1 - Fog machines are now very inexpensive and readily available during the Halloween buying season, adding one to your haunt or party makes a big impact on your Halloween celebration and will add that extra effect to thrill and scare your trick or treaters. Visit Got Fog? for everything you need to know about fog machines!
2 - Add some spider web to your party decorations and haunt, you can find it at most stores selling Halloween products. Just attach to something and pull it out all over!
3 - Use apples for taper candle holders. Choose small, round apples that will sit stable on a flat surface and remove the stems. Cut a small round hole in the top of each apple - deep and wide enough to securely hold a taper candle. Make sure the apples are shaped so that they have a flat bottom, so they won't tip over.
4 - Great party idea, start a circle ghost story! Sit in a circle and start a scary ghost story. Each guest adds on to the story until it reaches a scary ending!
5 - Videotape your Halloween memories! Interview some of your trick-or-treaters, your yard haunt, carved jack-o-lanterns. You'll be glad you did when you sit down to watch it later!
6 - You can find candy companies on line that will add a personalized wrapper to your candy bars! They are relatively inexpensive and make a great treat to hand out at your yard haunt!
7 - Having a party for little ghouls? Let them make their instruments out of oat meal cans, tin cans, add a inexpensive plastic flute, noise makers, kazoos and start a musical Halloween parade through your neighborhood! The kids love it and the neighbors will, too!
8 - An alternative to bobbing for apples is to hang them by their stems with thread from the ceiling and let party goers try to bite them!
9 - Hang long strands of white thread on your porch to simulate spider webs. Make them long enough so that little kids will be able to feel them, too. Spray them with water to add an extra creepy factor.
10 - Have a pumpkin carving contest for your kids and their friends. Buy a few smaller pumpkins and give prizes for the most creative. You can also use paints as an alternative.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Friday, October 31, 2008
Thursday, October 30, 2008
HAPPY HALLOWEEN
Looking to try something new this Halloween? Find some inspiration with these suggestions.
1 - Spookify your computer with a scary screensaver!
2 - Old tree trunks or cut sections of thick limbs make great stands for your Jack O' Lanterns, witches cauldrons and other props. You can sometimes find these at nursery's. You can also check with local firewood providers.
3 - Hollow out mini pumpkins and use as votive candle holders. They are inexpensive and look really great, you can even carve or paint faces in them!
4 - Ask your Halloween party guests to bring a carved pumpkin to the party. Set up a special table to display them all on (this will also enhance your party décor!)
5 - Serve fresh veggies using a hollowed out pumpkin as a bowl. Cut of the top and clean out, leaving the top in a jagged edge design! Use mini pumpkins to hold dips!
6 - Add the effect of lightning to your haunted house, yard haunt or Halloween party with the Lightning Machine from Haunted Creations. This unit realistically simulates the effects of both thunder and lightning! Read all about it in the lighting section at: The Yard Haunter
7 - Use clear food handlers plastic gloves to freeze ice hands to throw in the punch bowl. It will keep it cold and look great!
8 - For an eerie effect, hang glow-in-the-dark bats, skeletons and spiders from the ceilings and trees! Write scary Halloween messages or body outlines on your front walk using colored chalk or washable fluorescent paint. Use a black lights to enhance the effect. Check out the Black Light Magic section of this site.
9 - Treating your kids to a spooky Halloween dinner will make them less likely to eat the candy they collect before you have a chance to check it for them. Check here for some recipes for main dishes using pumpkins!
10 - Create creepy autumn centerpieces by filling vases with dried flowers, brown leaves, and empty branches. Tie a black ribbon bow around each centerpiece.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
1 - Spookify your computer with a scary screensaver!
2 - Old tree trunks or cut sections of thick limbs make great stands for your Jack O' Lanterns, witches cauldrons and other props. You can sometimes find these at nursery's. You can also check with local firewood providers.
3 - Hollow out mini pumpkins and use as votive candle holders. They are inexpensive and look really great, you can even carve or paint faces in them!
4 - Ask your Halloween party guests to bring a carved pumpkin to the party. Set up a special table to display them all on (this will also enhance your party décor!)
5 - Serve fresh veggies using a hollowed out pumpkin as a bowl. Cut of the top and clean out, leaving the top in a jagged edge design! Use mini pumpkins to hold dips!
6 - Add the effect of lightning to your haunted house, yard haunt or Halloween party with the Lightning Machine from Haunted Creations. This unit realistically simulates the effects of both thunder and lightning! Read all about it in the lighting section at: The Yard Haunter
7 - Use clear food handlers plastic gloves to freeze ice hands to throw in the punch bowl. It will keep it cold and look great!
8 - For an eerie effect, hang glow-in-the-dark bats, skeletons and spiders from the ceilings and trees! Write scary Halloween messages or body outlines on your front walk using colored chalk or washable fluorescent paint. Use a black lights to enhance the effect. Check out the Black Light Magic section of this site.
9 - Treating your kids to a spooky Halloween dinner will make them less likely to eat the candy they collect before you have a chance to check it for them. Check here for some recipes for main dishes using pumpkins!
10 - Create creepy autumn centerpieces by filling vases with dried flowers, brown leaves, and empty branches. Tie a black ribbon bow around each centerpiece.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Top 10 things to do before you list your home
Homes that have been staged sell 3-10% higher and 60% faster than other homes. Stage your home before you list your home for sale.
1. Make a great first impression
Make your home memorable. Home buying is an emotional purchase, with buyers deciding in the first 30 seconds of seeing the home if this is the one. The front entrance should be warm and welcoming. Does your home look great from the street (i.e., does it have great curb appeal)? Your home should be the one buyers want to see the rest of when they enter.
2. Clean, Clean, Clean
This is something most sellers overlook but the buyer will not. Buyers will look at the kitchen and bathrooms with a critical eye. So, if the grout around the sink or the shower needs to be recaulked, do it! Clean the carpets and rugs (this might eliminate any weird odors, too). If buyers see evidence that they will have to clean and fix things, they will offer less money for the home. A clean home looks like it has been taken care of and loved. If you need help, enlist a friend or hire a professional cleaning service.
3. Declutter
Nothing is worse than entering a home with clutter. And, since you are already planning to move, START PACKING! Get all personal items that you do not need or use packed and stored, such as photographs and children's art. You want the potential buyer to see themselves in the home and they can't do that if all they see is you and your family. Remove magnets and notes from the fridge.
4. Store it
Most of us have more furniture than we need or use. Grandma's chair, or that special rocker being saved for the grandchildren needs to be packed up and stored. Remove any furniture that is not absolutely necessary. If a room is open, it looks large and adds square footage to the home; this is $$$ in the real estate market. Have the kids put a few toys in special basket and pack the rest.
5. Let there be light
Open the curtains and let the sunshine in! You may like your privacy, but the buyer doesn't want to think about that when looking at a home. They want to know that light will come in and the house won't be dark. Turn on all the lights before a showing or open house.
6. Neutral background
Look at your walls -- are they clean and bright? Has it been years since you painted? Neutral walls (not just white) that are clean and have an up-to-date color makes a huge impression. Make sure your artwork matches your decor tastefully and the scale and size is right for the room and furniture. Don't forget the woodwork -- make sure it is painted and clean. If your woodwork is stained, make sure it's clean and dusted.
7. Set the stage
Most people only use their dining room on special occasions. Make it look as though you are having a dinner party in an hour. Make sure you have a center piece and fresh flowers are an inexpensive way to make someone want to sit down and join the party. If your home is casual, set a casual table. If your dining room is formal, pull out all the stops and set it with China.
8. Empty closets
Empty every closet as much as you can. Remove out of season clothes. Pack all items that you are not going to use in the next 3 months. The kitchen cabinets should not be overlooked, nor should the bookcases, hutches, built-ins, entertainment centers or any other storage space. You want it to look as though there is room for the buyers' things. Buyers will open cabinet doors to see inside, make sure they see space. If you have a lot of stuff in the attic, basement or garage now is the time to pack it up or get rid of it; remember you are moving.
9. Pet smarts
If you have pets, contain them. Preferably, move them out of the house during open houses. Find a friend or neighbor to help if you can't board them. If you are leaving for a showing or open house take them with you. Remember that a litter box should always be out of sight and clean. Pay attention to the yard, when a buyer steps out to see the property make sure they don't step in anything.
10. Smells good
Remember smell is a very important sense and your house has a smell of its own. Does yours have a good smell or a bad smell? Do you have pets? Most owners are immune to the smell of their pets and the odor of their home. Ask a friend who is sensitive to these things to give you feedback. Does she smell Rover, or the cat? Can she smell the fish you had last night or your teenage sons shoes? Odor eliminating sprays work very well, baking cookies or cakes is a good idea, but a high-end home fragrance is another great alternative.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
1. Make a great first impression
Make your home memorable. Home buying is an emotional purchase, with buyers deciding in the first 30 seconds of seeing the home if this is the one. The front entrance should be warm and welcoming. Does your home look great from the street (i.e., does it have great curb appeal)? Your home should be the one buyers want to see the rest of when they enter.
2. Clean, Clean, Clean
This is something most sellers overlook but the buyer will not. Buyers will look at the kitchen and bathrooms with a critical eye. So, if the grout around the sink or the shower needs to be recaulked, do it! Clean the carpets and rugs (this might eliminate any weird odors, too). If buyers see evidence that they will have to clean and fix things, they will offer less money for the home. A clean home looks like it has been taken care of and loved. If you need help, enlist a friend or hire a professional cleaning service.
3. Declutter
Nothing is worse than entering a home with clutter. And, since you are already planning to move, START PACKING! Get all personal items that you do not need or use packed and stored, such as photographs and children's art. You want the potential buyer to see themselves in the home and they can't do that if all they see is you and your family. Remove magnets and notes from the fridge.
4. Store it
Most of us have more furniture than we need or use. Grandma's chair, or that special rocker being saved for the grandchildren needs to be packed up and stored. Remove any furniture that is not absolutely necessary. If a room is open, it looks large and adds square footage to the home; this is $$$ in the real estate market. Have the kids put a few toys in special basket and pack the rest.
5. Let there be light
Open the curtains and let the sunshine in! You may like your privacy, but the buyer doesn't want to think about that when looking at a home. They want to know that light will come in and the house won't be dark. Turn on all the lights before a showing or open house.
6. Neutral background
Look at your walls -- are they clean and bright? Has it been years since you painted? Neutral walls (not just white) that are clean and have an up-to-date color makes a huge impression. Make sure your artwork matches your decor tastefully and the scale and size is right for the room and furniture. Don't forget the woodwork -- make sure it is painted and clean. If your woodwork is stained, make sure it's clean and dusted.
7. Set the stage
Most people only use their dining room on special occasions. Make it look as though you are having a dinner party in an hour. Make sure you have a center piece and fresh flowers are an inexpensive way to make someone want to sit down and join the party. If your home is casual, set a casual table. If your dining room is formal, pull out all the stops and set it with China.
8. Empty closets
Empty every closet as much as you can. Remove out of season clothes. Pack all items that you are not going to use in the next 3 months. The kitchen cabinets should not be overlooked, nor should the bookcases, hutches, built-ins, entertainment centers or any other storage space. You want it to look as though there is room for the buyers' things. Buyers will open cabinet doors to see inside, make sure they see space. If you have a lot of stuff in the attic, basement or garage now is the time to pack it up or get rid of it; remember you are moving.
9. Pet smarts
If you have pets, contain them. Preferably, move them out of the house during open houses. Find a friend or neighbor to help if you can't board them. If you are leaving for a showing or open house take them with you. Remember that a litter box should always be out of sight and clean. Pay attention to the yard, when a buyer steps out to see the property make sure they don't step in anything.
10. Smells good
Remember smell is a very important sense and your house has a smell of its own. Does yours have a good smell or a bad smell? Do you have pets? Most owners are immune to the smell of their pets and the odor of their home. Ask a friend who is sensitive to these things to give you feedback. Does she smell Rover, or the cat? Can she smell the fish you had last night or your teenage sons shoes? Odor eliminating sprays work very well, baking cookies or cakes is a good idea, but a high-end home fragrance is another great alternative.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Wednesday, October 29, 2008
Staging Your House
Dressing homes for success before their debut day on the market has not only become de rigueur but it has spawned a booming industry that even has a trademarked name. It's called "staging," and if you think of it a little like getting a stage ready for a theater performance or the television crew, you're not far off.
Seducing the Buyer
The idea is to set the "stage" for would-be buyers to imagine themselves happily living in your home. Setting the stage to sell your home does indeed mean that your home must be attractive and appealing even beyond being clean and in excellent repair. In short, your home needs to seduce.
There are professionals called "Home Stagers" who are trained in assisting home sellers and Real Estate Agents in preparing homes to sell. In fact, statistically professionally staged homes sell 50% faster and for 6% more then homes not professionally staged. You can find a directory of professional home stagers and additional home staging resources at the Home Staging Resource (http://www.homestagingresource.com).
Staging Tips From the Pros
De-clutter one more time. Think of it as a second, more thorough editing. When you removed clutter and personal items the first time around, you probably weren't hard-nosed enough.
Remove large unnecessary items. Even if it means paying for storage somewhere else. Large items can make rooms smaller than they are.
Get serious with the closets. Staging pros suggest removing about half the clothes from your closets, then buying new, attractive, matching hangers for all the clothes that remain. Hang the clothes all facing the same direction. Organize shoeboxes into neat stacks. In linen closets wash all the towels and sheets so that nothing smells musty, and fold them perfectly, as if they were on display at a high-end department store.
It may be worthwhile to invest in some plush new bathroom towels and an attractive new bedspread. Remember you will take these with you when you move, and if your old towels and bedspread look threadbare or faded, the message is that your home is dated or unkempt.
Make sure every window sparkles and that the drapes/blinds are all open. No one wants to live in a dark house so make sure every possible ray of light gets in. Check all the light bulbs in every single fixture to make sure they work. Replace them with brighter ones, if possible.
Professional stagers have lots of "beauty tips," such as replacing shabby throw pillows in the living room with new ones; turning every jar and bottle in your kitchen pantry and bathroom medicine cabinet so that the label faces toward you - this gives your pantry and medicine cabinet an orderly look; organizing books on books shelves so that books of the same height are arranged next to each other; and storing any kitchen appliances or cookware that doesn't fit easily into a cupboard. Since people will open your kitchen cupboards, consider removing any truly ugly or dinged up cookware.
Make sure your home smells good. Now that you've ridden it of any animal, smoke, or cooking smells, throw open the windows for a while.
All ready for your visitors? It never hurts to take one, last, very careful look. Leave the house. This is important. Many buyers find it weird to encounter the seller when they go to an open house. They will hesitate to look in rooms and closets and will leave quickly, never a good sign. If you're selling it yourself without an agent try not to hover and don't follow visitors from room to room.
Also, don't forget about the outside of the home. Plant blooming flowers near the front and back doors and add fresh bark around the yard. Make sure your shrubbery is well trimmed and the grass is mowed and fertilized. A buyer gets a first impression of your home by driving by, so the outside look is just as important as the inside.
Real Life Example ...
Who: Home seller on a last tour of a rental home she was selling.The quote: "I power washed the house, cleaned the gutters, cleaned the roof, cleaned the driveway, put beauty bark and gravel around the house, painted one room, and that was it. I came by one last time to mow and found a dead rat on the workbench in the garage and an agent coming up the driveway. I flung the rat into my neighbor's yard and then went back later to retrieve it."Who: Seller hid loads of soiled laundry in her car during a showing.The quote: " Buyers were not looking at or in my car so it was a safe place to hide my piles of unfinished laundry."
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Seducing the Buyer
The idea is to set the "stage" for would-be buyers to imagine themselves happily living in your home. Setting the stage to sell your home does indeed mean that your home must be attractive and appealing even beyond being clean and in excellent repair. In short, your home needs to seduce.
There are professionals called "Home Stagers" who are trained in assisting home sellers and Real Estate Agents in preparing homes to sell. In fact, statistically professionally staged homes sell 50% faster and for 6% more then homes not professionally staged. You can find a directory of professional home stagers and additional home staging resources at the Home Staging Resource (http://www.homestagingresource.com).
Staging Tips From the Pros
De-clutter one more time. Think of it as a second, more thorough editing. When you removed clutter and personal items the first time around, you probably weren't hard-nosed enough.
Remove large unnecessary items. Even if it means paying for storage somewhere else. Large items can make rooms smaller than they are.
Get serious with the closets. Staging pros suggest removing about half the clothes from your closets, then buying new, attractive, matching hangers for all the clothes that remain. Hang the clothes all facing the same direction. Organize shoeboxes into neat stacks. In linen closets wash all the towels and sheets so that nothing smells musty, and fold them perfectly, as if they were on display at a high-end department store.
It may be worthwhile to invest in some plush new bathroom towels and an attractive new bedspread. Remember you will take these with you when you move, and if your old towels and bedspread look threadbare or faded, the message is that your home is dated or unkempt.
Make sure every window sparkles and that the drapes/blinds are all open. No one wants to live in a dark house so make sure every possible ray of light gets in. Check all the light bulbs in every single fixture to make sure they work. Replace them with brighter ones, if possible.
Professional stagers have lots of "beauty tips," such as replacing shabby throw pillows in the living room with new ones; turning every jar and bottle in your kitchen pantry and bathroom medicine cabinet so that the label faces toward you - this gives your pantry and medicine cabinet an orderly look; organizing books on books shelves so that books of the same height are arranged next to each other; and storing any kitchen appliances or cookware that doesn't fit easily into a cupboard. Since people will open your kitchen cupboards, consider removing any truly ugly or dinged up cookware.
Make sure your home smells good. Now that you've ridden it of any animal, smoke, or cooking smells, throw open the windows for a while.
All ready for your visitors? It never hurts to take one, last, very careful look. Leave the house. This is important. Many buyers find it weird to encounter the seller when they go to an open house. They will hesitate to look in rooms and closets and will leave quickly, never a good sign. If you're selling it yourself without an agent try not to hover and don't follow visitors from room to room.
Also, don't forget about the outside of the home. Plant blooming flowers near the front and back doors and add fresh bark around the yard. Make sure your shrubbery is well trimmed and the grass is mowed and fertilized. A buyer gets a first impression of your home by driving by, so the outside look is just as important as the inside.
Real Life Example ...
Who: Home seller on a last tour of a rental home she was selling.The quote: "I power washed the house, cleaned the gutters, cleaned the roof, cleaned the driveway, put beauty bark and gravel around the house, painted one room, and that was it. I came by one last time to mow and found a dead rat on the workbench in the garage and an agent coming up the driveway. I flung the rat into my neighbor's yard and then went back later to retrieve it."Who: Seller hid loads of soiled laundry in her car during a showing.The quote: " Buyers were not looking at or in my car so it was a safe place to hide my piles of unfinished laundry."
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Tuesday, October 28, 2008
Enticing Buyers With a Home Warranty
When you buy a new home from a contractor or housing developer, it comes with a warranty guaranteeing that the home's mechanical systems, including plumbing, heating, electrical, and air conditioning, will work for a certain period of time. The major appliances, if included in the new home, are also covered by the warranty. If anything malfunctions while under warranty the appliance or mechanical system is repaired or replaced for a small deductible of usually no more than $75 paid by the homeowner. Warranties on new homes typically cover one to five years, and can be renewed.
Competing With the New
Sounds like a pretty good deal, right? Homebuyers naturally love warranties that are included in the price of the home. Often homebuyers have plunked down a lot of their savings and have borrowed heavily to make their home purchase. The last thing they want to think about is the possibility of having to make costly repairs in the first year or two. A warranty means no big repair bills for at least a year.But say the home you want to sell isn't new. It's 30 years old and you've been living in it for the last 10 years. How do you compete with the new homes in your market and their attractive warranties?Easy. Buy a seller's warranty, which is essentially a home warranty that you buy to make your older home more attractive to would-be buyers. Basically it's the same deal as any home warranty: You pay about $300 to $400 for a year's worth of coverage, and if anything malfunctions during that time, the new homeowner only pays a deductible of $50 to $75. There are many places to buy home warranties, from insurance companies to banks. Some companies that offer home warranties even have programs for home sellers whereby you don't have to pay the warranty premium until you actually sell the home. Also, most companies will offer a warranty even on homes that are quite old.Do not confuse home warranties with homeowner's insurance. Homeowner's insurance almost never covers a home's mechanical systems or appliances. It generally covers damage due to fire, theft or vandalism, windstorms, or other natural disasters, accidents, or crime.A seller's warranty can also be a nice bit of insurance for you as home seller. The last thing you want is to be settled in your new home and get a call from the guy who bought your previous home complaining about the heating system, which, now that it's October, is not working. Even worse, you may get a call from his lawyer.More than half the states in the nation now have strict disclosure laws obligating sellers to inform would-be buyers about a home's existing problems, if any. If you live in a state with a disclosure rule you are legally required to tell the truth about such past and existing problems as whether your home was ever flooded, when you last replaced the roof, and if you know of any problems with your mechanical systems. (See Tell All: Disclosure for the Seller.) Still, despite these required disclosures, in the worst-case scenario you still could be vulnerable to a lawsuit if the buyer of your home suddenly finds himself with a completely non-functioning plumbing or heating system. A $400 warranty may be worth it for your peace of mind.
Warranties and Market Trends
However, in a housing market that is relatively hot - meaning lots of buyers chasing a limited number of existing homes - few sellers offer warranties. As long as you follow your state's disclosure requirements, if any, and do not lie about existing problems, most buyers assume they are taking on the responsibility of maintaining the home and fixing future malfunctions. If they love your home and its location, they'll buy the house with or without a warranty.In a very hot market, would-be buyers may be contemplating buying your home primarily for its location and then doing a major remodel, including adding entirely new heating or plumbing systems. A few years ago, for instance, one of the most popular high-end remodels was to replace older plumbing systems, often made of lead, using copper pipes. Buyers in such a market know they'd better jump to get the house and figure out how to remodel later. They would have no particular interest in a home warranty. And you would waste money buying one.Most sellers of existing homes do not offer warranties. And if you are selling in a strong market, there's probably no big reason to offer one as a competitive advantage. But, if you think your home needs a bit of a boost to make it stand out from the competition, you might consider buying a warranty.
Seller's Tip: As always, you need to research your market. Go to open houses for homes like yours and see if sellers offer warranties. Ask friends and colleagues who've recently bought if the sellers threw a warranty into the deal. If you really need a competitive advantage to sell your house, you can think of the $400 premium for a warranty as a part of your marketing plan. If your house is highly desirable anyway, skip the warranty and save your money.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Competing With the New
Sounds like a pretty good deal, right? Homebuyers naturally love warranties that are included in the price of the home. Often homebuyers have plunked down a lot of their savings and have borrowed heavily to make their home purchase. The last thing they want to think about is the possibility of having to make costly repairs in the first year or two. A warranty means no big repair bills for at least a year.But say the home you want to sell isn't new. It's 30 years old and you've been living in it for the last 10 years. How do you compete with the new homes in your market and their attractive warranties?Easy. Buy a seller's warranty, which is essentially a home warranty that you buy to make your older home more attractive to would-be buyers. Basically it's the same deal as any home warranty: You pay about $300 to $400 for a year's worth of coverage, and if anything malfunctions during that time, the new homeowner only pays a deductible of $50 to $75. There are many places to buy home warranties, from insurance companies to banks. Some companies that offer home warranties even have programs for home sellers whereby you don't have to pay the warranty premium until you actually sell the home. Also, most companies will offer a warranty even on homes that are quite old.Do not confuse home warranties with homeowner's insurance. Homeowner's insurance almost never covers a home's mechanical systems or appliances. It generally covers damage due to fire, theft or vandalism, windstorms, or other natural disasters, accidents, or crime.A seller's warranty can also be a nice bit of insurance for you as home seller. The last thing you want is to be settled in your new home and get a call from the guy who bought your previous home complaining about the heating system, which, now that it's October, is not working. Even worse, you may get a call from his lawyer.More than half the states in the nation now have strict disclosure laws obligating sellers to inform would-be buyers about a home's existing problems, if any. If you live in a state with a disclosure rule you are legally required to tell the truth about such past and existing problems as whether your home was ever flooded, when you last replaced the roof, and if you know of any problems with your mechanical systems. (See Tell All: Disclosure for the Seller.) Still, despite these required disclosures, in the worst-case scenario you still could be vulnerable to a lawsuit if the buyer of your home suddenly finds himself with a completely non-functioning plumbing or heating system. A $400 warranty may be worth it for your peace of mind.
Warranties and Market Trends
However, in a housing market that is relatively hot - meaning lots of buyers chasing a limited number of existing homes - few sellers offer warranties. As long as you follow your state's disclosure requirements, if any, and do not lie about existing problems, most buyers assume they are taking on the responsibility of maintaining the home and fixing future malfunctions. If they love your home and its location, they'll buy the house with or without a warranty.In a very hot market, would-be buyers may be contemplating buying your home primarily for its location and then doing a major remodel, including adding entirely new heating or plumbing systems. A few years ago, for instance, one of the most popular high-end remodels was to replace older plumbing systems, often made of lead, using copper pipes. Buyers in such a market know they'd better jump to get the house and figure out how to remodel later. They would have no particular interest in a home warranty. And you would waste money buying one.Most sellers of existing homes do not offer warranties. And if you are selling in a strong market, there's probably no big reason to offer one as a competitive advantage. But, if you think your home needs a bit of a boost to make it stand out from the competition, you might consider buying a warranty.
Seller's Tip: As always, you need to research your market. Go to open houses for homes like yours and see if sellers offer warranties. Ask friends and colleagues who've recently bought if the sellers threw a warranty into the deal. If you really need a competitive advantage to sell your house, you can think of the $400 premium for a warranty as a part of your marketing plan. If your house is highly desirable anyway, skip the warranty and save your money.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Monday, October 27, 2008
Do I Need a Home Warranty?
A warranty is a kind of insurance against defects or malfunctions that might occur in the home after the sale. As with anything else, you usually get what you pay for. Your real estate agent can advise you about the kinds of warranties available in your area, including what they cover and what they cost. You can also look for home warranty companies in the phone book, in the real estate section of your local paper, or online.Typically, home warranties protect buyers (or home owners) for such items as:
Repair costs of built-in appliances
Roof leaks
Plumbing, electrical, and heating and cooling systems
Structural problems
Some sellers include a home warranty as part of the sale—and if not, you might be wise to ask for it. Sometimes buyers and sellers split the cost; it offers peace of mind to both parties. Be sure to educate yourself as to what a warranty in your area covers and what it costs.Some warranties exclude appliances from coverage. Some warranties also specifically exclude swimming pools and spas, or else require an additional fee to cover them.
Warranty Policy Example
How one warranty policy describes what is covered and what isn’t:KITCHEN REFRIGERATOR/SUB ZERO UNITCovered: All parts and components that affect the operation of the unitNot Covered: Ice-makers (except where noted, subject to all other agreement limitations), crushers, dispensers and related equipment, internal shell, racks, shelves, food spoilage, independent freezers (except where noted, subject to all other agreement limitations)MICROWAVE OVEN (BUILT-IN)Covered: All parts and componentsNot Covered: Interior lining, door glass, shelves, rotisseries, meat probes, portable countertop units, lightsGARAGE DOOR OPENERCovered: Motor, wiring, switches, receiver unitNot Covered: Garage doors, remote transmitters, track drive, sensorsELECTRICAL SYSTEMCovered: Outlets, switches, junction boxes, breakers, main panel, sub panelsNot Covered: Power failure/surge, D.C. components, low voltage, and accessories. All intercoms, fixtures, inadequate wiring capacity, cable wiring, fiber optic, access to wiring
What to Look For
Whether the seller buys the warranty or you purchase your own, read it carefully. If what you read is not satisfactory, choose a different policy or a different company. Make sure the policy spells out:
The term of the warranty (usually one year but there may be an option to extend)
The names of the persons being protected by the warranty
If the warranty is being transferred (from the seller to you), clear specifics of how that transfer will take effect
A precise explanation of how to file a claim
A clear description of what is covered — what is included, what is excluded, any limitations on personal property coverage. Any deductibles or other fees besides the cost of the policy itself
A clear explanation of who will make repairs (Does the warranty company have its own repair people? Does it have a designated service company? Or will you be reimbursed for the cost of having repairs done?)
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Repair costs of built-in appliances
Roof leaks
Plumbing, electrical, and heating and cooling systems
Structural problems
Some sellers include a home warranty as part of the sale—and if not, you might be wise to ask for it. Sometimes buyers and sellers split the cost; it offers peace of mind to both parties. Be sure to educate yourself as to what a warranty in your area covers and what it costs.Some warranties exclude appliances from coverage. Some warranties also specifically exclude swimming pools and spas, or else require an additional fee to cover them.
Warranty Policy Example
How one warranty policy describes what is covered and what isn’t:KITCHEN REFRIGERATOR/SUB ZERO UNITCovered: All parts and components that affect the operation of the unitNot Covered: Ice-makers (except where noted, subject to all other agreement limitations), crushers, dispensers and related equipment, internal shell, racks, shelves, food spoilage, independent freezers (except where noted, subject to all other agreement limitations)MICROWAVE OVEN (BUILT-IN)Covered: All parts and componentsNot Covered: Interior lining, door glass, shelves, rotisseries, meat probes, portable countertop units, lightsGARAGE DOOR OPENERCovered: Motor, wiring, switches, receiver unitNot Covered: Garage doors, remote transmitters, track drive, sensorsELECTRICAL SYSTEMCovered: Outlets, switches, junction boxes, breakers, main panel, sub panelsNot Covered: Power failure/surge, D.C. components, low voltage, and accessories. All intercoms, fixtures, inadequate wiring capacity, cable wiring, fiber optic, access to wiring
What to Look For
Whether the seller buys the warranty or you purchase your own, read it carefully. If what you read is not satisfactory, choose a different policy or a different company. Make sure the policy spells out:
The term of the warranty (usually one year but there may be an option to extend)
The names of the persons being protected by the warranty
If the warranty is being transferred (from the seller to you), clear specifics of how that transfer will take effect
A precise explanation of how to file a claim
A clear description of what is covered — what is included, what is excluded, any limitations on personal property coverage. Any deductibles or other fees besides the cost of the policy itself
A clear explanation of who will make repairs (Does the warranty company have its own repair people? Does it have a designated service company? Or will you be reimbursed for the cost of having repairs done?)
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Sunday, October 26, 2008
Contingencies Are the Buyer's Friend
A significant portion of the purchase contract consists of clauses relating to conditions, or contingencies, that must be satisfied, each within a certain timeframe, in order for the sale to go through. These are the legal loopholes that allow you to back out of the contract under certain circumstances. They apply a practical brake to the emotional rush that often drives a home purchase.
Keeping Track of Due Dates
A useful tool during the weeks leading up to closing is a calendar or schedule that reminds you of dates by when certain tasks must be completed. Contingency clauses also specify when and how notice of cancellation must be given and received. Your real estate agent and the escrow company handling the transaction should be staying on top of this schedule, but it will help if you keep an eye on it as well. The others are juggling many schedules; this one is your baby.Contingencies are a double-edged sword. Some of them are designed to protect you from major disaster, letting you cancel the contract without penalty. By the same token, of course, the seller is allowed to rescind the contract if you don’t meet your obligations.
Disclosure Requirements
Many states now require sellers to give buyers a completed disclosure form within a few days of both parties having signed the purchase contract. Often the form contains a statement that the seller knows that the buyer is relying on the form's contents. Some real estate companies require seller disclosures, and agents can be held legally responsible for not disclosing defects to buyers.Even where disclosure is voluntary and even if the sale is deemed “as-is,” sellers must disclose all material problems and defects that would affect the value of the home and the buyer’s decision to purchase.The disclosure statement covers everything from roofs, appliances, plumbing, and termites to environmental hazards (abandoned oil or septic tanks, for example) and zoning changes or assessments that might affect the cost of living. If the property is in an earthquake hazard zone, flood zone, or other area where government regulations apply special building restrictions and requirements, that must be disclosed as well.The seller must declare whether or not he or she has knowledge of any of these problems or others such as past water or fire damage, even if repaired.If you have not received a disclosure form by the deadline, you have the right to cancel the contract and get your deposit back. Once you receive the disclosure form, you have a limited time to decide what you want to do, including rescinding your offer.
The Financing Contingency
Perhaps the most essential contingency clause for most buyers is financing. This makes the offer conditional upon your getting a mortgage for the amount and at the terms you specified in the offer, including the interest rate, whether the rate is fixed or adjustable, the duration of the loan, and the amount of the monthly mortgage payment. If you’re assuming the seller’s existing mortgage or the seller is “carrying back” a second deed of trust, those terms would be spelled out as well.Having your financing pre-approved before you make an offer gives you an enormous step up, but other necessary items in the loan process — appraisal and homeowner's insurance — can cause the deal to fall apart.
How Appraisals Affect You
Your mortgage lender will require an appraisal of the property before issuing the loan. Most lenders require that the loan-to-value ratio be no greater than 80 percent. That is, the bank usually will not lend more than 80 percent of the appraised value. If the appraisal comes in lower than the purchase price you’ve agreed to, you may suddenly find yourself several thousand dollars short of needed cash at closing.If the purchase price is in line with strong CMA numbers, you could ask the mortgage lender to have another appraisal done or to override the appraisal value and issue the original amount you requested. If that doesn’t work, a properly written appraisal contingency clause would allow you to renegotiate the purchase price so that it matches the appraisal, or to cancel the offer and get your deposit back.
Homeowner's Insurance
To protect their investment, lenders require you to carry fire and hazard insurance. If you don’t have insurance in place before closing, the lender won’t come through with your loan. If you don’t purchase your own policy, you will have to pay for the more expensive one the lender will take out for you. Failure to pay insurance premiums will result in foreclosure.In certain parts of the country, lenders will require additional coverage for events — hurricanes, floods, earthquakes — excluded from ordinary policies. If your house is in a labeled flood zone, you will need to take out special flood insurance. This is sometimes available from the federal government’s National Flood Insurance Program. Earthquake insurance is sometimes difficult to come by, so if you need it and can’t find it, contact your state insurance commission.To avoid last-minute problems, apply for homeowners insurance as soon as the purchase contract is signed. Get price quotes from at least three companies and have the policy delivered to the escrow company or closing agent a few days before the scheduled close.Make the purchase contingent upon a satisfactory Comprehensive Loss Underwriting Exchange (CLUE) report, or upon your being able to obtain affordable insurance. Your agent may need to attach a rider or an addendum to the purchase contract.
Don’t Be CLUE-less
Insurance companies have lately been running the equivalent of credit reports on properties to see how often these homes have been involved in insurance claims. If the home you wish to buy is deemed a bad insurance risk, you may be unable to get insurance at all or else have to pay much higher rates.One way to guard against this situation is to ask the seller for a CLUE home seller’s disclosure report. CLUE, or Comprehensive Loss Underwriting Exchange, is a national database containing more than 40 million personal property insurance claims. The CLUE report for the house you wish to purchase will show all claims reported over a five-year period. This will show the date, type of loss, and amount paid for claims such as water damage, mold, and fires.Only the homeowner or the insurance company can request the CLUE report, so you need to request it from the seller.
Sale of Buyer’s Property
This is a contingency some buyers might feel safe in waiving if they’ve got a buyer for their other property. However, if you need the proceeds from this sale in order to close on your new home and the other sale has not yet closed, you’d be wise to leave the contingency in place. Otherwise, you could lose your deposit if your other deal falls through and you can’t close on the new house. But recognize that this makes your offer much weaker to the seller.
Satisfactory Survey
A clause making the purchase contingent on a satisfactory survey ensures that you know whether any structures of your new home encroach on your neighbor’s property or vice versa. Your mortgage lender may want a valid survey as well. The question of who pays for it may be negotiated between you and the seller. If you’re thinking of installing a major improvement such as a swimming pool or replacing a chain link fence with a beautiful rock wall, you will definitely want to know precisely where your property lines are. You will also want the seller to obtain written statements from any neighbors with whom there are encroachments that have previously been accepted.
Clear Title and Other Claims
The title insurance company is charged with researching the title on your property to determine that you will have clear ownership and that there are no outstanding claims against the property. The most common type of lien against real estate is a mortgage, but liens for unpaid work performed on the property also occur. If you are purchasing a home from an estate, make sure that the estate has paid all estate taxes. If the estate defaults, the IRS can and will come after the new owner (that would be you) for delinquent estate taxes; the estate tax lien lasts 10 years. However, if you have title insurance, the insurance company will have to foot that bill.Buyer's Tip: Pay attention to the "exclusions" in your title insurance policy. They might make you wonder what the title insurance policy does cover. In general, it covers anything that is legally recorded, and excludes anything that is "on the ground" (e.g., a fence that crosses the property boundary). It's the latter that could get you in trouble later on. If you see anything that makes you wonder about the property lines, ask for a survey paid for by the seller.
Condominium Documents
If you’re buying a condo, you will at some point be handed a thick packet of documents from the condo association detailing the condo rules and regulations, covenants, and financial documents. Your purchase can be contingent on your approval of these documents.
Review Contingency
You can include a clause specifying that the purchase contract is subject to the review and approval of your attorney or subject to the approval of your spouse after he or she has had a chance to see the house in person. Review contingencies are often used to give you an out if you suddenly realize you’ve made a bad mistake. In some cases, you can also include a "neighborhood review" as a contingency, meaning that you have a certain amount of time to ask questions of neighbors and hang out in the area until you are satisfied it's where you want to live.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Keeping Track of Due Dates
A useful tool during the weeks leading up to closing is a calendar or schedule that reminds you of dates by when certain tasks must be completed. Contingency clauses also specify when and how notice of cancellation must be given and received. Your real estate agent and the escrow company handling the transaction should be staying on top of this schedule, but it will help if you keep an eye on it as well. The others are juggling many schedules; this one is your baby.Contingencies are a double-edged sword. Some of them are designed to protect you from major disaster, letting you cancel the contract without penalty. By the same token, of course, the seller is allowed to rescind the contract if you don’t meet your obligations.
Disclosure Requirements
Many states now require sellers to give buyers a completed disclosure form within a few days of both parties having signed the purchase contract. Often the form contains a statement that the seller knows that the buyer is relying on the form's contents. Some real estate companies require seller disclosures, and agents can be held legally responsible for not disclosing defects to buyers.Even where disclosure is voluntary and even if the sale is deemed “as-is,” sellers must disclose all material problems and defects that would affect the value of the home and the buyer’s decision to purchase.The disclosure statement covers everything from roofs, appliances, plumbing, and termites to environmental hazards (abandoned oil or septic tanks, for example) and zoning changes or assessments that might affect the cost of living. If the property is in an earthquake hazard zone, flood zone, or other area where government regulations apply special building restrictions and requirements, that must be disclosed as well.The seller must declare whether or not he or she has knowledge of any of these problems or others such as past water or fire damage, even if repaired.If you have not received a disclosure form by the deadline, you have the right to cancel the contract and get your deposit back. Once you receive the disclosure form, you have a limited time to decide what you want to do, including rescinding your offer.
The Financing Contingency
Perhaps the most essential contingency clause for most buyers is financing. This makes the offer conditional upon your getting a mortgage for the amount and at the terms you specified in the offer, including the interest rate, whether the rate is fixed or adjustable, the duration of the loan, and the amount of the monthly mortgage payment. If you’re assuming the seller’s existing mortgage or the seller is “carrying back” a second deed of trust, those terms would be spelled out as well.Having your financing pre-approved before you make an offer gives you an enormous step up, but other necessary items in the loan process — appraisal and homeowner's insurance — can cause the deal to fall apart.
How Appraisals Affect You
Your mortgage lender will require an appraisal of the property before issuing the loan. Most lenders require that the loan-to-value ratio be no greater than 80 percent. That is, the bank usually will not lend more than 80 percent of the appraised value. If the appraisal comes in lower than the purchase price you’ve agreed to, you may suddenly find yourself several thousand dollars short of needed cash at closing.If the purchase price is in line with strong CMA numbers, you could ask the mortgage lender to have another appraisal done or to override the appraisal value and issue the original amount you requested. If that doesn’t work, a properly written appraisal contingency clause would allow you to renegotiate the purchase price so that it matches the appraisal, or to cancel the offer and get your deposit back.
Homeowner's Insurance
To protect their investment, lenders require you to carry fire and hazard insurance. If you don’t have insurance in place before closing, the lender won’t come through with your loan. If you don’t purchase your own policy, you will have to pay for the more expensive one the lender will take out for you. Failure to pay insurance premiums will result in foreclosure.In certain parts of the country, lenders will require additional coverage for events — hurricanes, floods, earthquakes — excluded from ordinary policies. If your house is in a labeled flood zone, you will need to take out special flood insurance. This is sometimes available from the federal government’s National Flood Insurance Program. Earthquake insurance is sometimes difficult to come by, so if you need it and can’t find it, contact your state insurance commission.To avoid last-minute problems, apply for homeowners insurance as soon as the purchase contract is signed. Get price quotes from at least three companies and have the policy delivered to the escrow company or closing agent a few days before the scheduled close.Make the purchase contingent upon a satisfactory Comprehensive Loss Underwriting Exchange (CLUE) report, or upon your being able to obtain affordable insurance. Your agent may need to attach a rider or an addendum to the purchase contract.
Don’t Be CLUE-less
Insurance companies have lately been running the equivalent of credit reports on properties to see how often these homes have been involved in insurance claims. If the home you wish to buy is deemed a bad insurance risk, you may be unable to get insurance at all or else have to pay much higher rates.One way to guard against this situation is to ask the seller for a CLUE home seller’s disclosure report. CLUE, or Comprehensive Loss Underwriting Exchange, is a national database containing more than 40 million personal property insurance claims. The CLUE report for the house you wish to purchase will show all claims reported over a five-year period. This will show the date, type of loss, and amount paid for claims such as water damage, mold, and fires.Only the homeowner or the insurance company can request the CLUE report, so you need to request it from the seller.
Sale of Buyer’s Property
This is a contingency some buyers might feel safe in waiving if they’ve got a buyer for their other property. However, if you need the proceeds from this sale in order to close on your new home and the other sale has not yet closed, you’d be wise to leave the contingency in place. Otherwise, you could lose your deposit if your other deal falls through and you can’t close on the new house. But recognize that this makes your offer much weaker to the seller.
Satisfactory Survey
A clause making the purchase contingent on a satisfactory survey ensures that you know whether any structures of your new home encroach on your neighbor’s property or vice versa. Your mortgage lender may want a valid survey as well. The question of who pays for it may be negotiated between you and the seller. If you’re thinking of installing a major improvement such as a swimming pool or replacing a chain link fence with a beautiful rock wall, you will definitely want to know precisely where your property lines are. You will also want the seller to obtain written statements from any neighbors with whom there are encroachments that have previously been accepted.
Clear Title and Other Claims
The title insurance company is charged with researching the title on your property to determine that you will have clear ownership and that there are no outstanding claims against the property. The most common type of lien against real estate is a mortgage, but liens for unpaid work performed on the property also occur. If you are purchasing a home from an estate, make sure that the estate has paid all estate taxes. If the estate defaults, the IRS can and will come after the new owner (that would be you) for delinquent estate taxes; the estate tax lien lasts 10 years. However, if you have title insurance, the insurance company will have to foot that bill.Buyer's Tip: Pay attention to the "exclusions" in your title insurance policy. They might make you wonder what the title insurance policy does cover. In general, it covers anything that is legally recorded, and excludes anything that is "on the ground" (e.g., a fence that crosses the property boundary). It's the latter that could get you in trouble later on. If you see anything that makes you wonder about the property lines, ask for a survey paid for by the seller.
Condominium Documents
If you’re buying a condo, you will at some point be handed a thick packet of documents from the condo association detailing the condo rules and regulations, covenants, and financial documents. Your purchase can be contingent on your approval of these documents.
Review Contingency
You can include a clause specifying that the purchase contract is subject to the review and approval of your attorney or subject to the approval of your spouse after he or she has had a chance to see the house in person. Review contingencies are often used to give you an out if you suddenly realize you’ve made a bad mistake. In some cases, you can also include a "neighborhood review" as a contingency, meaning that you have a certain amount of time to ask questions of neighbors and hang out in the area until you are satisfied it's where you want to live.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Saturday, October 25, 2008
Explaining Escrow for Buyers
Escrow is not an everyday word for most of us. In fact, it’s a confusing word because in a real estate transaction it has several meanings.
Weeks ago when you made an offer on your new home, you wrote an earnest money check that was to be placed in “escrow,” which meant it was to be given to an impartial third party while you and the seller negotiated a purchase contract. A real estate agent probably took care of creating this escrow.
Now your lender is talking about creating an “escrow” account, also called a “reserve” or “impound” account, where money for property taxes and homeowner’s insurance will be held. The lender may have an in-house department that handles this type of escrow.
Even more confusing is that the “closing of escrow” is being described by someone called an escrow officer.
All of the above are accurate uses of the word. An escrow is something of value such as your earnest money check, or documents such as your purchase and sales agreement, that are given to an impartial third party to hold until specific conditions are met. When everything is finished — everybody paid and the deed recorded with the county, the escrow will close.If you remember nothing else about the word escrow, remember the concept of the impartial third party — someone with nothing to gain or lose from your real estate transaction. Depending on where you live, that third party — an escrow agent, title agent, or closing attorney — is the person handling your escrow process.They will juggle all incoming paperwork and money from buyers, sellers, agents, lenders, and assorted others. They will arrange the title search, give each party instructions, schedule the closing meeting, disburse all funds, and see to it that everything that needs to be recorded with the county is completed.
Hold-Back of Funds
There are circumstances when funds will continue to be held in escrow after the ownership transfers to the buyer.For example, perhaps you’ve agreed to let the seller’s family stay in the house for another week until school is out. You signed a “rent back” agreement, and under its terms the seller is paying you a daily rate to stay in the house. You likely were advised to have the escrow agent hold back a portion of the seller’s proceeds until they’ve moved out and left the house in the condition specified in your contract. Or perhaps you found something wrong on your final walk through the house. The seller agreed to make the repair, but the work couldn’t be completed by closing day. Money is then held back in escrow to cover the cost.If you’re purchasing a new home, it is quite common to have funds held back in escrow until unfinished work is complete.
Close of Escrow
When buyer and seller have signed all the paperwork and all the funds have come in, the closing agent disburses the funds and oversees the recording of the documents with the county.When the deed is filed, title to the property is transferred to you, the new owner. The deal is complete. The escrow is closed.You and the seller will receive a final closing statement and other documents in the mail. Check the statement carefully and call the closing agent immediately if you spot an error. File the statement with your most important papers. You’ll need it when you file your next income tax return.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Weeks ago when you made an offer on your new home, you wrote an earnest money check that was to be placed in “escrow,” which meant it was to be given to an impartial third party while you and the seller negotiated a purchase contract. A real estate agent probably took care of creating this escrow.
Now your lender is talking about creating an “escrow” account, also called a “reserve” or “impound” account, where money for property taxes and homeowner’s insurance will be held. The lender may have an in-house department that handles this type of escrow.
Even more confusing is that the “closing of escrow” is being described by someone called an escrow officer.
All of the above are accurate uses of the word. An escrow is something of value such as your earnest money check, or documents such as your purchase and sales agreement, that are given to an impartial third party to hold until specific conditions are met. When everything is finished — everybody paid and the deed recorded with the county, the escrow will close.If you remember nothing else about the word escrow, remember the concept of the impartial third party — someone with nothing to gain or lose from your real estate transaction. Depending on where you live, that third party — an escrow agent, title agent, or closing attorney — is the person handling your escrow process.They will juggle all incoming paperwork and money from buyers, sellers, agents, lenders, and assorted others. They will arrange the title search, give each party instructions, schedule the closing meeting, disburse all funds, and see to it that everything that needs to be recorded with the county is completed.
Hold-Back of Funds
There are circumstances when funds will continue to be held in escrow after the ownership transfers to the buyer.For example, perhaps you’ve agreed to let the seller’s family stay in the house for another week until school is out. You signed a “rent back” agreement, and under its terms the seller is paying you a daily rate to stay in the house. You likely were advised to have the escrow agent hold back a portion of the seller’s proceeds until they’ve moved out and left the house in the condition specified in your contract. Or perhaps you found something wrong on your final walk through the house. The seller agreed to make the repair, but the work couldn’t be completed by closing day. Money is then held back in escrow to cover the cost.If you’re purchasing a new home, it is quite common to have funds held back in escrow until unfinished work is complete.
Close of Escrow
When buyer and seller have signed all the paperwork and all the funds have come in, the closing agent disburses the funds and oversees the recording of the documents with the county.When the deed is filed, title to the property is transferred to you, the new owner. The deal is complete. The escrow is closed.You and the seller will receive a final closing statement and other documents in the mail. Check the statement carefully and call the closing agent immediately if you spot an error. File the statement with your most important papers. You’ll need it when you file your next income tax return.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Friday, October 24, 2008
Homeowner's Insurance for the Buyer
Ready to buy a home? One of the lender’s conditions for loaning you money is that you buy a homeowner’s insurance policy, also called hazard insurance. You must bring proof to closing that you have insurance in effect and that it’s paid for 12 months, or your loan won’t close.
What is proof? Your policy declarations page, which shows the time your insurance went into effect, the policy period, and the cost for 12 months. So bring either your whole policy or just the declarations page to closing. In addition, you’ll need a receipt or letter from the insurance company to prove you’ve paid the bill.
It's Just Protection
The reason the lender requires insurance is to protect his interest if catastrophe strikes. For example, if your home is destroyed by fire, he knows the mortgage will be repaid from the insurance proceeds.But even if you didn’t have a lender, you should insure your home. It’s a major investment that contains all your worldly possessions. Just imagine what it would cost to replace them.You also need to protect yourself against lawsuits if someone is injured or worse on your property. Let’s say you hire a neighbor kid to help you clean debris from the roof after a windstorm and he falls off and breaks an arm and ankle. If his parents are the type to file a lawsuit, perhaps claiming his future athletic career just ended, you could find yourself needing an attorney and fighting for your very house and retirement savings.
Where It Is
So how do you find the insurance to protect yourself and all you own? Many companies offer homeowner’s insurance. You will need to research and follow through on it prior to closing your home purchase.
Ask family, friends, and co-workers for insurance company references. Also ask what their experience has been. We’ve all heard stories about someone making a claim against a policy only to find their rates shooting up or the policy cancelled.
Contact your state insurance office, which may have helpful consumer materials including information on consumer complaints.
Explore online sources of information describing ways to save on your homeowner’s policy. Discounts are given for many reasons, including having smoke and burglar alarms and having more than one policy with the same company — auto insurance, for example.
Know what insurance you need. The experts agree on these basics:
Your best bet is guaranteed replacement cost coverage, not an actual cash value replacement policy. An actual cash value policy covers the value at a depreciated rate.
Ask about and understand the personal property protection offered. You may be able to get a personal property replacement guarantee as part of your basic policy. If not, ask if the company offers that feature as an add-on, called a rider. Again, the value of your used possessions is less than the cost of replacing them.
The amount of liability coverage you need depends on your personal worth and circumstances. The more you’re worth, which is to say the deeper your pockets, the more you have to lose if you’re sued. Some experts say you need coverage equal to double your assets. There are excess-liability policies available for those who need the protection.
Some possessions may need to be insured on separate riders. Say, for example, that you inherited a collection of antique tea cups that appraise at $50,000. They need a separate rider.
Standard homeowner policies do not insure against floods, earthquakes, hurricanes, or wildfires, among other things. If your house is in a flood plain, your lender will require flood insurance. Otherwise, specific hazard insurance is up to you and will require riders separate from your basic policy.
Buyer's Tip: You need to do research and buy homeowner’s insurance far enough in advance that it is in effect by closing day and you have proof in hand.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
What is proof? Your policy declarations page, which shows the time your insurance went into effect, the policy period, and the cost for 12 months. So bring either your whole policy or just the declarations page to closing. In addition, you’ll need a receipt or letter from the insurance company to prove you’ve paid the bill.
It's Just Protection
The reason the lender requires insurance is to protect his interest if catastrophe strikes. For example, if your home is destroyed by fire, he knows the mortgage will be repaid from the insurance proceeds.But even if you didn’t have a lender, you should insure your home. It’s a major investment that contains all your worldly possessions. Just imagine what it would cost to replace them.You also need to protect yourself against lawsuits if someone is injured or worse on your property. Let’s say you hire a neighbor kid to help you clean debris from the roof after a windstorm and he falls off and breaks an arm and ankle. If his parents are the type to file a lawsuit, perhaps claiming his future athletic career just ended, you could find yourself needing an attorney and fighting for your very house and retirement savings.
Where It Is
So how do you find the insurance to protect yourself and all you own? Many companies offer homeowner’s insurance. You will need to research and follow through on it prior to closing your home purchase.
Ask family, friends, and co-workers for insurance company references. Also ask what their experience has been. We’ve all heard stories about someone making a claim against a policy only to find their rates shooting up or the policy cancelled.
Contact your state insurance office, which may have helpful consumer materials including information on consumer complaints.
Explore online sources of information describing ways to save on your homeowner’s policy. Discounts are given for many reasons, including having smoke and burglar alarms and having more than one policy with the same company — auto insurance, for example.
Know what insurance you need. The experts agree on these basics:
Your best bet is guaranteed replacement cost coverage, not an actual cash value replacement policy. An actual cash value policy covers the value at a depreciated rate.
Ask about and understand the personal property protection offered. You may be able to get a personal property replacement guarantee as part of your basic policy. If not, ask if the company offers that feature as an add-on, called a rider. Again, the value of your used possessions is less than the cost of replacing them.
The amount of liability coverage you need depends on your personal worth and circumstances. The more you’re worth, which is to say the deeper your pockets, the more you have to lose if you’re sued. Some experts say you need coverage equal to double your assets. There are excess-liability policies available for those who need the protection.
Some possessions may need to be insured on separate riders. Say, for example, that you inherited a collection of antique tea cups that appraise at $50,000. They need a separate rider.
Standard homeowner policies do not insure against floods, earthquakes, hurricanes, or wildfires, among other things. If your house is in a flood plain, your lender will require flood insurance. Otherwise, specific hazard insurance is up to you and will require riders separate from your basic policy.
Buyer's Tip: You need to do research and buy homeowner’s insurance far enough in advance that it is in effect by closing day and you have proof in hand.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Basic Mortgage Questions
Wait -- we see your cursor drifting towards the big red X button! Mortgages are probably the most crucial piece to buying, selling, or just plain owning a home. And, honestly, they are not as hard to understand as you might think. You can benefit from the experience of others who have mortgages (which is just about everybody you know), and with a little homework, you can make the best financial decisions.
1.) What is a mortgage?
It’s pretty simple: A mortgage loan is a loan, with your house and land used as security; if you don’t pay back the loan, the lender forecloses on your home. The loan is secured by a lien (the "mortgage") against the property (your house and land). The lender doesn't own the house, you do. They just have the lien with your house as their collateral (i.e. the security).When you are looking for a first mortgage, there are two things to think about: what you can actually afford, and what you can borrow. Why are they different? Because the lender is not going to look at how much you spend in a month on gourmet wine or movies, or how comfortable you'll be with a big payment. They may be willing to loan you much more than you think you can spend on your mortgage. Only you know how much flexibility or not that your lifestyle has, which determines how much you can afford in a home. A lender looks at your income (and income potential) vs. your debt, as well as your savings and credit history. Then they determine how big a risk you'd be for the lender to take on. They're also going to look at the value of the house you want to buy, and the interest rate of the loan you'll be getting. And then they arrive at a loan amount their firm can live with. In a perfect world it will match (or exceed) what you need to bridge the gap between your down payment and the price of the house you want.
2.) Why are there so many kinds of mortgages! How will I ever figure it out?
When it comes to looking at mortgage types, ask yourself one giant question: What is your goal? Will you be in this new home when the grandkids come to play, or is this a starter home that you'll trade up in the next five years? The answer to that question will help narrow your mortgage choices.
3.) Why does my length of time in the house matter?
It matters for two reasons: It will determine which type of loan is better for you, and it will dictate whether you look hardest at interest rates or at points.If you are going to stay in your house and plan to pay off your mortgage over its lifetime, you can get a fixed rate loan where the payments will not change. (Of course, taxes and insurance are usually included in this type of loan and they might change.) The interest is a little higher than with an Adjustable Rate Mortgage but you have the security of knowing what your loan payments will be.But if you know you won't be in the house long, you can get a lower interest rate on an ARM. If rates take a big jump in a few years, it won't matter because you're planning on selling then anyway. You'll also have the option of a hybrid ARM that is fixed for, say, five years, and then adjusts annually.The lender may charge points, and required third parties charge for their services, which increases the cost of the loan. If you sell your home in a few years and have paid points to get a better interest rate, you may not recoup the cost of those fees. And your equity in the house will be minimal, but you are betting the home will appreciate enough to cover the fees, or that the money you save in interest will balance out the additional cost of the loan. (If you stay in the house longer than you expect, you take the risk that you can't afford the higher payments as the interest rates adjust, or you risk not being able to refinance.)There's no free lunch (or free loan): You can choose between higher rates with lower points, or lower rates with higher points. The key is to compare different types of loans to see what works for your needs.Tip: In general, you should never pay more than 1 to 1-1/2 points to a lender, depending on the loan. (In certain circumstances, you might pay 2 percent, but only if there is a good reason; e.g., bad credit, complex loan, or you are buying a great interest rate.) You should discuss with an independent mortgage professional the effect discount point have on your rate. If your holding time is less than five years, you might consider "negative points" or receiving a credit from yield spread premium for your closing costs.
4.) Where can I find today’s rates?
Lenders and your local bank will have the latest rates for each type of loan. Shop around for rates in your city to see who is offering the best deal locally. Looking at the advertised rates will not tell you which loan you qualify for and often times the lowest rates ("teaser rates") can be misleading, so you should investigate several lenders.
5.) Why are some rates shown as a percentage and as an APR too?
The Annual Percentage Rate is what you will actually end up paying in addition to the principal. It wraps up the interest, points and fees in an effective annual rate. (When a lender quotes you a rate, it will be for interest only, so ask to see the APR.) As above, when you are using the APR to compare loans, make sure you are comparing apples to apples. You need the same loan from different lenders to make the comparison work.Tip: Compare the APR on two identical loans and choose the one with the lesser rate. Does this seem confusing? Take a look at the resources at the bottom of this article or seek independent mortgage advice.
6.) What is amortization?
It is a true measure of what you are paying per year against your loan. A loan has a life -- whether it's 15, 30, or even 50 years. You pay in installments, and the principal decreases (except in the case of interest-only loans or negative amortization) until the loan is paid off by the end of the term. The payments are evenly spread over the life of the loan, with the interest payments the majority of the payment at the beginning, and then principal paid off toward the end of the term. Pay attention to the amortization schedule, which shows the payments for the life of the loan including interest.Tip: Pay half your house payment every two weeks instead of one monthly payment. This results in 26 payments per year, one more payment annually than if you just paid monthly. The re-amortized loan will eventually result in more of the payment paid on principal and less on interest. The extra payments go to pay down the principal on the loan.
7.) I keep hearing that ARM rates are tied to an index. What's that?
Fasten your seatbelt. This can get complicated.An ARM loan's interest rate is determined by an index, which adjusts periodically, plus a pre-set margin (e.g., Prime plus 2). In general, you want to understand this because some indexes change faster than others. The more change, the more fluctuation in the ARM. Most buyers want to choose an ARM based on a stable index (especially if you suspect the economy is less than booming), or at least consider it along with all the other aspects of the loan. Ask your lender to fill you in on how the index works for your loan.Some popular indexes include:
T-Bills, the federal government's treasury bill index; the most commonly used
LIBOR (London Interbank Offered Rate Index), based on international rates
COFI (11th District Cost of Funds Index), based on a moving average of rates
Prime Lending Rate
8.) What else should I watch out for?
Prepayment penalties. Think it's a good thing to pay off a loan? Well, it might be, but certain lenders charge a penalty if you do. Penalties apply for a specific period of time, usually 1, 2, or 3 years after the loan is originated. How much is the penalty? Could be six months of interest or 2 percent of the principal remaining on the loan, but it varies.You might think that it’s stupid to get a loan with a prepayment penalty, but some lenders offer very low (and therefore tempting) interest rates in exchange. Also, some borrowers agree to loans with penalties if they have bad credit and it's the only way they can get the loan. Mostly, a prepayment penalty is a financial decision. There are situations where accepting a prepayment penalty on a loan can save you thousands of dollars in interest.
9.) What's a traditional vs. non-traditional loan?
Lenders are creative when it comes to loans to enable people to own a home. That sounds very American, but sometimes the loans are issued regardless of a buyer's ability to pay. Recently, when the housing market was hot, non-traditional loans sprouted up like dandelions in your front lawn.
Non-traditional loans include:
Interest only loans mean the buyer pays no principal and only interest for a period of time. Payments are low because the buyer is not paying anything down on the principal, though he can if he wants (though few do). If this is a short-term loan, buyers can benefit from the reduced payments -- it enables them to borrow more in the loan amount. But it all depends on the length of the interest-only period; the shorter the better.
Payment-option ARMs let the buyer choose from a selection of payments: negative amortization, interest only, or fully amortized. The buyer has to be careful not to pile up an even higher debt by always choosing the lowest payment.
Zero-down loans do not require a down payment, so the loan amount, as a percentage of the purchase price, is usually higher than the Fannie Mae guidelines; if the borrower gets a second mortgage to cover the amount above the guidelines, it's called a "piggyback loan" or a "purchase money second mortgage." Ditto if the borrower does not have enough for a down payment, and gets two mortgages instead. (See Understanding Mortgage Types.)
Home Ownership Accelerator Loan Products are mortgage products (or software) that promise to accelerate your mortgage payoff; many times promising that you do not have to change your spending habits! Buyer beware; these products require a high degree of financial dicipline and adequate discretionary cash flow. Please seek independent mortgage advice before applying for any type of home ownership accelerator loan.
Traditional loans are those where the principal and interest are paid in an agreed-upon payment schedule, with a down payment that fits within the usual parameters. Fixed and conventional ARM loans fall into that description.
10.) What's mortgage insurance? Do I need it?
If you are making a down payment of less than 20 percent, you will most likely have to get Private Mortgage Insurance (or PMI). It ensures that the lender is guaranteed, by the mortgage insurer, 80 percent of the loan if you default. The insurance premium amount varies by the loan to value of the house and type of loan. Another option is to get a second mortgage to use for part of the down payment. For example, you can get an 80/10/10 loan (80 percent loan, 10 percent second mortgage, and 10 percent down) or a variation thereof and avoid paying PMI.Government loan programs, such as FHA or VA loans, are backed by the government rather than PMI. There is no monthly mortgage insurance on VA loans, however you will have monthly mortgage insurance on a new FHA loan.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
1.) What is a mortgage?
It’s pretty simple: A mortgage loan is a loan, with your house and land used as security; if you don’t pay back the loan, the lender forecloses on your home. The loan is secured by a lien (the "mortgage") against the property (your house and land). The lender doesn't own the house, you do. They just have the lien with your house as their collateral (i.e. the security).When you are looking for a first mortgage, there are two things to think about: what you can actually afford, and what you can borrow. Why are they different? Because the lender is not going to look at how much you spend in a month on gourmet wine or movies, or how comfortable you'll be with a big payment. They may be willing to loan you much more than you think you can spend on your mortgage. Only you know how much flexibility or not that your lifestyle has, which determines how much you can afford in a home. A lender looks at your income (and income potential) vs. your debt, as well as your savings and credit history. Then they determine how big a risk you'd be for the lender to take on. They're also going to look at the value of the house you want to buy, and the interest rate of the loan you'll be getting. And then they arrive at a loan amount their firm can live with. In a perfect world it will match (or exceed) what you need to bridge the gap between your down payment and the price of the house you want.
2.) Why are there so many kinds of mortgages! How will I ever figure it out?
When it comes to looking at mortgage types, ask yourself one giant question: What is your goal? Will you be in this new home when the grandkids come to play, or is this a starter home that you'll trade up in the next five years? The answer to that question will help narrow your mortgage choices.
3.) Why does my length of time in the house matter?
It matters for two reasons: It will determine which type of loan is better for you, and it will dictate whether you look hardest at interest rates or at points.If you are going to stay in your house and plan to pay off your mortgage over its lifetime, you can get a fixed rate loan where the payments will not change. (Of course, taxes and insurance are usually included in this type of loan and they might change.) The interest is a little higher than with an Adjustable Rate Mortgage but you have the security of knowing what your loan payments will be.But if you know you won't be in the house long, you can get a lower interest rate on an ARM. If rates take a big jump in a few years, it won't matter because you're planning on selling then anyway. You'll also have the option of a hybrid ARM that is fixed for, say, five years, and then adjusts annually.The lender may charge points, and required third parties charge for their services, which increases the cost of the loan. If you sell your home in a few years and have paid points to get a better interest rate, you may not recoup the cost of those fees. And your equity in the house will be minimal, but you are betting the home will appreciate enough to cover the fees, or that the money you save in interest will balance out the additional cost of the loan. (If you stay in the house longer than you expect, you take the risk that you can't afford the higher payments as the interest rates adjust, or you risk not being able to refinance.)There's no free lunch (or free loan): You can choose between higher rates with lower points, or lower rates with higher points. The key is to compare different types of loans to see what works for your needs.Tip: In general, you should never pay more than 1 to 1-1/2 points to a lender, depending on the loan. (In certain circumstances, you might pay 2 percent, but only if there is a good reason; e.g., bad credit, complex loan, or you are buying a great interest rate.) You should discuss with an independent mortgage professional the effect discount point have on your rate. If your holding time is less than five years, you might consider "negative points" or receiving a credit from yield spread premium for your closing costs.
4.) Where can I find today’s rates?
Lenders and your local bank will have the latest rates for each type of loan. Shop around for rates in your city to see who is offering the best deal locally. Looking at the advertised rates will not tell you which loan you qualify for and often times the lowest rates ("teaser rates") can be misleading, so you should investigate several lenders.
5.) Why are some rates shown as a percentage and as an APR too?
The Annual Percentage Rate is what you will actually end up paying in addition to the principal. It wraps up the interest, points and fees in an effective annual rate. (When a lender quotes you a rate, it will be for interest only, so ask to see the APR.) As above, when you are using the APR to compare loans, make sure you are comparing apples to apples. You need the same loan from different lenders to make the comparison work.Tip: Compare the APR on two identical loans and choose the one with the lesser rate. Does this seem confusing? Take a look at the resources at the bottom of this article or seek independent mortgage advice.
6.) What is amortization?
It is a true measure of what you are paying per year against your loan. A loan has a life -- whether it's 15, 30, or even 50 years. You pay in installments, and the principal decreases (except in the case of interest-only loans or negative amortization) until the loan is paid off by the end of the term. The payments are evenly spread over the life of the loan, with the interest payments the majority of the payment at the beginning, and then principal paid off toward the end of the term. Pay attention to the amortization schedule, which shows the payments for the life of the loan including interest.Tip: Pay half your house payment every two weeks instead of one monthly payment. This results in 26 payments per year, one more payment annually than if you just paid monthly. The re-amortized loan will eventually result in more of the payment paid on principal and less on interest. The extra payments go to pay down the principal on the loan.
7.) I keep hearing that ARM rates are tied to an index. What's that?
Fasten your seatbelt. This can get complicated.An ARM loan's interest rate is determined by an index, which adjusts periodically, plus a pre-set margin (e.g., Prime plus 2). In general, you want to understand this because some indexes change faster than others. The more change, the more fluctuation in the ARM. Most buyers want to choose an ARM based on a stable index (especially if you suspect the economy is less than booming), or at least consider it along with all the other aspects of the loan. Ask your lender to fill you in on how the index works for your loan.Some popular indexes include:
T-Bills, the federal government's treasury bill index; the most commonly used
LIBOR (London Interbank Offered Rate Index), based on international rates
COFI (11th District Cost of Funds Index), based on a moving average of rates
Prime Lending Rate
8.) What else should I watch out for?
Prepayment penalties. Think it's a good thing to pay off a loan? Well, it might be, but certain lenders charge a penalty if you do. Penalties apply for a specific period of time, usually 1, 2, or 3 years after the loan is originated. How much is the penalty? Could be six months of interest or 2 percent of the principal remaining on the loan, but it varies.You might think that it’s stupid to get a loan with a prepayment penalty, but some lenders offer very low (and therefore tempting) interest rates in exchange. Also, some borrowers agree to loans with penalties if they have bad credit and it's the only way they can get the loan. Mostly, a prepayment penalty is a financial decision. There are situations where accepting a prepayment penalty on a loan can save you thousands of dollars in interest.
9.) What's a traditional vs. non-traditional loan?
Lenders are creative when it comes to loans to enable people to own a home. That sounds very American, but sometimes the loans are issued regardless of a buyer's ability to pay. Recently, when the housing market was hot, non-traditional loans sprouted up like dandelions in your front lawn.
Non-traditional loans include:
Interest only loans mean the buyer pays no principal and only interest for a period of time. Payments are low because the buyer is not paying anything down on the principal, though he can if he wants (though few do). If this is a short-term loan, buyers can benefit from the reduced payments -- it enables them to borrow more in the loan amount. But it all depends on the length of the interest-only period; the shorter the better.
Payment-option ARMs let the buyer choose from a selection of payments: negative amortization, interest only, or fully amortized. The buyer has to be careful not to pile up an even higher debt by always choosing the lowest payment.
Zero-down loans do not require a down payment, so the loan amount, as a percentage of the purchase price, is usually higher than the Fannie Mae guidelines; if the borrower gets a second mortgage to cover the amount above the guidelines, it's called a "piggyback loan" or a "purchase money second mortgage." Ditto if the borrower does not have enough for a down payment, and gets two mortgages instead. (See Understanding Mortgage Types.)
Home Ownership Accelerator Loan Products are mortgage products (or software) that promise to accelerate your mortgage payoff; many times promising that you do not have to change your spending habits! Buyer beware; these products require a high degree of financial dicipline and adequate discretionary cash flow. Please seek independent mortgage advice before applying for any type of home ownership accelerator loan.
Traditional loans are those where the principal and interest are paid in an agreed-upon payment schedule, with a down payment that fits within the usual parameters. Fixed and conventional ARM loans fall into that description.
10.) What's mortgage insurance? Do I need it?
If you are making a down payment of less than 20 percent, you will most likely have to get Private Mortgage Insurance (or PMI). It ensures that the lender is guaranteed, by the mortgage insurer, 80 percent of the loan if you default. The insurance premium amount varies by the loan to value of the house and type of loan. Another option is to get a second mortgage to use for part of the down payment. For example, you can get an 80/10/10 loan (80 percent loan, 10 percent second mortgage, and 10 percent down) or a variation thereof and avoid paying PMI.Government loan programs, such as FHA or VA loans, are backed by the government rather than PMI. There is no monthly mortgage insurance on VA loans, however you will have monthly mortgage insurance on a new FHA loan.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Saturday, October 18, 2008
Florence from the sky!
It's been a while since I've posted fresh photos of our beautiful town, the weather has been kind of un-cooperative lately, some days it's clear skies for miles and miles, some days it's raining, and some days it's both. It's OK, every day is like a surprise. Moving on, a friend of mine (who happens to be the Mayor) took a little jaunt over the hills to Eugene last weekend, and his co-pilot (Who happens to be a Pilot in training) took these fantastic pictures from the plane. I'd like to share them with you, they are simply breathtaking. Florence is indeed an amazingly beautiful town.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Friday, October 17, 2008
Are you a property pro or a real estate rookie?
With today's real estate market, it's important to stay sharp and play it smart. Take this quiz and bone up on everything from mortgages to staging. We'll tell you how your knowledge stacks up and give you tips on how to increase your expertise.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Thursday, October 16, 2008
Getting Your Home Ready for the Market
As a seller, your No. 1 goal is to sell your home as quickly as possible at or near the listing price. In today’s market, where there is much more competition for buyers, it is important to put your best foot, or in this case, home forward because first impressions are vital. Many of today’s prospective homebuyers have busy lifestyles and are looking for properties that don’t require a lot of work. Therefore a home in move-in condition is much more attractive. Before placing your home on the market, you may want to invest in making needed repairs. To get started, inspect both the inside and outside of the home. Take inventory of practical and aesthetic repairs. You may want to apply a fresh coat of paint on the walls, doors, and shutters. Clean the carpet and buff and polish wooden floors. Tighten and polish hardware. Repair cracks in sidewalks and driveways, and clean any stains on them. Replace missing or warped roofing. Clean or re-grout kitchen and bathrooms. Repair dripping faucets and drains or plumbing fixtures that aren’t operating. Fix sticking doors and replace old locks and doorknobs. Replace old bulbs and broken electrical sockets. Replace cracked windows and torn screens. Repair broken fencing and reseal the deck. Clean up stains on the tiles and countertops. Some experts also recommend hiring a certified home inspector to thoroughly and impartially evaluate the property. (For a list of inspectors in your area, visit the American Society of Home Inspectors website, www.ashi.com, or ask your real estate professional for recommendations.) A standard report will review the condition of the home’s heating system, central air conditioning, plumbing and electrical systems, the roof, attic, walls, ceilings, floors, windows and doors, the foundation, basement and visible structure. If there are recommendations for improvement, consult with your real estate professional in prioritizing the list of repairs. Depending on your goals and budget, you may want to repair only items that could cause significant deterioration to the home, such as a leak. In addition, your local market conditions may dictate how extensive your repairs need to be. Let your budget and your real estate professional guide you. However, be careful about major repairs. Sellers rarely recoup money on major remodeling projects, and you may want to save funds for your new home. A home in good condition demonstrates pride of ownership. Taking the time to make small repairs to your home can go a long way in making sure that your home is presented to potential buyers in its best possible light. They also just might make the sale.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Wednesday, October 15, 2008
Choosing the Right Community for You
If you are buying a home, one of the first things your real estate professional will do before taking you on home tours is interview you to determine the type of house you want such as a 2,000-square-foot four-bedroom, split-level with a formal dining room and two-car garage. But just as important is the type of community you want to live in. Knowing what your requirements are will help narrow your home search and save time.
To expedite the house-hunting process, start by making a list of the dream home factors that are most important to you and your family’s lifestyle. Consider style, location, proximity to work and schools, yard size, children in the community, and of course, price.
Price and location generally are the key factors you’ll use to identify the communities that best suit you. If you are moving within the same city, you may want to start your community search by getting in your car and exploring. There are also resources on the Internet that let you compare communities.
You’ll want to ask yourself critical questions, such as: Do you dream of something quaint and charming that can only be found in an older area? Or, do you prefer everything new? Are you willing to sacrifice size and space for architectural detailing? What about drive and commute time to the office and schools? Will you forgo the number of bedrooms and a big yard for proximity to a lake or other recreational areas?
Whether you have children or not, buying a home in a community with good schools is important. It not only adds value to your property, but also is an attractive feature when and if you decide to sell. There are plenty of resources available to get information about schools within the communities you are considering. Various Internet sites offer school reports and profiles. They provide statistical data such as graduation rates, college-bound percentages, and standardized test scores. You can also learn about special programs the schools offer. In addition to these reports, many schools have their own Web sites you can peruse. And of course you can always talk to people in the area or take a tour of the school.
Additional factors you’ll want to consider during your community search are crime, recreational activities, proximity to shopping and restaurants, and other specific family needs.
Once you’ve narrowed your search to two or three communities that fit your price range and lifestyle, make comparisons of price and sales activity. Your real estate professional can help you determine which communities are most sales-worthy at present, and which are more likely to continue to be.
There are many factors involved in selecting the right community for you and your family. Discuss your options with your real estate professional. This will provide the information he or she needs to help you find property listings to tour. Remember, a targeted approach to house hunting is less time consuming, less expensive and more efficient.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
To expedite the house-hunting process, start by making a list of the dream home factors that are most important to you and your family’s lifestyle. Consider style, location, proximity to work and schools, yard size, children in the community, and of course, price.
Price and location generally are the key factors you’ll use to identify the communities that best suit you. If you are moving within the same city, you may want to start your community search by getting in your car and exploring. There are also resources on the Internet that let you compare communities.
You’ll want to ask yourself critical questions, such as: Do you dream of something quaint and charming that can only be found in an older area? Or, do you prefer everything new? Are you willing to sacrifice size and space for architectural detailing? What about drive and commute time to the office and schools? Will you forgo the number of bedrooms and a big yard for proximity to a lake or other recreational areas?
Whether you have children or not, buying a home in a community with good schools is important. It not only adds value to your property, but also is an attractive feature when and if you decide to sell. There are plenty of resources available to get information about schools within the communities you are considering. Various Internet sites offer school reports and profiles. They provide statistical data such as graduation rates, college-bound percentages, and standardized test scores. You can also learn about special programs the schools offer. In addition to these reports, many schools have their own Web sites you can peruse. And of course you can always talk to people in the area or take a tour of the school.
Additional factors you’ll want to consider during your community search are crime, recreational activities, proximity to shopping and restaurants, and other specific family needs.
Once you’ve narrowed your search to two or three communities that fit your price range and lifestyle, make comparisons of price and sales activity. Your real estate professional can help you determine which communities are most sales-worthy at present, and which are more likely to continue to be.
There are many factors involved in selecting the right community for you and your family. Discuss your options with your real estate professional. This will provide the information he or she needs to help you find property listings to tour. Remember, a targeted approach to house hunting is less time consuming, less expensive and more efficient.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Tuesday, October 14, 2008
Veterans Day Parade Committee of Florence
The 3rd annual parade for 2008 will be held on Tuesday, November 11th, at 1 pm. Experience a moving moment as the sound of 'Rolling Taps' echos up Bay Street, accompanied by the silence of the crowd.For more information click here.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Monday, October 13, 2008
How to keep your gutters and downspouts flowing
Gutters and downspouts work hard to protect your house from moisture damage. If gutters leak or downspouts are clogged, water can spill out and accumulate near foundations, soaking the soil and causing foundation walls to settle. In worst-case scenarios, moisture-laden soil presses in on basement walls, causing bulging and cracking. Water can even be forced inside by means of hydrostatic pressure. Continue reading here
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Sunday, October 12, 2008
10 time-saving tips to give your backyard a head start on spring
Aaaah, autumn. The kids are headed back to school, the leaves are turning, and a chill is in the air. If you're like most homeowners, fall also means an opportunity to spruce up your yard and cut down on the work you'll need to do when the weather turns warm again.
It doesn't matter if you're a seasoned landscape professional or somebody who just wants their yard to look as good as it can with as little work as possible, everyone can benefit from backyard fall cleanup, says Michael Miller, president of Minnesota-based backyard tool manufacturer Hound Dog Products. "A little bit of work in the fall will really pay off when spring rolls around," he says.
Miller offers 10 tips that the professionals use to ensure a successful backyard fall cleanup effort - and to get a head start on next year's growing season.
Rake those leaves. Once the snow flies, an unraked layer of leaves can get matted down over the turf and smother it all winter long. Raking or using a mulching mower in the fall helps avoid dead patches in the spring. But don't worry about getting every last leaf, especially in the garden. They help insulate plants, and as they decompose, they provide valuable nutrients.
Feed the grass. Fertilizing in the fall is like a day at the spa for your lawn. Using a slow-release fertilizer allows the grass to soak up nutrients and - just as important - spend the cool days and nights of autumn recovering from summer heat and stress. And building a healthy, rejuvenated lawn is one of the best ways to protect against heat, cold, drought, insects and other stresses.
Weed all about it. Weeding in the fall is probably the most valuable thing you can do to prepare for spring, and it's one that many people overlook. The good news: Pulling weeds used to be a backbreaking chore, but tools like the Weed Hound have come a long way from the tiny weeding forks of "the good old days." There's no reason to get down on your hands and knees and gouge at the turf. All you do is place the tool over the weed, step lightly on the footrest, and pull.
Pick up the pet waste. When the snow melts next spring, the last thing you want to see on your lawn is pet waste. Fall is the perfect time to get out there and clean up Rover's little leftovers. Don't look forward to getting on your hands and knees? Hire a neighborhood kid to do the dirty work, or invest in a long-handled pooper scooper.
Remove thatch build-up. A build-up of aboveground roots called thatch prevents sunlight, oxygen and moisture from getting to the nutrient-hungry soil below. But it's easy to remove, especially if you don't wait until it overwhelms the yard. Just go at the yard with a dethatching rake in early fall, or for an easier - but more expensive - option, rent a power dethatcher.
Aerate. Heavy use throughout the summer can cause soil to become compacted. Perforating your lawn with small holes helps reduce compaction and lets water, air and fertilizer get down to the soil, which strengthens the grass plant's root structure. For smaller yards, a manual aerating tool that removes plugs from the turf while you step should be just fine. If you've got a larger yard, consider renting a power aerator.
Water trees and shrubs. Dehydration during the colder months is an all-too-common cause of tree damage, but it's easily preventable. To sustain them over the long winter, it's important to give trees a drink before putting them to bed. After they go fully dormant - but before the ground freezes - use a soaker hose or root irrigator to water them thoroughly.
Clean out your garden. Fruits and vegetables left in the garden can rot all winter long, and provide a comfy home for insect eggs. Gross? Not as gross as they'll be in the spring. Now's the time to get rid of diseased plants, too, but keep them out of the compost pile so the problem doesn't spread to the rest of your garden next year.
Plant spring bulbs. Fall is not all about closing up shop. It's also the perfect time to plant spring flowering bulbs like daffodils and tulips. But pay attention to the weather in your area; planting too early can cause bulbs to sprout before winter, and planting them too late can mean their roots don't have enough time to develop before the ground freezes.
Give your tools a tune-up. When it comes time to put away the backyard tools for the season, don't just shove them into the garage or shed. Spend a few minutes wiping them down and removing debris and dirt, then apply a light layer of oil to keep them from rusting over the winter. That way they'll be all set to go again come spring.
Old Man Winter may be on his way, but with a little work now, you can lay the groundwork for a happy, healthy backyard that's ready to thrive next season. For more backyard tips, visit www.hound-dog.com .
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
It doesn't matter if you're a seasoned landscape professional or somebody who just wants their yard to look as good as it can with as little work as possible, everyone can benefit from backyard fall cleanup, says Michael Miller, president of Minnesota-based backyard tool manufacturer Hound Dog Products. "A little bit of work in the fall will really pay off when spring rolls around," he says.
Miller offers 10 tips that the professionals use to ensure a successful backyard fall cleanup effort - and to get a head start on next year's growing season.
Rake those leaves. Once the snow flies, an unraked layer of leaves can get matted down over the turf and smother it all winter long. Raking or using a mulching mower in the fall helps avoid dead patches in the spring. But don't worry about getting every last leaf, especially in the garden. They help insulate plants, and as they decompose, they provide valuable nutrients.
Feed the grass. Fertilizing in the fall is like a day at the spa for your lawn. Using a slow-release fertilizer allows the grass to soak up nutrients and - just as important - spend the cool days and nights of autumn recovering from summer heat and stress. And building a healthy, rejuvenated lawn is one of the best ways to protect against heat, cold, drought, insects and other stresses.
Weed all about it. Weeding in the fall is probably the most valuable thing you can do to prepare for spring, and it's one that many people overlook. The good news: Pulling weeds used to be a backbreaking chore, but tools like the Weed Hound have come a long way from the tiny weeding forks of "the good old days." There's no reason to get down on your hands and knees and gouge at the turf. All you do is place the tool over the weed, step lightly on the footrest, and pull.
Pick up the pet waste. When the snow melts next spring, the last thing you want to see on your lawn is pet waste. Fall is the perfect time to get out there and clean up Rover's little leftovers. Don't look forward to getting on your hands and knees? Hire a neighborhood kid to do the dirty work, or invest in a long-handled pooper scooper.
Remove thatch build-up. A build-up of aboveground roots called thatch prevents sunlight, oxygen and moisture from getting to the nutrient-hungry soil below. But it's easy to remove, especially if you don't wait until it overwhelms the yard. Just go at the yard with a dethatching rake in early fall, or for an easier - but more expensive - option, rent a power dethatcher.
Aerate. Heavy use throughout the summer can cause soil to become compacted. Perforating your lawn with small holes helps reduce compaction and lets water, air and fertilizer get down to the soil, which strengthens the grass plant's root structure. For smaller yards, a manual aerating tool that removes plugs from the turf while you step should be just fine. If you've got a larger yard, consider renting a power aerator.
Water trees and shrubs. Dehydration during the colder months is an all-too-common cause of tree damage, but it's easily preventable. To sustain them over the long winter, it's important to give trees a drink before putting them to bed. After they go fully dormant - but before the ground freezes - use a soaker hose or root irrigator to water them thoroughly.
Clean out your garden. Fruits and vegetables left in the garden can rot all winter long, and provide a comfy home for insect eggs. Gross? Not as gross as they'll be in the spring. Now's the time to get rid of diseased plants, too, but keep them out of the compost pile so the problem doesn't spread to the rest of your garden next year.
Plant spring bulbs. Fall is not all about closing up shop. It's also the perfect time to plant spring flowering bulbs like daffodils and tulips. But pay attention to the weather in your area; planting too early can cause bulbs to sprout before winter, and planting them too late can mean their roots don't have enough time to develop before the ground freezes.
Give your tools a tune-up. When it comes time to put away the backyard tools for the season, don't just shove them into the garage or shed. Spend a few minutes wiping them down and removing debris and dirt, then apply a light layer of oil to keep them from rusting over the winter. That way they'll be all set to go again come spring.
Old Man Winter may be on his way, but with a little work now, you can lay the groundwork for a happy, healthy backyard that's ready to thrive next season. For more backyard tips, visit www.hound-dog.com .
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Saturday, October 11, 2008
Fall Garden Cleanup
These Garden "Gangsters" know that one of the tricks to successful gardening is a good, thorough fall cleanup. You can make the basic cleanup chores happen gradually and naturally by giving your garden the once-over every week. Click here for insider tips and tricks!
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Friday, October 10, 2008
ROCA MAR RESTAURANT & LOUNGE BUSINESS & REAL ESTATE OPPORTUNITY
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Avert Disaster: Listen to Your House!
10 red flags that signal your home's weakest links.
Just like a car that sputters when something under the hood is amiss, houses send out warnings of their own. Protect your investment not to mention your security by learning some of the warning signs and seeking out help. Be sure not to blow off the red flags: Left untreated, these small problems can become big, expensive disasters. Continue by clicking here.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Just like a car that sputters when something under the hood is amiss, houses send out warnings of their own. Protect your investment not to mention your security by learning some of the warning signs and seeking out help. Be sure not to blow off the red flags: Left untreated, these small problems can become big, expensive disasters. Continue by clicking here.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Friday, October 3, 2008
Five Tips for a Green Home
Eco-friendly. Carbon footprint. Global warming. Energy-efficient. These catch phrases have become part of our lexicon as we’ve become more aware of our impact on the environment and our role in protecting it. As a homeowner, there are some simple, inexpensive steps you can take to make your home energy-efficient. Get started on the road to being “green” with these five tips:
Change Your Light Bulbs
By replacing just five incandescent light bulbs with compact fluorescent (CFL) bulbs, you can save $100 per year on electric bills while using up to 75 percent less energy and removing greenhouse gases from the environment.
Buy ENERGY STAR® Appliances
ENERGY STAR-qualified appliances, such as refrigerators, washers and air conditioners, meet a higher level of energy efficiency set by the Environmental Protection Agency and U.S. Department of Energy than standard models. According to ENERGY STAR, if just one in 10 homes used ENERGY STAR-qualified appliances, the impact could be compared to planting 1.7 million new acres of trees. And, switching to these appliances is not only good for the environment, but easy on your pocketbook. Although these appliances may costs more, you can reduce your energy bill by $80 per year.
Seal Up
Cracks and air leaks represent cash seeping from your doors and windows. Get rid of air leaks in doors, windows and other areas by caulking gaps and cracks. This will help decrease your heating and air conditioning bill. But make sure you use silicone sealants. Acrylic caulk tends to shrink, while silicone sealants are waterproof and won’t shrink or crack, creating less waste.
Use Less Water
Did you know that roughly 60 percent of a home's water consumption takes place in the bathroom, according to the California Urban Water Conservation Council? The largest culprit is the toilet, which accounts for 27 percent of your household supply every year. By installing low-flow toilets, showerheads and faucets, you can save thousands of gallons of water each year. In addition, replace leaky fixtures. That slow-dripping faucet can waste as much as 2,400 gallons of water per year.
Adjust the Thermostat
When adjusting your home’s thermostat, the rule of thumb should be: turn up the dial in the summer and down in the winter. Lowering the temperature by just one degree will reduce your electrical costs. And if you use a programmable thermostat, you can program your air-conditioning and heating systems to reduce output while no one is at home or at night while you sleep. Ceiling fans are also helpful in circulating the air to keep the room cool in the summer and warm in the winter.
Going green doesn’t have to be overwhelming or costly. By making just a few small changes within your home, you can help decrease energy consumption and help make the world a “greener” place.
Change Your Light Bulbs
By replacing just five incandescent light bulbs with compact fluorescent (CFL) bulbs, you can save $100 per year on electric bills while using up to 75 percent less energy and removing greenhouse gases from the environment.
Buy ENERGY STAR® Appliances
ENERGY STAR-qualified appliances, such as refrigerators, washers and air conditioners, meet a higher level of energy efficiency set by the Environmental Protection Agency and U.S. Department of Energy than standard models. According to ENERGY STAR, if just one in 10 homes used ENERGY STAR-qualified appliances, the impact could be compared to planting 1.7 million new acres of trees. And, switching to these appliances is not only good for the environment, but easy on your pocketbook. Although these appliances may costs more, you can reduce your energy bill by $80 per year.
Seal Up
Cracks and air leaks represent cash seeping from your doors and windows. Get rid of air leaks in doors, windows and other areas by caulking gaps and cracks. This will help decrease your heating and air conditioning bill. But make sure you use silicone sealants. Acrylic caulk tends to shrink, while silicone sealants are waterproof and won’t shrink or crack, creating less waste.
Use Less Water
Did you know that roughly 60 percent of a home's water consumption takes place in the bathroom, according to the California Urban Water Conservation Council? The largest culprit is the toilet, which accounts for 27 percent of your household supply every year. By installing low-flow toilets, showerheads and faucets, you can save thousands of gallons of water each year. In addition, replace leaky fixtures. That slow-dripping faucet can waste as much as 2,400 gallons of water per year.
Adjust the Thermostat
When adjusting your home’s thermostat, the rule of thumb should be: turn up the dial in the summer and down in the winter. Lowering the temperature by just one degree will reduce your electrical costs. And if you use a programmable thermostat, you can program your air-conditioning and heating systems to reduce output while no one is at home or at night while you sleep. Ceiling fans are also helpful in circulating the air to keep the room cool in the summer and warm in the winter.
Going green doesn’t have to be overwhelming or costly. By making just a few small changes within your home, you can help decrease energy consumption and help make the world a “greener” place.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Thursday, October 2, 2008
Qualities of a great real estate agent
by Ilyce Glink
When shopping for a home, matching agent to your needs is vital
There are great real estate agents and terrible real estate agents. Within each category are agents whose behavior puts them at the top and bottom of the spectrum.
In other words, the best real estate agents are truly stellar. The worst agents? Well, let's just say that if you wind up with a terrible real estate agent you'll probably have war stories to share about your home purchase or sale at the next cocktail party you attend. (Unfortunately, stories about terrible real estate agents are shared more often than stories about great real estate agents.)
When hiring a real estate agent to help you buy your next home, the trick is to find one who really listens to what you have to say; who will go the extra mile to help make your purchase a little less stressful; who will help you be objective when you become emotional about plunking down the single biggest chunk of cash ever; and who can help you understand and work with local market conditions.
I suspect that most buyers spend more time thinking about the curtains they'll hang, the granite countertops they'll install, or the boxes they'll need for their move than the agent they'll hire to help with the purchase of the property itself.
Why is that? Why isn't creating a home-buying team the top priority when beginning the process of buying a home?
Perhaps it is because going through the process isn't perceived as being that much fun.
But that's where hiring a great real estate agent can make all the difference. What qualities should you look for?
The real estate agent you hire should have an intimate knowledge with your neighborhood of choice. The agent should have worked in a neighborhood for awhile, seen a lot of the housing stock, and know the history of the neighborhood, trends associated with it and where the locals hang out. The agent should know about home values and should have the ability to come to you and tell you what other homes have sold for in the neighborhood and what other homes are listed for in the same neighborhood. The agent should also have information to back up why some homes are listed for more than others and be able to represent you when you are ready to make an offer for a home. The agent should know about the school district, shopping, commuting and recreational options. He or she should basically be a wealth of information, and be able to point out the flaws as well as the outstanding features of the community.
The real estate agent you hire should be able to really listen to your wants, needs, dreams and desires, and ask questions that help you delve beneath the surface to figure out what's really driving those wants and needs. Real estate agents sometimes say that "buyers are liars," because buyers tend to change their mind about what they really want to buy during the home-buying process. But if an agent is able to draw out the buyer ahead of time, and help him or her focus on the important issues of the purchase, it will save everyone a lot of time.
It's also important to hire an agent who is willing to tell you what you may not want to hear -- but should. If you're a buyer who is unrealistic about a local neighborhood, you'll want an agent to tell you that what you want to buy can't be found for the price and is unworkable in the current marketplace. No one wants to have their dreams dashed, but you'll come to see that your real estate agent is doing you a favor by not allowing you to run away from reality.
A great real estate agent comes laden with resources, similar to a hotel concierge. (Some real estate companies talk about the "concierge" services they provide.) The agent you hire should be able to provide you with a handful of great home inspectors, mortgage lenders and real estate attorneys for you to interview. (Be wary of the agent who steers you to one specific inspector, mortgage lender or real estate attorney. What you want is a choice of great partners.) If you need help locating service people, a handyman, or even a new pediatrician, a great real estate agent should have those names and numbers at his or her fingertips. Being a walking neighborhood directory for many longtime top agents is part of the service they provide.
A great real estate agent stays in touch. Top real estate agents use technology to help them communicate frequently with their buyers. E-mail, BlackBerrys, iPhones, cell phones, electronic newsletters, Web sites, digital photography and video help agents share properties that they've previewed, provide feedback, and keep buyers updated on the progress that is being made.
Finally, when you hire an agent, it's like a short-term marriage. When the transaction is completed, when you've bought your new home, the intense relationship you've created comes to an end. With a great real estate agent, you'll find you don't want your time together to end. While these are just some of the qualities you should look for in determining whether the agent is a good match for you, you still need to make sure to get referrals and recommendations for the agent from other buyers he or she has represented recently.
What happens next? Dinner -- ostensibly to discuss past and future deals, but really to move your relationship into the long-term-friendship stage.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
When shopping for a home, matching agent to your needs is vital
There are great real estate agents and terrible real estate agents. Within each category are agents whose behavior puts them at the top and bottom of the spectrum.
In other words, the best real estate agents are truly stellar. The worst agents? Well, let's just say that if you wind up with a terrible real estate agent you'll probably have war stories to share about your home purchase or sale at the next cocktail party you attend. (Unfortunately, stories about terrible real estate agents are shared more often than stories about great real estate agents.)
When hiring a real estate agent to help you buy your next home, the trick is to find one who really listens to what you have to say; who will go the extra mile to help make your purchase a little less stressful; who will help you be objective when you become emotional about plunking down the single biggest chunk of cash ever; and who can help you understand and work with local market conditions.
I suspect that most buyers spend more time thinking about the curtains they'll hang, the granite countertops they'll install, or the boxes they'll need for their move than the agent they'll hire to help with the purchase of the property itself.
Why is that? Why isn't creating a home-buying team the top priority when beginning the process of buying a home?
Perhaps it is because going through the process isn't perceived as being that much fun.
But that's where hiring a great real estate agent can make all the difference. What qualities should you look for?
The real estate agent you hire should have an intimate knowledge with your neighborhood of choice. The agent should have worked in a neighborhood for awhile, seen a lot of the housing stock, and know the history of the neighborhood, trends associated with it and where the locals hang out. The agent should know about home values and should have the ability to come to you and tell you what other homes have sold for in the neighborhood and what other homes are listed for in the same neighborhood. The agent should also have information to back up why some homes are listed for more than others and be able to represent you when you are ready to make an offer for a home. The agent should know about the school district, shopping, commuting and recreational options. He or she should basically be a wealth of information, and be able to point out the flaws as well as the outstanding features of the community.
The real estate agent you hire should be able to really listen to your wants, needs, dreams and desires, and ask questions that help you delve beneath the surface to figure out what's really driving those wants and needs. Real estate agents sometimes say that "buyers are liars," because buyers tend to change their mind about what they really want to buy during the home-buying process. But if an agent is able to draw out the buyer ahead of time, and help him or her focus on the important issues of the purchase, it will save everyone a lot of time.
It's also important to hire an agent who is willing to tell you what you may not want to hear -- but should. If you're a buyer who is unrealistic about a local neighborhood, you'll want an agent to tell you that what you want to buy can't be found for the price and is unworkable in the current marketplace. No one wants to have their dreams dashed, but you'll come to see that your real estate agent is doing you a favor by not allowing you to run away from reality.
A great real estate agent comes laden with resources, similar to a hotel concierge. (Some real estate companies talk about the "concierge" services they provide.) The agent you hire should be able to provide you with a handful of great home inspectors, mortgage lenders and real estate attorneys for you to interview. (Be wary of the agent who steers you to one specific inspector, mortgage lender or real estate attorney. What you want is a choice of great partners.) If you need help locating service people, a handyman, or even a new pediatrician, a great real estate agent should have those names and numbers at his or her fingertips. Being a walking neighborhood directory for many longtime top agents is part of the service they provide.
A great real estate agent stays in touch. Top real estate agents use technology to help them communicate frequently with their buyers. E-mail, BlackBerrys, iPhones, cell phones, electronic newsletters, Web sites, digital photography and video help agents share properties that they've previewed, provide feedback, and keep buyers updated on the progress that is being made.
Finally, when you hire an agent, it's like a short-term marriage. When the transaction is completed, when you've bought your new home, the intense relationship you've created comes to an end. With a great real estate agent, you'll find you don't want your time together to end. While these are just some of the qualities you should look for in determining whether the agent is a good match for you, you still need to make sure to get referrals and recommendations for the agent from other buyers he or she has represented recently.
What happens next? Dinner -- ostensibly to discuss past and future deals, but really to move your relationship into the long-term-friendship stage.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Wednesday, October 1, 2008
Top ways to boost curb appeal
by Paul Bianchina Fri, Sep 26, 2008
Whether selling or staying, first impression makes world of difference
You've no doubt heard the term "curb appeal," which is the first impression that your home makes when a visitor arrives. Whether you have your home up for sale or just want things to look a little nicer when you or someone else pulls up out in front, the best place to start is by giving the front of your home a critical examination.
Driveway: A driveway, by necessity, tends to be a fairly dominant feature, and it is often one of the first things that a person sees when they arrive at your home. If you have a concrete driveway that is oil-stained, check with your local home center for cleaners that can spruce it up. While you're there, get a crack repair compound and take care of smaller cracks before they become larger. For asphalt driveways, a seal-coat can often make a big difference in appearance and help prolong the asphalt as well.
For concrete or asphalt that is badly damaged, it's time to be thinking about replacement. You can replace the driveway with the same material as before, or consider an updated look by using paving stones instead -- they hold up well in all types of weather, and can even be a very satisfying do-it-yourself project.
Walkways: When someone arrives, is there a clear and safe path to your front door? You may not mind walking across your front lawn, but guests and prospective buyers would definitely prefer a walkway. There are lots of options for creating a new front walkway or replacing an existing one, so check out your home center or some landscaping magazines for ideas.
Landscaping: Speaking of landscaping, do you actually have any? Is it well maintained? Few things look worse out front than an overgrown or neglected yard, and you can often remedy things with a little hard work and some minimal expense. Cut back or remove trees and bushes that have gotten out of control. Feed the lawn to get it to green up again, or consider removing all or part of it and replacing it with low-maintenance materials.
If you have planter beds, be sure they're weeded and have fresh bark in them. Plan your landscaping to create a visual appeal by not having all the same type of plant. Intersperse some plants that provide spots of color at different times of the year, and mix plants for different heights as well.
Shade Trees: Consider adding a couple of new shade trees in front. Trees are good for the environment in general; they help a home look more established and appealing; and they can help lower your summer cooling costs as well. Trees look best planted in odd numbers -- a grouping of three or five, for example -- and the folks at your local nursery can help you with proper spacing.
Exterior Paint: There is probably nothing that will help or hurt the outside of your home as much as how your paint job looks. A fresh coat of paint in up-to-date colors works wonders, while old, peeling paint in a color scheme that went out of style when Eisenhower was president can really ruin a first impression.
If the paint is in generally good condition and just has a few bad spots, spend a couple of hours with a paint scraper and a can of exterior primer to get things ready for touch up, then have your local paint store match you up a gallon of paint and touch up the primed areas so they blend in. You might also want to consider repainting the eaves or window trim in a fresh new color to liven things up a little.
A New Entrance: Your front door is one spot that every visitor has to pass though, and it can make a lasting impression. A fresh coat of paint or stain can sometimes do the trick, but if your door is badly beat up you should consider replacing it. Check with a local company that specializes in doors (not a home center) and see about having a new door matched to your existing frame. The door company will cut the door, mortise the hinges, and drill for the locks using your old door as a pattern, so you can slip the new door right into place without expensive frame alterations or extensive carpentry.
Whether you're getting a new door or working with your old one, make sure that there are no squeaks or groans when it opens, and that it fits well in the frame without binding. Check the operation of the door handle and deadbolt; check the condition of the weatherstripping; and don't forget the operation of any screen and storm doors.
Cleaning: Last but far from least, clean things up a little. Pick up any trash that's accumulated, including dead leaves, cigarette butts and other small debris. Wash the siding to remove dirt, dust and cobwebs, and wash the windows. Hose off the walkways periodically, and make sure that all exterior lighting is operational. Finally, clean off the front porch -- including porch furniture and knick-knacks -- so that that area is clean and inviting as well.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Whether selling or staying, first impression makes world of difference
You've no doubt heard the term "curb appeal," which is the first impression that your home makes when a visitor arrives. Whether you have your home up for sale or just want things to look a little nicer when you or someone else pulls up out in front, the best place to start is by giving the front of your home a critical examination.
Driveway: A driveway, by necessity, tends to be a fairly dominant feature, and it is often one of the first things that a person sees when they arrive at your home. If you have a concrete driveway that is oil-stained, check with your local home center for cleaners that can spruce it up. While you're there, get a crack repair compound and take care of smaller cracks before they become larger. For asphalt driveways, a seal-coat can often make a big difference in appearance and help prolong the asphalt as well.
For concrete or asphalt that is badly damaged, it's time to be thinking about replacement. You can replace the driveway with the same material as before, or consider an updated look by using paving stones instead -- they hold up well in all types of weather, and can even be a very satisfying do-it-yourself project.
Walkways: When someone arrives, is there a clear and safe path to your front door? You may not mind walking across your front lawn, but guests and prospective buyers would definitely prefer a walkway. There are lots of options for creating a new front walkway or replacing an existing one, so check out your home center or some landscaping magazines for ideas.
Landscaping: Speaking of landscaping, do you actually have any? Is it well maintained? Few things look worse out front than an overgrown or neglected yard, and you can often remedy things with a little hard work and some minimal expense. Cut back or remove trees and bushes that have gotten out of control. Feed the lawn to get it to green up again, or consider removing all or part of it and replacing it with low-maintenance materials.
If you have planter beds, be sure they're weeded and have fresh bark in them. Plan your landscaping to create a visual appeal by not having all the same type of plant. Intersperse some plants that provide spots of color at different times of the year, and mix plants for different heights as well.
Shade Trees: Consider adding a couple of new shade trees in front. Trees are good for the environment in general; they help a home look more established and appealing; and they can help lower your summer cooling costs as well. Trees look best planted in odd numbers -- a grouping of three or five, for example -- and the folks at your local nursery can help you with proper spacing.
Exterior Paint: There is probably nothing that will help or hurt the outside of your home as much as how your paint job looks. A fresh coat of paint in up-to-date colors works wonders, while old, peeling paint in a color scheme that went out of style when Eisenhower was president can really ruin a first impression.
If the paint is in generally good condition and just has a few bad spots, spend a couple of hours with a paint scraper and a can of exterior primer to get things ready for touch up, then have your local paint store match you up a gallon of paint and touch up the primed areas so they blend in. You might also want to consider repainting the eaves or window trim in a fresh new color to liven things up a little.
A New Entrance: Your front door is one spot that every visitor has to pass though, and it can make a lasting impression. A fresh coat of paint or stain can sometimes do the trick, but if your door is badly beat up you should consider replacing it. Check with a local company that specializes in doors (not a home center) and see about having a new door matched to your existing frame. The door company will cut the door, mortise the hinges, and drill for the locks using your old door as a pattern, so you can slip the new door right into place without expensive frame alterations or extensive carpentry.
Whether you're getting a new door or working with your old one, make sure that there are no squeaks or groans when it opens, and that it fits well in the frame without binding. Check the operation of the door handle and deadbolt; check the condition of the weatherstripping; and don't forget the operation of any screen and storm doors.
Cleaning: Last but far from least, clean things up a little. Pick up any trash that's accumulated, including dead leaves, cigarette butts and other small debris. Wash the siding to remove dirt, dust and cobwebs, and wash the windows. Hose off the walkways periodically, and make sure that all exterior lighting is operational. Finally, clean off the front porch -- including porch furniture and knick-knacks -- so that that area is clean and inviting as well.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
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