Preparing Your Home for a Successful Open House

Buyers are drawn to homes that appeal to their senses. This is important to remember when preparing your home for an Open House. Through sight, sound and smell, buyers should leave your home with a lasting impression. Here are some tips to showcase your home in the best-possible light.

Exterior
Start outside by inspecting the front of your home from across the street. Does it have curb appeal? It should look inviting, with a trimmed lawn and flowerbed and a freshly painted front door. Polish door handles and knockers and replace worn items such as a rusty doorbell. Consider adding a new doormat and flowering plants at the entrance. Do the windows need cleaning? Be sure to remove oil stains from the driveway.

Next check the side and back yards. Add some flowering plants to the back as well. Rearrange the outdoor furniture to look inviting. Put away gardening tools. Tidy around the grill area.

Interior
Now focus on the inside of the home where cleanliness, space, smell and lighting are key. First, get your house in tip-top condition by cleaning and clearing away clutter. Steam clean and vacuum the carpet. Make sure your floors are waxed and shiny. Touch up nicks on walls and make sure the porcelain sinks and tubs and metallic fixtures shine. Your kitchen and bathrooms should pass the white glove test. Be conscious of any lingering odors such as smoke, pets or strong-smelling foods. You may need to air out your home prior to the Open House. Consider grinding fresh lemons in the garbage disposal or even baking chocolate chip cookies. And don’t forget to empty all trashcans.

Next, set the mood. You want buyers to be able to picture your home as their own. Consider rearranging the furniture so that rooms look more spacious. Add accessories from rooms with too many furnishings to those that appear bare. Look at your countertops in the kitchen and bathrooms and the tops of your bureaus. Do they seem cluttered? Clear away and store as much as possible. The idea is to make your home appear spacious.

Lighting is also an important factor in creating an inviting atmosphere. Bright lights provide a cheerful environment and make a small space appear larger. Pull back all the drapes and open the blinds. Turn on all the lights. Make sure all the light sockets have working bulbs and install the maximum-wattage bulb that is safe for that fixture. For rooms that you want to have a warm, cozy feeling, use softer lights.

Don’t forget little touches such as fresh flowers, lighted candles in the bathrooms, new logs in the fireplace, or a bowl of fresh fruit on the kitchen counter. You may even want to set your dining room table with color-coordinated table settings.

An Open House is a terrific way to show your property to many people in a short amount of time. However, keep in mind that buyers may see seven or eight homes in a single day. The most memorable home will be the one that seemed the brightest, the most spacious and the most cheerful. So, don’t rely on buyers to use their imagination.
Help them capture it. Work with your real estate professional to get more tips on creating an unforgettable home.

Benefits or pitfalls of selling your own home

 Professional Realtors prepare for the home-showing process, and have verified the status of
the buyer to ensure that they are ready, willing and able to purchase the property. We have
systems to track each time the home is shown. It is easy to get a record of each person who
has shown the house, and they can provide client contact information.

 When a homeowner chooses to sell his own home, the seller is opening the door to strangers,
allowing them to wander through the house and assess the family and valuables. Rarely does
a homeowner ask for identification or know if the prospective buyer is ready, willing or able
to purchase the home. This alone puts the seller and family in a vulnerable position.
Who is showing the home and are they aware of the safety issues that may arise? Do they
have an exit plan in case of danger? Please think safety.

 What about marketing the home? As an owner, the seller is limited in access to marketing
venues. For example; 75 percent of home buyers look at the Internet first. Working as a
Realtor at a full-service real estate company, the properties that are marketed are available at
multiple Web sites with proven success rates for marketing on the Web. The power of a
national brand allows a realty to market properties in targeted periodicals, use national, as
well as local marketing venues and provide exposure for the property to the maximum
number of qualified prospective buyers. Relocation alone avails full-service realties with
numerous opportunities to reach buyers that a seller would reach, only if that buyer drove
down the street, or looked on a specific Web site.

  How do professional Realtors know that the seller's property is available? The majority of
buyers work with professional Realtors. But, how will they know about the home? How can a
seller ensure that the professionals with the proven track records know that their home is on
the market? Marketing involves a great deal more than just advertising. Professional Realtors
network, promote and otherwise market not only the property at hand, but others that may be
of interest. Leaving the professional out of the mix could cost the seller multiple buyers.
Marketing also includes preparing the home to be shown. Most of us live in our home a bit
differently than we would show it.

 Who knows how to make the home most appealing? HGTV shows examples of this on its
regular programming. Many times "the little details" make a huge difference in presentation.
Over preparing for marketing is dangerous also. It may cause the seller to put more money in
than they will get out. Not a good idea.

 What about the availability of the home for showing? If a seller is working or otherwise away
from the home, how many potential buyer calls or appointments are they missing?
Professional Realtors again have systems to handle the call, arrange for the showing and
track the feedback of the prospect.

 Statistics indicate that sellers who sell their properties without the assistance of a
professional Realtor will leave 15 percent to 42 percent on the negotiating table. The average
sales price nationwide for homes sold by owners is $137,000. The average sales price for
homes marketed by professional Realtors is $175,000. These statistics are quoted on national
Web sites and publications. Why are the averages so different? The red and white for-saleby-
owner sign indicates that the home is on sale, not for sale. The seller believes he is saving
the commission and the buyer believes that since there is no commission the home is less
money, thus starting the negotiations on a negative for both sides. Is that the best way to start
negotiating?

 This brings us to negotiating the offer. What are the negotiating skills of the seller? What if there is no
professional Realtor involved? The seller and the buyer enter into a negotiating process that may, or may not begin with full disclosure or knowledge of all that is involved inthe process. What about inspections, disclosures and lender requirements? What buyer or seller is fully informed when they enter into negotiations that do not involve a
professional Realtor? What seller is aware of the disclosure requirements by the state? What buyer is aware of the lender requirements for the loan, or what inspections will save them time and money or more? What is a title search and exam? Why is it important? What does the attorney do for the seller or the buyer? Who pays what and why? Is it necessary to have flood insurance? Who pays the
documentary stamps? What about taxes? What happens to the taxes for the buyer? Who pays
the intangible tax and what is it anyway? In today's market, people who have been through
the process several times may not be aware of the advantages of various mortgages, historic
designation requirements or dozens of other pitfalls that may occur during negotiations
through the closing process.

 Sellers are often too involved personally in the transaction, and it is difficult to negotiate
objectively when one is personally involved. Many sellers are attached to the home and the
improvements they have done to the home. They may oversell or sell enhancements that may
not be as attractive to the buyer as they are to the seller. It is better for a buyer to preview the
home without the seller present, so that they can picture themselves in the home and mentally
take possession. A seller can unintentionally sidetrack this process.
The majority of homes are sold by professional Realtors (86 percent) even if the homes are
listed by the owner. This is referred to as cooperating with a broker. The reality is that the
seller is negotiating with a professional Realtor who has experience and knowledge on her
side. The buyer is the customer of the agent, and the agent is negotiating on behalf of the
buyer, therefore the seller may be at a disadvantage. Who is the agent working for, and who
is saving what?

 Do professional Realtors make mistakes? Sure, and when they do there may be errors-and omissions
insurance, a board of ethics and the Florida Real Estate Commission involved. But,
when an owner makes a mistake, it is the equity in their home, or more, that is at stake. Can
an owner afford to sell his home on his own?

You may hear that there are many for-sale-by-owner properties and they are selling. But, are
the sellers getting the best value and the right bottom line? Selling fast is not always the best
thing if one could increase the bottom line by pricing the property right and using effective
marketing. Sure, properties sell by owner, by limited service companies and by menu of
service companies. But, what seller is getting the most value from the property and walking
away from the closing with a smooth transaction, knowing that things are right and with the
most money? Just today I heard about a seller who made a decision to sell to a friend,
because he could not believe his house was worth as much as the professional Realtor had
told him. Last week, I sat in on an appointment where a seller came very close to selling for
$100,000 less than the market value of a property, because they did not have the technical
knowledge to make appropriate adjustments and market-value assessment to ensure the right
pricing. Yes, sellers enter the real estate business every day without the proper education,
training, knowledge or equipment to do the best job for themselves in the safest environment.
The state requires that professional Realtors be licensed and work with a broker that has even
more education and licensing requirements. Additionally, there are state and national
requirements for continued education. Most companies require additional training, both
initial and advanced, to keep up with the ever-changing real estate market and legal
requirements. If it were the best thing for buyers and sellers to work for themselves, or if it
were as easy as the professional Realtor makes it look, would there be so many requirements
for the professional Realtor? Would there be so many check systems and insurances? A true
professional Realtor cannot be judged just by the badge or the title, but by the people they
have serviced. National surveys say that 86 percent of people surveyed would do business
again with the person that sold them their home. The most important asset that a professional
Realtor has is her reputation; the reflection of the customer service that she provides to her
customers and clients. Can the seller or buyer do it themselves? Sure, but it is not safe, wise
or as profitable.

Is It Better to Buy or Rent?

The market is ripe for buyers right now. Interest rates, although slightly higher than this time last year, are still at an all-time low, and the National Association of REALTORS® predicts that 2006 will be the third all-time best year in real estate. So naturally you should be telling your landlord goodbye and saying hello to your dream home, right?  Not so fast. Certainly, owning your own home has its benefits. But, is the dream of homeownership really one you should pursue?  It all depends on your circumstance and needs.

Buying a home is such a large investment, possibly the largest purchase you’ll make. So, careful deliberation should be made when deciding which is better for you: rent or buy.

The advantages to being a renter is that your monthly costs are fixed. There’s little to no responsibility for maintenance of the property. And, it’s easier to pick up and move to another location. However, the disadvantages are your rent typically increases each year and there is no guarantee that your lease will be renewed. In addition, you don’t earn any equity nor will you reap the tax advantages of owning.

As a homeowner, you have the benefit of security and stability, as well as the freedom to decorate and remodel. Your property also builds equity and you get the tax benefit. However, when the central heating unit breaks or the roof needs replacing, the repairs are your financial responsibility. And, there is always the possibility of losing on your investment if property values go down.

One tool you can use in your analysis is a Rent -vs- Buy calculator that you can find on Web sites such Prudential.com. These calculators allow you to compare the costs of renting and buying. In some cases the amount you spend in rent may be about the same or less than you would pay on a mortgage. However, the tax benefit from owning the home may provide significant savings.

You also need to decide if can you really afford homeownership.  If you are on a tight budget it may not be wise to have the added pressure of maintenance costs, property taxes, and insurance. If your credit rating is in need of repair, or you have a high debt to earnings ratio, now may not be the time to purchase a home. Although you may find a lender, your loan may be at a much higher interest rate using a sub-prime lender. You might be better off taking another year to build your credit score and decrease your debt.

Besides costs, another factor to consider is how long you plan to reside in the home. When you purchase a home, there is a substantial initial investment including the down payment, closing costs, and renovations. It typically takes between five and seven years to recover your initial costs. And depending on your loan payments, it may take a few years before you begin to see a return on your investment.

Your lifestyle also makes a difference for whether you should rent or buy. Will you be able to afford the type of property you want and continue to enjoy the lifestyle you have? Are you starting or changing careers or perhaps you are in a job that requires you to move frequently?

Although homeownership has its benefits, make sure it’s the right fit for you depending on your financial and personal situations.

Raising Funds

How Does the Escrow Process Work?

How Does the Escrow Process Work?

By Shelby Hansen

One of the stages of the home buying process is escrow. This process begins when the offer is accepted and ends once the financing is approved and the buyer and seller have fulfilled their requirements. So how does it work?

A neutral third party agent of the principals—buyer, seller, lender and borrower—is designated the escrow holder. This agent assists with the transfer of ownership by ensuring that the terms of the transaction are completed including safeguarding all funds (including the buyer’s deposit) and documents.

The escrow holder keeps track of obligations of the seller or buyer. For example, if the seller is required to supply a termite inspection, the escrow holder will make sure it is fulfilled before any funds are transferred to the seller. Findings in the termite inspection report must be corrected on or before the close of escrow.

In addition, the escrow holder receives from the title company a complete ownership history of the property and any liens on record in the preliminary title report. Any discrepancies that affect the condition of the title, such as condo liens, judgments, etc., against the buyer and seller, must be addressed prior to close of escrow.

The escrow process can last any number of days depending on what is agreed upon between the buyer and the seller. To assure a timely closing, it is important that each party provide the escrow holder requested information as soon as possible. For example, a lender will not fund a new home without a homeowner’s insurance policy. Without the lender’s verification that there is insurance, the escrow process may be delayed. An unsecured source of funding, such as a personal check can also delay the process, because it takes longer for those types of funds to clear.

The escrow process is just one step towards fulfilling the dream of homeownership. Your real estate professional can provide more detail on the escrow process, as well as answer other questions you may have about home buying and selling.

Http://www.shelbysells.us 

Selling Your Home in Today’s Market

Jacksonville Real Estate

Jacksonville Real Estate

It's not hard to understand why homebuyers are looking at the Jacksonville Real Estate market. The climate, recreation, and job growth in North East Florida is hard to beat. Homes for sale in Jacksonville are very popular with buyers from around the country. Although it may seem like it's been forever since the Super Bowl was in Jacksonville, the city has not stopped building new homes since the big game. All of these factors continue to draw people and businesses to relocate to Jacksonville, making for a solid real estate market.

New Homes in Jacksonville

The abundance of land on the Southside of Jacksonville and on the Westside of Jacksonville has led developers to create some very desirable new neighborhoods. Along the J. Turner Butler corridor toward the beaches on the Southside, there is a large selection of homes for sale. The more popular neighborhoods on the Southside include Jacksonville Golf and Country Club, Deercreek Country Club, Deerwood Country Club, Hampton Glen, East Hampton, Hampton Park, Reedy Branch, Old Mill Branch, Pablo Bay, The Woods, and Timberlin Parc to name a few.

On the westside, Jacksonville's southern roots sometimes become a little more apparent. The development of the westside of Jacksonvlle, took off when the Cecil airfield base closed. Oakleaf Plantation is a DRI (development of regional impact) that has had tremendous sales. In fact, I get more buyers everyday asking about homes for sale in Oakleaf. Two other areas that buyers look at are Argyle Forest and Eagle Landing. Just email me what size home you need, and I'll get you set up on a property watch campaign where every time a new home comes on tha market you get the information emailed to you first.

Schools and Buying A Jacksonville Home

Parents often struggle to find a home in a neighborhood with quality schools without having to settle for less of a home. That is the time to be using a Jacksonville real estate agent (like me!) . I search everyday for homes for sale for my clients. Chances are I just did a search recently for another client for homes in your price range. To help out my buyers I had this custom tool made for my website, it's a map of schools and the FCAT scores for schools in northeast Florida. Just choose Duval for Jacksonville, St Johns County for Ponte Vedra Beach, and Clay for the Oakleaf and the Orange Park area. Drop me email with the area you are interested in searching and I'll email the best homes in your area by the schools you found.

Luxury Homes, Golf Courses, and Country Clubs in Jacksonville

The luxury home market has many options for upscale home buyers from privately gated estate homes on the St Johns River to modern executive style houses on the golf courses. Some of the most expensive homes in Jacksonville are located on the banks of the St Johns River. The views across the river from these homes is magnificent. Of course you have lots of choices of country clubs in Jacksonville, my favorites include Queens Harbour, Glen Kernan, and Epping Forest. Living at beach is another option, Ponte Vedra Beach and Jacksonville Beach have miles of pristine, quiet beaches on the Atlantic ocean. Another option my luxury buyers also look at is the Jacksonville Luxury Condo market. The luxury condominium market in Jacksonville now has some special properties for sale.

Relocation To Jacksonville

Relocations are always tough. But relocating to Jacksonville will be easy when you choose the right REALTOR! There are so many choices and styles of homes in everyone's price range, you have plenty of homes to preview. In fact, relocation probably the most important time to have a real estate agent that really knows the market working for you.

Traditional Homes in Jacksonville

The historical neighborhoods of Jacksonville like San Marco, Avondale, Riverside, Springfield, and Ortega are undergoing a revitalization. Many of the century old homes in these neighborhoods feature distinctive architecture and style. Thanks to renewed interest and government incentives, homes in these neighborhoods are being restored to their original splendor.

Making sense for first time home buyers

REPOST from my Website...  

Just a thought...
Buying a Home is a Good Idea

The Best Investment
As a fairly general rule, homes appreciate about three or five percent a year. Some years will be more, some less. The figure will vary from neighborhood to neighborhood, and region to region.
Five percent may not seem like that much at first. Stocks (at times) appreciate much more, and you could easily earn over the same return with a very safe investment in treasury bills or bonds. But take a second look…
Presumably, if you bought a $200,000 house, you did not pay cash for the home. You got a mortgage, too. Suppose you put as much as twenty percent down – that would be an investment of $40,000.
At an appreciation rate of 5% annually, a $200,000 home would increase in value $10,000 during the first year. That means you earned $10,000 with an investment of $40,000. Your annual "return on investment" would be a whopping twenty-five percent.
Of course, you are making mortgage payments and paying property taxes, along with a couple of other costs. However, since the interest on your mortgage and your property taxes are both tax deductible, the government is essentially subsidizing your home purchase.
Your rate of return when buying a home is higher than most any other investment you could make.

Income Tax Savings.
Because of income tax deductions, the government is subsidizing your purchase of a home. All of the interest and property taxes you pay in a given year can be deducted from your gross income to reduce your taxable income.
For example, assume your initial loan balance is $150,000 with an interest rate of eight percent. During the first year you would pay $9969.27 in interest. If your first payment is January 1st, your taxable income would be almost $10,000 less – due to the IRS interest rate deduction.
Property taxes are deductible, too. Whatever property taxes you pay in a given year may also be deducted from your gross income, lowering your tax obligation.

Stable Monthly Housing Costs
When you rent a place to live, you can certainly expect your rent to increase each year – or even more often. If you get a fixed rate mortgage when you buy a home, you have the same monthly payment amount for thirty years. Even if you get an adjustable rate mortgage, your payment will stay within a certain range for the entire life of the mortgage – and interest rates aren’t as volatile now as they were in the late seventies and early eighties.
Imagine how much rent might be ten, fifteen, or even thirty years from now? Which makes more sense?