Selling your home? Make it more appealing to buyers

 

"The most important thing you can do is to make your home look welcoming when people drive by," says Kimber Powell, Realtor and sales manager for Coldwell Banker Mid-America Group in Altoona, Iowa.

"You want to invite them in. Make sure your front door looks nice. Trim and landscape your yard. Accent your entryway with a new door mat and pots of flowers that contrast with the color of your home," she says.

Follow these tips to position your house for a successful sale:

Enhance curb appeal

A well-maintained house appeals to more buyers and can sell faster and may sell for a higher price, according to Realtor.com.

Maximize your home's exterior appearance. Keep the lawn and landscaping edged, cut and watered. Inspect doors, windows, trim, foundation and siding for peeling paint. Repaint and replace items as needed. Clean out gutters and replace missing caulk and shingles.

Declutter inside

Make your home look bigger by removing clutter and storing personal items and extra furniture before prospective buyers arrive. Make repairs where needed, Powell advises.

"Repairs are ongoing maintenance needs that show your home has been well-cared-for and kept up-to-date," she says. "Most potential buyers want turn-key homes that are easy to move into."

Repaint dingy or stained walls with a neutral shade of paint. Repair cracks or holes in walls, ceilings, tile and woodwork. Replace broken items and consider updating worn-out cabinet knobs, dated curtains and battered bath and kitchen hardware.

Show lifestyle possibilities

Create a lifestyle story to help buyers envision themselves living in your home. Have a small kitchen but a big deck? Focus on outdoor entertaining by adding lights, comfy cushions and showcasing grilling areas, Powell recommends. If you love your neighborhood, highlight a front porch with wicker furniture and window boxes.

"You want to show buyers the ways they can use the entire home and yard," Powell says. "If you don't have outdoor furniture or decorations, work with a stager to borrow those items." Or consider borrowing items from friends or family to get your home staged for sale.

Highlight quality brands

If your home features or you've replaced items with high-quality brands, like Pella Windows and Doors, include their names in your home's sell sheet, Powell says.

"People are very conscious of name brands and high-quality products. They also want to know about energy-saving benefits and warranties that may transfer to them," she says.

Windows, door replacement

Projects like window and door replacements can recoup more than 70 percent of their cost at resale, according to the National Association of Realtors and Remodeling magazine's Remodeling Cost vs. Value Report.

Whether you're preparing your home to sell, or updating it to live in longer, Pella offers low-maintenance, energy-efficient vinyl, wood, and fiberglass replacement windows and doors that can help improve your home's curb appeal, and help lower utility bills.

"Stylish exterior doors that look like wood, with the minimal maintenance of fiberglass, are popular replacement options," says Kathy Krafka Harkema, Pella spokesperson. "Plus, fiberglass offers exceptional energy efficiency, weather resistance and outstanding durability."

Pella fiberglass entry doors offer many prefinished options, as well as custom colors so you can design a door that truly reflects your home's style.

Tips to navigate the real estate landscape and find the perfect home

 

Annette Lawrence, academic director of design programs, at The Art Institute of Ohio – Cincinnati, and Marissa Alexander, interior design program coordinator at The Art Institutes International Minnesota, offer these tips to navigate the real estate landscape.

Before you ever step out of your current home, make a list says Alexander. Your list should include one column for "must haves" and another for "wants." "The wants you can compromise on," advises Alexander. If you know what you are looking for and what you can't live without, it's a lot easier to find it.

Many people get caught up on the basic aesthetics of a home. "The paint is not a big deal," says Lawrence. "Countertops are not a reason to choose a home or cross it off your list." The shag carpeting can be ripped out and replaced. These are all easy fixes.

You should beware of the fixes that can break the bank. Will the roof need to be replaced? What about other big-ticket items like the heating and cooling system? Does the perimeter of the house slope toward it? That could mean flooding during a heavy rain. And what about the structural integrity of the foundation? A good inspector will spot the red flags and could keep you from making a costly mistake. That inspector will also check the chimney, the insulation in the attic and the gutters and spouts.

And there are things you can check on before you call in an inspector. "If you want to know whether a floor is warping, just take a ball and roll it across the room," says Alexander. If it doesn't roll straight across, it could signal issues with the foundation.

Figure out what kind of layout you want for your house. "Ask yourself what kind of floor plan you like," says Lawrence. "Those are the kinds of things that are costly to change." If the floor plan is right for you, the cosmetics will be a fairly easy and inexpensive fix.

While you may think that this home purchase will be one of many, you should consider the possibility that this could be your home for decades to come. That's why Lawrence is a big proponent of finding a home that allows you to "age in place." She suggests you find a home with a first floor master bedroom and laundry room. Also consider how many steps there are from the driveway into the home. Are the hallways and doorways wide enough for a wheelchair or a walker?

Even if you do not think you'll need these accommodations, consider your home's "visitability." If you have elderly relatives or friends with disabilities, are they going to be able to come to your new home? "My grandmother was one of my most frequent guests," explains Lawrence. "I had low lighting and had painted the walls dark colors. Consequently, she couldn't see too well when visiting."

Three questions to answer before you buy a home

 

Preparing to buy a home requires more than just a down payment. Before you purchase property, take time to understand your available mortgage options and balance your debt load. Thorough planning and smart budgeting now can help you avoid running into high debt or repayment problems down the road.
 

Farhaneh Haque, director of mortgage advice at TD Canada Trust, says that first time home buyers should answer three important questions before they start hitting any open houses this season.
 

• Do I understand the process? It never hurts to meet with a mortgage specialist to learn more about the home buying process and the different mortgage options available, such as fixed versus variable rate mortgages, flexible repayment schedules, and even mortgages that offer cash back. Before falling in love with a home, consider getting pre-approved so you know what you may be able to afford and avoid getting disappointed by falling in love with a home that is outside your price range.
 

• What is my personal debt load? If you have other obligations like a car payment or student loan, ensure you are taking on a mortgage that you can manage within your total budget. Try using an online debt management calculator to help determine how much debt you can reasonably take on based on your income, current debt payments and expenses.
 

• Can I afford my mortgage and save for the future? Sometimes home buyers take on more debt than they can manage and quickly find themselves "house poor" – with no money left for future savings or a rainy day. Before you take the leap into homeownership, crunch the numbers to ensure your budget reflects the lifestyle you want after you move into your new home, and you are clear on what sacrifices you may need to make to continue to live comfortably and save for your future.

Five things before purchasing a house

 

One of the main purchases you are going to make is buying a house. You have to think through all of your options before making the decision. Here are some of the things you need to know before you buy a house:

1) It is essential that you have good credit. You will most likely obtain a loan to buy a house. Thus, you should ensure that your credit is good for a smooth sailing application. It would be better to check your credit history frequently for your own security as well.

2) Prepare for long-term debts. Keep in mind that it will take years before you will be able to pay for the house completely. Ensure that you will be able to manage payment for the mortgage. Having a financial cushion is significant. Since the debt is long-term, anything can occur.

3) Most loans need a document from the appraiser so it is better to get their opinion when you see a potential house. The appraisers are experts in giving values to properties depending on the location, structure, features, and added extras to the house. This will stop any sales representative from over pricing the house.

4) It is very attractive to buy a beautiful house at a very cheap price. Before you decide on purchasing the beautiful house, ensure that it has a safe environment. Take note that one of the factors that make a house costly is good location. If you think that the price is much cheaper than it looks, the locations may not be that attractive. Ask the appraiser why the value is low. It could be that the neighborhood is not safe. These factors are very important in your decision-making.

5) Make sure that the house you choose suits your lifestyle. No matter how beautiful the house is, if it does not coincide with your behavior, you will not be comfortable in it. When you choose a house, make sure that it makes you feel at ease.

Your financial state is most important when planning to a buy a house. This makes it essential to monitor your credit on a regular basis. Finally, you have to learn as much as you can about the home before purchasing it.

by: Sheldon Kalnitsky

http://www.articlecity.com/articles/home_improvement/article_3792.shtml

With the right approach, former homeowners can get on the path to homeownership again

 

When the housing bubble burst, a staggering number of Americans were affected – 4.8 million borrowers lost a home to foreclosure while a further 2.2 million gave up their homes in short sales, according to national data by RealtyTrac. The recovery of the housing market has been slow, but the confidence of once-foreclosed-upon homeowners has grown along with it. Sixty-five percent of Americans in Fannie Mae's national monthly housing survey for April said they would rather buy a home rather than rent if they were going to move. With a new perspective on saving and making wise investments, many of those affected are now eager to get back to being homeowners.

Many former homeowners have learned difficult lessons, and their road back to homeownership will be signposted with challenges. However, it may be possible for them to regain their dreams. These tips from Wells Fargo, the nation's leading mortgage lender, may help set prospective buyers on the right path:

* Talk to a reputable lender about owning a home again. Having someone on your side to help you through the process is important, but it's essential that that person has the experience and knowledge to help you make an informed, affordable lending choice. An experienced lender can explain the time limits that affect buyers who faced foreclosure or short sale; there is generally a set amount of time that needs to pass before you're eligible to be considered again for mortgage approval. Wells Fargo has a mortgage presence in 2,358 locations including stand-alone mortgage stores and other business partner sites. Go to www.wellsfargo.com/mortgage to find a home mortgage consultant near you.

* Make an honest assessment of your credit situation. In the current mortgage approval environment, having a foreclosure or short sale on your financial record will affect what options you may have for loan approval. You can access your credit report from any of the three agencies by going to www.annualcreditreport.com; everyone is entitled to a free annual report. If you need help in making sense of your financial status and information on how to improve it, you can talk to a Wells Fargo Home Mortgage consultant about the My Home Roadmap(SM) service. Those enrolled in My Home Roadmap receive up to two hours of free, phone-based financial coaching from an accredited credit counseling agency, paid for by Wells Fargo. Enrollees also receive emails from Wells Fargo Home Mortgage consultants that provide useful tips and reminders on handling the financial responsibilities of homeownership.

* Prepare a down payment. Homebuyers re-entering the housing market after foreclosure or short sale typically need to have a down payment – in most cases 20 percent – ready before purchasing a home. In addition to those funds, think about additional expenses you might have to pay, such as closing costs. Showing the ability to handle the financial responsibilities of homeownership beyond the monthly mortgage payment like taxes, homeowner's insurance, utilities and other household expenses will be extremely important in achieving loan approval.

* Get preapproved. It's a good idea for prospective homebuyers, even those who are re-entering the market, to work with lenders who offer a pre-approval program. The preapproval process helps borrowers determine and understand their budget before diving into a home search, allowing them to shop more confidently.

Homeownership is still part of the American dream, even for those who've dealt with foreclosure. To ensure that your next home is your dream home, plan carefully, get help and take a proactive approach to answering the tough questions.