Sep 5, 2013 | Home Selling Tips
When it comes to selling your home, curb appeal refers to the “first impression” that your house gives when a buyer approaches it from the driveway or the street.
Does your house look attractive and inviting, or does it appear rundown?
First impressions are important and even if the inside of the home is perfect, the outer appearance can really affect a buyer’s perception.
If you are trying to sell your property, you have probably mowed the front lawn and even planted flowers in order to improve your curb appeal. However, could you have over looked one of these common curb appeal mistakes?
Cheesy Garden Gnomes
You might think that your decorative lawn ornaments are cute, but your potential buyers don’t necessarily have the same taste. If you have a few gnomes living in your garden, you might want to hide them away for a while when your home goes on the market.
Dark Pathways
Your potential buyers might want to visit your home in the evening, so make sure you invest in some outdoor lighting to guide their way to your front door. A poorly lit front walkway will not make a good first impression.
Dying Flowers
Adding flowers to your front yard can improve your curb appeal, until the seasons change and they begin to go brown and whither. Do your best to keep up with the garden maintenance throughout the year so that everything still looks fresh.
Children’s Toys
If you have little ones, your yard is probably filled with discarded Frisbees, tricycles, skipping ropes, sidewalk chalk and other toys. Before showing your home, make sure that all of these are tidied away.
Your potential buyers might not have children and might not be fond of them, so they want to be able to see what the lawn and the garden will look like when it is not covered in brightly coloured plastic.
These are just a few of the curb appeal mistakes to avoid, so that your home looks as appealing as possible. For more home real estate tips, feel free to contact your real estate professional.
Sep 4, 2013 | Home Selling Tips
Words are powerful and when you are selling your home, the words that you use in your real estate listing can really impact the first impression that the property makes on potential buyers.
Whether you are writing the real estate listing, or the house is being promoted by a real estate professional, it is important to use the right words to convey the meaning that you intend.
This is especially true when you only have room for a short description, as every word counts.
Here are a few words to use in your description that will really bring positive attention to your real estate listing:
“Within Walking Distance Of…”
Can you walk from your home to the supermarket, the local pub, the shopping mall, the elementary school or the dog park? If so, make sure you advertise this on your real estate listing!
Buyers are looking for homes that are accessible to the major amenities that they use in their everyday lives, because this saves them time and money on fuel and is more convenient.
“Plenty of Storage Space”
Let’s face it, as a nation we tend to be hoarders. Many people have an incredible amount of stuff and they need a house that has enough room to store it all.
A home with plenty of well organized closets and storage space will be desirable, because it will suggest a comfortable and well organized living environment rather than a cramped and cluttered existence.
“Move Right In”
If your home is fully finished and doesn’t require any renovations, make sure that potential buyers know this. A home that is in “move in condition” will be very desirable to some people who don’t want to take on the headache and hard work of a fixer-upper.
“Light and Spacious”
We are attracted to bright open spaces and floor plans that have a comfortable flow, rather than small and dark compartmentalized hallways and rooms. If your home has a lot of natural light and an open floor plan, this is a great attribute that you should highlight in the listing.
To find out more about listing your home and generating interest in your property, contact trusted real estate professional today.
Sep 3, 2013 | Home Buyer Tips
What happens if you find the dream property that you want to buy before you have made the sale on your old property? Ideally you would have sold your current home before you buy your new property.
However, sometimes the transition doesn’t work out that way. You don’t want to give up the purchase if you have found a bargain on your dream home, so is it possible to buy the property before you have closed on your current residence?
The answer is yes, it is possible. You will need to use a financing option that will allow you to secure your next home before you have sold your existing property.
Getting A Bridge Loan
One option is a bridge loan. This is designed to wrap your payments for your current home and your future home into one loan, which can last usually between six and twelve months.
This type of loan usually involves a small fee and you will also be responsible for the closing cost on the mortgage on your next home.
Borrowing From Your 401K
Another option that might work is to borrow from your 401K, if your company allows it. In this situation, you will be able to borrow the money and then repay it right away when you sell your home. Of course, make sure you find out the rules on this first so that you are not at risk of incurring any penalties with the IRS.
Taking Out A Personal Loan
Another possible option is to take out a personal unsecured loan. Keep in mind, these types of loans usually have high interst rates and they will only last for a few years. Also, you will need to include the payments that you are making on that loan when you are qualifying for a mortgage on your next home.
Advantages To Buying Before Selling
One thing to keep in mind is that if you buy a new home before selling your old one, you will save yourself from a period of transition when you are between homes. Also, you will only need to hire a moving company once and you won’t have to put anything into storage, which will save you money.
For more information on how to make the best transition into your new home, speak with your trusted real estate professional today.
Aug 30, 2013 | Around The Home
Not only does the Labor Day weekend signal a little time off work, but it also indicates a close to the summer season, which means it’s time to get ready for colder weather.
So get in the spirit of the long weekend and put the labor of love into your home by creating a cozy hideaway that your family can retreat to once the outdoors become too chilly.
One of the best places to create this snug space is to mimic hibernating animals and go under ground — to the basement.
Whether your lowest level needs a facelift or is completely unfinished, Labor Day weekend is the perfect time to make a game plan and get started on remodeling your basement.
Step 1 – Obtain A Permit
Before you can just slap up insulation and drywall, you need to make sure your basement is even fit to dwell in.
Check with your city to ensure there aren’t any permits you need to obtain and that the space is up to code. If you don’t do it right, then this update could haunt you when it comes time to sell.
Step 2 – Get The Air Flowing
You’ll want this space to be warm in winter and cool in the summer. Contact a contractor to see if getting air to this lower level will be as easy as tapping into your current HVAC system and whether or not your existing appliance can handle the extra space.
Step 3 – Design And Frame
Now comes the fun part. Decide what you want down there! A bedroom or two, a man cave, or TV room; a blank slate provides all sorts of exciting options. Once you’ve got a plan, start framing it out.
Step 4 – Add Emergency Exits
This underground level needs exit points that go directly outside. So, install a back door or windows that someone could fit through in case of emergency. If there are bedrooms in the design, they also each need their own exit point.
Step 5 – Insulate And Drywall
While the ground surrounding your home provides some insulation, you’ll want to properly insulate around the perimeter and in between rooms to provide a noise barrier. Then put up the drywall.
Step 6 – Install Flooring
Pick out your flooring, such as wood, tile, carpet or vinyl. It mostly depends on what type of rooms you’re planning to create. Make sure your floors are level before you lay anything down. It’s especially common to find slanted floors in older homes.
Step 7 – Paint And Decorate
You’re almost finished! Pick out your paint colors, move in your furniture and enjoy your new cozy hideaway. Colder weather will be here before you know it, so use the long Labor Day weekend to get this project started.
Aug 29, 2013 | Housing Analysis
The National Association of REALTORS reported Wednesday that pending sales of existing homes fell by 1.30 percent in July.
According to the organization’s Pending Home Sales Index, this was the second straight month that pending home sales dropped. July’s Pending Home Sales Index reading was 109.50.
Signed Purchase Contracts For Existing Homes Tracked In The U.S.
- ·Northeast: – 6.60 percent
- ·Midwest: – 1.00 percent
- ·West: – 4.90 percent
- ·South: + 2.60 percent
Pending home sales were 6.70 percent higher year-over-year on a national basis. This indicates that the housing recovery is progressing, but at a slower pace.
Short supplies of available homes have also impacted sales. In some areas homebuyers are facing competition from multiple buyers for individual homes.
Another report released earlier in the week showed that the pace of rising home prices also slowed. This connects with fewer pending home sales, as when demand for homes cools, prices are likely to fall as well.
Pending home sales serve as an indicator for future home sales, as purchase contracts typically lead to completed home sales within two to three months.
Housing Market Developments Could Delay Fed Stimulus Decision
The Federal Reserve has indicated that it may begin reducing its stimulus program of buying $85 billion per month in U.S. Treasury bonds and mortgage-backed securities.
The Fed has repeatedly stated that continued monitoring of economic trends would weigh heavily on its decision if and when to modify its current stimulus program.
Mortgage rates have risen more than a percentage point since May when the Fed began discussing potentially “tapering” its monthly bond purchases.
The Fed may interpret the slower pace of rising home prices and pending home sales as a sign that it’s not yet time to reduce its stimulus program. This could help with lowering mortgage rates, which are expected to rise when the Fed reduces its monthly securities purchases and eventually ends its stimulus plan.
Housing has led the economic recovery; faltering indicators in the housing sector suggest that the overall recovery is a fragile process.
