Clustrmaps
Archive for November, 2009
Winterizing for a Sale
With snow in the forecast, it’s time to face the facts—it’s almost winter here in CNY.
If you haven’t started winterizing your home, this might be a good weekend to do it. December is full of one holiday event after another (is anyone else looking forward to Lights on the Lake?), and you probably won’t think about it again until early January.
If you’re preparing to sell your home, wintering does more than just keep your heating bills a little lower, it can help with the sale. When a potential buyer sees that your home keeps out the cold (and keeps in the warmth), they’re going to appreciate it, especially if they are viewing the home on a very blustery and cold winter day.
Start by sealing the windows. The plastic coverings work great, but aren’t very attractive, so try to avoid using them. Sealing caulk works well, though. Replace any broken or cracked window panes, or, if you can, update windows with something more energy efficient.
Have your heater inspected and cleaned. Don’t forget to change the filter. The buyer’s inspector will look at the furnace, and if it looks recently cleaned and is in good shape, the home will look more attractive. While you are in the basement already, don’t forget to check for any drafts coming through any windows or openings down there. It’s easy to forget the basement, especially if it hasn’t been remade into living space. Also, if you have a fireplace, have the chimney cleaned out.
Replace draft guards or weather stripping on the doors. Make sure that the doors all close firmly, and that no cold air can seep through. Replace any screen doors with storm doors, and make sure that there is a mat outside for stomping snow off on, and one inside for setting wet shoes on while they dry. You don’t want to be doing last-minute mopping before an open house to get rid of muddy boot prints. Also, make sure that you have buckets of rock salt near each entrance, and remember to use it before showing the home.
Clean out your duct. Heating ducts are home to all kinds of nasty bacteria, mold and dust. You should be having them cleaned at least once a year anyhow, but it is especially important when you are trying to sell your home. It shows that you have taken care of the home while it has been in your possession, and that will give the buyer confidence about the rest of the home.
Winterizing your home is a good idea, whether you are selling or not. Cold central NY nights, combined with the almost constant winds, can suck the heat right out of a home if you are not prepared. Winterizing also gives potential buyers a reason to choose your home over a similar home they may have been considering; especially if the other seller has not taken all of these steps. Spend the weekend, get it taken care of, and your buyer will thank you.
Number of Views :54Tips for Coping with Home Buying Stress
When searching for the right home and buying a home, this can be a very stressful process because this is a major purchase and there is much to consider. However, home buying should also be an enjoyable, rewarding, happy experience. Here are some basic tips for coping with the stress of buying a home. This will help you and your family to worry less, have more peace of mind and just be able to enjoy your new home and future.
Ask your Syracuse real estate agent for help
As real estate agents, it is their job to help you search for the right home and to answer any questions you may have. Do not be afraid to let them help you and to ask for advice or help when needed. This will help reduce stress from the whole home buying process.
Purchase Offer Stress
Stress can start during a purchase offer or when signing a purchase agreement. You may start to worry and wonder whether or not they will accept the offer, what will happen when you find a home you like and more. This is where your agent will be a major help. Discuss your concerns with your agent, and make sure you get everything explained well and all your questions answered.
Stress waiting for Acceptance
Stress can happen and increase while waiting for a seller to accept your offer. You may worry if they will accept it, if they will get angry about the offer, if they will have a counter offer and more. To help you relax and cope, call a friend or family member, or get out of the house and keep yourself busy while you wait. This will help keep your mind of it for a while.
Counter offer stress
Stress can grow if a seller does not accept the offer and gives a counter offer. This can cause worries about being able to afford the home, and more. The best thing to do is to discuss these worries and concerns with your agent and family and friends. Also, remember that there are still other options and this is not your only chance to buy a home. This will help you relax and be more at ease.
Stress During Closing
There is usually much stress during closing because there is so much to do and consider. One way to cope with this stress is to ask your agent about the whole process so you can be more prepared and then more relaxed. Always ask questions if you have them.
These tips for coping with the stages of buying a home can help the process be more enjoyable, rewarding and more important to the buyer. This will help the home buyers to be able to relax and just enjoy their new home more than ever before.
Number of Views :44Home Sales Rising Due to Ending Tax Credit
Due to first time home buyers tax credit ending by April 30th instead of November 30th, home sales are rising as home owners rush to sign a purchase agreement by the end of April in order to qualify for the tax credit. Sales are expected to rise 1.4 percent which means an annual rate of 5.65 million which is up from September which was only 5.57 million. Even though sales are expected to drop in the winter months because the tax credit is not running out until later, this means an expected sales increase in the spring, which is also in most areas a better time for selling homes due to warmer weather.
Even though this is some good news for the housing market, there are still many people facing foreclosures. Fourteen percent of homeowners are either getting behind on their mortgage payments or were in foreclosure state by the end of September. Also, if unemployment keeps rising, than the housing market will continue to suffer. There are some plans to lower mortgage rates next year but the government is limited in being able to help the housing market.
The best thing that can be taken away from this news is that there is hope for the housing market because sales are expected to rise in the Spring, so even if things may seem slow this winter, don’t give up on getting that perfect house you want in the spring and if you are person selling your home, push more to sell in the Spring, when more homebuyers will be rushing to beat that tax credit deadline.
For more information, contact your real estate agent or visit: http://news.yahoo.com/s/ap/20091123/ap_on_bi_ge/us_home_sales
Number of Views :60Five Ways to Encourage Foreclosure
No one wants to buy a home, and then lose it to foreclosure. It happens, though, even if you do everything right when buying a home.
There are some things that buyers do, however, that just encourage a foreclosure. Here’s what not to do when buying if you want to keep your home.
- Attend a “no money down” seminar. Most banks won’t even discuss a no money down loan with you anymore, but there is almost always one bank looking to make a profit. In exchange for a 15% interest rate, with the entirety of the loan due within five years, you might be able to get a no money down mortgage. But what happens in five years when you’re still living in the home, and can’t make the balloon payment? You’re going to lose the home.
- Putting your entire savings into buying a home. A down payment and closing costs are expensive. So is hiring a moving truck and getting any extra items you needed for your new home. That’s not an excuse to go overboard and clear out your entire savings account. Don’t assume that you can just start making up the difference again in your next paycheck, or that you should be able to turn to your credit cards for emergencies. Homes are expensive, and you need to have the money set aside for emergencies or to cover a mortgage payment or two if your income is suddenly reduced.
- Don’t take the good advice offered to you buy your real estate agent, mortgage broker, and other professionals you will be working with when buying a home. Don’t assume that you know everything, just because you’ve read a couple books on real estate. These people are professionals, and they want you to move into a home that you like, and one that you can afford. They aren’t giving you advice just to close the sale and collect their fees.
- Choose the most expensive home. Just because you’ve been prequalified for a $300,000 home, does not mean that you can easily afford the payments for that home. Find out how much you can reasonably afford (plan on 33% of your take-home income), and keep to that amount. Overextending yourself will only get you into a home that you can’t actually afford.
- Significantly changing your financial picture before close. Yes, it would be nice to have a new car sitting in your new driveway, or to buy the furniture set you’ve been eyeing as a housewarming gift to yourself. Don’t do it. Your credit score is affected by your available amount of credit. If you use that credit to buy any extras, that can change what the bank can offer you for a loan. It also affects what credit you have available in the case of a financial emergency. Don’t lose the home of your dreams because you just had to have that new dinette set.
No one wants to lose their home. Unfortunately, sometimes things happen beyond your control. Some things, however, you can control. Avoiding these common buyer traps, though, and you’ll be in better shape to keep your finances in good shape, and to avoid foreclosure.
Number of Views :65New Home Trends Sellers Need to Know
Even with the housing market not being at its best, it is always a good idea to know about the home trends and styles home buyers are looking for, that way sellers will have a better chance at improving their home and selling it sooner even in a down market. If you are not aware of what buyers want, it may take even longer to sell a home. Here are some home trends and style tips to get you started. This way you can be on your way to selling your home even faster and enjoy your future worry free.
Ask your Syracuse real estate agent for advice
As real estate agents, it is their job to know what home buyers are looking for including new home trends and styles. They are a great first resource in being able to tell you what possible buyers are looking for.
Colors
These days, most home buyers tend to prefer earth tones and soft colors inside homes when looking, these colors may include: blues, greens, and browns. Orange and Reds are also popular as accent colors, these colors help bring the outdoors indoors which many homebuyers like.
Kitchens
Popular trends and styles for kitchens that homebuyers may like include: six burner ranges, convection ovens, stainless steel appliances such as refrigerators and microwaves. Other styles may include: built in wine coolers, floor to ceiling spice racks, and recessed lightening.
Bathrooms
Many homebuyers now like lots of stone and glass in their bathrooms. Asian-inspired vanities are also popular. Other popular styles include bathrooms with hand held sprayers and motion sensitive lightening.
Specialty Rooms
Many homebuyers are also now interested in rooms specifically for exercise, wine, and toys for kids, and for media such as televisions and stereos. Living rooms that are more open are also popular with possible homebuyers.
Knowing popular home trends and styles can help you as a seller know the selling points of your home and things you can do to improve your home. This will help you sell faster and will make you and the home buyer happy and able to enjoy the future with peace of mind.
Number of Views :82Tips to Flip a House for Money
In this market, not many people have the funds to purchase real estate, but if you or your family does and you have a passion for putting time and work into the purchase you made, you may be able to flip or improve the house and sell it for a profit. This can be considered a type of investing, the only thing is, you need to keep flipping houses in order to make money. It is important that you know how to do this well, so you can get money and not lose money. Here are some important tips to get you started.
Ask a Syracuse real estate agent for advice
As a real estate agent, they know what buyers and sellers are looking for and also which properties sell for more than others and why. They can be a great first resource in knowing who to contact or how to get you start when beginning a house flipping project.
Save up Plenty of money
Flipping a house takes time, effort, and money. In order to improve a piece of real estate it requires having money to put towards the improvements. Saving from 5,000 to 10,000 dollars may be a good idea depending on the improvements, especially if they involve kitchen and bathroom updates.
Look around for a good property
Finding the best property when planning to flip a house is very important. It is important to know how much work the property will take to fix up, why it is being sold and about the location. These are all things home buyers will want to know and you need to know when repairing it.
Buy products wisely
Buy products to fix up the home wisely. Buy them at places that sell them for discounted prices like flea markets. That way you are not spending much when you are going to sell the property. Make sure to install everything property though or you may lose money.
Advertise the property
Once you are done flipping, it is important to advertise the property online, in newspapers, using a real estate agent or consultant and more. That way you can get the word out and have many possible buyers so you can make a decent profit.
In this economy, many people are saving their money to buy a house later, so if you have the money now to invest in a property and sell it later when more people are buying homes, you may make a really decent profit for you and your family. These steps can help save you time, money, effort, and give you peace of mind.
Number of Views :155When Your Home Isn’t Selling
What do you do when, despite working with a great real estate agent, taking care when staging, and pricing competitively, your home still isn’t selling? There are a lot of homes up for sale right now, and a record number of foreclosures on top of that number. That makes it harder for home sellers, and while some homes will sell in weeks, it feels like other homes just sit there, for months.
One of the first things to do is to invite in someone who is impartial to view your home, either another real estate agent (your own agent can find someone for this) or friends who will not sugar-coat the truth. Have them look through, pointing out anything they notice as a potential problem. Your real estate agent has probably already done this, but a fresh set of eyes might be able to catch anything that might not be immediately obvious. Try not to take these observations personally; use them to solve the problem and sell your home.
Stay focused. It can take a while to sell a home in any economy. You need to be patient, even if it is frustrating. Don’t fall for quick fixes. There are programs offering cash for your home, which can sound tempting after several months of waiting. These companies will negotiate for the lowest possible price for your home (usually less than 80%, and then sell it for market value, making several thousand dollars. They take over your mortgage payment, but you are often still liable for it, until after the home is resold. You will be much better off keeping to your plan of selling your home through a real estate agent.
What do you do if you’ve already bought, and moved into, your new home? Paying two mortgages for any length of time can be devastating to your finances. Rather than trying to keep up with both payments, consider renting out your property until a seller can be found. Better yet, consider a rent to own arrangement. You will have the mortgage taken care of, and also be finding an interested buyer at the same time, one who needs a little longer to prepare for buying a home. This will keep them invested in the property (they’ll take better care of it), and you won’t have the hassle of showing the home with renters living there.
It’s beyond frustrating to wait for a home to sell, especially if it is taking longer than you would have first planned on. Just remember that there is a buyer for almost every home, and, unless your home has something very wrong with it, or unless you are setting too high of a sale price, your home is probably not one of the exceptions. Be patient, stick with the current plan of action (making small changes as needed), and your home will sell.
Number of Views :41Incentives to offer a Buyer during a down Market
Even though the housing market is on its way to improving and is even improving in some areas more than others, the market has a whole is down because of the recent recession. Due to this, many buyers are holding off on buying and saving up their money for later and this can be bad news if you are a seller, but there are some things you can do, to help motivate a buyer. Here are some tips on incentives to offer a buyer to help make a sale.
Ask your Syracuse real estate agent for advice and help
As real estate agents, they have plenty of experience knowing what does and what does not motivate buyers to purchase a home. They will be able to offer you some advice and techniques to get you started.
Pay for inspections or repairs
In order to motivate a buyer to buy your home, one option is to offer to pay for an inspection and any repairs to the home up to a certain amount as agreed upon by both buyers and the sellers.
Help with financing
Another motivation is to help with the financing of the home up to a certain amount. If the buyer does not have to pay for all the financing, they will be more likely to purchase your home.
Offer appliance packages
These days many sellers are offering possible buyers free appliance package deals as an inventive to purchase the home. These packages may include washers and dryers, ovens, or even a new television. They are real incentives for any buyer, especially first time buyers.
Give Pre-paid utilities option
This option takes some of the burden off the buyer to pay the electric bill that first month or the gas bill or maybe even the cable bill. This helps motivate buyers to purchase homes and hopefully your home too.
These tips for offering incentives to buyers so they will be more motivated during a down market or recession can make both parties happy. The seller will not have to worry about the burden of paying for two homes in their future and the buyer can enjoy their new home with fewer worries about money and other move in details. It is really a good idea for everyone involved.
Number of Views :58Five Ways to Save up A Down Payment
When you are paying, with monthly utility payments, car payments, and other expenses on top of that, saving up several thousand dollars for a down payment sounds almost impossible, especially in this economy. Luckily, there are a handful of almost painless ways to set money aside, allowing you to buy a home within a few years, if not sooner. Start by opening a savings account with a high interest rate to put your savings into, and then leave the money in there until you are ready to buy.
- Save your tax return. Depending on your living and working situation, this could add up to a considerable chunk of your down payment, especially if you make the commitment to save the whole thing. Set it up so that the money goes in as a direct deposit; if you never see the check or hold the money, it will be easier to save.
- Set up direct deposit for your regular paychecks. Put 10% (or whatever you can afford) straight into your house savings account. Again, what you don’t see, you’ll be less likely to miss.
- As you pay off student loans, car loans, or credit cards (always a good idea before buying a home anyway), keep writing those checks. Instead of going towards your payments, put the amount towards the home. As you are already used to living without that money, you won’t miss it as it builds towards your down payment.
- Draw up a budget plan. Don’t cut out all of your fun money, but try to cut down what expenses you can. Saving $100 a month on groceries, dining out and wasteful spending can add up to an extra $1200 a year. If you can also transfer over to a cheaper cell phone plan, cut down on your cable or satellite costs, and drive less (car pool), you can add even more to that amount. If you aim to cut $50 a week overall, that will add up to a significant $2600 a year.
- Take on a second job. This doesn’t have to be as bad as it sounds. Is there some skill you’ve always wanted to learn, haven’t ever had the chance to learn? Consider this paid education. Learn how to make a perfect pizza, make your lawn extra beautiful (working in a garden store or with a landscaping crew), or consider doing some freelance work. Many department stores offer employee discounts—work in a place that sells furniture or other household items, and you could save a lot when it comes to furnishing your new home.
It’s important to keep motivated. Figure out how much you need to save (aim for 20% of your ideal home price), and make a chart showing your progress. Attend open houses in the area. Being able to visualize yourself owning a home can make skipping your daily latte (in exchange for making coffee at home) less of a sacrifice. It’s not always going to be easy, but with enough commitment, you will be able to buy your first home within a few years.
Number of Views :70