A Confluence of Positive Factors
The Wall Street Journal recently reported that home affordability is at its highest level in years; this degree of affordability becomes more apparent when compared to rent prices, which continue to rise across the country.
Meanwhile, ADP 's National Employment Report showed another month of strong job growth, with the private-sector adding 206,000 new jobs for November. Accelerating job growth usually portends a strong (at least stronger) economy.
Accelerating job growth combined with a historically high affordability index suggests to us that this is the near-perfect time to buy or refinance a home, because we doubt that affordability will remain this high at the end of 2012.
The fact is that bloated inventory levels are falling, and falling inventory in many markets has spurred bidding wars. As the economy continues to improve, inventory will become less bloated and prices and financing costs will rise. It's always worth remembering that the best time to buy is when enough clouds remain to permeate the market with at least some pessimism, because the best deals are only found when the future is still clouded by uncertainty. When the clouds clear, so will the high affordability index.
Today, we have low home prices, low mortgage rates, and more job growth. In our opinion, this is the perfect time to buy or refinance, because continued job growth, a rising stock market, and a growing economy means higher home prices and higher lending rates in the future.
Monday, December 5, 2011
Tuesday, November 1, 2011
What is a Short Sale? Why do it?
A Short Sale is when the lender of record agrees to discount their payoff on the sale of a house when:
The borrower has experienced hardship and is unable to repay the mortgage.
The value is proven to be less than the amount needed to pay off all loans, encumbrances and real estate selling costs.
The loan is delinquent or in default.
Often a house in which the proceeds of a sale will fall short of what the home owner still owes on the mortgage, lenders will accept the lesser proceeds as a short sale. By doing this the lender forgives the balance of the mortgage and thereby avoids a lengthy and costly foreclosure procedure.
How do Sellers Benefit from a Short Sale?
The seller can avoid having a “foreclosure” on their credit report. Most lenders tend to report “settled” upon successful closing of a short sale.
Assuming the seller is already not making mortgage payments, they can continue to live in the property and not make payments during the lengthy short sales
Most sellers feel it is the “right thing to do” when in default. They tend to feel that walking away from the house is irresponsible. It’s a respectable option
A Short Sale is when the lender of record agrees to discount their payoff on the sale of a house when:
The borrower has experienced hardship and is unable to repay the mortgage.
The value is proven to be less than the amount needed to pay off all loans, encumbrances and real estate selling costs.
The loan is delinquent or in default.
Often a house in which the proceeds of a sale will fall short of what the home owner still owes on the mortgage, lenders will accept the lesser proceeds as a short sale. By doing this the lender forgives the balance of the mortgage and thereby avoids a lengthy and costly foreclosure procedure.
How do Sellers Benefit from a Short Sale?
The seller can avoid having a “foreclosure” on their credit report. Most lenders tend to report “settled” upon successful closing of a short sale.
Assuming the seller is already not making mortgage payments, they can continue to live in the property and not make payments during the lengthy short sales
Most sellers feel it is the “right thing to do” when in default. They tend to feel that walking away from the house is irresponsible. It’s a respectable option
Wednesday, October 26, 2011
Things to Consider When Purchasing a Home
There are many issues to evaluate when considering a home purchase including what you can afford, what kind of loan best suits you, the property itself and once you find your dream house, how much you are willing to pay for it.
How Much Can You Afford?
Before starting your search for a home, you must decide how much you can afford. Generally speaking, it is recommended that the down payment be a minimum of 5-20% of the purchase price. In addition, there are two other standard thresholds to consider in terms of how much of your monthly income should be spent on housing.
• Your total housing costs (mortgage, interest, property taxes, insurance) should not exceed 28% of your income.
• The combination of your housing costs and all other monthly debt (car loans, student loans, etc.) should not exceed 36% of your income.
There are many issues to evaluate when considering a home purchase including what you can afford, what kind of loan best suits you, the property itself and once you find your dream house, how much you are willing to pay for it.
How Much Can You Afford?
Before starting your search for a home, you must decide how much you can afford. Generally speaking, it is recommended that the down payment be a minimum of 5-20% of the purchase price. In addition, there are two other standard thresholds to consider in terms of how much of your monthly income should be spent on housing.
• Your total housing costs (mortgage, interest, property taxes, insurance) should not exceed 28% of your income.
• The combination of your housing costs and all other monthly debt (car loans, student loans, etc.) should not exceed 36% of your income.
Friday, July 15, 2011
Wednesday, July 13, 2011
Selling Tip. De-Clutter!
we collect an amazing quantity of junk. Consider this: if you haven't used it in over a year, you probably don't need it. I know maybe someday you will need it, but moving time is let go time.
If you don't need it, donate it or throw it away?
Think of this process as a head-start on the packing you will eventually need to do anyway.
we collect an amazing quantity of junk. Consider this: if you haven't used it in over a year, you probably don't need it. I know maybe someday you will need it, but moving time is let go time.
If you don't need it, donate it or throw it away?
Think of this process as a head-start on the packing you will eventually need to do anyway.
Wednesday, June 15, 2011
Looking for a great way to enhance the saleability of your home? Head outdoors, if you love the great outdoors, you’re not alone. Outdoor living is one of the fastest-growing segments of the remodeling market.
One reason that outdoor living is so popular is that it expands living area at minimal cost. Leading the way to this low-cost pursuit of leisure is the patio. Maybe you should consider this for your home.
One reason that outdoor living is so popular is that it expands living area at minimal cost. Leading the way to this low-cost pursuit of leisure is the patio. Maybe you should consider this for your home.
Monday, June 13, 2011
Need to re-shingle your roof consider dimensional shingles. They add teture to your home and buyers like them. Some big names are Certainteed, Owens Corning, Atlas. A decent 30 to 35 year (warranty) shingle is going anywhere from 75-85 dollars a bundle. This is just for the shingles. Typically a bundle of shingles cover about 33 square feet if you want to give yourself some kind of idea on a price you will be looking at.
Friday, June 10, 2011
Wednesday, June 8, 2011
A USDA Rural Development meeting on Guaranteed Housing Loans.
It was very informative and provided some new insights into the USDA GRH program for the rest of this year and into the future.
Here are some of the highlights:
USDA GRH is still one of the only programs to allow buyers to purchase a home with 100% financing. VA is the only other program that will allow for 100% financing.
There is no maximum purchase price with RGH, no reserve requirement, and it is not limited to 1st time home buyers
Borrowers with credit scores as low as 620 can be accepted into this program
Borrowers can use RGH loans for new construction, purchasing ½ of a zero lot line duplex, and one unit condos
There WILL be plenty of USDA funds available to guarantee all GRH purchases for fiscal year 2011
USDA RGH will have $24 billion in available funds for fiscal year 2012 (beginning October 1, 2011)
It was very informative and provided some new insights into the USDA GRH program for the rest of this year and into the future.
Here are some of the highlights:
USDA GRH is still one of the only programs to allow buyers to purchase a home with 100% financing. VA is the only other program that will allow for 100% financing.
There is no maximum purchase price with RGH, no reserve requirement, and it is not limited to 1st time home buyers
Borrowers with credit scores as low as 620 can be accepted into this program
Borrowers can use RGH loans for new construction, purchasing ½ of a zero lot line duplex, and one unit condos
There WILL be plenty of USDA funds available to guarantee all GRH purchases for fiscal year 2011
USDA RGH will have $24 billion in available funds for fiscal year 2012 (beginning October 1, 2011)
Thursday, May 12, 2011
One of the least desired resale upgrades. Whirlpool baths, and indoor hot tubs
Once considered chic, these are now often seen as just expensive, energy-guzzling extras. But boy can they sooth an sore back.
A surprising top ten resale upgrade. The Front porch
Two or three decades ago, tearing off front porches became fashionable, but now they're back in a big way. If you can, add a full front porch (or replace/repair the one you have if it isn't in top condition)
Once considered chic, these are now often seen as just expensive, energy-guzzling extras. But boy can they sooth an sore back.
A surprising top ten resale upgrade. The Front porch
Two or three decades ago, tearing off front porches became fashionable, but now they're back in a big way. If you can, add a full front porch (or replace/repair the one you have if it isn't in top condition)
Wednesday, April 20, 2011
Monday, April 18, 2011
Wednesday, April 6, 2011
Want to sell your home? Bake something that smells wonderful just before the house is shown. Baked cookies with chocolate leaves a great aroma in the house. Leave a couple out with a note for sampling. Baked bread is the old standby. Or try a sauce with fresh herbs and let it simmer just before they arrive so the rich smells permeate the air. Remember baking does not mean you don't have to clean, clean , clean.
Friday, April 1, 2011
Consider having an inspection before you list your home. An inspection can break a deal. Even after they've fallen in love with your house, a buyer may decide foundation issues or faulty electrical are too much of a headache. The benefits of having an inspection done prior to listing is your buyers will be aware of what repairs are needed before they make an offer or you can choose to address these repairs and removed from the problems altogether.
Thursday, March 31, 2011
When it comes to selling homes this spring, buyers are still around, but sellers need to be aware of the fact that home buyers are looking for more value for their money than they once were. The simple fact that there are some many homes on the market for buyers to choose from has resulted in many home buyers becoming extremely picky. As a result, if a home seller wants to move their home in this market, they must learn to be flexible when it comes to matters of money and time. Let me guide you through the process. Scott Larson Realtor Monroe, WI. 608-214-9844 greencountyhomeguide.com
Tuesday, March 22, 2011
Wednesday, March 9, 2011
Don’t let the Realtor buy your listing
This is fairly common occurrence. Realtors are fighting to get listings and they could tell you an unrealistic price for your home just so they list with you. Realtors either know that they are doing this or they are just horrible at pricing property. Make any agent you interview substantiate their valuation with market facts, data and trends. Often times, the Realtor with the lowest valuation is your best choice because they are most honest or most in tune with the market. Call Scott to give you an honest evaluation of your home. 608-214-9844
This is fairly common occurrence. Realtors are fighting to get listings and they could tell you an unrealistic price for your home just so they list with you. Realtors either know that they are doing this or they are just horrible at pricing property. Make any agent you interview substantiate their valuation with market facts, data and trends. Often times, the Realtor with the lowest valuation is your best choice because they are most honest or most in tune with the market. Call Scott to give you an honest evaluation of your home. 608-214-9844
Need a Realtor, hire the biggest producer?
Don’t assume that the highest producer is the best Realtor or gives the best service. Would you rather work with a good Realtor who has forty listings or a good Realtor that has ten? You probably will end up with better service with the Realtor that spread between only 10 listings. That is not always the case but this is what you can uncover when you interview them. A good Realtor works for you, not themselves. They make it their goal to find ways to make your plans a reality. Call Scott Larson today and give him an interview. 608-214-9844
Don’t assume that the highest producer is the best Realtor or gives the best service. Would you rather work with a good Realtor who has forty listings or a good Realtor that has ten? You probably will end up with better service with the Realtor that spread between only 10 listings. That is not always the case but this is what you can uncover when you interview them. A good Realtor works for you, not themselves. They make it their goal to find ways to make your plans a reality. Call Scott Larson today and give him an interview. 608-214-9844
Tuesday, March 8, 2011
What is an Earnest Money Deposit?
It's a good faith deposit but not to be confused with a down payment. When buyers execute a purchase contract, the contract specifies how much money the buyer is initially putting up to secure the contract, to show "good faith," and how much money all together will be deposited as a down payment. The balance is generally financed as a mortgage or a combination of mortgages. An earnest money deposit says to the seller: "Yes, I am serious enough about buying your house that I'm willing to put my money where my mouth is."
It's a good faith deposit but not to be confused with a down payment. When buyers execute a purchase contract, the contract specifies how much money the buyer is initially putting up to secure the contract, to show "good faith," and how much money all together will be deposited as a down payment. The balance is generally financed as a mortgage or a combination of mortgages. An earnest money deposit says to the seller: "Yes, I am serious enough about buying your house that I'm willing to put my money where my mouth is."
Friday, March 4, 2011
Something I saw from a fellow blogger that I thought would be interesting
Times have changed drastically over the last several years. Many people have been forced to move back home with their parents after college due to a lack of job prospects or too much debt. Other people have made the choice to have their parents or other older relatives move in due to health problems. But these issues usually require extra space that may not be readily available. Thanks to the FHA 203K loan, people can now finance the home addition that they need.
Basics of FHA 203k Loans
Up until recently, people that wished to add on to their home or make extensive remodeling repairs either paid cash for the project or borrowed money from the equity in their home. The problem arose when people did not have sufficient equity to cover the excess cost. But the FHA 203k will allow people to refinance their existing loan and get an extra $35,000 to use for home repair or remodeling ($35,000 max for the streamline FHA 203k program. If you need more, ask about the full 203k).
FHA 203k Loan Requirements
The FHA 203k loan is set up in such a way that the borrower, as well as the lender is protected throughout the whole process. In order to get approved for the loan a licensed contractor will need to submit an estimate of the anticipated renovations. An appraiser will need to review the proposal and make an estimate as to the new value of the property after the remodel is complete. As an extra precaution the money used for the rehab work will be held in escrow until the contractor is finished.
For those individuals that have simply outgrown their existing space, this is a very affordable way to stay in their current home and make necessary additions. People that are now caring for elderly relatives in their own home will also appreciate the ability to use some funds to increase accessibility to the home for handicapped persons.
Please visit our FHA 203k loan page for additonal program details or contact me below.
Your local Wisconsin, Illinois, Minnesota and Florida mortgage banker
Dennis Hardy
NMLS ID 229455
Phone: 877-240-5810
dennis.hardy@madisonmortgageguys.com
www.madisonmortgageguys.com
Times have changed drastically over the last several years. Many people have been forced to move back home with their parents after college due to a lack of job prospects or too much debt. Other people have made the choice to have their parents or other older relatives move in due to health problems. But these issues usually require extra space that may not be readily available. Thanks to the FHA 203K loan, people can now finance the home addition that they need.
Basics of FHA 203k Loans
Up until recently, people that wished to add on to their home or make extensive remodeling repairs either paid cash for the project or borrowed money from the equity in their home. The problem arose when people did not have sufficient equity to cover the excess cost. But the FHA 203k will allow people to refinance their existing loan and get an extra $35,000 to use for home repair or remodeling ($35,000 max for the streamline FHA 203k program. If you need more, ask about the full 203k).
FHA 203k Loan Requirements
The FHA 203k loan is set up in such a way that the borrower, as well as the lender is protected throughout the whole process. In order to get approved for the loan a licensed contractor will need to submit an estimate of the anticipated renovations. An appraiser will need to review the proposal and make an estimate as to the new value of the property after the remodel is complete. As an extra precaution the money used for the rehab work will be held in escrow until the contractor is finished.
For those individuals that have simply outgrown their existing space, this is a very affordable way to stay in their current home and make necessary additions. People that are now caring for elderly relatives in their own home will also appreciate the ability to use some funds to increase accessibility to the home for handicapped persons.
Please visit our FHA 203k loan page for additonal program details or contact me below.
Your local Wisconsin, Illinois, Minnesota and Florida mortgage banker
Dennis Hardy
NMLS ID 229455
Phone: 877-240-5810
dennis.hardy@madisonmortgageguys.com
www.madisonmortgageguys.com
As we approach the edge of winter, and arrive upon the edge of spring, thoughts of selling your home tends to become stronger. March is here already, and if you are considering selling your home, you might want to do now
In my area, we are still experiencing a buyers market. Inventory is still up with more homes being added to the mix daily.
Be the tiger, attack your home selling plan with a purpose. Get the house ready and on the market before you have more competition to contend with. Get it ready to sell. Here are some tips that will get it ready to sell:
* Paint will go a long way to improving your homes appeal. Lighter more neutral colors are a safer choice, the brighter, bolder colors do not appeal to the masses.
* Don't forget to look up and paint the ceilings if needed.
* Clean your carpets, or replace them if they are in bad condition.
* Clean everything, and de-clutter as much as possible.
* Make space in your closets by removing any clothing that will not be needed until you move.
* Pack anything you do not need and label the boxes. When It comes time to move, you will be one step ahead of the packing process. Rent a storage unit to hold these items and extra furniture
* General repairs like dripping faucets, cracked molding, squeaky doors, anything that is broken or loose should be fixed.
In my area, we are still experiencing a buyers market. Inventory is still up with more homes being added to the mix daily.
Be the tiger, attack your home selling plan with a purpose. Get the house ready and on the market before you have more competition to contend with. Get it ready to sell. Here are some tips that will get it ready to sell:
* Paint will go a long way to improving your homes appeal. Lighter more neutral colors are a safer choice, the brighter, bolder colors do not appeal to the masses.
* Don't forget to look up and paint the ceilings if needed.
* Clean your carpets, or replace them if they are in bad condition.
* Clean everything, and de-clutter as much as possible.
* Make space in your closets by removing any clothing that will not be needed until you move.
* Pack anything you do not need and label the boxes. When It comes time to move, you will be one step ahead of the packing process. Rent a storage unit to hold these items and extra furniture
* General repairs like dripping faucets, cracked molding, squeaky doors, anything that is broken or loose should be fixed.
Monday, February 21, 2011
Sellers need to make sure they pick an agent who's educated about the current real estate market, NOT the one who is going to tell them what they want to hear, like a high asking price not supported by the comparables. In today's real estate market buyers are NOT going to over pay for a home and if they need financing their lender is going to make sure they are not over paying by having an appraisal done. Call Scott for more help at 608-214-9844
Wednesday, February 16, 2011
The field of real estate is loaded with land mines. You need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a buyer willing to pay fair market value for your home at a time that there are mass inventories of foreclosures and short sales will take a true real estate professional. Finding reasonable financing can also be tricky in today’s lending environment.
Allow me to help you navigate the shifting sands of realestate.
Allow me to help you navigate the shifting sands of realestate.
Reason #4 Why buy NOW?
Your Dream Home Will Never Be Cheaper
If your family goal is to sell your current house and take advantage of the fabulous selection of properties currently available to buy the home of your dreams, DO IT NOW! Prices will continue to soften in most markets. However, if you are buying, COST should be more important than PRICE. Cost can be dramatically impacted by rising mortgage interest rates. Do the math and decide if now is the time.
Your Dream Home Will Never Be Cheaper
If your family goal is to sell your current house and take advantage of the fabulous selection of properties currently available to buy the home of your dreams, DO IT NOW! Prices will continue to soften in most markets. However, if you are buying, COST should be more important than PRICE. Cost can be dramatically impacted by rising mortgage interest rates. Do the math and decide if now is the time.
Tuesday, February 15, 2011
Buying a home? What repairs is the home in need of? This is a question that many buyers do not stop to think about until the home is purchased and they are moving in. Your Realtor should suggest on the offer to purchase that you hire a home inspector. In many cases, an inspection will catch hidden flaws that the eye can’t see, but even an inspector might miss something. Be careful when you are buying homes that you do not get into something that is more work than it is worth. You are making a huge investment and you do not want to spend all that money on something that will cost you thousands to repair.
Call Scott Larson of Towne Square Realtors for assistance 608-214-9844
Call Scott Larson of Towne Square Realtors for assistance 608-214-9844
Reason #4 Why use a Realtor
Paperwork by the volumes is part of the job description of the Realtor. If anyone tells you they do not have to go through a lot of paperwork they would be lying. Volumes of papers must be gone through to make everything is perfect before a contract can be executed. This is a part of our job that is very time consuming. Many people would not choose handle this and that is why they hire a professional to take care of it.
Paperwork by the volumes is part of the job description of the Realtor. If anyone tells you they do not have to go through a lot of paperwork they would be lying. Volumes of papers must be gone through to make everything is perfect before a contract can be executed. This is a part of our job that is very time consuming. Many people would not choose handle this and that is why they hire a professional to take care of it.
Thursday, February 10, 2011
Wednesday, February 9, 2011
If you are painting for resale here's what new for 2011
It’s amazing how colors can both affect our mood and represent the world around us at the same time.
Four trends :
Farm
Order
Escape
Tribe
I’ll do my best to describe them here.
Farm
Yes, there is a return to farm-inspired colors. It mirrors society’s need to get back-to-basics.
Think cow prints, textured hay and burlap feedbags, and the creative the use of repurposed farm tools.
You’ll see tea-stained colors for a rustic tie-dye effect. Imagine the vibrant colors of fruits and vegetables at your local farm stand. Yes, those peas/corn/carrots from the 70’s are coming back!
Whites will become milkier, and you’ll see more butter yellow and creams. And green will still be hot.
Earthy soil will replace the cooler gray tones as the strong neutral.
Oak cabinets will come back in vogue.
You’ll even see more stencils, needlepoint and yes…even macramé plant hangers.
Order
It’s easy to see how this trend reflects on today’s need to find order in the chaos of the day.
Look for minimalistic, geometric, stacking, sort of a modern Puritanism influence.
The use of outlining gives structure, bright stripes and polka dots are easily defined.
Primary colors are coming back, but look for the use of monochrome color schemes to continue.
Black and white with pops of color (primary especially) will be in.
Escape
If getting back to the farm, or find order in chaos don’t work for you, how about escaping from reality?
A translucent, soft retro feeling that inspires elegant fantasies and fairy tales.
Angelic clouds form a veil of wonder. Lots of frosted, pearl and satin finishes. Pink becomes the new red in this trend.
Tribe
As we simplify our lives and get back to what’s core to our values, it only makes sense that there will be a renewed importance place on communities, or tribes.
Imagine rich orange and berry hues paired with spicy browns and bronze metallic.
Tribal accents such as community-inspired sketch’s, beads and new textures will be key elements in this trend.
It’s amazing how colors can both affect our mood and represent the world around us at the same time.
Four trends :
Farm
Order
Escape
Tribe
I’ll do my best to describe them here.
Farm
Yes, there is a return to farm-inspired colors. It mirrors society’s need to get back-to-basics.
Think cow prints, textured hay and burlap feedbags, and the creative the use of repurposed farm tools.
You’ll see tea-stained colors for a rustic tie-dye effect. Imagine the vibrant colors of fruits and vegetables at your local farm stand. Yes, those peas/corn/carrots from the 70’s are coming back!
Whites will become milkier, and you’ll see more butter yellow and creams. And green will still be hot.
Earthy soil will replace the cooler gray tones as the strong neutral.
Oak cabinets will come back in vogue.
You’ll even see more stencils, needlepoint and yes…even macramé plant hangers.
Order
It’s easy to see how this trend reflects on today’s need to find order in the chaos of the day.
Look for minimalistic, geometric, stacking, sort of a modern Puritanism influence.
The use of outlining gives structure, bright stripes and polka dots are easily defined.
Primary colors are coming back, but look for the use of monochrome color schemes to continue.
Black and white with pops of color (primary especially) will be in.
Escape
If getting back to the farm, or find order in chaos don’t work for you, how about escaping from reality?
A translucent, soft retro feeling that inspires elegant fantasies and fairy tales.
Angelic clouds form a veil of wonder. Lots of frosted, pearl and satin finishes. Pink becomes the new red in this trend.
Tribe
As we simplify our lives and get back to what’s core to our values, it only makes sense that there will be a renewed importance place on communities, or tribes.
Imagine rich orange and berry hues paired with spicy browns and bronze metallic.
Tribal accents such as community-inspired sketch’s, beads and new textures will be key elements in this trend.
Thursday, February 3, 2011
BENEFITS OF BUYER AGENCY AND WORKING WITH A BUYER AGENT
When we enter into a buyer agency agreement together, we are required to serve you as our client. As our client, you receive a number of benefits, including:
1. We act as your advisor, by providing you with information and advice on the real estate matters that affect your transaction.
2. We protect and advance your best interests. When you are our sole client, we work for you. We don't provide advice to any other parties in your transaction. Our number one job is to serve your interests and your goals.
3. We negotiate for you and carry out your negotiation according to your directions. We help you formulate your strategy by providing you with the information, research and advice that is relevant to your purchase.
When we enter into a buyer agency agreement together, we are required to serve you as our client. As our client, you receive a number of benefits, including:
1. We act as your advisor, by providing you with information and advice on the real estate matters that affect your transaction.
2. We protect and advance your best interests. When you are our sole client, we work for you. We don't provide advice to any other parties in your transaction. Our number one job is to serve your interests and your goals.
3. We negotiate for you and carry out your negotiation according to your directions. We help you formulate your strategy by providing you with the information, research and advice that is relevant to your purchase.
WHAT IS A BUYER AGENCY AGREEMENT?
Buyer agency is a service agreement that you enter into with the brokerage of the Realtor who is assisting you with the purchase of your home. The agreement is voluntary. Among other things, it clarifies the relationship between you and your Realtor's brokerage and outlines the duties that are owed to you, the client.
Buyer agency is a service agreement that you enter into with the brokerage of the Realtor who is assisting you with the purchase of your home. The agreement is voluntary. Among other things, it clarifies the relationship between you and your Realtor's brokerage and outlines the duties that are owed to you, the client.
Tip #5 Getting things ready to sell your home. Here are some of the things I recommend locking away or packing up include:
* Jewelry
* Cash (I have walked into a house and seen a lot of cash laying on a table, out in the open)
* Prescription Drugs (These have become a high theft item)
* Guns ( A loaded handgun may be your protection in the nightstand, but not for the kid of a customer walking through a showing)
* Collectibles ( You don't want to see it show up on Antiques Roadshow)
* Jewelry
* Cash (I have walked into a house and seen a lot of cash laying on a table, out in the open)
* Prescription Drugs (These have become a high theft item)
* Guns ( A loaded handgun may be your protection in the nightstand, but not for the kid of a customer walking through a showing)
* Collectibles ( You don't want to see it show up on Antiques Roadshow)
Tuesday, February 1, 2011
Now let‘s take a look at the home buying process for 2010
41% of all homes sold were on the market for less than one month
17% of all buyers purchased a home for less than 90 percent asking price
11% of all buyers purchased a home for more than 100% asking price
81% of all buyers were satisfied with the homebuying process
40% of all purchasers found the mortgage process more difficult than expected
92% of all purchasers were not rejected by a single lender
95% of all purchasers got a fixed-rate mortgage.
85% of all purchases are re-sales (78% in 2006).
12 miles was the average distance between current residence and new home
41% of all homes sold were on the market for less than one month
17% of all buyers purchased a home for less than 90 percent asking price
11% of all buyers purchased a home for more than 100% asking price
81% of all buyers were satisfied with the homebuying process
40% of all purchasers found the mortgage process more difficult than expected
92% of all purchasers were not rejected by a single lender
95% of all purchasers got a fixed-rate mortgage.
85% of all purchases are re-sales (78% in 2006).
12 miles was the average distance between current residence and new home
Wednesday, January 26, 2011
Dress-up a home to sell.
A great way to add to the style of your home is by adding budget-friendly crown moulding. It is essential to choose the proper style of crown moulding for this do-it-yourself project. Sometimes people hesitate to try crown moulding, because the corners need to be cut at an angle, but with the right advice, it can be an easy project that will help sell your home
Deciding on what designs will compliment your house, regardless of whether they are plain or fancy is a good idea.
A great way to add to the style of your home is by adding budget-friendly crown moulding. It is essential to choose the proper style of crown moulding for this do-it-yourself project. Sometimes people hesitate to try crown moulding, because the corners need to be cut at an angle, but with the right advice, it can be an easy project that will help sell your home
Deciding on what designs will compliment your house, regardless of whether they are plain or fancy is a good idea.
Thinking of finishing your basement? You should consider the value it will give to your property. This will be great especially if you are thinking of selling your home in the future. Features like family rooms are attractive to buyers.
Come up with a budget. This is very important because this will play a major role in your design plan. There are projects that are cheaper than the others. However, you have to be more realistic if you want to achieve a desirable look for your basement. Bear in mind that you will not only purchase materials, you might need to buy new furniture as well. You should also include labor and unexpected expenses that you might incur during the transformation.
Plan your project. The planning stage is very important. Draw a design plan of how you want the basement to look after you are done with the project. Be as detailed-oriented as you can. What are the colors of the walls? What are the types of drapes do you want? You should also take note of the measurements of the space so that you will be able to purchase the right size of furniture.
See to it that you have a schedule too. When are you going to purchase the materials? When are you planning to start the project? Most importantly, when is it due?
Make the essential preparations. Aside from the budget and the shopping, you should also find out if you need to acquire permit for the transformation of your basement. You can call your local government to ask about this. Normally, you will be asked to secure a permit if there are major changes in the in the floor plan of the property as well as with its major systems like electrical and water lines.
After you have prepared everything, it is time to review your overall plan and make it happen. Empty the room and follow your schedule. if you have prepared everything, you should be able to carry out your plan without a problem.
Come up with a budget. This is very important because this will play a major role in your design plan. There are projects that are cheaper than the others. However, you have to be more realistic if you want to achieve a desirable look for your basement. Bear in mind that you will not only purchase materials, you might need to buy new furniture as well. You should also include labor and unexpected expenses that you might incur during the transformation.
Plan your project. The planning stage is very important. Draw a design plan of how you want the basement to look after you are done with the project. Be as detailed-oriented as you can. What are the colors of the walls? What are the types of drapes do you want? You should also take note of the measurements of the space so that you will be able to purchase the right size of furniture.
See to it that you have a schedule too. When are you going to purchase the materials? When are you planning to start the project? Most importantly, when is it due?
Make the essential preparations. Aside from the budget and the shopping, you should also find out if you need to acquire permit for the transformation of your basement. You can call your local government to ask about this. Normally, you will be asked to secure a permit if there are major changes in the in the floor plan of the property as well as with its major systems like electrical and water lines.
After you have prepared everything, it is time to review your overall plan and make it happen. Empty the room and follow your schedule. if you have prepared everything, you should be able to carry out your plan without a problem.
Sold your home and ready to move. If you decide to hire a moving company to do the moving for you, you will be rewarded with ease and comfort. You will feel relaxed in the whole process; there will be less stress and anxiety. People in the know of these things will help you do the tedious things of packing and loading and unloading. These are experts in moving, so you will not have to worry about you stuffs; they will be handled properly.
And what is more is that these people will help you in the arrangement of your stuffs once they are unloaded. This can make the setting up easier for you. The heavy stuffs can be positioned in their places according to your wish with the help of these expert movers. You will be spared of the sweats and the huffs and puffs of the activity. All you need to do is point to places where you want your stuffs to be positioned; and before you know it, you are done with your moving. Call me for a list of area movers. Scott Larson 608-214-9844
And what is more is that these people will help you in the arrangement of your stuffs once they are unloaded. This can make the setting up easier for you. The heavy stuffs can be positioned in their places according to your wish with the help of these expert movers. You will be spared of the sweats and the huffs and puffs of the activity. All you need to do is point to places where you want your stuffs to be positioned; and before you know it, you are done with your moving. Call me for a list of area movers. Scott Larson 608-214-9844
Tuesday, January 25, 2011
3 Reasons to Sell a Home Soon
What do you tell a client who asks whether to sell a house now or wait? Steve McLinden, real estate adviser with Bankrate.com, offers these three good reasons not to wait, even though the holidays are approaching:
1. The market is improving. Most markets have either turned or are close to turning.
2. All real estate is local. Homes in great locations are always in demand.
3. Spring is coming soon. Many potential buyers are starting their online searches right after the holidays, making mid- to late February a great time to start marketing.
Source: Bankrate.com, Steve McLinden
What do you tell a client who asks whether to sell a house now or wait? Steve McLinden, real estate adviser with Bankrate.com, offers these three good reasons not to wait, even though the holidays are approaching:
1. The market is improving. Most markets have either turned or are close to turning.
2. All real estate is local. Homes in great locations are always in demand.
3. Spring is coming soon. Many potential buyers are starting their online searches right after the holidays, making mid- to late February a great time to start marketing.
Source: Bankrate.com, Steve McLinden
Improve Your Credit Score
Suggestions on what you can do right now
A credit score reflects credit payment patterns over time, with more emphasis on recent information. Ways to improve a credit score generally include the following:
• Pay your bills on time. Delinquent payments and collections can have a major negative impact.
• Keep balances low on credit cards and other "revolving credit." High outstanding debt can affect a credit score.
• Apply for and open new credit accounts only as needed. Don’t open accounts just to have a better credit mix. It probably won’t improve your credit score.
• Pay off debt rather than moving it around. Also, don’t close unused cards as a short-term strategy to improve your credit score. Owing the same amount but having fewer open accounts may lower your credit score.
Suggestions on what you can do right now
A credit score reflects credit payment patterns over time, with more emphasis on recent information. Ways to improve a credit score generally include the following:
• Pay your bills on time. Delinquent payments and collections can have a major negative impact.
• Keep balances low on credit cards and other "revolving credit." High outstanding debt can affect a credit score.
• Apply for and open new credit accounts only as needed. Don’t open accounts just to have a better credit mix. It probably won’t improve your credit score.
• Pay off debt rather than moving it around. Also, don’t close unused cards as a short-term strategy to improve your credit score. Owing the same amount but having fewer open accounts may lower your credit score.
Monday, January 17, 2011
Friday, January 14, 2011
How low should I make my offer? Have your realtor provide you with comps for the area so you have an accurate picture of value, then offer what you want to offer. You never know the situation of the seller or what type of motivation they are under. You hold the checkbook, so you make the call. Just make it an educated call by utilizing the expertise of your realtor.
Thursday, January 13, 2011
Improve Your Credit Score
Improve Your Credit Score
Suggestions on what you can do right now
A credit score reflects credit payment patterns over time, with more emphasis on recent information. Ways to improve a credit score generally include the following:
· Pay your bills on time. Delinquent payments and collections can have a major negative impact.
· Keep balances low on credit cards and other "revolving credit." High outstanding debt can affect a credit score.
· Apply for and open new credit accounts only as needed. Don’t open accounts just to have a better credit mix. It probably won’t improve your credit score.
· Pay off debt rather than moving it around. Also, don’t close unused cards as a short-term strategy to improve your credit score. Owing the same amount but having fewer open accounts may lower your credit score.
Know which items can improve credit scores the most
· Paying your bills on time is the single most important contributor to a good credit score. Even if the debt you owe is a small amount, it is crucial that you make payments on time.
· Minimize outstanding debt, avoid overextending yourself and refrain from applying for credit needlessly. Applications for credit show up as inquiries on your credit report, indicating to lenders that you may be taking on new debt. It may be to your advantage to use the credit you already have to prove your ongoing ability to manage credit responsibly.
· Pay your bills and wait. If you do have negative information on your credit report, such as late payments, a public record item (e.g., bankruptcy) or too many inquiries, you may want to pay your bills and wait. Time is your ally in improving your credit scores. There is no quick fix for bad credit scores.
One common question that many consumers have regarding their credit score involves understanding how very specific actions will affect it. However, it is impossible to provide a completely accurate assessment of how one specific action will affect a person’s credit score. For example, someone might ask if closing two of his or her revolving accounts would improve his or her credit score. While this question may appear to be easy to answer, there are many factors to consider. Simply closing two accounts not only lowers the number of open revolving accounts (which generally will improve credit scores), but it also decreases the total amount of available credit. That results in a higher utilization rate, also called the balance-to-limit ratio (which generally lowers scores).
How Long Does It Take to Rebuild a Credit Score?
Actually, you don’t rebuild the credit score. You rebuild your credit history, which then is reflected by your credit score. The length of time to rebuild your credit history after a negative change depends on the reasons behind the change. Most negative changes in credit scores are due to the addition of a negative element to your credit report, such as a delinquency or collection account. These new elements will continue to affect your credit scores until they reach a certain age. Delinquencies remain on your credit report for seven years. Most public record items remain on your credit report for seven years, although some bankruptcies may remain for 10 years and unpaid tax liens remain for 15 years. Inquiries remain on your report for two years.
Suggestions on what you can do right now
A credit score reflects credit payment patterns over time, with more emphasis on recent information. Ways to improve a credit score generally include the following:
· Pay your bills on time. Delinquent payments and collections can have a major negative impact.
· Keep balances low on credit cards and other "revolving credit." High outstanding debt can affect a credit score.
· Apply for and open new credit accounts only as needed. Don’t open accounts just to have a better credit mix. It probably won’t improve your credit score.
· Pay off debt rather than moving it around. Also, don’t close unused cards as a short-term strategy to improve your credit score. Owing the same amount but having fewer open accounts may lower your credit score.
Know which items can improve credit scores the most
· Paying your bills on time is the single most important contributor to a good credit score. Even if the debt you owe is a small amount, it is crucial that you make payments on time.
· Minimize outstanding debt, avoid overextending yourself and refrain from applying for credit needlessly. Applications for credit show up as inquiries on your credit report, indicating to lenders that you may be taking on new debt. It may be to your advantage to use the credit you already have to prove your ongoing ability to manage credit responsibly.
· Pay your bills and wait. If you do have negative information on your credit report, such as late payments, a public record item (e.g., bankruptcy) or too many inquiries, you may want to pay your bills and wait. Time is your ally in improving your credit scores. There is no quick fix for bad credit scores.
One common question that many consumers have regarding their credit score involves understanding how very specific actions will affect it. However, it is impossible to provide a completely accurate assessment of how one specific action will affect a person’s credit score. For example, someone might ask if closing two of his or her revolving accounts would improve his or her credit score. While this question may appear to be easy to answer, there are many factors to consider. Simply closing two accounts not only lowers the number of open revolving accounts (which generally will improve credit scores), but it also decreases the total amount of available credit. That results in a higher utilization rate, also called the balance-to-limit ratio (which generally lowers scores).
How Long Does It Take to Rebuild a Credit Score?
Actually, you don’t rebuild the credit score. You rebuild your credit history, which then is reflected by your credit score. The length of time to rebuild your credit history after a negative change depends on the reasons behind the change. Most negative changes in credit scores are due to the addition of a negative element to your credit report, such as a delinquency or collection account. These new elements will continue to affect your credit scores until they reach a certain age. Delinquencies remain on your credit report for seven years. Most public record items remain on your credit report for seven years, although some bankruptcies may remain for 10 years and unpaid tax liens remain for 15 years. Inquiries remain on your report for two years.
Tuesday, January 11, 2011
Take good pictures
Why isn’t my home selling? We know, it's the economy, right? Partially, but not completely. Many homes sell within a few months, some in as little as a week. So what is the problem with the houses that don't sell? Ask any home stager, or look through the MLS ( Multiple Listing Services) pictures, and you will find the answer.
Assuming that the home is priced correctly and is in a good location, the reason it remains on the market could lie in the photos posted on the Internet. Since over 80% of potential home buyers begin their searches on line pictures of homes for sale are critical. If the photographs present the home poorly many buyers won't even consider visiting the house in person. The list below highlights just some of the problems displayed in pictures that are costing home sellers thousands of dollars. These examples are from actual listings.
• Too much furniture makes the rooms appear smaller and hides the home's features.
• Outdated or very large furniture. Clutter on kitchen and bathroom counters. (Please put the toothpaste in a drawer).
• Toilet seat left up. Dishes in sink
• A cluttered or messy office, can't even see the desk
• A bed with such huge lumps under the spread that it looked like a body was under it.
• Floral, cowboy, rooster, ivy or any wallpaper design that was from another decade.
• A big screen tv blocking a window.
• A tv left on when photographing the room. It just looks tacky.
Before listing your home look at the home thoroughly to avoid these mistakes
Assuming that the home is priced correctly and is in a good location, the reason it remains on the market could lie in the photos posted on the Internet. Since over 80% of potential home buyers begin their searches on line pictures of homes for sale are critical. If the photographs present the home poorly many buyers won't even consider visiting the house in person. The list below highlights just some of the problems displayed in pictures that are costing home sellers thousands of dollars. These examples are from actual listings.
• Too much furniture makes the rooms appear smaller and hides the home's features.
• Outdated or very large furniture. Clutter on kitchen and bathroom counters. (Please put the toothpaste in a drawer).
• Toilet seat left up. Dishes in sink
• A cluttered or messy office, can't even see the desk
• A bed with such huge lumps under the spread that it looked like a body was under it.
• Floral, cowboy, rooster, ivy or any wallpaper design that was from another decade.
• A big screen tv blocking a window.
• A tv left on when photographing the room. It just looks tacky.
Before listing your home look at the home thoroughly to avoid these mistakes
Monday, January 10, 2011
Home Selling Tip
Home Selling Tip.
Put new comforters on all of the beds.
Comforters are a lot like family heirlooms in that they tend to stick around for a really long time. Pick out some stylish, up to date comforters that fit the ambiance of each room.
Put new comforters on all of the beds.
Comforters are a lot like family heirlooms in that they tend to stick around for a really long time. Pick out some stylish, up to date comforters that fit the ambiance of each room.
Wednesday, January 5, 2011
I got this from an email from Dave Ramsey
"What an exciting time to be a homebuyer! There's a huge selection, prices are down, and mortgage interest rates have never been lower. Oddly enough, though, house hunters haven't been buying—mostly because they're afraid the market hasn't hit bottom. But most analysts agree that home values will only drop a few more percentage points in most areas—if that. So there's no need to wait for the "official" bottom. If you find a home you're in love with, however, don't get lured into a bidding war. There will be plenty more homes coming on the market at a good price.
"What an exciting time to be a homebuyer! There's a huge selection, prices are down, and mortgage interest rates have never been lower. Oddly enough, though, house hunters haven't been buying—mostly because they're afraid the market hasn't hit bottom. But most analysts agree that home values will only drop a few more percentage points in most areas—if that. So there's no need to wait for the "official" bottom. If you find a home you're in love with, however, don't get lured into a bidding war. There will be plenty more homes coming on the market at a good price.
Monday, January 3, 2011
6 Reasons Sellers should have their home Pre- Inspected
6 REASONS TO HAVE A PRE LISTING HOME INSPECTION!
So you are thinking of putting your home on the market. You have cleaned, decorated, painted the home and manicured the yard. But what about what you can’t see? Many sellers will opt to have a pre-sale home inspection done, prior to putting their property on the market. The benefits are many!
1. You will have a copy of the inspection to make available to buyers when viewing your home. They will feel more confident moving ahead, after reading a report and knowing the condition inside and out.
2. If repairs are needed, you can mark them on the report or include copies of invoices for those repairs. Be sure to get permits and hire qualified contractors, or the buyer will question the repairs.
3. You will save some money by knowing if there is any issue that needs attention. You can get it taken care of BEFORE going on the market. Buyers hire home inspectors after they have agreed on a price. If something comes up, you can’t factor it in to the price, like you would if you inspected prior to listing.
4. You have trust in the inspector you hire, not an inspector the buyer chooses. You have no control over who the buyer hires, and may differ with their opinion or their qualifications.
5. You have control over the contractor and price, should any repair be needed. For example, if it is determined that a new roof is needed now, you get it done on your terms! You can get a 3 tab shingle roof, and the buyer will be happy with a new roof. If the buyer is involved in the decision, they may want the more expensive option of a dimensional roof, or a certain color.
6. In the case of something that looks scary, like an older furnace, having an inspection on file that shows it has been checked and in good working order, may keep a buyer from passing on the home.
Can you see that having an inspection done prior to listing is a good idea for several reasons? The cost of home inspections run anywhere from $250-$500, depending on the size of the property.
So you are thinking of putting your home on the market. You have cleaned, decorated, painted the home and manicured the yard. But what about what you can’t see? Many sellers will opt to have a pre-sale home inspection done, prior to putting their property on the market. The benefits are many!
1. You will have a copy of the inspection to make available to buyers when viewing your home. They will feel more confident moving ahead, after reading a report and knowing the condition inside and out.
2. If repairs are needed, you can mark them on the report or include copies of invoices for those repairs. Be sure to get permits and hire qualified contractors, or the buyer will question the repairs.
3. You will save some money by knowing if there is any issue that needs attention. You can get it taken care of BEFORE going on the market. Buyers hire home inspectors after they have agreed on a price. If something comes up, you can’t factor it in to the price, like you would if you inspected prior to listing.
4. You have trust in the inspector you hire, not an inspector the buyer chooses. You have no control over who the buyer hires, and may differ with their opinion or their qualifications.
5. You have control over the contractor and price, should any repair be needed. For example, if it is determined that a new roof is needed now, you get it done on your terms! You can get a 3 tab shingle roof, and the buyer will be happy with a new roof. If the buyer is involved in the decision, they may want the more expensive option of a dimensional roof, or a certain color.
6. In the case of something that looks scary, like an older furnace, having an inspection on file that shows it has been checked and in good working order, may keep a buyer from passing on the home.
Can you see that having an inspection done prior to listing is a good idea for several reasons? The cost of home inspections run anywhere from $250-$500, depending on the size of the property.
Why write the offer today? Sometimes if you get an offer in quickly, you will be able to get it accepted quickly at a slightly lower price than if you waited and the situation became a bidding war. I've seen this often with REOs (foreclosures). I've won out on many desirable REOs because my client's offer is the first offer, gets put into the computer. "The eary bird gets the worm"
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