Thursday, April 29, 2010
Tuesday, April 27, 2010
Selling Your Own House
There comes a time when you either choose to or have to sell your home. As you may already be aware, most people tend to turn to professional real estate agents when selling their piece of property. Although the realtor may acquire six percent of the sale, sometimes this is a more convenient way to get the house sold quickly and efficiently. In other words, you do not have to be burdened with placing ads, taking pictures, updating websites and other routine home sale processes. However, you should be aware that selling your own house is totally feasible on your own. Websites such as housebuyernetwork.com, forsalebyowners.com, as well as owners.com all offer services to help you sell your home. Not only do these websites walk you through the process of selling your own house, but they additionally provide tips for selling your home more quickly and for a higher price. If there is one thing you should realize about selling your home it is that presentation is everything. This means that you should really work to arrange your house nicely and keep it clean for potential buyers to view. After all, no one ever wants to walk into a dirty house. Secondly, pictures are key. The pictures you place on the MLS are crucial when it comes to getting individuals, couples and families to view your home in person. No one is going to set up a home seeing if your photos online do not show the true potential of the home. A picture says a thousand words! If you are currently selling your own house, you should always keep in mind that people do not overlook little things to see the bigger picture. This means that the poorly kept furniture or unsightly curtains in some homes will not go over well. Many home buyers will see this and turn away from your home in an instant. It may sound sad or bizarre, but some people cannot overlook these things. The negative aspects are all they see when passing through your humble abode. So it is your responsibility when selling your own house to keep it presentable and basic on some levels. Personal items are not recommended if you are selling your own house. This is basically because people browsing through the rooms of your home do not want to see pictures of you and your family. They want to envision their own things in the house, and if you make this difficult, it may be a turn-off to some home buyers. So in the end, you have to de-personalize a home when you are striving to sell it. Keep everything neat and tidy, always turn on all of the lights, open all of the blinds to make the house look larger, and light a few candles before a showing so the home smells good.
Pricing A Home
How To Price A Home A home will sell for two reasons: price and exposure. In the real estate market for the 21st century, exposure has taken a new turn with the advancement of many Internet technologies for real estate. Be it as it may, the real estate industry's new exposure tools will not help a home sell if the home is not priced correctly. When considering putting your home up for sale, it is very important to first analyze your real estate market on a subdivision level, not a metro-area level, to derive the features and amenities that are driving the value in your neighborhood. You must then establish a pricing strategy in accordance with your financial and timing needs. Identifying Selling Needs No two real estate transactions in today's world are identical. As a homeowner, only you can derive your needs with selling your home. We will call this your "win" in your real estate transaction. Be careful; the years of owning your home can cause a strong emotional attachment and can cloud logical thinking. This is absolutely normal, and fortunately, there are professionals available across the nation to help bring a logical, non-emotional approach to selling your home. These professionals are known as real estate agents, and each can be a vital tool in making sure you get the most amount of money for your home in the least amount of time, and with a minimum level of stress. You will want to focus on your timing needs first. Do you want to sell your home in 30, 60, or 90 days? Are you looking to have a contract by that date, or to be closed and moving into your next home? Always remember that in typical real estate transactions, buyers will take approximately 30 days to close on a home. This time period involves getting inspections, negotiating repairs, and securing financing with their mortgage professional. Are you going to need a certain amount of equity after closing on your home? If so, lets understand this number from the very beginning and make sure that this need will be satisfied out of the sale of your home. Understanding Your Local Market The next step to selling your home is to make sure that you have leverage. Leverage is the key ingredient to winning in a real estate transaction. When selling a home, leverage is achieved by pricing your home at a market price that will attract the most amount of buyers for your area. Homes can be priced one of two ways: negotiation and market. Pricing for negotiation will result in exactly what a seller expects: negotiation on the asking price. Pricing at market will allow your home to be exposed to the widest range of buyers and enable the seller to have a leveraged position in the real estate transaction. There are three types of market research that one must analyze when pricing a home: sold, expired, and active properties. First, the sold history for your subdivision for the past year will give great detail on the selling trends in the neighborhood. By analyzing the sold price per square foot of homes with similar features, amenities, and condition, you can easily identify your selling range in relation to price per square foot. Price per square foot allows you to level the playing field and compare apples to apples. A homes square footage is a basic unit of real estate, and all homes will be priced according to the size of the home. At this point, you will want to gain an understanding as to why homes are selling in the per square foot range that they are being sold in. Once this step is complete, we can have a higher level of understanding as to which homes are desirable and getting the most money, and which are the exact opposite. After you have made conclusions as to why homes are selling in the range that they do, you can then test these conclusions on homes that did not sell, or expired properties. This is done to make sure that the conclusions derived during the analysis of sold properties are accurate and applicable to your real estate transaction. Remember: Not all real estate transactions are typical and your conclusions may not be able to explain exactly why a home did not sell. You can usually assume that if your conclusions can logically explain why 3-5 homes have not sold in the past 6 months, then your conclusions are accurate enough to be considered factual. Find Your Homes Selling Range Now that we have an understanding as to why homes are selling in the range that they are, we can then look at the features and amenities of your home and identify the price per square foot range that will be most suitable for your home's asking price. For this information, we are going to look back at the one year sold history of your neighborhood. It is important to be realistic and logical in this step of the pricing process. If your home is 1500 square feet, look at what other homes within 200 square feet are selling for per square foot. You will also want to take into consideration the other main features that buyers are interested in: bedrooms, bathrooms, year built, and unit stories. After you have pinpointed homes that are similar to yours, see the maximum and minimum price per square foot that they are selling for to give your home a possible selling range. Don't be surprised if this is a large price range. We are simply identifying the range at which similar homes are selling for. We will then take your needs to determine what part of this selling range your home should be priced in. Price According To Needs while Analyzing Competition Do you remember earlier when we identified your win in your transaction? These rules for selling your home, usually timing and required equity, will help you determine the most appropriate price entry point for your price per square foot selling range. You will want to make sure that your final asking price will satisfy all of your needs. Let's say for example that you must sell your home in 90 days. Your main concern is to make sure that you receive an offer within these 90 days, and are perfectly fine with closing 30 days later. You also want to make sure that you will net at least $25,000 from the sale of your home after paying all selling expenses. The next step is to look at the amount of inventory for homes with similar features to your home. The most important factor to look at is the number of bedrooms. In the past twelve months, how many homes were sold that had the same number of bedrooms as yours? How many homes are there on the market now with the same amount of bedrooms? When you know these two numbers, you can derive the amount of inventory available. If there were 12 homes sold with 3 bedrooms in the last 12 months, that means there was on average one home sold per month. If there are six homes available, it is safe to say that there are 6 months of inventory. For our example, we must receive a contract on a home within 90 days. If there are 6 months of inventory available, then it is accurate to state that the current level of competition will take a toll on your final asking price due to your 90 day requirement to receive a contract. You must make sure that your home is more attractive than your competition, especially now that we know that we must receive a contract in 90 days and there is 6 months of inventory available. Using this same logical approach, you can determine where your home must be priced in your selling price per square foot range. Make sure that you stay non-emotional and realistic when finalizing these numbers. You want to make sure that you can satisfy all your needs when selling your home. If your final asking price is reduced due to a high level of competition, and this reduction causes you to not net the equity you need, then you will simply lose by putting your home on the market. Be sure to understand this concept and be assured that you are making the most informed, intelligent decision possible. Selling your home can be a very tedious journey; you will want to make sure that your time invested will be able to satisfy your selling needs or else your efforts will be wasted.
Quality Homes vs Low Price Homes
No matter what you buy, you get what you pay for! Cars, food, office supplies and homes - no difference. Even though price doesn't necessarily equal quality, there is a lot to be said for quality for vs. Price when it comes to real estate pricing. Here are some tips on how to compare quality homes vs low price homes. In today's economy, almost house in the U. S. Has been hit with a significant devaluation. It doesn't matter if the homeowner is upside down on his mortgage or not. All homes are worth about 25% less than two years ago. And these are homes that are being maintained, lived in and paid for. What happens to homes that are foreclosed on and abandoned? These homes usually sell for pennies on the dollar for a number of reasons, and the most important one is that the homes have been vandalized. Frequently, the damage was done by the previous owner before being evicted. This type of senseless vandalism brings the value down to a point where, on paper at least, many prospective buyers see this type of home as affordable and tend to focus on finding these properties to bid on. However, even though these low priced properties might even be found in what is still considered desirable neighborhoods and developments, and the homes themselves may have originally been built with plenty of above average detailing and quality, they no longer in that classification. They are ruined. These previously quality built homes are now going for some almost unrealistically low prices simply because they have been stripped of whatever worth they had by owners or even vandals who gained entrance to the homes while they stood vacant waiting to be sold again. If buying a home in this condition isn't something that interests you, then you do need to focus on only homes that have retained their quality through the sales process. Normally, these homes will be found through private sales and perhaps short sales. Since these homes are usually still being lived in by the present owners you have a better chance of buying quality and getting a decent price based on today's market (and what lenders now view as the true value of the home). Keep in mind that low priced homes might seem more affordable, but with all the damage you can expect to find, you should plan on spending thousands and thousands of dollars to get the property into a move in condition. This money needs to come from your own funds, not the bank. A few years ago you could roll this amount into the mortgage under the guise of a home equity loan or line of credit. These loans essentially do not exist any longer. Rather than spending all your money to rehab a home where rehab work might be impossible to determine up front, it would actually be in your best interest to buy a quality home where there are few or no immediate repairs that need to be done.
Buying Real Estate In A Declining Market
The idea of buying Real Estate in a declining market is not usually something you would consider. This is because it will be awhile before you will make any significant profit off of it. You will also have a difficult time making any sort of a profit off of your own home in which to purchase your new home. That will place you on the selling end of this deal, which is exactly what you want to avoid. Buying real estate in this type of a market is only risky when you are forced to be on the selling end of it in any way. Purchasing a new home in a declining market if you have sufficient funds can actually be a smart move eventually. This is because you will have less to loose and will eventually make a significant profit. You will also be able to keep your current home and still make an increasing profit. This is not typically a good idea for the average person. This is because there is such a significant risk of loss. This loss is associated with the loss of profit on the selling of your current home and the possibility that the market does not turn in your favor. If you do decide to purchase a home in this declining market you do have the upper hand. The ball is consistently in your court because the seller is just dying to make a sale. They will be willing to sell at a ridiculously low price on their end that ends up benefit you a great deal. Once you do make your purchase you may have to wait awhile until the market turns around. This may take several years. However, depending how much you paid in comparison to how the market has turned around will decide your overall profit. Buying a larger home at this time is the best possible option. This is the best choice for several reasons. This is true because it is the period in which you will be able to purchase the home at the lowest possible cost. Also, you will in turn make the largest profit once the market turns. If you are fortunate enough to have the funds in which to do this, this is the best decision you can make. This is typically only a good investment if you are able to buy an extra home rather than a replacement for your current home. This is because you are able to sustain your current financial status in your own home and are not actually loosing any money. You are also making a significant investment that will eventually pay off significantly. This will greatly benefit you and your family. Overall, making a real estate purchase in a declining market can be a smart financial decision. However, you must be aware of the risks you are running. Also, you will want to be sure that you have a large amount of sufficient funds in which to back up your decision.
Avoid Home Foreclosure - Facing Foreclosure? Some Options That May Help You
If you are facing a foreclosure, there may be options to negotiate a workout program with your lender. To get help with a foreclosure you have to start by talking to your lender. Help is available if you are willing to workout a reasonable repayment plan with your lender, while this can sometimes be difficult, you may be able to save your home. They really do not want your house back. Let us cover some options that may be available to you if you are facing a foreclosure. The continuing flow of creditors and collections agencies called you can be over whelming, while it may seem hopeless, you may have options. Starting with the most important, your home, the others may have to wait and be fixed later. Lenders usually will offer several options to a homeowner that is in default on their contractual obligations of a mortgage payment. They would much rather workout a program that is best suited for all parties involved then to come and take your house. They are in the business of lender money, not managing properties. This is true even more today, with foreclosures at record highs, banks have been overloaded with homes that they must not manage and maintain until they are able to sell them to someone else. The time that you have to negotiate a deal, is often very limited. In most states, a borrower that is in default 60 or more days is just about out of time. This period varies from state to state so make sure that you have checked your local laws. Lenders can and will take legal action to foreclosure on your home if you are not talking to them. Here are some possible solutions that you can offer to the lender to avoid foreclosure. While not all will be satisfactory to the lender, you can at least make the offer and let them tell you. Reduced Payments Lenders may be willing to take a reduced payment for a specific period, this will allow you to remain in the home and catch up the default amount over time. Some lenders will not allow you to do this, but it never hurts to try. Short Sale Lenders may let you sell the property for less then what they are owed on the loan. More and more lenders are allowing this type of transaction as they have realized that it costs them much more to pursue the foreclosure then if they just settle and take what they can get.
Best House Color to Sell
Love at first sight is a concept that applies to the real estate market. So, what is the best house color to sell your home to a love struck buyer? Best House Color to Sell When you go to social events, do you make an effort to snazzy yourself up? Of course you do. The simply fact is attraction is a key factor in forming relationships and the same applies to your house. When you put the house on the market, you need to make it look good for the dates with potential buyers. The color of your house can make all the difference. First, there is no absolutely correct answer to the best color. Instead, the decision depends on the makeup of your home and the surrounding landscape. Let’s take a look at some issues: 1. Whatever color you choose, make sure it doesn’t clash with the other homes in the neighborhood. An otherwise appropriate color could end up making your house an eye-sore. 2. The Roof. What color is the roof on your home? If it is a red tile roof, off-whites are probably going to be the best choice. Dark green will not. Unless you are going to invest money in a new roof, make sure the paint color doesn’t clash with it. 3. Highlights. If there is a particular part of your house that should be emphasized, used light colored paint around it to draw attention. 4. Hide It! Conversely, if there are parts of the house that are mundane, use darker colors to draw attention away from them. 5. On large flat surfaces, such as the side of a garage, keep in mind the color you choose will have a washed out appearance. Now we get to the fun part. After considering the above issues, make a preliminary list of colors and buy small cans of each color. In a private area of the house, start applying samples strokes a couple feet long and a foot or so wide. Try to paint examples in both shaded areas and those exposed to the sun. Do not immediately judge the results of your experiments. Instead, wait a few hours for the paint to dry and then start comparing. Dry paint takes on a very different appearance than wet paint. Once the paint is dry, take a long look at each sample. You will typically find the colors look much different than you thought they would. You may find one color is perfect or you may find something a little different would be best. Either way, you’ll have come up with the best house color to sell your home.
Basics Of Home Buying
The most important investment you will ever make is probably the purchase of a home. Finding the right home for you can be a long and arduous process, but there is no getting around that. Know Your Wants And Needs Before embarking on your journey of house hunting, you must know what you really want to find. Sit down with pen and paper and list all the features you care most about, such as: - Location (in a particular city, school district or neighborhood) - Size -- how many bedrooms and bathrooms - Parking -- a 1-car garage or 2? - Style -- 2-story house or ranch style home? - Heating -- central heating and/or air conditioning? Equally important, on a new sheet of paper list all the features you absolutely do not want in a house. For example: - high-traffic area. - high noise area (airport, train station or highway in close proximity) - maintenance -- major repairs needed As you look at houses, keep both lists in mind. Your lists may change over time as you do more looking. You'll want to add or remove features, or perhaps you'll become willing to make compromises. Realize that you most likely will not find the "perfect" home. Experienced homebuyers will tell you, perfect homes are not found, they are made perfect through hard work. Get Your Credit Report In Order Prior to looking at properties, you must get your finances in order. This is the time to review your credit report and clean it up, if need be, to maximize your credit score. Many people do not realize how important it is to check your credit report periodically to make sure it is accurate. You should pay off any past due amounts, or negotiate a settlement price to close the debt. Get such agreements in writing, before paying any settlement. Keep all receipts for any settled items from your credit report since it may take months to get the debt actually removed. Research Your Home-Buying Options Decide what kind of property you are interested in. Do you want a HUD property, a foreclosure, real estate, or property for sale by owner? A number of web sites list homes according to city, state, or price range. Visit these sites to see pictures of homes, many with virtual tours, and review the listing features. Get Pre-Approved For A Loan You're ready now to find a lender and get yourself pre-approved for the loan. Being pre-approved offers a number of advantages. It will clarify the price range you can afford. Also, once you find the home you want, you can place an immediate offer. If you have to wait for pre-approval, someone could buy the house right out from under you. Several special programs are often available from lenders, such as the FHA or Ameri-Dream, that can save you money in the closing. Ask the lender about any special programs before you decide on a loan. Find A Good Real Estate Agent It is wise for the first time homebuyer to work closely with a real estate agent, no matter what type of property you're looking for. A knowledgeable real estate agent will make your house-hunting much easier. A good real estate agent is usually a good negotiator, and will be able to help you with the complicated paperwork involved in placing an offer on a house or in closing a deal. It's essential that you have a real estate agent working for you as the buyer, rather than relying on the seller's agent for the house you want to buy. The latter can involve a conflict of interest, which usually works to your disadvantage. To select a real estate agent, you should check with your friends and neighbors for recommendations. Find an agent you feel comfortable with and who is knowledgeable about the area you hope to buy in. These are just the basics of home buying. You will find many details you need to master as you move through the buying process, but having these basics under your belt will give you a head start.
How Much Will You Make on The Sale of Your Property?
Most people look to comps in their area to come up with the listing price for their property. This is logical, but you also have to focus on the bottom line. How Much Will You Make on The Sale of Your Property? It happens more often than you might imagine. A homeowner decides to sell and goes about figuring the best price to sell. They may set a price off of the cuff or do research to ascertain the best price that will result in a sale within a specific time period. What many do not take into account, however, is the ultimate amount the will get from the property. This can lead to brutal surprises when the ultimate amount is much less than expected – a concept known as seller’s remorse. In reality, the decision to sell your property should only be made after determining what you can objectively get out of it. Most people, however, tend to eyeball this amount. If you have a lot of equity in the property, it really is not an issue. If you don’t, you better start calculating or you could be in for a bad shock. The first place to start is the estimated price you will sell for minus the outstanding balance on your mortgage. This gives you a rough estimate of your equity, but should not be relied upon as the final cash out figure. Instead, you have to sit down and start calculating the other costs such as: 1. Mortgage pre-payment penalties, 2. Property taxes for the portion of the relevant year in which you are selling. 3. Any costs associated with repairs to the property to get it in shape to sell. 4. Attorney’s fees if a lawyer is required to be part of the process in your state. 5. Incidental costs associated with the sale as agreed to in the purchase agreement with the buyer. Items can include title insurance premiums, recording fees, inspection fees, warranty insurance, escrow fees and so on. One area people completely forget to factor in is, ironically, the biggest expense. If you use a real estate agent, you are going to pay a significant commission. A typical 6 percent commission on the sale of a $300,000 home is $18,000. More and more sellers are bypassing this by selling their properties without agents, which makes sense given the money involved. Regardless, you need to ascertain how you will sell the home and the relevant cost of doing so as part of your overall calculation. Making the decision to sell is an emotional one. It should, however, also include a hard, cold look at the financials involved and whether doing so makes sense.
Are You Ready For A Home?
Have you spent years renting homes or apartments and have grown tired of paying all that rent money to someone else? If so, then it might be your time to consider purchasing a home, and keeping that cash for yourself. However, you do need to ensure that you are prepared on more than one level before jumping into the equity market. There are many financial considerations to make note of before you start looking for a home. But, if you can arrange your finances into a sensible plan and secure a mortgage then this can ultimately be the most rewarding purchase you have ever made or will make. Finance plays a huge role in the decision to purchase your first home. This is to be expected as if you are purchasing your first home you will not likely have a few hundred thousand dollars sitting around and will have to find a mortgage of some sort. You should really make sure that you are prepared for the application for a mortgage as it will involve a thorough investigation of your past credit history. If there are any issues that you know of with your credit then you should take care of them before you apply for the mortgage. Sometimes this is a simple case of oversight, some things have been taken care of and not recorded as such, and sometimes there can be some debts that you will need to see to. Once these are taken care of, be sure to get a letter of release that you can show to the mortgage broker or company if necessary. If there are no issues with your credit then that will only make the process easier. With interest rates so low, this is a great time to get your financing taken care of. With rates being so low, you have more buying power now than ever before. There is no stronger tool in the home buying process than having all your financing in line before you start shopping. This is a great attraction for sellers as they want their homes to sell quickly and without incident or trouble in the money phase, a buyer with ready-to-go financing's offers will hold greater favor with almost any seller. If you are mindful of these things then when the time comes to make your offer, the whole affair will go much more smoothly and you will be able to dedicate your time to what is important. How to decorate your new home.
How Much Is My House Worth?
Are you wondering "how much is my house worth?" I have two answers for you. First, if you don't really need to move, it is worth whatever you say it is. If you think, "I wouldn't sell this house for less than $300,000," then it is worth that much to you. If you need to sell it, though, what it is worth to you is irrelevant. Market value is the only relevant value once you are ready to sell. This is the value according to all the home buyers out there. They don't care what you spent renovating the house, or what you originally paid. Spend $50,000 adding a pool, and they may only pay $20,000 more for the home. Real estate is worth what the market says it is worth. How Much Is My House Worth - Part One To estimate the market value of your home, use "comparables." This is how appraisers do it. Find at least three similar homes nearby that have sold within the last six or maybe twelve months (these are your comparables). This information is in county records (sometimes online now), or ask a real estate agent with access to the multiple listing service. Get the sales prices, terms of sale, description of the property, and other information. Take your first comparable, write down the selling price, and review the description item by item. Add to the sales price of the comparable for each thing it doesn't have that your subject home has, and subtract for each thing it has that your subject home does have. This sounds confusing, but it will make sense once you try it a couple times. For example, if your home has a second bathroom, and the comparable doesn't, add the value of the bathroom to the sales price of the comparable. If the comparable home has a blacktop driveway, and your's doesn't, take the value away. You'll have to estimate what these things are worth, or ask for professional help. You are rectifying differences, to see what the comparable home WOULD have sold for if it was just like yours. If a comparable sold for $242,000, with one less bathroom than your home, and a bathroom is worth $15,000 in your area (ask a real estate agent for help with these figures), then you ADD $15,000 for the bathroom it doesn't have. Subtract, say $5,000, for the paved driveway it does have, that your home doesn't have. $242,000 plus $15,000, minus $5,000 gives you a comparable sales price of $252,000. Do this with each comparable, then average the three comparable prices. If, for example, the three comparables now have adjusted sales prices of $252,000, $262,000, and $249,000, add the three figures and divide by three. The indicated value of your home is $254,300. This is about what it should sell for. How Much Is My House Worth - Part Two Appraisal is an inexact science. If you can only find houses sold over a year ago, you should probably estimate appreciation in the area, and add that. If one sold with seller financing, you have to adjust for how this affected the price. These complications make it tough to appraise your own home, so what if you need help? There are other ways to find out what your house is worth. You can pay for a professional appraisal. This way you will also have something to show to prospective buyers who doubt the value. Be sure to tell the appraiser about anything she might miss, like a newer roof, or specially imported tiles. What about online services that tell you what your house is worth? They don't have enough access to sold prices of homes around the country to have a program figure the value of your house. Instead, they usually just take your basic information, e-mail address, and phone number, and sell this "lead" to a real estate agent that will contact you. It is better to find a real estate agent on your own, and ask "How much is my house worth?" Find one who has sold homes in your area, and ask if she can do a "market analysis" of your house value. Normally this is free, with the agent hoping to impress you and get your business. Often, if the agent has experience and has worked in your neighborhood, they'll do a better job than an appraiser, and the price is right.
How to sell your own home
You're selling your home as a FSBO (for sale by owner) and you get annoyed when real estate brokers call you, right? That's a reasonable response when you're doing all the work to market your property to save thousands of dollars in broker commissions. However, when a "buyer broker" calls, you might want to listen. Why Listen To understand why I say that, we need to understand the functions of "listing brokers" and "buyer brokers." Real estate brokers can and do serve both functions, though some specialize. Some brokers who call you are interested in listing your home. They want to market your home for you. The amount of commission charged for this service varies, but where I live, most brokers list homes for a commission of 6 percent of the sales price. When the home sells, if another brokerage firm has brought the buyer to the deal, the listing broker pays the selling broker half or 3 percent. When you're successfully operating as a FSBO, you're getting folks to come and look at your house, or condo, or whatever, and you don't need a listing agent. However, what if you've been doing this for a while and none of the lookers has been converted to a buyer? What then? Well, if a broker calls you and says he or she is working with buyers and they'd like to be able to show your home, maybe you should consider it. That being said, the 'buyer broker' will probably only expect half of the listing commission. You are still saving alot of money. Perhaps you can even negotiate down a bit from half. This is especially true if your home is fairly priced above the average median price for a home in your area. In my area where 3 percent to a selling broker is frequently acceptable, I've seen brokers accept 2.5 or even 2 percent. It doesn't hurt to ask. As a bonus in that situation, you get someone who is knowledgeable about the process with an interest in getting the deal to settlement. True, they don't represent you. They represent the buyer, but the buyer wants your home and the broker wants a payday. In short, the buyer broker has incentive to put an oar in when problems arise. Don't misunderstand me. No one would suggest that you pay more than is necessary to sell your home. At first, take names and phone numbers of "buyer brokers" who call you. Then, if you find you need to, call back the ones who impressed you. There is a middle ground between going it alone and listing with a broker. If you find you need to, this middle ground can be worth exploring through buyer brokers.
Help in choosing a home builder
When deciding on building a home, it is not only a stressful event in your life, it is probably the most expensive purchase you will ever make. Whether you are buying a condo, a townhouse, a house in a subdivision, or a custom built house, you want to know that you are buying a good quality home from a reputable builder. The home builder you choose can make building your new home a success or a nightmare. Here are a few things to keep in mind when picking a home builder that you want to build your new home. 1) Make appointments to meet with home builders you are interested in. Your discussions with the builder can determine a lot by the answers to your questions that are important to you. 2) Compare builders on the same criteria. Choose a specific job, such as shower, there should not be much variance between home builders. Prices will vary though amongst the home builders. If price is the deciding factor, pick neither the highest or lowest, all other things being equal. 3) Look for quality and value. When looking at new homes, really inspect the quality of workmanship and place a value. Check out open houses and model homes to look at. Model homes are commonly furnished, providing insight on how to use your space within the home. Also, see if you can see an unfurnished home for comparisons. Inspect the cabinetry, carpeting, trimwork, and paint throughout the home. Ask the builder or the builder's representative a lot of questions. These are just a few things to consider and look into when choosing a home builder. This is a great time to purchase a new home with the interest rates so low. So choose a home builder who builds quality along with value. Having both can make the difference in building your new home.
What is a patio home?
What is a patio home? A patio home is a type of house being built. The term patio home tends to imply a suburb setting and a building with of several houses attached to each other with shared walls between units, and with exterior maintenance and landscaping being provided through a home owners association. Not all of these elements are always present. The patio home may actually be a condo when the building's owner does not own the land, or it may be sold in free simple. Buyers are mostly those who do not want to be bothered by external maintenance that’s associated with home ownership. Patio homes have become very well liked by the retired generation because they offer most of the usual advantages of single family home ownership, including more privacy than condos or townhomes, while delegating most external building and lot maintenance chores to a HOA. Here are some advantages of owning a patio home:
- not as many homes compared to townhomes or condominiums
- only neighbors next to you, not above or below
- often no shared walls
- affords a low-to-no maintenance free lifestyle
- great for people on the go, just lock and leave
- little to no stairs and low maintenance
With all this going for you, who wouldn’t want to own a patio home? As patio homes are becoming more popular, more patio homes are being built across the country. The prices of patio homes and the low interest rates, make this is a great time to buy your new patio home!
What is a patio home?
What is a patio home? A patio home is a type of house being built. The term patio home tends to imply a suburb setting and a building with of several houses attached to each other with shared walls between units, and with exterior maintenance and landscaping being provided through a home owners association. Not all of these elements are always present. The patio home may actually be a condo when the building's owner does not own the land, or it may be sold in free simple. Buyers are mostly those who do not want to be bothered by external maintenance that’s associated with home ownership. Patio homes have become very well liked by the retired generation because they offer most of the usual advantages of single family home ownership, including more privacy than condos or townhomes, while delegating most external building and lot maintenance chores to a HOA. Here are some advantages of owning a patio home:
- not as many homes compared to townhomes or condominiums
- only neighbors next to you, not above or below
- often no shared walls
- affords a low-to-no maintenance free lifestyle
- great for people on the go, just lock and leave
- little to no stairs and low maintenance
With all this going for you, who wouldn’t want to own a patio home? As patio homes are becoming more popular, more patio homes are being built across the country. The prices of patio homes and the low interest rates, make this is a great time to buy your new patio home!
Buying a home rather than renting.
Buying a home rather than renting. Owning a home is the American Dream. It can be attained by most and it is the largest, most stable investment one can make. With home prices going down now, is now a good time to buy? If there’s any risk that it may go down in value, why, really should anyone buy a home instead of renting? When you rent, your money goes to the owner. A home is about freedom, stability, security and pride in ownership. It is a place to raise your family and an investment in your future and the community. Take into account when buying a home verses renting: - Your building equity - A chance to appreciate - Preferential credit options. - Beneficial tax breaks - Personal control - Pride of Ownership Finally, home ownership has plenty of non-financial benefits, too. When you own a home, it’s yours; you can do what you want with it in terms of decorating, gardening or renovating. Remember, you not only own the house, but the land it sits on. There are few things as empowering as knowing that there’s a piece of the world out there that belongs to you, a place you can truly call home.
Unusual Home Decorating Tips
Your home is your sanctuary, and you probably do all that you can to make it the comfortable and stylish place of which you dream. You work hard and you have read hundreds of articles about basic home decorating tips. Those are great, but there are other things that you can do other than choose paint colors and designs, get new furniture, and go shopping for the right accessories. There are some interesting and less common things you can do in your home that you may not find in anyone else's home. Not only will you love the results, you will have something that you can call your own for years to come. If you look around online for home decorating tips, you may run across many different paints, colors, and designs. However, there are a few hidden sites that offer you more for your walls. If you have ever been moved by a saying or quote, you may want to turn that inspiration into home design. There are some companies that offer words for your walls. These are typically vinyl and can adhere to any wall. If something moves you, you can see it every day on the wall of your choice. The words are easy to apply and remove, and done in beautiful script in many font sizes. For the homeowner who wants to be as green as possible, there are some home decorating tips out there for them. There are many great décor items that you can buy for your home and even for your wardrobe if you like. These are made with 100 percent recycled materials, and sometimes those things are cleaned and left in original form. You may find a lamp made out of license plates or other really kooky, but otherwise original items for your décor. These items range from stylist to downright outlandish, so there is something out there for everyone. While many use antiques to find home décor items that are unusual in current times, you may want to find homemade home items. It use to be hard to find such things unless they were nearby, but that has changed today. You can still find local people who make such things, but you can also find someone that makes them as far as the other side of the globe. These unusual home decorating tips and items can be found online from many different sources and can usually be shipped to your home rather quickly. This is one great way to find items that nobody else you know would ever have in their home. Other unusual home decorating tips can come from your own mind and your home. Do something different with things that traditionally have just one normal use. Take your old blender, paint it to match your décor, and use it as a flower vase in your foyer. Take your old bedroom dresser and use it to keep all your essentials in your bathroom if you have the space. Your own imagination may come up with some great ideas and some not so great ones, but you don't know until you try. You may surprise yourself.
Should You Use Other Search Engines?
If you are like most people who spend a lot of time online, you have a favorite search engine that you use each and every single time you want to look something up. There are some good reasons for this, but the main reason would be that you know that particular search always seems to bring up what you want and you never have trouble finding the right information. However, if you are doing extensive research on something, you may want to try out some other search engines, even if you do not think they are quite as good as your favorite. Why should you try other search engines? You should think about what you find and why each search engine is different. If they all worked in the very same way there would be no need for any other the others. The first search engine would have been enough. Instead, each person or group who has come up with a search engine has a different way of deciding how information should be found and indexed. That means each engine is going to come up with more or different information. Some of the other search engines are well known to you and you may have used them in the past. You may have quit using it because you did not like how it worked, but more likely it was because another was there and you tried it and you found it much easier to use. When you move from one engine to another, it is usually not a conscious thought. You just did it. That is how there are many other search engines out there with users even though there are a few that have, by far, the most users. What does this mean to you? It means that you know where to get a lot of great information using your usual search, but it also means that you can find different information if you try out a few of the other search engines. Because they all index information in a different way, they are going to list results in different ways too. A site with great information may show up on the front page of one search engine, but will be buried on another so that you'll never find it. You may miss what you want if you do not go through each page of results, and that would be impossible. When you are researching something and need a lot of great information, use the other search engines as well as you favorite. You can see what you get with each one and then use the best information that you have found. If you are searching for someone, you may find them through one search when they did not come up through another. This is just the nature of how search engines work. No matter what you seek, if you must have the best and most thorough information, use all the search engines you can find so you know you have found what you need and have left nothing out of your extensive search.
Looking to sell your home quickly?
Looking to sell your home quickly? Tips on getting a fast home sale in a tough market With fewer qualified buyers and more homes on the market, making a fast home sale may seem a daunting prospect. You want to get a fair price, yet not have your home languish on the market. Here we have some strategies to help you obtain your objectives. Today, it's more important than ever to be mindful of the details that make your home more appealing to potential buyers. Let's take a look at some of the inexpensive options savvy sellers exercise to sell a home quickly – and for the best price. Almost every potential buyer will make the results of a home inspection a contingency of their offer. Consider paying for a home inspection before putting your home on the market. If you wait until you have an offer, a home inspection which reveals problems can be a deal breaker. It's best to know about things the buyer will need to fix and, if possible, make the repairs necessary for a clean home inspection report. Hire an experienced real estate agent. A good agent can help you price your home right and suggest specific steps you can take to make your fast home sale a reality. Real estate agents know what buyers like and what puts them off. Discuss various incentives which may be appropriate to potential buyers in your area. For example, if there's a glut of properties for sale in your neighborhood, offering creative terms may be all you need to attract more potential buyers and sell your home sooner, rather than later. Follow the advice of your real estate agent. After all, they are working for a commission on the sale, so the agent is going to benefit from a fast home sale, too. On the other hand, if you feel confident that your home is in great condition, passes a home inspection with flying colors and is a better value than other homes in your area, you might come out ahead financially by following the 'for sale by owner' strategy. That commission can run many thousands of dollars, which might be better spent on nurturing that 'curb appeal', from the sidewalk right on through to every nook and cranny inside, with improving your landscaping, replacing the somewhat worn living room carpeting or sprucing up the kitchen or bathrooms with fresh paint, flooring or wallpaper. If your home is in good shape, you can have your fast home sale and come out money ahead. The FSBO approach is becoming more and more popular with buyers, because of better pricing. Take a hard, honest look at the state of that all important curb appeal with respect to your home. For example, if your exterior window trim and doors could use a fresh coat of paint, this is an inexpensive visual fix that helps make a good first impression to a buyer. Keep your windows sparkling, inside and out. This sends a subtle message: “This home is well maintained.” If bicycles and yard tools are a normal part of your 'landscaping', this only makes the yard look cluttered, so clean up this sort of thing. A home which looks cluttered does not bode well for the fast home sale objective. Clutter is distracting, making it more difficult for your buyer to imagine their own furnishings in your home. Clutter produces another problem – making rooms and closets look smaller. If your home is 1700 square feet, but appears closer to 1300, it's going to turn off many a buyer. Clean it up. Pack up the knickknacks, clean out closets and the pantry. The more space you clear out, the better your chances at that fast home sale. Don't neglect that dirty oven. Wash walls that are in need of this attention. You'd be amazed at how a sparkling clean appearance and a spacious feel will enhance the appearance of your home. Even in today's market, a fast home sale is not impossible. It's all a matter of making your home the best value in the neighborhood, eliminating as many sticking points and unforeseen delays up front. You win!
How to Sell Your Home Fast
Today's real estate market is an absolute mess. There are lots of people looking to unload their homes before they default on their mortgages and end up with foreclosed property. This is great for buyers, but not so good for sellers. Buyers have more choices and are in a better bargaining position, which means you've got to do more to attract their attention. Here are some tips that will help you sell your home fast. If you're thinking of selling right now, you need to make your house presentable to buyers. This might sound obvious, but you'd be surprised at the number of people who, because of the state of the market, anticipate the process taking a very long time. So they don't bother keeping up appearances, nor do they remove as much of their personal junk as they can. Take care of improvements such as painting and installing new carpeting now, and rent a storage unit for clutter from the basement and attic. The house needs to be in its best state right from the start. Another thing you should do in order to sell your home fast is pay for an expert real estate agent. A lot of folks balk at the prospect of paying commissions, so they try to handle everything themselves. This could be a big mistake, especially if closing quickly is your main goal. I once read somewhere that the top 10 percent of realtors handle approximately 90 percent of the transactions in their area, which is a huge number. So ask around, find out who the best is, and get that person working to sell your home fast. Including various financial incentives for the prospective buyer is another strategy to help sell your home fast. These incentives can include everything from paying all of the closing costs to paying property taxes for the first year or throwing in a year's worth of landscaping/lawn maintenance from a local firm. Extra touches like these can make a huge difference in a buyer's mind, so it could definitely be worth your while to sweeten the pot a bit. And finally, in order to sell your home fast, it might be necessary to drop the price way down. This is obviously not something that sellers like to hear, but knocking several thousand dollars off the asking price, you'll be making the property far more attractive to buyers. Ideally, you want to recoup every penny that your house is worth, but sacrificing on price could make all the difference between moving the property or letting it languish on the market for months and months. If you are trying to sell your home fast, then one or more of these strategies could help you get the results you need. Make sure you're prepared before you list, and then take all the steps necessary to close the deal!
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Monday, April 26, 2010
Considering All Offers
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Saturday, April 24, 2010
Sunday, April 18, 2010
New Luxury Patio Home - $80 sq ft
This beautiful 3746 sq ft patio home in a gated golf course community on the Buffalo Run golf
course located in NE Denver Colorado. See more at The Fairways at Buffalo Run!
Saturday, April 17, 2010
Friday, April 16, 2010
Thursday, April 15, 2010
Saturday, April 10, 2010
Friday, April 9, 2010
Thursday, April 8, 2010
Come to our Open House this Saturday
Big savings on this Cozy patio home in a gated golf community...... | ||||||||||||||||||||||||||||
My Other Listings
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Wednesday, April 7, 2010
Sunday, April 4, 2010
Quality Homes Vs Low Price Homes
No matter what you buy, you get what you pay for! Cars, food, office supplies and homes - no difference. Even though price doesn't necessarily equal quality, there is a lot to be said for quality for vs. Price when it comes to real estate pricing. Here are some tips on how to compare quality homes vs low price homes.
In today's economy, almost house in the U. S. Has been hit with a significant devaluation. It doesn't matter if the homeowner is upside down on his mortgage or not. All homes are worth about 25% less than two years ago.
And these are homes that are being maintained, lived in and paid for. What happens to homes that are foreclosed on and abandoned? These homes usually sell for pennies on the dollar for a number of reasons, and the most important one is that the homes have been vandalized. Frequently, the damage was done by the previous owner before being evicted.
This type of senseless vandalism brings the value down to a point where, on paper at least, many prospective buyers see this type of home as affordable and tend to focus on finding these properties to bid on.
However, even though these low priced properties might even be found in what is still considered desirable neighborhoods and developments, and the homes themselves may have originally been built with plenty of above average detailing and quality, they no longer in that classification. They are ruined.
These previously quality built homes are now going for some almost unrealistically low prices simply because they have been stripped of whatever worth they had by owners or even vandals who gained entrance to the homes while they stood vacant waiting to be sold again.
If buying a home in this condition isn't something that interests you, then you do need to focus on only homes that have retained their quality through the sales process. Normally, these homes will be found through private sales and perhaps short sales. Since these homes are usually still being lived in by the present owners you have a better chance of buying quality and getting a decent price based on today's market (and what lenders now view as the true value of the home).
Keep in mind that low priced homes might seem more affordable, but with all the damage you can expect to find, you should plan on spending thousands and thousands of dollars to get the property into a move in condition. This money needs to come from your own funds, not the bank. A few years ago you could roll this amount into the mortgage under the guise of a home equity loan or line of credit. These loans essentially do not exist any longer.
Rather than spending all your money to rehab a home where rehab work might be impossible to determine up front, it would actually be in your best interest to buy a quality home where there are few or no immediate repairs that need to be done.
In today's economy, almost house in the U. S. Has been hit with a significant devaluation. It doesn't matter if the homeowner is upside down on his mortgage or not. All homes are worth about 25% less than two years ago.
And these are homes that are being maintained, lived in and paid for. What happens to homes that are foreclosed on and abandoned? These homes usually sell for pennies on the dollar for a number of reasons, and the most important one is that the homes have been vandalized. Frequently, the damage was done by the previous owner before being evicted.
This type of senseless vandalism brings the value down to a point where, on paper at least, many prospective buyers see this type of home as affordable and tend to focus on finding these properties to bid on.
However, even though these low priced properties might even be found in what is still considered desirable neighborhoods and developments, and the homes themselves may have originally been built with plenty of above average detailing and quality, they no longer in that classification. They are ruined.
These previously quality built homes are now going for some almost unrealistically low prices simply because they have been stripped of whatever worth they had by owners or even vandals who gained entrance to the homes while they stood vacant waiting to be sold again.
If buying a home in this condition isn't something that interests you, then you do need to focus on only homes that have retained their quality through the sales process. Normally, these homes will be found through private sales and perhaps short sales. Since these homes are usually still being lived in by the present owners you have a better chance of buying quality and getting a decent price based on today's market (and what lenders now view as the true value of the home).
Keep in mind that low priced homes might seem more affordable, but with all the damage you can expect to find, you should plan on spending thousands and thousands of dollars to get the property into a move in condition. This money needs to come from your own funds, not the bank. A few years ago you could roll this amount into the mortgage under the guise of a home equity loan or line of credit. These loans essentially do not exist any longer.
Rather than spending all your money to rehab a home where rehab work might be impossible to determine up front, it would actually be in your best interest to buy a quality home where there are few or no immediate repairs that need to be done.
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