Four Areas That Can Affect A Home's Curb Appeal

The housing market is making its recovery and there's a buzz of activity in our real estate office. Now may be the time to make the long awaited housing move. Whether you are buying, selling or updating a home here are some things to consider regarding a home's curb appeal.

A home's front entry is the focal point of curb appeal. In addition to making a statement a front door should reflect the home's interior. The entryway should have some style, updated light fixtures, a handsome entry door lockset, a wall mounted mailbox are elements that create a style.

Outdoor lighting can make a huge impact in the appeal of a home in addition to providing safety and security. Lighting can be used to illuminate a path, accent trees or landscaping.

Now is a good time to do some gardening, so create a new planting bed that will blossom in spring with lots of color and contrast. Fall is the time to plant bulbs they are e A seasonal

container garden adds a great deal of charm and warmth to a home. Create a garden around your mailbox for an inviting and cheerful look.  A tidy landscape is an indication of a homeowner cares for their home. So sellers, tidy up your yards by trimming hedges, edge around walkways and curbs, and add some annuals and fresh mulch to gardens. A flower box under a window or hanging off a porch railing can really be a welcoming feature.

One way to infuse a home with rich historical flavor lay in the details, such as molding, wainscoting, crown molding. Frame a window with molding or shutters then paint them with a contrasting color for emphasis. These details are a small investment and well worth the payoff.

Time For Your Home Inspection

So you’re on your way to buying a new home. You've reached a written purchase agreement with the home seller, so what is next? Your purchase agreement is most likely contingent on a home inspection, which is for your own protection. The purpose of the home inspection is to identify items of concern and safety issues. It is also to give buyers and sellers a better understanding of the home’s condition. An inspection will run about $400.00, however if it turns up an issue you may want to start another round of negotiations for the home. Or perhaps it changes your mind about the property, either way it could be the best $400.00 you ever spend.

The inspection will be performed by a trained professional. If you do not have one in mind your real estate agent will be able to recommend one for you. An inspector will look for issues in the home that may not have been visible when you viewed the home.  The general home inspection is based on the observations made on the date of the inspection, and not a prediction of future conditions. The home inspection will not reveal every issue that exists or ever could exist, but only those material defects observed on the date of the inspection.

An inspection includes:

1.  A thorough visual inspection of the structure inside and out, from foundation, crawl space, to roof.
   
2.  An examination of all major systems both mechanical and electrical. Everything from garage doors to fuse boxes.
3.  Evaluation of hundreds of components.
4. A printed report explaining all significant findings and recommendations.

The home inspection can take 2 to 3 hours. You are not required to be there, but you can if chose to do so. It may be to your advantage to be there so you can ask questions as the inspector reviews any issues they might find. It can also be educational to find out how the inspector determines what to look for. Once you have this knowledge as a home owner you will be able to identify any issues that may develop after you own the home. Do not be alarmed if the inspector finds some issues. No home is in perfect condition. If you are there with the inspector you can ask how serious an issue may be.

Below are some of the components a home inspection includes:

•   Roof
•   Gutters
•  Windows
  
•  Doors
•  Siding
• Trim
•  Grading
•  Driveway & Walkways
•  Decks & Patios
• Fireplaces Ceilings & Walls
• All Plumbing Elements
• All Electrical Elements
•  Foundation
• Framing
• Crawlspace
• Attic
• Hot Water Heater
•  HVAC

Demand is finally starting to catch up with supply and significantly fewer distressed properties weighing down the system. If your selling your home and want to be in the competition as the supply narrows, than you should know that a property’s curb appeal naturally makes a critical first impression. While most real estate professionals advise their clients to tend to the yard work, trim the trees, and put out a new welcome mat, there are some other opportunities to help sellers improve a home’s curb appeal. Real estate professionals call it ‘Staging’ and can offer some compelling ideas for sprucing up exteriors, here are a few extra ideas.

Front Door

A front door can be a home’s focal point. You want to repaint or even replace your door. Replacing a front door with a new steel door (which costs about $1,200) actually offers the biggest bang for the buck at resale. (An average of 73 percent of the cost may be recouped, according to Remodeling magazine). Here in Savannah there are many homes with wooden front doors, yours home may have one of them. If so, perhaps you may want to consider refinishing it. This would give your entryway a warm and inviting look. 

Windows

Wash them inside and out make sure all of the windows have screens. Try dressing up the windows with flower boxes. Check your shutters, do they need some repair, or repainting? If you are painting the shutters the trend is away from high contrast green, red, or black. More monochromatic palettes that blend with the rest of the house is what most buyers are looking for today. This goes for your front door as well.

Front Porch

Here in Savannah this is a critical first impression, and can be a key selling point, so don’t overlook this part of your home. Consider this additional square footage of living space, so stage it with as much care as you would the rest of your home. Add some rocking or Adirondack chairs or even a porch swing, with a side table for coffee and for writing up contracts. Add some potted flowering plants as well. You can get some great ideas for porches by driving through Ardsley Park, or Baldwin Park, or try the Victorian district where many homes have front porches that are often used by their residents.

After Dark

You can bet that home buyers will drive by your house in the evening to survey the neighborhood. Add some portable outdoor lamps along your walkway. Home centers sell solar lights for a very affordable price these days. Make sure your porch light is working and perhaps add a lamp on the porch if it is large enough to do so, and make sure to leave them on. The goal is to create a warm glow from the curb, making your home look cozy and inviting.

Sure To Sell

With these extra tips your home is sure to sell. If you are looking for some additional information on the process of selling your home try The Sellers Roadmap on our website.

Make Your Home Appealing to Buyers

As you start to gather up your belongings and pack them away for your move, many sellers question which items they should leave out for buyer appeal. Often the wrong items are left on display; things like family photos, personal keepsakes, and treasured belongings. All of these items should be safely packed away which very often creates open space (a plus for buyers) on shelves, refrigerator doors, and desktops.

Buyers often make a decision within just seconds of seeing your home about whether or not they want to buy it. So picture your home through the eyes of your potential buyers. What do you see in about 10 seconds? When you walk up do you see children’s toys scattered across the front lawn. Do you see overgrown shrubs and weeds? Do you see chipped paint on the front door, a screen that’s torn? Do you spot oil spills on the driveway?

Even answering yes to just one or two of those questions can be damaging and that’s before your potential buyer has entered your home. Sometimes, those seconds are all the buyers need to decide to simply do a "drive by" and not even stop to go inside.

Of course, the goal is to get the buyers inside. To get them to spend time, feel like your home could be their home. But even though that goal is so widespread and common among sellers, somehow the decisions some sellers make are almost completely polar to the goals.

Let’s look at five tips that can make your home appealing to buyers.

1. Something simple like fixing a screen is often overlooked by a seller because it is so simple, yet, just seconds of seeing the ripped screen can cause a negative impact for buyers.
2. Adjust the artwork in your house to be non-personal. No family pictures! Buyers get distracted.
3. Make the kitchen a focal point. Winning over buyers with an appealing kitchen can often convince them that they must have the home.
4. Put the "ah" in the bedroom. The bedroom needs to look like a bedroom. Sounds funny, but many people use their bedroom for other things such as an office or storage.
5. If there isn’t much space, clear the clutter out. Remove excess furniture. It doesn’t matter if you use it. You can walk to another room to get what you need if it means you sell the home faster because it now looks more inviting and spacious.

Making your home more appealing is about seeing your home through the eyes of your potential buyers. When it comes time to go over the offers, you’ll be glad you did.

Home Staging Tips

Let's change the sign in your yard from For Sale to Sold!

Show Your House in the Best Light
When a buyer walks into a nice bright room, they feel happy. And you know what happy buyers do? They make offers! Turn on all lamps and lights to the brightest setting. If you have a 3-way light bulb turn it to the highest watt. All lamps should have at least 100 watt bulbs in them. Remove heavy curtains to let the natural light in.

Create Space in Your Home
Get your furniture off the floor by removing all skirts. Showing the legs of furniture will visually make the room appear larger. Using neutral colors in paint and décor will make rooms seem larger. Add crown molding. It will make the rooms flow and expand the space. Ceiling fans should be the same color as the ceiling as it will make the ceilings seem higher. A darker fan will make the ceiling appear lower. Area rugs need to be proportional to the room size. A large room needs a large rug because a small rug will make the room seem smaller.

Make Your House a Home
Adding plants is a great way to add life to a room, but only if the plants are lush and full. Any old and dreary plants need to be replaced with new ones.

De-Clutter
Removing clutter doesn’t just apply to things on the floor. If you have a lot of pictures, decorative plates, etc. group them on one wall as a focal point and free up wall space. Pots hanging in the kitchen area are a bad idea as it makes the room/ceiling seem smaller and cluttered. Remove items from your kitchen counters like cutting boards, fruit baskets, etc. Also get rid of things in the sink area. No potential buyer wants to see your dirty dish sponge! Buyers will open your drawers and cabinets; clean them out so they can see the space instead of your junk. Buyers associate messy drawers and closets with a poorly maintained home.

Showcase Your Home’s Exterior in its Prime
If selling your home in the winter, make a photo album with photos of the exterior in the springtime

Upgrade the Kitchen
Buyers don’t give you the courtesy of saying they want a new appliance, they simply don’t make an offer on your house. The smartest thing you can do is make your kitchen look fresh and bright. Refrigerator is the least expensive appliance to upgrade and it will make the most impact.

Staging your home is necessary in this competitive market. You want your home to stand out in potential buyers minds as a place they could see themselves living in, not a house that needs work. The effort you put in to making your home look as perfect as possible will be worth the effort.

Want Your House Sold? Talk to Me.

When I agree to list a house for sale, there are many elements that we (the seller and my team) address prior to entering the market. Price, any disrepair and the appearance are a few of the most important ones. It has been my experience that once I get a stager into the house to help the homeowner de-clutter and de-personalize, the house shows much better. So with all these elements in place and a proper price agreed upon, it is then and only then that my sign goes up in the yard.


How I present this listing to the public is what is going to help sell it. So, then the photographer comes in. In today’s market it is said that the vast majority of Buyers are first introduced to their home on the internet. How my listing is presented on the many websites I have affiliation with is of utmost importance to me. I want clear, crisp, uncluttered images. I like to be able to see what is outside the window in addition to what’s in the room. The house needs to be presented so any Buyer can envision themselves living there.

I like to tell sellers don't get taken out of the game before the game starts. What we mean by that, is you shouldn't give buyers a reason to discount your home, before they even get a chance to see it. Recently, I was working with a buyer, who assumed a home wasn't very nice, because the Multiple Listing Service (MLS) report only contained a few pictures. As real estate brokers, we can talk until we're blue in the face about the need to give consumers lots of photos, but we constantly see listings that don't show many.

The Savannah MLS recently adjusted the amount of images an agent can upload from 12 to 25. I am so excited about this that I could just bust. I pay for prominent placement and the ability to add additional images on many affiliate websites I market homes for sale on. I do this because I know the public wants to know what they are looking at before ever getting into a house. I would never want one of my listings to be over looked because it wasn’t presented to the public in the most positive light possible.

The next time you are looking at Real Estate for Sale, ask yourself before dismissing a house, "Is it really not a good property for me or did the Realtor not do the best job possible presenting it?" If it is my listing, I expect you will be impressed or I didn’t do my job properly.

Attention Sellers: Why Staging Matters

We highly recommend a professional staging consultation for each of our listings. Watch this video to learn why this small investment in your home yields big results.

So you say you want to Sell your house?

If you are serious about selling your house…follow the instruction!!!
In today’s market ALL elements should be considered when putting your house up for sale. Be certain to hire a good Realtor. One that is not afraid to tell you what it will take to have a successful sale.
The location, style and size are a few elements you cannot change too easily.
However, below are some components of a successful sale that MUST be addressed in today’s market to compete with the increased inventory without having to “give the house away”
• Price: Have your Realtor do an evaluation and price your house properly. Be certain he or she is familiar with home sales in your community. If you are not sure, get an appraisal. How much you want or need for your house has nothing to do with what your house is worth.
• Condition: Whether you choose to have a pre-listing inspection of your house or simply do a walk through with your Realtor, you must address any and all disrepair or distractions (stains on the walls, discolored entry doors, clumsy plantings etc.)
• Appearance: A professional Stager is necessary! The cost is minimal considering the benefit they offer in the home sale process. Be prepare to pack away some of your belongings (you are going to be moving if you do this right). Remove your emotions for just a moment and trust in the process. Do everything that is recommended!
This is a business transaction. Take it seriously. Your house will sell and you will be able to move on with your life! Good luck!

To sell your home in Savannah or for any Real Estate needs in Savannah visit my website www.DonCallahan.com or contact me 912-441-4416

5 Things Home Buyers Do That Turn Sellers Off (and Kill Deals)

by Tara-Nicholle Nelson

Trulia.com

On today’s market, every savvy seller wants to know what turns buyers off, so they can get their homes sold as quickly as possible, for as much as possible. But buyers, take note – there is a minefield of seller turn-offs you can trigger that hold the potential to keep you from getting the home you want at the best price and terms, or to unnecessarily complicate dealings with your home’s seller.


Lest you think all of today’s sellers are under the gun and will just put up with whatever behavior buyers dish out, be aware that there are still many multiple offer situations in which buyers have to compete with each other to get a home – buyers who trigger these turnoffs tend to lose in those scenarios. Also, avoiding these seller turnoffs can create a transactional environment of cooperation and avoid things turning adversarial. That, in turn, can empower you to score a better price, get extra items you want thrown into the deal, and even negotiate more flexibility around your escrow and move-in timelines – all perks that can make your life easier and your budget go further. For sellers, these turnoffs pose the potential of irritating you out of an otherwise good deal – maybe even the only deal you have! Here’s a few of the most common buyer-perpetuated seller turnoffs, with tips for sellers on how to keep an emotional (and economic) even keel, even if your home’s buyer makes some of these waves:


1. Trash-talking. Trash-talkers are the home buyers who think they’re going to negotiate the list price down by slamming the house, telling the sellers how little it is really worth, how the house across the street sold for nothing, why the school on the corner should make them desperate to give the place away, etc. This strategy never works; in fact, when you attack a seller and their home, you only cause them to be defensive, and think up all the reasons that (a) their home is not what you say it is, and (b) they shouldn’t sell their home to you! Sometimes this happens with buyers who actually love a house and just walk around it fantasizing about all the ways they would customize it to their tastes while a seller is there.


Sellers: avoid being at home while your home is being shown. Buyers: save your commentary for your agent; if you do encounter the seller in person keep your conversation respectful and avoid critiquing the house or the list price.


2. Being unqualified for mortgage financing. When a seller signs a buyer’s offer, most often the seller agrees to effectively pull the home off the market, forgoing other buyers who might be interested. As such, the only thing worse than getting no offers on your home is getting an offer, getting into contract, then having the whole thing fall apart when the buyer’s loan falls through – especially if that could have been predicted or avoided up front.


Sellers: Work with your agent to vet your home’s buyers’ qualifications, including their loan approval, down payment and earnest money deposit – before you sign a contract. It’s not overkill for your agent to call the buyers’ mortgage pro before you sign the contract and get a level of comfort for how robust their qualifications are. Buyers: Get pre-approved. Seriously. And make sure that you don’t buy a car, quit your job, deposit lottery winnings or do any other financial twitchery between the time you get loan approval and the time you close escrow on your home.


3. Making unjustified lowball offers. No one likes to feel like they are being taken advantage of. And sellers generally know the ballpark amount that their home is worth, as well as what they need to sell it for to get their mortgage paid off. Yes – the price you pay for a home should be driven by its fair market value, rather than the seller’s financial needs, and deals are more available in a market like the current one, in which supply so vastly outpaces demand. But just throwing uber-lowball offers out at sellers hoping one will hit the spot is not generally a successful strategy, especially if you really, really want a given property.


Sellers: Don’t get overly emotional about receiving a lowball offer; counter at the price you and your agent decide makes sense based on the total circumstances, including your motivation level, recent comps and the interest/activity level your listing is receiving. Buyers: Work through the similar, nearby homes that have recently sold (a/k/a comparables) before you make an offer to factor the home’s fair market value into your offer price – also factor in how much you want the place, too. Don’t be amazed if you make an offer far below asking, and don’t get a response.


4. Renegotiating mid-stream. Sellers plan their finances, moves and - to some extent – their lives around the purchase price a buyer agrees to pay for their home. If you get into contract to buy a home, find out during inspections that costly repairs need to be made, then propose a lower sale price, repair credit or even actual repairs to the seller, that’s sensible and fair. But if you were aware that the property needed a lot of work before you made an offer on it, then you come back asking for beaucoup bucks’ worth of credit or price reductions midstream, expect the seller to cry foul. And holding the seller up two weeks into the transaction because you caught a case of buyer's remorse? Not cool, and not likely to foster the spirit of cooperation you may need to get your deal closed.


Sellers: avoid mid-stream price renegotiations by having a full set of inspection reports and repair bids at hand when you list your home. Buyers: try to avoid renegotiating the entire deal unless you get some major surprises at your inspections or inflating small repairs to try to justify a major price cut.


5. Misleading or setting the seller up. Remember when we talked about buyer turn-offs? Being misled by listing photos or very fluffy property descriptions was high on the list. The same goes for sellers.Offering way over asking with the plan to hammer the seller for a reduction when the house doesn’t appraise at the purchase price? #LAME Making an as-is offer planning the whole time to come back and ask for every penny ante repair called out by the inspectors? Lame squared.


Sellers: If you get multiple offers and are tempted to take a sky-high one or one that claims to be all cash, consider requesting proof that the buyer has sufficient funds to make up the difference between what you think the home will appraise for and the actual sale price, and statements showing the cash truly exists. Buyers: Don’t be lame. I’m not saying you have to tell the seller exactly what your top dollar is, but making offers with terms designed to intentionally mislead is really, really bad form – and can result in losing the home entirely if and when your bluff gets called.


View original article: http://www.trulia.com/blog/taranelson/2011/03/5_things_buyers_do_that_turn_sellers_off_and_kill_deals?ecampaign=anews&eurl=www.trulia.com%2Fblog%2Ftaranelson%2F2011%2F03%2F5_things_buyers_do_that_turn_sellers_off_and_kill_deals

Do you really want to sell your house?

For those who believe everything they hear in the media and think that the housing market is at a complete stand still, I have some news. There are many homes that are selling, and selling quickly. They simply fit into one of two categories.

They are:

Well-presented, or Very well-priced.

Or, preferably - both.

Some of my buyer clients have recently run into extremely competitive sit­uations resulting in multiple offer scenarios. I have found myself resorting back to techniques that were used during the boom periods to have their offers brought to the top of the pile. These include writing letters defining their current and past employment situations, and descriptions of exactly - what nice families they are.

What is causing this type of competition in a down market?

These are basically sellers who have smart Realtors® and they are taking their advice. Before the home is put in the market, the agent goes through the property and points out areas that need improvement. As a result:

-- Interiors are getting a fresh coat of paint. -- The home is immaculately cleaned. -- Any deferred maintenance is immediately taken care of. -- Repairs are being made. -- Out-of-date décor such as flowered wall paper is being removed. -- New kitchen counters are being installed. -- The exterior is repainted, in necessary. -- But most importantly, the home is priced correctly.

Perfect homes, of course are not the only houses that are selling. Foreclosures, estate sales and properties that need freshening but do not have the resources to do so are also sometimes generating multiple offers. The key is - they must be priced to sell.

The message here is that, even in this difficult market, there are houses that are coming on and selling on the first day they are listed. The secret - and this should not be much of a secret - is: Listen to your Realtor®!

Copyright 2011 "What Types of Homes are Selling Right Now? Perfect Ones!" Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230

5 Mortgage and Foreclosure Myths

Here's a great article from Trulia blogger Tara-Nicholle Nelson on 5 mortgage and foreclosure myths. If you're facing a major decision regarding your home, remember to turn to the experts. For real estate advice contact us today to discuss your situation. Looking into a short sale on your home? Visit http://www.shortsalesinsavannah.net/ to explore your options. Just thinking about refinancing? Visit the Concierge page of DonCallahan.com for a list of local lenders.
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In a mortgage market that changes as quickly as this one, today’s fact is tomorrow’s fiction. For buyers, misinformation can be the difference between qualifying for a home loan or not. Sellers and owners, knowledge is foreclosure-preventing, smart decision-making power! Without further ado, let’s correct some common mortgage misconceptions.

1. Myth: Buyers with bad credit can’t qualify for home loans. Obviously, mortgage guidelines have tightened up, big time, since the housing bubble burst, and they seem likely to tighten even further over the long-term. But just this moment, they have relaxed a bit. In the last couple of weeks, two of the nation’s largest lenders of FHA loans announced that they’ve dropped the minimum FICO score guideline from 620 (which allows for some credit imperfections) to 580, which is actually a fairly low score.

At a FICO score of 620, buyers can qualify for FHA loans at many lenders with only 3.5 percent down. With a score of 580, the lenders are looking for more like 5 to 10 percent down – they want to see you put more of your own skin in the game, and the higher down payment lowers the risk that you’ll default. However, if your credit has taken a recessionary hit, like that of so many Americans, this might create a glimmer of hope that you’ll be able to take advantage of low prices and interest rates without needing years of credit repair.

2. Myth: The Mortgage Interest Deduction isn’t long for this world. Homeowners saved over $85 billion in 2008 by deducting their mortgage interest on their income tax returns. A few months ago, the National Commission on Fiscal Responsibility and Reform caused a massive wave of fear to ripple throughout the world of real estate consumers and professionals when they recommended Mortgage Interest Deduction (MID) reform, which would dramatically reduce the size of the deduction.

Fact is, the Commission made a sweeping set of deficit-busting recommendations to Congress, a few of which are likely to be adopted. Fortunately for buyers and sellers, MID reform is not one of them. Very powerful industry groups and economists have been working with Congress to plead the case that MID reform any time in the near future would only handicap the housing recovery. Congress-folk aren’t interested in stopping the stabilization of the real estate market. As such, the MID is nearly universally thought of as safe – even by those who disagree that it should be.

3. Myth: It’s just a matter of time before loan guidelines loosen up. The US Treasury Department recently recommended the elimination of mortgage industry giants Fannie Mae and Freddie Mac. I won’t get into the eye-glazing details of it here, but the long and the short is that (a) this is highly likely to happen, and (b) it will make mortgage loans much harder and costlier to get, for both buyers and homeowners. It’s possible that loans are as easy to get as they’re going to get. So don’t expect that if you hold out, zero-down mortgages will come back into vogue anytime soon. Fortunately, Fannie and Freddie aren't likely to disappear for another 5-7 years, so you have a little time to pull your down payment and credit together. If you want to get into the market, the time to get yourself ready is now!

4. Myth: If you don’t have equity, you can’t refi. Much ado is being made about how stuck so many people are in their bad loans, because they don’t have the equity to refinance their way out of them. If you’re severely upside down (meaning you own much, much more than your home is worth), stuck may be the situation. But there are actually a couple of ways homeowners can refi their underwater home loans. If your loan is held by Fannie or Freddie (which you can find out, here), they will actually refinance it up to 125% of its current value, assuming you otherwise qualify for the loan. That means, if your home is worth $100,000, you could refinance a loan up to $125,000, despite the fact that your home can’t secure the full amount of the loan.

If your loan is not owned by Fannie or Freddie, you might be a candidate for the FHA “Short Refi” program. While most mortgage workout plans are only available to people who are behind on their loans, the Short Refi program is only available to homeowners who are current on their mortgages and need to refinance up to 115 percent of their homes’ value. So, if you owe $250,000 on your home, you can refinance via an FHA Short Refi even if your home’s value is as low as $217,000. If you think you’re a good candidate for a short refi, contact your mortgage broker, stat – there are some in Congress who think that this program is so underutilized (only 245 applications have been submitted since it rolled out in September – no typo!) that its funding should be diverted to other needy programs.

5. Myth: If you’ve lost your job and can’t make your mortgage payment, you might as well mail your keys in. Until recently, this was essentially true – virtually every loan modification and refinancing opportunity required that your economic hardship be over before you could qualify. And documenting income has always been high on the requirements checklist. But there are some new funds available in the states with the hardest hit housing and job markets, which have been designated specifically for out-of-work homeowners.

The US Treasury Department’s Hardest Hit Fund allocated $7.6 billion to the states listed below – all of which are now using some portion of these funds to offer up to $3,000 per month for up to 36 months in mortgage payment assistance to help unemployed homeowners avoid foreclosure. Contact the state agency listed below if you need this sort of help:

•Georgia: http://www.dca.state.ga.us/housing/homeownership/programs/hardesthitfund.asp


View original article here:http://www.trulia.com/blog/taranelson/2011/03/5_mortgage_and_foreclosure_myths?ecampaign=anews&eurl=www.trulia.com%2Fblog%2Ftaranelson%2F2011%2F03%2F5_mortgage_and_foreclosure_myths

Ardsley Park Bungalow - Sold in 56 Days!

After being on the market with a different Realtor, Andrew and Teri decided to call Don to sell their house. The result: 56 days later and we were under contract!

6 Reasons to Reduce Your Home Price

By: G. M. Filisko
Published: March 19, 2010
Article from HouseLogic.com

While you'd like to get the best price for your home, consider our six reasons to reduce your home price.

These six signs may be telling you it’s time to lower your price.

1. You’re drawing few lookers
You get the most interest in your home right after you put it on the market because buyers want to catch a great new home before anybody else takes it. If your real estate agent reports there have been fewer buyers calling about and asking to tour your home than there have been for other homes in your area, that may be a sign buyers think it’s overpriced and are waiting for the price to fall before viewing it.

2. You’re drawing lots of lookers but have no offers
If you’ve had 30 sets of potential buyers come through your home and not a single one has made an offer, something is off. What are other agents telling your agent about your home? An overly high price may be discouraging buyers from making an offer.

3. Your home’s been on the market longer than similar homes
Ask your real estate agent about the average number of days it takes to sell a home in your market. If the answer is 30 and you’re pushing 45, your price may be affecting buyer interest. When a home sits on the market, buyers can begin to wonder if there’s something wrong with it, which can delay a sale even further. At least consider lowering your asking price.

4. You have a deadline
If you’ve got to sell soon because of a job transfer or you’ve already purchased another home, it may be necessary to generate buyer interest by dropping your price so your home is a little lower priced than comparable homes in your area. Remember: It’s not how much money you need that determines the sale price of your home, it’s how much money a buyer is willing to spend.

5. You can’t make upgrades
Maybe you’re plum out of cash and don’t have the funds to put fresh paint on the walls, clean the carpets, and add curb appeal. But the feedback your agent is reporting from buyers is that your home isn’t as well-appointed as similarly priced homes. When your home has been on the market longer than comparable homes in better condition, it’s time to accept that buyers expect to pay less for a home that doesn’t show as well as others.

6. The competition has changed
If weeks go by with no offers, continue to check out the competition. What have comparable homes sold for and what's still on the market? What new listings have been added since you listed your home for sale? If comparable home sales or new listings show your price is too steep, consider a price reduction.

Three Tips for Selling

Check out this short video from Keller Williams Realty: "3 Tips for Selling." Be sure to visit the Sellers Page of DonCallahan.com for additional resources.

Drama-Free Real Estate: Seller Tip #8

By Tara-Nicholle Nelson, FrontDoor.com Published: 4/14/2009

#8: Get a real estate market reality check. (And kiss fantasyland goodbye.)Walk a mile in the shoes of a prospective buyer for your home. They are out there. And they are well-educated. Today's qualified homebuyers have every piece of data about home prices and sales trends in your neighborhood. They are willing to pay a fair price, but they know how to formulate a fair offer to a degree that previous generations of buyers have never had the ability to do. All the info is just a few keystrokes away! And they have an incredible level of house hunting stamina from having seen so many foreclosed homes with abandoned remodeling projects and ripped out plumbing.

Clueless is as clueless does. So, a buyer is doing their nightly obsessive scouring of the Web listings of homes for sale in their price range in your town, and your listing comes up. What will their first response be? Do they think it's a serious prospect they should mull over? Do they instantly autodial their Realtor to set a first-thing-in-the-morning appointment to see your place? Or do they grab their sides as they roll on the floor in hysterical laughter, wondering what planet the seller is from to think someone would pay that for that place?

Long story short: clueless is a very bad look for a home seller. It's the easiest route to getting lowball offers or no offers at all. In a market like this, you might wish desperately that your home was worth more than it actually is. But check yourself -- wishing it were so doesn't make it so. If you're selling now, you probably really want or need to, so get over yourself and get clued into the realities of your market if you want to get it sold.

When on the Web, do as Web buyers do. Before you ever list your home with a Realtor, spend some time on FrontDoor.com perusing MLS listings the way a prospective buyer would. Check out the other listings in your neighborhood, and do an honest mental comparison of their homes to yours. This will start to give you a reality check on prices and price ranges. Then visit a site like Cyberhomes.com and type in your address to get an estimated value. It will show you the actual sales prices from nearby similar homes that have closed escrow, so you can begin to appreciate the difference between list price and sales price in your area.

Experience the competition, live and in person. Once you are familiar with recent sales prices and you've hired a Realtor, get up close and personal with your competition. Stroll through a few open houses and see what your house is up against, in terms of condition and staging. Then ask your Realtor to analyze the competing listings on the basis of how many days the active, pending and recently sold MLS listings in your area have been on the market. That way, you'll know up front which price points get quick buyer interest and about how long you should wait for an offer before you reduce your price.

Now, get real! Remember that the same buyers who come to see your place will have seen the other active listings too. So price or prep your place to be more attractive than the others. You will eliminate the clueless factor and get buyers to take you seriously when you get a real estate reality check, and let the data drive a fact-based pricing and property preparation strategy.

Do You Know a Homeowner Facing Foreclosure? Here’s A Way Out.

Headlines today are filled with stories about homeowners in financial distress—people who face a lender’s foreclosure on their home.

Millions of American home owners are wondering what to do.

Like most crises, this one has produced its share of rumors and misinformation. One of the biggest ones is “just let it happen." Why fight back, this line of thinking goes. It’s too emotionally draining, and the government’s loan modifications aren’t helping many people. Well, that’s only partly true.
While government loan modification programs have fallen short of the mark so far, there is another solid, sensible option for homeowners. It’s called a short sale—a sale to a buyer where the seller’s lender agrees to accept less than the full amount owned.

Why not be foreclosed? Why sell short? Agents who have closed hundreds of these transactions provide this list of reasons:

• Avoid the foreclosure stigma – Homeowners will always have to disclose that they had a foreclosure on any mortgage application and (many job applications) that they submit in the future. This can have an adverse affect on their future mortgage rates. Foreclosure is asked about specifically in credit inquiries. There is no seven-year time limit on this item.

• Protect credit score – Credit scores will be lowered by 300-plus points (per loan) by foreclosure. The impact of a short sale—about half that much.

• Improve eligibility for a government insured loan – The homeowner will be ineligible for a government insured loan for 5-7 years (only two years in a short sale). A foreclosure is the one credit report item that is almost impossible to have repaired.

• Avoid a deficiency judgment – Lenders can seek a deficiency judgment against the homeowner and collect any amount they do not recover at sale.

• Protect employment prospects – Many employers run credit checks on prospective employees. Foreclosure is one of the top items that will put a potential new hire, or even current employment, in jeopardy.

These are the top reasons, but there are more. An expert short sale specialist agent can give a full picture of the options.

One more tip. Don’t believe everything you read about how long short sales take and how few get finalized. Short sale timelines, while still longer than normal, are shrinking as lenders get their paperwork act together. I am a top short sale agents in your market. I know where to find buyers, and how to negotiate the buyer’s offer effectively with lenders and get the deal closed—so the homeowner can move on with life and recover.

Drama-Free Real Estate: Seller Tip #9

By Tara-Nicholle Nelson, FrontDoor.com

#9: Differentiate your home from the competition.
Between the short sale next door and the foreclosure down the street, it's very tough to demand top dollar for your home when buyers have so many bargains to choose from.

Let's get one thing straight -- this is a competition. When a buyer sees your home, they are choosing between your house and the others on the market in their price range. The home they choose is the winner.

So, how can you spank your home's competition, real estate-style?

Make your house the place to be. Short sales and foreclosures are notorious for skimping on the marketing. So go all out to get neighbors and buyers into your home and talking about it by having an Open House party that highlights the best lifestyle features of your property. If your home has ocean views, throw a twilight cocktail party. If it's a great family home in the best school district in town, have hot dogs, a bounce house and face-painting. Be a little over-the-top, and have your Realtor invite the neighbors and the local buyers' brokers.

Take your staging to the next level. When I show foreclosures to my clients, I generally keep a vat of hand sanitizer in the car and pass it around between properties; that's just how filthy they can be. You can set your house totally apart from the bargain-basement priced competition by making sure it is only shown in immaculate condition. Bathrooms, kitchens, walls and floors should be pristine, and if you can swing new chic paint and flooring choices, that's even better. Stage it with tasteful furnishings and decor that depict the uncluttered, space-maximizing life every buyer wishes they could live, even if it means you have to move out in the meantime!

Use incentives to buy some house hunter love. Any expensive lifestyle amenities that you can leave behind, especially house hunter faves like stainless steel appliances and fireplace-mounted plasma TVs, make good buyer incentives your Realtor can tout in your home's marketing. I've even seen sellers offer to park a new Prius in the garage at closing, you know, so that the new buyer can save on gas to afford their new mortgage! (Do check with your Realtor regarding incentive strategies; some items might not be allowed by the buyer's bank.)

Make your place easier to buy than a short sale or foreclosure. Every homebuyer on the market today knows that doing a deal with the bank can be, how shall we say, less than fun and less than fast. Okay, it can be slow and painful. So, your home's marketing should let the world know that buying your place will be a smooth, easy deal. If you are in the position to offer any seller-financing or other creative deal structures, like a lease-purchase option, even better -- you've just expanded the pool of folks who can qualify to buy your home!

For more drama-free real estate from FrontDoor.com visit http://www.frontdoor.com/sell/Drama-Free-Real-Estate-Guide-Tips-and-Advice-for-Savvy-Home-Buying-Selling-and-Financing-Without-the-Stress/55034

Drama-Free Real Estate: Seller Tip #10

By Tara-Nicholle Nelson, FrontDoor.com

#10: Know your power. Understand what you can do to get your home sold, fast and at top dollar.

So much of the drama of selling a home is the sense of helplessness. It can feel like you're at the whim of the market, prospective buyers and even your local force of Realtors!

Not so -- in fact, you have a huge amount of power to control the outcome of your home selling experience. You actually make the decisions that have the most impact on whether your home sells, how fast it sells and what price you get for it.

It's all about the Benjamins. You and only you get to set the price, and the price is the single most important determinant of how fast and for how much your home sells. Now, look -- you know good and darn well from your own shopping experience -- both real estate and retail -- that a bargain-priced product catches your eye much more quickly than a regular priced product. Everyone wants a deal, so if you want your home to sell quickly, either price it lower than the similar houses on the market or make sure it is tricked out in features that buyers care about to warrant a premium price. The more buyers you lure into your house, statistically-speaking, the higher the price you'll get for it. If you price your home low, you'll get more buyers in it and maybe even get multiple offers. Yep, it happens -- even in this market, but it usually happens to great homes listed at low prices.

Conditional love. You get to choose what you are putting on the market: a contractor's special, a cosmetic fixer or a Pottery Barn-chic casa in move-in condition. If your home is in really bad shape, it's probably not cost- or time-effective to fix it for sale. But if it has one major issue that you can afford to fix, like replacing the roof or trading out the rotten windows with dual-paned, it might just be worth the effort. Talk to your Realtor first about how the repair might get you more money or help you get the place sold at all!

If your home has lots of little handyman projects that need to be fixed -- a hinky bathroom exhaust fan that sounds like a lawnmower; scuff-marked walls; or grungy, old-school cabinet hardware -- get them done! Homes that are almost "there" are the easiest ones to get some big upside out of a good sprucing up. But do interface with your Realtor on this, and coordinate your spruce up with her staging strategy.

To market, to market. You control how your home is marketed, because you pick your listing agent! Be smart and pick one with a strong marketing plan that has demonstrated success attracting buyers in your area. And don't ever mentally check out of the marketing process. Until your home is sold, go online periodically and have a look-see at how your home is being presented to web-surfing house hunters. If you don't like what you see, take it up with your Realtor. They aim to please and will usually work with you to tweak your home's marketing pieces till they reflect your home in as good a light as possible without using pics of someone else's house!

See, you have a lot more power over the sale of your home than you thought. Wield it wisely!

Top 10 Home Selling Mistakes That Can Cost You

Avoid these common slipups to sell your home fast and for top dollar
By Shannon Petrie, FrontDoor.com Published: 8/20/2009

Mistake #10: Waiting until spring to sell
Sure, spring is traditionally the busiest time for real estate sales, but people buy homes 365 days a year. Plus, off-peak season buyers tend to be more serious, and fewer homes on the market means less competition for sellers.

Don't be daunted by the thought of selling during the summer, winter or fall. Instead, draw in buyers by playing up your home's seasonal amenities.

Mistake #9: Not understanding the terms of your real estate contract
Real estate contracts can be complex and confusing, but don't let the fine print scare you. Before accepting a buyer's offer and entering into a formal agreement, review the contract carefully with your real estate agent or attorney.

Understand the buyer's requests and know what your responsibilities are as a seller. Can the home be sold as-is, or do you have to make repairs? What's included in the sale (i.e., appliances, furniture, fixtures)? What contingencies are included?

Mistake #8: Going it alone without researching first
Faced with the prospect of forking over a hefty sales commission, you may find the FSBO route pretty tempting. But remember, selling a home sans real estate agent means dealing with mounds of paperwork, marketing and showings.

Before you sell your home by yourself, do your research to make sure you're up for the task. At the very least, you may want to hire a real estate attorney to look over the details of the deal.

Mistake #7: Ignoring lowball offers
Many home sellers in today's market need a reality check. Just because your neighbor sold for X amount five years ago, things have changed, and you can't expect to get the same amount for your home today.

If you receive an offer you think is too low, repress the impulse to feel insulted and reject the offer completely. Instead, make a counteroffer and see if the buyer is willing to negotiate. You may be able to settle on a price -- and terms -- that you're both satisfied with.

Mistake #6: Wasting time on an unqualified buyer
Today's mortgage borrowers face stricter lending standards, so it's crucial you check out the potential buyer's qualifications. The last thing you want is a buyer whose financing falls through mere days before closing.

Before accepting an offer, make sure the buyer has been pre-approved for a loan, not just pre-qualified. Also, don't compare offers based solely on price: A buyer who is putting 20 percent down is more likely to close than someone scraping in at the 3.5 percent minimum.

TIP: Protect yourself by having a backup offer or two in place. That way, you won't have to put your house back on the market if the first buyer fails to close.

Mistake #5: Skimping on marketing
In the past, an ad in the paper and a sign in the front yard might have led to a successful home sale. But today, you'll need a broader marketing strategy if you want buyers to notice your home.

Ninety percent of today's buyers start their home searches on the Web, so it's important to have an impressive online listing with plenty of high-quality photos and video. The more exposure your home gets, the better, so don't limit yourself when it comes to marketing. Pairing traditional advertising techniques with innovative methods is the most effective strategy.

Mistake #4: Sabotaging the showing
When touring a house for sale, buyers need to be able to focus, evaluate and determine if the home is right for them. The last thing they need is an overeager seller following them around and pointing out new kitchen appliances and recently renovated bathrooms. So give buyers some space!

During an open house or home tour, take a drive or a walk around the neighborhood, or confine yourself to one room if you absolutely have to stay home.

Also, give buyers enough access to see your home. An hour during the week and a Sunday Open House may not accommodate many buyers' schedules. Consider extending your showing hours or using a lockbox so agents can access the house when you're not available.

Mistake #3: Not prepping your home for sale
With the huge inventory of homes on the market, today's homebuyer can afford to be choosy. That means you've got a lot of competition and limited attention, so a clean, uncluttered and updated home is a must.

Depending on your budget and time frame, you'll either want to make simple fixes (repairing things that are broken or giving your walls a fresh coat of paint) or invest in large upgrades (new kitchen counters or new windows).

Once you've made fixes and upgrades, you must clean, clean, clean. Dirty homes get lowball offers or none at all. Staging, the process of de-cluttering and dressing up your home to make it appealing to buyers, is also key.

Before you begin your pre-sale preparation, visit open houses in your neighborhood to get a feel for your competition. This will give you an idea of what improvements will be necessary to put your home in the same league as others in the area.

Mistake #2: Over-improving
It's easy to get caught up in a home improvement project, especially if you think it'll add value to your home. But be careful that you don't over-improve for your house and neighborhood, especially if you expect to recoup your investment.

For instance, if you live in a neighborhood where all the houses have modest kitchens, you won't get your money back at resale if you put in granite countertops and Viking appliances.

In other words, keep up with the Joneses -- not outdo them. Don't try to make your home the most expensive house on the block with major upgrades -- you'll never recoup those expenses. Instead, stick to improvements that put your home on par with other homes in the neighborhood. That way, you bring out the best in your home, without going overboard.

Mistake #1: Overpricing
You obviously want to get the highest possible price for your home, but you won't be doing yourself any favors if you price your home higher than the comps, i.e. the comparable homes in your area with similar square footage, construction, age and condition that sold recently or are currently on the market.

Serious buyers are well-informed and will instantly dismiss your property if they believe it's overpriced. (Hence, all the price reductions in today's market.)

On the other hand, pricing competitively (read: lower than similar homes in your area) will spark lots of interest in your home and could lead to multiple offers -- and, ultimately, a higher sales price.

From FrontDoor.com. View original article: http://www.frontdoor.com/Sell/Top-10-Home-Selling-Mistakes-That-Can-Cost-You/55225/p1

Frugal Tips to Make a Home More Appealing

Homeowners who want to sell but don’t have a lot of cash to spruce up their properties might consider these tips from Bankrate.com for upgrading a property without spending a fortune.

Polish up the kitchen. Add new cabinet door handles, replace lighting and update the faucet set. Unless the cabinets are mica, give them a fresh coat of paint. Order new doors for kitchen appliances.

Tidy up the bath. Replace the toilet seat. Clean up the floor with vinyl tiles or sheet vinyl applied over the old floor. Re-grout the tub and, if the tub is dingy, add a new prefabricated tub and shower surround.

Paint the walls.

Add closet systems to all the bedrooms, pantry, and entry closets.

Hire a plumber and an electrician to fix anything that is loose or that leaks.

Clean the carpets or, if they are worn, cover them with area rugs.

Replace ceiling lights with inexpensive but attractive fixtures.

Refinish or repaint the front door and replace the hardware.

Mow the lawn, edge the sidewalks, mulch all the beds and put two big planters at either side of the front door.

Source: Bankrate.com (07/14/2010)

View article on Realtor.org.