Wednesday, October 14, 2015

Just Because It’s a Seller’s Market Doesn’t Mean Your Home Will Sell Itself

from realtor.com take this into consideration...

It’s a seller’s market in the high season, as everyone knows by now. So if your home is listed, you’re already halfway to the bank, right?

There are plenty of things you should do, and avoid, to make sure you actually make it to closing day, your way.

“When properties are moving quickly, if your home doesn’t sell within the first couple of weeks, buyers will start to perceive your home as market-worn,” says Dave Fry of The Fry Group, a Keller Williams premier realty in Minneapolis–Saint Paul. “They’ll assume there is an issue with it and consider themselves in a stronger bargaining position or reject the home altogether.”

So if you’re selling your home, don’t just phone it in. We talked to local experts in some of the nation’s hottest markets right now for tips on how you can ride the wave—as opposed to getting swept up in it.

1. Price to sell

So many factors can feed in to your initial list price: market inventory, perceived vs. actual value, and others. Sellers often fall victim to the lure of a gigantic payday, thinking the higher the price, the higher their take-home. That is almost never true, says

Alison Sternfels, a 17-year Realtor® with Re/Max in Atlanta.

“In this market,” she said, “buyers don’t think sellers are negotiating very much. If you overprice it, you’ll lose the sweet spot of the first 45 days on the market. Even if you price it $20K over, instead of making an offer, they’ll move on.” Your house will take longer to sell, and you’ll likely end up having to cut the price anyway.

“The strategy we hear a lot—‘We can always come down in price’—can be a very costly one,” says Fry. “I understand that nobody wants to leave money on the table, but unfortunately this strategy does exactly that.”

2. Don’t get booed off the stage

Even the nicest, newest cribs need TLC, says JD Esajian of FortuneBuilders.TV, a real estate investing website.

“People don’t buy empty, nice, renovated houses,” he says. “People buy homes. And staging makes a house a home.” As awesome as your house may be, it’s your home. Strategic staging offers prospective buyers visual cues to help them picture your house as their home—which can translate to a sale.

“Some buyers are capable of visualizing, but most are not,” says Sternfels, who estimates that 60% to 70% of prospective buyers need a little help to imagine themselves in your home. “Stagers have the expertise to make the most out of certain spaces in the home.”

3. Nab them at the curb

The outside of your home is at least as important as the inside. Brown grass, sketchy shrubs, wilting flowers, peeling paint—all those and more can disqualify a home before your prospect walks through the door, says Jay O’Brien, managing partner and Realtor with Re/Max Prestige in the hot region of Anaheim Hills/Costa Mesa, CA.

“You don’t need to redo your entire house, but there are cost-effective improvements you can make that will dramatically enhance the appeal to your property, like a freshly landscaped yard, clean windows, and a tidy house,” O’Brien says.

Fry adds that we sometimes forsake the exterior to declutter and streamline the inside—but both remain important.

“The first impression is everything,” he says. “Most of us open the garage door, park the car, and enter our house from the garage and rarely enter through the front door. Take the time to act like a buyer and enter your home from there, remembering that they will be spending time waiting for the Realtor to unlock the door so they will get a real good look there. Touch up paint, clean off cobwebs, shine your door handle, freshen up landscaping, and scan for brown spots in the lawn if you have a pet. This all matters.”

4. Choose your agent wisely

For all of the above, your best counselor is a good agent—even if you’ve got the nicest digs on the block.

“It’s paramount to hire a Realtor that you like, trust, and respect,” says O’Brien, adding that even in a lively market, if you don’t match well with your listing agent, your sale could be adversely affected.

“The feeling must be mutual, or no working relationship should ever take place,” he says.

Use the list above, do your homework and due diligence, and remember: Stay humble. These markets and others may be going gangbusters with activity, but selling your home is never a given. You and your Realtor will still need to hustle to land the right buyer.

Yes, You Can Compete With All-Cash Buyers—Here’s How

food for thought from realtor.com

To some of us, all-cash buyers are the scourge of the superhot housing market: They swoop in, supervillain-like, and snatch up the most beloved and valuable properties from under our noses. Or at least the ones you might have loved, had you not been stuck with that pesky mortgage contingency.

Competing with cash buyers isn’t impossible, just difficult.

Sure, some sellers will take the major moolah every single time and there’s nothing you can do about it. But if you go in with a strategy, you might just have a shot. Here’s how to create one.

Figure out the seller’s goals

Determining what’s most important to your seller can be key to getting your dream home—even when you’re competing against an all-cash buyer.

“People often think that all sellers want the most aggressive, quick close, for the highest price. That’s not always the case,” says Shashank Shekhar, founder and CEO of Arcus Lending in San Jose, CA. When he sold his home earlier this year, the most important factor was getting back two months’ free rent, because he was also trying to buy.

“Even if the price was slightly lower but came with that offer, we would have taken that over all-cash,” Shekhar says. “Understanding what the seller needs is always the most important thing.”

Consider your contingencies

If you’re willing to forgo a home inspection or secondary appraisal, you may have a leg up over buyers who won’t.

“If you’re going to compete with a cash buyer, the contingencies may be a concern for a seller,” says Joe Petrowsky, a mortgage broker in Manchester, CT. “If the prospective buyer is willing to eliminate the contingencies, that may be an incentive for a seller, especially if there are some issues with the property.”

This isn’t necessarily the best strategy. Without a home inspection, for instance, the property could have crippling issues that might have precluded you from purchasing, had you known. But if you’re dead-set on this exact house and you’re pitted head to head against a cash buyer, it might be an option to consider.

Of course, there’s one contingency you can’t remove: the mortgage. (Hey, if you could, you wouldn’t be reading this right now!)

Get pre-approved…

You can help soften your mortgage contingency by getting pre-approved—and offering a strong pre-qualification letter from your lender. If you’ve saved up a significant down payment and have excellent credit, this might be your winning strategy.

“The seller or their agent should understand there really isn’t a chance the loan will not go forward,” says Petrowsky. With great financials and a large down payment, your mortgage officer can go to bat for you with the sellers, promising nothing serious will happen in the delicate time between offer and closure to compromise their money.

“Make your offer as cashlike as possible,” Shekhar says. “The No. 1 reason transactions fall through is because the loan gets declined during escrow.”

… but make sure your mortgage broker is great

“I see pre-qualifications all the time that are not worth the paper they’re written on, because the broker doesn’t know—or hasn’t done—the due diligence on the prospective buyer,” Petrowsky says.

How can you make sure your broker is worth his salt? Both Petrowsky and Shekhar recommend researching online beforehand, keeping an eye out for any negative reviews indicating mortgages that fell through at the last minute.

You’re looking for someone who’s thorough: “We do a lot of due diligence to make damn sure that person is going to get a loan,” says Petrowsky.

After all, sellers often go with all-cash “because they don’t want to get in any hassles during the loan process,” says Shekhar. “Give them that comfort, that safety.”

Make it personal

If you’re competing against all-cash flippers, you already have a leg up: Most buyers don’t want to see the home they’ve loved and lived in destroyed or turned into another cookie-cutter development.

“It’s an emotional reason, but people are more inclined to give to people who use it as their primary residence,” Shekhar says. “They’ve lived in this home for all these years and want future homeowners to have similar kinds of memories.”

Try including a letter telling the sellers about yourselves—and your hopes and dreams for their property. Putting a face to a name—and a story to a face—can be a valuable way to secure the home you want.

15 Ways to Prepare Your Home for the Holidays

from popularmechanics.com, great article...

In a few days, a ravaging hoard will descend on your humble dwelling. Is it up for the job? Use our thorough, all-encompassing checklist to prepare for the onslaught of holiday guests—for Thanksgiving and beyond.

1. Clean the microwave. Appliances take a beating during this holiday, but there's still time to make a few pre-holiday adjustments. Take out the microwave's rotating tray and scrub it or pop it into the dishwasher. Wipe down the microwave's interior with a soft cloth and a little soapy water. Make sure its air vents are clear of dust and grease. (If the microwave is an over-the-range model and provides general kitchen ventilation, be especially thorough cleaning its vent surfaces of greasy dust.) If you don't have spray degreaser on hand, use a soft cloth moistened with ammoniated glass cleaner.

2. Don't clean the oven. The self-clean cycle is so stressful on the appliance that it could cause it to fail, right before you need it most. Give a quick cleaning around the top burner elements and leave the rest be. Save the big cleanup until leftovers are safety nestled in the fridge.

3. Inspect the refrigerator. It's liable to be opened and closed more times on this one day than it is in a couple of weeks of normal use. Check for the following problems:

More From Popular Mechanics

* Tighten screws on any loose door handles.

* Fix loose or misaligned door gaskets. Take a nut driver or socket and wrench, loosen all hex head gasket screws, reposition the gasket using a putty knife to shove it into position and retighten. Consider installing a new gasket after the holidays.

* Clear blocked freezer vents. Reposition food in the freezer compartment to clear area around vents.

* Clear cold air vents. Reposition food in fresh food compartment to allow cold air from freezer to move more freely. Gain critically needed space by putting all drinks on ice in a cooler.

* Replace burned out lights with an appliance bulb, typically a clear 40-watt bulb sized for appliance use--a $3 item at hardware stores and home centers. If the fresh food compartment is still dark after its replacement, that usually indicates a failed door switch.

4. Prepare vacuum cleaners. Empty canisters or replace bags on these appliances and position them in a hall closet or other location for rapid deployment.

5. Clean drip coffeemakers. If you haven't recently checked the drip opening (and the area around it), you may be unpleasantly surprised. Unplug the coffeemaker and turn it upside down. If the drip opening looks like it's covered in asphalt, clean it with a soft cloth and a solution of warm water and dish detergent. It may take several tries to get the crud off.

6. Inspect the dishwasher. Check the strainer/drain area in the bottom of the wash tub (it's located under the spray arm). Remove food debris and wipe off detergent residue. Remove utensils and any bits of plastic or glass that you find in the bottom of the dishwasher tub. Wipe detergent residue, mold and slime off the door gasket and around the rim of the door, as well as the latch arm that locks the door.

7. Check the oven temperature. If you don't have an oven thermometer to check the appliance's temperature, this is the perfect excuse to treat yourself to a more versatile test instrument: a battery-powered infrared thermometer. The Heat Seeker from General Tools is a point and shoot diagnostic tool. Its laser points right to the surface you want to measure. After you're done analyzing the range, you can use it for checking heating/cooling equipment, and for any number of repairs around the house, such as whether the dryer is getting sufficiently warm. It's versatile and packs a diagnostic punch with -4 to 605¼ F capability. That's a lot of range for a $66 test tool.

If need be, adjust the range's oven temperature using the instructions in the owner's manual or using a repair manual for the appliance. Sometime's it's nothing more complicated than adjusting the temperature dial so it points correctly.

8. Sharpen knives. Tuning up kitchen knives is easy, so don't settle for hacking the bird when you can carve it like a pro.

The traditional method calls for laying the knife's long axis at 90¼ to the long axis of the sharpening stone and then moving down the stone's length with a gently curving arc. Hold the knife so it's about 22¼ to the stone's surface. To read more, click here.

While you're at it, you can tighten loose wooden knife handles by tapping in the center of their rivet using a center punch struck with a ball-peen hammer. The method spreads the rivet slightly and tightens the handle. To read more, click here.

9. Tune up cabinets.
A few minutes with a screwdriver is all it takes to whip loose parts into shape. Tighten loose cabinet hinges. Tighten the screws that mount to the door and to the cabinet wall. While you're at it, tighten loose drawer and door pulls and drawer slides. If kitchen drawers are over-stuffed and liable to jam in the middle of the cooking frenzy, now's the time to take out some of the clutter.

10. Take care of the toilet. Not to get too graphic here, but toilets see a tougher workout than any other fixture in the house, especially when guests pull up a seat. Now's the time to take care of poor flushing action or a toilet that flushes by itself by replacing the flapper valve or the entire flush mechanism. If the toilet rocks slightly, try tightening its mounting bolts. If you lift the bolt caps and find severely corroded fasteners (don't be surprised) leave well enough alone and let it go until after the holidays. For more on tuning up toilets, click here.

11. Replace burned out light bulbs. Pay close attention to lights that serve the front entrance and walkway that leads to the front door or other busy entrances.

12. Make your home slip- and fall-proof. Fix loose treads on exterior steps, loose deck boards or loose pavers on front walkways. Take care of all other tripping/falling hazards while you're at it, like using double-sided tape to stick down slippery rugs. Tighten the mounting screws on loose handrails. Buy de-icer to clear walkways and the driveway.

13. Bring in firewood. Stack it and let it dry for a few days before lighting that cheerful holiday blaze. Test run gas fireplaces before the big day, especially if they haven't been used since last winter. Split kindling for the holiday fire safely. Hold the kindling in place using a scrap of wood with a roofing nail driven through its end. Jab the nail into the kindling you're splitting to hold it in place and to keep your hand safely away from the hatchet or axe.

14. Child-proof your home. Make all child-safety preparations in advance, such as covering electrical outlets, moving lamps and vases away from table edges and making provisions to block stairways to prevent hazardous falls.

15. Final Safety Checklist:

* Change smoke detector/CO detector batteries.

* Keep jumper cables on hand, especially if you're expecting a big crowd. Always seems somebody's got a bad battery, and it's usually the car that will block everybody in the driveway.

* Double-check your first aid kit. At the least you should have burn cream, ice packs and bandages to deal with kitchen-related cuts.

* Keep a fire extinguisher handy in the kitchen.

Real Houses Inspired by Cartoons

from oddee.com blog...interesting to see where some home builders get their inspiration from...

The Simpsons House



This exact replica of The Simpsons' House was made by a fanatic, and it looks exactly like the one in the cartoon inside and out. It is located in Henderson, Nevada.

Flintstones House



This stone house looks amazingly similar to The Flintstones'. In spite of its unusual look, given by the huge spherical boulder on the uphill side and scoop-shaped end, it is like most contemporary homes on the inside. It has a front door, some windows, a roof. This house is located in Nas Montanhas de Fafe in Portugal .

Barbie House



This modern house was created by interior decorator Jonathan Adler on the eve of Barbie's 50th birthday. In March 2009, he decked out a real-life 3,500-sq ft pad overlooking the Pacific Ocean to look like the famous doll's outrageous home. The Barbie's Real-Life Malibu Dream House is in Malibu, California.

Minnie Mouse's House



This pink and lavender house not only looks cute on the outside but it is full equipped on the inside. It includes items such as an answering machine (where you can listen to messages from Mickey and Goofy), an oven through which you can watch a cake baking, and a microwave that even pops popcorn! It can be seen at the Mickey's Toontown Fair, in Orlando, Florida and also in Mickey's Toontown in Disneyland Anaheim, California.

Hello Kitty's House



This cute pink painted house was 100% inspired by the most famous cat in history. The Hello Kitty villa is located in Taipei, Taiwan.

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