Don't Forget to Give your Home Curb Appeal!

When selling your home, Curb Appeal gives the buyer that First Impression of your Home.
It can affect the way he views and reviews the Interior of your Home.
A Great First Impressions can also mean a higher sales price.
I attended the retirement party of a fellow Realtor several years ago and he always gauged how the interior of a home would look by how the exterior of the home looked,                                              specifically how the garage door looked. 
I'm serious. Since then, I have tested his theory many times and I concluded that in most cases....He was Right!

How Bad Do You Need to Sell?

Question: I own a home with an appraised value of $368,000 and little left on the mortgage. Is now the time to sell or hold? An agent wants to list the home for $300,000.

Answer: Why do you want to sell? Is there some place you would like to move?

Do you have a surplus of cash? If not, and if the property is worth $368,000, why would you want to sell for $300,000? That's better than a 20 percent discount and you haven't even bargained with a buyer.

You need to speak with other brokers in your local community to determine a market value for the property -- have them each prepare a listing presentation for you. Then determine the pros and cons of a sale -- for you.

Inexpensive Selling Tip

Looking for a quick way to rejuvenate your living space? Before you go changing layouts or knocking down walls, try giving your interior a fresh coat of paint. This fairly simple task can dramatically alter the look and feel of your home.

Changing interior paint is an easy do-it-yourself project that most can tackle in a weekend or two. Before you get the rollers out and start painting, here are some basics about the interior paint finishes available:

Flat or Matte -- Hide imperfections with flat paints, which absorb light and make the colors seem darker. The downside? This type of paint is the least stain resistant, so reserve it for low-traffic areas and ceilings.

Eggshell -- Not as dull as flat paint but less shiny than semi-gloss, this low-sheen option works well in living rooms and bedrooms. Be aware that the shine can accentuate wall imperfections, so it's best on smooth, well-prepared surfaces.

Satin -- This easy-to-clean finish is often used on windows, doors and trim. Its soft sheen sets it apart from walls painted in eggshell or flat finishes. Though it is highly durable, satin paint has less protection than shinier options.

Semi-Gloss -- Designed to stand up to stains, semi-gloss paints are the easiest to clean, making them ideal choices for kitchens and children's rooms. Semi-gloss sheen also stands up to moisture, so consider this selection when repainting a bathroom.

Low VOC -- The name says it all. This type of paint contains fewer volatile organic compounds (VOCs), which release toxic gases. Opt for low-VOC paint if you want to go green in your home and deal with less paint fumes.

Mold in a Bank Foreclosure Home

        Here is an example of the Mold we see regularly in a Bank                                                foreclosure home. 

Are Surveys of a Property a Good Idea?

Question: I want to know exactly where the property line is between my house and my neighbor. My sister told me it doesn't matter because it's not much to care about and I would have to take care the grass. Do you think she's right? If she isn't then what should I do to re-measure my property?

Answer: To determine your property's exact boundaries you want to get a survey by a licensed surveyor. Knowing the precise boundaries of your property is important. First, you want to assure that you're not paying taxes on property used by a neighbor. Second, if your neighbor continuously, openly and notoriously uses your property, he may actually obtain title over a number of years. Third, when you sell, you want to assure your buyer that they are getting a given quantity of property and that the boundaries of that property are well defined.

Agreeing on an Offer to Purchase our Home

Question:  Our home is listed for $250,000. We received an offer for $240,000 and they wanted us to pay $6000 of their closing costs. The buyer has FHA financing. We countered their offer with $245,000 and no closing costs.  Anyway, after going back and forth, our Realtor convinced us to pay the $6000 in closing costs and raise the price to $252,000. We did and the buyers accepted our offer. A few weeks later, the appraisal came back at a $247,000 value. Now the buyer wants the home for the appraisal price and wants the $6000 in closing costs that we agreed upon. Our Realtor said take it and move on. We are not happy with this. What is your opinion?

Answer: The concept of a seller crediting a buyer for their closing costs is pretty normal. The amount varies from deal to deal. If the amount can be agreed upon, it is a benefit to both parties, and produces many successful closings.

A lower appraisal means that in order for the deal to be financed by the lender, the seller would have to drop to the appraisal price or the buyer would have to make up the difference. Very few buyers are going to want to purchase a home over the appraised value. This FHA appraisal stays with your home for 4 months. So, if you say no to the deal, the next FHA buyer within the 4 months, would use the same appraisal.  

It is possible that you could find a conventional loan buyer, with the hope that this appraisal would yield a higher value. But you are starting all over and there are no guarantees that it would be easy to find a conventional buyer or that the appraisal would be any different.

Since your contract is being renegotiated at a lower price than what was agreed upon, you do NOT have to pay the $6000 in closing costs. Sure you agreed to pay them, but the buyer also agreed to pay a higher price for your home.

Perhaps you can renegotiate the closing costs or other items in the contract that would make the deal appealing to both sides. After all, the buyer did like your home and you do want to sell!

Why are you in My House so Long!

Question:  My home is currently listed with a Broker. The other night, we left 15 minutes before the 5 and 6 PM showing. I returned at around 7 PM and the Realtor and buyer were still parked in my driveway. As I drove by, I could see them sitting at my kitchen table. I didn’t know what to do so I sat there for another half hour before they finally left. My Broker later explained that they were probably very interested in the home, that’s why they stayed so long, and to take that as a “good thing.” I am still upset about this. Am I wrong being so upset?

Answer: First off you deserve some answers and not just that “it’s a good thing.”   Were they late for their appointment? Why did these strangers use your home as a meeting place?  Why were they there so long? There is no excuse for a seller not knowing that a Realtors appointment is running late. We all have mobile phones. There is no excuse for a showing lasting for more than an hour….even if they are interested in the home. Lastly, if they used your kitchen table as a meeting place in an occupied home, then that Realtor should be reported. That is unacceptable.

Here is our solution:  First, tell your Realtor you want the mobile number of any showing agent. That way if they are late, and they have not contacted you, you can contact them to check on their status.                                     

Second, don’t leave for the showing until they arrive at your door. No rule says you have to leave your home unless you want to. If you decide to stay home, stay out of their way and give them some privacy to openly discuss and view your home. If the weather permits, go outside to your yard. If they are late, refuse the showing if it is an inconvenience to you. An appointment means an arrangement to meet someone at an agreed upon time and place.                                                                                     

Third, if you feel the prospective buyer and Realtor have been in your home long enough, then go home! It’s your home! None of these solutions are rude. They are a response to a bad situation that they put you in! If they don’t understand, then they are probably not the buyers you would want purchasing your home.