You don’t get a second chance at a first impression, here are some helpful tips to get your home ready to sell. There are five factors of marketability, but only one you can control. Location and financing are given, marketing is in the hands of your agent, the price depends on the  market, but the conditionof the house can only be controlled by you! Preparation is your contribution to the selling process.

Repairs

Buyers buy on emotion not logic, sellers typically try to appeal to the logic of the buyer. If there are small repairs that are easy to fix it is recommended to fix it because when buyers estimate repairs cost themselves they over estimate by two times which could make it less  them. Things buyers notice as major repairs are the roof, structural integrity, and water damage. When fixing these things make sure everything is in compliance with safety regulations, local ordinances, and city codes. Minor repairs such as leaky faucets, burnt out light bulbs, missing or cracked outlet covers and cracked or chipped window panes make your house looked unkempt. Many minor repairs can be fixed easily  and inexpensively. A good idea to help find these things is to have a friend or neighbor walk through with you because they will notice things that you may not. Fresh paint can make a big difference in appearance.

Clear it Out

“When in doubt, take it out”! Maximize the appearance by minimizing the items in the room . If there are any fixtures in the home (such as window coverings, mirrors, chandeliers, etc.) that your are keeping remove them now to make it simple and minimize confusion later. Walking  through someone else’s house can make people feel awkward, by minimizing personal things in the home it can help potential buyers picture themselves living there. So by removing photos, posters, and things from the fridge will help people feel more welcome and comfortable. Kitchens and bathrooms get the most attention and can be make or brake selling points. So make sure these areas are extra clean.

Appeal to 5 Senses

#1- Sight- Curb appeal is very important being the very first thing they see. Lighting and spacial appearance are key factors also. Make sure rooms are well lit, clean and uncluttered. Plants and flowers are welcoming and set a nice tone.

#2-Sound- There should be none. Which includes squeaky doors, TVs, washer and/or dryers…etc.

#3-Taste- Make the kitchen appealing. It should looke clean and sanitary. The potential buyers should be able to picture themselves eating and living in the home.

#4-Touch- Door knobs should feel tight and secure, carpet should look clean and soft. Temperature should be comfortable, between 68 and 72 degrees.

#5-Smell- The quickest way to peoples emotions is through smell. A bad smell will instanly repel people whereas a good smell leaves a good impression. There are a few tips for smell, you can bake, put cinnamon in the oven or a drop of vanilla on a light bulb. Talk with your agent to see what is best for you.

Team effort

Work as a team with your agent. After the initial walk through your agent will provide helpful marketing advice. Try to be open to objective feedback about your homes condition. To help be ready for each showing have a checklist and check off before each showing. If your have any questions about prparing your home or any real estate related questions feel free to contact me. tameraroulund@hotmail.com

Appraisals are an important part of buying a home. An appraisal helps establish the market value of a property. Your lender will require an appraisal when you ask to use a home loan, because it wants to make sure that the property will sell for at least the amount of money it is lending. Don’t confuse an appraisal with a CMA (comparative market analysis). Real estate agents use CMAs to get realistic asking price based on the market. An appraisal is much more detailed and is the only report a bank will use when deciding to weather or not to lend the money.

About Appraisers

Appraisers are licensed by individual states after completing coursework and internship to familiarize themselves with the market. The lender might use an appraiser on its staff or contract with an independent appraiser. If you chose your own it may have to be approved. The appraiser should be a third party that has not financial or any other connection with anyone involved with the purchase of the home. You will probably pay for the appraisal when you apply for the home.

What You Will See On A  Appraisal Report

• Details about the property along with three similar property comparisons.
• An evaluation of the overall real estate market in the area.
• Statements about issues the appraiser feels are harmful  to the properties value.
• Notations about any serious issues, like problems with the foundation.
• An estimate of the average sale time.
• And what type of area the home is located in.

An appraisal is not a home inspection! Appraisers make notes of obvious problems they notice but they are not inspectors. They don’t look at the roof, check appliances chimneys, or any other typical inspections tasks. You should never determine the condition of the home based on the appraisal. If an appraisal comes in low dont panic, there are usually things you can do to make it work. If the appraisal uncovers other problems just remember most of them are correctable, just work through them one step at a time.

What is a Short Sale?

A short sale is when the mortgage amount exceeds the  value of the property.

When hardships occur and you are unable to pay your mortgage you have two options A- Sell, take the hits and get on with life, cover loss with cash or other assets. B- Stay and pay, liquidate other assets. C- Rent, it may not cover expenses, and will devalue the property. D- Foreclose, lose credit rating and risk future ability.

A short sale does adversely affect your credit, but the negative impact is far less than forclosing. Like all entries short sales remain on your credit for seven years, but depending on other credit information it is typically possible to obtain another mortgage 1-3 years after a short sale.

There are certain requirements to be able to settle a short sale. You must have acceptable hardship such as: loss of job, death, divorce, illness, or a material change since purchase, or a monthly short fall, which is when the seller cannot or soon will not be able to afford all of their monthly expenses. Or the seller just does not have the means to pay the mortgage. There are many advantages in a short sale for all involved. It helps the lender avoid foreclosures and gets the loan off the books. Its preserves about 30 to 50% of the agents business and helps people in need. they also help the US by preserving the market and reducing foreclosures. But most of all it helps you the seller by saving your credit and letting you move on with your life!

Here in Ridgecrest foreclosure are about 35% of the active market. If you are interested in short saleing your home feel free to call me with any questions and concerns. tameraroulund@hotmail.com