Price, Proximity to Work and Design Are Key Concerns for Home Buyers

March 25, 2013 by

Price, Proximity to Work and Design Are Key Concerns for Home Buyers

Price and proximity to work are key concerns for first-time home buyers, while trade-up buyers tend to be most focused on the design of the home and the neighborhood, according to “Characteristics of Home Buyers,”an analysis of the recently released 2011 American Housing Survey (AHS) by the National Association of Home Builders (NAHB).

The biennial survey, which is conducted in odd-numbered years by the Census Bureau, covers about 6.8 million home sales that occurred in 2009 and 2010. NAHB’s analysis additionally compares the homes that buyers purchased with what they say they want using results from “What Home Buyers Really Want,” a new consumer preference survey published by the association.

“Among first-time home buyers, price was the most frequently cited reason for selecting a particular house, with a 38 percent share. At 30 %, proximity to work was the most frequently cited reason for choosing a specific neighborhood,” says David Crowe, NAHB’s chief economist.

“The majority of trade-up buyers (36 %) cited the design of the home as the primary reason for selecting a particular house, with 28% citing the looks and design of the community as the reason for choosing a specific neighborhood.”

More than 90 % of the sales reported in the 2011 AHS were existing homes, a significant increase from previous years. “Sales of new homes were very low in 2009 and 2010 due to the unique circumstances surrounding the Great Recession and the housing market crisis. We expect that situation to turn around as the housing market recovery takes hold,” says Crowe. “More than half (55 %) of the people surveyed for “What Home Buyers Really Want,” NAHB’s consumer preferences study, said they would prefer to purchase a new home rather than an existing home.”

There’s good reason for that preference. New homes provide buyers the opportunity to choose finishes, fixtures, flooring and more. And they are apt to have the other elements that buyers want including open design, up-to-the-minute kitchens and baths, and features such as a laundry room and walk-in pantry that help with organization and storage.

There is also growing interest in single-story homes, and energy efficiency continues to be a concern. In fact, nine out of ten buyers surveyed would prefer to purchase a home with energy-efficient features and permanently lower utility bills rather than to buy a home without those features that costs two to three percent less.

New homes today definitely fit that description, and as a group are the most energy- and resource-efficient homes ever built.

“No matter what their preference for location or style, financially qualified buyers are likely to find a new home with the features they most want,” says Crowe. “The housing market is strengthening in most areas of the country, and home builders are eager to help buyers achieve or further their homeownership goals.”

For more information, visit www.nahb.org

 

John Marcotte

720-771-9401

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The Echo Boom: The Next Generation

March 24, 2013 by

The Echo Boom: The Next Generation

grunge interior wall and floor Sometimes it takes a 30-year industry veteran to have the clearest vision into the next 30 years of the industry.

It’s no surprise to Sherry Chris, president and CEO of Better Homes and Gardens Real Estate LLC, that home buying trends, consumer characteristics and needs, along with marketing and communication strategies surrounding the real estate market have evolved with exponential speed in the last few years. Chris has been an innovator within the real estate industry throughout her three-decade career and is keenly aware of how today’s current and potential homebuyers are exceedingly different from past generations. Given that the 103 million people who comprise the echo boomers—adults 18-35 years old—came of age during one of the most dramatic housing-market downturns in U.S. history, one would expect that this new wave of potential homebuyers would have a different view of homeownership compared to baby boomers and, consequently, be trepidatious about taking the proverbial plunge. But new, groundbreaking data from Better Homes and Gardens Real Estate suggests that today’s and tomorrow’s homebuyers see the value and benefits of homeownership, and are approaching the process in a thoughtful, business-savvy way, thanks to easily accessible information and valuable lessons learned from housing industry events and trends of the past several years.

According to recently released national survey findings from Better Homes and Gardens Real Estate, 75 percent of echo boomers surveyed believe owning a home is a fundamental indicator of success. Those same respondents also believe they are more informed about homeownership than previous generations of buyers. More than three-quarters (77 percent) of the next generation of American homeowners surveyed believe they have become increasingly knowledgeable about homeownership due to increased media coverage on real estate topics in the wake of the housing crisis.

“We built our brand knowing that today’s consumer is the most informed we’ve ever seen,” says Chris. “That simple fact shapes everything we do at Better Homes and Gardens Real Estate. These survey results reinforce that the future is here and the empowered consumer is the new normal for our industry. Our brand offers tools and training to equip our brokers and agents with the ability to provide a more sophisticated level of service. We hope the learnings from our survey will help the industry at large understand the steps we all need to take to help this new generation of homebuyers find success.”

A More Knowledgeable Consumer

At the age of 24, Drew Wagner chose Better Homes and Gardens Real Estate The Beach Company to assist him in buying a home in Mount Pleasant, S.C.

“Seeing how the economic crisis affected my friends and relatives made me approach homeownership in a very deliberate, measured way. I did my research and worked hard to understand all the implications—both positive and negative—to ensure that I would have the resources and insight to support my decision,” he says.

Miguel Berger, broker and owner of Better Homes and Gardens Real Estate Tech Valley, has experienced firsthand the influx of a more knowledgeable consumer in upstate New York.

“Young homebuyers are very active in our real estate market right now,” explains Berger. “They know the proper questions to ask and have been researching the entire process, including agent selection, for three to four months before they even approach us.”

Contrary to how echo boomers are typically represented in the media, this next generation does not assume that homeownership will simply fall into their laps. The majority of survey respondents (71 percent) said that homeownership is not something they deserve; rather it is something they must earn. This has led young adults to carefully consider all of the implications of owning a home, including whether they are ready for the responsibility. Sixty-nine percent believe potential homeowners are ready for homeownership when they can afford to buy while also maintaining their lifestyle. For 61 percent of respondents, the “readiness indicator” is when they’ve landed a secure job. These statistics support Chris’s platform of the informed consumer, and help to debunk myths about the echo boomers as entitled consumers who want the quick win.

“It was important for me to feel ready,” adds Wagner. “I truly believe that buying a house is the ‘American Dream’ on many levels, including personally and financially, however, I needed to be sure I was capable of meeting the commitment and all that came with it—head on. Owning a home goes beyond the transaction—I had to be sure I was ready to maintain it, make it my own, and still enjoy the lifestyle I was used to. Once I felt ready, I looked forward to the process.”

After spending more than a year researching the local real estate market and home values in his area, Javan Cheetsos, 31, worked with Better Homes and Gardens Real Estate Ventura Barnett Properties to buy his first home where he planned to raise his family in Santa Clara, Calif.

“I found the Santa Clara market to be much more competitive than I thought it would be,” says Cheetsos. “Other buyers seemed to be looking for similar types of homes in the same community, making it very important to work with an agent who understood how to make the right offers. This was one of the most important milestones of my life, and I know the research I put into the process helped create the best outcome.”

Not only are these young homebuyers conducting extensive research about the residential real estate market, they are also looking to save money, some in surprising ways. Those surveyed expressed a willingness to make significant sacrifices in order to save for a home. These include limiting vacations (45 percent), taking a second job (40 percent) and even moving back home with Mom and Dad (23 percent).

Andy Asbury, broker and owner of Better Homes and Gardens Real Estate Area Leaders, based in Minneapolis, Minn., has been seeing similar trends in his market. “We have seen a trend of first-time homebuyers living with their parents beforehand to build up the necessary down payment. Many of our younger clients have also told us they chose to move back home because they had been paying top dollar for a rental apartment and were tired of spending a significant amount of money on a property that they recognized had no upside potential for them.”

Recognizing that buying a home is one of the biggest investments of their lives, these younger homebuyers aren’t limiting their research to available properties and house specs. Of those surveyed, interest rates (58 percent), home prices in a desired neighborhood (59 percent), and the ability to secure a loan (51 percent) are the top areas of research conducted before buying.

“Prior to purchasing our home, my wife and I were very mindful of what we could afford and what our actual mortgage payment was going to be,” said Daniel Sheahan, 32, a first-time homeowner who bought a new four-story home with a rooftop terrace through Better Homes and Gardens Real Estate Gary Greene in Houston, Texas. “We went into this process with a knowledge and understanding of the housing market and, more importantly, all of the surrounding financial requirements.”

“We are seeing that next-generation homebuyers have been cautiously watching the market and deciding that now is a good time to enter,” explains Chris. “In my experience, this generation prides itself on being thoroughly educated when making big decisions. They also have greater access to informational resources than their parents would have had available.”

David Cooper, president and CEO of Better Homes and Gardens Real Estate Kansas City Homes, noted that younger homebuyers are more acutely aware of their budgets than previous generations, and agents need to ensure they are working within their budget. This could mean strengthening negotiating skills or even sharpening the creative eye on fixer-upper properties to help buyers envision how they could transform a house to meet their budget and lifestyle needs. This translates into the delivery of a service level that is higher than ever before. Agents who meet this challenge will see the benefits.

“There is no question that the next generation of homebuyers in the Kansas City market is becoming more conscious about the financial responsibility of owning a home,” Cooper says. “They are more willing to sacrifice other expenditures, such as eating out or buying new clothing, to help save for this important life goal. We work with young homebuyers every day, and we are accustomed to helping younger and first-time homebuyers find the right house that fits their budget and lifestyle.”

And lifestyles are more diverse than ever.

“There is a new landscape of consumers coming on the market,” Chris says. “Our agents understand that no two consumers have the exact same needs, so they must be fluid and increasingly knowledgeable to adapt accordingly. Consumers know what they want; it’s the agent’s job to satisfy their needs in a personal and efficient way.”

“In the next 30 years, the methods and tools that homebuyers use to learn about the housing market will continue to evolve, and we’ll always strive to be one step ahead of the trends to meet the needs of our agents and consumers,” says Chris. “Right now, social media is one of the most direct channels for consumers to access relevant information about home prices, communities and the financial implications of owning a home. Real estate professionals not only need to be using these platforms to communicate with homebuyers, but need to understand how to use these channels effectively, efficiently and confidently.”

For more information, please visit www.BHGRealEstate.com

 

 

John Marcotte

720-771-9401

Search all homes for sale @ www.boulderhomes4u.com

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Home Prices Expected to Rise at least 3.3 Percent Annually through 2017

March 23, 2013 by

Home Prices Expected to Rise at least 3.3 Percent Annually through 2017

home_prices_rising The housing recovery is expected to grow at an annualized rate of 0.6 percent through the third quarter of this year, then gain momentum and prices are projected to grow 3.7 percent between the third quarters of 2013 and 2014 until settling down to 3.3 percent annual increases over the next three years according to Fiserv, a financial services technology provider using data from the Federal Housing Finance Agency (FHFA).

Both home prices and home sales volumes increased steadily last year, making 2012 the first positive year for both prices and sales since the housing market crash, excluding gains induced by the home buyer tax credits in 2009 and 2010.

“Although some recent real estate activity has been speculative, it seems as if buyers have more realistic expectations about housing market returns after having lived through the largest housing market crash in U.S. history,” says David Stiff, chief economist, Fiserv.

“2012 was the first year since 1997 that the housing market has resembled something recognizable as normal. For the past 15 years, home price changes and sales volumes have either been boosted by a bubble mentality or crushed by crash psychology,” continues Stiff.

“Back in 1997, housing prices grew 3 percent, just below the 5 percent long-term average rate of appreciation. From 1998 to 2006, prices appreciated at levels above 5 percent, with double-digit price increases in many of those years. Then, after 2006, the market collapsed as euphoria turned to panic. It took until the end of 2011 before housing markets finally started to stabilize. The latest Case-Shiller results show a return to a historically normal pace of price appreciation in the last year.”

The recovery in home prices has been solid and broad-based. At the end of the 2012 third quarter, prices were rising in approximately 62 percent of all U.S. metro areas, compared to 12.5 percent in the same period a year ago. Average U.S. home prices increased 3.6 percent from the third quarter of 2011 to the comparable period of 2012. Many of the metro areas that suffered the most severe declines during the housing market crash enjoyed the highest price increases in that period.

 

For more information, visit www.realestateeconomywatch.com

 

John Marcotte

720-771-9401

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5 Inexpensive Home Updates to Complete before Listing Your Home

March 22, 2013 by

5 Inexpensive Home Updates to Complete before Listing Your Home

 There is no perfect formula for selling your home efficiently, but by following these five tips prior to listing you can increase your chances to close quickly at a higher price.

1.) Update your old garage door(s). Garage doors seem like a non-issue, but many times they make up a significant percentage of the front of a home. Because of this, they are one of the first things that buyers notice when they pull in the drive way. Replacing, or even just painting, these central fixtures will do wonders when it comes to instantly impressing perspective buyers and standing apart from your competition. The market has changed drastically since many of us purchased our homes here in town. I frequently hear buyers say that they have taken a house off their list because of the lack of curb appeal. This issue is especially important to people on busier streets, corner lots, or near a neighborhood eyesore. If you’re planning to upgrade your residential garage door and looking for good garage door repair or garage door spring replacement, contact a professional garage door opener repair contractor.

2.) Replace old windows. Outdated windows age a home significantly, and you can often upgrade standard windows to vinyl for a reasonable $300 per window. The average home has 8 windows, so this upgrade doesn’t cost nearly as much as you might think and it will make a huge difference to the value perceived by prospective buyers. Key point to remember is that when buyers view a home they love, if they see it has older windows, they consider it a time consuming and costly headache. First time buyers have never replaced windows and often dramatically overestimate the cost to cure this issue. By replacing pre-listing you an actually save money. A well priced, move-in condition home will sell for far more than one with windows in need of repair. And for the most versatile window glazed options, you can visit a good place like tripleglazedwindows.uk for more helpful info!

3.) Assess your floors . If you have hardwood flooring or even vinyl flooring like the ones at vinyl flooring Melbourne, it’s worth the investment to have them refinished considering buyers put an extremely high value on them; you’ll get the most bang for your buck if they are refurbished.

As per carpet cleaning smyrna ga, carpets should be shampooed and replaced if they are stained or look worn. You don’t need to spend large amounts of money on the highest grade or most modern name but something inexpensive and neutral will certainly bring you a return on the investment. Even the smell of new carpet will make buyers set your home apart from the comparable.

4.) Paint the trim. Learn why you should choose professional painting services in Dublin. If you can’t afford the daunting task of painting your entire house, painting just the trim will still make a big difference when it comes to curb appeal. Painting the whole house can be expensive, time consuming, and delayed by weather conditions; painting just the trim will give your home a fresher look. House painters Painters Pittsburgh PA reminds everyone that interior trim is equally as important.

5.) Update fixtures. Keep an eye out for sales at home improvement stores and replace outdated lighting, plumbing and hardware fixtures. Simple replacing lighting fixtures and knobs in the bathroom or kitchen can update the entire look of the room. You can find many modern brand name fixtures online on contractor supply websites by just searching for terms like sale faucets, sale plumbing fixtures etc.

Lisa Johnson Sevajian is Vice President of a real estate firm in Andover, MA.

Thank you, www.rismedia.com

I’m happy to come look at your home and offer my advise before you list your home.

John Marcotte

720-771-9401

Search all homes for sale @ www.boulderhomes4u.com

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Louisville, CO Ranked #1 Place to Live

March 21, 2013 by

MONEY Magazine Reveals Annual “MONEY’s 100 Best Places to Live in America”

 “MONEY” magazine has revealed the list of “MONEY’s 100 Best Places to Live in America,” highlighting small towns across the country with populations of 50,000 or less. For the annual cover-story, on sale August 19, MONEY looked for places with the optimal combination of job opportunities, fiscal strength, top-notch schools, safe streets, good healthcare, cultural and outdoor activities, and even nice weather.

MONEY’s editors write, “With the current state of the economy—and the dispiriting sight of the nation’s leaders endlessly battling about how to fix it—the phrase ‘small town’ conjures up images of a happier time. When unemployment wasn’t above 9%. When people didn’t stress out about home values. When school budgets weren’t under siege. Those were the days, right?”

Louisville, Colorado tops this year’s list at number one. Tewnty-three miles outside Denver, Louisville has a strong economy, stable housing and lots to do. Louisville has some of the lowest crime rates in Colorado and was also ranked No. 1 in 2009 when MONEY assessed places with populations of under 50,000. There are good jobs in Louisville in the tech, telecom, aerospace, clean energy, and healthcare space. Additionally, MONEY editors report that businesses are flourishing in the historic downtown district, writing, “This summer alone saw the opening of three restaurants, a rooftop bar, a coffee shop, a yoga studio, a gift shop, and two art galleries. And world-class outdoor recreation is a short drive away.”

MONEY’s 2011 top-ten list:

1. Louisville, CO [2]
2. Milton, MA [3]
3. Solon, OH [4]
4. Leesburg, VA [5]
5. Papillion, NE [6]
6. Hanover, NH [7]
7. Liberty, MO [8]
8. Middleton, WI [9]
9. Mukilteo, WA [10]
10. Chanhassen, MN [11]

For more best places to live, visit www.Money.com/BestPlaces

 

John Marcotte

720-771-9401

Search all Louisville homes for sale

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3 Tips to sell your home during this time of the year

March 20, 2013 by

3 Tips to sell your home during this time of the year

 As temperatures dip and fall settles in with the promise of winter ahead, home owners need to pay extra attention to certain details in order to set themselves apart from the competition.

1. Maintain your landscape. Flowers aren’t exactly flourishing this time of year but sellers should still make the most of what they have. Adding fall flowers like mums to your front porch or deck is always a nice touch. Seeking professional assistance to maintain a good-quality deck is always the best possible thing you could do. More importantly grass should be cut at least once per week and leaves should be cleared as much as possible.

2. Keep your house warm. Prospective buyers will be turned off by a cold house, not giving it the chance it deserves. Spend the extra money to make your home as inviting and comfortable as possible. Also keep in mind that you don’t want it to be too warm because bundled up buyers will be uncomfortable and your utility bills will sky-rocket. I’d recommend keeping the thermostat set in the upper 60′s.

3. Let in the light. If your showing is during the day, open blinds, windows and drapes. If not, turn on all the lights in the home and brighten darker rooms by placing spotlights behind the furniture.

Fall is a great time to sell your home because a lot of prospective buyers are hoping to make a decision before the holidays. Take advantage of the fall market by pricing your home correctly and working with a licensed and experienced agent.

Chobee Hoy, Owner of Chobee Hoy Real Estate Associates of Brookline, MA has 30 years of real estate experience.

John Marcotte

720-771-9401

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How Foreclosures Affect Your Credit Score

March 19, 2013 by

How Foreclosures Affect Your Credit Score

A foreclosure is damaging to your credit

A bank will foreclose on a home when the homeowner fails to make his mortgage payments and will initiate the foreclosure process when the owner has missed three monthly payments. A written letter is then sent out notifying the borrower that he is in default and has not fulfilled his mortgage obligations. If the borrower does not come up with the amount owed, the lender can sell the property at a public auction. A foreclosure can cause considerable damage to your credit history and decreases your credit report significantly. It will take you many years to restore your good credit.
Foreclosure lowers your credit score
A low credit score prevents you from getting favorable lower interest rates on any form of credit, including home and auto loans and credit cards. A borrower with a score below 600 can expect to receive mortgage interest rates that are several percentage points higher than someone with a score above 700. Lenders may even refuse to grant the borrower a mortgage at any interest rate.
Impact of foreclosure
The foreclosure procedure is usually preceded by late mortgage payments of up to 90 days, already reducing your credit score considerably. Predictably, the homeowner is probably also amiss at paying other bills due to his financial situation: he may also have collections or judgments against him. The foreclosure will reduce the homeowner’s credit report by about 100 to 150 points. The other late payments will damage the score even more.
A foreclosure remains for seven years
If you have had foreclosure proceedings filed against you, it will remain on your credit report for at least 7 years. After that, the foreclosure can only be removed from the report with a written request to do so to all the major credit reporting bureaus.
You can still buy a house
Homeowners are led to believe that once they have had a foreclosure they can never buy a home again. This is not true, as people can buy homes within a year of losing their foreclosed home. Higher interest rates will be imposed and a larger down payment might be required, sometimes as high as 20 percent. This is the time to turn to friends or family members for help if they are willing to be a second lien on the property.
Take care to re-establish your credit
Although most foreclosures stay on a homeowner’s credit report for seven years, it can stay on longer – up to 20 years – because it is part of the public record. Check carefully when you are trying to restore your good credit that the foreclosure has been removed.
Besides bankruptcy, a foreclosure lasts longer than any other item on your credit report. Re-establishing yourself as a good credit risk will take time and careful planning after a foreclosure.

John Marcotte

720-771-9401

Search Boulder foreclosure listings

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5 Things You Need to Know to Sell a Home That’s Underwater

March 18, 2013 by

5 Things You Need to Know to Sell a Home That’s Underwater

 More and more people are in over their heads when it comes to their home. In this tough economy, many have fallen behind on their mortgages and don’t know where to begin to rid themselves of the property that they can no longer afford.

1. Understand the process. A short sale is when a lender agrees to discount a loan due to an economic hardship on the part of the homeowner. Typically, a short sale is used to prevent a home from being foreclosed. Usually, a bank will allow a short sale if they believe it will result in a smaller loss than the expense required for foreclosing.

2. Compare it to foreclosure results. Foreclosure can be extremely damaging to an individual’s credit report and it can have long-term effects. Since we live in a credit driven society, keeping a good credit rating can save a family thousands of dollars in attractive finance rates for vehicles, home mortgages, and other large items. A negative credit report and poor score can affect everything you do from renting an apartment to buying a car.

3. Bankruptcy and its impact on your future. Filing for bankruptcy will consolidate your debt and can wipe out your liabilities, but it will not prevent an eventual foreclosure, it will only delay it. However, if all you need to do is delay a foreclosure and there is little to no other major outstanding debt which needs to be settled, then there are other methods which may be more suitable. Trying to conduct a short sale while in bankruptcy requires strategy and a plan. It is best to consult with a knowledgeable bankruptcy attorney prior to making any decision in order to gain the proper information and make an appropriate plan. If your home is the only debt that is creating an uncontrollable situation for you, a short sale option is likely your best bet versus a bankruptcy. If you have other debt you need resolved after filing bankruptcy, a short sale is still a necessity unless you don’t care about a foreclosure eventually being reported onto your credit.

4. Discover if you are qualified. Though the process differs based on individual, it is broadly understood that in order to qualify for a short sale, the seller/homeowner must show legitimate hardship. Common reasons include: death, divorce, loss of job, relocation, etc. As long as the property is inevitably headed towards foreclosure it will qualify for a short sale.

5. Consider the benefits. One of the major benefits of a short sale is that it ends the financial and emotional nightmare quickly. From the day a homeowner accepts a contract to the time the property will close can take up to 90-120 days. Losing one’s home is a painful process, but short sales can help families to decrease the time and frustration they spend in financial limbo, and it can help to maintain their credit and move forward into the future.

For more information, visit www.chicagolandshortsale.com/

 

John Marcotte

720-771-9401

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10 Ways to Get the Best of Winter When Selling Your Home

March 17, 2013 by

10 Ways to Get the Best of Winter When Selling Your Home

 If your home will be for sale this winter, it is important to master certain seasonal issues that are less significant or even non-existent at other times of the year. Here are 10 bits of sage advice from RE/MAX agents that can help put a “Sold” sticker on that yard sign.

“Make sure all the bulbs are working, and stock up on all the right bulbs for lamps and fixtures so burned out bulbs can be replaced immediately,” she advises. “Also, it’s a great idea to keep the lights on in the front of the house even if no showings are scheduled. People are always driving past the house, and keeping it lighted makes it look happy and welcoming.”

She also advises opening the drapes and blinds during the day to let in light and let visitors enjoy the view.

Provide Convenient Parking: It’s vital that buyers have a convenient place to park. They won’t want to walk very far in cold weather or be forced to climb over a snow bank to exit their vehicle. Because parking is often more restricted around condominiums, sellers should make sure their agent can pass along parking details to buyers.

Make It Easy to Enter: Winter showings can get off to an awkward start if prospective buyers arrive with snow or salt on their shoes.

“Make it easy for buyers to deal with their shoes when they arrive,” recommends Barbara Hibnick of RE/MAX Showcase, Long Grove, Ill. “Put a festive area rug at the front door for a great first impression and so visitors can wipe their feet. Have slippers or disposable booties available, along with a bench or chair, if there is room for one, where a visitor can sit and easily remove or put on their boots.”

Keep Odors Under Control: Any home tends to be stuffy in winter when windows are opened rarely. That can allow odors to build up, which can be a turn-off to buyers.

“Pet odors can be especially worrisome in winter,” says Mike Mondello of RE/MAX Synergy in Orland Park, Ill. “Use a room fragrance if needed, but nothing too strong, and I recommend that in winter sellers clean more often.” For example, change the cat litter daily, rather than every third or fourth day, or even consider using an air purifier.

If pets are in the house, consider setting the thermostat control so that the furnace fan runs constantly during the day to keep air moving through the house and dissipate odors. Also try to avoid strong cooking odors, especially if a showing is scheduled that day.

Cultivate a Festive Look: Appropriate decorations for Christmas and even St. Valentine’s Day help give a home a cheerful look during the winter months.

“I really believe that holiday decorations can help homes sell, but don’t go to excess,” suggests Starr Zook of RE/MAX On Track in Aledo, Ill. “Keeping small, decorative white lights on trees and bushes pretty much through the winter season is fine, but other decorations should be taken down quickly once the holiday passes.”

Don’t Ignore the Outdoors: Make a good first impression on buyers with a neatly maintained yard. Walks and steps should be kept clear, especially of snow and ice.

Look after Condo Common Areas: If the home you are selling is a condominium, your job as a seller may be relatively easy in winter, with no snow to shovel or yard work to worry about. However, that is only the case if your condominium association does its job well.

If the association isn’t doing it, the homeowner may have to take responsibility for keeping the entrance area and hallways clean. If the association isn’t getting snow shoveled promptly, consider buying some de-icing salt and sprinkling it judiciously around the building entry.

Don’t Roast Buyers: We all tend to prefer a specific temperature for our homes during the winter, but don’t blast buyers with hot air. Keep the temperature at a comfortable 65 degrees for all showings. Remember, buyers are likely to be wearing their coats even as they walk through the house.

Keep Seasonal Clothing under Control: “One major challenge of selling a home during the winter months is the overabundance of cold weather gear that must be stored,” says Mike Mondello. “A buyer doesn’t want to find the mudroom filled with boots or the hall closet overflowing with heavy coats. Shift some winter coats to another closet and put anything not needed in the closet into storage.”

To keep gloves and scarves from piling up in the front hall or mudroom, put a special container for them, such as a decorative chest, where the family typically enters the home.

Encourage Day Time Showings: A home shows to its best advantage during daylight hours, which are relatively scarce in winter.

“Encourage your agent to show your home before 3 p.m. and have it ready to show by 9 a.m. if you want the best results,” Granacki recommends.

Despite the special challenges of marketing a home during winter, there also are benefits, notes Laura Ortoleva, a spokesperson for the RE/MAX Northern Illinois real estate network.

“Buyers out looking at homes in December or January are, as a group, quite serious about buying. Therefore, sellers tend to benefit because each showing is more productive, and fewer showings are needed to sell the property,” she said.

 

John Marcotte

720-771-9401

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Buying a Home? Finally, Times Are Good!

March 16, 2013 by

Buying a Home? Finally, Times Are Good!

 Everyone knows that the housing market has been a little daunting for the last several years. Ups and downs, talk of good news and bad news, and a confusing amount of information about rising and falling mortgage rates has rendered the market all but inaccessible for a lot of prospective buyers.

Good news! Times are changing.

Whether you want to buy a home as your long-term residence or as an income property, things are looking up in the legality of process serving. Explore the best properties with iListers today! Your dream home awaits. Remarkably low mortgage rates are making houses more affordable than they have been in decades. Of course, lately, one of the greatest concerns facing you as a prospective homebuyer is whether you can secure that low rate mortgage in the first place. Lenders have tightened standards, requiring steeper down payments and stricter scrutiny of credit scores. But some economists think that might be changing as well. Do you have good credit? A down payment? A steady job? These are all factors that might play in favor of your ability to secure an attractive mortgage rate.

Conventional wisdom has long suggested that owning is better than renting. Renters have been viewed as “throwing money away” because they aren’t accruing equity in a property. However, with shifting interest rates and high property costs, in recent years, renting hasn’t necessarily been a bad option. As a result of the recent housing downturn, many prospective owners have been renting rather than buying. If you’re planning on buying a new property, hire an expert like a property solicitors they will help you process all the legal documents needed.

There is a shift going on right now as the market is trending in favor of buyers. House payments are becoming more affordable than any time in recent history. Homeowners can get more for their money: bigger houses for some—or smaller payments for those willing to buy more moderately.

Whether you’re in a position to buy a home you are going to settle into for the long term, or whether you’re looking for a profitable investment, due diligence is key. For investors, the recently popular practice of “flipping” a property should be approached with the greatest amount of caution, knowledge, and savvy. Now might not be the time to try to make money on a quick turnaround.

Investing in real estate has long been a profitable and rewarding endeavor. Just don’t forget to do your homework! You should also take the opportunity to call on an expert. Buying a home can be one of the most valuable investments of your lifetime, so, as you would with any other important decision, gather as much knowledge as possible and lean on the people with the knowledge to help. John Marcotte will be able to show you comparables. Most will have the inside scoop on the communities in addition to being able to point out any nuances that you might not easily find on your own, or through internet research. When interest rates are low and home prices are also low, it is a great time to buy!

Peggy Patenaude is a leader in real estate sales in the Andovers, an affluent suburb of Boston.

John Marcotte

720-771-9401

Search all homes for sale @ www.boulderhomes4u.com

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