1.  Get rid of clutter.  Throw out or file stacks of newspapers and magazines.  Pack away most of your small decorative items.  Store out-of-season clothing to make closets seem roomier.  Clean out the garage.

2.  Wash your windows and screens to let more light into the interior.

3.  Keep everything extra clean.  Wash fingerprints from light switch plates.  Mop and wax floors.  Clean the stove and refrigerator.  A clean house makes a better first impression and convinces buyers that the home has been well cared for.

4.  Get rid of smells.  Clean carpeting and drapers to eliminate cooking odors, smoke, and pet smells.  Open the windows.

5.  Put higher wattage bulbs in light sockets (as long as the socket is rated for higher wattage) to make rooms seem brighter, expecially basements and other dark rooms.  Replace any burnt-out bulbs.

6.  Make minor repairs that can create a bad impression.  Small problems, such as sticky doors, torn screen, cracked caulking, or a dripping faucet, may seem trivial, but they’ll give buyers the impression that the house isn’t well maintained.

7.  Tidy your yard.  Cut the grass, rake the leaves, trim the bushes, and edge the walks.  Put a pot or two of bright flowers near the entryway.

8.  Patch holes in your driveway and reapply sealant, if applicable.

9.  Clean your gutters.

10.  Polish your front doorknob and door numbers.

For more tips or information, please let me know.

REO – Real Estate Owned.  These are properties that have been foreclosed by the bank and now the bank currently owns the property.  They are trying to recoup their costs of the foreclosure, however, the homes are typically listed below market value.

The good news about REO’s you don’t have to wait 4-6 months for an answer with the hopes that your offer is better than everyone elses.  Usually, the bank can give an answer on an offer within 48 hours.

Will the banks pay buyer’s closing costs?  It depends upon the banks.  Some banks are very open to that depending on their bottom line.  With the banks, remember its all about the numbers they don’t have any emotions attached to property.  In their mind the thought is, “Show me the money”

A short sale means the homeowner owes more money on the property than the current market value.  Usually, the homeowner has gone through some major challenges like job loss or multiple medical expenses and are being forced into selling.

Does ”short sale”  mean that it will be a “quick” sale?  Fiction -  On the contrary, usually the short sale process can take up to 4-6 months from start to finish.

The price listed on the MLS is what the property will be sold for. – Fiction – Typically, the price listed on the MLS is the starting point to open up negoitations with the bank.  The bank will not start the short sale process until there is an offer sent to their office.

Using an experienced Realtor through the process can save you time and money – Fact – Hire a Realtor who has expertise in processing short sales.  They are tricky and there are definite steps to take.  You don’t want to use an agent who has not done a short sale that will only be a learning experience for you and them and usually the seller doesn’t have time to mess around with a learning curve.

If you have specific questions about buyer or selling, please send them to me and I’ll be happy to answer them.

• Be picky, but don’t be unrealistic.  There is no perfect.
• Do your homework before you start looking.  Decide specifically what features you ant in a home and which are most important to you.  The “must haves” versus the “wants”.
• Get your finances in order.  Review your credit report and be sure you have enough money to cover your downpayment and your closings costs.
• Don’t wait to get a loan.  Talk to a lender and get prequalified for a mortgage before you start looking.
• Don’t ask too many people for opinions.  It will drive you crazy.  Select one or two people to turn to if you feel you need a second opinion.
• Decide when you could move.  When is your lease up?  Are you allowed to sublet  How tight is the rental market in your area?
• Think long-term.  Are you looking for a starter house with the idea of moving up in a few yeasr or do you hope to stay in this home longer?  This decision may dictate what type of home you’ll buy as well as the type of mortgage terms that suit you best.
• Don’t let yourself be “house poor”.  If you max yourself out to buy the biggest home you can afford, you’ll have no money left for maintenance or decoration or to save money for other financial goals.  Also, don’t forget to include the cost of utilities.
• Don’t be naive.  Insist on a home inspection and, if possible, get a warranty from the seller to cover defects within one year.
• Get professional help.  Do you know that when you hire a Realtor as a buyer’s representative it’s FREE!!  Unlike a listing agent, whose first duty is to the seller, a buyer’s agent is working only for YOU!  And often, buyer’s agent are paid out of the seller’s commission payment that they have already agreed to with the listing agent.

Should I buy now?  Housing may never be this affordable again.  Over the past few months, the market has created very interesting opportunities for first-time home buyers.  If you are renting, now is the time to take advantage of these opportunities. 

You can improve your lifestyle.  You can start earning your own equity instead of paying your landlord’s mortgage and putting money into his pockets.  You won’t have to ask permission to paint a room, have a garden, or remodel.

Take advantage of the great pricing.  Utah housing is affordable and more than ever before, the market has some great interest rates along with some incentives.  It is a buyer’s market and this means you can find some great deals!  The sad thing is we don’t know how long the market will stay at its current pricing.

There are signiciant tax benefits along with the $8,000 incentive for first-time home buyers.  Remember this is only in effect until Decemeber 1, 2009.  Don’t forget the other tax benefits of deducting the mortgage interest and property taxes.  This keeps more money in your pocket right away and each year that you own your home.

Rental rates have been on the rise.  In Salt Lake County, they have increased 9.2% over the past year.  Stop flushing your money down the toilet!!

There are currently a large number of homes on the market ranging in all different price ranges.  The best options for homes and locations always move first.  Move quickly to make sure you are the one who gets the best option.