Nov 5, 2013 | Home Seller Tips
In some ways, selling vacant land is no different from selling a home. You still have to prepare it for sale, and you still need to make it look as good as possible. This process of cleaning and beautifying is called staging. Here are a few tips for staging your land.
- De-Clutter. Your buyer wants to actually see your vacant land, and clutter only blocks their vision. Remove fallen tree branches, trash, and junk like car parts and damaged buildings. Cut back large brush. Clear paths so potential buyers can easily walk around the property.
- Highlight the positive features. Do you have a section where birds like to feed? Keep it stocked with bird feeders. Is there a section filled with colorful wildflowers? Don’t cut down this section when you mow. Does a group of trees form a canopy? Place a picnic table under their shade. Point out these positive features to your buyers.
- Make minor improvements. Repair any damaged section of fence around your property. Dig a pond and use the dirt to fill low areas so they are level with the rest of your land. Keep the grass mowed. These small efforts can make the difference between whether or not a buyer chooses your property.
- Mark property boundaries. When you’re looking at vacant land, it’s difficult to see the difference between 5, 10, or more acres. At the very least, you should place stakes (like those used by a surveyor) to show where the property begins and ends. Your buyers will want to know exactly what they are purchasing.
Make sure your vacant land is ready to sell. Let me help you sell your property fast and for top dollar. Call your trusted real estate professional today.
Nov 4, 2013 | Housing Analysis
Last week’s economic news came from a variety of sources. Most significant was the Fed’s Federal Open Market Committee statement after its meeting ended Wednesday. The statement indicated that the Fed saw moderate economic growth. FOMC did not taper its purchase of MBS and Treasury securities.
The FOMC statement announced the committee’s intention to closely monitor economic and financial developments “in the coming months,” which suggested that the FOMC is taking a wait-and-see position on reducing its $85 billion monthly asset purchases.
Mortgage Rates, Jobless Claims Fall
The Fed’s asset purchase program, also known as quantitative easing, was implanted in 2012 with a goal of stabilizing mortgage rates and other long-term interest rates.
The National Association of REALTORS® reported that pending home sales fell by 5.60 percent in September. Uncertainty over the FOMC’s decision concerning tapering its asset purchases during its September meeting and concerns over a then potential government shutdown.
These were noted as primary reasons for the drop in pending home sales, which are measured by signed real estate contracts. Pending Home Sales are used for estimating future closings and mortgage loan activity.
Tuesday’s economic reports included the Case-Shiller Home Price Indices for August. Home prices increased by 12.80 percent year-over-year in August as compared to 12.30 percent year-over-year for August 2012. August’s reading shows a dampened pace of rising home prices.
The Conference Board, a research organization, reported that consumer confidence fell from a reading of 80.2 in September to 71.2 in October. A reading of 75.00 was expected, but consumer confidence crashed as the government shutdown and its consequences diminished consumer and investor confidence.
According to ADP, a payroll administration firm, private-sector payrolls came in well shy of the expected 150,000 new jobs with a reading of 130,000 jobs. October’s reading was also lower than September’s reading of 145,000 new jobs.
Weekly jobless claims brought good news; new jobless claims came in at 340,000 and fell by 10,000 new claims from the previous week’s 350,000 new jobless claims. Expectations had been for 335,000 new jobless claims.
Freddie Mac reported that average mortgage rates fell. The rate for a 30-year fixed rate mortgage dropped by three basis points to 4.10 percent, with discount points down from 0.80 percent to 0.70 percent.
The average rate for a 15-year mortgage fell by four basis points to 3.20 percent, with an uptick in discount points from 0.60 percent to 0.70 percent. The rate for a 5/1 adjustable rate mortgage dropped by four basis points to 2.96 percent with discount points unchanged at 0.40 percent.
What‘s Coming Up
There is no housing or mortgage economic news scheduled this week other than Freddie Mac’s PMMS due on Thursday.
Reporting for this week includes Leading Economic Indicators, Weekly Jobless Claims, Non-farm Payrolls and the National Unemployment Rate will be posted. The University of Michigan’s Consumer Sentiment Index will be released Friday.
This week’s economic reports are expected provide a general gauge of the economy and information about how consumers are responding to recent economic events and news.
Nov 1, 2013 | Home Buyer Tips, Home Seller Tips
It never fails. After a potential buyer’s home inspection of what is otherwise the perfect property, there are issues that require the seller’s attention. Whether it is a faulty furnace, double tapped electric circuit breaker, rotten steps or mold, inspection defects like these can bring a screeching halt to the simplest of transactions.
A home buyer has the right to expect certain defects to be addressed by a seller, and often a seller will give a concession by reducing the sale price or providing a closing cost credit. But when a concession is not an option, a seller can always agree to repair or correct the defects at the seller’s expense prior to closing. (more…)
Nov 1, 2013 | Around The Home
Candles and candle accessories are very popular. However, when not used properly, candles can be extremely dangerous, resulting in property destruction and even injury or death. Here are some candle safety tips to help keep you and your home safe.
- Never leave a burning candle unattended. Walking away from an open flame inside your home is just not a good idea. You never know what may happen while you’re out.
- Never burn a candle near something that can catch fire. This includes drapes, lampshades, furniture, bedding, books, and carpet. A flame in your home can quickly turn into a destructive fire.
- Never burn a candle in a cracked container. A burning candle is filled with hot liquid wax that can burn you or damage your property. Only use sturdy, heat resistant candle holders.
- Keep the flame in the center of the candle. If the flame touches the candle holder, it can quickly crack or shatter the container.
- Never let a candle burn over night. Candles are not nightlights. Make sure you extinguish all flames completely before going to bed each night. The flame is out when the wick stops glowing.
- Never burn a candle within the reach of pets and children. The glowing flame of a candle is attractive to children and pets. They can easily knock over candles, which can lead to serious burns or a fire in a matter of minutes.
- Never touch hot candle wax. Liquid candle wax is hot, and it can burn you. Teach your children to follow this rule.
- Never burn a candle near a draft. The draft will shift the direction of the flame which will cause the candle to burn unevenly or start a fire in your home. If the candle flame is not burning in an upward direction, you need to move it.
If you follow common sense, you can enjoy the ambiance of candles in your home. For more information on candle safety in your home or have other questions about local real estate, please contact your trusted real estate professional.
Oct 31, 2013 | Consumer Tips
Gone are the days where parents sit at home while their costumed children run around the neighborhood alone. These days, most small children are walked door to door by family. While there is relatively little mischief they can get into under their parents’ watchful gaze, below are even more trick-or-treating safety tips for an untroubled, fun and haunted evening.
- Light Them Up – Put reflective tape on your children’s costumes and bags, so drivers can identify them easily. It’s dark out there!
- Plan A Route – Hit up familiar homes and don’t get too far from your house in case a small one gets tired or needs to go to the bathroom.
- Stay Out Of The Street – Keep kids on the sidewalk and be sure to look both ways before crossing the street.
- Take Stranger Danger Seriously – Don’t go into any dark, unfamiliar homes or get into cars with strangers.
- Hem Long Costumes – After purchasing a costume, make sure it’s at least three inches above the ground, so your little ghost won’t trip.
- Be Cautious Getting Ghoulish – Test makeup on a small portion of your child’s skin before putting it all over his or her face. Also, be sure to remove it before bedtime.
- Pack Away Pointy Toys – Make sure your children’s swords, knives and axes are short, flexible and made of foam.
- Wear Comfy Shoes – Avoid princess shoes with heals or anything that’s not flat and comfy for your tot. You don’t want them to trip in the dark.
- Watch Out For Flames – Keep flammable costumes away from luminarias or any open-topped glowing pumpkins.
- Pretend You’re At The Pool – Walk; don’t run.
- Put A Spotlight On Those Monsters – Carry a flashlight so that no one trips.
- Check Out The Treats – While this might seem paranoid, just quickly double-check the treats to make sure none have been tampered with or could pose a choking hazard.
Having your little witch in the emergency room instead of indulging in a late night sugar rush would put a damper on the entire holiday. So follow the 12 trick-or-treating safety tips above to help your child enjoy a hauntingly fun and safe Halloween.
