Real Estate - Jennifer DeVinney

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5 People You Need In Your Homeowner Network

So you’re finally a homeowner – congratulations! This is an important step in anyone’s life, and it’s absolutely normal to feel somewhat (or wildly) unprepared for the realities of owning a place of your own. What if there’s an emergency, or what if something breaks? Do you know what to do? Here’s the good news: Like so many things in life, it’s not what you know; it’s who you know. Some homeowners take years to get all of these names and numbers in their mental address books or their smartphones, but if you start trying to find these essential people in your homeowners’ network early, then you’ll have an easier time handling any problems. 1. An insurance agent If you have a mortgage loan on your home, then you’re going to need homeowners’ insurance, which protects the asset being backed — otherwise known as “your house” — from risk. And to get the best deals on insurance and make sure you’re fully covered for everything that needs to be addressed, you’ll probably need to talk to an insurance agent about your options. Most home insurance policies cover things like fire, for example, but they don’t automatically include coverage for other adverse events like a flood or an earthquake. Do you really need earthquake insurance? Well, your insurance agent can tell you! You may also be eligible for discounts on other insurance policies when you become a homeowner, like your car insurance. In addition, you may want to increase your coverage for policies like car insurance; now that you’re a homeowner, you have a big asset that could become part of a claim if you get into a bad car accident, you’re at fault, and your insurance doesn’t fully cover the other party’s damages or injuries. A good insurance agent can make sure you’re covered from all angles so that you can get on with the business of living your life. 2. A cleaner Maybe you’re the type who really likes to clean — you find it relaxing or rewarding. Even so, you’ll still want to think about finding a cleaner who’s worth the cost in case you’re ever in a bind, such as if a health issue prevents you from cleaning and the mess is driving you bananas, or if you’ve got to leave town for an extended period of time and are thinking about turning your house into a vacation rental while you’re away. “Worth the cost” can be a relative term! Try to find someone who has references so you can get a good idea of how thorough their cleaning is and how flexible they are with times. A really detail-oriented cleaner might charge more and have fewer time slots available every week or month, but like anything else, you get what you pay for, and it’s probably better to find someone who really knows how to deep clean instead of hiring a relatively cheap cleaner who isn’t actually going to evict all the dust bunnies. 3. A general contractor As a homeowner, there are always going to be little things that need attention here and there, possibly as soon as you move in. Chipped crown molding, holes in walls, broken windows, or doors that creak — whatever your issue, living with it might be fine for as long as you can stand it, but at some point, you’ll want your house to look as nice as it possibly can, even if that only happens right before you get ready to sell it. Maybe you want to do some renovations or even add a room, a shed, a garage, a deck … if that’s the case, it’s even more important to find a reliable general contractor. A reliable general contractor is one that shows up on time and who can accurately quote a project so that you can budget for it. Reliable contractors can explain timelines, the cost of different materials, offer options, and get the job done on time (or within a reasonable window). 4. A roofer Depending on the type of shingles on your roof, you may not need to get them replaced at all while you live in the house, but you can bet that any buyers are going to ask when the roof was last replaced. Composition shingles usually last more than a decade but less than 20 years, wood shingles last somewhere between 20 and 25 years, and asphalt shingles can last anywhere from 15 to 30 years. If you’re not sure how much longer your roof has, then talking to a roofer and making any necessary repairs before they’re needed — so a leaking roof doesn’t damage your house — is a good move. 5. A real estate agent Of course, you aren’t ready to sell your house as soon as you move in — but keeping in touch with a local real estate agent is still a good plan. Your agent is often the first to know not only who’s buying (and moving in) and who’s selling (and moving out), but also whether there are any new developments planned nearby, where the best restaurants and home improvement stores are located, if there’s a new hiking or biking trail planned, and much more. When you are ready to sell, your real estate agent can help you decide what needs to be changed or fixed to make your home one of the most enticing in the neighborhood, can give you a good idea of when would be the best time of year to put your house on the market, how to price the place, and hold your hand from beginning to end. That’ll be easier to do if you’ve maintained a relationship with the same agent over time instead of scrambling to find one only when you’re trying to sell. Plus, like your neighbors, a real estate agent can often help you fill in any gaps that are missing in your own personal homeowner network of helpers.
How To Market A Luxury Home

When you’re selling a luxury property, the usual rules about how to market a home tend to go out the window. For starters, not all sellers want the universe to know that their home is going on the market, so you might not have the option of advertising the home on a real estate portal or even listing it on the multiple listing service (MLS). And depending on whether or not the seller (or the home) is noteworthy locally or nationally, there could also be quite a few “interested buyers” who don’t have the means to purchase a home but who still want to come inside and look around. But that doesn’t mean that marketing a luxury home is impossible — far from it! There are specific tactics and strategies that wouldn’t make sense for another type of property but that are perfect for luxury homes, and you can use some or all of them to secure a qualified buyer without compromising privacy. Keep it in your pocket When a home is for sale but it’s not listed on the multiple listing service (MLS), it’s known as a “pocket listing.” There are many reasons why a seller might want to leverage a pocket listing instead of using the reach and network of the MLS, and privacy is usually at the top of the list. If the address or the person who lives there is relatively well-known, then it probably won’t be too long before the media or a fan picks up on the home for sale and turns it into a story.That can be a tactic that works to your advantage, of course, but you might want to save the step of listing on the MLS until after you’ve used the local luxury network to shop the home (and you have not received any viable offers). The local community can be your best asset in the home sales process. If you tell your friends, colleagues, and members of any clubs or organizations where you’re a regular attendee that you’re putting your home up for sale, the likelihood of you finding a qualified buyer is heightened — and your acquaintances can tell anyone they know about the fact that your home is for sale. You might not be telling every buyer in the market that you’re putting a house on the market, but you’ll certainly be reaching a large portion of people who are financially qualified to take on that investment … and possibly interested in buying it. If you think you could stand to expand that network, host a party. There’s no better way to show off your home than when it’s packed with admirers. The luxury world is a stage Even the best-maintained luxury home looks more lived-in than magazine-ready most of the time, so before you showcase yours, it’s smart to take care of any cosmetic issues that might have been lingering and possibly even consider moving yourself and your things to a different location so that it can be staged and presented at its very best. That might be an extreme idea in your opinion, and there’s a lot you can do to make your home shine short of moving out and leaving it to professionals. Start with the basic curb appeal Is your lawn manicured and maintained, and is your landscaping polished? Do you need more gravel or flowers anywhere? Do your trees and shrubs — and grass blades — look healthy? Inside, get the place deep-cleaned to within an inch of its life. Steam the carpets and polish the wood floors. Then look at the balance of furniture in the room — is it arranged to showcase the place at its best, or for human convenience? You might want to remove a piece of furniture or two for every room so that you have plenty of space around each item. Allow for smooth and uninterrupted traffic flow through each room. Some experts recommend leaving space (including between furniture and walls) around each piece of furniture. Examine your decor with a critical eye, too. It might not be enough to remove those family photos from the guest rooms — you may also want to think twice about showcasing any artwork or decorations that are tailored to specific tastes. The idea is to invite visitors to imagine themselves living in the home, and some people might not be able to do that around certain images, so if your own preferences tend toward the risque or out-there, think about going a little more moderate while you prepare to sell. Build your (visual) asset bank If your home doesn’t sell as a pocket listing and you do decide to put it on the MLS, then you’ll need some high-quality images to help entice a qualified buyer to your doorstep. The people who can afford to buy your home won’t want to waste time visiting a property that doesn’t meet whatever standards they’ve set themselves, and in this era of digital opportunity, it’s a huge mistake to ignore images when you’re trying to sell a luxury property. It’s not enough to “just” have pictures, either. You want the lighting, staging, and finish that comes with a professional photographer and all of the accompanying cameras, lights, and other tools. And if you really want to make a splash, you’ll need to go a step further and think about creating a video that really showcases what makes your property shine. Tell a story about the special features A luxury home wouldn’t be a luxury home without sweeping people away somehow. Whether that’s an architect who’s a household name, finishes fit for royalty, or a view that leaves you breathless, you need to know what makes your home fit for the “luxury” label and how you can convey its attraction to people who have never seen it. Pick the thing or couple of things that always elicit a comment from the people who visit your house. You probably know them if you begin to think about them — the beautifully landscaped pool area, perhaps, or the industrially equipped kitchen, or the horse stables, or the view from the master bedroom. Then make sure you make those features a central focus of your property marketing. Help potential buyers feel what it’s like to wake up and look out those windows, or take a dip in that pool after dark. Luxury is a feeling, and if you can spark that feeling in the people who are searching for a place to live, you’ll be working toward a sale in no time. Pricing and incentives It can be difficult to price a luxury home to sell because they are usually much rarer than entry-level or mid-level homes, and therefore they don’t exchange hands quite as frequently. That makes it tough to pull comparable sales when you’re wondering how much your home might fetch on this market. Talking to a real estate professional who specializes in luxury sales is essential when you’re trying to nail down the right price for your home. If you overprice it, it will linger on the market for much longer than it should while you consider reducing the price or pulling it off the market — agonizing for any seller. And it’s equally bad to price it so low that you’re leaving money on the closing table when the time comes to walk away. Don’t use the l-word Most buyers in the market for a luxury home aren’t going to Google “luxury homes for sale in my area.” They look for clues that indicate a property is high-end without saying it outright: “gated community,” “estate,” “extravagant,” “opulent,” or “grand,” for example. They might also look for clues in a listing, like whether it’s a waterfront property or the price per square foot. A real estate professional can walk you through the different cues and clues that qualified buyers in your area are going to be using and help make sure that your marketing materials and listing is peppered with them.
7 Tips For Buying A New Home

Buying a house - whether it’s your first or fifth - can be a bumpy process. Between the financing, the availability (or scarcity) of homes on the market in your price range that meet your needs, the offer process, the appraisal and the inspection, there’s a lot that can go wrong between deciding that you are in the market for a new home and turning the keys for the first time in your new front door. But there’s a lot that buyers can do to make the process smoother. Here are ten tips. 1. Check your own credit If you’re like most Americans, you’ll need a mortgage loan in order to purchase a house. The amount of money that a lender is willing to loan you will depend on several factors, including: Your current income The amount of down payment that you’re bringing to the table Your credit You might or might not have a lot of influence over your current income, and you might or might not have wiggle room to save up for a down payment, but one thing that you can almost always work on is your credit. Get copies of your credit report to ensure that everything on it is accurate; fix any errors, and consider talking to a credit expert who can tell you which payments to prioritize and how to improve your score. 2. Research sales price in your area While you’re considering exactly what kind of home you want yet (and we’ll get to that), you’ll also want to think about how much that home might cost. This would be a good time to talk to an expert, like a real estate agent, about the sales prices in the area. An agent can show you current active listings and is also a good resource to tap when you have other financial questions about homeowners’ insurance or other costs of homeownership, like common maintenance costs in the area. 3. Nail down the down payment While you’re considering exactly what kind of home you want yet (and we’ll get to that), you’ll also want to think about how much that home might cost. This would be a good time to talk to an expert, like a real estate agent, about the sales prices in the area. An agent can show you current active listings and is also a good resource to tap when you have other financial questions about homeowners’ insurance or other costs of homeownership, like common maintenance costs in the area. 4. Consider all the costs There’s more than PMI to think about when it comes to a mortgage loan - you will also be paying: Property taxes Homeowners’ insurance premiums on the house Flood insurance, and often supplementary earthquake policies are worth considering (depending on the location) You will likely need to pay closing costs, and you probably have furniture and items to move, so you’ll have to cover those expenses. And then there’s the wear and tear on the home and the cost to repair it, and the costs of utilities from month to month; a good local real estate agent can help you figure out what to expect. 5. Get to know your dealbreakers Almost as important as knowing what you want in a home is knowing what you definitely don’t want. But don’t confuse a “dislike” with a true and genuine dealbreaker - a feature of the home that you can’t realistically fix. If you haven’t tapped into the expertise of a real estate agent yet, now would be the time. An agent can help you understand what’s fixable and what’s not in the house you’re just not sure is a good fit. 6. Search accordingly One tool that real estate agents have that the general public doesn’t is access to the local multiple listing service (MLS), where homes are actually listed for sale. Once you understand your must-haves and your dealbreakers, your agent can set up a personalized alert anytime a home that meets your exact criteria is listed on the market. 7. Think competitive but reasonable You probably want to avoid a bidding war (not great for your wallet!), so you’ll want to make an offer that the seller will consider competitive. At the same time, you don’t want to pay more when the seller would accept less; an experienced real estate agent can help you navigate the field of exactly what to pay and come up with an amount that’s a good deal for you and priced high enough to capture the seller’s attention. Don’t forget that there are other concessions you can make to sweeten the deal beyond sales price - like giving the seller control over the closing timeline or offering to split the price of any necessary repairs discovered in the inspection. Your agent can walk you through popular options here, too.
How To Choose The Right Suburban Neighborhood

Buying a home anywhere feels like a huge step, but getting settled in the suburbs can seem especially momentous for any household. After all, traditionally, suburbs were for establishing a place in the community and raising a family, where you can put down roots and grow a life. Where you might plan to stay in your city home for just three to five years, a home in the suburbs could be the place where you retire. So it pays to do some research on the suburb and neighborhood where you want to plant those roots. There’s a lot you can do to an individual house to help it fit your lifestyle, but if the neighborhood isn’t a good fit, remodeling it isn’t quite as simple. How do you make sure that the neighborhood where you’re about to buy is a place to sink your roots? By conducting your research, talking to experts, crunching the numbers, and narrowing down your options until you have an option that sounds like home. Know yourself It’s not wrong to choose a home based on life aspirations or goals that you hope to achieve one day. But unfortunately, humans have a tendency to imagine themselves reveling in situations that, realistically, they wouldn’t actually enjoy. If you know that watching the local baseball team is one of your great pleasures in life while football leaves you more or less cold, then don’t expect yourself to develop a sudden love for football just because you found a home that offers an easy commute to the field, for example. Draw up a fantasy list of everything that you want in a suburb — but with a dose of realism in the sense that you’re only including features and amenities that you really want, not things that you think you should want. Every suburb is going to have perks and deficits, and it’s up to you to decide now what your ideal place to live is like and then see how close you can get. Get schooled Even if your kids are in high school and you won’t be looking at elementary or middle schools at all, it’s a big mistake to ignore the schools in your suburb of choice. School quality is tied to home prices, whether you like it or not, and you don’t want to eliminate families with younger (or older) kids from the pool of households who might be interested in buying your place when you eventually move on. You can find general school ratings online, but bear in mind that some providers might not give you the granular information you need — like the individual ratings for elementary, middle, and high schools, and background context that shows how the schools in your area measure against the rest of the metro area. The more information you have, the better-educated you’ll be when the time comes to make an offer on a home, and that never hurts. Commerce and traffic Even if you used to live in the area (or currently do), don’t assume that you know everything there is to know when it comes to the traffic that flows through and the businesses that place their stakes. You never know which suburbs are going to get the benefit of future public transportation infrastructure, or which businesses might be moving into which parts of the metro. Start with the appropriate government and Chamber of Commerce entities for the suburb. Ask whether you can obtain a list of current business establishments in the neighborhood, and ask about planned developments and traffic projects. Ask about city facilities in the works, too, like rec centers, theaters, parks, or other public amenities. Not only will this give you a heads-up to any major construction that could be surrounding you in the near future, but it can also serve as a red flag; suburbs that have a lot of empty storefronts and few businesses opening can signal areas where values might not be rising as quickly as the surrounding metro. Ask about the population and how many people have moved into and away from the suburb. You’ll get a sense of whether those congested roads to and from work are going to get better or worse, and you won’t be surprised when your commute changes accordingly. You’ll also want to look at how the suburb’s public transportation network hooks up with the larger metro’s and how easy it is to get to the places you already know you like to visit. Worst-case scenarios Just like school ratings, there are a number of platforms that offer crime ratings for different suburbs — and that’s a good thing to know when you’re about to buy a home. “Oftentimes, those ratings are based on crime reports rather than filed charges or convictions secured, so the crime ratings platforms don’t always tell the full story. It’s not a bad idea to check with any friends who live in the area or a real estate professional to get deeper insights into how safe a suburb and its surrounding county (or counties) might be. Nobody wants to think about being rushed to the hospital, but you might want to think about it before you buy a home, especially in the suburbs, where a hospital could be fifteen or twenty minutes away, and a good hospital even further. Think about a couple of things when searching for a house: What’s the local average emergency response time? Which hospital would be the go-to if you had to call for emergency services? Is there an urgent care center that’s closer? What are its hours? Those are good questions to be able to answer before you decide that a suburb is for you, especially if you or someone in your household has a health issue that requires specific care.
6 Home Renovation Mistakes To Avoid

One of the very best things about owning your own home is that you can change it to fit yourself and your lifestyle. Home renovations are more popular than ever before, and there are countless shows, blogs, magazines and other resources where you can indulge your dreams of a perfect home – if you’re willing to jump into renovating. But a home renovation project isn’t a journey for the faint of heart. It’s expensive and time-consuming, and there’s a lot that can go wrong before the finished product is, well, finished. To ensure that your home renovation process goes as smoothly as possible, make sure you don’t make any of the following home renovation mistakes. 1. Forgetting about permits This might not be something you realize you forgot about until it’s time to sell the house — which is basically the worst possible time to discover that your house needs a permit for something and doesn’t have one. So when you’re sure of what form and shape you want your home renovation to take, do yourself a favor and head to the permitting department at your city or county office and ask them what you’ll need. In general, you probably don’t need a permit to do things like paint walls, replace cabinetry, repaving your driveway or other minor updates. But if you’re going to be changing a room’s purpose or knocking down a wall, then you definitely want to check on the permits that should be filed to make a change like that. 2. Creating an unrealistic budget After watching a few different tanned and glossy couples complete a specific renovation for a certain amount of money, you might feel perfectly comfortable deciding that you can designate that certain amount of money for that specific renovation, too. But like your timeline, your budget needs a little bit of room to stretch. Between material upgrades, hiring extra labor, emergencies or any other budget-breakers, at some point during the renovation, you’ll be glad you built in some budgetary breathing room. 3. Buying the cheapest materials It’s really tempting to try to discount your way through a home renovation. And one of the easiest ways to do that is by choosing the cheapest materials — but resist! The adage “you get what you pay for” is as true for home renovation materials as anywhere else, and if you’re buying flooring, windows or doors that you’ll have to replace in five years instead of twenty, then you’re not actually saving yourself any money because you’re going to have to do this all again sooner rather than later. Talk to your contractor (or contractors) about the options open to you, and make sure you understand what sacrifices you might be making in quality or longevity for price. 4. Skipping prep work If you’ve ever painted a room, then you already understand how critical prep work can be. It’s a lot easier to thoroughly tape off the area you’re going to paint, right? Well, that truism holds for home renovation in general, so make sure you’re doing yourself favors by smoothing the road for yourself. Cover furniture with drop cloths, for example, or make sure that you’ve got a food prep area set up outside the kitchen that you can use while it’s having work done. The small steps you take to protect your belongings and make necessities more accessible will be well worth the time they take in the long run. 5. Taking inaccurate measurements If there’s one home renovation mistake that you should try to avoid at all costs, no matter what, this is it. “Measure twice, cut once,” is sound advice, but when it comes to your money and your house, what’s the harm in measuring ten times before you cut? Imagine realizing that your new cabinets don’t leave enough room for your fridge, for example, or that you didn’t order enough flooring, or that the bookshelves you’re installing are too tall for the office. All of those catastrophes can be avoided if you measure carefully and accurately, so whatever you do, don’t breeze through this step. 6. Failing to anticipate a mess A home renovation is usually a big, messy project. There’s likely to be dust everywhere at the very least, and some of your rooms might not be usable while the renovation is taking place. That’s not always a big deal in the case of a closet or bedroom, but when you’re redoing a bathroom or kitchen, then renovating a house where you currently live can get quite a bit trickier. Be prepared for a big mess, and think especially hard about how it will affect you if you’re living in the house while it’s being renovated. Use plastic sheeting and drop cloths to keep as much of the mess as you can at bay, and realize that any clothes you’re wearing into the construction zone might need a lot of wash cycles before they return to normal, so dress accordingly. If you can avoid these mistakes, your renovation will undoubtedly make your house shine. Good luck!
How To Manage Stress When Dealing With Home Financing

One excellent way to improve your financial profile is to buy a home of your own. But we won’t lie: It’s a long and potentially incredibly stressful process, especially when it comes to the dollars and cents of securing a mortgage loan. So how do you navigate the stress of the journey in order to reach Destination Homeowner? There’s a lot that’s within your control to help ease some of that stress and make the whole thing a little bit easier. If you take a few steps upfront to manage the financial details early, you’ll thank yourself on moving day. Get pre-approved for a mortgage Getting your mortgage loan is arguably the most labor-intensive aspect of buying a home. You’ll have to submit documents that show your: income and expenses tax returns bank statements paystubs A mortgage pre-approval is much more involved than its lighter cousin, the mortgage pre-qualification.A pre-approval will help you understand exactly how your new home will fit into your finances and whether you can even afford the house you’re currently touring. Some buyers make the mistake of getting pre-qualified for a mortgage, making an offer on a house they love – and then discovering once they submit all their paperwork that they can’t actually get a loan for that amount. Pick the best mortgage for your situation All mortgages will help you buy a home, but not all mortgages are created equal when it comes to your own personal financial profile. If you know you’re only going to be in your current city for two or three more years before pursuing a career change elsewhere, for example, then maybe a 30-year fixed-rate mortgage is the wrong choice for you. You could build more equity in a shorter period of time with a 15-year mortgage, and an adjustable-rate mortgage might give you a more competitive rate for the time you’ll be in the home. Conversely, if you are planning on digging in and staying for a while, then a 30-year fixed-rate mortgage might be exactly what you need. Save as much as you can Even if you’re securing a low-down-payment or no-down-payment mortgage, you should still expect some out-of-pocket costs that you’ll have to shoulder before you can start paying a mortgage instead of rent.Depending on the sales contract, buyers will likely have to pay for the appraiser and the inspector to look at the house and (respectively) appraise and inspect it. A seller might request earnest money in order to accept an offer, so buyers will have to provide that. Necessary repairs to the house might be taken on by the buyer in order to expedite the sale, so that’s another possible expense to consider. There are closing costs that need to be paid to the title company upon closing, and if a buyer wants to purchase title insurance to protect the sale, that’s an additional expense, too. And don’t forget about the cost of moving – you’ll need time off work and a truck at minimum, or to hire your own movers. Then once you move in, you might need to pick up some new furniture or other items for your new space. Research before you bid If you’ve found a home that could be yours and you’re ready to make a bid, stop and think before you decide on a number. Offering the seller’s asking price may seem a perfectly safe move to make (and it might be), but how will you feel when you learn that most sellers in the area are negotiating down from their listing price? (Here’s how you’ll feel: Like you left several thousand perfectly good dollars on the table that could have been yours). Offering less than asking price could also be considered a safe move in some markets, but in others, you might have priced yourself out of consideration from the opening bid. A good real estate agent can explain your local market trends and help you come up with a bid that works with your budget and will be seen as serious and competitive by the seller. Agents can show you whether houses in the area have been selling for below or above the asking price and can help you find that sweet spot where both you and the seller are happy with the deal.
4 Tips For Assessing Your Home’s Value

As a homeowner, it's perfectly natural to wonder how much your house is currently worth (and, not so incidentally, how much money you might make today if you were to sell it). Even though the internet has brought information about home values directly to our fingertips, not all of it is reliable -- that's one big reason why appraisers are still in business, charging hundreds of dollars for an accurate valuation. The truth is that sometimes even appraisers get it wrong. Your house is worth whatever a buyer in your market is willing to pay for it, and that's usually not evident until you put it on the market and start considering offers. All that said, there are still ways you can assess your home's value without actually putting it on the market. Here are nine things to consider when you're trying to figure out how much your house is worth. 1. Look at your property tax bill Your property tax bill isn't an exact estimate of your home's value, but it's a good jumping-off point. Homes are assessed for property taxes at different times, depending on which state, county, or city you live in. In most states, homes are assessed for taxes every five to seven years; depending on how recently your own home was assessed, you may be able to use the assessment as a starting point for figuring out how much your house is worth. That said, beware of considering an assessment of the final word on your property's value. Typically, an assessment is done by taking the assessment rate of your locale, looking at the appraised value of your house, and multiplying the assessment rate by your home's appraised value. If the last time your house was appraised was when you bought it -- and that was decades ago -- then the assessment of your home could be significantly higher or lower than its actual fair-market value. (But you won't know that unless you call in a professional appraiser and ask their opinion.) 2. Examine homes that have sold recently in your neighborhood To pinpoint a home's value, most professionals use "comps" -- this is just a term for homes that are comparable to yours that have sold recently, preferably within the past three months, but possibly as long as six months ago, depending on how many homes are for sale in your area and how easy it is to find comparable homes. At least three comps should be identified and used to find your home's value, but you can use as many comps as you like; five or six might generate a number that more accurately reflects your home's fair-market value. What makes a house comparable to yours? It really depends on what comps are available in your area. They should definitely be as close to your house physically as possible, and preferably should "look" a lot like your house in terms of the number of bedrooms, bathrooms, square footage, and total lot size. Preferably, the comps will also align in details like the number of parking spaces and even the material used to build the house. To find some comps yourself, look up homes that have recently sold in your area or neighborhood. Try to be as honest as possible with yourself; you're not going to get a reliable valuation if you're only looking at luxury homes and your house is not also a luxury home, or if you're only considering mid-level houses and yours is a starter home. The recently sold homes should be as, well, comparable to your house as possible for this to be a valuable exercise. 3. Consider inventory In some markets where there just aren't very many homes for sale, it might not even matter that much if your house is comparable to others that have recently sold. “The San Francisco Bay Area is a good example of a market where there isn't a lot of available inventory (a fancy term for "homes for sale") and therefore even tear-down homes can capture seven-figure sales prices - buyers are just that desperate to get their foot on the housing ladder, and they're willing to pay whatever it takes. Those markets are few and far between, but it's still a smart idea to look at how many homes are for sale in terms of total inventory and then use that information to determine how much your own house might be worth. In areas where there are a lot of homes for sale, you might not be able to capture a price at the very top of your price range -- but in areas where there are very few homes for sale, it's likely that you'll be able to get a lot closer to top dollar for your own house. 4. Use an online tool Although online tools for calculating your home's value are everywhere, they aren't always accurate. Many of them use the same process as a human would to assess value -- namely, comps -- and a robot or algorithm isn't always as good at picking the best comparable homes as a human would be. (This is why valuation tools like Zillow's Zestimate usually don't capture the actual sales price of a house.) A robot or algorithm hasn't actually seen your house; they haven't walked through it to determine whether the flooring, finishes, appliances, and other details are above the market average or below market average, so it's really not possible for them to give you a totally accurate value for your house. It's a lot easier to get an accurate online valuation for a cookie-cutter house in a recent development with lots of current sales than it is for a one-of-a-kind property. Nonetheless, if you want a quick answer, sometimes an online tool is the fastest way to get at least a ballpark range. There's a very simple one at the Federal Housing Finance Administration, which looks at when you bought your house, how much you paid for it then, and then tells you what it's likely to be worth today just based on the housing market: https://www.fhfa.gov/DataTools/Tools/Pages/HPI-Calculator.aspx. Zillow, Trulia, and realtor.com all have home valuation tools, too, and your local real estate brokerage might even have one available for you to play with.
7 Tips For Moving With Kids Or Pets

Moving is stressful all on its own, but when you add in the complications that kids or pets (or both) can bring to the mix, it can feel downright impossible. Depending on the age of your children and whether your fur baby is a cat or a dog, some moves can be easier than others, but any stress you’re feeling can manifest exponentially in your dependents. The good news is that with a little bit of foresight and a lot of planning, you can smooth the way for your kids, pets, or both to ensure the move is as low-stress for them as possible. And when your children (of any species) are happier, you’ll also feel some relief. Win-win! Before your move your household to a new residence, read these tips, then make your plan. 1. Consider the timing There really isn’t an “easy” time to move your household, but there are definitely some life events that make moving more difficult for everybody. If there’s been a death in the family or you’re getting a divorce, then both the children and the pets are likely to already be feeling some anxiety. Adding a move on top of that is generally not the best plan if it’s at all possible to avoid it. Delaying a move by six months to a year to give all the dependents in the household time to adjust might be completely impossible, which is understandable — life happens out of our control all the time. But think about whether you can offer your babies a respite from change for at least a few months so that you aren’t heaping change after change on kids or animals. 2. Research your new area When you tell your kids about the move, they’re going to have questions. Your pets may not have quite as many questions, but they’ll still want the assurance of some consistency, like the ability to go on a walk or the availability of their food. Here’s a couple of things you may research at the very beginning: Schools, parks, walking trails, pet stores, veterinarians, pediatricians, local restaurants and attractions, libraries, and more. Find some gems that you know will excite your kids when they hear about them, or your pets when they discover them, and be able to answer questions honestly. Older kids might want to help with research, and you should encourage them to dig into whatever they want to know about their new home, but it really helps to have a solid understanding of where you’re going before you break the news. 3. Talk to your kids about the move There are plenty of age-appropriate conversations you can have with your children when you’re getting ready to move in order to help them prepare emotionally for the change. (Unfortunately, this doesn’t work nearly so well with pets, but if you think that your animals understand you, feel free to give them a rundown, too!) Explain to your children why you have to move and talk to them about what it will mean. Depending on how old they are, their concerns will vary. Younger kids might have more questions about what will happen to their toys, while adolescents are likely to be more concerned about school and friends. This is a good time to share some of what you’ve learned about your new area, such as whether the local grocery store carries their favorite snacks, or what their new school will be like. You don’t want to overwhelm your kids, but help them get excited about the change by emphasizing some of the positive differences between here and there. 4. Emphasize similarity, too People (and animals) dread change because they’re afraid of the unknown. So while you’re having any moving discussions, make a point to talk about what isn’t going to change. If you’ve always hosted Thanksgiving, then tell your kids they’ll still be celebrating by cooking with you in the kitchen. Tell your sports fans that they’ll still be able to watch or play their favorites, or emphasize to your bookworm that the library is in the same district and access to all the same books is guaranteed. Pets won’t be as able to appreciate these discussions, but you can do them a favor by thinking about how you can work to emphasize similarity when they get to their new environment. Can you set up their favorite “room” exactly the way they know it right now? What can you do to acclimate them to some of the new sights and sounds and smells they’ll encounter during the move? 5. Make a moving day plan Moving day itself is going to be peak stressful for you, the pets, and the kids, so to remove some of that stress in advance, plan the heck out of the day itself. For kids, this may involve coming up with safe ways they can participate, or alternatively, planning to get them the heck out of the way while the move is actually taking place. If you have friends or grandparents who’ve offered to help watch the kids, take them up on it! For pets, a moving day plan may involve dropping them off at a pet hotel or doggie day care, or keeping their favorite room as intact as possible and locking them inside while everything gets moved out of the house. If you have the chance to acclimate them to the pet care facilities in advance, then this might be the least stressful for your fur babies. 6. Consider hiring movers Hiring movers can be like hiring someone to clean the house — perhaps you feel like packing and moving is something you should be able to do yourself. But also much like hiring someone to clean the house, the amount of stress that hiring a pro can alleviate is noteworthy and often well worth the expense. Professional packers and movers have turned the chaos of moving into a science. Their efficiency and expertise can save you days of your own life, and they can also allow you to make alternate plans for moving day itself. Maybe you can take the kids to an amusement park or the dog to the dog park while your partner supervises the move? 7. Secure your animals while the move is happening Two things you already know you don’t want to be doing on moving day: chasing your leashless, collarless dog through the neighborhood or coaxing your cat out from underneath the porch. If sending them to day care or having a trusted friend watch them isn’t an option, then make sure you’re prepared to keep your pets confined and contained while the move erupts around them. Secure them behind a door they can’t open and leave water, litter boxes, toys, and whatever else they might need for a few hours out and available for them. Make sure you have a loud, obnoxious sign that you can fasten on the door warning anyone who might open it that there are freaked-out pets behind it and asking them to leave it shut.
What Factors Can Keep Your House From Selling?

Selling your house can be an intensely emotional experience in any market, but it's particularly nerve-wracking when it seems like other homes are going under contract in a matter of days while your listing lingers. In that situation, sellers can't help but wonder if there might be something wrong with their place. Well, the unfortunate truth is that maybe there is something wrong. Usually, it's the listing price, but there are a ton of other things that are keeping your house on the market -- maybe it's the marketing strategy, or even the house itself. If your house just won't seem to move in a market that's otherwise red-hot, consider whether one of these factors could be stalling a sale. The pictures are amateur It's hard to under-emphasize the importance of listing photos. Most buyers start their home search online, and your listing photos are therefore the first impression that buyers will get of the property. When all the other homes for sale in your neighborhood have crisp, clean images that show the home to its best advantage, and your listing photos are off-center, unfocused and scream "I took all of these pictures in 10 minutes with my cell phone," then don't be surprised when buyers aren't all that interested in your place. Make sure that you're selecting only the photos that make your house shine, and if there aren't any, then you might need to reshoot. Talk to your agent and the listing photographer about shooting at a time of day when there's a lot of natural light and when the home is in pristine condition. You have too much stuff Minimalism might not be a big thing where you live, and that's perfectly fine -- while you're living there. But clutter is going to draw buyers' eyes away from the space of the room and their ability to fill it with their stuff, distracting them when you want them to be fully focused on their dream of homeownership. Garage sales, donation stations, and storage units can all be a viable solution for too much stuff, but you need to get it out of the spaces where buyers can see it. That means the closets, too -- buyers most definitely will open closets and drawers, and if all the clutter is hiding there, it doesn't leave a great impression. The price was based on an online calculator It's hard to find a homeowner who hasn't looked up their own house on a real estate portal like Zillow -- we're all curious, right? Well, even though that Zestimate price may have given you a warm fuzzy feeling, the truth is that it might not be all that accurate. Online calculators use public records data and sometimes MLS data to create their estimates, but if the data is patchy or there aren't a lot of comparable homes that have sold nearby, then the algorithm might end up pulling some numbers that just don't make any sense. Of course, this can mean an absolute steal for buyers if your automated valuation is below the home's actual value, and you could lose money on the sale. But on the flip side, if you trust that your home really is worth what the automated valuation says -- and you haven't asked an appraiser or a real estate agent what they think -- then that could be why no buyers are interested. The wrong agent is listing the home Like all of us, real estate agents have strengths and weaknesses. Some agents are great at selling condos but haven't sold any single-family homes, and that's just one of the many facets that makes up an agent's experience. It's completely understandable to go with the agent who helped you in your last sale, or a friend of a friend, but do ask any agents you interview about their experience in working with clients like you to sell houses like yours. If they don't have any, then you might be in for a long wait and several price cuts before your house moves. Showings aren't convenient for buyers One of the worst parts of selling a home is dealing with the showing process. It's a pain to keep your house spotless in case a showing gets booked, and then vacate the premises while strangers traipse through with an agent. Although sellers definitely deserve sympathy for how demanding showings can be, they're not exactly a picnic for buyers, either, who are usually trying to visit several houses in the few-hour timespan they've managed to clear out, typically on evenings and weekends when they don't have to work. If you aren't letting buyers come in and walk through on those evenings and weekends, and instead are dictating showing times that only fit your schedule, don't expect buyers to fit your home into theirs. If it's inconvenient, many qualified buyers who'd love your house will prefer to skip it. The listing description is flat or unrealistic Most buyers are going to look at the photos first and foremost, but many will also pay attention to the listing description. This is a chance to tell interested buyers what you love about the house, and they're going to be looking for information or nuance that they couldn't glean from the photos. For example, maybe the view from the master bathtub is your favorite in the house, or perhaps there's a greenhouse in the yard. Include details in the listing description that help the buyer round out what they know about the house from photos -- and steer away from generic descriptions if possible. Buyers see a lot of them, and they won't help your home stand out. You're too attached Sometimes it's the right time to sell a house -- and sometimes it doesn't matter how hot the market is: You're just not ready to let go yet. That's a very normal feeling to have, but it can also sabotage your home sale for obvious reasons. Consider whether your attachment to the home could be undermining you in other ways, like insisting that it's worth a certain price or demanding specific concessions from your buyers. If you think it might be, then you have to decide whether your need to sell the house outweighs your desire to stay there, and act accordingly.
Answers To Your Questions About Home Inspections

If you’re not familiar with home inspections, then you might have a lot of questions about what gets inspected, how thorough the inspectors are, why you even need one, and what you can expect if you’re walking with an inspector through the house you’re hoping to buy. There’s a lot to know about home inspection, and your questions deserve answers. Here they are! What is a home inspection? A home inspection is an event that is basically exactly what the name implies: A home inspector walks through the home, looking at specific elements and features of the house, and then provides a report about anything that needs to be repaired. Why would I want a home inspection? An inspection is a good idea anytime you want a full rundown on any issues or problems with your house. If you’re already living there, it’s a lot less necessary than if you’re buying the home — when you will most definitely want an inspector to check for any potential red flags. They’ll be your problem after closing, and big issues can sometimes affect the insurability of your house (which, in turn, affects your loan eligibility), so home inspections are most common after an offer is made on a house but before the closing finalizes the deal. What does the home inspector look at? There are six essential parts of an inspection that you can expect every inspector to hit. They are: the roof and attic, the basement and foundation, the plumbing, the electrical setup, the heating or air conditioning systems, the interior of the house, the exterior of the house. Depending on where you live and what common problems tend to manifest in the homes, you might also want to think about hiring a pest inspector, a sewer line inspector, or even ask about an engineering report to evaluate the home and plot’s structure and stability. And in areas where radon is prevalent, or where there’s a lot of humidity, you may also want to ask about radon or mold testing (some home inspectors do this as an add-on part of the package). How much does it cost? The price of the home inspection is going to depend on the size of the house. You can typically expect to spend around $300 on a home inspection, but smaller properties (less than 1,000 square feet) might cost only $200, whereas larger homes (more than 2,000 square feet) cost upwards of $400 to inspect. Ask an inspector or a real estate agent in your area what they usually cost to get a closer estimate. Do you need an inspector for a new house? It’s always a good idea to get a home inspection — even in a brand-new house. You don’t want to find out there’s a problem after you move in, and an inspection is the best way to figure that out. So follow the “trust, but verify” process with your builder: Trust that they did their very best to get your home in the best condition possible … then verify that they did just that with an official inspection. Should you attend the inspection? It’s usually a smart idea for the buyer to attend the inspection in case they have questions for the inspector or want to follow up on any notes the inspector makes. Many inspectors today use new technologies that allow them to include photos of any issues or potential problems, but there’s nothing like being there in person to better understand exactly what’s wrong and how to fix it. What happens if a problem is uncovered? If everything is not in good shape with the home you’re about to buy, there are options. Usually when this happens, the buyers and the sellers start negotiating again — this time, to figure out who’s going to pay for the necessary repairs. Buyers might be able to ask for some money to be knocked off the final sales price to accommodate for the problem, or sellers might decide to go ahead and fix it before closing. If everyone can come to an agreement that suits everybody, then the sale can move forward.
10 Things Everyone Should Know About Real Estate Investing

Real estate investing is gaining popularity, and if you’ve been giving it some thought, this guide will give you an overview. The goal of any real estate investor is typically to make money. This means purchasing an investment property at a good price so you can rent it out and maybe eventually sell it for a profit. Real estate investing is an ever-changing game. To get and stay ahead and make consistent money, you’ll need to do your homework. Here are 10 things to know: 1. Get Pre-Approved for a Mortgage When you get a mortgage pre-approval first, there are some benefits you can take advantage of, financial benefits being a big one. Once you’re pre-approved, most lenders will lock in an interest rate for you, so if rates go up while you’re conducting your property search, you’ll enjoy your lower, locked-in rate. When it comes to demonstrating your seriousness to a potential seller, having a pre-approved mortgage could get you preferential treatment since you already have financial backing. 2. Cash Flow Cash could be the defining feature of any investment property. If you’re projecting strong cash flow, you should be all set, but if your projection is negative, you might need to reallocate money from other areas such as: Your salary Other investments Savings 3. Keep Up With Local Pricing Trends Consider the area where you’re thinking of making your investment, and then study the home pricing in those areas. Investigate further to see if current prices are on the rise, then compare average homes in neighboring towns and cities to see if you can find savings. 4. Research the Local School Ratings Areas with quality schools are attractive to parents with school-aged children. Most states rank their schools based on how well the kids in each school district score on common tests like English and math. Check out the state’s board of education website to get started, and look for the schools at the top of the list, or those that are moving up the list. 5. Future Development Before you land on an area for your investment property, talk to people living in the neighborhoods you’re considering, as well as the local town hall to get information on planned and potential future development. Take a drive around town and see what kinds of construction are already underway. Even if the location you’re considering doesn’t have many amenities like banks and restaurants at the moment, it might in just a few years. Keep an eye out for new roads to accommodate future growth, hospitals, and shopping malls. If a prospective area is set to expand in a few years, you might be able to secure a property at a low price and be able to take advantage of higher rent and substantial appreciation in the future. On the other hand, look out for areas that are always congested with heavy traffic or have overfilled schools. 6. Tax Savings With Alternatives If you’re comparing two nearby towns, and one has lower property taxes, you might be able to take advantage of significant savings. Also, find out if tax rates are expected to move up or down in the coming months. Give the local tax assessor a call to find out when the area was last evaluated. If you find out the town is about to conduct a reassessment, this could mean that property taxes will rise. 7. Suburban Areas If the suburb or secondary market you’re exploring is close to a large city, this could be desirable to people who commute to work but don’t want to live in the hustle and bustle of the city. With rents and property values rising, the outskirts are becoming popular alternatives and have all the amenities a city does. If you’re looking in one of these areas, make sure you check out future development plans. 8. Vacancy If you’ve been in the real estate investing market for even a short time, you know many investment properties are vacant. Check out the vacancy rates for the property type you’re considering in your chosen area. 9. Know What You Need Know what you’re getting into with rehab or a rental property. Study the property closely to get a good understanding of the state it’s in before you commit. This way, if you have repairs and upgrades you’ll be able to make an accurate estimate. 10. Start Small And Learn. If you’re new to real estate investing, start small. As you get used to everything that comes with being an investor, you’ll want a smaller and easy-to-manage property. When you get some experience under your belt and have earned enough money, you can expand your business by replacing your property with a bigger and more expensive one, or purchasing a second one. Armed with these tips, you can start the exciting journey down the road of real estate investing!
5 Essential Financial Steps To Take Before Investing In Real Estate

If you’ve been thinking about investing in real estate, getting your finances in order before you start searching for properties and scheduling appointments will save you from money headaches in the long run. Real estate investments could be one of your largest investments, and unless you have cash ready to invest, you’ll need a plan for financing and a plan for cash flow in the future. Here’s what you need to do before heading out to the property shop. 1. Create A Financing Plan If you have strong credit, consistent W-2 income, and a sizeable down payment, traditional financing could be your best option for your first real estate investment since interest rates are typically low and the terms are attractive. “Figure out how much you can afford based on your current expenses, and how much cash you’ll need to have on hand for renovations and upgrades. Make sure you know where your liquid funds will come from to improve your chances of landing a good deal. With cash, you can move faster, which will motivate most sellers. 2. Review Your Credit Report And Keep It Healthy Request a copy of your credit report through one of the credit bureaus and make sure you dispute any errors or provide an explanation for any derogatory issues or late payments. Keep your credit score from slipping by: avoiding any new credit inquiries, canceling any credit accounts, lowering your limits with any creditors. 3. Get Mortgage Pre-Approval With an approved mortgage in hand, most lenders will lock in an interest rate, so if rates fluctuate upwards while you’re searching for the perfect investment property, you can relax knowing that your rate isn’t going to change. To get pre-approved for a mortgage, you’ll need to have the following in order: Personal documents: Two forms of government-issued ID, your social security number, as well as proof of ownership of other property, including your primary residence or other investment properties. Tax returns: For the previous year, and potentially for the last two years. Proof of income: W2s, paycheck stubs, 1099s, or if you’re self-employed, a year-to-date profit and loss statement. Proof of assets: Bank statements, 401Ks, IRAs, and money held in stocks or mutual funds. Summary of all debt: Primary property loan(s), credit card balances, student loans, and all monthly payment amounts. 4. Stay Competitive By Doing Your Homework Just because your financing is approved, doesn’t mean you’re ready to start shopping. Do some comparison shopping and contact other lenders to see what kind of interest rate they can offer. A few percentage points might not seem significant, but can save tens of thousands or more over the lifetime of a loan and affect your monthly cash flow. Consider checking with a bank other than the one you bank with; they might be very likely to be more competitive to win new business. 5. Liquid Funds Based on your financing plan, you’ll have figured out: How much cash you need to have in hand for a down payment and closing costs. How much money you’ll need for renovations or repairs if the properties you’ll be considering aren’t turn-key. Consider your cash flow from month to month to make sure you’re not projecting negative cash flow. Or if you are, that you have a backup source of cash such as drawing from your personal accounts. The goal of real estate investing is usually to make money. As your investment style evolves and matures as a real estate investor, the amount of risk you can withstand is bound to change. Keep your original goals in mind, and do your homework to help position yourself to enjoy the financial returns.
How To Maximize A Small Living Space?

Between micro-apartments, tiny homes, and even #vanlife, the real estate industry is taking the saying “less is more” to previously unknown levels. And while we can all get behind the idea of streamlining your life and shedding possessions that no longer meet your needs. The good news is that as we’ve become increasingly obsessed with small living spaces, we’ve also discovered (or recovered) strategies to maximize what you’ve got. Whether you already live in a small space, you’re downsizing, or you just want to be more efficient with the space you have, these tips will help you achieve your miniature-lifestyle dreams. Look high and low As humans, we’re socialized to see what’s in front of us -- and little else. Ask any hide-and-seek champion and you’ll learn that there’s a whole world of possibilities both above our line of sight and below it, where we rarely glance. Take a walk through your living space and pay special attention to space above your head toward the ceiling and space below your knees toward the floor. If you’ve got high ceilings, you might find a ton of new opportunities for shelving or other storage options. Make sure you’re focusing on “unusual” spots, too -- like under the stairs, for example. We’re not suggesting you turn that space beneath the stairs into a bedroom, but it’s certainly possible that when you bypassed the stairs, you also neglected the perfect space to store out-of-season clothing items. Consider your furniture while you’re examining your place from floor to ceiling. If space is at a premium, then you’ll want to find dining room seating (for example) that tucks completely under the table when you’re finished. One great way to make your space look larger-than-real-life is to arrange all of your seating lower to the ground. Instead of a couch in the living room, you might consider a futon that folds into a bed -- or maybe even just some big, comfortable cushions that can be stacked in a corner when you’re not lounging or entertaining guests. Transparency is key One of the essential problems with living in a small space is that a “traditional” home is very much divided up by function. You sleep in the bedroom, cook in the kitchen, work in the office, and relax in the living area -- all of which are divided up by walls. Smaller living quarters often try to replicate a traditional home, but if you’re living in a tiny space, then you might not want walls dividing everything up … and even if you do, maybe a permanent wall of brick and mortar is the wrong move. Glass doors and walls can functionally separate your space for living without sacrificing any of your line-of-sight vision, giving the illusion of plenty of room even in a smaller home. If you’d like to actually block off space physically and visually, then hanging a curtain that you can fling open or draw closed can be a nice way to create a “room” within a room -- without the walls. Mirror, mirror Hotel designers know this trick (and you won’t be able to unsee it now that we’ve told you about it): Hang a large mirror across one wall to give the illusion of twice the space. When you arrange lights around or in front of the mirror, you’re also brightening the room up significantly. You can hang the mirror above a couch or a bed, or on the back of a door, very easily. And you can even find mirrored tile these days, so if you love the look of subway tile and also would like to take advantage of some mirroring in your bathroom or kitchen, then you can even consider a mirrored backsplash in one (or both) of those spots to capture light and brighten the room. Work those walls (and ceilings) Now that you’ve walked through your home with an eye toward the sky, you probably know where you are missing an opportunity to maximize your space. Could you replace your kitchen light with a version that includes a rack for pots and pans, for example, freeing up some cabinet space below? Are you parking your bicycle in the hallway when you could install a couple of hooks and hang it up? Is there space to add a bookshelf or three for storing rarely used items? (Or books?!) You might find there’s space above your kitchen cabinets where you can park small appliances that you don’t use very often, or maybe there are corners throughout your living space where you could install a shelf and use it. Remember: Your floor is just one surface; you can create many more if you need to. Stackable (or stashable) appliances Yes, you can have a washer-dryer in your small abode -- but it’s probably best if you choose a set that stacks to help save some floor space. Appliance manufacturers have been paying attention to the micro-trend, and they’ve been building products for smaller spaces that work just as well as their full-size counterparts. Before decking out your diminutive dwelling, do some research on what appliances are available and consider whether they would work for you and your lifestyle. Elevate your furniture Lifting up your furniture just a few inches can expose treasure troves of storage space. If you’ve got a traditional bed or sofa and need to maximize your storage surface area, then consider getting some risers for either piece of furniture and investing in some low boxes or other storage containers that you can slide underneath. Make your outdoors great Maybe that space between your walls is officially “tiny” -- but if you’ve got the ability to spread yourself around outside, then consider turning your deck or yard into a bonafide living space. Patio furniture and hammocks can help you create a dining or lounge space outside, complete with furniture, and if you have room for a grill outside (and the weather is nice enough year-round), then you might even be able to turn your out-of-doors into a kitchen of sorts. And storage shed outside can solve a lot of your storage problems, too, from out-of-season clothing to recreational equipment. Keeping the lawn mowed and your flowerbeds blooming can also go a long way toward making your home feel serene instead of cluttered and overstuffed with “stuff.” If you maintain the outside of your home, it will invite you to relax just as effectively as a king-sized feather bed with fluffy white pillows or leather sectional in front of a television.
Deep-Cleaning Tips For Homeowners

If you've never owned a house before, then it's entirely possible that you've never deep-cleaned a house. (Hey, no shame in that game.) But when the house is yours, the desire to see it as clean and sparkling as it can possibly be is strong -- and you might have no idea where to start or how to go about getting your clean on. Don't panic! Take a deep breath and remind yourself that nobody knows how to do everything. Then follow these tips for homeowners that will outline exactly how to go about deep-cleaning any home ... and how to maintain it so that next time you don't feel so overwhelmed. Make a list, then divide and conquer The most overwhelming part of deep-cleaning is undeniably the moment when you start to realize just how much there is to do. Before you even let yourself go there, stop and make a list of everything you need to do. Begin by listing all the rooms in your house. Include a space for your garage, the basement or the attic (if you have one) and for outdoor living spaces like porches, balconies or decks. Start listing what needs to be done in each of those spaces. Before you know it, you'll have a comprehensive list of absolutely everything that you need to do to get your house as clean as it's ever been. After you've got your master list, start dividing it up. You can assign different rooms to other household members who are helping with the massive clean or divide it by day of the week so that you're spacing out your deep cleaning in a way that doesn't overwhelm you. Start at the top Gravity can be your friend or your enemy when you're cleaning a house. You can avoid a lot of heartache by understanding this truth and beginning your work at the top of each room, moving your way down. That way any dust you're knocking loose from high shelves or light fixtures will land on a floor that you haven't yet cleaned instead of a floor you just finished mopping. It might help to organize your list from literal top to bottom before you even walk into the room. That way you can easily run down the list in order without messing up an area you just cleaned. Declutter, declutter, declutter When you have a lot of stuff -- books, clothes, sports equipment, pots and pans, whatever -- then cleaning around all of it becomes a challenge. The first step in any room should be a sweep to assess what you use and what you haven't touched in a year or more. Anything that falls into the latter category should be considered for disposal -- give it to a friend or donate it if you like. It may feel painful to part from your things, but keeping your house looking neat and clean will be so much easier if you can power through the hard part and let go. Get serious about decluttering now so that your home will look cleaner and more presentable forever. Clean your screens and windows Let's be honest: Cleaning screens and windows can be a real pain, which is probably why it doesn't get done very often. But it makes a huge difference in the quality of light that pours through those windows, and it's well worth addressing at least once a year. While you're washing the windows, make sure you're paying some attention to the windowsills both inside and outside the house. Don't forget the light fixtures Windows aren't the only factors influencing the quality of light in your house. Your light fixtures might be dusty or dirty and you wouldn't even notice because they're so far above your head. Make sure that you're removing and cleaning light fixtures in each room, drying them thoroughly before you replace them. Organize, organize, organize If you just moved in, then the odds are good that you've still got a box or two packed up and stashed away in a closet. Deep cleaning means deep organization, so if the stray-box theory sounds a lot like you, then it's time to finally finish the job. Even if you've already unpacked absolutely everything, this is still a good time for you to figure out how you're going to establish a place for everything and everything in its place. Once you have an organizational system that works, be it for your bookshelves or your toolshed, then all you have to do to keep everything spiffy is to follow that system. Tackle the kitchen appliances If your microwave is crusty, then odds are good that your other kitchen appliances could also use some attention. The oven, the stove and the refrigerator are usually the dirtiest appliances in the house, so make sure you're putting them on your rotating "to clean" list -- and stick to it. Some newer refrigerators include easy-to-remove shelves and door inserts that you can clean in the dishwasher. If you're due for a fridge upgrade soon, then look for a model that has some of those cleaning-friendly features. Power wash While you're sprucing up the outside, rent or borrow (or buy) a power washer and tackle the house itself. You will be amazed how much dust and dirt accrues on the outside of your house, the deck, the porch, and other areas -- washing it off can make your house look like it's got a brand-new paint job, plus you'll be eliminating any cobwebs in the bargain. Make it a habit If you only do all of these things to your house once a year, then it's not going to stay clean for very long. Keep your list of rooms and think about your daily and weekly schedule, then try to squeeze in some deep-cleaning work every now and again. You'll find that your entire house stays cleaner for longer, and any special-event deep cleaning that you might have to do will be much easier when you have a plan for upkeep.
What Your Agent Should Do For You?

Just like in any other profession, there are good real estate agents ... and there are, unfortunately, subpar real estate agents, too. But how do you know if you've got a dreamboat or a dud handling your real estate transaction? One way to know whether you've got a good agent (or not) is to consider some of the tasks and activities that a really good agent will manage for a client, then apply what you've learned to your own agent. If you don't have time to track down all of the things that a good agent should be doing for a buyer or a seller, then you're in luck: We've compiled a list so you don't have to. Ask you about your homeownership needs (and hopes) It's dangerous to make assumptions at the best of times, but when it comes to shopping for a home, assumptions are downright dangerous. So if you have an agent who assumes ... everything ... be wary. A good agent should ask you questions -- lots of them -- about where you've lived, what you liked and disliked about both the home and the neighborhood, where you work, how long you plan to stay there, your future family plans, and more. This is all to the greater good of helping you find the right place and possibly revealing a neighborhood or property type that wasn't on your radar: Start here Recommend a mortgage broker If you don't already have a mortgage broker to help you with your loan, then your real estate agent should be providing referrals for someone trustworthy. (And any agent worth his or her salt should definitely ask if you're pre-approved!) Real estate agents work on real estate transactions every day, and they have contacts who can help with mortgage, title, appraisals, inspections, and beyond. Use them! Give you feedback on the neighborhoods Unless you've lived in a neighborhood your entire life -- and even then! -- there will still be things to learn about the place where you're buying your home. A good real estate agent should be able to answer your questions and explain how each neighborhood compares against the others. You'll probably have questions about everything from where to buy groceries to where to walk to dog to what people do for fun on weekends, and your real estate agent should help answer those questions. Help you find a home You might think that finding a home is as easy as looking it up on the internet, and for some lucky people, maybe it is. But most buyers have to check out endless potentially unsuitable homes before they find "the one" that's their long-term best fit, and pictures (especially on the internet) can be deceiving. An agent should hook you up with an MLS feed that will alert you when a home that meets your criteria hits the market -- and agents should also help you come up with alternate strategies if the going is just too tough in your price range. Price the home correctly For sellers, this is one of the most critical jobs that your agent will complete -- and if they don't do a good job, you could lose tens of thousands of dollars. Pricing the home correctly right out the gate is absolutely vital to selling the home quickly and for fair-market value. Some agents will inflate the possible sales price and tell sellers that they can always reduce the price if they don't get an offer. Although this is certainly true, those agents are misrepresenting a bigger truth: your listing is going to get the most attention from qualified buyers within the first 48 hours of hitting the market. It's not typically wise to go with the agent who offers the highest sales price; instead, ask prospective agents how they calculated that sales price, whether it lines up with the typical price-per-square-foot in your area, and how long homes priced in that range tend to stay on the market. Market the home well One reason why sellers hire a real estate agent in the first place is that the agent has a marketing platform to use to advertise the home for sale. Some homes require more marketing than others, but agents should have a plan to market every home they list. And marketing goes far, far beyond "put it on the MLS, Zillow, and realtor.com -- then pray you get a qualified buyer." If you don't know the listing agent's plan to market your home -- or worse, if you don't think the agent has a plan at all -- then that's a huge sign that your agent might not be the best fit for you. Help you pick an inspector When a buyer is financed for a home loan, the lender is going to want to know that the investment is solid -- that the house doesn't have any major issues, for example. That's where the inspector comes in, and the inspector will have to enter the picture before closing. Your real estate agent should help you find an inspector and answer any questions you have about whether the inspector's price tag is reasonable. Attend the appraisal A lot of agents do not consider attending the appraisal to be particularly pressing -- and that's fine. But if the appraisal comes in under the sales price and there were no agents present to answer questions or help the appraiser figure out the home's value, then you've got a problem that might not be very easy to solve. Many buyer's agents will make a point to attend the appraisal and make sure that the appraiser has access to everything he or she needs and can get any information necessary to complete the appraisal thoroughly. Is yours one of them? Communicate, communicate, communicate A lot can change between putting an offer on a home and actually moving in. The real estate agent should be the person who knows all of the different parts and pieces of the transaction -- and is willing to serve as the point of communication between them. If the appraisal is delayed, or there's an issue with the loan, then the agent is one who is communicating that information to the people on each side who need to know. An agent's job is to make the transaction easier for you, and that typically means managing the messages for everybody.
10 Ways To Make Your Home Energy-efficient

Not too long ago in our country's history, talking about making your house "greener" might get you labeled a hippie tree-hugger. But times change, and as gas, electricity, and water prices creep up, more and more homeowners are seeing the (strong) advantages that come with considering the environment when you make decisions about your household. Are you interested in making your home more energy-efficient -- and saving money in the bargain? You have a lot of options, from cheap to expensive, so read on to discover whether there are some big (or small) energy-saving opportunities that you're missing. 1. Get an energy audit Most utility companies offer an energy audit, oftentimes for free: They'll send an expert out to your house to take a look at all your appliances, your lights, your windows, your doors, and more -- then make recommendations for changes you can make that will save energy (and money) every month. If you want a personalized rundown of everything you could do to and for your house to make it more energy-efficient and environmentally friendly, an energy audit is a must. 2. Swap out your lightbulbs Compact fluorescent or even LED bulbs are more expensive than incandescent bulbs, but they also last at least 10 times longer than incandescents and use only about 25% of the energy of an incandescent bulb. As your incandescent light bulbs flicker out, consider replacing them with a greener alternative. And if you decide to swap them all out at once, you'll start seeing a difference pretty quickly in your utility bills! 3. Pay attention to the sun There's a lot you can do to heat and cool your home without spending any money at all -- but you'll need to keep tabs on where the sun is in the sky. In the northern hemisphere, windows with southern exposure are going to get the most direct sunlight, so start with those. Make note of whether and when the sun shines into your home across every season, then adjust your habits (and your blinds) accordingly. For example, if the sun is shining directly into your house during the winter season, then you might be able to save some money on your heating bill by opening up all your curtains and blinds in the morning to allow the sun in. But if you're getting that direct sunlight in the dead heat of summer, then the opposite applies: Close your blinds and curtains in the morning to keep your house cool. 4. Weather-stripping your windows Especially in some older houses, sometimes windows might not be entirely airtight -- meaning that you've got drafts from the outside sneaking hot or cold air into your home against your wishes. A relatively cheap and easy fix is weatherstripping your windows to eliminate those drafts and ensure that what's outside doesn't creep inside and vice versa. It's as simple as a trip to a hardware store and a few minutes to weatherstrip each window back at the house. 5. Turn down your water heater Hot water feels amazing in the shower ... but here's the thing: Your water heater is constantly working to keep its water consistently hot, and if you've got the gauge set at a high temperature, then "consistently hot" takes a lot of energy to maintain. Take a look at your water heater's settings and ask yourself if the hot water really needs to be as hot as you have it. Turning down the temperature ten or even five degrees can result in some surprising savings -- and you might not even notice when you're mixing that hot water with cold for your ablutions! 6. Collect rainwater Depending on where you live, the weather might be an asset that you haven't tapped yet. You can't use rainwater for everything, or even very many things -- you can't drink it, and you won't want to use it to cook, wash dishes, or bathe with -- but if you keep a cistern of rainwater in your yard, then you'll always have a green way to water your grass and flowers in the spring and summer. 7. Swap out your showerheads If you like to take long showers, this fix can be especially helpful: Change your current shower head for a low-flow version that uses less water. These often have several settings for pressure and spray so that you can customize your shower experience -- and you probably won't even notice that you're using significantly less water once you make the change. 8. Buy a smarter thermostat You don't necessarily need a "smart" thermostat for your home (although it's always nice to change the temperature using a phone app from the couch -- just saying!), but if you don't have a thermostat that you can adjust to change the temperature at different times of the day, then you should definitely invest in one. For example, you could set your thermostat to lower the temperature of the house by 10 to 15 degrees when you're at work during the day, and instruct it to start bringing the temperature back up to "normal" an hour to 30 minutes before you arrive home. Many thermostats even let you designate temperature by days of the week, so if you know that you're almost never home on Saturday night or Sunday morning, you can adjust your temperature accordingly. 9. Air-seal (and maybe insulate) your attic and basement You may know that heat rises, and that applies as much inside your house as it does in the world outside. That means a drafty attic could result in a lot of energy spent keeping the house warm in the wintertime, and it won't do you any favors in the summer, either. An uninsulated basement can also let in cold air in the wintertime and out in the summertime. Check to see if your basement and attic are air-sealed and insulated. If not, consider investing in an upgrade. 10. Use a manual push mower If you live in a region where grass grows like weeds and you don't need to water, then maybe it makes perfect sense to keep your lawn ... but you'll still need to mow it regularly. One greener alternative to a riding mower or a motorized push version is an old-fashioned manual push mower. They do work, but you'll be using your own elbow grease instead of gasoline to power the blades, so you'll get a workout while you mow. Deciding to make your home more energy-efficient can involve a simple move like turning off water to rarely used sinks and toilets, or as complicated and involved as replacing appliances and installing solar panels. Figure out your ideal level of investment and take things one step at a time -- before you know it, you'll have a green home that saves money without sacrificing comfort.
Guide To Preparing For Showings

When you're selling your house, it can be tempting to hope that buyers will see past the surface to the beautiful bone structure of your abode and realize what a lovely life they could make in it. But the truth is that most homes could use a little bit of a facelift before you invite people to walk through and hope they'll make an offer on it. So what do you need to do, exactly, to get your house into perfect shape, and keep it that way throughout all the showings and events? Here's a rundown of the steps you can take to make and keep your house not only picture-perfect -- but open-house perfect. Getting started There are a few steps you'll want to take throughout your house in order to get it ready for deep cleaning and make it presentable for showing. Start by walking through each room and asking yourself what items you haven't used lately or that you can do without for a while. Minimizing the stuff in your house will make it much easier to keep everything clean throughout the selling process. Don't forget about the furniture! Removing furniture from a room can make it look more spacious. If you don't want to get rid of anything, rent a storage unit where you can stash your larger items until you're finished showing your house. When you've removed one-third to half the furniture in your house, rearrange what's left to create inviting pathways through each room. Visitors should be able to walk around everything without bumping into anything else. You'll want to pack up and stash any books, clothes, appliances, equipment, or other things that you don't need or want immediately (or, realistically, for the next couple of months). It's fine to keep a few back -- nobody lives in a completely empty house -- but remember that less is more and do your best to streamline to less. Details, details, details Now that the house is more or less arranged the way you want it, it's time to start paying attention to some of those details. Look at your walls and ask yourself if you need to add or remove anything. One strong piece of artwork in each room is a good goal -- two if the room is really big. Where you aren't replacing art, repair any holes in the walls and paint over them. In fact, if you're going to give any rooms in your house a coat of paint, now is a great time to do that -- before the real deep cleaning starts. Add a houseplant or two. Assess your houseplant situation: How many do you have, and do you need to remove or add any? Like artwork, one or two plants per room is probably a good balance. Assess the lighting in your house. Are there dark areas in certain rooms? A well-placed floor or table lamp or two can take any room from gloomy to soft and relaxing, so think about where you could use a little light help and add it. Think about how your house (and each room) smells as you walk through it. If you have pets and your nose might be sensitized to odors, then ask a friend to give you an honest opinion about how odiferous the place is. Once you've tackled these general tasks, it's time to get down and dirty in each room and outside your house. Get ready! The kitchen If you haven't already decluttered the kitchen, start with the cabinets and work your way down. Box up and store any dishes and kitchen appliances that you don't need accessible -- you may be in for a few weeks of boring dinners or take-out, but it's all in the name of making your house stageworthy. Organize your pantry, your cabinets and other kitchen storage spaces, which should be quite a bit easier to do with fewer items to organize. Remove everything from your countertops and deep clean them, making sure you scrub the backsplash and pay attention to any tile grout (you may want to steam clean or bleach grout if you have tile countertops or floors). Spend some time cleaning all of your appliances -- oven, stove, fridge, microwave. Replace any worn burner pans on your stove, and remove any personal items you've secured to your fridge door with tape or a magnet, like kids' drawings or phone number lists. The living room Clearing off surfaces is going to be the first order of business in the living room. If there are ashtrays on coffee tables, remove them while your house is on the market and find somewhere else to smoke. After you've cleared coffee tables and bookshelves of any mementoes or unnecessary items, clean and dust the tables and bookshelves, then do your best to keep those surfaces clean and dust-free. Kids' toys can be one of the biggest contributors to a messy living room, so confine them to bedrooms or invest in a toy chest or bin where you can quickly toss them and keep them out of the way. Make sure any fireplaces or wood stoves are in good working order and clean off and dust any mantles. Only replace items that aren't too personalized, and make sure that mantles aren't crowded with knick-knacks. The bedrooms Do you have a "special occasion" bedding set that doesn't get used very often? If not, you might consider investing in one -- talk to your real estate agent or stager before you do to get an idea of what's appropriate. If so, now's the time to haul it out and put it on the bed, so make sure that your nicest bedding set is on display in the bedroom. Clear off all the surfaces in your room -- bedside tables, dressers, and any other surfaces -- and clean them thoroughly. Make sure you've purged any personal items and keep any additions minimal and dust-free.
Open House Prep Guide: Get Ready In 5 Steps

An open house can be an ideal way to introduce a bulk of buyers to the property you're hoping to sell them, and done right, an open house can sometimes generate multiple offers. The key, though, is "done right" -- not every open house is going to be a buyer's bonanza, and not every open house showcases a home at its highest potential. You want buyers walking in to feel welcome and for the house to be presented as at least a little bit of a party venue, so buyers can imagine themselves hosting their own event for friends and family in the home. What does it take to prepare for and host the perfect open house? The following 5 steps will help you create a memorable (and, ideally, lucrative) event that will have buyers dreaming about living in your home. 1. Consider a broker's open house A broker's open house is an open house specifically for real estate agents or brokers who have buyer clients. It's another option that you might discard as too much work, but hosting a broker's open house before your home actually hits the market can create some buzz around the property and help with word-of-mouth advertising -- if an agent or broker thinks it might be perfect for their client (or clients) and have a chance to walk through and check everything out in advance, then they'll be more likely to add it to their list of "must-visits" when you host an open house for the general public. 2. Set a date Deadlines make things happen, so give yourself one when it comes to your open house. The timing is up to you, of course: Weekends are perennially popular for open houses because lots of buyers tend to be available, but for buyers who work alternate schedules, a weekend might not work so well. A weekday evening might be a better option, depending on the price range for your home and whether a bulk of qualified buyers work in jobs that keep them mostly occupied on weekends. Consult with your real estate agent about which days of the week and times of day have historically worked best for them, and see what you can find out about the schedules and availability of most buyers in your area, then figure out a time and date based on what you've learned and start getting ready for launch. 3. Tell everybody No one will show up to your open house if you don't tell them when it's happening and where it is, so marketing the event is a critical component for success. There are a number of ways to do this, you can: put a notice up at the post office or possibly even the local coffee shop, ask your agent to add it to your listing information, see if any local publications will let you place an open-house advertisement in the appropriate place, post information at your agent's office and even other brokerages (if allowed), and of course, set up signs the day of the open house with the address and time clearly visible. Social media is another fantastic way to advertise your open house. Put it up on Facebook and add it to any neighborhood-specific groups so that people who are interested in the area can see it and tell their friends. Make sure you post it on Nextdoor, too. 4. Remove clutter Once you've set a date and advertised the home, it's time to get your property ready for its close-up -- and, fair warning, that's probably going to take a lot of work. You'll need to transform your home from loved and lived-in to looking more like a vacation rental: The ideal look is comfortable and inviting, but not personal. Start with a serious clutter-removal operation, including furniture. You might want to get rid of a few chairs or even an entire sofa in the living room, end tables or even an entire dresser in the bedroom, and a file cabinet or other ancillary furniture in your home office. Remove any personal items, including family photographs from the walls or fireplace mantle, and if you have substantial music or book collections, it might be a good idea to scale back the number of items. Remember the ideal and focus on culling any potentially alienating or divisive items, especially; it's fine to have a fixation on religious or political collectibles or artwork, for example, but if you wouldn't find it appropriate in a vacation rental, then you should probably get it out of the way for your open house event. 5. Move the furniture Once you've eliminated the clutter and even some of the furniture, it's time to rearrange what's there so that you don't have obvious gaping holes in your decor. Your agent might be a good resource here, especially if you're not sure how to replace the giant boudoir-focused images you had hanging on your bedroom walls (hey, we're not judging!). Renting some artwork or items from a stager could work nicely for you, but you may also be able to get away with buying some inexpensive but nice-looking landscapes from a local thrift store and putting those on your walls instead. Think about the flow of your rooms as you move furniture around and try to leave plenty of space for visitors to walk around and through each room.
Is It The Right Time To Sell Your Home?

Is now the best time to sell your home? That’s an intensely personal question that depends on a number of factors -- many of them beyond your control. In 2006, some sellers might have been wondering if they should have waited another year and netted even more profit … but today we know that those sellers would have kicked themselves for making that decision. Major economic shifts aside, there are ways you can manipulate your home’s sale to best benefit you and your family as you move into a bigger place or downsize to better fit your lifestyle. When you’re trying to target the most opportune time to put your home on the market, it helps to consider all of the factors involved and control what you can to maximize your price and profit. The annual real estate doldrums … Most advice you’ll hear about selling will be different, but there’s one time of year that most experts believe you should avoid when it comes to listing a home: wintertime. Between the holiday season and, in some parts of the country, the weather, there aren’t too many buyers incentivized to disrupt their lives and move into a new home, which means they aren’t really thinking about shopping for one, either -- at least in some markets. And fewer buyers means less of a chance that your home will be one of the homes that sells. Winter also isn’t a very fun time of year to be a seller, logistically speaking. You might think you’ll get out of yard work (and you’ll be right), but you’ll probably be cleaning up after visitors tracking rain and snow through your just-cleaned house while they tour it in exchange. … And the peak selling season Just like many experts will warn you against winter, springtime is commonly considered one of the best times of the year to sell a home. Buyers are interested in making a fresh start, yards look lush and green, days are starting to get longer, and tax season gives some buyers a leap ahead on any down payment savings. So does that mean you should sell in the springtime? Maybe … but be aware that other sellers are going to have the same idea. There will be competition in the form of more homes available on the market. Those buyers also might have the options available to be more picky in the home they end up buying, and that could mean they demand changes to yours before paying for it -- or pass altogether. Your home’s favorite time of year Here’s the thing about all conventional wisdom: It’s geared toward the median, the “normal,” the middle-of-the-road. But the reality is all over the map, and the conventional wisdom for your home could be very different from the norm. If you live in a ski resort town, then wintertime could be the very best time of year to list your home -- when the area is full of visitors who are enjoying themselves and wondering whether they might be able to make a permanent move work. If you own a family-sized house with a little room to grow that’s just a two-block walk from one of the most desirable elementary schools in your metro area - it might make less sense to list your home in the early spring, when many families with young children will be preoccupied with the end of the school year, and instead list in early summer, when they’re able to seriously consider a move. Or perhaps the fall foliage in your part of the world is something tourists travel hundreds of miles to absorb, and you’ve got a grove of beautiful deciduous trees in your yard. Maybe you have a swimming pool or deck area that really shines in the summertime. Or maybe it’s your flower garden that makes passersby stop and stare at your house, and the spring really is the best time for you. Does the day of the week matter? Actually, it might. According to a couple of different studies, homes that were listed on Thursday or Friday have been found to sell in the shortest length of time for slightly higher prices than any other homes. It’s possible that the timing of the weekend is what’s honing Thursday’s and Friday’s edge over the other days of the week. Buyers are more likely to have time to schedule home tours or attend open houses over the weekend, and there are likely to be more of those buyers looking at each house (and therefore more chances of getting an offer, or maybe even multiple offers). And if the home was just listed and buyers see that competition for themselves, they’re more likely to put in a full-price offer for the home. It’s usually not a good idea to list a home on a weekend, and you’re less likely to see buyer appointments to tour homes earlier in the week, so if you can’t swing a Thursday or Friday, try a Wednesday. Timing isn’t everything Even if you think you’ve nailed the absolute best time to sell your home and you’ve done all you can repair-wise to maximize your chances, there’s one big mistake that could shoot all your efforts right in the foot: Pricing your home incorrectly when you first list it. Some sellers don’t think this is the huge deal that it really (really!) is. Serious buyers sign up to property watch lists and get an alert as soon as a home is listed on the MLS. Most of the buyers who could buy your home are going to see its listing within the first 48 hours of that listing being “live.” Unless you overpriced it, of course. Then those buyers won’t see it until you reduce the price down to a more realistic level -- and you might think that the price is a starting point of negotiation, but a qualified buyer is searching for “homes I am qualified to buy right now,” not “homes I am not qualified to buy right now but that might drop into my price range later. So you get one big chance to make your home’s big debut in front of its buyers. And if you set the price too high (or too low, for that matter), you’ve blown it. That’s why the best way to maximize your home’s price is to talk to a qualified agent, who can help you figure it out -- and why the best time to sell is when you’re ready.
5 Common Mistakes First-Time Homebuyers Make

Buying a home is always an anxiety-ridden process, and that goes triple for anyone who’s embarking on homeownership for the very first time. There’s so much to do and so much you don’t know that “overwhelming” hardly seems like an appropriate description of how it feels. Even though you don’t want to scare yourself away from the entire process, you still need to be wary of falling into a few common traps that first-time buyers generally don’t avoid. If you’re aware of these five potential mistakes -- and able to keep yourself from making them -- then you’ll be saving yourself some significant stress on your homebuying journey. 1. Not understanding your down payment options The biggest headache for so many first-time buyers is the down payment. If you’ve ever bought a car, then you’re probably familiar with the concept -- it’s money that you contribute to the total cost of the purchase. A down payment of just a couple thousand dollars can get you a head start on your car. If you don’t have a certain amount to put down on your home loan, however, you might find yourself paying private mortgage insurance (PMI) on the lifetime of the loan. Depending on your credit score, the bank and other factors, PMI could cost between 0.5 percent to 1 percent of the total loan amount. Most banks require at least a 20 percent down payment before they will waive the need for PMI on the loan. And most homes in this area cost about $300,000, so that means a buyer would need to bring $60,000 to the table in order to avoid PMI. Some government organizations and lenders try to incentivize first-time homeownership by offering free down payment grants or loans to qualified buyers. Depending on your age, income level, credit score and other factors, you could qualify for free money to wrap into your down payment; a full rundown of programs is available at downpaymentresource.com. 2. Not getting prequalified for a loan Between the amount of money you plan to put down on the home, the potential PMI and other cost factors, your monthly cost could be significantly more (or possibly less) than some of those calculators will show you online. So before you trust those “estimated monthly mortgage loan amount” numbers that you see popping up next to your potential new dream home on Zillow or a brokerage website, it pays to figure out what you can actually afford -- and that means getting prequalified for a home loan. This means you will need to talk to a mortgage loan officer and submit a slew of documentation, from your monthly pay stub to your credit score, in order for that loan officer to tell you how much money you can get for your home loan. It’s a little bit painful, but the prequalification letter you’ll get as a result is much more credible than a quick qualification you can pull up on an app -- and that means sellers will take it more seriously when it comes time to put in an offer. 3. Not finding a qualified real estate agent It’s so easy to find homes online these days that you may wonder why a real estate agent is even necessary. After all, isn’t the hard part -- finding the place you want to buy -- something you can do yourself? Well, maybe. But in areas with red-hot markets, you’re probably not seeing the most updated listings -- that home you just fell in love with online might be under contract before you can set up a time to tour it. Not only can an agent make sure you have access to listings the second they hit the MLS, but a qualified agent should also provide expertise on the area where you want to move. Whether that’s feedback on who can help you with homeowners’ insurance quotes to warnings about some of the frequent pitfalls of owning a home in that neighborhood in particular, a qualified agent is an invaluable resource. 4. Not spending the night in the neighborhood If it’s at all possible, see if you can find an Airbnb or another vacation-rental type of setup where you can crash for a night or two -- preferably closer to a week -- so you can try your new neighborhood on for size. Is an 8 a.m. arrival time at work still reasonable with this neighborhood’s commute? Where are the closest grocery stores, parks, rec centers and hiking trails? What are the overnight noise levels? If there’s a train that rolls through town in the early hours of the morning, you’re near a highway or a flight path -- and any of that is going to disturb you -- then it’s best to figure it out before you’re spending your first night in your new home and wake up to unpleasant (and unexpected) noises. At the very least, you can learn enough about the neighborhood to know how close to (or far away from) the bus line you need or want to be and target your home search accordingly. 5. Not understanding what’s fixable and what’s a deal-breaker Those drop panels in the ceiling are hideous, and you can’t imagine how anyone can fit into that miniscule bathtub. Are those annoyances that can be fixed or deal-breakers that mean you should pass on the property entirely? This is another area where a good real estate agent can help. They see so many houses in various stages of repair and updating that they can show you where you can claim another foot or two for bathtub space (and help you figure out how much it will cost and who’s trustworthy enough to take on the job) or let you know that the ceilings are too low for any changes to make much of a difference. None of these mistakes will keep you from buying a home of your own -- but they could delay the process and cost you hundreds (if not thousands) of dollars at the end of the day. But if you’re able to avoid them, you’ll be signing the closing papers on your dream home before you know it!

MY TIPS AND BLOGS

Mastering the basis of real estate matters may be the best way to feel more confident during your journey. Explore my blog posts to discover some interesting news.

MY BLOGS

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