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Comey & Shepherd
2716 Observatory Ave
Cincinnati, OH
513-321-4343


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Posts Tagged ‘Home Sale Tips’

Don’t forget to focus on cost. Don’t just focus on price.

Thursday, August 25th, 2011



I came across this article today and thought it deserved a reprint. With interest rates at a near 50 year low and home prices down off of 2005-2006 highs, it’s a great time to buy!

Why They Are Saying to Buy A Home Now
by The KCM Crew on June 14, 2011 http://kcmblog.com

Despite what appears to be a non-stop wave of tough news regarding real estate, four major media players have come out this month with the same advice: It Is Time to Buy a Home! Here are the four articles and a breakdown as to why the advice makes sense.

The Wall Street Journal: Why It’s Time to Buy

CBS Money Watch: Why the Time to Buy is Now

Forbes Magazine: 9 Reasons to Buy a House Now

National Public Radio: For Many, It’s Still a Good Time to Buy a Home

With prices continuing to depreciate in most regions of the country, some may wonder why these four entities are suggesting to their readership that now is the time to buy. Each organization realizes that PRICE is not as important as COST. The cost of a home can go up even if prices continue to fall. Unless you are an all cash buyer, you must take into consideration the expense of mortgaging when calculating the full cost of a home. Here is some information to consider.

Interest Rates
Currently, interest rates sit at historic lows. However, Fannie Mae, Freddie Mac, PMI and the National Association of Realtors are all projecting approximately a 1% increase in mortgage rates over the next year. A one percent increase in rate negates a ten percent fall in prices.

Lending Standards
The government has proposed a tightening of lending standards called Quality Residential Mortgage (QRM). If accepted as proposed two things will happen:

The qualification process for loans will become more difficult
The cost of a loan will increase

Bottom Line
There is a reason more and more financial organizations are suggesting to their followers that now is the time to buy a home: because the cost of purchasing a home is about to increase (even if prices continue to fall).

Preparing Your Home for Sale

Thursday, March 24th, 2011

Spring is here in Cincinnati and we’re coming into one of the busiest seasons for real estate. With so many people getting ready to list their homes for sale I thought I would repost Comey’s handy “Preparing Your Home for Sale” reminder sheet.

As a home seller it is important to remember that not everyone has the same taste in home décor. You need to view your home through a “buyer’s eyes.” Our goal will be to make the home appeal to the masses. Here are some simple things you can do to improve the value of your home and help ensure a quicker sale:

Exterior

  • Mow the lawn and trim the trees and shrubs away from the house.  You can’t sell a house that can’t be seen.  Rake the leaves; remove dead plants, flowers and shrubs.
  • Put tools, garbage cans, hoses, toys ets. neatly in the garage.
  • Clean windows and front door.  Paint if needed.  Polish brass trim.
  • Seal or resurface the driveway.

Interior

  • Use bright light bulbs in foyer fixture.
  • Clean woodwork, carpeting, windows.
  • If necessary, paint walls a light neutral color.

Living Room

  • Remove extra furniture that can make the room look smaller/cluttered.
  • Clear away magazines, books, and unnecessary objects.
  • Add lamps if the room is dark.

Kitchen

  • Thoroughly clean the oven.
  • Clean all appliances inside and out.
  • Wax and polish the floor.
  • Remove pictures, magnets and reminders from the refrigerator door.
  • Clear off the countertops.

Family Room

  • Clean the fireplace
  • Consider replacing the carpeting if it’s color is not neutral
  • Remove warn furnishings

Bathrooms

  • Put things away!  Make every bathroom look like a guest bathroom.
  • Make sure all fixtures are immaculate.
  • Fix leaky faucets, rust stains, and plumbing that may squeak or bind.
  • Caulk and grout tile.  Bleach discolored grout.

Master Bedroom

  • Keep in mind that after the kitchen, the master bedroom is the next most important room in the house.
  • Furnish the room simply.
  • Pack away off-season clothes to make the closets appear roomier.

Children’s Bedrooms

  • Remove all posters, clothes and clutter.
  • Patch and paint the walls if necessary.
  • Open the curtains and shades.

Garage

  • The perfect garage contains only cars!  If this is not possible clean up and toss out unneeded items.
  • Clean and seal the cement floor.
  • Clean and organize shelf areas.
Market Recap

  • Avg. Sales Price: 379,000

  • Avg. Days on Market: 69

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