Prior to the auction
This first opportunity is called pre-foreclosure. When a property is in pre-foreclosure, the owner still has a chance to stop the foreclosure process by paying off what is owed or by selling the property. Lenders are required to advertise foreclosures in the legal newspaper for four consecutive weeks prior to selling the property at auction. During that time, the real estate investor can seek to purchase the property, either by paying cash for it, or by attempting to purchase the home contingent upon his ability to reinstate the foreclosing loan and taking title “subject-to” the existing loan.
Buying a pre-foreclosure can be a method to purchase a property with little or no money down and no credit especially if you are able to purchase the property “subject-to” the existing loan. Investors get the equity in the property in exchange for helping the property owners avoid foreclosure. The downside of purchasing a pre-foreclosure is that most homeowners are in denial, and it may be difficult to deal with them.
Purchases made during pre-foreclosure are considered “regular” sales in the sense that there will be a written purchase contract, your attorney will search title and offer you title insurance, and there will be a normal closing at your attorney’s office just as in any other home purchase.
RealQuest is one of the few sites that allow you to search for properties that are in pre-foreclosure. By you being find these opportunities faster than other real estate investors, you have the upper hand in the game. A subscription to RealQuest also delivers you the owner’s name and contact information, making it that much easier to proverbially “get your foot in the door” and make your offer to the existing owner.
At the auction
The second opportunity is in purchasing the property at the courthouse steps during the public auction. If nothing has been done to cure the event of default which led to the original foreclosure notice, the lender will, through the foreclosing attorney, conduct an auction on the courthouse steps. The property will be sold for cash. Only bank money orders will be accepted, and you must bring the funds with you. The bidding opens with a bid on behalf of the lender in the amount of the indebtedness plus all late payments plus attorney fees. Bidding continues until the highest bidder wins. Typically, all junior liens on the property are wiped out at the auction.
Purchasing a property at the courthouse steps lets you avoid having to deal with a property owner in denial. The downside is that you are most likely purchasing a property unaware of the interior condition of the property. RealQuest allows you to search the properties that are going to auction, so hopefully you can do some investigative work prior to the actual courthouse step auction date.
Lastly, this is not considered a “regular” sale because there is no contact and typically no title search is performed.
After the auction
This final opportunity is called REO. If, after the opening bid from the lender, there are no additional bids, then the ownership of the property is transferred to the lender, and the lender will typically try to sell the property as quickly as possible. Lenders will list these houses with real estate agents who will place them in the multiple listing services or they will hire auction houses to conduct another public auction. Lenders consider these REO properties to be “non-performing assets,” and want them off their books quickly; especially if they believe they have more coming in behind them. Often they will sell for substantially less than the loan amount, especially if the property is in poor condition or the lender has a large inventory of such property. Prior to the purchase the investor will be able to inspect the property.
This is a “regular” sale in the sense that there will be a contract, title search, and a standard closing in an attorney’s office.
There are multiple opportunities to purchase foreclosures and they can be purchased at these three distinct phases of the foreclosure process.
By | Jennifer Minge
Monday, January 26, 2009
Monday, October 27, 2008
UCLA sees O.C. housing's bottom by next summer
Orange County Register
October 27, 2008
UCLA sees O.C. housing's bottom by next summer
By Jeff Collins
UCLA economists forecast today that Orange County will have a $500,000
housing market again, but not for five years.
The UCLA Anderson Forecast
for Orange County projects that home prices, which once grew at a 25%
pace, will fall 9% next year and rise only by 3.5% to 6% over the
following four years. The price is projected to reach $523,563 in 2013.
Still, the UCLA economists are calling a bottom to the market: Summer of
2009.
Prices, said UCLA Anderson Forecast Senior Economist Jerry Nickelsburg,
will begin stabilizing in "middle-to-late 2009."
Mortgage defaults and foreclosures are expected to reach their peak this
year and begin diminishing next year. As foreclosures drop, home prices
will stabilize and fire sale prices for foreclosed homes will no long
depress neighborhood home values.
Existing inventory of for-sale housing has declined from 22 months of
sales a year ago to eight months, the forecast reported.
The report notes that during the first six months of 2008, 38 of the 39
areas examined experienced a decline in median prices for existing
single-family homes.
Laguna Beach is the only area with positive price appreciation this
year, with the median value up 1.7%, the forecast said. The biggest
price drop this year so far was in Capistrano Beach, where the median
fell 45.2%, followed by Santa Ana (-36.9%), La Habra (-29.6%) and
Anaheim (-29.4%).
October 27, 2008
UCLA sees O.C. housing's bottom by next summer
By Jeff Collins
UCLA economists forecast today that Orange County will have a $500,000
housing market again, but not for five years.
The UCLA Anderson Forecast
for Orange County projects that home prices, which once grew at a 25%
pace, will fall 9% next year and rise only by 3.5% to 6% over the
following four years. The price is projected to reach $523,563 in 2013.
Still, the UCLA economists are calling a bottom to the market: Summer of
2009.
Prices, said UCLA Anderson Forecast Senior Economist Jerry Nickelsburg,
will begin stabilizing in "middle-to-late 2009."
Mortgage defaults and foreclosures are expected to reach their peak this
year and begin diminishing next year. As foreclosures drop, home prices
will stabilize and fire sale prices for foreclosed homes will no long
depress neighborhood home values.
Existing inventory of for-sale housing has declined from 22 months of
sales a year ago to eight months, the forecast reported.
The report notes that during the first six months of 2008, 38 of the 39
areas examined experienced a decline in median prices for existing
single-family homes.
Laguna Beach is the only area with positive price appreciation this
year, with the median value up 1.7%, the forecast said. The biggest
price drop this year so far was in Capistrano Beach, where the median
fell 45.2%, followed by Santa Ana (-36.9%), La Habra (-29.6%) and
Anaheim (-29.4%).
Wednesday, July 9, 2008
What is Home Staging, and How Might It Help My House Sell?
I often get asked this question when on a listing presentation appointment.
In the last few years, home staging has become an increasingly popular method of preparing a home for sale. However, home staging involves far more than the cleaning and minor repairs required to put your home on the market. The process of staging a home is actually an in depth dressing of a home to make the property seem as appealing as possible to prospective buyers. Home staging professionals use a variety of methods to help homeowners sell their properties, incorporating both amenities already inside the home and a number of special products. When preparing to sell your home, you may want to think about some of the home staging methods outlined here to help you find the right buyer.
At its most simple, home staging is about setting the right mood for prospective buyers. By decorating and arranging a home’s interior to present an ideal way of life, buyers are assisted in visualizing themselves in your home. Whether you undertake the process of staging your own home or decide to consult a professional, there are a number of different “props” that may be used around the home. For example, to add a vibrant sense of life to the home, many home staging professionals recommend using different types of potted plants and arrangements of flowers and fruit. Throughout the home, they tend to utilize soft, luxurious fabrics – such as satin, lamb’s wool and silk – to create an atmosphere of comfort. This process can also extend to the exterior of the property, where patio furniture can be added in the backyard and colorful flowers or unique accessories outside the front door.
Many home staging professionals come from interior design or art-related backgrounds. Hence, when working on staging a home for sale, these professionals utilize a number of visual tricks to capture the attention of potential buyers. For instance, furniture is always arranged very carefully to simulate the ideal living space. In living rooms, home staging professionals often use loveseats and ottomans in lieu of large couches to create the illusion of added space. Likewise, mirrors are often placed throughout a staged home to make the living area seem larger to potential buyers. In areas where you hope to focus a buyer’s attention – like a hand built stone fireplace or a remodeled kitchen – staging professionals can place unique artwork or accessories to catch the eye.
One of the most important steps in home staging is the exchange of your personal decorations with more neutral furnishings. Beyond replacing family pictures with more design-friendly items, a successful home staging will attempt to eliminate any idiosyncratic tastes and represent a living space that has broad appeal. Though this process may feel like a slight on your family’s home, you should hardly take offense. This commonly used tactic simply helps potential buyers view the property not as someone else’s home, but as something they can call their own.
Most real estate experts claim that home staging is especially important when the home is empty. Without any furniture or amenities, even a home for sale in the most attractive area can make potential buyers feel uncomfortable. If you are trying to sell your home and have already moved out, you may want to consider working with your agent to stage the home’s interior. With the assistance of your agent and a home staging professional, you could quickly transform a lifeless house into dream home.
In the end, home staging is about making the most of your home’s potential. If the staging of your home is completed effectively, it is also possible that your home may receive better offers from potential buyers and spend less time on the market. By minimizing the flaws of your home and making the living area seem larger, brighter and more appealing, home staging may be one of the most important steps in selling your home quickly and at the right price.
In the last few years, home staging has become an increasingly popular method of preparing a home for sale. However, home staging involves far more than the cleaning and minor repairs required to put your home on the market. The process of staging a home is actually an in depth dressing of a home to make the property seem as appealing as possible to prospective buyers. Home staging professionals use a variety of methods to help homeowners sell their properties, incorporating both amenities already inside the home and a number of special products. When preparing to sell your home, you may want to think about some of the home staging methods outlined here to help you find the right buyer.
At its most simple, home staging is about setting the right mood for prospective buyers. By decorating and arranging a home’s interior to present an ideal way of life, buyers are assisted in visualizing themselves in your home. Whether you undertake the process of staging your own home or decide to consult a professional, there are a number of different “props” that may be used around the home. For example, to add a vibrant sense of life to the home, many home staging professionals recommend using different types of potted plants and arrangements of flowers and fruit. Throughout the home, they tend to utilize soft, luxurious fabrics – such as satin, lamb’s wool and silk – to create an atmosphere of comfort. This process can also extend to the exterior of the property, where patio furniture can be added in the backyard and colorful flowers or unique accessories outside the front door.
Many home staging professionals come from interior design or art-related backgrounds. Hence, when working on staging a home for sale, these professionals utilize a number of visual tricks to capture the attention of potential buyers. For instance, furniture is always arranged very carefully to simulate the ideal living space. In living rooms, home staging professionals often use loveseats and ottomans in lieu of large couches to create the illusion of added space. Likewise, mirrors are often placed throughout a staged home to make the living area seem larger to potential buyers. In areas where you hope to focus a buyer’s attention – like a hand built stone fireplace or a remodeled kitchen – staging professionals can place unique artwork or accessories to catch the eye.
One of the most important steps in home staging is the exchange of your personal decorations with more neutral furnishings. Beyond replacing family pictures with more design-friendly items, a successful home staging will attempt to eliminate any idiosyncratic tastes and represent a living space that has broad appeal. Though this process may feel like a slight on your family’s home, you should hardly take offense. This commonly used tactic simply helps potential buyers view the property not as someone else’s home, but as something they can call their own.
Most real estate experts claim that home staging is especially important when the home is empty. Without any furniture or amenities, even a home for sale in the most attractive area can make potential buyers feel uncomfortable. If you are trying to sell your home and have already moved out, you may want to consider working with your agent to stage the home’s interior. With the assistance of your agent and a home staging professional, you could quickly transform a lifeless house into dream home.
In the end, home staging is about making the most of your home’s potential. If the staging of your home is completed effectively, it is also possible that your home may receive better offers from potential buyers and spend less time on the market. By minimizing the flaws of your home and making the living area seem larger, brighter and more appealing, home staging may be one of the most important steps in selling your home quickly and at the right price.
Monday, June 30, 2008
Protecting Your Privacy While Your Home is on the Market
If your home is on the market, you have probably already taken great care in cleaning the interior and making necessary renovations that could help attract prospective buyers. However, before your home is shown to any buyers or agents, you should consider performing a few tasks to help protect your privacy. Not only should you try to remove personal items from tabletops or counters, but it is also wise to remember that potential buyers will open closets, cabinets and built-in drawers as they assess the property. To protect your privacy and prevent prospective buyers from forming any biases against you, you may want to follow these four simple steps before showing your home.
1. Hide your mail
When dealing with your mail, you should either remove it from your home or place it where it cannot be found. If prospective homebuyers spot collection notices or excessive credit card bills in plain sight, they might immediately assume that you are in debt and need to sell your home quickly. Furthermore, as no one wants strangers to read any of their personal materials, you should try to conceal all of your mail – down to the last furniture catalog.
2. Take down photos and diplomas
While some home sellers feel that such personal documents could add an atmosphere of coziness to their property, you may want to consider clearing the walls. Following this simple step could help prevent any type of bias from prospective homebuyers. For instance, home sellers with recent diplomas might be perceived as deep in debt and willing to sell at any price. Likewise, wedding photos can reveal the homeowner’s religion, which could influence certain buyers.
3. Clean the closets and drawers
If you have ever been to an open house or toured a home for sale, you can probably understand the desire to dig around. In most cases, prospective homebuyers simply open closets and cabinets to inspect the space or make judgments about the construction of the home. While most people who view your home will not try to snoop in your personal belongings, try to pack away anything that could tell an unwanted story about your life.
You may want to clear out all drawers and closets entirely before the home is shown to buyers. After your personal belongings have been removed from the home or carefully packed away, work with your agent to stage closets and large cabinets. By replacing your own belongings with examples of how the home can be utilized, you will take the focus off yourself and help prospective buyers visualize themselves in your home.
4. Turn down the answering machine
This final step is probably the most overlooked by home sellers. Just as you can not anticipate what arrives in the mail each day, you cannot predict when you might receive an unwanted phone call. If you are engaged in an open house or private viewing, you certainly don’t want a prospective buyer to overhear a message from a collection agency or credit card company. Furthermore, as you are in the process of selling a home (and possibly buying another), you don’t want buyers to know anything about your personal business. Hence, before any prospective buyers enter your home, you may want to mute your answering machine to prevent any uncomfortable exchanges.
In conclusion, when you are ready to show your home to prospective buyers, try to remove anything that might drive a buyer away or create an unwanted bias. Whether it’s as simple as removing your personal mail or staging the closets of your home’s bedrooms, a bit of work can not only protect your privacy but can potentially help sell your home.
1. Hide your mail
When dealing with your mail, you should either remove it from your home or place it where it cannot be found. If prospective homebuyers spot collection notices or excessive credit card bills in plain sight, they might immediately assume that you are in debt and need to sell your home quickly. Furthermore, as no one wants strangers to read any of their personal materials, you should try to conceal all of your mail – down to the last furniture catalog.
2. Take down photos and diplomas
While some home sellers feel that such personal documents could add an atmosphere of coziness to their property, you may want to consider clearing the walls. Following this simple step could help prevent any type of bias from prospective homebuyers. For instance, home sellers with recent diplomas might be perceived as deep in debt and willing to sell at any price. Likewise, wedding photos can reveal the homeowner’s religion, which could influence certain buyers.
3. Clean the closets and drawers
If you have ever been to an open house or toured a home for sale, you can probably understand the desire to dig around. In most cases, prospective homebuyers simply open closets and cabinets to inspect the space or make judgments about the construction of the home. While most people who view your home will not try to snoop in your personal belongings, try to pack away anything that could tell an unwanted story about your life.
You may want to clear out all drawers and closets entirely before the home is shown to buyers. After your personal belongings have been removed from the home or carefully packed away, work with your agent to stage closets and large cabinets. By replacing your own belongings with examples of how the home can be utilized, you will take the focus off yourself and help prospective buyers visualize themselves in your home.
4. Turn down the answering machine
This final step is probably the most overlooked by home sellers. Just as you can not anticipate what arrives in the mail each day, you cannot predict when you might receive an unwanted phone call. If you are engaged in an open house or private viewing, you certainly don’t want a prospective buyer to overhear a message from a collection agency or credit card company. Furthermore, as you are in the process of selling a home (and possibly buying another), you don’t want buyers to know anything about your personal business. Hence, before any prospective buyers enter your home, you may want to mute your answering machine to prevent any uncomfortable exchanges.
In conclusion, when you are ready to show your home to prospective buyers, try to remove anything that might drive a buyer away or create an unwanted bias. Whether it’s as simple as removing your personal mail or staging the closets of your home’s bedrooms, a bit of work can not only protect your privacy but can potentially help sell your home.
Monday, June 23, 2008
Interest In Urban Homeownership "Fueled" By Higher Gas Prices
Nearly 78 Percent of Surveyed Coldwell Banker® Sales Associates Report Increased Interest in Urban Living is a Result of Energy CostsProperties with Home Offices Also Appealing
PARSIPPANY, N.J. 06-18-2008 —
Coldwell Banker® sales associates working in urban markets across the United States indicate they are seeing interest in urban living increasing because of the high cost of gasoline. While 96 percent of the 903 sales associates surveyed report that rising gas and oil prices are a concern to their clients, 78 percent report that higher fuel costs are increasing their desire to consider living in an urban setting.
According to the Coldwell Banker survey, the primary reasons for this interest in urban living are related to work commute and energy-efficient modes of transportation:
* 81 percent cite minimizing a reduced work commute as a reason for the interest in urban living
* 54 percent agree that access to public transportation is appealing
* 75 percent agree that the ability to walk to more places is a positive
“Over the past several years we have seen a boom in downtown living all over the country and this is not just reserved to major cities,” said Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate. “It is interesting to note that the study showed that 53 percent of our surveyed sales associates have seen an increased interest in urban living compared to five years ago.”
Coldwell Banker surveyed sales associates who also reported they have seen an 84 percent spike in interest for properties with a home office, as compared to five years ago, indicating a trend towards telecommuting.
While the study also found that 64 percent of surveyed sales associates report their clients increasingly look for homes with “green” amenities that could save on heating, cooling and electricity costs, only 42 percent surveyed believe saving on energy costs are a reason for their client’s interest in urban living.
Methodology: Coldwell Banker conducted an online survey on trends surrounding urban living and rising gas prices. The survey yielded responses from 903 Coldwell Banker brokers across the United States.
PARSIPPANY, N.J. 06-18-2008 —
Coldwell Banker® sales associates working in urban markets across the United States indicate they are seeing interest in urban living increasing because of the high cost of gasoline. While 96 percent of the 903 sales associates surveyed report that rising gas and oil prices are a concern to their clients, 78 percent report that higher fuel costs are increasing their desire to consider living in an urban setting.
According to the Coldwell Banker survey, the primary reasons for this interest in urban living are related to work commute and energy-efficient modes of transportation:
* 81 percent cite minimizing a reduced work commute as a reason for the interest in urban living
* 54 percent agree that access to public transportation is appealing
* 75 percent agree that the ability to walk to more places is a positive
“Over the past several years we have seen a boom in downtown living all over the country and this is not just reserved to major cities,” said Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate. “It is interesting to note that the study showed that 53 percent of our surveyed sales associates have seen an increased interest in urban living compared to five years ago.”
Coldwell Banker surveyed sales associates who also reported they have seen an 84 percent spike in interest for properties with a home office, as compared to five years ago, indicating a trend towards telecommuting.
While the study also found that 64 percent of surveyed sales associates report their clients increasingly look for homes with “green” amenities that could save on heating, cooling and electricity costs, only 42 percent surveyed believe saving on energy costs are a reason for their client’s interest in urban living.
Methodology: Coldwell Banker conducted an online survey on trends surrounding urban living and rising gas prices. The survey yielded responses from 903 Coldwell Banker brokers across the United States.
Saturday, June 14, 2008
7 Tips For Moving With Kids
7 Tips for Moving with Kids
Moving can be a life-altering experience for a child. If you are moving out of the area and your children will be attending a new school, the difficulties for children may only be magnified. However, there are plenty of things you can do for your children during the moving process that can turn a stressful event into a time of excitement. Here are some suggestions.
1. Share the news early
Once you have made the decision to move, let your children know and listen to their opinions. While some kids may be disappointed – especially if you are moving out of the area – they may find some solace in providing input. Furthermore, the more time your children have to prepare themselves for the move, the better.
2. Show some excitement
Rather than expressing regret about the decision to move, let your kids know that a new home will be an exciting opportunity for everyone. Talk about the activities your family can do after moving and the benefits of their new school. As moving day approaches, you may find that your children are looking forward to everything from decorating their bedrooms to making new friends.
3. Get the kids involved
As you make the preparations to move, try to get your kids involved in the process. To help your kids remain focused and happy, work with them to schedule some fun activities before moving out. Find some local guide books or websites that your children can read and let them serve as tour guides after moving into the new neighborhood. When packing, it can also be helpful to let children box up and label their own belongings allowing them to feel more in control of the process.
4. Incorporate some creativity
To help your kids take their minds off the stresses of moving, encourage them to be creative. Younger children might enjoy painting pictures of your old house to display after you’ve moved. Older children can keep a journal or scrapbook during moving and have a story to share later. During the moving process, you could also give your kids jobs – complete with badges and uniforms – to help them stay involved.
5. Have a party
Prior to leaving your home, throw a party for yourself and your kids. Invite the friends of everyone in the family and plan some fun, all-ages activities. Afterward, make sure your kids receive contact information for everyone they want to stay in contact with.
6. Get acquainted with your new surroundings
Once you have unloaded the truck, try to make the first night in your new home as exciting as possible. Have fun playing hide-and-seek or a board game before worrying about unpacking and organizing. After you have settled in, start taking walks or bike rides around the neighborhood. You can introduce yourselves to the neighbors and the kids might find some new friends.
7. Get back to normal
For the sake of the entire family’s happiness, try not to take too long to resume doing what your family enjoys. If your family had a custom of bowling every Friday, try to find a bowling alley near your new home. You may also want to drive through the area and acquaint yourself with the locations of businesses like grocery stores and restaurants. When Saturday rolls around, try out the pizza parlor you found.
Though moving can be difficult on children of all ages, it can also provide something to look forward to. By keeping your kids involved during every step of the moving process, you will help them feel in control of the situation. After moving into your new home, help them understand that life will be as fun as it always was; it will just take place in a different location. Most importantly, do your best as a family to stay together and have fun along the way.
Moving can be a life-altering experience for a child. If you are moving out of the area and your children will be attending a new school, the difficulties for children may only be magnified. However, there are plenty of things you can do for your children during the moving process that can turn a stressful event into a time of excitement. Here are some suggestions.
1. Share the news early
Once you have made the decision to move, let your children know and listen to their opinions. While some kids may be disappointed – especially if you are moving out of the area – they may find some solace in providing input. Furthermore, the more time your children have to prepare themselves for the move, the better.
2. Show some excitement
Rather than expressing regret about the decision to move, let your kids know that a new home will be an exciting opportunity for everyone. Talk about the activities your family can do after moving and the benefits of their new school. As moving day approaches, you may find that your children are looking forward to everything from decorating their bedrooms to making new friends.
3. Get the kids involved
As you make the preparations to move, try to get your kids involved in the process. To help your kids remain focused and happy, work with them to schedule some fun activities before moving out. Find some local guide books or websites that your children can read and let them serve as tour guides after moving into the new neighborhood. When packing, it can also be helpful to let children box up and label their own belongings allowing them to feel more in control of the process.
4. Incorporate some creativity
To help your kids take their minds off the stresses of moving, encourage them to be creative. Younger children might enjoy painting pictures of your old house to display after you’ve moved. Older children can keep a journal or scrapbook during moving and have a story to share later. During the moving process, you could also give your kids jobs – complete with badges and uniforms – to help them stay involved.
5. Have a party
Prior to leaving your home, throw a party for yourself and your kids. Invite the friends of everyone in the family and plan some fun, all-ages activities. Afterward, make sure your kids receive contact information for everyone they want to stay in contact with.
6. Get acquainted with your new surroundings
Once you have unloaded the truck, try to make the first night in your new home as exciting as possible. Have fun playing hide-and-seek or a board game before worrying about unpacking and organizing. After you have settled in, start taking walks or bike rides around the neighborhood. You can introduce yourselves to the neighbors and the kids might find some new friends.
7. Get back to normal
For the sake of the entire family’s happiness, try not to take too long to resume doing what your family enjoys. If your family had a custom of bowling every Friday, try to find a bowling alley near your new home. You may also want to drive through the area and acquaint yourself with the locations of businesses like grocery stores and restaurants. When Saturday rolls around, try out the pizza parlor you found.
Though moving can be difficult on children of all ages, it can also provide something to look forward to. By keeping your kids involved during every step of the moving process, you will help them feel in control of the situation. After moving into your new home, help them understand that life will be as fun as it always was; it will just take place in a different location. Most importantly, do your best as a family to stay together and have fun along the way.
Sunday, June 8, 2008
44 Home Seller Tips
Seller Tips to Prepare Your Home For Sale
How you prepare your home for a potential buyer can affect the likelihood of selling quickly. Here are a few selling tips to help guide you along the way.
Outside:
People tend to judge a book by its cover. Investing some time and money into your homes’ exterior can pay dividends.
1. A trim landscape can attract buyers, so mow and water your lawn.
2. Trim trees and bushes, and tidy up mulch and other ground cover.
3. Cover bare spots in your lawn with grass seed.
4. Plant flowers – an oft-repeated tale says that yellow flowers symbolize new beginnings and can evoke buying emotions.
5. Clean sidewalks, walkways, and the sides of your home -- renting a power washer can be a good investment.
6. Make your house number clearly visible from the street.
7. Keep clutter to a minimum - store bikes, toys and other equipment.
8. Repaint the home or touchup the necessary areas to present a clean and kept appearance.
Inside:
Give potential buyers a blank canvas to work with; let them see your home as a place they will live their lives in, and not the home that you are living in.
9. Depersonalize your home by removing pictures, paintings, trophies, etc.
10. Remove clutter around the house -- pack up random items you will be moving, remove books from shelves, and empty all counter space.
11. Organize things behind closed doors –- smart buyers will want to open cabinets and closets, so keep it neat. This will show the buyer that you take care of the home down to the smallest detail. Some examples include:
- Alphabetizing your spice rack, place cup handles uniformly, and neatly stack dishes
- Hang jackets or shirts together and uniformly, and line shoes up
12. Remove unnecessary furniture such as shelving units, extra leaves from the dining room table, or any thing else that may increase the appearance of a room – rent a storage unit if you must.
13. Leave enough furniture to give potential buyers enough to imagine what the room is used for.
Fix-It:
Take care that you’re not selling a “fixer-upper” - from replacing light bulbs to touching up the paint, be sure to present your home in move-in condition.
Replace:
Items that are moving with you should be replaced before showing the house. The general rule of thumb is, anything attached to the home is expected to be part of the deal. Minimizing any confusion will minimize potential negotiating issues later on.
14. Replace that light fixture which has been in your family for years.
15. Change the bathroom sink you aren’t willing to part with.
16. If you are taking any major appliances be sure to have their replacements in place before showing the home.
Minor Repair:
Consider making some small, inexpensive upgrades to your home.
17. Replace any cracked tiles, or repair them.
18. Patch any holes in the wall.
19. Fix leaky faucets.
20. Fix doors that don’t shut properly and kitchen drawers that jam.
21. Replace light bulbs that are burnt out – more light gives a spacious perception.
22. Replace worn bedspreads.
Major Repair:
Be sure the costs of the repairs you are making don’t outweigh the benefits they will create.
23. Paint rooms neutral colors – it will give the room a bigger feel and eliminate your perception of a “good” color (for example, red may not be good for everyone).
24. Discuss any other major repairs with your Sales Associate. (>> link to find a sales associate).
Freshen Up:
Give your home a good “spring cleaning” both inside and out before someone sees it. Continuous maintenance will help keep your home in good order and prevent you from that last minute clean up before someone comes to see your house.
25. Clean windows on both sides.
26. Rent a pressure washer to clean the exterior of the house.
27. Clean cobwebs.
28. Re-caulk bathrooms and bleach grout.
29. Clean out the refrigerator.
30. Wax floors and vacuum daily.
31. Dust furniture, ceiling fan blades and light fixtures.
32. Replace worn rugs.
33. Hang fresh towels in bathrooms.
34. Clean out musty smelling areas.
35. Stop smoking inside the house.
36. Bathe pets and clean out litter boxes.
37. Empty all trash, recycle bins, etc.
38. Dry-clean drapes and shampoo carpets.
39. Use baking soda boxes in smell-prone areas.
40. Place flowers, potpourri or air fresheners around the house.
41. Monthly cleaning can preserve a floor’s shine.
42. Clean all carpets.
43. Clean all windows and mirrors.
44. Clean water stains in all sinks and tubs.
Ask a "buyer":
Invite a friend or neighbor to walk through your home like a buyer would. Get their opinion on whether or not it's inviting, clean and well maintained. Strongly consider making any changes they suggest.
How you prepare your home for a potential buyer can affect the likelihood of selling quickly. Here are a few selling tips to help guide you along the way.
Outside:
People tend to judge a book by its cover. Investing some time and money into your homes’ exterior can pay dividends.
1. A trim landscape can attract buyers, so mow and water your lawn.
2. Trim trees and bushes, and tidy up mulch and other ground cover.
3. Cover bare spots in your lawn with grass seed.
4. Plant flowers – an oft-repeated tale says that yellow flowers symbolize new beginnings and can evoke buying emotions.
5. Clean sidewalks, walkways, and the sides of your home -- renting a power washer can be a good investment.
6. Make your house number clearly visible from the street.
7. Keep clutter to a minimum - store bikes, toys and other equipment.
8. Repaint the home or touchup the necessary areas to present a clean and kept appearance.
Inside:
Give potential buyers a blank canvas to work with; let them see your home as a place they will live their lives in, and not the home that you are living in.
9. Depersonalize your home by removing pictures, paintings, trophies, etc.
10. Remove clutter around the house -- pack up random items you will be moving, remove books from shelves, and empty all counter space.
11. Organize things behind closed doors –- smart buyers will want to open cabinets and closets, so keep it neat. This will show the buyer that you take care of the home down to the smallest detail. Some examples include:
- Alphabetizing your spice rack, place cup handles uniformly, and neatly stack dishes
- Hang jackets or shirts together and uniformly, and line shoes up
12. Remove unnecessary furniture such as shelving units, extra leaves from the dining room table, or any thing else that may increase the appearance of a room – rent a storage unit if you must.
13. Leave enough furniture to give potential buyers enough to imagine what the room is used for.
Fix-It:
Take care that you’re not selling a “fixer-upper” - from replacing light bulbs to touching up the paint, be sure to present your home in move-in condition.
Replace:
Items that are moving with you should be replaced before showing the house. The general rule of thumb is, anything attached to the home is expected to be part of the deal. Minimizing any confusion will minimize potential negotiating issues later on.
14. Replace that light fixture which has been in your family for years.
15. Change the bathroom sink you aren’t willing to part with.
16. If you are taking any major appliances be sure to have their replacements in place before showing the home.
Minor Repair:
Consider making some small, inexpensive upgrades to your home.
17. Replace any cracked tiles, or repair them.
18. Patch any holes in the wall.
19. Fix leaky faucets.
20. Fix doors that don’t shut properly and kitchen drawers that jam.
21. Replace light bulbs that are burnt out – more light gives a spacious perception.
22. Replace worn bedspreads.
Major Repair:
Be sure the costs of the repairs you are making don’t outweigh the benefits they will create.
23. Paint rooms neutral colors – it will give the room a bigger feel and eliminate your perception of a “good” color (for example, red may not be good for everyone).
24. Discuss any other major repairs with your Sales Associate. (>> link to find a sales associate).
Freshen Up:
Give your home a good “spring cleaning” both inside and out before someone sees it. Continuous maintenance will help keep your home in good order and prevent you from that last minute clean up before someone comes to see your house.
25. Clean windows on both sides.
26. Rent a pressure washer to clean the exterior of the house.
27. Clean cobwebs.
28. Re-caulk bathrooms and bleach grout.
29. Clean out the refrigerator.
30. Wax floors and vacuum daily.
31. Dust furniture, ceiling fan blades and light fixtures.
32. Replace worn rugs.
33. Hang fresh towels in bathrooms.
34. Clean out musty smelling areas.
35. Stop smoking inside the house.
36. Bathe pets and clean out litter boxes.
37. Empty all trash, recycle bins, etc.
38. Dry-clean drapes and shampoo carpets.
39. Use baking soda boxes in smell-prone areas.
40. Place flowers, potpourri or air fresheners around the house.
41. Monthly cleaning can preserve a floor’s shine.
42. Clean all carpets.
43. Clean all windows and mirrors.
44. Clean water stains in all sinks and tubs.
Ask a "buyer":
Invite a friend or neighbor to walk through your home like a buyer would. Get their opinion on whether or not it's inviting, clean and well maintained. Strongly consider making any changes they suggest.
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