Northern Kentucky Home Sales

hThings You Need To Know When Buying A House - 9

2011-12-09T11:42:00.001-05:00

9. Do your homework before bidding.

Your opening bid should be based on the sales trend of similar homes in the neighborhood. So before making it, consider sales of similar homes in the last three months. If homes have recently sold at 5 percent less than the asking price, you should make a bid that's about eight to 10 percent lower than what the seller is asking. This is not an ironclad rule. Seek the advice of an experienced, reputable, Realtor that can give you the information you need to make a well informed decision.

Bob Abner (Huff Realty) is a well-respected, top Realtor in the Northern Kentucky/Greater Cincinnati real estate market with vast experience in the real estate industry. For Northern Kentucky Real Estate Listings and Home buying and selling Information visit: http://www.BobAbner.com

Things You Need To Know When Buying A House - 8

2011-12-08T11:40:00.001-05:00

8. Before house hunting, get pre-approved.

Getting pre-approved will you save yourself the grief of looking at houses you can't afford and put you in a better position to make a serious offer when you do find the right house. Not to be confused with pre-qualification, which is based on a cursory review of your finances, pre-approval from a lender is based on your actual income, debt and credit history.

Things You Need To Know When Buying A House - 7

2011-12-07T11:36:00.001-05:00

7. Choose carefully between points and rate.

When picking a mortgage, you usually have the option of paying additional points -- a portion of the interest that you pay at closing -- in exchange for a lower interest rate. If you stay in the house for a long time -- say three to five years or more -- it's usually a better deal to take the points. The lower interest rate will save you more in the long run. Right now interests rates are at an unprecidented low. If you are in the position to buy now, you will be able to save yourself tens of thousands of dollars over the life of the loan by qualifying for a low interest rate.

Things You Need To Know When Buying A House - 6

2011-12-06T11:33:00.001-05:00

6. Get professional help.

Even though the Internet gives buyers unprecedented access to home listings, most new buyers (and many more experienced ones) are better off using a professional agent. Look for a real estate agent who is very familiar with the area you are interested in and who will have your interests at heart and can help you with strategies during the bidding process.

Things You Need To Know When Buying A House - 5

2011-12-05T11:29:00.001-05:00

5. Buy in a district with good schools.

In most areas, this advice applies even if you don't have school-age children. Reason: When it comes time to sell, you'll learn that strong school districts are a top priority for many home buyers, thus helping to boost property values.

Things You Need To Know When Buying A House - 4

2011-11-04T11:00:00.001-04:00

4. If you can't put down the usual 20 percent, you may still qualify for a loan.

There are a variety of public and private lenders who, if you qualify, offer low-interest mortgages that require a down payment as small as 3 percent of the purchase price.

Things You Need To Know When Buying A House - 3

2011-11-03T11:00:00.001-04:00

3. Aim for a home you can really afford.

The rule of thumb is that you can buy housing that runs about two-and-one-half times your annual salary. But you'll do better to use one of many calculators available online to get a better handle on how your income, debts, and expenses affect what you can afford.

Things You Need To Know When Buying A House - 2

2011-11-02T11:01:00.001-04:00

2. Start by shoring up your credit.

Since you most likely will need to get a mortgage to buy a house, you must make sure your credit history is as clean as possible. A few months before you start house hunting, get copies of your credit report. Make sure the facts are correct, and fix any problems you discover.

Things You Need To Know When Buying A House - 1

2011-11-01T11:00:00.001-04:00

1. Don't buy if you can't stay put.

If you can't commit to remaining in one place for at least a few years, then owning is probably not for you, at least not yet. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner - even in a rising market. When prices are falling, it's an even worse proposition.

Keep Pets Save With Microchipping

2011-10-28T19:30:00.001-04:00

Remember Willow, the calico kitty who went missing from her Colorado home, then was miraculously found five years later in New York City? She has to be one of the luckiest felines in the world. Due to the Squires family’s very astute decision to have her micro-chipped, they have been reunited and one very happy kitty has been returned home.

Many pet owners fear pets going missing. This can easily happen when you move across town or across the country. According to Home Again, the nationwide petID and recovery service, one in three pets will become lost during their lifetime, and sadly, 90 percent of them will never return home without identification. Home Again is the micrchip company that powers our two Great Danes, Marley and June Bug microchips.

Even though responsible animal owners collar their pets with identification information, collars can fall off, becoming discarded by the animal, or, much worse, be removed if the animal is stolen. External devices fall short in providing permanent identification information. What is even more alarming; there has been a 32 percent increase in the theft of pets from 2010 to 2011, according to The American Kennel Club. Micro-chipping is the only permanent, reliable method, since it cannot be altered or removed and has a unique code that links the animal back to its owner.

Every day pets become lost and will never see their family again because they didn’t have a simple, yet effective tool to reunite them with their family. However, inserting a microchip is the simplest and most important step a pet owner can take to ensure that a lost pet returns home safely. I believe every pet should be micro-chipped, and right now, not enough pets are protected—it should be as common as a collar or ID tag.

How does micro-chipping work? Since the microchips are no larger than a grain of rice, they are implanted by a veterinarian using a hypodermic needle. This simple procedure is similar to giving the animal a vaccination. Since the discomfort pets may experience is about the same as a "shot," veterinarians rarely use local anesthesia.

The micro-chipping procedure is quick and safe and can be done at a local vetinarian hospital. This inexpensive and permanent device is the best hope a pet owner has of protecting a lost or stolen pet. I think it cost Lori and I somewhere between $35 and $50 to have each of our dogs microchipped. Check with your vetinarian for their cost, it is money well spent as far as I am concerned.

Included in the Home Again microchip is lifetime registration, permitting the pet owner to update their contact information, if necessary, at no additional charge. Provided is a tag with instructions if the lost pet is found. Make sure your pet undergoes a routine microchip scan during every hospital visit to verify the emission by its actual owner.

What are your thoughts about micro-chipping? Share them in a comment.

How to Make Moving With Pets Easier - Part 4

2011-10-27T19:30:00.001-04:00

Settling In

While you and your family may be excited about your new habitat, your pet may feel confused or disoriented and will take some time to adjust to their new surroundings. Be patient and offer lots of love and affection to soothe their nerves.

You might want to purchase pheromone diffusers -- often helpful in calming both dogs and cats. The diffusers are available at most pet supply stores.

Cats: For the first few days, your cats will benefit from being confined to a single room while you organize the rest of your home. Unpack their bedding, toys, food and water dish and litter box and consider a window perch for them to enjoy the new view. After a few days, introduce cats to one new room at a time, always reminding them where the litter box is located.

Dogs: Ideally, introduce dogs to a new home when furniture is in place. Let them become familiar with one room before introducing to another. This can take a few days, but will ease your dogs' nerves and prevent a frightened escape. And when taking your pet outdoors, keep him or her on a leash.

Choose a new veterinarian for your pet as soon as possible! Talk to neighbors or contact the local veterinary association for help. Also, find the nearest emergency veterinary hospital and take a practice drive to find it so you don't waste precious time in a crisis.

With your love and assurance, your pet will soon adjust to your new abode. After all, for pets, home is where you are!

How to Make Moving With Pets Easier - Part 2

2011-10-25T19:30:00.001-04:00

As i mentioned yesterday, our Danes had a hard time adjusting to our move. Here is a tip that you might want to try to help your furry friend adapt to their new environment a little easier. It actually begins before you move them. Something we did not do.

Before the move

Begin packing well in advance so your pet becomes accustomed to changes in their environment.

If your routine will alter after the move, gradually alter it before the move.

Therefore, change play times and walk times a bit. If your move will take you from an urban environment to a suburban or rural one (or vise versa) introduce your pet to new environs and assess their response.

If you have concerns about how your pet might react to these changes, consult with a veterinary behaviorist to develop a treatment plan for your pet.

As soon as you know your new address, purchase new identification tags for each pet. If your pet is microchipped, call the microchip manufacturer to update the database with your new contact information.

It never occured to us until reading this tip that we have not changed our dogs microchip information. Luckily it is connected with our vetinarian. This is on our to do list today.

How To Make Moving With Your Pet Easier - Part 1

2011-10-24T19:30:00.001-04:00

When Lori and I moved into our new home about three years ago, we did not realize how moving our entire environment would effect our two Great Danes, Marley and June Bug. It was very difficult for them, especially Marley (the princess). There were no familiar smells, everything was different. She was not herself for several months. If we had known we certainly would have taken much more care in their transition to their new home.

A new home is a stressful change for most pets. Learn how to make moving a smooth transition for your pets.Moving is clearly among the most stressful changes in life for us humans. Imagine what pets are thinking when 'home sweet home' is packed up and hauled off, only to reappear on strange new turf!

"The environmental changes, alterations in social structure and variation in routines can be very disconcerting for your pet," explains one vetinarian behavior expert. "All these changes can make a pet feel insecure and anxious".

So during this hectic time, be careful not to overlook the needs of your furry, finned and feathered friends. Planning is key in for a smooth transition.

How to Make Moving With Pets Easy - Part 3

2011-10-24T10:59:00.001-04:00

Moving Day & Travel

Be sure your dog or cat is wearing their collar with new ID tags on moving day. When the movers arrive, secure pets in a quiet room, away from the main traffic areas to prevent them from escaping. Be sure to alert each mover and family member that the room is off limits.

Time to hit the road? Whether transporting your pet by plane, train or automobile, talk to your vetinarian for advice on how your pet can make the trip most comfortably. For air travel, allow ample time to make arrangements and meet all air travel guidelines.

Resourses To Help Consumers Shop For The Best Mortgage

2011-10-21T11:16:00.001-04:00

The National Association of REALTORS® (NAR):

For information on NAR’s Housing Opportunity Program, go to www.REALTOR.org/HousingOpportunity.

The Center for Responsible Lending (CRL):

For information about predatory mortgage lending practices, including “The Seven Signs of Predatory Lending,” go to www.ResponsibleLending.org.

Other brochures to help consumers shop for the best

mortgage:

• NAR and CRL have issued two other brochures:

• “Specialty (Non-Traditional) Mortgages: What Are the Risks and Advantages?”

• “Traditional Mortgages: Understanding Your Options”

• NAR and the Federal Housing Administration of the U.S. Department of Housing and Urban Development have issued a brochure on “FHA Insured Mortgages.” FHA mortgages provide a safe and affordable option for homebuyers. You may view, download, and order these brochures. Go to: http://www.realtor.org/housopp.nsf/pages/mortgages?

Fannie Mae: “For Home Buyers & Homeowners”

at www.FannieMae.com.

Freddie Mac: “Buying and Owning a Home”

at www.FreddieMac.com.

Ginnie Mae:

For a simple calculator to help homebuyers estimate how much they can afford to spend, read “How Much Home

Can You Afford?” at www.GinnieMae.gov.

HUD Housing Counselors:

For a list of counseling agencies, by state, approved by the Department of Housing and Urban Development (HUD),

go to www.hud.gov/offices/hsg/sfh/hcc/hccprof14.cfm.

Credit-reporting agencies:

• Equifax 800.685.1111 www.equifax.com.

• Experian 888.397.3742 www.experian.com.

• TransUnion 800.916.8800 www.transunion.com.

Go to www.annualcreditreport.com to ask for a free copy of your credit report, once a year, or call 877.322.8228.

If The Loan Is An Adjustable Rate Mortgage (ARM) Ask:

2011-10-18T11:00:00.001-04:00

• What is the initial rate?

• How long will that rate stay in effect?

• How is the adjusted interest rate determined? (Generally, a specified amount—the “margin”—is added to a current published rate—the “index.”)

• How often can the rate change?

• How much can the rate go up each year and over the life of the loan? What is the maximum monthly payment you could be required to pay? Would you be able to afford it?

• Does the loan set a minimum interest rate?

• Do the monthly payments gradually decrease the amount you owe even if interest rates increase? (With some loans, the amount you still owe can increase rather than decrease each month—called “negative amortization.”)

• Does the interest rate increase if your payments are late?

• Could you qualify for a loan with the maximum interest rate permitted under the mortgage? If not, do you anticipate earning more in the future so you will be able to afford the higher payment?

• Can the adjustable rate mortgage loan be converted (changed) to a fixed rate without refinancing into a new loan? Is there a charge to convert?

Shop For The Lowest-Cost Loan

2011-10-17T11:00:00.001-04:00

REALTORS® develop relationships of trust with the families they serve, and can help you avoid predatory loans by

encouraging careful shopping. Ask these important questions:

• What is my credit score? Can I have a copy of my credit report?

• What is the best interest rate today? Do I qualify?

• Is the loan’s interest rate fixed or adjustable?

• What is the term (length) of the loan?

• What are the total loan fees?

• What is the total monthly payment? Does this include property taxes and insurance? If not, how much will I need each month for taxes and insurance?

• Is there an application fee? If so, what is it, and how much is refundable if I don’t qualify?

• Are there any prepayment penalties? If so, what are they and how long do they last?

Beware of Predatory Loans!

2011-10-13T11:00:00.001-04:00

For most families, buying a home is the biggest and smartest purchase they ever make. One of the keys to success is getting an affordable home loan with fair terms and reasonable costs. Unfortunately, home buyers need to be aware that some loans are not in their best interest. When loans hurt instead of help, they can quickly lead to foreclosure and even bankruptcy.

There is no single definition of predatory lending, because the term covers a wide range of abusive practices. Some practices may be predatory for one borrower but not for another, because everyone’s circumstances are different. Predatory lenders often take advantage of first-time homebuyers and others who may be vulnerable to high-pressure sales tactics.

I can provide information about predatory lending, refer clients to reputable lenders, and encourage families to make informed decisions about how to finance their homes. Responsible lenders play a vital role in helping families achieve homeownership, but consumers need to make sure they are not dealing with a predatory lender. Some unscrupulous lenders are only interested in taking as much money as possible, and are not concerned about whether loans are affordable, sustainable, and truly helpful to home buyers and homeowners.

Remember the old saying, "if it sounds too good to be true, it probably is!"

Salvaged Building Material Savings - Working With Salvage

2011-10-12T11:00:00.001-04:00

Working with salvage

To effectively integrate salvaged items, Arne Mortensen, owner of Mortensen Design/Build in Seattle, recommends choosing a contractor who has a particular interest and experience in working with recycled building materials. Salvage yard staffs may be able to recommend someone; other sources for ‘green’ contractors include online sites like Angie’s List.
Nonetheless, the time-consuming legwork of finding good pieces generally falls to the homeowner. To make the process easier, spend time thinking about and researching online what you want before you begin to shop. And be prepared to be persistent; happy hunting takes patience.

via houselogic.com

Salvaged Building Material Savings - The Value

2011-10-11T11:00:00.001-04:00

The value of salvage building components

Salvaged elements may not add to a home’s appraised value. An appraiser probably won’t include a home’s reclaimed heart pine beams in the kitchen or the bathroom’s antique plumbing fixtures when calculating the house’s value.

But that doesn’t mean the seller can’t use those amenities as selling points and boost the asking price accordingly. Homebuyers may be willing to pay more for authentic elements that give a house personality.

Talking with a local realtor before making changes; they’ll have a good sense of the housing market’s current demands and should be able to tell you whether a vintage element will boost your home’s market value.

via houselogic.com

Salvaged Building Material Savings - Sample Price Comparisons

2011-10-10T11:00:00.001-04:00

Sample price comparisons for various salvaged materials

Salvaged oak flooring: $1 to $3 per sq. ft.
New oak flooring: $4 to $10 per sq. ft.
Average savings for 12x16-foot room: $960
Salvaged interior solid panel door (basic): $20 to $50
New interior panel door: $100 to $200
Average savings: $115
Secondhand pedestal sink: $20 to $250
New pedestal sink: $100 to $800
Average savings: $315
Recycled crown molding: $.30 to $1 per lineal ft.
New crown molding: $.90 to $3 per lineal ft.
Average savings for 12x16-foot room: $72.80
Don’t forget to add in transportation costs. Not all salvage yards deliver, and those that do aren’t necessarily cheap: the cost of getting materials across town could be $100 or more. It might make more sense to borrow or rent a truck on your own.

via houselogic.com

Possible Warning Signs Of A Predatory Loan

2011-10-09T23:11:00.001-04:00

• Sounds too easy. “Guaranteed approval” or “no income verification” regardless of borrower’s current employment, credit history, and assets. These claims indicate the lender doesn’t care about whether you can afford to make the payments over the long haul.

• Excessive fees. Higher lender and/or mortgage broker fees than are typical in your market. Because these costs can be financed as part of the loan, they are easy to disguise or downplay. On competitive loans, fees are negotiable. It is common for home buyers to pay only one percent of the loan amount for prime loans. By contrast, a typical predatory loan may cost five percent or more.

• Large future costs. High-risk adjustable rate mortgages where the payment rises a lot after a short introductory period are seldom appropriate for families who already have had problems repaying other loans. Home buyers also should avoid a large single “balloon” payment (a lump sum due at the end of the loan’s term).

• Closing delays. The lender deliberately delays closing so the commitment on a reasonably-priced loan expires.

• Over-valued property. Inflated appraisals that allow excessive fees to be included in the loan and result in the borrower owing more to the bank than the home is worth.

• Barriers to refinancing. Prepayment penalties that make it hard for a borrower to refinance in order to pay off a high-cost loan by taking advantage of a low-cost loan.

• No down payment loans. These loans may be split into two mortgages, with one having a much higher cost. Home buyers should be sure they can afford the payments.

• Unethical document management. An ethical lender or broker will always require you to sign key loan papers, and they will never ask you to sign a document dated before the date you sign it.

Salvaged Building Material Savings - Lead Paint

2011-10-06T11:00:00.001-04:00

Dealing with lead paint

Some old items need to be treated with serious care such as items that appear to be lead paint hazards—that is, anything painted prior to 1978, when the Consumer Product Safety Commission (CPSC) banned lead in paints.
Nevertheless, buyers of old painted items need to be aware of the potential hazards. Older paint doesn’t mean the pieces are unusable, but the paint must be thoroughly removed or sealed—never scraped or sanded. The CPSC offers guidelines for treating lead paint in the household.

via houselogic.com

Saving Money with Salvaged Building Materials

2011-10-03T11:00:00.001-04:00

If you’re looking to improve your home on the cheap, consider using salvaged building materials. Besides being less expensive than new materials, secondhand features can add character, quality, and value to your home. But note that the savings in dollars may require a greater investment in time and effort.
Remodeling with secondhand building materials has many fans. Some are owners of historic houses who improve their homes by adding period elements. Others follow green building practices and appreciate conserving resources and keeping materials out of landfills. And still others are looking for quirky elements that will break their homes out of cookie-cutter molds.

via houselogic.com

Simple Tips for Better Home Showings

2011-09-29T11:00:00.001-04:00

Simple Tips for Better Home Showings

Remove clutter and clear off counters. Throw out stacks of newspapers and magazines and stow away most of your small decorative items. Put excess furniture in storage, and remove out-of-season clothing items that are cramping closet space. Don’t forget to clean out the garage, too.

Wash your windows and screens. This will help get more light into the interior of the home.

Keep everything extra clean. A clean house will make a strong first impression and send a message to buyers that the home has been well-cared for. Wash fingerprints from light switch plates, mop and wax floors, and clean the stove and refrigerator. Polish your doorknobs and address numbers. It’s worth hiring a cleaning service if you can afford it.

Get rid of smells. Clean carpeting and drapes to eliminate cooking odors, smoke, and pet smells. Open the windows to air out the house. Potpourri or scented candles will help.

Brighten your rooms. Put higher wattage bulbs in light fixtures to brighten up rooms and basements. Replace any burned-out bulbs in closets. Clean the walls, or better yet, brush on a fresh coat of neutral color paint.

Don’t disregard minor repairs. Small problems such as sticky doors, torn screens, cracked caulking, or a dripping faucet may seem trivial, but they’ll give buyers the impression that the house isn’t well-maintained.

Tidy your yard. Cut the grass, rake the leaves, add new mulch, trim the bushes, edge the walkways, and clean the gutters. For added curb appeal, place a pot of bright flowers near the entryway.

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

Add a touch of color in the living room. A colored afghan or throw on the couch will jazz up a dull room. Buy new accent pillows for the sofa.

Buy a flowering plant and put it near a window you pass by frequently.

Make centerpieces for your tables. Use brightly colored fruit or flowers.

Set the scene. Set the table with fancy dishes and candles, and create other vignettes throughout the home to help buyers picture living there. For example, in the basement you might display a chess game in progress.

Replace heavy curtains with sheer ones that let in more light. Show off the view if you have one.

Accentuate the fireplace. Lay fresh logs in the fireplace or put a basket of flowers there if it’s not in use.

Make the bathrooms feel luxurious. Put away those old towels and toothbrushes. When buyers enter your bathroom, they should feel pampered. Add a new shower curtain, new towels, and fancy guest soaps. Make sure your personal toiletry items are out of sight.

Send your pets to a neighbor or take them outside. If that’s not possible, crate them or confine them to one room (ideally in the basement), and let the real estate practitioner know where they’ll be to eliminate surprises.

Lock up valuables, jewelry, and money. While a real estate salesperson will be on site during the showing or open house, it’s impossible to watch everyone all the time.

Leave the home. It’s usually best if the sellers are not at home. It’s awkward for prospective buyers to look in your closets and express their opinions of your home with you there.

via realtormag.realtor.org

How to Hold a Successful Garage Sale

2011-09-26T11:00:00.001-04:00

How to Hold a Successful Garage Sale

Garage sales can be a great way to get rid of clutter — and earn a little extra cash — before you sell your home. But make sure the timing is right. Garage sales can take on a life of their own, and it might not be the best use of your energy right before putting your home on the market. Follow these tips for a successful sale.

Don’t wait until the last minute. You don’t want to be scrambling to hold a garage sale the week before an open house. Depending on how long you’ve lived in the home and how much stuff you have to sell, planning a garage sale can demand a lot of time and energy.

Get a permit. Most municipalities will require you to obtain a special permit or license in order to hold a garage sale. The permits are often free or very inexpensive, but still require you to register with the city.

See if neighbors want to join in. You can turn your garage sale into a block-wide event and lure more shoppers if you team up with neighbors. However, a permit may be necessary for each home owner, even if it’s a group event.

Schedule the sale. Sales on Saturdays and Sundays will generate the most traffic, especially if the weather cooperates. Start the sale early, 8 a.m. or 9 a.m. is best, and be prepared for early birds.

Advertise. Place an ad in free classified papers and Web sites, and in your local newspapers. Include the dates, time, and address. Let the public know if certain types of items will be sold, such as baby clothes, furniture, or weightlifting equipment. On the day of the sale, balloons and signs with prominent arrows will help to grab the attention of passersby.

Price your goods. Lay out everything that you plan to sell, and attach prices with removable stickers. Remember, garage sales are supposed to be bargains, so try to be objective as you set prices. Assign simple prices to your goods: 50 cents, 3 for $1, $5, $10, etc.

If it’s really junk, don’t sell it. Decide what’s worth selling and what’s not. If it’s really garbage, then throw it away. Broken appliances, for example, should be tossed. (Know where a nearby electrical outlet is, in case a customer wants to make sure something works.)

Check for mistakes. Make sure that items you want to keep don’t accidentally end up in the garage sale pile.

Create an organized display. Lay out your items by category, and display neatly so customers don’t have to dig through boxes.

Stock up on bags and newspapers. People who buy many small items will appreciate a bag to carry their goods. Newspapers are handy for wrapping fragile items.

Manage your money. Make a trip to the bank to get ample change for your cashbox. Throughout the sale, keep a close eye on your cash; never leave the cashbox unattended. It’s smart to have one person who manages the money throughout the day, keeping a tally of what was purchased and for how much. Keep a calculator nearby.

Prepare for your home sale. Donate the remaining stuff or sell it to a resale shop. Now that all of your clutter is cleared out, it’s time to focus on preparing your house for a successful sale!

via realtormag.realtor.org

Are Home Buyers Getting Too Picky? - Minor Home Flaws Derail More Deals

2011-09-22T11:01:00.001-04:00

Are Home Buyers Getting Too Picky? Minor Home Flaws Derail More Deals

Many buyers are demanding perfection in home’s today.

A small stain on the carpet? Forget it. Distracting paint colors? They can’t look past it. No granite countertops? Onto the next house!

As home values drop, offering buyers some of the best bargains in years, more home buyers have realized they can get more choosy when home-shopping. And with inventories high in many areas, sellers realize their home needs to exude perfection if its going to stand out.

During the housing boom a few years ago, buyers were more willing to overlook flaws, or accept them, that is. They may have negotiated with the seller over repairs or upgrades, but some buyers were willing to even take the home “as-is” to win a bidding war or to get the home in the area they wanted.

Times have changed.

Even first-time buyers, who once were lured to the “starter home” (a.k.a. a fixer-upper), are getting choosier. A survey earlier this year found that 87 percent of first-time buyers say they want a “move-in” ready home over a fixer-upper–and they want it to be affordable too!

Buyers are missing out on some excellent, older lived-in houses.. It’s a shame, simply because they can’t overlook flaws that wouldn’t have bothered most buyers in the previous two decades. Those flaws could be anything from minor imperfections like kitchen appliances by different manufacturers to the home’s color not matching the buyer’s furniture,

Anything that can be a distraction, you want to eliminate. A light bulb isn’t a big issue, but it can affect [buyers’] subconscious.

So how did buyers get so picky anyway? Is it just the power of a buyer’s market? Some also blame the rising popularity of home design shows on TV for making buyers more selective when viewing homes. But in recent months, more home design TV programming is showing a slight shift to fixer-upper housing make-overs, showing how a home’s flaws can be overcome to still become a dream home. Will such TV shows eventually make more buyers give less-than-perfect homes a second chance?

Until then, before the for-sale sign goes up, more sellers are heeding the advice of their real estate agent to clean, paint, upgrade and stage to avoid lowball offers. Plus, with the huge glut of low-priced foreclosures, such finishing touches may help home owners rise above the competition.

via styledstagedsold.blogs.realtor.org

How to Make $5,000 Stretch in a Kitchen Remodel

2011-09-21T11:00:00.001-04:00

How to Make $5,000 Stretch in a Kitchen Remodel

A “minor” kitchen remodel will cost home owners, on average, $21,695, according to the Cost vs. Vallue survey, an annual report by Remodeling magazine, in cooperation with REALTOR® Magazine, that reveals the top remodeling projects offering the highest returns at resale. Home owners stand to recoup about 72 percent (or $15,790) of that investment from a kitchen remodel when it’s time to sell too.

So the kitchen can offer some big payback at times of resale, but for the average home owner, $21,000 nowadays may be too much for their budget. So what should you do when a dated kitchen is still in desperate need of some TLC?

Here's how to transform a kitchen for less than $5,000. Paint the cabinets, add new countertops, replace the faucet, add a stainless steel kitchen island, and accessorize to give the kitchen an updated, fresh look. What are your best ideas for remodeling a kitchen on a tight budget?

via styledstagedsold.blogs.realtor.org

4 Updates Every Home Seller Should Avoid

2011-09-19T11:00:00.001-04:00

4 Updates Every Home Seller Should Avoid

The secret to successful pre-sale home remodeling is to keep up with the Jones', but never surpass them. Whether you want to make more money than you spend, or just recoup your remodeling expenses when you sell your home, know what's standard in the neighborhood.

Does everyone have laminate kitchen countertops? Splurge on granite and you'll be the envy of your friends, but you won't get your money back at resale. Is your home in a high-end neighborhood? Put in laminate countertops and your house will sell for less than full value, or worse yet, linger on the market for months.

Never be the last homeowner on the block to remodel. Homebuyers will pass up your property in favor of the one down the street where everything is already updated. Your home will sell slowly and for less money.

Before you pick up a hammer, visit real estate open houses and new home communities. Ask the builder to show you a spec home (that's an already built home without the model home's decorative features and upgrades).

The three main things in real estate are location, location and location. Some homes will sell no matter what they look like depending on the location and, of course, the right price. The main things to keep in mind when remodeling are: neutral, clean, and classic. That will always recoup your money.

You may need a home office and your kids may want a playroom, but you're not likely to recoup the costs of either of those improvements.

Kiss some cash goodbye when you do these money-draining updates:

Home Office

Upscale Master Addition

Family Room Addition

Upscale Kitchen Remodel

Northern Kentucky Home Sales

hThings You Need To Know When Buying A House - 9

Things You Need To Know When Buying A House - 8

Things You Need To Know When Buying A House - 7

Things You Need To Know When Buying A House - 6

Things You Need To Know When Buying A House - 5

Things You Need To Know When Buying A House - 4

Things You Need To Know When Buying A House - 3

Things You Need To Know When Buying A House - 2

Things You Need To Know When Buying A House - 1

Keep Pets Save With Microchipping

How to Make Moving With Pets Easier - Part 4

How to Make Moving With Pets Easier - Part 2

How To Make Moving With Your Pet Easier - Part 1

How to Make Moving With Pets Easy - Part 3

Resourses To Help Consumers Shop For The Best Mortgage

Other Solutions Realtors And Home Buyers Can Use To Avoid Predator Lenders

If The Loan Is An Adjustable Rate Mortgage (ARM) Ask:

Shop For The Lowest-Cost Loan

Beware of Predatory Loans!

Salvaged Building Material Savings - Working With Salvage

Salvaged Building Material Savings - The Value

Salvaged Building Material Savings - Sample Price Comparisons

Possible Warning Signs Of A Predatory Loan

Salvaged Building Material Savings - Lead Paint

Saving Money with Salvaged Building Materials

Simple Tips for Better Home Showings

Simple Tips for Better Home Showings

How to Hold a Successful Garage Sale

How to Hold a Successful Garage Sale

Are Home Buyers Getting Too Picky? - Minor Home Flaws Derail More Deals

Are Home Buyers Getting Too Picky? Minor Home Flaws Derail More Deals

How to Make $5,000 Stretch in a Kitchen Remodel

How to Make $5,000 Stretch in a Kitchen Remodel

4 Updates Every Home Seller Should Avoid

4 Updates Every Home Seller Should Avoid

4 Updates Every Home Seller Must Do

4 Updates Every Home Seller Must Do

Top 5 Things You Should Know to Help Sell Your Home Fast

Top 5 Things You Should Know to Help Sell Your Home Fast

What Not to Do When Your Home Is on the Market

What Not to Do When Your Home Is on the Market

Housing Upgrades That Aren’t Worth It : Styled, Staged & Sold

Housing Upgrades That Aren’t Worth It

4 Don’ts When Selling a Home : Styled, Staged & Sold

4 Don’ts When Selling a Home

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My House is Worth What? Part 3 - Fix Before You List

My House is Worth What?

My House is Worth What? Part 2 - To FSBO or not to FSBO?

My House is Worth What?

Dispelling the 20 Percent Downpayment Myth You're Hearing In The News - IMPORTANT TO KNOW

Dispelling the 20 Percent Downpayment Myth

My House is Worth What? Part 1 - Weighing The Options

Automated Valuation Methods

Appraisals

Comparative Market Analysis (CMAs)

My House is Worth What?

My House is Worth What?

Fielding a Lowball Purchase Offer on Your Home

Counter the purchase offer

Consider the terms

Review your comps

Consider the buyer’s comps

Get the agents together

Don’t signal desperation

5 Inexpensive Home Updates to Complete before Listing Your Home - Part 5

5 Inexpensive Home Updates to Complete before Listing Your Home - Part 3

5 Inexpensive Home Updates to Complete before Listing Your Home - Part 2

5 Inexpensive Home Updates to Complete before Listing Your Home - Part 1

Downsize Your Home To Downsize Expenses - Opportunities, Looking Beyond the Money, Stopping to Think First

Downsize Your Home To Downsize Expenses - Right Location, Lowering Utilities, Cutting the Maintenance

Downsize Your Home To Downsize Expenses - How Will The Taxes Effect Me

Downsize Your Home To Downsize Expenses - Chasing the Savings and Reducing the Mortgage Payments

Downsize Your Home To Downsize Expenses

Selling Your Home In A Down Market - Bottom Line

Selling Your Home In A Down Market - Curb Appeal/Move In Condition

Selling Your Home In A Down Market - Sweeten The Deal

Selling Your Home In A Down Market - Clean The Clutter

Selling Your Home In A Down Market - Differentiate From The Neighbors