Showing posts from October, 2012

Sellers: Clean Your Windows!

Home staging is all the rage, ever wonder why - well, because it works, that's why! There are many great home staging consultants out there and their success ratios, speak for themselves. But did you know what one of the most important things you can do if you really want to sell a home? Clean the windows.
Sounds obvious right, it is but so many folks fail to see it, or see out of them. The windows are paramount for a home buyer, clean windows help sell homes. It does not matter if you are selling your own home the hard way or hiring a professional realtor to help you through the tricks and traps of home selling, either way, if you can't see out the windows, no one is going to want to come in and make an offer.
What is it about clean windows that make such a huge difference?

Well, clean windows let the natural light in. Psychologists note that the most important thing in home staging or for even curing depression is the lighting. That's right, its all about the light! Ligh…

Myth: Nobody wants to buy short sales

Finding a buyer that will not only make an offer but will stick around and see the process through is the Achilles Heel of the short sale process, this is why it's an advantage to use a real estate investment company that specializes in short sale negotiations. Not only will you have your buyer right away but also they will still be there at the finish line.

Myth: A short sale will still hurt my credit so what's the point?

It's true that you will experience a drop in your credit rating following a short sale, however if you see yourself owning another home again in a couple of years then it will definitely be beneficial. Under current Fannie Mae and Freddie Mac guidelines you will have to wait between 5 and 7 years to qualify for another mortgage.

Following it that wait will be as little as two years and in some cases maybe less. Foreclosures are reported twice on your credit report once by the lender and once in the public records section, a foreclosure on your credit report will be there for at least 7 years.

Do Home Improvements Before Home Staging

Getting any home ready for the market is a huge task in itself, and staging your home is one of the best tools to use for marketing your home. Although, staging a house gives sellers the best presentable look, it can backfire if there are serious improvements that need to made. Taking your property to the next level is crucial, but it needs to be done right. Hiding any problems or deciding to side step major property issues shouldn't be the approach for any seller that is trying to have a successful sale.

Buyers need to have a transparent property report and as a seller it is important to provide upfront information about property issues to every buyer that shows interest in your home. Every square foot of your home should show signs of a reliable place to live as well as offer buyers with a comforting feeling as well.
Here is a small list of improvements that could potentially keep your home from selling. Starting with the front door. This is the entrance to yo…

Home Staging Tips

Selling a house is probably one of the biggest investments a person makes in his life. However, selling real estate quickly and that too at the desired price is not a runaway victory and calls for a lot of strategies. Home staging is one of these strategies that work wonders for sellers by enabling them to make a fast sale to the most potential buyer. Many people believe that staging a home is similar to designing interiors of a house; however the fact of the matter is that these are two completely different processes.

Interior designing is essentially dedicated to the homeowners, wishing to modify the feel and look of their house. It focuses on designing interiors that may reflect the personality and liking of the homeowner. On the contrary, home staging eliminates the element of personal feeling from a home to get an overall general appeal. The idea behind doing so is to attract the prospective home buyers. Therefore, the chances made by the sellers during the process …

Mow Your Lawn!

To keep your home looking its best, be sure to keep your yard mowed often and well trimmed. Get rid of any leaves or debris that can adversely affect the appearance of your yard, and make sure that your hedges and bushes are clipped and trimmed as well. Most home exteriors could also benefit by having a good pressure washing to remove accumulated dirt, grime, and some stains. Now would also be a good time to get your windows and screens cleaned up and sparkling. A few flowers placed in the right places can also do wonders for the outside appearance of a home, just don't go too overboard in this area. Having a nice set of low-voltage outdoor lighting can also create a pleasant appearance and mood for those who visit in the evening too.

Make the Outside Of Your Home Shine!

If you are selling your home, you need to spend sometime beforehand to make sure that it looks its best if you want to get a quick home sale and make more money. Experts agree that homeowners can have a major impact on the selling process primarily by how well they prepare and present their home to prospective buyers.
So your job as a homeowner who wants to sell is to become an inspector of your own home. And the first place that you want to inspect is the outside of your home. The appearance of your house from the road is what is called in the industry "curb appeal". You only have one chance at a good first impression, and that will be made by the outside appearance of your house. In fact, in many cases prospective home buyers will formulate an opinion about your home, either positively or negatively, based on their first impression from the outside.
So as you can see, the exterior of your home is a very important. So take a notepad with you and go outside and …

Buying a Short Sale House

Although entering into a short sale may sound good because of the low price, you have to consider some risks that you are taking before jumping into the sale.

It is important to know the real scenario before getting excited about getting a very nice home at a very low price. It is good to ask for your real estate lawyer or an agent's assistance to get the public records of the property you are interested in. The records will reflect the person who is holding the title and how much is still owed to the property lender. The records will also show if there have been notices of foreclosure to the property. Pre-foreclosure can happen in a thirty day period or even less. Hence, it is important to know these details to avoid future problems with the property you want to buy. The information that you will gather can affect the amount that you will offer for the short sale. These risks determine the viability of the sale and you can present these to the seller or the lender. …

Hardship Package

When trying for a short sale, you must put together your hardship package. Your lender is going to require current income and asset documentation (paystubs, bank statements, etc.). A valuation of your property will also be ordered. You must also write a hardship letter, detailing the circumstances that brought the need for a short sale. Don't hold back. Tell the truth, no matter how difficult or embarrassing this might be for you. Believe it or not, lenders are not all cold and callous. There are real people on the other end, and they do understand. Here are examples that might qualify as a hardship:

• Unemployment
• Reduced income (furloughs, new job, partner's loss of job, pay cut)
• Illness or medical emergency
• Job transfer (voluntary or involuntary)
• Divorce, separation or marital difficulties
• Exotic mortgage terms (an adjustable-rate loan)
• Military service
• Death in the family
• Incarceration
• Increased expenses and excessive debt
• Unexpected repairs or …

Required Disclosures When Selling

There are certain statutory disclosures including local ordinances and federal laws that a realtor must comply with and provide to the buyer, subject to certain exemptions. These disclosures are required in connection with the sale, transfer or exchange, lease with option to purchase, and ground lease of residential real estate. The following is a highlight of those disclosures:

Transfer Disclosure Statement Exempt Transactions
The Seller and all real estate agents involved in the real estate sale, transfer or exchange of 1-4 units of residential real estate must complete a transfer disclosure statement, and deliver it to the buyer. The purpose of the statement is for the seller and all Realtors involved in the transaction to disclose any material facts or defects known about the property that might influence the buyer's decision to purchase the property. It is always best to over disclose. It will help keep everyone out of court.

However, there are certain exempt t…

Be Pro-Active: Attempt a Pre-Foreclosure

Everyone dreams of owning their own home. We all love to have our own space and privacy, but nothing in this world is ever a guarantee except living and dying. Circumstances change, and you could be facing a pre foreclosure. You may have saved a very long time to buy the home of your dreams and you may have lived in that home for quite a while, but things have changed and you can no longer make your monthly mortgage payments. This article will give a few pre foreclosure tips that might be of some value to you.

None of us like to think of losing our home we so much love, but sometimes the inevitable happens. You are now facing a pre foreclosure. Maybe someone has died, or you become sick or disabled and can't work. Maybe you lost the job that you thought was secure. Whatever the circumstance, the bank has let you know a pre foreclosure is in effect. A pre foreclosure is the amount of time a lending institute will allow you to get back on your feet before they are forc…