. These projects can also be the most labor and time intensive of all home renovations. It's not just a new layer of paint.

Instead you find a complicated array of flooring, tiling, cabinets, and counters. This means buyers may want a home with an up-to-date kitchen but they aren't willing to tackle this problem themselves. Most buyers want a kitchen that is ready to use the day they move in.

What do buyers look for in up-to-date kitchens? A lot of this depends on what price range your home is in.

The main thing to remember as a seller is to not price yourself out of your market. If homes in your neighborhood are selling for $100,000 with tidy, but not luxury kitchens, then this is no time to upgrade to granite, travertine, and marble at the price tag of $40,000+. You simply won't find a buyer.

Scope out the competition. Use open houses in your area or MLS listings to find out what your competitions' kitchens look like.

Do area homes have new solid wood cabinets and granite counters in today's designer colors? You'll be wise to consider making the same move. Are they including new stainless steel appliances and add-ons like dishwashers, wine-coolers, and trash compactors?

Are you in a higher-end neighborhood? It's time to think high-end. Your older home may have a highly functional kitchen, but a buyer will take one look at your formica counters and white appliances and become lost in the stress of how much money and time it would take to remodel. If you don't want to put in the time yourself to make upgrades then you'll have to make concessions in the price.

Don't become overwhelmed, though. Sometimes a kitchen update can mean doing just a few minor changes. Change the paint color to a warm, neutral tone. Get rid of any clutter. Update your appliances, paint your cabinets, change the pulls, or get a high-end looking counter for a fraction of the cost (faux-granite or lower end granite). You might even save a bundle by doing much of the work yourself.

The bottom line is a kitchen can sell a home. Do a little research and find out what your kitchen needs to make it competitive with area listings.

By Carla Hill RealtyTimes.com

Real Estate Outlook: Home Inspections

What does your home inspection cover? And who is liable if a problem develops down the road? We'll answer these questions in today's outlook.

You need an inspection on any property you are buying, regardless if it's old or new construction. An inspection is like a check-up for your house.

What repairs will need to addressed now and what might need to be addressed later down the road? This is what you have answered during an inspection.

Having an inspection done prior to signing a contract allows you to negotiate your findings into the deal. Does the roof need replaced? The seller may give an allowance to pay for the repairs. If you don't ask, you'll never know!

Perhaps you've fallen in love with a fixer-upper and are dreaming of doing the repairs yourself. If the inspection discovers hidden damage and costs, you'll be given the option to keep looking for a more suitable house.

Keep in mind, however, that simply because a house needs repairs doesn't mean you shouldn't purchase it.

Nearly every house will have a list of repairs that need to be done to get it "shipshape." It is your decision to choose how much you are willing to spend and how much work you are willing to do.

A home inspection varies depending on what type of property you are interested in.

According to the American Society of Home Inspectors (ASHI), "the standard home inspector's report will cover the condition of the home's heating system; central air conditioning system (temperature permitting); interior plumbing and electrical systems; the roof, attic and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement and structural components."

There are limits, however, to what a home inspection will cover. They aren't required to identify conditions that are concealed or are considered latent defects.

That means if personal property, plants, snow, or debris is covering an issue, the home inspector isn't require to move those items to inspect it and isn't liable if he misses it. They aren't require to make determinations on systems that aren't readily accessible.

And they aren't required to note the presence of potentially hazardous plants and animals. That includes "wood destroying organisms" or even molds.

This means you should find a home inspector that you trust. The ASHI recommends you choose from their list of licensed professionals. "ASHI members know houses, ensuring that you can find a home inspector. They are trained to objectively communicate to you, the home inspection buyer, what the house has to say. ASHI members have demonstrated technical proficiency and report-writing skills, and they have committed to continuing education in order to achieve and maintain their member status."

Having a trusted inspector means that most every problem that can be identified, will be. And inspection is about peace of mind, and a good inspector gives you that.

by Carla Hill- RealtyTimes.com

HAPPY NEW YEAR!

Wishing You Your Family a

Happy, Healthy Prosperous 2012!



3 Tips for Staging Your Home to Sell

Today's buyers are looking for turnkey homes. That is, they want to move right in without having to do a lot of work. Buyers with busy lifestyles pay a premium for listings that are in prime condition. Staging can make the difference between a listing selling or not, the time it takes to sell, and the ultimate sale price.

Sellers who are financially strapped often have a hard time accepting that they'll need to invest in preparing a house for sale even though they may sell for less than they paid. Fix-up costs can mount up; your agent can help you prioritize so that you don't waste money. It's important to keep your goal in mind, which is to sell your house in a difficult market.

Recently, a home in Piedmont, Calif., an affluent city neighboring Oakland, came on the market in "as is" condition. It had been lived in for decades without much upgrading. Although located in a desirable area, the listing was vacant, dark and showed poorly. The sellers refused to do any work to improve its appeal.

After months on the market with no significant interest, the sellers pulled the house off the market and made improvements. The wall-to-wall carpet was pulled up to reveal hardwood floors that were then refinished. Painters lightened the interior and a professional stager was hired to bring in furniture, artwork, house plants and accessories. The listing was put back on the market with a fresh look and sold right away.

HOUSE HUNTING TIP: Although listings staged by a good decorator show well and often sell quickly, you don't need to spend a lot to put your home into shape for marketing. Most homeowners have too many personal possessions in their home from a sale standpoint. Decluttering is something most sellers need to do.

This can generate uncomfortable emotional responses. One seller, who was cleaning out the family home of 50 years, found a packet of love letters his father sent to his mother. Of course, he had to read all of them, which delayed his fix-up schedule.

Consider hiring someone to help you sort, pack, donate and recycle items that you no longer want. You may be able to take a tax deduction for things you donate. Make sure to get a receipt. Your real estate agent should be able to recommend someone who can help you clear your house of clutter if you are overwhelmed by the project.

Your agent, or stager, may ask you to put away collections of art, personal photos, etc. This can be difficult for most sellers because, for them, it's part of the emotional appeal of their home. Your house won't look like your home after you've removed personal possessions and moved what's left around to display the house to its best advantage.

That's the point of the preparation process. You don't want prospective buyers focusing in on your personal property; you want them to focus on the house. Keep in mind that how you live in your home and how it should look when it goes on the market are not the same.

Some sellers complain that their house looks too stark without all their possessions. Even so, it helps you to detach yourself emotionally from the property. Also, less personal property usually gives homes a more spacious feel. When buyers are looking for the most for their money, bigger is usually better.

To close the deal, a listing should be spotless and inviting. Bring in new house plants to put in strategic locations, like orchids in the bathrooms. In dark spots that need a dash of warmth and color, use bromeliads.

THE CLOSING: If you can't pull this together yourself, or with the help or your agent, hire a good stager for a consultation or a proposal for full or partial staging.

-Inman News

Before You List, Must-do Showing Tips

Staging pro Sharon Brown with Homescapes by Design in Roseville, Minn., offers her clients a checklist before they list their home for sale. The point of the checklist is to make sure the home is show-ready before the for-sale sign goes up and the first potential buyer walks through the door, and even before photos are snapped for the MLS.

The following are the changes Brown most recommends to her clients in getting a home ready to list:

1. De-cluttering and removal of all personal pictures and items. Have the buyer to see the space as something they could own. Too many personal items crowded in a space makes that a challenge for buyers and clutter can detract from the features of a home.

2. New neutral, good quality rugs.

3. Re-painting several rooms into neutral colors, if needed.

4. Replacing and updating lighting fixtures.

5. Make any small repairs (or big ones if needed).

6. Purchase of matching appliances in the kitchen for a cohesive, finished look.

7. Update major furniture (furniture can be rented for the duration of the sale).

8. Move furniture to show the rooms to their best advantage, including moving very large furniture out of rooms to give them a more spacious feel

9. Incorporate decorative details that help give the home an inviting, finished feel. See the before and after photos below.

Before: Over-cluttered family room, with outdated furniture

Photo Credit: Florida High Performance Green House, www.flgreenhouse.com

After: Staged, de-cluttered room with more updated furniture.

Before: Overloaded kitchen counters and dated decor

Photo credit: Sharon Brown, Homescapes by Design

After: Completely clean counters (counterspace sells kitchens!).







On November 7, 2011, in Staging Tips, by Melissa Tracey ..