I have about 12 free tickets for the Home Building & Remodeling Show.  It runs from  Jan 9-11 at the Penrose Event Center.  They are first come first serve, so please let me know if you are interested. -- Donna My goal is to be your Realtor before you need one, by always being there for you!

Travel Host link for the Pikes Peak Area!

Travel Host

November Stat Pack from ERA Real Estate

November Stat Pack from ERA Real Estate

Sales remain strong but mostly in the $225,000 range and below, checkout the inventory levels in East, Falcon, Northeast, Powers, and Southeast all are under 3 months! 78% of the sales this month were under $300k, this is very high.Feel free to call or email if you have questions about hoe this report relates to you and your home. 

Most Overlooked Home Features & How to Spot Them

Conventional wisdom holds that prospective buyers are drawn to a home’s kitchen, baths, and obvious upgrades such as hardwood floors and large closets. But there are also many overlooked upgrades that help a home stand out, provide additional security, or boost convenience. Some of the most sought after, yet often overlooked upgrades, include:

• In-ground lawn irrigation An in-ground irrigation system offers homeowners a yard that essentially waters itself. Gone are the days of hauling a garden hose across the yard to keep the grass green and the garden soaked.
• Energy efficient windows Upgraded energy efficient windows may be hard to spot, but they make themselves known by helping keep the house warm, eliminating leaks and drafts, and working to reduce a home’s heating and cooling costs.
• Cast iron pipes Pipes sit deep in the walls of a home, causing cast iron pipes to easily be one of the most overlooked home features. Cast iron plumbing is far sturdier than the standard PVC pipes and provides more comprehensive sound insulation.
• Security door  A steel security door offers your family an excellent combination of safety and insulation. A steel door is far more secure than the conventional hollow core door installed on most homes. It also works to dampen exterior sounds and provides exceptional insulation.

Our ERA Real Estate agents can help you determine which are the most overlooked home features in your area when choosing the perfect new home for your family. Contact our team to learn more about our work with home buyers.

Homebuying for Parents: Getting the Most Home on a Budget for a Family

If your family is on a budget, you may think that you won’t be able to find a house in your price range that will please the kids and meet your needs.

But that’s not necessarily true. These tips can help make sure that buyers are getting the most home on a budget for families:

Consider an existing home

New homes can often cost more than already-existing ones, due to increases in the cost of materials over time. Look for an existing home, and you’ll have a wider variety of styles and price ranges to choose from without sacrificing quality.

Look beyond décor

To get the biggest bang for your buck, put a priority on things that are harder to change. For example, if the home has enough bedrooms, bathrooms, and square footage for your family, you can live with flooring or paint colors that aren’t your favorite. These fixes are relatively inexpensive and can be addressed later.

Prioritize family-friendly features

To make sure you’re getting the most home on a budget for families, put the emphasis on what will be important to you and your family. Sure, those granite countertops or skylights are nice, but for a family with children, a home in a friendly neighborhood with good schools and parks may be more valuable.

Consider the floor plan

Some floor plans lend themselves to a family spending time together. For example, an open floor plan can let you fix a meal in the kitchen and still talk to the kids, who may be spending time in the family room.

If you have very young children, you may prefer that the bedrooms be close together or at least on one level. But if your children are a little older, a split bedroom plan may provide a little more privacy.

Lewis Palmer Middle School Yankee Candle Fundraiser

Lauren(my daughter),  is doing a school fundraiser and if you like Yankee Candles, here is a way to help and enjoy these wonderful candles!

Her school code is : 990046186
and her selller id is: Lauren78

Thank you!

www.yankeecandlefundraising.com

 

Hybrid Mortgages: How They Differ From ARM’s & Fixed Mortgages

If you’re looking into buying a home, you’ve probably noticed that there are several different types of mortgages available. Two of the most basic are fixed rate and adjustable rate mortgages, or ARMs. You also have the option to choose a hybrid mortgage.

What is a hybrid mortgage? It’s a mortgage that has qualities of both fixed rate mortgages and ARMs. With a hybrid mortgage, you’ll be paying a fixed interest rate for a certain period of time. Once this time is up, your mortgage will switch to an adjustable interest rate for the rest of the loan’s duration. The period of time for the fixed interest rate can range from three years to ten years. There’s also an option to do an interest-only hybrid loan that has you only making interest payments for a certain period of time before you start making payments on the principal balance.

What are the advantages of a hybrid mortgage? You’ll know exactly what your payments will be during the fixed interest rate period, so you can budget accordingly. While your payments will change once the rate switches to an adjustable one, ARM interest rates are usually lower than fixed ones.

Should I apply for a hybrid mortgage? A hybrid mortgage isn’t for everyone. It’s ideal for buyers who don’t plan on keeping the home once the fixed rate period of the loan is over. A hybrid mortgage gives buyers a chance to pay a fixed rate that’s a bit lower than typical fixed rates. Buyers can then sell the home before the adjustable rate period kicks in.

Need more information for understanding what is a hybrid mortgage? I invite you to give me a call!

Operation Money Free Download!

A wonderful resource for the military family and anyone wanting to get control of their budget.

https://www.jeanchatzky.com/operation-money/

Before You Buy a Condo, Consider These Topics For Purchase

Condos provide an ideal home for those who want their own property without having to worry about doing yard work. Buying a condo isn't the same as purchasing a single-family house, though.

If you’re thinking of going this route, pay attention to the following considerations when buying a condo:

• You’ll have to pay extra fees. In exchange for not having to mow the lawn or rake leaves, you’ll have to pay monthly homeowners association fees that cover maintenance and repairs. Keep in mind that paying these fees comes with perks, such as access to a community pool, fitness center or doorman service.
• You’ll have to follow rules. Each condo community has its own set of rules and regulations that all residents must follow. Look over these policies before signing anything to make sure that you’re ok with them. Restrictions can range from a no dogs allowed policy to rules on what you’re allowed to put on your front door. Also, look into the parking situation, such as how many parking spaces you have and where guests should park.
• You’ll want to find a condo with good management. Take a look at the minutes from board meetings to get a feel for how satisfied residents are with management and to find out if management is facing any pending lawsuits.
• You won’t have as much privacy. Remember that a condo is much like a town home or apartment. You’ll have a shared wall, possibly on both sides, which means the possibility of overhearing sounds from next door. You’ll also see your neighbors more often, so make sure you don’t mind having more frequent interactions with them.

Need more information on considerations when buying a condo? I look forward to hearing from you!

Market Basics: How are Mortgage Rates Set?

When you’re looking to buy a home, you’ll want to try and get the lowest mortgage rate possible. That means paying attention to fluctuations in these rates, which can be confusing. If you know the basics of mortgage rates, you’ll gain a better understanding of why they change so often.

How are mortgage rates set? This is the most basic piece of information you’ll need to know. These rates aren't set by banks and other home loan lenders. Instead, they’re determined by a secondary market made up of investors. These investors can either keep the mortgages they buy or sell them to other investors in bundles. The price that secondary market investors pay for these mortgage backed securities (MBS) are ultimately what determines mortgage rates. In order to understand why these rates fluctuate, you need to take the stock market into consideration. Investors generally consider stocks to be riskier, while MBS are considered safer, which has a direct effect on mortgage rates. You can expect these rates to increase when the economy is in good shape or recovering, since investors tend to put more faith in stocks and buy fewer MBS. Mortgage rates generally decrease when the economy isn't doing well, since investors tend to shy away from stocks and put more money into MBS investments.

Keeping track of these rates and the fluctuations they go through, even throughout the course of one day, can be very challenging. ERA Real Estate agents fully understand how are mortgage rates set and can help you find a competitive rate for your home loan.

Need more information on home loans? Contact Donna Hatch, dhatch@erashields.com or 719-684-4121

Another sign Colorado Springs-area housing market is on the mend

Another sign Colorado Springs-area housing market is on the mend

CoreLogic Reports 946,000 Residential Properties Regained $1 Trillion in Total Equity in Q2 2014

CoreLogic Reports 946,000 Residential Properties Regained $1 Trillion in Total Equity in Q2 2014

Understanding Contingent Offers as a Homebuyer

When you’re trying to buy a new home and sell your current one at the same time, things can get complicated as far as timing. If you find a home to buy but haven’t found a buyer for your current home yet, you’ll need to make a contingent offer.

What are contingent offers for homebuyers? These refer to offers that hinge on the buyer being able to sell their home. In other words, you’re telling the seller that you’ll only be able to buy their home if you can sell yours. When you make a contingent offer, the seller can accept, but they might also give you notice of a first right-of-refusal if they get another offer on the home while waiting for you to sell yours. The first right-of-refusal provides you with a certain amount of time, ranging from 24 hours to several days, to remove the sale contingency on your offer. If you decide not to remove it, the seller can refuse your offer in favor of the other one they’ve received.

If you really don’t want to lose the home to the other interested buyer, you have some options for coming up with the money you need. These include:

• Tapping into a home equity line of credit. If you have one of these set up already, you can transfer funds from it or write out a check.
• Asking family for funds. You can ask family members for enough money to cover the cost of the downpayment.
• Get a higher mortgage amount. Make a lower downpayment, but keep in mind that this results in a higher loan amount and higher interest rates.

Need more information on contingent offers for homebuyers?

5 Fall-Infused Staging Tips for Selling Your Home Quickly

Fall selling season is in full swing. There’s no better time than the present to use autumnal inspiration to stage a home that could help draw more buyers in a short amount of time, boosting your chances of selling your home quickly.

Here are five fall-infused tips to get you started:

·        Improve your home’s curb appeal. In addition to mowing your lawn, weeding and power washing; place pumpkins on your porch, colorful mums in outdoor planters and a seasonal wreath on the door. For a DIY wreath, check ERA Real Estate’s Autumn Inspiration board on Pinterest. 

·        Make your house look immaculate. Sure, you need to sweep and wash the floors, wipe down the counters, scrub grout, etc. But a clean house also means clearing the clutter. To do this, consider using pretty baskets (preferably with lids), then wrap an orange ribbon around it or use floral wire to adorn with fabric orange and yellow leaves. Then, strategically place it so it looks like purposeful décor rather than storage.

·        Create an inviting look. Brighten up your home with inexpensive pumpkins, gourds, and flowers throughout your home. Seasonal fresh produce such as apples and squash can also improve your home’s aesthetic appeal.

·        Show off your closets. Potential buyers will want to see how big your closets are. You don’t have to empty them, but try to leave around 30 percent of each one open. And again, use season-inspired boxes and baskets to cleverly hide clutter.

·        Make rooms look bigger or smaller, as needed. Rearrange furniture to make smaller rooms look more spacious and to give bigger rooms a cozier feel. Speaking of cozy, place an autumnal throw or decorative pillow on a chair, preferably in a solid, muted color such as light orange or brown.

For 12 more staging tips, click here. To learn how to further play up the pumpkins for fall décor and for organization inspiration, visit Pinterest.                    

 

http://www.pinterest.com/erarealestate/autumn-inspiration/

Fido & Fluffy: Selling a Home With Pets

Your pets are undoubtedly an important part of your life, but just because you love them doesn’t mean buyers will. When you’re putting your home on the market, it’s best to hide evidence that you have pets. Otherwise, you could risk turning off potential buyers.

When selling a home with pets, follow these tips:

• Find them a temporary home. When buyers will be walking through your home, try not to have your pets around. Even if they’re well-behaved, there’s no guarantee that the buyers will be pet-friendly people. Have your pets stay with a family member or friend during this time, or find a reliable kennel to board them at if possible.
• Get rid of stains and odors. If your pets will be at home while your house is on the market, take extra care to make sure any stains or odors are dealt with. Keep litter boxes in an out of the way place, and clean them every day. Remove carpet and floor stains, and replace the flooring if the stains won’t come out. Use enzyme cleaners to get rid of unpleasant pet odors, such as cat urine.
• Crate your pets. Put your pets in a crate or carrier during showings in order to keep them out of the way.

Need help selling a home with pets? 

Bottom Line: Long-Term Value of Homeownership & Investment

Owning a home provides a number of perks, many of which come in the form of long-term financial benefits. There’s a reason why buying a house is considered one of the best investments you can make.

These are some of the long-term real estate investment advantages you’ll enjoy as a homeowner:

• Building equity. You’ll build equity while you’re sending in mortgage payments every month. This equity will come in handy when you decide to sell your home and buy another one, or you can use it for other purposes, such as investing in a second real estate property.
• No worries about inflation. Unlike rent, your mortgage payments won’t increase thanks to inflation. You’ll be paying the same amount each month if you have a fixed mortgage.
• Boosting value. You can improve your home’s value and get more money for it when you sell it by fixing it up. While you’ll have to spend the money upfront to do home improvement projects, you’ll get at least part of that money back if you do projects that have a high return on investment.
• Increasing value from appreciation. This is one of the most significant long-term real estate investment advantages. Real estate is typically a solid investment because it tends to appreciate rather than depreciate. Just keep in mind that this also depends on the area you’re in.
• Tax breaks. You’ll be able to deduct the cost of your mortgage interest each year, as well as your property taxes. You might also qualify for other tax deductions if you make certain improvements on your home. This could lead to a bigger tax refund each year.

Benefits of Hiring a Realtor in the Buying & Selling Process

You’re not required to hire a real estate agent in order to buy or sell your home, but there are several advantages to doing so. Unless you consider yourself an expert at the buying or selling process, you’re taking a considerable risk if you handle these types of transactions yourself.

These are some of the most important benefits of hiring a Realtor if you’re selling:

• A more accurate listing price. Real estate agents are familiar with the market, as well as local homes for sale or ones that have sold recently. They will take all of this information into consideration when determining the best listing price for your home.
• Valuable services. Real estate agents provide sellers with a long list of services, including increased online exposure, expertise in negotiating and making counter offers, high-quality marketing materials, referrals for home inspectors and contractors and feedback from interested buyers.
• Help selling in a buyer’s market. When you’re attempting to sell a home in a buyer’s market, having a real estate agent at your side can boost your chances of selling your home at a good price.

Here are a few benefits of hiring a Realtor if you’re a buyer:

• Early notice about available homes. Real estate agents can give you a heads up about properties that are available before they are publicly listed.
• Valuable information. Real estate agents can provide you with important information that can be hard to come by on your own, such as comprehensive property profiles, MLS sales data, a home’s historical records and annual local facts and trends.
• Negotiating skills. Your agent can come up with a solid offer for the seller and help negotiate a competitive price for the home.

Ready to hire a Realtor? Contact me today!

Why Home Investment for Millennials is Crucial & Saves Money

Buying a home is one of the best investments you can make, especially if you’re a Millennial. It allows you to build up equity over a number of years, which you can use to purchase a larger home at some point in the future. There are also several other benefits of owning a home.

Here is some valuable homeownership and real estate advice for Millennials to consider:

• Paying a mortgage is more financially desirable than paying rent. When you rent, your money goes to a landlord rather than going toward paying off a home loan. When you own a home, you’ll eventually own that home once it’s paid off and you won’t owe any more payments at that point. When you rent, you’ll always have to write out a rent check every month.
• Owning a home comes with considerable tax benefits. Homeowners are eligible for big tax breaks, thanks to deductions on property taxes and mortgage interest payments. This lowers their tax bills and boosts their chances of getting a hefty tax refund.
• Owning a home protects you from inflation. When you buy a home, you don’t have to worry about inflation affecting housing costs, since you’re already locked into a mortgage. When you rent, you do have to worry about rent prices going up in order to keep up with inflation.
• Being a homeowner can help you become more financially responsible. If you’re not used to setting aside money on a regular basis, owning a home could force you to do so. You’ll need to have money on hand in case your home needs unexpected repairs or maintenance.

Need more homeownership and real estate advice for Millennials and other home buyers? Visit me at www.destineddwellings.com !

Key Options Homebuyers Want in Their New Homes

When you’re determining how much you should list your home for, it’s important to consider what will appeal to home buyers. Certain features are more desirable than others, and buyers are often willing to pay more money for a home that has one or more of these.

These are some of the options home buyers look for the most:

• Stainless steel appliances. These appliances provide aesthetic appeal in kitchens. While buyers with small children might not necessarily want these, roughly 41 percent of buyers are willing to pay around $1,850 more for a home with stainless steel appliances.
• Central air conditioning. Roughly 69 percent of buyers will pay around $2,520 more for a home with central air. This type of cooling system makes homes more comfortable, especially those in warmer climates.
• Walk-in closet in the master bedroom. Around 60 percent of buyers are willing to pay an extra $1,350 for a home with a huge closet in the master bedroom. Big closets are a major draw for many buyers, especially those who are between 35 and 54 years old.  A walk-in closet provides additional storage space and serves as a status symbol.
• Hardwood floors. Roughly 54 percent of buyers will pay $2,080 more for a home with hardwood floors. This is especially true for buyers who are under 55 years old, while older buyers generally prefer carpeted floors. Buyers usually want hardwood floors because they’re more convenient to clean and look nicer if they've been well-maintained.

If your home has any of the options home buyers look for, make sure you draw attention to those in the listing information. Doing so will make it easier to attract buyers.

Need help selling your home? Contact me and let's get started!

Buying a Home? Understanding the Real Estate Market Before Purchasing

Buying a home is a complex process that can seem overwhelming, especially for first-time home buyers. Knowing more about what to expect can make the process seem a bit clearer, which can ease buyers’ concerns.

Here are some of the basics to keep in mind for understanding the real estate market:

• Get a pre-approval letter. This piece of paper indicates that you’re financially ready to buy a home and lets you know the estimated amount you can expect to borrow. This letter comes from a lender, who will verify all of the information you give them.
• Know the lingo. The real estate market has its own lingo that can be confusing to buyers. Commonly used terms include “closing costs,” which are the expenses the buyer and seller pay when completing the deal, and “listing,” which refers to the buyer’s agreement to let the real estate broker market the home and take care of selling it.
• Choose the right mortgage. There are several types of home loans available, including fixed rate, adjustable rate and special loans for first-time home buyers. You should choose a home loan that fits your financial situation and helps you afford a home that’s within your budget.

Want more help understanding the real estate market? Contact me today!

Buyers Market: Making the Best Offer on a Home

Once you've found a home you like and have cleared the mortgage hurdle, it’s time to start thinking about the negotiating process. This requires careful planning in order to improve your chances of making a successful offer. You also need to take home closing costs into consideration.

Wondering how to negotiate with the seller? Keep the following tips in mind before you make your offer:

• Try to limit contingencies if possible. Contingencies make offers less desirable to sellers, so try to avoid them if you can. Contingencies include things like home sale contingencies, where you have to sell your home in order to afford to buy a new one, and home inspection contingencies, which state that you don’t have to go through with the purchase if the inspector finds major issues.
• Handle home closing costs carefully. Obviously, you don’t want to pay the entire amount of the closing costs if possible, but asking sellers to cover part of them could hurt your chances of having your offer accepted. If you do plan on asking the seller to pay for part of the closing costs, you can sweeten the deal a bit by being flexible about the closing date.
• Make a cash offer if you can afford to. This isn't possible for most home buyers, but a cash offer is the best way to ensure that your offer is accepted. If you do make a cash offer, you don’t have to get an appraisal done, but you might want to consider doing so anyway in order to make sure that you’re getting a good deal.

Looking for additional information on negotiating a home offer and understanding home closing costs? Call me!

Why buy? Homeownership still offers advantages over renting.

Faced with college loan debt and a tight labor market, many Millennials in their 20s and early 30s are putting off purchasing a home. According to U.S. Census data, home ownership for Americans under age 35 declined to 36.2 percent in the first quarter of this year. Another 36 percent of young adults ages 18 to 31 live in their parents' home. Others rent – which raises the question, "Does it make more sense to rent or buy?"

Buying a home still makes sense.
Although increasing home prices in some areas might make renting seem attractive, home ownership offers many benefits – financial and otherwise. In a recent New York Times article, Neil Irwin noted that "thanks to low interest rates and home prices that remain 13 percent below their 2006 peak nationally, buying continues to look like a good deal in much of the country."

Five advantages of buying over renting
Every market and every prospective buyer are different, but here are some benefits of buying a home:

1. Equity
In the past 20 years, the median sales price of existing single-family homes rose 81 percent. For those who plan to stay in the same place for at least five to seven years, the increase in value can often offset the costs of buying the home. When that equity grows, the homeowner may be able to borrow against it for major purchases or educational expenses.

2. Predictable payments
Rent payments can increase steadily or suddenly. With a fixed-rate mortgage, buyers pay the same amount each month no matter how many years they live in the home.

3. Tax deductions
Many home buyers can deduct mortgage interest and property taxes on their tax returns. Those who work at home may also be able to take home-office deductions.

4. Control
Unlike renters, homeowners can paint their walls any color they want and don't need to ask a landlord for permission to hang pictures or renovate. For many, that's priceless.

5. Pride of ownership
Buying a home is an investment, but also so much more. It's a lifestyle choice and continues to be part of the American dream.

  

The majority of the approximately 80 million Millennials have not yet made the move toward home ownership. A Realtor® can make them aware of the advantages of buying a home and encourage them to speak with a Mortgage Advisor, who can help them understand what they might be able to afford. Great first steps!

The Life Cycle of Your Mortgage Loan Application

For some home buyers, anxiously waiting for the decision on their home loan application can seem like it takes forever. In reality, it doesn't take that long from the time the application is submitted until it gets approved or rejected.

These are the basic steps for the mortgage loan application process:

• Meeting with a loan officer. During this meeting, you’ll provide the loan officer with information on your financial situation. The loan officer can give a rough estimate on what you might qualify for, which is known as a pre-approval.
• Completing your application. You’ll need to gather up the information required for the application, such as bank statements, tax records and W2 forms. You’ll also need to hire a local appraiser to determine what the home you’re interested in is worth.
• Submitting your application. Once you submit your mortgage application, the lender has three days to look it over and give you a good faith estimate, which has information on the loan, fees and terms offered, and a truth-in-lending form, which lets you know the loan’s annual percentage rate.
• Having your application reviewed. After you receive the documents from the lender, they pass your application over to processors for a closer inspection. These processors look for any information that indicates that you might be a risky applicant.
• Waiting for the underwriter’s decision. The underwriter is responsible for deciding whether your mortgage application should be approved or rejected. The underwriter also ensures that your application meets mortgage lending guidelines.

The mortgage loan application process can take as little as a few days if your situation is a simple, straightforward one. It might take a little longer if anything questionable appears on your application.

We look forward to seeing you!

Most Common Remodeling Project: Baths vs. Kitchens

Remodeling isn't just for homeowners who are tired of their home’s current look. These projects also boost the home’s value, which is a big advantage whether you’re getting it ready for the market or just settling into a new home.

The most common remodeling projects involve making changes to bathrooms and kitchens. This really isn't surprising if you consider the fact that buyers usually focus on these rooms the most when looking for a home to purchase. Bathrooms have a slight edge over kitchens when it comes to which remodeling project is the most common. The National Association of Home Builders’ 2013 Remodeling Market Index survey showed that 72 percent of respondents had bathroom projects done, while 70 percent had their kitchen remodeled. Bathrooms and kitchens are always among the top remodeling projects on these surveys, but at one point, kitchens were ahead. In addition to being the most important rooms for buyers, kitchen and bathroom remodeling projects also typically yield a high return on investment, meaning that you’re more likely to get back all or most of the cost of these projects when you sell your home.

While bathrooms and kitchens are the most common remodeling projects, there are a few other types that are also done quite a bit. These include replacing doors and windows, remodeling an entire house, adding a room, installing a deck and repairing damage. Whether you’re preparing to sell your home or planning on fixing up a new home, keep these kinds of projects in mind, along with kitchen and bathroom remodeling projects.

Ready to get started on home buying or selling a home? Just call and hear how I can help!

Added Square Footage: Building Your Own Storage Shed

If you've discovered that you’re going to need more space for all your belongings, you don’t have to look for a bigger home. Instead, you can build a shed on your property if you have the right skills and materials.

For building your own storage shed, you’ll need a wide range of materials, including corrugated metal, eye and ear protection, a drill, measuring tape, a framing nail gun, screwdriver bits, a door lock, studs for wall and roof framing and plywood. Keep in mind that these are only some of the materials you’ll need for this project. You should be able to find everything at your local hardware store. Once you have what you need, you’ll need to check your local building codes to see if you’re going to need a permit. When that’s taken care of, you can start your project by measuring the shed dimensions and cutting the wood pieces ahead of time. After this, you’ll need to do the following:

• Build the floor. This involves using shank nails and studs to put the floor frame together.
• Build the frames for the back and side walls. The side walls should slope so that rain water will run off the shed roof. Just make sure that these walls don’t slope toward your home’s foundation.
• Build two front wall frames. Leave enough space between these two frames for the door.

Once you have these basic frames built, you’ll need to join the walls together, construct the roof, install exterior corrugated siding and add shelves inside the shed. The last step in building your own storage shed is hanging the door.

Need more tips on finding and fixing up a new home?  I am here to help.

Home Appraisal vs. Neighborhood Listing Prices

When you have your home appraised, you might notice that the appraisal value is different from what homes in your area are listed at. You don’t need to worry too much about this difference, though. Appraisals and listing prices vary for a number of reasons.

Here are a few things to keep in mind about home appraisal vs. neighborhood listing prices:

• Appraisals reflect how much your home is really worth. There’s some degree of subjectivity in the appraisal process, but most appraisers adhere to standards that help keep this to a minimum.
• Appraisers compare your home to other local homes that have sold in the past three months. They also take a close look at certain factors, such as your home’s amenities, condition and style, to help determine the appraisal value.
• Listing prices have a high degree of subjectivity that comes from the Realtor and the seller. The Realtor will try to help the seller get as much as they can for the house, while the seller might want to include closing costs and Realtor fees in the amount they’re asking for.
• Listing prices might be lower when sellers are trying to sell their home as quickly as possible. Keep this in mind if you notice similar homes in your area that have much lower listing prices than yours. You don’t have to lower the amount you’re asking for to better match theirs, especially if you’re not in a hurry to sell.

Home appraisal vs. neighborhood listing prices can be a confusing issue and even a cause of concern for some sellers, but it shouldn't be. Your appraisal amount will help you determine how much to list your house for.

Need help finding a reliable appraiser? Give me a call!

5 Things Most Potential Homebuyers Notice First

Getting your entire home ready for potential buyers is a crucial part of the selling process, but there are certain areas that you should pay special attention to. Buyers tend to look at particular factors in a home before anything else, so it’s important to make the most of these.

These are five of the things homebuyers notice first:

·        Indoor decor: Most buyers like to see neutral colors in a home. This makes it easier for them to envision how their belongings will look there. If your home is filled with bold colors, consider changing them to neutral ones wherever possible.

·        Roof: Since your roof protects your home from the elements, you can bet that buyers will be looking closely at it. You don’t have to spring for a new roof if yours is in good shape, but make sure you replace loose shingles and fix up other minor flaws.

·        Infrastructure: Buyers will want to see your heating and cooling systems, water and electrical setup to make sure these things are in good shape. Some buyers might prefer a home with a more energy-efficient infrastructure, so you might want to look into making those changes if they’re in your budget.

·        Layout: If your home’s layout reflects current trends, such as more open space, then you’re in good shape. If not, you’ll have to play up your home’s other attractive features and convince buyers that the layout will still work for them.

·        Patio: A patio is among the things homebuyers notice first, so it’s important to make sure yours is clean and in good condition. You can also make a better impression by dressing it up with seasonal decorations.

Make the first impression count!