Tips for a Successful Open House

By Paige Tepping

RISMEDIA, August 31, 2010--The Sunday real estate open house is a longstanding ritual in the real estate marketplace, and many homes have been sold on a lazy Sunday afternoon. When used properly, open houses can be a great marketing strategy.

According to the experts at Buy-and-Sell-House-Fast.com, the following steps will help you get the most out of your real estate open house and increase your chances of selling your home for the price you want.

-Be sure to meet with your agent in advance of the open house. Discuss all the various details about what is involved in holding a successful open house. While many home sellers are comfortable with an open house, others are not. If you choose not to host an open house, there are other ways to sell your home.
-Be certain to go through the entire home with the real estate agent the day before the open house. Take careful notes and follow all of his/her recommendations.
-Try not to become emotionally involved when evaluating the condition of your home prior to the open house. Remember that your real estate agent is trying to make your home more appealing to potential buyers, not criticizing your decorating style or choice of accessories.
-Any needed home repairs should be completed before the open house begins. This includes things like peeling paint, loose stairs, banisters in need of repair and the like. It is crucial that guests see a home that is in immaculate condition.
-Never underestimate the importance of making a good first impression. Many visitors make a decision about the home in the first few seconds. Be sure the entranceway to the home is immaculate, and that the steps leading up to the home are well swept and free of debris.
-Ask the real estate agent to create a professional-looking sign in sheet for all visitors. It is important to get the name and phone number of all attendees to the open house.
-Always discuss the price of the home prior to the open house. This will allow the agent to negotiate the price on the spot if a good prospect attends.
-Be sure to consider unusual ways to market your open house. For instance, if you belong to any special groups or organizations, be sure to market the upcoming open house to the members. For instance, the local garden club may be very interested in attending an open house that includes a beautiful outdoor garden.
-It is a good idea to provide cookies, brownies or other snacks for guests at the open house. A punch bowl is also an attractive addition.
-Pets should be kept away from open house visitors. It may be a good idea to have a friend or family member takes care of your pets until the open house is over.
-Be sure to lock up all medications, both prescription and non-prescription. Also be sure to lock up any cash or valuables in the home prior to the open house.
-Make sure that the home is spotless and free of unpleasant odors prior to the open house. You may want to bake a fresh batch of cookies an hour or two before the open house begins. Not only will the aroma mask any unpleasant smells, but it will create a warm and inviting ambiance as well.
-Be sure the temperature in the home is pleasant. A home that is too hot or too cold can make visitors uncomfortable, and lead them to wonder about the quality of the heating and air conditioning system.
-Play soft music in the background during the open house. Background music helps set a good mood for visitors.
-Always open the curtains and the drapes prior to the open house. This will allow fresh air and sunshine in and help give the impression of a larger space.
-If your home does not have plants, you may want to buy a few before the open house. Plants can provide a warm feel and help make guests at the open house feel more at home.

Following the guidelines outlined above, chances are your public open house will be a big success. Even if the home is not sold at the open house, the prospect contacts gained and the word of mouth exposure may well result in a sale.

It's About the Basics: 7 Tips for Selling Your Home

Tuesday, Aug 24th, 2010
	Brought to you by and sponsored by

It's About the Basics: 7 Tips for Selling Your Home By Stephanie Andre RISMEDIA, August 23, 2010—Since the housing boom ended and the market began to shift, the phrase “going back to basics” has been tossed around quite frequently. From the way agents handle their business to the way they communicate with clients, the phrase has gotten quite the workout. But what about consumers? They were caught up in the housing boom as well…with homes selling in a day, sometimes a few hours. Getting back to basics seems like something simple that sellers should look at as well. It might just mean the difference between selling within a month and selling within a year. Here are some basic tips from State Farm on selling a home: Set your price carefully Too high and buyers may not consider it, too low and you're selling yourself short. Agents often give a free home market analysis if you ask. This gives you an idea of how your home compares financially with similar, recently sold homes in your area. The analysis may also include how much you might expect to earn after closing. Don't do major remodeling Don't break the bank preparing your home for sale. Pricey items such as a new roof may be big hits with buyers, but rarely does the buying price end up covering the payout for such costly home improvements. When possible, stick with the simpler (and less expensive) options rather than major remodeling. Make a good first impression Curb appeal is important. Keep your lawn and other landscaping neatly trimmed, weeded and watered. Check the exterior of your home for signs of wear and damage, such as peeling paint, foundation cracks or loose shingles, and fix what is needed. Clean the outside of the house, including windows. Many people suggest giving the front door a fresh coat of paint for that warm, welcome feeling. In addition, adding a few flowers in the spring and summer, or keeping the walks cleared of leaves and snow in the fall and winter can be inviting to potential buyers. Clean! The obvious seller's commandment: thou shalt clean. Remove all clutter from every room, including closets. Organize your basement and attic. Have a garage sale with all the stuff you don't want to move to your next home! Wipe down and paint walls and trim if necessary. Many people advocate repainting with a neutral color palette to appeal to a wider range of potential buyers. Clean all windows, light fixtures and ceiling fans. Bathrooms should always be squeaky clean. Inspect and make any necessary repairs to the plumbing, heating, cooling and electrical systems. Highlight the bath and kitchen by selecting some attractive new towels, curtains or cabinetry knobs. And keep it clean Maintain the new and improved interior and exterior of your home until you successfully sell. It's hard, but it's necessary. A professional cleaning service may be able to help maintain the new clean look with occasional visits. Light it up When showing your house, provide plenty of light and make your home a warm, welcoming place. Open the curtains to let in the sunshine. In the event of an evening showing, make sure you have ample lighting available in all areas. Fresh cut flowers make a nice addition, and a pleasantly scented house is very inviting. Go away Many agents and potential buyers would prefer that the seller not be present during a showing, to avoid limiting the buyers' conversation or making them uncomfortable. Children and pets should also be absent or out of the buyers' way during a showing, if at all possible.

Vacant Homes Pose Insurance Risks

Saturday, Aug 21st, 2010
	Brought to you by and sponsored by

Vacant Homes Pose Insurance Risks RISMEDIA, August 21, 2010--As the U.S. housing market struggles to rebound, many homeowners are stuck with hard-to-sell properties longer than expected. Some frustrated home sellers who must relocate for a new job opportunity, want to downsize or simply want to buy a new place have left homes empty. Vacant or unoccupied homes can leave the homeowner exposed to loss and liability that may not be covered by their insurance, according to the National Association of Insurance Commissioners (NAIC). The Pending Home Sales Index, released today by the National Association of Realtors, dropped 2.6 percent to 75.7 based on contracts signed in June from 77.7 in May, and is 18.6 percent below June 2009 - another sign of the stagnant housing market. "In many cases, people who have been trying to sell their homes for awhile have moved forward with their plans regardless, leaving a vacant home on the market," said NAIC President and West Virginia Insurance Commissioner Jane L. Cline. "Having an unoccupied home can create several insurance implications that typically are not covered under a standard homeowners policy." The Added Risks of Vacant Homes Homeowners policies are meant to insure homes that are occupied, so they generally include exclusions for neglect or property abandonment on a home left vacant or unoccupied for a specified number of consecutive days. In insurance terms, a vacant home is one the resident has moved out of and taken his/her belongings with him/her. An unoccupied home is one where the resident is not staying at the home, but the furniture and other belongings remain. Because vacant and unoccupied homes pose a higher risk for damage than occupied homes, insurance companies insure these properties differently and usually at a higher price. These risks include: -- Break-ins: When a home has been unoccupied for awhile, it can show signs that nobody is around - unkempt lawn, full mailbox, no lights on - that can tip off burglars to an easy target. -- No emergency response: Without anyone home to call 911 or respond to emergencies, a manageable problem - such as a small electrical fire - can turn into a much larger, more costly disaster. -- Property liability: There is no one present to prevent others from entering the property or to supervise activity, which could increase the likeliness of an accident on the premises or property damage when the owner is not there. Keeping A Vacant Home Properly Insured The definition of vacancy and unoccupancy can vary from policy to policy. Some insurers may not pay claims if a home is vacant for 60 days or more. Some policies might automatically shift to a different amount of coverage (e.g. liability insurance only) after a specific number of days unoccupied. Many homeowners policies have a "vacancy clause" that can be triggered if the homeowner is gone for an extended period of time. If this happens, the homeowner could violate the terms of their contract and some or all of their coverage may not apply in the event of a loss. "Before you decide to leave a home vacant or unoccupied for a long period of time, talk to your insurance agent or company to learn how they define vacancy and unoccupancy, and whether the company will pay claims if a house is unoccupied," said Cline. "Be honest about your situation, because while an extra policy might cost more, it could save you money down the road should there be an accident or damage to the home." Many insurance companies offer an endorsement that will provide coverage for a dwelling that is unoccupied for an extended period of time. Vacancy policies can also be purchased for different term lengths to cover a few months to a year, depending on the need. The cost of vacancy coverage depends on the company and state in which the property is located, but costs usually are higher than a typical homeowners policy due to the overall increase in risk.

Distress Homes Multiply on Market, but Buyers Find No Easy Sales

Brought to you by and sponsored by

Distress Homes Multiply on Market, but Buyers Find No Easy Sales By David Bracken RISMEDIA, August 20, 2010--(MCT)--When Josh and Amanda Brandt began looking for their first house this year, they wanted what every buyer wants. "What we really wanted was a good deal," Josh Brandt said. The first house they found was in Fuquay-Varina, N.C. It was a short-sale, meaning the owner was trying to sell it for less than the amount owed to the bank. After the Brandts submitted a low-ball offer of $120,000, the owner of the house asked them to increase their offer to $129,000. They did. Then they kept house-hunting because their real estate agent, Millicent Williams of Century 21 Vicki Berry Realty, warned them that they needed a back-up plan in case the bank rejected their offer or simply took too long to get back to them. Three weeks later, just as the Brandts were about to close on a brand-new house in Angier, N.C., the bank accepted their offer. "We got pretty lucky," said Josh Brandt, 24. Among the byproducts of the housing bust has been a dramatic rise in the number of distressed homes on the market. Many buyers assume these properties are can't-miss deals, but the reality is that purchasing a distressed property is often fraught with uncertainty and risk. The numbers of foreclosures and short-sales have increased as the act of losing one's home has lost the stigma it once carried. "Foreclosures are actually getting artificially inflated to a point because people are willing to walk away," said Mike Golden, broker in charge with Century 21 Vicki Berry Realty. "Especially by people who don't have any equity because they bought in and got 100 percent financing." Buying a house out of foreclosure or in a short-sale is not for everyone. Most of the homes will require some work, but unlike with a normal sale, negotiating repairs is often not an option, said Jeanna Reeves, a Re/Max United agent in Raleigh who has offered foreclosure tours for buyers in the past. "They are sold as is," Reeves said. Earlier this year, Reeves took one of her clients, Meg Lavoie, to look at a townhouse in North Raleigh that Fannie Mae had foreclosed on in February. Lavoie is hoping to buy a foreclosed property that she can turn into a rental. The North Raleigh townhouse had ratty carpeting, and it was clear the previous owner had owned a dog. Lavoie wasn't impressed. "I don't want a big hole that I'm throwing money in," she said. "I don't know. It just doesn't speak to me." Lavoie is in no hurry to buy, which makes a foreclosure or a short-sale a good fit. Any buyer putting an offer on a house being sold as a short-sale should be willing to wait at least two months without knowing whether the bank will accept the offer, said Dave Jezierski, a real estate agent with Homes in the Triangle. Jezierski said it's crucial that the agent listing the property is familiar with short-sales and knows what he or she is doing, otherwise the process can drag out even longer. As for the perception that a buyer will be able to get a property for a huge discount in a short sale, Jezierski said that's largely not true. When a bank agrees to sell a house in a short sale, it usually does its own appraisal. Jezierski said the bank isn't likely to accept an offer that is significantly below what the appraisal says the house is worth. "Unless the house is just pretty well trashed, it's going to be within 5 percent of market value," Jezierski said. (c) 2010, The News & Observer (Raleigh, N.C.). Distributed by McClatchy-Tribune Information Services.

Is Your Deck Safe for Labor Day Revelry?

Tuesday, Aug 17th, 2010
	Brought to you by and sponsored by

Is Your Deck Safe for Labor Day Revelry? By Debbie Arrington RISMEDIA, August 17, 2010--(MCT)--Is your deck, balcony or patio ready to party this upcoming Labor Day? According to the Home Safety Council, 83 percent of all American homes have some sort of outdoor living space such as deck, porch, patio or balcony. But an estimated 20 million decks nationwide may be in danger of collapse. In the last 15 years, more than 900 people have been injured, and at least 20 people killed by deck disasters in the United States, the nonprofit council reports. Here are five signs that your deck may need attention: 1. Missing connections: Most decks are designed to last 10 to 15 years, and nails alone won't hold them up forever. Check the metal supports and connections to ensure they're strong and in place, especially along the ledger — where the deck connects to the house. 2. Loose connections: Are the railings wobbly? Any stairs loose? They should be repaired immediately. 3. Rust: Metal hardware such as connectors, nails and screws may corrode over time. Look for rust spots and replace corroded hardware. 4. Rot: Soft wood — a sign of rot — won't hold under stress. If you can push a screwdriver into a board, replace the board. 5. Cracks: Wood often cracks over time and weakens the structure. Deck boards or posts that develop large cracks should be replaced. For more tips, click on www.homesafetycouncil.org or www.safestronghome.com. (c) 2010, The Sacramento Bee (Sacramento, Calif.). Distributed by McClatchy-Tribune Information Services.

5 Great Tips to Close the Deal

Sunday, Aug 15th, 2010
	Brought to you by and sponsored by

For Your Clients: 5 Great Tips to Close the Deal By Paige Tepping RISMEDIA, August 14, 2010--In a tough real estate market where competition for buyers is high, sometimes the seller has to ‘sweeten the pot’ to get the deal done. Here are five creative ideas from Realtor Vicki Walker to help close the deal. 1. Offer a Decorating Allowance There may be a buyer that likes your home but just has different decorating tastes. To seal the deal, offer a decorating allowance (for painting, new carpets or wallpaper). You can offer cash at closing, or put money in escrow to reimburse decorating and remodeling expenses made within 90 days of closing, up to a maximum amount. 2. Do a Pre-Sale Inspection This actually works for both the seller and the buyer. By having a whole house inspection done before listing the house, you get a chance to address any issues before prospects see the home. That means you increase the homes saleability. Display the report during open houses and highlight the repairs that have already been addressed. It's like seeing the repair history when you buy a used car; it makes you feel better about making an offer because you know the car is in good shape and exactly what has been repaired in the past. By having the home inspected before listing it, people don't have to guess what kind of condition it is in, they can see it in writing. 3. Offer a Home Warranty A home warranty reassures the buyer that the property is in top condition and gives them comfort knowing that certain future repairs will be covered by insurance. Buyers fear that as soon as they buy the house the dishwasher, dryer, or stove will go on the fritz. A home warranty is an inexpensive way to offer peace of mind to the buyer. 4. Cover Closing Costs Sometimes it takes a little nudge to close the deal. You can offer to pay the buyers half of title and escrow fees, or pre-paid interest charges. Paying the points on the loan may also be a tax deduction for you. Many lenders may limit how much of the closing costs you can pay, but if the buyer is short of cash, offering to pay some closing costs can make a difference. 5. Offer Seller Financing There are many ways to offer seller financing. Options include putting funds in escrow to cover several months of mortgage payments, buying down the mortgage rate, or carrying a second mortgage to cover the down payment. It is wise not to offer seller financing unless you have consulted a real estate attorney and your real estate agent. Make sure that the buyer has good credit. Although this is the least attractive option to the seller to get a deal closed, sometimes it takes creativity and going the extra mile to get your home sold.

LowesRealtorBenefits.com

LowesMoving.com

Lowes.com

RISMedia.com

Monday, Aug 2nd, 2010
	Brought to you by and sponsored by

For Your Clients: Avoid Decorating Faux Pas by Featuring Space Properly By Mary Madden RISMEDIA, August 2, 2010--(MCT)--One of the mysteries of space — we're talking real-world living space, not the cosmos — is that perfectly sound logic often leads to an illogical aesthetic. We all occasionally make cringe-worthy decorating mistakes. (I once purchased a sofa, custom-ordered from a tiny swatch, that more closely resembled neon green than the crisp, fresh celadon I had envisioned.) Three common design mistakes involving scale, balance and proportion come to mind. Fortunately, they have quick and easy fixes. Draperies flush to windows: Hanging draperies flush with the top of the window seems logical, but the effect is that it gives the appearance of shortening the window and lowering the ceiling. Just as a well-tailored pair of slacks can give your legs a longer, leaner look, draperies hung closer to the ceiling can add height to your room. Just like those slacks, draperies should be long enough to brush the floor — an inch longer if you prefer a slightly more relaxed look. Hanging draperies flush with the sides of the windows is similarly limiting. By extending the rod past the window, you allow the drapery panel to cover more wall than window. This creates a widening effect to the room while allowing for more natural light. Even if you are like most homeowners, who will seldom, if ever, close the drapery, be sure to purchase enough fabric to make the panels at least appear to be full enough. It's important that the side panels are in proportion to the width of the window. I also feel it is always best to have lined draperies, unless you're going for a sheer look. Lining gives the drapery more volume and a more custom, finished look. Floating artwork: Although it seems to make sense to center artwork on the wall, pieces hung too high are difficult to view and make a room look off balance. Artwork placed at eye level (generally 50 to 57 inches above the floor) creates a more pleasing balance. It serves as a visual anchor for other objects along the same wall, giving the whole area a cohesive look. Artwork, unless it is a commanding piece that deserves exclusive space, looks best with a foundation beneath it. The foundation can be a sofa, sideboard, chair or mantel. In general, 6 inches from the top of a surface is a good place to start. In a room with a soaring ceiling, artwork may need to be up to one foot above the back of a sofa to maintain proper balance in the room. In one of those great little areas where you sit to read, for example, a piece can be tucked into a spot much lower than you would consider your eye level. Remember to consider whether you're walking through the room or sitting in the room when determining eye level. The scale of the artwork should also be considered. For example, a postage stamp in the middle of a large wall creates visual disharmony. It is better to incorporate smaller pieces into a grouping, and treat the grouping as a single piece of art. Undersized rug: Never underestimate the power of a rug — and remember that size matters. A rug offers practical, as well as decorative, possibilities. Your rug creates the footprint and defines the living space for an entire room, so avoid the common mistake of choosing an undersized one. A room-size rug should allow for a maximum of 10 to 18 inches of floor space from the edge of the rug to each wall or to the end of the room's area. Smaller rugs placed beneath furniture, such as coffee tables, should be large enough to allow gracious space extending out beneath at least the front legs of all furniture in the grouping. For a rug beneath a dining table, make sure it is large enough to extend at least two feet past the table on all sides so that the chairs stay on the rug when diners pull away from the table. For example, you would need a rug of at least 8 by 10 feet for a 4-by-6-foot dining table. (c) 2010, The Kansas City Star.

--
Frank Gleason
Southern Homes Realty
(205) 572-2557
FRANKSOLDIT@GMAIL.COM
FRANKSOLDIT.COM
MYBLOGSPOT