Category Archives: planning

commitment, Communication, education, Inspiration, organizing, planning, selling, Short sale, Team work, tips

EASY NO COST SELLER IDEAS TO SELL YOU HOME WHEN YOU ARE IN TROUBLE.

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piggy bankMoney is tight and you are faced with having to sell you home but you do not have any money to fix or repair the home? The home then will have to be sold AS-IS.

 

Here are several things you can do to give your home the best chance to sell quickly, even if it needs repairs.

 

Think of what you can do rather than what you cannot do.

 

None of the ideas listed below cost you any money and it is possible they may make you some money! (OK one maybe will but only if you have no other option).

 

  1. In the sellers disclosure identify what needs to be repaired. Better to disclose than to hope they will not see.
  2. Start clearing out and selling items you do not need. Look in every nock and cranny.
  3. Take down all your personal pictures and notes from the walls, desks, tables and refrigerators. Buyers are not interested who is in the house. They want to know about the house.
  4. Vacuum all the carpets in the house including under the bed, couch, and chairs.
  5. Deep clean all of the bathrooms, and the Kitchen. Do not forget behind the stove and under the refrigerator. People will pull the shower curtain to see how clean the shower is.
  6. Take a damp sponge and clean the finger smudges off the walls by the light switches and other places you can find. Don’t scrub hard. Be very gentle.
  7. Clean out overstuffed closets, and if you can, put the excess into storage or sell it.
  8. Organize your kitchen. Get rid of the junk drawer. We all have one.
  9. Clean off the kitchen counter top. If you keep it cluttered, you tell buyer that you do not have enough room to store your items, or the other message you might give them is it will take me months to move out! Or I have too much stuff to move!
  10. Clean out the garage and once again, when you have to store or sell some of the items you have, then do so! Once again, do not use the garage as storage unless you are planning on telling the buyers that the house is too small and does not have enough storage.
  11. Clean up the yard. It will have better curb appeal.
  12. Mow the yard and keep it trimmed.
  13. Ask friends or family members if they maybe have some plants you could plant in your yard when you have none.
  14. Clean your windows and open the curtains to let light in.

 

All these ideas, unless you need to put stuff in to storage, will cost you no extra money. All what this will cost you is your time and effort to get it done.

 

The faster you can sell your home the faster you can get back on track and the faster you might be able to get into a new home. The longer it takes the larger your shortfall will be. In this case time is money.

commitment, Communication, education, Inspiration, organizing, planning, selling, Team work, tips

SELLING A HOME IS A TEAM SPORT.

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Business Team Signing Contract……and you the seller have a very important part.

 

Houses sell best when the selling Team works together and you as the seller are part of the team. Nothing new, but now let me explain what I mean with this.

 

Your part is to make sure your home put’s its best foot forward. Without this very vital contribution the rest of the Team will not have an easy time doing their part. The other team members have the job of selling what you have. Not preparing the property for sale.

 

The Marketing part of the selling is done right after you have finished signing the Listing contract. Most of the REALTORS® will advertise the house online and with fliers that are available in the flier box right in front of the house.

 

One of the seller’s parts of the Teamwork is to de-clutter the house and to put their personal possessions away during showings. Now, the Buyer who has read the web advertising, reviewed the pictures of the home which were posted online, and reads the property remarks:” Roomy home, with ample storage”, will go through the house and find it as it described rather than finding the kitchen full with clutter and stuff and the toothbrush dirty in the sink or dirty laundry on the floor and being disappointed.

 

I know this is a drastic example but this is to show how important the seller’s role is in being part of the selling team.

 

The REALTOR® is there to help as a coach in preparing the property to sell and to get the team to the finish line. Everyone is a vital part of the team.

buying, commitment, Communication, education, Inspiration, organizing, planning, Team work, tips

Here comes another Tornado Season

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We are here once again. Another tornado Season and the ones who live in Tornado Alley know very well that nothing can be done against Mother Nature, other than being prepared and ready to take cover.

Don’t be complacent when a tornado is heading your way. By that time it’s usually too late to make a plan.

Designate a “Shelter Area” in your home. For a Home that is not a Trailer move to the lowest level of the house such as a basement or under a stairway. When you have no basement available use the smallest room or hallway on the lowest level and put as many walls between you and the storm. The place you choose needs to be away from windows.

When your home is a Mobile home, you need to find a designated storm shelter. A mobile home, even when tied down, will offer little or no protection during a tornado.

Buy a weather radio or download a weather app to your smart phone.

 

Assemble a “Disaster Supplies Kit”. The American Red Cross recommends a “disaster supplies kit” containing the following items:

 

•         A first aid kit with essential supplies and medication
•         A battery powered radio, flashlight, and extra batteries
•         Canned and other non-perishable foods. Don’t forget a hand-operated can opener
•         Bottled water
•         Candles and matches
•         Sturdy shoes and work gloves
•         Cash and credit cards
•         Copies of vital paperwork like driver’s license, birth certificates, insurance papers, credit cards, vehicle keys, medical cards…..

 

Know the Difference between a watch and a warning.

 

•         A tornado watch means that weather conditions are favorable for the development of tornadoes.  Stay alert and keep tuned in for further advisories.

•         A tornado warning means that a tornado has actually been sighted. Warnings are issued for individual counties and include the tornado’s location, direction and speed.

Do not try to outrun a tornado with a vehicle. Take shelter when a Tornado Warning has been issued. Tornado “watching” is best left up to the professional.

buying, commitment, Communication, education, Inspiration, organizing, planning, selling, Team work, tips

CENTRAL INDIANA HOME STATISTICS UPDATE

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Rising profitsThe Central Indiana’s housing inventory remaining low is not surprising. We had an unusually harsh winter and many homeowners were reluctant to list their homes for sale. With the warmer weather we should see an uptrend in available homes. With the interest rates remaining low, and forecasts indicating no huge increases until 2015, we could have a great 2014 selling season.

Here in central Indiana we have seen a slow but sure increase in home pricing based on the local REALTOR Association information. Over the last 6 months the average home price saw an increase of 8.7% and most of the homes sold in Central Indiana received offers that were 91.8% of their original asking price.

In the nearby area of Brown County, the increase of properties available indicated a 41.2% over last year. Morgan County did not perform as well showing a decrease in available listings indicating a 30.1% over last year. Decatur County has seen the largest increase in home pricing over last year with 44.8% in comparison to Putman County where home prices decreased over last year by 10.7%.

buying, commitment, Communication, education, Inspiration, organizing, planning, selling, tips

Tips to keep you home insurance low.

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safe1. Shop around

Take your time before get your home owners insurance. Get referrals from people you know and do your research. The National Association of Insurance Commissioners www.naic.org has great information for you.

 

2. Keep your deductible high

The higher you’re deductible is the better your premium will be. When you can afford a $1000 deductible you can safe up to 25% on your premium, most insurance companies asking for a $500 deductible.

 

3. Don’t include the land in your insurance

The price you paid for your home includes the land it stands on (in most states) and it is not in risk of being stolen or fire (you could just make sure the trees are covered). The land will always be there so consider not including it in the coverage.

 

4. Keep all your policies with one company

When you keep all of your policies with one insurance company, like the house and your auto, you can save with a multi-policy discount. Depending in the insurance company it can vary between 5-15%.

 

5. Disaster proof your home for your area.

You may be able to save on your premium when you retrofit your home to make it more resistant to windstorms. Older homes may get a break when they are being modernized with new heating, plumbing, and electric. You need to contact your insurance agent for further assistant on this.

 

6. Add to your home security

Adding a smoke detector, fire extinguisher, deadbolt locks and a monitored security system could get you a possible insurance discount of 5%. Before you do any modifications like this contact your insurance agent for recommendations.

 

7. Look for other discounts

Non-smokers can get you a discount with some insurance companies. When you are 55+ and retired, and you live in the home most of the year, you could qualify for another discount.

 

8. Credit Score

Keep a good credit score, the better your credit the better will be your insurance premium. Make sure you check your credit on an annual basis.

 

9. Don’t move from insurance company to insurance company

Some insurance company give special discounts for long term policy holders. The longer you stay with the company the higher the discount will be. You could be eligible for discounts from 5-10%.

 

10. Annual policy review

Did you add a floater for the high end computer you no longer owned or grandma’s jewelry you have sold at auction? Check and see if you had something included in your policy that you no longer own. Have it removed and save the difference.

 

11. Private insurance VS. Government plan

Government plans are higher than private insurance plans, especially in high risk areas. Check for possible private insurance carriers who might insure homes in a high risk area. A high risk area is for instance along the coast or areas of high crime.

 

12. Shop for insurance before you buy

Call your insurance company before you buy and they will let you know what type of home will have a more reasonable insurance premium.  Some things the insurance company will take in to account are the age of the home, the age of all of the systems (plumbing, heating), age of the roof, and possibly the type of siding.

 

13. Check the CLUE Report

For many homes you can find a report which shows the insurance claims history of the home. With this you could decide what potential problems the property might have.

 

14. Other insurance

Remember that when your future house is in a flood plain you have to get flood insurance. That could add in an average of about $400 annually to your insurance premium. When your house is in an earthquake prone area you also need to buy a separate earthquake policy. Earthquakes are not covered under a standard policy.

 

Disclaimer: I am not an insurance agent or an attorney. For legal advice or any advice regarding this topic contact your insurance agent or legal counsel.

buying, commitment, Communication, education, Inspiration, organizing, planning, selling, Team work, tips

Stage the vacant home……for safety reasons.

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DSC_0008When selling a vacant home it you should have it staged to look as if it is lived in. From the outside, with curtains and a light or two turned on, it will look lived in to a potential drive by thief. Also, when placing you home on the market, try to find pictures of the inside showing furniture. When you do not have pictures with furniture you could have it staged with rented furniture or add a few pieces from your own collection. It will keep the potential thief guessing. We do not want to invite thieves or potential squatters. Each picture posted on the MLS of an empty room might invite the copper and wire “collectors” of the area.

 

The other invitation might be the disclosure “bank owned” on the MLS, but due to having to disclose this to the potential buyer there is not much we can do. I have seen listings where agents leave the “bank owned” part out of the public disclosure but have it written into the Agent-to-Agent remarks. I am not certain if this is kosher but that might be an answer.

 

Many times the under the public remarks is the verbiage used “vacant, OK to show, lock box code XZYT, call for feedback.

 

…..just don’t do that, you are inviting squatters and others who will use this house for their illegal reasons.

buying, commitment, Communication, education, green, Inspiration, organizing, planning, recycle, Team work, tips

Remodelers and Lead base Paint

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paintOn April 22nd 2010 a EPA ruling went into effect that has not only affected the homeowner but also the contractor who is remodeling or entering into remolding contract with a homeowner for a home that is build before 1978.

http://www.epa.gov/lead/pubs/renovation.htm

 

Each Remodeler has to hand the new EPA pamphlet called “Renovate Right” to their clients.

http://www.epa.gov/lead/pubs/renovaterightbrochure.pdf

When the rule took affect each firm that planned on working on homes built prior to 1978 must be certified and need to follow the EPA outlined work practices to prevent the lead contamination. All work completed on a home build before 1978 needs to be recorded and the contractor needs to test the area after clean up. The test has to match 100% to the EPA test card. When the test appears darker or dirtier than the card, the clean up must be repeated. In the new ruling, a contractor must use only equipment with a HEPA filter (example: grinder/sander). Also, a remodeler should not use a high-heat gun that exceeds 1100F.

Last but not the least a contractor needs to post warning signs for occupants and visitors and establish a containment area using disposable plastic drop cloths and clean the work area with HEPA vacuuming and wet washing.

Just keep this in mind when you buy your investment properties and you perform any restorations.

commitment, Communication, education, Inspiration, organizing, planning, recycle, tips

Clean up after the Storms

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blueprintWith the recent and future storms a lot of us will face the daunting task of clean up and major repairs. Facing the loss of everything that had value does not even cover the later possible loss when facing a scrupulous contractor that who’s only intention is to make some quick money. You cannot do anything about what Mother Nature has done or is in store for us but I can give you some small tips and tit bits on keeping from facing more damage due to bad contractors.

Make certain you call your insurance company first and have an appraiser come out to your home. The insurance company will also know some good reliable contractors. There is a good possibility that not everything is covered but at least a good contractor may lessen the loss, unless you have a total loss like one of my friends had. Your insurance agent will let you know what you can or should not do to lessen the loss before the adjuster comes to your home. It would be wise to follow their advice.

The contractor should know what permits you may need or you can call your local municipality and find out what possible permits you need to for any major renovation or reconstruction. Yes these permits they will cost you money but this will require inspections and help insure that the work will get done right and to current code. While talking to your municipalities ask for the cost of each permit. I have seen contractors inflating the price trying to get you to forego a permit. The permit can be a major pain but it is only there to insure that you the homeowner will get what you paid for and that you are safe and up to current code when you are moving back into your home.

When you need to find a contractor yourself you can refer to these and other possibilities:

  1. friends and family referrals
  2. Local Real Estate Agents and Brokers
  3. Chamber of Commerce
  4. Angie’s list
  5. Better Business Bureau

While picking a contractor ask for the following items from them.

  1. Their contractors’ licenses. In most states contractor or general contractors have to be licensed. Did you know you can verify a license online and can check if there is any pending litigation?
  2. Copy of their insurance certificate. A reputable contractor is insured and bonded. Call the insurance agent named on the policy to find out if it is still active.
  3. Get references to call. When you call them ask if you can visit to see the work performed by the contractor.
  4. Call the BBB and log on to Angie’s list to inquire about this contractor.

When getting your estimates of repairs DO NOT let the same contractor provide you with two separate estimates in two different names just to give you a “great Deal”. That is a good indication that the contractor is dishonest. Just last night I overheard one of the contractors I know, but never did business with, talk about this to one of his friends and he was proud of it. He will NOT be on my referral list!!!

Get at least three estimates from separate contractors. This will give you a good idea on how much in average the repairs will cost. One Caution! There are might be hidden damages that will cost you extra and most contractors have an open ended statement in their contracts to that effect. So be prepared for that.

The one thing you will need to pack on this trip is a lot of patience….and be ready for a longer trip!!!

buying, commitment, Communication, education, Inspiration, planning, Team work

Selling your home to today’s buyer.

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familyWhen you thinking of selling your home you should not only make it shine from the inside and out, you should think about what type of buyer is in the market. It also depends what type of buyer would be looking at your house in the area where you are located.  For example you will not see young buyers in a 55 and over neighborhood.

61% of today’s buyers are between 20 and 48 years old, 30% of the buyers are boomers, and the other 9% are the 68 and older generation. The younger buyer is attracted more often to the older homes. It might be due to pricing or they might not be turned off by having to make possible renovations or updates. Where the boomer generation is ready to retire and they are looking at homes that don’t need such repairs. While most of the buyers that are under 60 are attracted to the single family freestanding rather than the condo, the younger buyers are tending to look at connectivity and convenience to the job, shopping, entertainment, good schools, community, cost, and community conveniences.

Most all buyers regardless of what age group started their search for a new home online and very few contacted a mortgage professional. However, most of them purchased their home with the help of a real estate professional.

There is nothing you can do about the location of your home but you should consider who you are selling to and decide whether or not to update your home prior to selling. When you don’t make any renovations or updates to your home be prepared to attract a first time buyer who is not willing to pay much for the home compare to a buyer that is willing to pay a close to full price when your home is renovated and updated.

buying, commitment, Communication, education, Inspiration, planning, Team work

Many homeowners are becoming first time investors

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office_deskWith low mortgage rates and still many “want to be homeowners” not being able to buy a property, the rental market is still a great investment for someone who is considering getting into the rental market. There are also many homeowners, who when buying their move-up house, see the opportunity to offer their previous home for lease rather than selling, and often rent it out for more than their current mortgage payment.

2014 shows great signs that it could become a strong buying market. The huge difference between buyers from 2012/2013 to a 2014 buyer is that today’s buyer is a much more patient buyer. When the house is not priced right they are willing to postpone the purchase and wait until the price is within the range for which they are willing to work. When the house would sell at a price higher than they were willing to pay, they have no trouble moving on and looking for the next opportunity. The 2014 buyer is not falling in love with the house they are falling in love with the deal. And when the deal is not right they move on.

Buyers are worried about the low inventory and that is what has taught them to be patient and wait for their right deal to come across their desk.

What does this mean for a seller?

Just putting your house on the market and hoping it will sell will no longer be enough. Your home has to be the seductresses to attract buyers and it needs to be priced right. Today’s buyer is well informed through the use of the internet and with the help of their buyer’s agent. When a property is priced to high they are more than willing to walk away and wait for the seller to lower their price. They are not in the mood to deal with long negotiations.