Archive for the ‘Selling your house’ Category

Doug Hall w/ Team Pendley Your Local Veteran-Certified Agent

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Your Albany, Oregon and Portland Air National Guard Base at Portland International Airport area Veteran-Certified agent Doug Hall is dedicated to helping reduce the cost of our Veterans buying or selling their home. Doug is a real estate professional who has joined our Membership Benefits Program and received the additional certifications to represent Veterans in the sale or purchase of their next home. Doug Hall is a top-producing agent in the Albany, Oregon market and knows real estate, VA Loans and is a dedicated supporting our military.

Doug Hall’s track record of success, professional training, and dedication to Military/Veterans is unmatched in the Albany, Oregon market. Contact Doug Hall today to learn more about this National Program and receive a Free Membership to the Veterans First Membership Benefits Program and begin enjoying the many benefits of this program.

FOR MORE INFORMATION VISIT
http://www.veteransfirstagents.com/Oregon/Albany/Doug-Hall.htm

Team Pendley
with RE/MAX Integrity
We Go The Extra Mile, It’s Less Crowded!

http://www.teampendley.com/

Pat Pendley, Principal Broker
(541) 990-2530

Christie Pendley, Broker
Certified Distressed Property Expert
(541) 619-3640

Doug Hall, Broker
(541) 979-0571

**Pat Pendley, Christie Pendley ,and Doug Hall, are licensed Real Estate Brokers in the State of Oregon with RE/MAX Integrity

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Mortgage Glossary – Definitions & Real Estate Terms

untitled

August 8, 2013

Appraisal: An opinion of value as of a given date of a property prepared by an expert. The experts are usually licensed in the state. For residential loans, the report is invariably prepared on FNMA form

.Appreciation: The increase in a property’s value over time.

ARM (Adjustable rate mortgage):A mortgage in which rate changes according to a formula specified in the loan document.

Automated Underwriting: A computerized system that preliminarily determines a borrower’s loan eligibility based on a predetermined set of financial criteria.

Bottom-line Price: The highest price you would be willing to pay for a property. Unless you are making a “take it or leave it” offer,” you would initially offer a price lower than your bottom-line price and negotiate your way upward. Obviously, you never let a seller know your bottom-line price.

Buyer’s Agent (also Selling Agent):This real estate agent who works on behalf of a buyer by researching homes and neighborhoods and drawing up offers and contracts. Ask your agent to draw up a Buyer’s Broker Representation Agreement.

Buyer’s Broker Representation Agreement: A written agreement that stipulates a buyer’s agent will work only on behalf of the buyer.

Capital: Wealth or assets used to stimulate production of additional assets.

Cash Flow: In a rental property owned by an investor, this refers to the amount of money a property generates after expenses are accounted for.

Casualty Insurance (also Homeowners insurance, Fire insurance or Hazard insurance):A policy which protects the homeowner against damages to property caused by fire and other common hazards. Liability insurance, which protects homeowners in case someone is injured on their property, is also included. Most policies are “full replacement cost,” which guarantees sufficient funds to rebuild the home. Full replacement cost is usually determined based on a home’s last appraised value less the cost of the land. In order to protect lenders’ interests, they are typically named on casualty insurance plans as additional insured parties

Certified Public Accountant (CPA):A CPA is an accountant who has passed a state examination and other requirements necessary to be a practicing professional. There are excellent tax preparers who are not CPAs.

Closing Costs: The miscellaneous costs associated with closing. These typically include a Loan Origination Fee and Discount Points, Appraisal Fee, other Lender Fees, Escrow and Title Fees, and the first year’s Insurance Premium.

Comparables: Properties that are similarly sized and have similar features to a subject property. By reviewing comparable properties, buyers and their agents can get an idea of a property’s market value.

Comparative Market Analyses: Conducted by a real estate agent, this assessment of a property’s value is used to determine a reasonable offering price.

Condominium: In general, a higher density type of development in which a resident owns one of many units along with a share of the ground and other common amenities, like a swimming pool. The units are generally attached (unlike traditional single-family detached homes).

Condo Association: A condo association is a governing body that consists of individual condominium unit owners and that makes decisions regarding the maintenance of a condominium building and its grounds.

Counter-offer: In a real estate negotiation, a counter-offer is typically a response by the seller to the buyer’s initial offer. It is usually lower than the initial listing price and higher than the buyer’s offer.

Credit: Money that is available for the sake of a loan.

Credit Bureaus: Private companies that collect and maintain individuals’ credit histories, which they provide to creditors for a fee. The three major credit bureaus are Equifax, Experian and TransUnion.

Credit Markets: Just as there is a stock market, there is a market where fixed income securities are traded. Among these are mortgage backed securities, pools of mortgages that are sold to investors such as pension plans and hedge funds.

Credit Report: Produced by credit reporting agencies, this reveals the borrower’s history and current status of obligations.

Deed: In many states, the word mortgage is used but the security instrument whereby the property is given as security for the loan is actually a Deed of Trust. There are three parties to the instrument: the Trustor, the borrower, the Trustee, and the Beneficiary, the lender. The borrower transfers the legal title for the property to the trustee who holds the property in trust as security for the payment of the debt to the lender or beneficiary. In the event of default, the beneficiary notifies the Trustee of the default whereupon the trustee proceeds to sell the property at a public sale. This is really a “paper function” as the Trustee will actually play no role. In most states a lender seeks a non-judicial foreclosure where the proceeds of the sale less the costs are the lender’s revenue to apply against the loan. If the proceeds from the sale are not sufficient to pay off the loan, the lender may not pursue other legal action against to collect the deficiency. In some states, but not all, a lender must seek a judicial foreclosure to recover the full amount owed.

Dual Agency: When a buyer’s agent concurrently represents the interests of a seller. Dual agency is generally not recommended.

Earnest Money: The deposit money given by the buyer to his agent or settlement agent upon the signing of the Offer to Purchase (alternately known in some regions as the Deposit Receipt). This shows that that the buyer is serious about buying the house. If the sale goes through, the earnest money is applied against the down payment. If a contract to purchase is not agreed upon, it is returned to the buyer. If a contract is agreed upon but the sale is not consummated, disposition of the earnest money, either forfeited to the seller or returned to the buyer is dependent upon what is agreed to in the Purchase Contract.

Escrow: In California and some other states, the settlement agent who handles the closing of a purchase transaction is an Escrow Company. In other states, settlement agents may be the escrow division of a title company or an attorney.

Escrow accounts : (also Impound Accounts):Lender-established accounts through which a borrower makes payments and a lender takes deductions to cover the costs of the following: mortgage insurance premiums, property tax payments, and/or casualty insurance premiums. Escrow accounts are customary in the East, especially where the LTV of an original loan exceeds 80%. In these situations, borrow equity is not high and if foreclosure became necessary, the lender would not want to recoup the cost of back taxes payment.

Escrow Officer: After an offer is made, an escrow officer (or a representative of an attorney’s office) facilitates the transaction from the time the contract is signed through the close of escrow. These include inspections, earnest money agreements, disclosures, lender issues, and title and escrow issues. This is different from an escrow coordinator attached to a real estate broker’s office—a person whose services you should not pay for.

Federal Reserve: (also “The Fed”):The central bank of the United States government. The Federal Reserve is responsible for setting short term interest rates that serve as models for many types of loans. Mortgage rates, however, are influenced by the market rates on long-term securities like the 10-year Treasury Bond, which is only loosely affected by the Fed.

FICO: Created by the Fair Isaac and Co., this mathematical scoring system is used to assess the relative risk of an individual borrower.

Fixed-Rate Loan: A loan in which the interest rate doesn’t fluctuate but rather remains consistent for the life of the loan.

Foreclosure: The legal process by which a lender enforces payment of a debt secured by a mortgage, or deed of trust. During a foreclosure, the lender takes possession of the home, evicts the mortgagor, and sells the mortgaged property. If the sales price is not enough to pay off the loan, the lender may have other remedy dependent upon state laws, which vary from state to state.

For Sale By Owner Properties: Properties that are sold directly by owners rather than through a brokerage firm. You can use a broker to help you but you, not the seller, are responsible for the agent’s commission.

Good Faith Estimate: Provided by a mortgage lender or broker, this is a list of estimated fees and costs associated with a home loan. Your lender must, by law, give you this and other disclosures within 3 days of your application.

Home Protection Warranty Package: A service contract paid by the seller that covers breakdowns in heating, plumbing, air conditioning or electrical systems, usually within other first year of ownership.

Interest: The price paid for borrowing money.

Interest-Only Loan: A loan that requires a borrower to pay back interest only for a set number of years. After the interest-only period has expired, the remaining principal is typically amortized over the remainder of the life of the loan.

Interest Rate: The rate, which fluctuates according to various economic forces, that is the measure of the price at which money can be borrowed.

Interest Rate Lock: An assurance from a lender that an interest rate will not rise between the time a borrower locks in the terms of the loan and the time the loan closes.

Lien: A claim by one person or entity on the property of another. Commonly, this is security for money owed, created by the lender when you buy a property. Liens also include obligations not met or satisfied, judgments, unpaid taxes, materials, or labor.

Liquidity: The percentage of assets that can be quickly turned into cash. Liquidity is also a measure of the funds available for down payment, closing costs, and reserves.

Listing Agent: The agent who represents the interests of the seller.

Lock Period: Either 15, 30, 45, or 60 days, lock periods are set amounts of time during which the interest rates buyers have been promised cannot be made any higher.

Lot Number: The number corresponding to a parcel of land meant to be owned by a particular individual.

LTV (Loan-to Value): A ratio that expresses the amount of a first mortgage lien as a percentage of a property’s total appraised value. For example, if a borrower wants $100,000 to buy a home worth $120,000, the LTV ratio is $100,000/$120,000 or 83%.Mortgage:A lien or claim against real property given by the buyer to the lender as security for money borrowed.

Mortgage Loan Officer: A representative of a lending institution who acts as an intermediary between the institution and the borrower.

Multiple Listing Service: A group of private databases that provides real estate brokers with a comprehensive look at available housing in a particular market or across markets. The information, which used to be guarded jealously, is now available at numerous websites.

National Association of Realtors: A trade organization consisting of a membership of more than 700,000 Realtors.

Negative Amortization: A method of loan repayment in which the borrower does not pay back the full amount of interest owed each month. The portion of interest that remains unpaid is added to the total amount owed to the lender.

Piggyback Transaction: Typically utilized by borrowers who wish to avoid paying private mortgage insurance (generally a requirement when a person makes a down payment of less than 20 percent), piggyback transactions or 80-10-10 mortgages as they are alternately called, are transactions by which two separate mortgages are originated at once. The first position lien has an 80 percent loan-to-value ratio and the second position lien has a 10 percent loan-to-value ratio. The remaining 10 percent is accounted for in the form of a down payment.

Points: A point is one percent of the amount of the loan. On a $50,000, one point is $500 while on a $200,000 loan, one point is $2,000. When a borrower pays points, this first includes the Loan Origination Fee. Additional points are called “discount points” and are an off-set against interest rate. Lenders will, these days, almost always offer a number of “rate versus fee” combinations allowing the borrower to choose one which is most suitable for his circumstance.

Pre-approval: A commitment from a lender stipulating how much money a person may borrow and under what terms and conditions.

Preliminary Title Report: Once escrow is opened, a preliminary title report is issued. This report provides buyers with information on a property’s title and whether there are any easements, liens and encumbrances on a particular property.

Pre-qualification: An informal, but not binding assessment of how much money a person could potentially borrow from a lender. Pre-qualification is an opinion rather than a promise, and is thus different from pre-approval.

Principal: The balance of the loan outstanding. This is the amount upon which the interest payment is computed.

Private Mortgage Insurance: A form of insurance that lenders generally require when borrowers make down payments that are less than 20 percent; in other words, when their loan-to-value (LTV) percentage is great than 80 percent.

Property Insurance (Fire Insurance):Insurance policy intended to cover risks including fire, theft and some weather damage. Also called Fire Insurance or Casualty Insurance.

Prorate:
This refers to an adjustment made on a payment to account for unused service so that buyer and seller each pay their respective share of costs in proportion to the time in which they own the property.

Rate-vs-Fee:
An inverse relationship exists between a mortgage interest rate and the upfront fees paid. When borrowers opt to pay more upfront, the lower the interest rate becomes. It is much better to buy down the rate if you are going to be in a home for more than five years.

Real Estate Agent: A state-licensed professional who negotiates the sale of real estate, typically on behalf of its owner. A buyer’s agent represents the buyer in a real estate transaction.

Real-Estate Owned (REO):A term referring to properties owned by banks as the result of a foreclosure.
Realtor: A real estate broker or agent who is affiliated with the National Association of Realtors.

Reserve Account:
Reserves set aside by a condo association to cover anticipated maintenance and other expenses.

Reserve Analysis: Typically initiated by the board of a condo association, a reserve analysis studies every single item in the common area—from the roof to the paving in the parking lot, to make sure that adequate reserve funds are being established for their eventual replacement.

Reserves: This refers to the amount of liquid assets that a borrower has after paying the down payment and closing costs.

Return on Investment: aka ROI. The amount of profit a property generates divided by its value. A $100,000 property that generates $8,000 per year would produce an 8% ROI.

Risk: In terms of credit, risk refers to the likelihood of a borrower being able to make payments in a timely fashion and, ultimately, to pay off a loan. Naturally, lenders prefer low-risk borrowers to those who pose a high risk. Lenders determine risk by reviewing a person’s credit score and credit history.

Risk-based Pricing: The higher the perceived risk, the higher the interest rate the borrower will pay.

Single-Family Residence:
Unlike a condominium, in which certain areas area shared between individual homeowners, a SFR is a private unit intended for occupancy by a single family.

Subprime
: Refers to loans offered to high-risk individuals and thus carry the highest interest rates.

Termite Report: A report issued by a licensed state inspector that reports termite infestation and dry rot and any damage that resulted. The report will list corrective action and the cost of repairing damage to a home.

Tract Number:
Refers to a subdivision of land as it is identified by the U.S. census. Tracts can range anywhere from 2,500 to 8,000 inhabitants.

Uniform Standards of Appraisal Practice:
Designated by the Appraisal Foundation, these guidelines are intended to facilitate equitable appraisal practices.

Yield Curve: A yield curve is the representation of the relationship between an interest rate and the time to maturity of a debt. The shape at any given time will determine the difference between long-term loans like a 30-year fixed rate loan and, say, a 5/1 ARM.

INFORMATION COURTESY OF
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http://www.credit.com/loans/mortgage-questions/mortgage-glossary/?utm_source=MSN&utm_medium=content&utm_content=BO_3&utm_campaign=mortgage_rate_sheet

Team Pendley
with RE/MAX Integrity
We Go The Extra Mile, It’s Less Crowded!

http://www.teampendley.com/

Pat Pendley, Principal Broker
(541) 990-2530

Christie Pendley, Broker
Certified Distressed Property Expert
(541) 619-3640

Doug Hall, Broker
(541) 979-0571

**Pat Pendley, Christie Pendley ,and Doug Hall, are licensed Real Estate Brokers in the State of Oregon with RE/MAX Integrity

9 Tips for Making Your Move Stress-Free

MovingTips
Thu, August 22, 2013

Buying a new home is exciting – and a big deal. If you’re searching for the perfect place, or you’ve already found it and are under contract, the next step in the process can feel more tedious: moving.

Moving can be stressful, a bit expensive and plenty chaotic. But with some planning, help from friends and a little organization, it doesn’t have to be as hectic as you imagine. Here are some tips to take the stress out of your move:

1. Make a plan of attack – Whether you’re moving across town or across the state lines, you’ll probably want to rent a truck. Do you have willing helpers to assist in the move, or will you need to hire some help? If you’re moving farther away, you’ll probably want professional help. Figure out what your moving needs are, and ask friends or your real estate agent for references to a trusted mover. Also, stock up on boxes, packing tape, permanent markers and packing peanuts/bubble wrap.

2. Prioritize your packing – As you start packing your current home up, designate a few boxes for each room that you’ll need quick access to. For example, you’ll want to keep personal toiletries, shower curtains and liners, a first-aid kit and other necessities easily accessible for the bathroom. Label these boxes “Open Now” so you know which boxes are filled with the essentials – and which ones can wait until later.

3. Don’t go it alone – Packing is a monumental task. Invite some friends or relatives over, buy some pizza and make it a packing party! Delegate the tasks you feel most comfortable entrusting others with, like packing up DVDs, books and other non-fragile items. A little help goes a long way to saving you some time – and sanity.

4. Don’t take it all – If you realize you have 10 boxes of clothes and you haven’t worn half of them in a few years, it’s time to part ways. Create three piles: a “keep” pile, a “sell” pile and a “donate” pile. If time permits, hold a moving sale to unload some of the items you don’t want anymore. Bonus: Selling items before you move gives you extra money that you can put toward moving expenses. Added bonus: You reduce the clutter.

5. Forward your mail – Believe it or not, people forget to do this all the time! It’s easy to change your address with the U.S. Postal Service. Simply visit the USPS website, and in a few steps you’re done!

6. Turn off your utilities – Check with your local utility providers, as well as other services (trash pickup, newspaper delivery, cable/Internet, phone), to inform them that you’re moving. They’ll need to know an exact date for your move so they can transition or cut off service. You don’t want to be billed for charges after you move!

7. Change your address everywhere else – Contact your bank, credit card companies, healthcare providers, schools, etc. to give them your new address. Although your mail will be forwarded, you still want to update your contact information as soon as possible to avoid missing important bills or letters.

8. Be flexible – Closing day can be unpredictable, and sometimes there are delays. If you’re scheduling movers or arranging for help, you might want to pick a day or two after closing to avoid a moving-day headache.

9. Consider hiring a professional housecleaner – Sellers don’t necessarily leave their homes in sparkling condition when they leave. If time and budget permit, hire a housecleaner to make your new home move-in ready. It’s one less thing for you to worry about!

Ready to search for a new home? A local RE/MAX agent can help you find your perfect fit.

Courtesy of
RE/MAX Housing Blog

http://www.remax.com/c/housing-blog/blog-post/9-tips-for-making-your-move-stress-free?rmxaid=20156594

Team Pendley
with RE/MAX Integrity
We Go The Extra Mile, It’s Less Crowded!

http://www.teampendley.com/

Pat Pendley, Principal Broker
(541) 990-2530

Christie Pendley, Broker
Certified Distressed Property Expert
(541) 619-3640

Doug Hall, Broker
(541) 979-0571

**Pat Pendley, Christie Pendley ,and Doug Hall, are licensed Real Estate Brokers in the State of Oregon with RE/MAX Integrity

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Setting the stage for a sale 20 little tips to make your home sell faster!!

christie (2)

By Dana Dratch • Bankrate.com
Selling a house is a lot like romance. It really pays to set the mood.

Real estate pros call it staging — showcasing the best side of a home to create interest and help you get top dollar.

“Because the market is so strong, the houses that are planning for maximum impact are generating the sales,” says Ron Phipps, a principal broker with Phipps Realty and Relocation Services in Warwick, R.I.

Here are 20 tricks to selling your home from the pros:

1. Make room. Clear out as much furniture as you can. Put it in storage, give it to Goodwill Industries or have a garage sale.
“What you want to do is open the house up so it does not look cluttered — it looks spacious,” says Michael Love, president of Interior Options Inc., a New York interior design firm. “And people can picture their own stuff in it.”

Hallways and doorways, in particular, need to be clear and open.

2. Use counter intelligence. Go through the house and clear off all the horizontal surfaces like kitchen and bathroom countertops. Old magazines? Toss ’em. Knick-knacks? Pack ’em. Counters need to be clear and clean.

3. Follow your nose. A home should smell good. That means no noticeable odor — no pet scent, no stale cooking smells and no cigarette smoke. “People just don’t realize how much odor plays into this,” says Scott Griffith, president of ERA Griffith Realty in Brighton, Mich.

“And I find that people who smoke or have pets become so accustomed to the smell, they don’t notice it,” Griffith says. Instead, have a friend whose judgment — and nose — you trust give your home the real sniff test.

Remember the old story about the smell of baking bread or steaming cinnamon potpourri? Today’s real estate pros say it’s a no-no. Ditto the scented candles and air freshener.

“If you just go through with Lysol before a showing, that won’t help,” says Dan Lee, vice president of First Weber Group Inc., in Madison, Wisc. Instead, get rid of scent problems at the source: scrub the house, have the air vents cleaned, replace old, smelly carpeting and smoke outside.

4. Remember, the next buyer is as lazy as you are. If the property needs work — dated wallpaper, ratty carpet — have it replaced now so that all buyers have to picture is moving day. “Most people want it before they move in,” says Myra Zollinger, an owner/partner with Coldwell Banker Realty Center in Chapel Hill.

The more changes buyers calculate they’ll have to make in the home, “the more concerned they get,” says Richard F. Gaylord, Realtor with RE/MAX Real Estate Specialists in Long Beach, Calif.

5. Do the baby test. Does your potential market include families with young kids? If so, ask yourself, “Would I put my child down on this floor to crawl around the room?” says Dick Koestner, a partner in Koestner McGivern & Associates in Davenport, Iowa. If not, you know what you have to fix. Likewise, if your walls sport grimy smudges or handprints, it might be worth it to paint.

6. Deep-six the cigarettes. Buyers are much more sensitive to cigarette smells, says Zollinger. “If somebody’s a smoker, he doesn’t smell it.”

Having a smoker in the house also eliminates a lot of potential buyers. Many shoppers won’t even want to tour a home if the owner is a smoker.

7. Make your home ageless. There’s a difference between an old house and a classic home. “If the house looks 40 years old with 40-year-old paint, 40-year-old appliances and 40-year-old carpet, that’s a hard sell,” says Phipps. Keep everything fresh and up-to-date (read well-maintained) and you have a solid home in an established neighborhood — a real looker.

8. Let there be light. “People buy space and light, for the most part,” says Zollinger.

One dark room is “cool,” says Phipps. “But if the whole house is dark, that’s a problem.” So open the blinds. Turn on all the lights. Add lights in rooms that are dark.

And if Mother Nature isn’t cooperating with your marketing efforts, “use more flowers and things that suggest sunlight,” says Phipps.

One seller who really understood staging was marketing her home during a spate of bleak weather. Before a showing, she threw a couple of beach towels over the rail of the deck, put up the sun umbrella and set out a pitcher of lemonade and some glasses.

“You want a space that’s crisp and sharp and vibrant,’ Phipps says. “Happy space.”

9. Get a home inspection. Most buyers will have one done anyway, says Zollinger. Do it now — and make any needed repairs before you put the home on the market. Depending on where you live, the service will probably run about $200 to $400, she says, and your real estate professional can recommend several good inspectors.

10. Learn to love white walls. When it comes to walls, color is popular. The problem is that the next buyer might not like the same colors. Paint is a relatively inexpensive way to make a house look clean and fresh. And if you’re going to repaint prior to selling, stick with neutrals. “Despite the fact that it’s more boring to live in, it’s still an easier sale,” says Griffith. And remember that white reflects the light best and makes rooms look their largest.

11. Take a close look at the carpet. Get the carpet shampooed to get out any stains or smells. If that doesn’t work, replace it. “Get rid of carpet that looks dirty, soiled, stained,” says Love. And consider, if you can, wood or laminates as an alternative.

“It makes the house look bigger and people love seeing the fact that it has wood floors,” she says. “Plus it’s a lot easier to keep clean.”

12. Avoid controversy. If you have a deer head on the wall, you might want to take it down. It will be a turnoff to some buyers, says Zollinger.

Phipps advises his clients to play it safe with the books and magazines they display while showing a home. Anything provocative could turn off buyers, says Phipps.

13. Replace deteriorating wallpaper. If wallpaper is peeling — especially in bathrooms — remove it and consider replacing it with a coat of paint. Go with a neutral or match the tile, says Love. Likewise, if the kids’ rooms need a fresh look. That way, buyers are looking at the house, not your decorating skills. And it’s easier for them to see their things in the space.

14. Clean your closets. Sellers need to “empty the closets of half the things they have in them,” says Love. Partially empty closets look roomy — and space sells. Do the same thing with kitchen cabinets. (And if you donate your extra clothes and surplus food to a shelter or food bank, you won’t have to worry about moving it to your next home.)

15. Harness flower power. Lee and his wife used this technique and sold their own home in two weeks, he says. “We spent a fortune on flowers, but I really do think it helped,” he says. Their favorite — wild flowers. “It gave the home a nice, softer feel,” says Lee.

Showing your home on a budget? Go for less expensive bouquets, green plants or seasonal flowers from the yard, says Love.

16. Open the windows. “If it’s a cool summer day, have the windows open,” says Meg Werren, owner of It’s About Time, a home sales prepping company in Fitchburg, Wisc.

Conversely, if it’s cold and dreary, light a fire in the fireplace.

17. Take everyone’s advice with a grain of salt. When Gaylord sold his own condo years ago, one real estate expert told him it would sit on the market because of the emerald green carpet in one of the rooms. But the home “was a showplace,” he says, and a buyer quickly snapped it up — green carpet and all.

“Putting colors and tastes aside,” says Gaylord,” if a person drives by and the home is exciting and it’s showy — even if your colors may not be as neutral as they like — they’ll be turned on.”

18. Keep it clean. No dust, cobwebs or trash. “People looking to buy a home are extremely observant and meticulous,” says Werren.

19. Set your house apart. Phipps recalls one real estate study in which potential buyers were shown many different houses in similar neighborhoods, all with similar features and amenities. The one that stood out? A home that had yellow roses on the dining room table. People not only remembered the detail, but they rated the home higher as a result, says Phipps.

“You need to give the home a hook,” he says. “Something that makes it different in a positive way from the other houses.”

20. Keep it real. You don’t have to go to the extreme of one buyer — who before a showing set up the bedroom to look like the night maid had just been through and pulled down the comforter, fluffed the pillow and placed a book open on the bed.

“You don’t want it to look so staged that it’s artificial,” says Phipps. “What you want is for them to walk in there and say ‘I could put myself here.'”

Dana Dratch is a freelance writer based in Atlanta.

Courtesy of
Bankrate.com
http://www.bankrate.com/brm/news/real-estate/getting-readya1.asp

Team Pendley
with RE/MAX Integrity
We Go The Extra Mile, It’s Less Crowded!

http://www.teampendley.com

Pat Pendley, Principal Broker
(541) 990-2530

Christie Pendley, Broker
Certified Distressed Property Expert
(541) 619-3640

Doug Hall, Broker
(541) 979-0571

**Pat Pendley, Christie Pendley ,and Doug Hall, are licensed Real Estate Brokers in the State of Oregon with RE/MAX Integrity

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