Archive for March, 2010
10 Staging Tips to Help Your Home Sell
March 24th, 2010 categories: Home Improvements and Design, Sellers
Get out the bucket, mop and Mr. Clean. The key to making a positive first impression is simple, said Sandra Rinomato, host of HGTV’s popular “Property Virgins” show.
“Get it clean, clean, clean,” said Rinomato. “If your house isn’t clean, it instantly sends up negative thoughts that the home is not well maintained. If your house is spotless, you’re ahead of the game,” she said.
But don’t stop there, advised Rinomato. To increase your chances of making a sale, “stage” the house to make it as attractive as possible. Until recently, “Staging meant pulling out all the stops- setting the dining table with your best china and crystal, arranging flowers, lighting candles,” she said. “Now we take the minimalist approach. Basically, you want to strip the house to its bare essentials, depersonalize it so potential buyers can superimpose themselves and their lifestyle on the house.”
Rinomato offered the following tips for staging a home:
1. Visit model homes and examine shelter magazines for inexpensive decorating ideas. Always keep in mind you are not decorating for yourself but for the general public.
2. Start with the outside. Give the house a fresh coat of paint, add shiny hardware to the front door and plant a few flowers to send a subliminal message the house is loved and well cared for.
3. Declutter every room to make it look larger. Get rid of family pictures, trophies and knickknacks. Closets and drawers should be no more than 30% full.
4. Invest in eco-friendly but bright lights. Open the drapes or remove them completely. “Light, bright rooms give the impression this is a happy place- and everyone wants to move into a happy place,” said Rinomato.
5. Feature only a few pieces of furniture with mainstream appeal. Pull pieces away from walls to make rooms look bigger.
6. Make sure a room’s primary use is obvious. A bedroom should look like a bedroom, not an office, hobby center or gym.
7. Bedrooms and kitchens are difficult to stage because they are in daily use, but make the effort. Clear everything off the counters and nightstands, roll up the rugs and hide the laundry hamper. Buff the cabinets with car wax and clean under the sinks. Invest in pristine white bed linens and towels.
8. Minimize the “pet effect.” Remove food bowls and litter boxes to the utility room. Deodorize thoroughly.
9. Organize the utility room and garage. Hang up the bicycles, roll up the hose. Renting a storage locker is worth the cost if it helps you sell faster and for a higher price.
10. Once your house is staged, invite your friends or Realtor over and walk them through to get an objective opinion.
Don’t forget to take before pictures! Feel free to call or email me to take a tour of your “staged” master piece. If you are thinking about selling your home we can discuss that as well.
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The Time to Buy is Now!
March 18th, 2010 categories: Buyers, Money and Mortgages, Real Estate News
No doubt, you’ve heard a lot of negative news about the real estate market lately that has caused you to put any thoughts of moving on hold. I can tell you that just the opposite is true. In fact, I can give you 3 great reasons to put your home purchase into motion:
1. The extension of the 2009 tax credit is approaching it’s deadline of April 30, 2010! This is the incentive for first-time home buyers to get a tax credit of $8,000. Previous home-owners can also take advantage of the $6500 repeat buyer credit too! (Provided they have lived in the property for 5 consecutive years out of the last 8 years)
2. Mortgage rates are still low! Federal Reserve policymakers recently pledged to keep rates low for an “extended period.”
3. Great inventory of homes being offered at the lowest prices in years! Many savvy home buyers are taking advantage of all these great incentives out there. They are taking the most desired and best-priced homes right off the market!
If you or someone you know has been considering purchasing a home; the time is now! Don’t hesitate to email me or call me with any questions you may have. Also visit my Facebook page and click on “Become a Fan.” I look forward to connecting with you!
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Looking to Buy a ‘Fixer-Upper’? The 203K Program Can Help Make it Happen
March 5th, 2010 categories: Buyers, Home Improvements and Design, Money and Mortgages, Real Estate News, Sellers
Today’s real estate market presents a lot of opportunity for interested home buyers- with the growing supply of foreclosure properties and short sales, there are certainly some great deals to be had.
The problem in buying a “distressed” property, however, it is that these homes are often damaged due to lack of maintenance or prolonged vacancy. So while the price tag might be right, the investment necessary to make the home livable might push buyers well beyond their budgets.
As a member of the Top 5 in Real Estate Network, however, I have access to the latest information on mortgage and financing options. One particular option that is providing hope for many of today’s home buyers is HUD’s FHA 203k program, a loan that enables buyers to not only secure a mortgage, but receive the funds necessary to improve the home as well.
Here are five facts about the 203K program to help you determine if it might be the right fit for you:
1. The FHA Section 203k program was originally introduced by HUD in 1978 as a program to rehabilitate and repair single-family homes. The 203k is a single mortgage loan that provides funds to purchase a home and make repairs and improvements. A simpler version, the Streamline 203k, was introduced in 2005. This version offers less documentation and lower loan fees for renovations that don’t exceed $35,000.
2. In today’s market, conventional financing, which often requires 20% – 25% down on a home and a perfect credit score, is often hard to come by. However, with less-than-perfect credit and as little as 3.5% down, you can get an FHA loan, such as the 203K
3. The 203k approval process is a little more complicated than a conventional loan. For example, you’re required to secure renovation costs from an established, licensed contractor and deliver a package of the proper paperwork to the lender to secure FHA approval. Make sure you work with an agent- like a member of Top 5- who is well versed in the 203k program, or who can connect you with a lender that is.
4. The 203k loan is not just for foreclosure or distressed properties. More than 80% of the homes in America were built before 1990- that’s over 100 million homes that are 20 years old or older- and almost everyone is in need of some amount of repair and updating. The 203k loan, therefore, offers advantages for almost any home purchase.
5. The 203k loan is not just for home purchases but can be used to finance a home improvement, as well!
For complete details on the HUD 203k program, you can visit www.fhainfo.com/fha203k. Please feel free to email me, too, since this information can be hard to digest and confusing. -Or you can also comment on this subject on my blog!
Also, visit our Facebook Page and click Become A Fan to follow up-to-date real estate news/tips.
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