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Getting your Home ready to Sell

July 3, 2012 By

If you’re like most people, your home is one of, if not THE largest investment you’ll ever make and maintaining it is key to protecting its value. With Summer upon us, there’s no better time to put a little sweat equity into your hom

e!

Home for Sale

This list is a great start to getting your home in great shape, now, and when you’re ready to sell!

  • Remove and donate unwanted items, reorganize and clean closets, attic, basement and garage
  • Power wash exterior walls, porch floors, deck, patio, driveway and sidewalks
  • Clean outdoor furniture, umbrellas and outdoor light fixtures
  • Clean out gutters
  • Clean out refrigerator and freezer, making sure to vacuum the grill and coil
  • Remove lint from the hose attached to back of clothes dryer
  • Vacuum baseboards, walls and ceilings, wipe down walls
  • Steam clean carpets and area rugs and upholstery
  • Reseal natural stone surfaces (travertine, etc)
  • Reseal and repair grout in bathtubs and showers
  • Clean window treatments, dust and clean blinds and shutters
  • Remove items from all shelves, dust and clean
  • Oil hinges

If

you need help with any of these projects, give me a call and I’ll be happy to provide you with a great list of people to call!

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The Internet and Home Buying

November 10, 2011 By

There’s no doubt about it, the internet is now an intrinsic part in the process of buying and selling homes. The majority of people looking to buy a home search the web for homes fo

r sale in their desired area. Savvy buyers and sellers can compare stock from the comfort of their homes at any time of day or night. But when it comes time to actually buy, there’s more to it than just clicking send.

For starters, make sure what you are searching through is worthwhile. You may enjoy searching through lists of fancy homes, but if you are spending a lot of time daydreaming about houses you can’t afford, it is a waste of time. That is fine if what you are after is to kill time, but if you want to find a home, look within your price range.

This brings me to another point: getting pre-approved for a mortgage. It truly is the first step to home buying. It tells you exactly what you can afford, thereby giving you a price range to look within. It also tells sellers you are serious, and prevents losing a home you are interested in, while the sellers accept an offer from someone who’s more prepared.

And while you can find homes for sale, and even lots of great buying and selling tips on the internet, nothing beats the knowledge and expertise of a certified real estate agent—a real, live person. There is a lot of legal-talk and small-print involved in real estate sales documents. Do yourself a huge favor and always have a professional, either a real estate lawyer, a Realtor®, or a mortgage broker, have a look over the paperwork of your real estate transaction. Don’t rely on the other parties professionals. After all, they work for the other party. You want an experienced professional who is working for you to verify that the contract is fair and legitimate. Even if you don’t hire them for their full services, most real estate agents will help you with parts of a transaction for a small fee.

Another thing internet listings are great for is comparative shopping. You might see a great home, but aren’t sure if the price is realistic. A few clicks can show you what other homes in the area are selling for, and also what other types of homes are available in the same price range.

If you are searching around on the internet for great listings, look for an agent that is also web savvy. Some agents have very clear, user-friendly, readable, and informative web sites. Then there are those web sites that are just factory filler. You can tell by reading the text if they are trying to appeal to you, or just manipulating search engines to get into the top ten list. If a site doesn’t have a person behind it, one with a bio about themselves, and clear listings of what homes they have for sale, then it isn’t worth your time.

The key is, no matter what you find on the web, your real estate transaction will happen in real life. So it’s best to use the internet as one

of many tools in your search for the perfect home.

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What is an FHA Borrowers Re-Purchase Timeframe following a Short Sale?

May 30, 2011 By

Lately, I have been getting a lot of questions about the timeframe sellers that successfully completed a short sale on their home have to w

ait

before they can buy again.  Because of depressed home prices, many consumers understand the benefits with initiating a short sale (if appropriate to their situation), and then waiting the necessary timeframe required so they can purchase again.  So what are the key requirements to know how soon you can get back into the housing market?

These are the first few questions I ask (and typically even NEED to ASK) whenever I get this question:

  • Did the borrower have an FHA Loan? In Arizona (and perhaps across the country), it is my understanding right now you have to wait 3 full years from the date of the sale before re-purchasing. Credit scores are essentially irrelevant in this situation. Remember, even a short sale will negatively impact your overall credit score but perhaps not to the extent of a foreclosure.
  • If answer above was NO; next question would be “Were you current on your loan?“  If you were able to stay current, (not delinquent on any payments), during the short sale process – there is a strong chance you can re-qualify for a conventional loan as soon as the day following the close of the short sale. (There may be other restrictions that would apply on this subsequent loan – seek a loan officer’s advice for more details or give me a call.)
  • If the answer to above was NO, then plan on waiting 3 years to apply for financing

    again unless you have good fortune and do not need to seek financing on your next home purchase (pay cash).

Hope this helps. If anyone has information that may supplement or correct what I have here, please contribute. If you know anyone in your circle of family or friends that is underwater in their home, please have them give me a call.  There are numerous government programs and options available to them, including a short sale. I just want to help homeowners!

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