Tips to Selling Your Home Faster

What new home sellers usually miss out on is investing time and a bit of money in making the home they are selling as attractive as possible. This is important because sellers have to make potential buyers feel warm and welcomed when they view the house -- they have to feel as if they can move in already; that they are "home." This is why tweaking the house on sale here and there can make a huge difference!

So, what can sellers do to make a faster sale? First and more important of all, the house needs to be clean, organized, and welcoming. Sellers have to get rid of clutter (i.e. piles of toys, indoor plants that are already out of control, old photo albums, etc.). Also, it is essential to remove decorations that are already out of season (i.e. Christmas lights) and fix doors and windows that already need fixing. Finally, it is important to re-paint the house or put new wallpaper. Perhaps one thing that potential buyers find displeasing about a home is how run-down it already looks.

By following these simple tips, sellers will most likely make a sale faster and with higher profit. For more tips on home selling, visit this site.

All About Real Estate

When entering unfamiliar territory, it is important for anyone to inform themselves first before going in. This is important if you want to avoid making grave mistakes.

If you are new to the real estate industry, you have to do just that. Whether you are a new home seller or a seasoned one, it is essential to always be informed. Just like a soldier entering a battlefield, you have to have yourself armed as well. You have to keep feeding yourself with information about the market, news about the area of the home you are selling, and much more.

To help you prepare yourself, visit this site. It has free reports and news on any real estate related matter. You can also contact an agent for assistance if you need it.

Home Inspection and Passing It

Experts say that during home inspections, there are over 33 problems that can possibly be flagged by the inspector. This is why before listing a home, it as advised that sellers should make their own pre-inspection just to see if there are certain areas in the home that need to be fixed or improved. By doing this, home sellers can save themselves from the hassle of experiencing very costly delays.

If you want to avoid the inspector from flagging issues in your home, read this report first before listing your home. The report contains high-cost traps that you should know about before having your home listed.

Pricing Your Home

One of the most important things when selling your home is figuring out how much to sell it for. Other than it's location and condition, it is also important for home sellers to check the prices of other homes that are for sale in their respective areas. By comparing prices, home sellers will have an idea of the market in that specific area and avoid selling the house for too high a price or under the area's price range.


If you want to avoid the mistake of putting a home into the market with a price that it outside an area's range, start doing research! To help you compare prices, check this link for free and up-to-date list of home prices in your area.

How To Recognize A Sellers Market

As a homeowner, and a prospective seller, you may be wondering if now is a good time to put your home on the market. But how can you tell if the market is in your favor at this time? Will you lose money or make money? Is it a "sellers market"?

These are all very important questions. And the answer is in the market statistics.

As a seller, one of the first things you must evaluate is the desirability of your location. Market conditions are extremely localized statistics. While the national economy and housing market tie every area of the country together to a certain degree, markets and their conditions range widely from state to state, community to community, and even neighborhood to neighborhood within a community.

You must ask yourself, and your real estate agent, "Is my neighborhood up and coming or has it already come and gone?" If you live in a neighborhood that is highly desired due to its school system, local amenities, or even status and prestige, then you may find yourself in a continual sellers market, where you will always be in the advantage.

A great place to start your research is the National Association of Realtors's website, realtor.org. They offer monthly quarterly and monthly studies by region, that include such things as existing and pending home sales.

For a more local view, look at the most recent sales in your surrounding area. How much are homes selling for? And how does your home compare in both size, location, upgrades, and condition?

Unfortunately, an issue completely out of your control can have a direct effect on your ability to sell your home, and for a good profit. Foreclosures in your neighborhood affect your home's value. This isn't fair, but it is how the market works. Buyers look for the best home for their dollar. If they are able to buy a home on your street for a foreclosure price, then suddenly your asking price must decrease in order to compete. Be sure to ask your agent for tips on how to make your home stand out again to buyers, despite this issue.

Another stat you should be aware of is "days on market." This means how long it takes a home to sell from the time it hits the market. In general terms, anything less than 6 months is considered a sellers market. If the average time is longer than 6 months, then the market is in favor of buyers. This should be a consideration for when you look to buy your next home. Unless you are prepared to carry two mortgages, you will want to make sure your current home has sold before looking for the next.

How is the local job market faring in your city? If you live in a town that has a healthy economy, then chances are you live in a sellers market. People who have steady jobs are more inclined to look to buy. The bigger the unemployment figures, then fewer buyers on the market.

Another consideration is "appreciation." In a healthy market, a home should increase in value each year. Many of the areas of the country, however, experienced a "bubble burst" after seeing years of record appreciation rates. Two major areas of uncontrolled appreciation were Florida and California. Homes bought during the bubble may very well be worth less now than their owner owes.

Be sure to discuss all of these issues with your local real estate agent. They will be able to help you determine whether now is a prudent time or not to put your home on the market.

Article by Carla Hill

on Realty Times

Selling Your Home -- How Long Will It Take?

Statistics show that 40% of homes usually sell within one month of being put into the market. However, there are still homes that take months in the market and only sell after a number of price adjustments. For home owners, it is important to take note of factors such as the home's location, condition, the market condition, and the price when planning to sell a house.


To save yourself from the hassle of researching for all these data, you can always result to hiring an agent to help you with selling your home. If you still choose to do it on your own, check this article for a free analysis of the market.

This article is brought to you by Real Estate for Starters and Broward Home Info

Preparing for Home Showings

It's a very exciting time. Your agent has just lined up a prospective buyer. A deal can be made or broken, however, during the showing. How can you prepare your home to its best advantage?

The National Association of Realtors suggests that your first course of action should be removing clutter. The reasoning behind this is simple. Clutter distracts the mind and it distracts the imagination. A potential buyer needs to be able to see themselves and their own style in your home.

By banishing disorder and welcoming in neatness you can give your house an advantage over any competition who is lesser prepared.

2. After decluttering, the next step is to clean. In the same sense that decluttering is removing "you" from the potential home of another, cleaning is removing your grimy mark. Have carpets cleaned, wax the floors, and remove any odors of pets or smoking.

3. Luxurious bathrooms are a must. A bathroom that is clean and full of comfort is appealing to most every buyer. Arrange new towels and rugs, as well as burn fresh smelling candles. Consider adding rich decor, such as paintings.

4. Windows that shine. We can become desensitized to the finer details of our home, but buyers will hone in on each and every imperfection. Be sure that during your cleaning and decluttering, you don't forget to wash your windows. This way buyers will be able to focus their attentions on the beautiful grounds of your property, as opposed to the spots on the glass.

5. Let there by light. Burned out bulbs can make rooms look dark and dingy. Consider buying eco-friendly fluorescent or LED lights for use in your home.

6. Minor repairs are important. There are buyers who are turned off by even minor repairs. They see that loose cabinet door or that warped deck board as a two-fold evil. Either the house has been poorly cared for with bigger repairs waiting for discovery under the surface, or that the home may be too much work for them.

7. Don't neglect your yard. For many buyers, a yard is an extension of the home. Be sure that for each showing, your yard is freshly mowed and any debris, trash, or clutter (toys, tools, etc) are put away. A great way to make flower beds appear neat and well tended is to add mulch. Clean off sidewalks with a quick powerwash.

8. Add punches of seasonal color. Even if you aren't a garden guru, you can still plant low maintenance flowers in beds and pots. Some examples of low maintenance flowering plants are: petunias, pansies, and vincas.

9. A petless home. We all love our pets, sometimes like they're our own children. But they should be safely at a friend's house or kennel during showings. While you're at it, take your children and yourself out of the home during the showing as well!

10. Lock up your valuables. It would be nice to think that no potential buyer would steal from your home, but it could happen. Be sure that anything easily removed is locked away for safe keeping. And be sure that your real estate agent gets anyone's contact information before they are allowed into your home.

Article by Carla Hill

on Realty Times

Top 10 Tips for Staging a Home

Provided your home-for-sale has the curb appeal to get potential buyers inside, keeping them inside for a further look requires a staging strategy that sticks the deal.

HGTV's FrontDoor.com offers what it considers the Top 10 tips that can turn a languishing listing to a multiple offer attraction.

• Reclaim the yard. First impressions rule. Spruce up curb appeal by maintaining a clean yard, adding plants for a splash of color and applying a fresh coat of paint to the front door.

• Let the foyer flourish. The home portal sets the tone for the entire home. Make the space up-to-date, well-maintained and eye catching -- top to bottom.

• Back off beige. Don't let neutral colored walls dominate a room. Splashes of color liven up boring spaces. Throw pillows, artwork and fresh flowers add pops of color and personality.

• Cure kitchen craziness. Consistency pleases. All countertops and cabinets should match. New hardware, a new backsplash and a thorough cleaning can transform a bleak kitchen into one with smiles.

• Denude the dining room. De-cluttering and depersonalizing is the first rule of home staging. Homebuyers can have trouble envisioning themselves living in a home that's full of the seller's personal items.

• Avoid focal point faux-pas. Highlight the great features in a home by positioning furniture to highlight them. Windows, fireplaces and other architectural details will be noticed by a buyer if they are emphasized in the home correctly.

• Perk up the patio. The outdoor space is an extension of the home. Capture a higher selling price by cleaning and adding style to any outdoor space with furniture, lighting and accessories.

• Master the master suite. The best approach to staging is often working with existing accessories. Using what is already in the room and repositioning the furniture will highlight the room’s best features.

• Cure bathroom blues. Older vanities and dreadful wallpaper will make any bathroom feel outdated. Apply a fresh coat of neutral-hued paint and new hardware to modernize and brighten.

• Repurpose extra rooms. The value of a space decreases when homebuyers see a room without direction (think part office, part playroom, part home gym). Though almost every homeowner is guilty of having a "junk room," take sure to stage each room with a clear purpose before putting the home on the market.

Article by Broderick Perkins

on Realty Times

New home construction drops, but outlook brightens

NEW YORK (CNNMoney.com) -- New home construction fell to an 8-month low in June, but there were indications of increased activity in coming months, the government said Tuesday.

Housing starts fell 5% from May to a seasonally adjusted annual rate of 549,000 last month, the Commerce Department said. That was the lowest rate since October 2009.

Economists were expecting housing starts to fall to 575,000. On a year-over-year basis, starts sank 5.8% from June 2009.

"The housing industry remains stuck in a rut, with both sales and construction activity moribund," said Mike Larson, real estate analyst at Weiss Research. "Builders simply lack the confidence -- or in some cases, the financing -- to ramp up construction, especially in the wake of the home buyer tax credit's expiration."

But building permits, a gauge of future construction activity, rebounded last month, posting the first gain since March. Permits rose to a seasonally adjusted annual rate of 586,000 last month, up 2.1% from a revised 574,000 in May.

Economists expected permits to drop to 572,000. Permits were down 2.3% from June 2009.

"Cheap mortgage rates and cheap homes should help ease the housing market's pain," Larson said. "But until we see signs of life in the labor market, we're just not going to see a robust recovery -- only more malaise."

The monthly fall in housing starts followed a sharp drop in May, the first month after the end of a government tax incentive of up to $8,000 for homebuyers.

New construction of single-family homes, the key sector of the housing market, slipped 0.7% last month to an annual rate of 454,000.

The annual rate for new construction of multi-family homes -- buildings with 5 or more units -- was 88,000.

Article By By Hibah Yousuf

on CNN Money

Don't chase rates — find the right mortgage too

NEW YORK — For those who can qualify, it's one of the best times to get a mortgage.


Last week, rates for 30-year fixed-rate loans dropped to 4.57 percent, the lowest level on records dating back to 1971, Freddie Mac said.


And for some who missed out on the government's homebuying tax credit, the rates may more than make up for that lost $8,000.


"A tax credit is immediate gratification," said Leonard Baron, a professor of finance at San Diego State University, "but long-term, with rates this low, you can get much more value."
But which loan is right for you? The mortgage game has changed since the housing bust and more rules have been and are being added. One factor is for sure now: Your credit score should be at least 620 or you'll have a hard time finding a loan. What varies is how much you have for a downpayment.


Buyer No. 1: You have a 20-percent downpayment and expect to retire in the house.


Take out a 30-year fixed-rate loan, the most popular type of mortgage. The interest rate stays the same over the life of the loan and right now, that rate is at historical lows.


"This loan is for someone interested in stability and security," said John Stearns, mortgage banker at American Fidelity Mortgage Services Inc. in Mequon, Wisc.


Buyer No. 2: You have a 20-percent downpayment, but plan to move into another home down the road.


Consider a five-, seven- or 10-year adjustable-rate loan, which has a fixed rate for a set period and then adjusts higher after that time. These loans carry a lower initial interest rate than the 30-year fixed-rate, so you save money over the fixed-rate period. After the fixed-rate period ends, borrowers typically refinance into another loan to avoid the adjustable rate.


Rates on five-year adjustable-rate mortgages averaged 3.75 percent this week. That was the lowest on Freddie Mac's records, which date back to January 2005.
ARMs got a bad rap during the housing bust because most people who took out two- or three-year ARMs got caught with an unaffordable payment when their rates reset. They couldn't refinance into a fixed-rate loan because home prices had tanked and credit tightened up.
That risk still exists, but starting in September, lenders will have to evaluate whether borrowers can make payments after the rate reset on adjustable-rate loans backed by Fannie Mae.


Buyer No. 3: You have at least a 20-percent downpayment for a house worth more than $729,500.


You need a so-called jumbo loan which is not backed by Fannie Mae and Freddie Mac. That means any lender who makes a mortgage above that amount will have to keep the loan on its books.


To compensate for that risk, lenders charge higher interest rates than a conventional mortgage. The average rate for a 30-year fixed-rate jumbo loan fell to 5.48 percent this week, the lowest level ever in Bankrate.com's survey.


Buyer No. 4: You have more than a 20-percent downpayment.
Depending on how much you're putting down, you might consider a 20-year fixed-rate mortgage. Rates are sometimes, but not always, lower than a 30-year fixed-rate by about a quarter-point. However, because the loan term is shorter on the 20-year loan, the monthly payment will be higher than a 30-year mortgage.


For example, the monthly payment for a 20-year fixed-rate loan for $300,000 is $1,898. It's only $1,565 a month if the loan is 30 years. But over the life of the loan, you'll save about $108,000 in interest.


"Most people are interested in a lower monthly payment," Stearns said.


Buyer No. 5: You have less than a 20-percent downpayment.
Consider a mortgage insured by the Federal Housing Administration, or FHA. A borrower needs to put down only 3.5 percent of the purchase price.
After the housing market slumped, the FHA became the major source of funding for first-time homebuyers. It insured about 24 percent of new loans in the first quarter, according to Inside Mortgage Finance, a trade publication.


Or, consider a mortgage loan that isn't backed by the FHA, which only requires 5 percent down. However, you will pay mortgage insurance each month, which can add an extra $25 to $50 to your monthly payment depending on your credit score. Private mortgage insurance protects a lender against losses when a borrower defaults. If you have very good credit, this option may be cheaper.


Buyer No. 6: You have a gift downpayment.


While one in five first-time homebuyers used a gift from a relative or friend for a downpayment last year, there are some rules to navigate.


Gift money can be used for a downpayment on a conventional loan only after the borrowers use their own money to make the 5-percent minimum. Gift money can pay for closing costs or prepaid expenses like property taxes and insurance that are put into an escrow account. Banks typically check two months' worth of bank statements for unusually odd deposits that could be considered gifts. However, if the gift was deposited six months before, a bank might not notice.


However, FHA mortgages allow borrowers to use a gift to make the 3.5-percent minimum downpayment. The gift must be documented in writing and the lender may ask for proof of deposit.


Buyer No. 7: You don't have a downpayment.


Your options are limited.


If you are a veteran or the surviving spouse of one, consider a mortgage backed by the Department of Veteran Affairs. These loans offer 100 percent financing without private mortgage insurance at competitive mortgage rates.


If the home you're buying is in a rural area as defined by the U.S. Department of Agriculture, you may qualify for a USDA home loan, which offers 100 percent financing without adding on private mortgage insurance. The USDA aims to help lower-income households get home loans at reasonable rates.

Article by J.W. Elphinstone on

MSNBC