Home Sales Rise 3% in January

Sales of existing homes rose in January by the largest amount in two years, raising hopes that the worst of the severe slump in housing may be coming to an end. Median home prices, however, fell for a sixth straight month.

The National Association of Realtors reported this week that sales of previously owned homes rose by three percent last month, the biggest one-month increase since a 3.3 percent increase in January 2005. Sales of existing U.S. homes rose three percent to a seasonally adjusted annual rate of 6.46 million in January, the highest in seven months.

The median price of an existing home sold in January dropped to $210,600, a decline of 3.1 percent from a year ago. It marked the sixth straight month that the median price has been down compared with a year ago. The January decline was the third-biggest drop in history.
Single-family home sales rose 3.5 percent to a seasonally adjusted annual rate of 5.69 million in January from an upwardly revised 5.50 million in December, but were 4.2 percent below the 5.94 million-unit level in January 2006. The median existing single-family home price was $209,200 in January, down 3.5 percent from a year earlier.

Existing condominium and cooperative housing sales slipped 0.1 percent to a seasonally adjusted annual rate of 767,000 units in January from a downwardly revised pace of 768,000 in December. Last month's sales activity was 5.7 percent below the 813,000-unit pace in January 2006. The median existing condo price was $222,200 in January, up 0.5 percent from a year ago.

Total housing inventory levels rose 2.9 percent at the end of January to 3.55 million existing homes available for sale, which represents a 6.6-month supply at the current sales pace - unchanged from the revised December level. Supplies peaked at 7.4 months in October.
Regionally, sales rose 5.6 percent in the West, 4.8 percent in the Midwest, 2 percent in the South and were unchanged in the Northeast.

10 Ways to Improve your Credit Score

When you apply for credit, your credit scores help lenders determine whether or not you are willing and able to repay the loan. With a higher score, you qualify for better interest rates, higher credit limits, and more types of credit than you would with a lower score.

Your score reflects the way you use credit, and there are no tricks or quick fixes to getting a good credit score. However, you can raise your score over time by demonstrating that you consistently manage your credit responsibly. Here are 10 things you can do to improve your credit score.

1. Pay your bills on time. If you have a history of paying your bills on time, you'll have an easier time getting a mortgage loan, car loans, and credit cards. Even if you've had serious delinquencies in the past, a recent history (24 months) of on-time payments carries weight in credit decisions.

2. Keep credit card balances low. High outstanding debt can pull your score down.

3. Check your credit report for accuracy. Inaccurate information on your credit report can be cleared up easily. Always contact the original creditor and the credit bureaus whenever you clear up an error, so that the inaccurate information won't reappear later.

4. Pay down debt. Consolidating your credit card debt or spreading it over multiple cards will not improve your score in the long run. The most effective way to improve your credit is by slowly paying down the amount you owe.

5. Use credit cards-but manage them responsibly. In general, having credit cards and installment loans which you pay on time will raise your score. Someone who has no credit cards tends to have a lower score than someone who has managed credit cards responsibly.

6. Don't open multiple accounts too quickly,especially if you have a short credit history. This can look risky because you are taking on a lot of possible debt. New accounts will also lower the average age of your existing accounts, something that your credit score also considers.

7. Don't close an account to remove it from your record. A closed account will still show up on your credit report. In fact, closing accounts can sometimes hurt your score unless you also pay down your debt at the same time.

8. Shop for a loan within a focused period of time. FICO scores distinguish between a search for a single loan and a search for many new credit lines, based in part on the length of time over which recent requests for credit occur.

9. Don't open new credit card accounts you don't need. This approach could backfire and actually lower your score.

10. Contact your creditors or see a legitimate credit counselor if you're having financial difficulties. This won't improve your score immediately, but the sooner you begin managing your credit well and making timely payments, the sooner your score will get better.

While these ideas won't create a dramatic improvement in your credit score overnight, it will over time. Remember that it takes time to develop a strong credit profile, but once you've done it, you'll find it easier to apply for credit.

Win-Win Negotiations

For most people, the equity in their home represents their largest financial asset. Therefore, buying or selling a home should be treated as a business transaction.

The best transactions are those with a win-win outcome, in which both parties feel they have been treated fairly. One of the best reasons to hire a real estate agent is that we represent you as we negotiate on your behalf. Agents act as buffers between the parties in the transaction, effectively minimizing the emotional component of the process.

When an offer is presented, the seller can accept, decline, or counter it. By pricing a home fairly, sellers usually receive offers that are close to or may even exceed fair market value. If you receive an offer that seems unusually low, look closely to see if the buyer has offered other concessions such as a quick closing.

If the offer is unacceptably low, then present a counteroffer instead of declining it outright. That keeps the door open to additional negotiations and extends the possibility of arriving at a win-win outcome.

On a Mission

If you want more focus and purpose in your life, try writing a personal mission statement. Most companies and organizations have these declarations as the foundation for their business. Do the same for your personal life by outlining in one or two sentences what impact you want to make in the world.

Safe Keeping

It is wise to keep important documents in a safe deposit or fire proof box. Some items to include: birth, marriage and death certificates, mortgage and property deeds, insurance policies, divorce and custody documents, citizenship papers, military records and heirloom photographs.

What's the Difference?

Not all prospects are qualified buyers. Simply put, some are more capable of buying your home than others. But how do you know the difference when a prospective buyer comes calling? Most serious buyers enter the house hunting process with a mortgage pre-qualification or a pre-approval. Each indicates a different level of buying power.

1. Pre-Qualified – This means a REALTOR®, lending agent, financial advisor or the buyer has done a general review of the finances without an in-depth examination of credit. A simple analysis of debt to income indicates how much money the buyer has to spend on a mortgage payment after all other monthly expenses are met. However, someone who is pre-qualified does not have a promise for funds from a bank or lender.

2. Pre-Approval – This indicates a more rigorous financial review. The bank or lender will carefully examine credit, income and debt. The buyer will need to provide documentation for each, making the pre-approval more telling than the pre-qualification. The lender will recommend different loan programs, tell the applicant what dollar amount they would be eligible for, and at what terms and rates it would be given. A pre-approval letter outlines all this information. If a buyer is serious about purchasing your home, this letter tells you they have the potential backing to make the purchase happen.

Know the Lingo

For most people, getting a mortgage is an integral part of purchasing a home. But if you are new to the process, you are likely to encounter industry-specific words you may not know.

Here are the basics:

• Deposit - The amount you agree to give the seller at the time the sales contract is signed.
• Principal – The amount of money a borrower owes on a mortgage. In other words, how much you will owe the bank or lender once the loan is assumed.
• Down Payment - The difference between the purchase price, the initial deposit and the mortgage principal balance. It's the amount of cash you bring to the closing table that is not financed.
• Private Mortgage Insurance (PMI) – Many lenders will make provisions for those who cannot afford the standard down payment of 20 percent of the purchase price. Instead, they will drop the required down payment, but charge a fee called PMI. This may require an initial up-front payment followed by monthly fees.
•Principal, Interest, Taxes and Insurance (PITI) – This acronym stands for the four parts of the monthly mortgage payment.
• Point – Some buyers are able to reduce their principal by buying mortgage points. This is prepaid interest given to the lender at the closing. Each point is equal to 1 percent of the loan amount.

Visit Century21.com for more mortgage terms and definitions. The online glossary contains more than 900 entries.

The Perfect Fit

More and more people are reaching retirement with their health, financial stability and a new perspective on aging. For many in this group, a home or condominium in an active adult community is the ideal setting.

The benefits of these communities include property management, social activities, being surrounded by peers and more. When looking to buy in a “55 and over” or similar style development the key to making a good purchase is research and comparison shopping. Each development is different and you want to choose the one that is right for you.

Here are several things to consider.

• In addition to asking price, inquire about related fees. There will likely be an association fee for services such as maintenance and snow removal. Other potential expenses include pool costs, clubhouse fees, and the like.
• Ask about penalties. Some associations charge if you sell the unit or home before a certain date. That timeline and related consequences are usually outlined in the contract.
• Investigate social outlets in the community and the surrounding area. Read the association newsletter and get a feel for what kind of clubs and gatherings are offered. Inquire about other opportunities, like area golf courses, lakes and beaches. Look for a community that has amenities that match your interests.
• Ask what type of medical provisions are available. Some developments have emergency call systems. See if rates increase as the need for assistance rises.
• Besides a vibrant development, you want to buy in a town or city that is strong and appealing. What does the area downtown have to offer? What is the local tax rate? Are there projects on the horizon that could boost taxes in the future?
• Finally, consider your proximity to loved ones. It can be a key factor in your decision.

A New Look

When the day of your Open House arrives you want your home to be warm and welcoming. You want prospective buyers to imagine what it would be like to live there and like what they see so much that they want to bid on the house. Home staging is the first step down the path to a successful home sale.

One of the best ways to pique buyer interest is to breathe new life into the home. This can be done with four simple steps. Applied to each room, the impact can be significant.

1. Start with a clean slate. You want each room to be clean and free of clutter. Identify unwanted items and sell or donate them. Things you want, but don’t necessarily need on a daily basis should be packed up and stored elsewhere. Next, give the room a thorough cleaning. Shampoo carpets. Clean draperies. Take the extra steps and make it shine. A clean home is always more appealing.

2. Once the room is clean, look at it with a fresh eye. Is there a piece of furniture that detracts from the space? Does the couch need a slipcover? A few simple changes can update the room.

3. Next, think about color. Nothing brings a room to life like a warm, inviting tone on the walls. A fresh coat of paint in a neutral tone can make the space more appealing. In addition, if you pick complimentary tones for each room it gives the home both character and a sense of continuity or flow.

4. Consider updating your accessories and wall art. Once you have decluttered, cleaned, made key changes and painted, you want to add in a few signature pieces to boost interest. For instance, an heirloom painting from your great aunt may have a lot of appeal to you, but it may not work in the room anymore. Replace it with a piece that is better suited for the space.

Home Maintenance Tips

To prepare your home for sale, you may need to perform some maintenance to get it into top shape. Here is a list of things you can do before your home goes on the market that will really make a difference:

* Replace cracked windows and torn screens.
* Fix or replace broken stairs or handrails.
* Fix plumbing fixtures, leaking faucets, and so on.
* Replace exterior lock sets and garage door openers if damaged.
* Repair worn or damaged flooring.
* Replace broken or leaking gutters and downspouts.
* Remove any soil or landscape mulch from contact with wood.
* Clean, repair, or replace the roof.
* Repair or replace worn boards on decks or porches.
* Have your heater and air conditioning units serviced and filters replaced.

Some sellers may hesitate to tackle these matters because of the cost, but money spent on repairs can make a difference in the final sale price. Moreover, some of these deferred maintenance items are safety hazards and others may be required by the buyer or lender before closing.

Buyers tend to overestimate the cost of performing repairs and thus reduce their offer by an amount higher than necessary to compensate. If the lender requires the repairs to be performed before closing, the seller can, in effect, end up paying for repairs twice: first in a lower sale price and second in the out-of-pocket cost of the repairs themselves.

A better strategy is to perform the repairs before putting your house on the market. By comparing estimates from several contractors, you can be sure to get a competitive price. And you'll eliminate potential reasons a prospective buyer might use to justify a lower price offer.
If you're thinking about selling your home, please call or email to discuss repairs your house might need. I may be able to save you time and money.

Considering Making a Move?

When you're thinking about making a move, the first steps in the home buying process are:

* Deciding when you want to make your move
* Considering how much money you would like to spend
* Thinking about what type of home you would like
* Deciding where you would like to live

The next step is usually finding out how much you can qualify for and deciding the type of financing that will work best for you.

If you're in the "thinking about it" stage, you will want to speak with a lender about receiving pre-qualification. If you choose to become pre-qualified, the lender will determine how much you can borrow based on financial information you provide to the lender. Pre-qualification is useful for making preliminary decisions about how much home you can afford, but does not assess your creditworthiness. You will need to fill out a loan application and go through the lender's loan approval process at a later date.

When you decide to buy a home, you will want to become pre-approved for a loan prior to beginning your home search. When you are pre-approved, the lender conducts a thorough credit check and verifies your employment and deposit. The lender's pre-approval is a commitment to loan up to a certain pre-determined amount. The only thing missing is the lender's appraisal of the home to confirm its value.

Why is pre-approval important at the beginning of the home buying process?

Pre-approval strengthens your offer and negotiating position. A home seller will often choose an offer that is pre-approved for a mortgage over someone whose financial picture is still in question.

Please don't hesitate to call or email me for additional information about the buying process. My goal is to provide you with practical information as you consider your next move. And, when you're ready to make your move, I'll help you find your dream home and handle all the details of the transaction, so all you need to do is pack!

Garage Sales

Is there too much clutter in your home? It can be a shock to see all the stuff most of us have accumulated through the years.

One of the best ways to clear out clutter is to have a garage sale. Here are some tips to making your garage sale effective:

* Advertise your sale in a local newspaper. Make sure to include your address and what days and times the sale will take place.
* Place directional signs at nearby key intersections.
* Place smaller items on tables.
* Be prepared in case of inclement weather.
* Put price tags on everything, but be flexible and ready to negotiate.
* Be prepared for early arrivals. Decide whether you want to allow early birds or if you will begin only at the specified time.
* Start with an adequate amount of change and small bills on hand. Decide whether you will accept checks.
* Have plenty of help--it's more fun that way!

Try to look at your home through a prospective buyer's eyes. Lack of clutter will help your home show better, and it will ease your move to a new place. And even if you are staying put, getting rid of clutter will allow you to enjoy your home more comfortably.

Get Your Free Homes Sales Alerts

Allow me to keep you informed! I can keep you informed of the homes selling in your area -- all via email.

Send me your email address and property address and I can add you to my home sales alert list. Every 60 days you will be updated with what is selling in your area!

Also, contact me anytime for detailed information on any area in the country including:

*Demographics
*School Information
*Housing trends and values
*Crime and climate reports

Or simply click here!

Packing Tips

Decide whether you are going to pack yourself or hire movers to do the job. Some buyers opt to pack themselves to save money and then have movers load the truck. Whether you hire movers to pack or do it yourself, below are some do’s and don'ts to make your move more efficient:

* Buy quality supplies beginning with sturdy moving boxes in a variety of sizes. Have plenty of packing paper, bubble wrap, and packing tape on hand. Identify boxes with labels, stickers, or bold markers. As you pack, list contents of boxes in a notebook.
* Do not pack items that are flammable, corrosive, or explosive, such as gasoline, fireworks, aerosols, paints, pesticides, liquid bleach, paint thinner, pool chemicals, propane tanks, or Sterno.
* Hand-carry valuables or items of personal importance or sentimental value. This includes important documents, jewelry, collections, and family photographs.
* Pack in order. Top national movers suggest you start with out-of-season items. Next pack those items you use infrequently. Leave your daily needs unpacked until the last minute.

I hope you'll find these suggestions useful. My goal is to handle all the details of the transaction, so all you have to do is pack!

Home Equity

The largest single asset most people have continues to be a home of their own.

A recent survey found that the equity we have in our homes outweighs the value of our investment portfolios, on average, by a ratio of 3 to 1. With stock prices still volatile, many families remain focused on preserving and protecting the equity in their homes.

Therefore, home improvement and home maintenance have become extremely important to home sellers. Deferred maintenance definitely lowers a home’s value.

The three most common areas of deferred maintenance that affect a home’s selling price are:

* Water damage
* Pests
* Roofs needing repair or replacement

Refraining from deferring maintainance on these items will go a long way to helping you maintain your home's best value.

Minimize Stress

Did you know that for most people, moving ranks near the top of the list of stressful events? Here are some things you can do to minimize stress when you are ready to make a move:

* Choose a real estate agent who communicates clearly and frequently, keeping you up to speed on every step of the process.
* Consider how long it will take from the time you make an offer on a property until the transaction closes. Once an offer is received and accepted, it may take from 30 to 45 days to obtain financing. Being pre-approved for a loan can shorten that time frame considerably.
* Decide whether you want to move yourself or have professional movers handle the job. If you hire a moving company, be sure to book well in advance.
* Think about cleaning services. After everything is packed and moved is a great time to have someone come in and clean.
* Arrange at least two weeks in advance to have utilities and phone service disconnected at your old house and reconnected in your new home on the move-in date.

First Impressions

When you are ready to market your home, one thing to keep in mind is that you have only one chance to make a first impression--beginning the moment potential buyers drive up.

You can help create that good first impression by presenting potential buyers with a well-cared-for yard including a mowed lawn. Your front door and porch should be clean and neat, preferably freshly painted. Have snow removed in the wintertime and leaves raked in the fall.

These first important encounters create a positive impression that carries through to the rest of your home. An inviting atmosphere implies that your house has been well maintained and taken care of. Homes that convey pride of ownership usually receive the best offers.

If your home appears disheveled or uncared for, prospective buyers may quickly conclude it's been neglected and is in need of repairs. Such a negative impression can result in a less-than-generous offer--or possibly no offer at all.

Try viewing your home through a potential buyer's eyes. Would YOU buy your home?

What A Buyer Needs at the Closing Table

Once the contract has been negotiated and the closing papers are about to be signed, you will need additional items for the transaction to close. When you go in to sign the papers, you will need:

* Photo ID, either a driver's license or passport.
* A cashier's check for the down payment and closing costs. Personal checks are not acceptable because they take time to clear.
* A hazard or fire insurance policy ready to put in place upon closing.

Needless delays in closing have been caused by lack of insurance or waiting for a personal check to clear. Many buyers think that they will receive the keys to their new home when they go in to sign and pay their money. But it may take a few days past signing for the paperwork to be processed. Plan your moving date accordingly. Check the possession date on your contract.

Please don't hesitate to call or email me if you have any questions or would like me to review the details with you. Together we can work out a timeline to accomplish your real estate goals. I welcome the opportunity to help you when you are ready to buy a home.

Remodeling?

Are you thinking of remodeling your home? Consider the return on your investment before remodeling. Not all remodeling projects yield the same return when it comes to increasing your home’s value.

Updating your kitchen and baths is your best remodeling investment, returning a nearly dollar-for-dollar increase in home resale value. An updated kitchen and bathrooms make your home that much more attractive to potential buyers when you do decide to sell.

By contrast, converting a basement into a family room or adding outdoor recreation facilities, such as a swimming pool or sport court, yield the lowest return on your investment.
Sometimes the cumulative effect of several smaller projects can yield a higher resale value than one or two larger ones. Smaller projects tend to be more cosmetic--new paint, doors, or windows. Larger projects that upgrade or add living space may cost more, but almost always add less resale value for the dollars spent.

Whatever you do, be careful of over-improving for your neighborhood. Remodeling that significantly improves your property over neighboring homes won't return as much when it comes time to sell.

The Closing Process

Once you have found the home of your choice, there are several additional steps to close the sale after the purchase and sale agreements have been signed.

Step 1 - Removing contingencies: The most common contingencies that buyers include in an offer are financing, home inspection, and the sale of their current home. These conditions must be removed or waived before the sale can proceed.
Step 2 - Appraising the property: The lender requires a formal appraisal to confirm the value of the home. This is used as a basis to secure the loan.
Step 3 - Preparing closing documents: Most often attorneys prepare documents that confirm the transaction, prorate funds, and so on.
Step 4 - Signing closing documents: Even after both parties have signed closing documents and deposited funds, the sale may take a few extra days to close.
Step 5 - Recording the deed and disbursing funds.
Step 6 - Welcoming the moving van.
Step 7 - Receiving the keys to your new home!

There are many opportunities for surprises or delays in a transaction. Part of my expertise is troubleshooting problems that arise during the closing. Please email or call me if you have any questions or would like more information.

Moving Day

Most buyers and sellers consider moving day a real hassle. Here are some things you can do to make it more manageable:

* Cut back on your possessions as you pack. Make separate areas for items to be discarded, sold, or donated to charity.
* Label all boxes and color-code them by room, whether you pack yourself or have help. Otherwise, you'll never remember what's in each box.
* Have the outside door locks on your new home changed and the garage door opener reprogrammed.
* Get referrals from your doctors, dentists, and veterinarians for new providers near your new home. Take your files with you instead of waiting for them to be sent.
* Pack a “first night” box that contains everything you'll need for the first night in your new home. Include bedding, cookware, utensils, toiletries, and anything else you can't do without before you are unpacked.

Once an Offer Is Accepted

When buyers make an offer on a new home and it is accepted, one of two things usually happens:

1) Buyer's Remorse: You've made an offer. It was accepted. You've almost bought your dream home. Then, later that night, or the next day, you start worrying. Did I make a good decision? Can I afford it? What if this happens? What if that happens? Anxiety and stress set in.
This is a normal reaction. It is called buyer's remorse.

The best way to handle buyer's remorse is to take out a sheet of paper and draw a line down the center. On one side, list all the positive things about buying this home. On the other side, list all of the negatives. You will come to realize that buying this home is a good decision. I will be with you step by step to help answer any questions and concerns.

2) Shopping Spree: Buyers are sometimes so excited about their new home that they go out and order new furniture, appliances, window treatments, and sometimes even a new car! This can create pandemonium with your credit and debt ratios that lenders look at to approve your loan. Sometimes excessive purchases can cause the lender to reduce the amount of your loan, placing your home purchase at risk.

Your best strategy is to postpone additional shopping until after closing. Once you have moved in and are settled, you can start thinking about all the amenities and extras to make the new house your home.

Four Improvement Tips to Impress Buyers

Sellers who refuse to make minor repairs are likely to pay for their refusal. Here are 4 improvements a seller can make that will greatly increase his chance of sale.

-Start with the kitchen; it’s the most important room in the house for most buyers. Refacing the cabinets or sanding them and painting them white is often a worthwhile undertaking. If the flooring is in poor condition, replace that too.
-Update the bath. While paint and flooring help here too, sellers may find spending $200 to replace the mirror and vanity set will net them the greatest payoff.
-Clean the laundry room. Hire a carpenter to install built-in shelving, repaint and replace worn flooring. Also, upgrade the light fixtures and make sure all the light bulbs work.
-Scrub the place clean. A squeaky clean house makes an impression on buyers. If a buyer thinks your home looks clean, they won't think there are any hidden problems. If it's dirty, they'll think it has all sorts of hidden problems.

Good Photos Help a Home Sell Quickly

It has been said that a picture is worth 1,000 words, that is especially true when it comes to selling a home. As more buyers shop for properties online, high-quality photos are more important than ever. Good photos are particularly important for virtual tours, which provide a 360-degree view of a room. It is helpful to have these photos done professionally, this will ensure that the photos were taken in the right light and capture the area properly. If you do decide to take photos yourself, here are some tips for making the home look its best on camera.

-Insist on good photography equipment so the photos are sharp and colors aren’t washed out.
-Get rid of clutter in the home so the focus can be on the property, not the furniture and personal items.
-Don’t shoot at night. Natural daylight will make the home look brighter.
-Use flowers; they’ll add color to the photos.
-Wide-angle lens are good, unless they distort the view. Making an average living room look like a ballroom will only disappoint a potential buyer when she sees the real thing.

Negotiating and Submitting an Offer

The smoothest transactions are those with a win-win outcome, in which both parties feel they have been treated fairly. One of the best reasons to hire a real estate agent is that an agent represents you and negotiates on your behalf. Agents act as buffers between each party, minimizing the emotional elements of the process.

When you make an offer, the seller can accept, decline, or counter it. The best tips to ensure that your offer is accepted include:

* Be pre-approved by a lender. This strengthens your position.
* Provide a substantial deposit. This shows you are serious about the property.
* Limit your contingencies to those important to you, such as financing, inspections, and the sale of your current home if necessary.
* Offer a fair price based on the marketplace. If your offer is too low, the seller may not even consider countering your offer.

My goal is to get you the best home under the best conditions. I will negotiate on your behalf, working hard to help you make a smart buy.

The best negotiations are those in which the buyer and seller feel the transaction was fair. The seller gets to move on and you get a new home!

I'll be happy to answer any additional questions you might have about the negotiation process. When you are ready to purchase a new home, I welcome the opportunity to help you.

Internet Marketing

Have you wondered what it would take to sell your home for the highest price, in the shortest amount of time, and with a minimum of inconvenience?

Besides accurate pricing and an effective marketing campaign, posting your home on the Internet can make a huge difference. The Internet has largely replaced newspapers as the advertising medium of choice for real estate listings.

Why? Posting listings online costs almost nothing, information can be changed or updated almost instantly, listings can be screened by price or area, and the information is available to prospective buyers 24 hours a day, seven days a week.

According to a recent survey, almost 80% of all buyers use the Internet to search for a new home. They like the ability to see pictures and obtain additional information. Plus, buyers who search on the Web spend an average of $22,600 more for their new home than other buyers. To accomplish my goal of selling your home for the best price in the least amount of time, let’s use one of the most effective marketing techniques--the Internet.

Buying a Home With An Eye for Resale

As you start looking for a new home, you probably aren't even considering your NEXT move. You probably just want to get this one taken care of! But it is always prudent to shop for a new home with an eye on potential resale value down the road. No one can predict what the future will bring, but here are some simple things you can look for:

* Views: Homes with a view often sell for a premium. If a view is important to you, buy it for your own pleasure. You may place a certain dollar value on the view; but when it comes time for you to sell, you may find that not all buyers are like-minded.
* Lot Size and Shape: Level or rectangular lots are the most desirable. But much of the value in real estate is concentrated in the house, so significant investments in landscaping may not pay themselves back upon resale. And as a buyer, do not pay a premium for someone else's landscaping efforts.
* Neighborhoods: Houses will vary in size from neighborhood to neighborhood. The best advice always is to purchase a smaller home in a nicer neighborhood. Buying what you need in a more prestigious neighborhood may provide more financial reward later, compared with buying something bigger in a less desirable neighborhood.
* Closets: Walk-in closets are very desirable, especially in the master bedroom. Closet space is always an issue.
* Kitchens and Baths: A spacious, updated kitchen is among the most important features in a home. Updated baths are also important.
* Garages: These add resale value.
* Backyard Features: Decks and patios generally yield almost a dollar-for-dollar return.

Why Choose a Tech-Savvy Agent?

When you choose a real estate agent, you’re selecting someone to represent you in one of the largest financial transactions you may ever undertake.

As the Internet continues to simplify the way people research buying and selling homes, there are many good reasons to choose an agent who can harness the power of technology to provide you with exceptional service, including:

* Sending up-to-date information by email for you to review at your convenience.
* Providing you with an online home evaluation to stay on top of current market value.
* Emailing new home listings to you as soon as desirable properties hit the market.
* Delivering e-newsletters to keep you informed about market trends and other important matters.
* Showcasing your home on the Web to help you sell it for top dollar.

Whether you’re thinking about buying or selling or simply want to stay informed about the real estate market, using new technology helps me consistently provide you with timely information and outstanding service.

Lifestyle Shopping

Now that you have thought about the type of home you would like to buy, consider some important criteria that can make a home more or less attractive. Factors to consider include:

* The commute to work: How quickly can you get to and from work? How much traffic will you encounter during the prime commuting hours on the weekdays or around shopping areas and sporting events on the weekends? Do you need access to public transportation?
* School districts: If you have school-age children or are planning to have children, then consider the proximity of local public and private schools.
* Access to shopping: How accessible is the nearest grocery store? How close are prime shopping areas?
* Utilities: Is there an adequate supply of water and electric power? Are there gas lines available? And don't forget access to cable or high-speed Internet!
* Public safety: How close are police and fire departments? How are the emergency medical services? Is distance to the nearest hospital important to you?
* Parking: What is the parking situation? What size garage do you want? Do you have space to accommodate guest parking? Is street parking available?
* Recreation Areas: Do you have recreational interests to factor into your home search? How close is the nearest park, lake, beach, or ski slope? If you are moving to a new community, you may want to check out playgrounds and fitness centers.

All of these factors contribute to a quality of life that will affect your enjoyment of your new home. Consider the lifestyle you want and the area amenities that are important to you. The perfect house in a neighborhood that doesn't suit you will never feel like home.

Pre-Approved Buyers

Sometimes similar-sounding terms can have vastly different meanings. Whether a buyer is pre-approved or is merely pre-qualified, for example, can make a huge difference in the length of time it may take your home sale to close.

Buyers who are “pre-qualified” are those whose lenders have determined how much they can borrow based only on information the buyer has provided to the lender. Nothing has been verified to determine the buyer's true creditworthiness. The buyer still must fill out a loan application and go through the lender's approval process.

For buyers who have been “pre-approved,” the lender has already done a credit check along with verification of employment and deposit. The lender's pre-approval is a commitment to loan the buyer up to a certain predetermined amount. The only piece missing is the lender’s appraisal of the home to confirm its value.

An offer from a pre-approved buyer can trim days or even weeks off the closing process. When I assist sellers, I make sure I am dealing with offers from pre-approved buyers. This maintains the sellers best interest, and makes the process of selling go much more smoothly.

Finding Your Dream Home

There are many choices when thinking about buying a house:

* Home Type: Do you want a detached single-family home, multifamily home, townhouse, or condominium? Do you prefer new construction or a previously owned home? Each has advantages and disadvantages.
* Location: Is a view important to you? How about the size of the yard? Is privacy more important than the size of the yard? Is the home on a quiet street or is there a lot of traffic?
* Size and Floor Plan: What size home do you want? Consider how you will live in and use the space. For example, do you want four bedrooms because you have three children? Or will you use the extra bedrooms for a guest room and separate office or hobby space? How you live in and use your home will determine the size, configuration, and floor plan you need.
* Fixer-Upper: Do you want a fixer-upper? It's a great way to accumulate instant equity, but it does take time and money. Consider financing. It can be a challenge, depending on the condition of the house.
* Special Requirements: Make sure the home has any special features you may require, such as RV parking, central air, a main-floor bedroom, or disability features.
* Family Space: Family activities often center around the kitchen, so this may be the most important room in the house. Larger kitchens are usually better. If the home is a resale, have the kitchens and baths been updated? How much space do you want in your kitchen? Do you like the layout? Are new appliances important to you?

There are so many things to consider when you shop for your new home. I'd be happy to share my expertise to make buying your home a fun and exciting experience. When you are ready to buy, I welcome the opportunity to help you. If you have any questions, feel free to contact me.

Pricing is Key

According to a recent report, nearly eighty percent of potential buyers use the Internet to refine their home search. Broker Web sites let buyers browse by house size, style, area, and price.
Because many buyers look only at those homes within their price range, it's important to accurately price your home for the market. The higher a home's price above market, the fewer the number of interested buyers, and the longer it will take to sell.

The key to selling your home quickly at the greatest return is to price it at market value right from the start. A fairly priced home will capitalize on the flurry of buyer interest a home enjoys during its first few weeks on the market.

Six Ways First-Time Buyers Can Prepare

A cooling housing market gives buyers, especially first-time buyers, more opportunities to snatch up a good deal. But just because there are good deals, doesn't always mean buyers are ready to make the leap.These six tips will help prospective buyers find out if they are ready for homeownership.

1. Take a first-time home buyer class. It will make repairing a credit score and shopping for a loan less stressful.
2. Be conservative. Borrowing too much can mean stretching and even sacrificing--to the point that it’s hard to even keep a six-pack of beer in the fridge.
3. Organize documents. First-time buyers should keep a pay stub, W-2, and bank and retirement account statements on hand to expedite the loan application process.
4. Get pre-approved. Before starting the homebuying process, consumers should get pre-approved by at least one lender. Being pre-approved won't lock buyers into a loan but it may save them the heartache of falling in love with a home they really can't afford.
5. Play house. Every month, prospective buyers should bank the amount that they'd have to pay if they owned a home. It's good practice so they'll be ready for the real thing.
6. Consider all the costs. It's not just a mortgage payment they have to worry about. Repairs, assessments, and other costs of homeownership can add up quickly.

Appealing an Assessment Can Be Worth It

Experts say appealing a tax assessment isn’t particularly difficult and it can significantly reduce what a home owner pays. Here are some tips that apply everywhere, if you believe your tax assessment is wrong.

* Start by calling the tax assessors. Ask how the property is assessed and discuss your specific concerns.

* Make sure the assessors have the correct physical description of the house, including the proper square footage and the correct number of bathrooms and bedrooms.

* Tell the assessors about things that an inspection from the outside the home doesn’t reveal, such as the leaky basement, the crack in the foundation, or other problems that can’t be easily resolved.

* Point out other homes in the neighborhood that are of a similar in size and quality, but have lower assessments.

Before You Buy a Home

So you're ready to find a new home! You may already have a good sense of what you are looking for in your next home. But a big obstacle to purchasing the new one can be coming up with the down payment. Most lenders require buyers to include a portion of their own funds—the down payment—toward the purchase of the home.

Saving for a down payment can be one of the most challenging steps in buying a home, particularly if it is your first home. Your down payment plus your pre-approved loan amount will determine how much home you can afford. A down payment can come from many places: savings, investments such as stocks and bonds, gifts from relatives, company bonuses, equity in other assets, and life insurance policies, to name a few. Moreover, there may be home mortgage alternatives that do not require a down payment.

If you currently own a home, then you may want the equity you have built in that house to serve as the down payment on your next home. But how much is your current home worth? I would be happy to provide you with a market valuation so that you will know its current value.
If you provide me some basic information on your home, I will use it to establish a list of comparable properties in your area as reported by the Multiple Listing Service (MLS). This will give you a range of prices at which your home would be expected to sell. Then I can prepare a more precise and thorough valuation by taking a brief look at your home. If you are interested in this, then I can arrange a convenient time to stop by if you click here.

Staging a Home for Sale

I have found from experience that the activity during the first two weeks a home is on the market tends to predict how long it will take to sell. Potential buyers eagerly jump on new homes on the market.

Here are some “staging” tips you might find helpful:

* Keep your home in “show shape.” Make sure that beds are made, dishes are in the dishwasher or put away, everything is picked up, and the kitchen and bathrooms sparkle.
* Decorate with fresh flowers. Many home sellers use potted flowering plants that last much longer than cut flowers. Place them inside and out. They really add cheer!
* Turn on lights; replace all burned-out bulbs. Open blinds and draperies. Let the natural light in.
* Confine pets and keep them out of sight when possible. They can be distracting, and some people have allergies.
* Create a relaxed atmosphere with soft background music.

For more staging ideas, contact me by clicking here.

10 Features That Really Help Sell a Home

In this tough market even small things can help a home sell faster. Here are 10 things home buyers are looking for in today's homes.

1. Outside electrical outlets — especially those installed high up for holiday lights.
2. Permanent grill with gas service.
3. Electrical service for a future hot tub or fountain.
4. Security lights.
5. Speaker wires that are installed throughout the house, especially if a diagram is available.
6. Exterior speakers — if they stay with the home.
7. Lawn sprinkler system (note whether it has been winterized).
8. Availability of drawings and permits for substantial renovation work.
9. Storage that is both obvious and hidden, including a crawl space with lights and any oversized closets.
10. Swing-out drawers in the kitchen pantry.