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.

23 Ingredients to Successfully Selecting a Contractor or Home Remolder

23 Ingredients to Successfully Selecting a Contractor or Home Remodeler for Buyers

1. Shop around … don’t rush into choosing a contractor.
2. Get references from friends, neighbors, and family who have had similar work completed.
3. Get at least three written estimates for identical work so that you can easily compare bids.
4. Get references from the contractors so you can check on their work.
5. Call your local municipality and see if there have been any complaints against any of the companies you might consider for your remodeling.
6. After you have made a choice of contractor, don’t let work begin without a signed contract. Be sure to seriously consider having an attorney review prior to signing.
7. Be wary of signing a “letter of agreement” or even a contractor bid form—this might be a binding contract.
8. Be sure to specify what is to be done and when work is to be completed. Make sure the contract contains:
9. Who will do the work?
10. When will the work be completed?
11. A detailed list of specific materials to be used.
12. The appliances or fixtures to be supplied.
13. The dates for beginning and completing the job.
14. Monetary penalties for non-completion of project on time.
15. A provision for the cleanup of the premises.
16. Don’t sign a contract that reads “work as per agreement.”
17. Specify that contractor will obtain all necessary licenses and permits.
18. Specify contractor will meet all zoning regulations and building codes.
19. Be sure contractor will indemnify you in case of not meeting all regulations.
20. Be sure that the contract states that the contractor is responsible for any damages to your property.
21. If contractor guarantees the work, be sure it specifically states what is guaranteed and for how long.
22. Contract should state when payment is due. Never pay full price in advance; link payments to certain stages of completion of the entire job.
23. Final payment and the signing of any completion certificate should only take place when the work is completed to your satisfaction.