Real Estate: What Are Short Sales?

 

Short sales may mean major money to real estate buyers and easy exits for troubled homeowners. But if you're a first time homebuyer, our Money Talks editor Stacy Johnson explains, it's not as easy as some may want you to think it is. This video runs 1:33…

 

Know anyone who has bought a property in a "Short Sale" situation? We'd love to hear about it, and so would our other readers. Please post any comments about Short Sales below by clicking the "comment" link. Your privacy is protected… we never publish email addresses of any authors who comment here.

 

 

 

Filed under a-Most Recent Post, Homebuyer Tips by First Exclusive Buyers Agent, Inc..

Selling Your Home This Fall in a Buyer's Market

 

Historically, the fall season brings on slower home sale activity. So how do you make your home the highlight of the house-hunt? While curb appeal is still very important, what you do on the inside of your home can be equally as powerful. Here are a few tips to consider:

 

1) Decorate appropriately in warm fall colors: brown, orange and burgandy. Hang a fall wreath on the door, and use fresh pumpkins or gourds for a centerpiece in your dining area. But don't overdo it. Come Halloween, what's great for the kids isn't good for home buyers. So limit the rotting skulls and paper skeletons or confine them to one small area of the home. No matter what season it is, clutter produces poor selling results because buyers cannot envision themselves in your home.

2) If you've got a fireplace, flaunt it. Fireplaces are big selling features in homes (particularly in climates that cool during the fall and winter seasons) and there's nothing cozier to a buyer than a crackling fire.

3) Whether you have a fireplace or not, make sure your thermostat is at a comfortable temperature. A cold home can turn a buyer off, and get their mind reeling about astronomical heating costs.

4) Bake a pie. Seriously. Make it easy on yourself and use store-bought crust — their mind won't know what their nose won’t find out. Use cinnamon in your recipe. If baking is completely out of the realm of possibility for you, purchase a frozen pie to cook… or at the very least bring in a cinnamon-scented candle. Yankee Candle has an excellent fragrant selection that overrules other smells in the house. You could also consider heating up apple cider and setting cider and donuts out on the table for a breakfast display.

5) When the days get shorter, make sure your home stays as bright as a summer day. Open blinds, turn on lights. For showing, table lamps often give off sufficient light. Make sure overhead fixtures are on.

6) You love your pet. Buyer’s don’t. If possible, take your pet somewhere else during a showing of your house. If the weather outside is too cool for keeping the windows open, chances are you could be harboring pet smells and dander that you may not notice yourself. Clean thoroughly and take your pet to a friend’s house if you can.

 

Other factors that could help you sell:

Consider offering seller’s concessions - particularly for first-time buyers. Helping them get in the door can be all the incentive they need to get into your home.

Create a highlight sheet of amenities that your home offers. Post copies by your sale sign for passersby.

Get a good real estate agent. Their expertise can help you get the visibility and purchase price you need to sell your home and move into a new one.

 

If you have any questions or comments about these tips… please use the "comment" link below to contact us. Your email address (although needed in order to post) will never be published here for your protection and privacy. We'd love to hear from you!

 

 

 

Filed under a-Most Recent Post, Home Selling Tips by First Exclusive Buyers Agent, Inc..

How to Come Up With a Down Payment

 

Not long ago, no-down-payment loans were big for homebuyers. But now that lenders have tightened their standards, borrowers once again are expected to pony up some cash of their own for a down payment.

 

Many homebuyers have difficulty coming up with a down payment. Here are some ways to do it:

  • Set up an automatic saving plan.
  • Get a gift from your parents, grandparents, other relatives or friends.
  • Sell a car, boat, motorcycle, collectibles or other assets.
  • Liquidate stocks, mutual funds, savings bonds or other investments.
  • Allocate your income tax refund.
  • Take a loan from your 401(k) retirement plan and repay yourself with interest.
  • Withdraw funds from your 401(k) plan, subject to taxes and penalties.
  • Collect on a loan that you made to someone else.
  • Get a bonus from your employer.
  • Explore homebuyer programs for public servants if you qualify.
  • Apply for a state or local government down-payment program.
  • Use a private down-payment assistance program.

 

Lenders need to know how you obtained the funds and that you've had control of those funds for at least several months.

 

Gifts and seller's concessions are acceptable, up to the percentage allowed by the loan program, but borrowed money can't be used as a down payment, as it is debt that has to be repaid.

 

Two government-run programs are designed to aid homebuyers who haven't saved much for a down payment. The Federal Housing Administration offers mortgage insurance that allows qualified buyers to purchase a home with a 3% down payment, all of which may be a gift. The U.S. Department of Veterans Affairs offers a home-loan guarantee program that helps military veterans buy homes with no down payments.

 

Conact us for more information on this article, or if you have questions pertaining to anything we wrote in this article. Use the comment link below to do that, and rest assured, your privacy is protected, we do not publish email addresses at this stie.

 

 

 

Filed under a-Most Recent Post, Mortgage Info by First Exclusive Buyers Agent, Inc..

Pricing Your Home in a Fall(en) Market

 

It's not new news. Real estate markets everywhere have fallen. If you're trying to sell your home, or even thinking about putting your house on the market, pricing the home to sell quickly can be the trickiest part of all.

 

Our Money Editor, Stacy Johnson, has some advice on pricing your home to sell. This short video runs 1:37…

 

Trying to sell your home this fall? Thinking of buying a home now? Tell us what you think about the current market. We'd love to hear your comments. Use the "Comment" link below to sound off…

 

 

 

Filed under a-Most Recent Post, Home Selling Tips by First Exclusive Buyers Agent, Inc..

Recession? Are You Better Off or Worse Off?

 

It's been seven years since the last recession. Times are tough once again. We'd love to hear your feedback on the question in the Subject Line above…

 

Are you Better off, or worse off, than during the last economic downturn?

 

Your name and email address are required in order to post, but your privacy when posting about this will be protected. Your name and email address will not be published here, only your comments. Please let us hear from you on this question. Just click on the "comment" link below and sound off.

 

 

 

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