helpful article from trulia.com
Simple touch-ups can do a lot to impress a potential buyer — and possibly clinch a deal.
While small upgrades and minor decor replacements may seem like a waste of time when you’re in a hurry to sell your house, one of the biggest mistakes you can make as a seller is listing your home without any advance preparation.
Whether you’re listing your condo for sale in Miami, FL, or looking for a buyer for your home for sale in Chicago, IL, the easiest way to find what needs a little attention is to “put your buyer’s hat on and walk through your home like it is the first time,” says Marilou Young, an Accredited Staging Professional and an associate broker with Virtual Properties Realty in the metropolitan Atlanta, GA, area.
“Make notes on what you, as a buyer, would notice,” Young advises, “and then repair or replace those items.”
Be sure you prepare your home for sale — and can check off every item on this list — before you even begin to imagine hanging that “For Sale” sign out front.
1.Clean, clean, clean. Be sure to clean every nook and cranny. Don’t forget overlooked areas, such as dusting the fireplace mantel and ceiling fan blades, polishing appliances and faucets, and washing the windows. If you’ve already moved out or if you’re too busy to do a thorough cleaning, consider hiring a cleaning service.
2.Pay attention to smells.
3.Clear out the clutter. You want buyers to focus on how awesome your space is, not how messy it looks. Banish that pile of shoes from the entry, that stack of mail from the kitchen table, and anything else that detracts from your home’s gorgeous features.
4.Repaint the walls in neutral colors. As much as you love your dramatic red dining room, it could turn off a good portion of your potential buyers. So repaint your rooms in neutral tones such as grays, tans, and whites that allow buyers to focus on the spaces, not the color of the walls.
5.Keep the decor simple. To help buyers imagine themselves in your space, get rid of any statement art or decor that might turn people off. A classic landscape painting? Totally fine. Your zebra-print leather couch? Might want to slip-cover that for showings or rent a storage unit until you’re ready to move it into your new place.
6.Get rid of personal items. Buyers want to be able to envision themselves in your home, so remove anything overly personal, such as the gallery wall of family photos or your kids’ artwork on the fridge.
7.Let there be light! Open all the windows (especially in warmer months) to let in natural light and add floor or table lamps to illuminate areas that are dim. A bright, cheery room looks bigger and more inviting.
8.Bring nature inside. Potted plants or a few pretty buds in a vase can help bring energy into a space, fill in empty corners, and even draw attention to features you want buyers to notice. Just make sure the plants are in good health (and bug-free!).
9.Get rid of bulky furniture. Your furniture should fit the scale of the room, so get rid of any extra or oversized items that could make your space look smaller than it really is. For example, if you have a huge sectional in your family room, consider breaking it up and use just the main sofa portion.
10.Organize your closets. Storage space is a huge selling point, and if your closets are stuffed to the brim, buyers will think you don’t have enough of it. Invest in some boxes, dividers, and other solutions that will help you organize your space, and remove items you don’t need (you can stow them away until you move).
11.Tackle that honey-do list. All those little things you’ve been meaning to do but never got around to? Do them. Buyers will notice minor flaws, and they’ll detract from the value of your home. So set aside a weekend to tighten those loose doorknobs, fix that leaky faucet, and paint over the scuffs from when you first moved in your sofa.
12.Do a faux renovation. Little tweaks can make a big difference in the overall feel of a room. Kitchen a bit outdated? Replace the fixtures, faucets, and hinges. Family-room furniture beaten up? Throw some slipcovers over it.
13.Give each room a purpose. That spare room you’ve been using as an office/guest room/dumping ground won’t help sell your home unless you show buyers how they can use it themselves. So pick a use (office, guest room, crafts room) and clearly stage the space to showcase that purpose.
14.Turn the bathroom into a spa. Create the feel of a relaxing, luxurious bath — for less than $30. Stack a few pretty washcloths tied with ribbon, add some candles and orchids, and buy bathmats and towels in coordinating tones such as light green, blue, and white.
15.Lower the toilet seat. When it comes to both showing and photographing your home, this little trick can make a surprising difference.
16.Turn the living room into conversation central. Practice the art of feng shui: Help buyers picture themselves relaxing with family and guests by grouping your furniture into arrangements that inspire conversation.
17.Keep the flow going. The last thing you want is people bumping into furniture as they tour your home; it disrupts their focus and makes your space look cramped. Do a dry run as though you’re seeing your home for the first time and tweak anything that interrupts the “flow.”
18.Make something yummy. Real estate agents don’t put out fresh cookies at open houses just to treat buyers. A “homey” smell such as cookies or muffins baking can help people connect with a kitchen. Not a baker? Fake it with a scented candle.
19.Make it look lived in with vignettes. Help your buyers see themselves in your home by adding deliberate vignettes that showcase how your home can be lived in. An inviting armchair and a tray with a coffee cup and book on it can turn that empty corner into a reading nook. Pretty soaps in a decorative tray can make your tiny half bath more appealing.
20.Highlight focal points. Draw buyers’ eyes toward any special features with bright colors or accents such as plants. A pop of red from a throw pillow can draw buyers’ attention to that lovely window seat. A striking fern on the mantel can show off your fireplace.
21.Boost the curb appeal. Don’t spend all your time indoors. Buyers may decide to not enter a home based on its curb appeal, so make sure your home’s exterior looks excellent. Trim shrubs, weed flower beds, remove and refresh any peeling paint, and keep the walkway clear. Just adding a row of potted plants along the walkway or a cheerful wreath to your front door can make a big difference. Marilou Young recommends her clients focus on curb appeal first. If her clients are on a tight budget, she’ll advise that they at least spruce up the front entrance. That first impression goes a long way.
Sunday, November 15, 2015
Colorado's Hot Home Prices Tap The Brakes, But Just For Winter
interesting on local data from kunc.org
Northern Colorado's home and condo prices are not ticking up quite as fast as they were earlier in 2015. But the lull is typical heading into winter, say real estate experts.
If you look year over year, the median single family home price of $304,000 for the Northeast Region, which covers Boulder, Larimer, Logan, Morgan and Weld counties, is still nearly 15 percent higher than the $265,000 it was at this time in 2014.
Prices for townhomes and condos market are also staying up. With a median price of $225,000 in the Northeast Region, the prices for these units are 19 percent higher versus the same time in 2014.
Kelly Moye, with the Colorado Association of Realtors, called the recent price plateau a "seasonal shift." Hiring typically slows this time of year, meaning fewer people moving into the region. In 2016, however, Moye said most people watching the market expects it to pick back up.
"Everybody that I've talked to seems to think next year [2016] is going to be equally as strong as this year. We have economic factors in our state that all point to continued growth and continued appreciation," said Moye.
This is especially true because the inventory of homes is not growing quickly. Builders are trying to fill the gap in supply that is contributing to higher prices, but they are not able to build at a rate that keeps up with demand, said Moye. This is particularly true for construction of homes priced below $300,000.
Since the Colorado economy is continuing to remain strong, growth in the state will likely continue, keeping the market busy.
"We should probably see a similar really brisk spring next year," said Moye.
It's not only Northern Colorado experiencing very fast growth in prices. The Denver Metro region, which includes Denver suburbs, is on the same track. The median single family home price in the Denver Metro in October 2015 was $344,000, up 14 percent from this time in the previous year.
Such prices may not seem unusual for workers moving from higher-priced coastal areas, but Colorado's Front Range has historically had a lower cost of living. Wages are typically lower than they are on the coasts, and that disparity between home prices and income contributes to a rising lack of affordability.
At a recent demography meeting in Littleton, Jason Schrock, a chief economist with the office of state planning and budgeting,said that home price increases in the Northern Front Range were increasing faster than any other part of the country except coastal cities.
"Really only the coastal areas of the country have higher costs than the Northern Front Range," said Schrock.
Northern Colorado's home and condo prices are not ticking up quite as fast as they were earlier in 2015. But the lull is typical heading into winter, say real estate experts.
If you look year over year, the median single family home price of $304,000 for the Northeast Region, which covers Boulder, Larimer, Logan, Morgan and Weld counties, is still nearly 15 percent higher than the $265,000 it was at this time in 2014.
Prices for townhomes and condos market are also staying up. With a median price of $225,000 in the Northeast Region, the prices for these units are 19 percent higher versus the same time in 2014.
Kelly Moye, with the Colorado Association of Realtors, called the recent price plateau a "seasonal shift." Hiring typically slows this time of year, meaning fewer people moving into the region. In 2016, however, Moye said most people watching the market expects it to pick back up.
"Everybody that I've talked to seems to think next year [2016] is going to be equally as strong as this year. We have economic factors in our state that all point to continued growth and continued appreciation," said Moye.
This is especially true because the inventory of homes is not growing quickly. Builders are trying to fill the gap in supply that is contributing to higher prices, but they are not able to build at a rate that keeps up with demand, said Moye. This is particularly true for construction of homes priced below $300,000.
Since the Colorado economy is continuing to remain strong, growth in the state will likely continue, keeping the market busy.
"We should probably see a similar really brisk spring next year," said Moye.
It's not only Northern Colorado experiencing very fast growth in prices. The Denver Metro region, which includes Denver suburbs, is on the same track. The median single family home price in the Denver Metro in October 2015 was $344,000, up 14 percent from this time in the previous year.
Such prices may not seem unusual for workers moving from higher-priced coastal areas, but Colorado's Front Range has historically had a lower cost of living. Wages are typically lower than they are on the coasts, and that disparity between home prices and income contributes to a rising lack of affordability.
At a recent demography meeting in Littleton, Jason Schrock, a chief economist with the office of state planning and budgeting,said that home price increases in the Northern Front Range were increasing faster than any other part of the country except coastal cities.
"Really only the coastal areas of the country have higher costs than the Northern Front Range," said Schrock.
Economist Calls for Off-Season Home Purchasing
from national mortgage professional.com...
While the autumn and winter months are traditionally not the most frenetic in terms of sales volume, one prominent housing economist is calling on people to break with tradition and consider residential home purchasing during this chilly off-season.
“If you qualify for a mortgage and have the funds for a downpayment and closing costs—and if you intend to live in a home long enough to cover the transaction costs of buying and selling—you will be better off financially if you buy as soon as you can,” said Jonathan Smoke, chief economist at Realtor.com. “After all, if you are tired of your current home now, you won’t feel better about it in six months.”
Smoke noted that one of the problems facing many housing markets—the lack of inventory—holds no promise of being resolved in the warmer weather.
“Inventory isn’t likely to be higher in March and April than it is now,” Smoke continued. “And while inventory should grow in late spring and into summer, it won’t grow as fast as the seasonal demand. So, if you are ready, consider getting in the market now instead of early spring. You will have more choices and less competition, and you can lock in today’s rates rather than risk rates being 25 to 50 basis points higher.”
Without mentioning Janet Yellen and friends by name, Smoke also hinted that a potential Federal Reserve rate hike would make homebuying somewhat costlier after Dec. 16.
“A 50 basis-point increase in rates … would cause monthly payments to be six percent higher,” Smoke said. “And that increase would not only affect your monthly cash flow but could also affect your ability to qualify.”
While the autumn and winter months are traditionally not the most frenetic in terms of sales volume, one prominent housing economist is calling on people to break with tradition and consider residential home purchasing during this chilly off-season.
“If you qualify for a mortgage and have the funds for a downpayment and closing costs—and if you intend to live in a home long enough to cover the transaction costs of buying and selling—you will be better off financially if you buy as soon as you can,” said Jonathan Smoke, chief economist at Realtor.com. “After all, if you are tired of your current home now, you won’t feel better about it in six months.”
Smoke noted that one of the problems facing many housing markets—the lack of inventory—holds no promise of being resolved in the warmer weather.
“Inventory isn’t likely to be higher in March and April than it is now,” Smoke continued. “And while inventory should grow in late spring and into summer, it won’t grow as fast as the seasonal demand. So, if you are ready, consider getting in the market now instead of early spring. You will have more choices and less competition, and you can lock in today’s rates rather than risk rates being 25 to 50 basis points higher.”
Without mentioning Janet Yellen and friends by name, Smoke also hinted that a potential Federal Reserve rate hike would make homebuying somewhat costlier after Dec. 16.
“A 50 basis-point increase in rates … would cause monthly payments to be six percent higher,” Smoke said. “And that increase would not only affect your monthly cash flow but could also affect your ability to qualify.”
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.
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.
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.
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.
Weblink to full source post
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.
Weblink to full source post
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