Yes!  You can get top dollar for your home!

Yes! You can get top dollar for your home!

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In addition to the # 1 rule in Real Estate   “Location, Location, Location” there are some other suggestions you can benefit from, to get top dollar for your home!

The strategy varies by neighborhood and market conditions, but staging a house to appeal to the maximum number of buyers can make difference in how fast the home sells.

If you have a limited budget, here are some tips that can make your house to sell for a top dollar:

  • Add color to you landscape by either replacing flower beds or potted flowers, along with fresh sod.
  • Replacing light fixtures and plumbing fixtures will give your home a modern touch for a minimal investment.
  • Consider removing popcorn ceilings; however you need to be careful because popcorn ceilings of pre-1979 homes are likely to contain asbestos, and you need someone licensed to remove it.
  • Remove window treatments, unless they are current and high-end. That cuts the risk of turning off would-be buyers who don’t share your taste, and uncovered windows that will let more light into the rooms.
  • If you’re using your dining or a bedroom as an office for example, turn it back to their original painting a homeuse.
  • Replace dirty or worn carpet, you’re better off removing the carpet if there are hardwood floors underneath.
  • Uncluttered your house by packing away items that you will not use on an every day basis is a must. You want the new family to envision themselves living in the home.
  • A deep cleaning before you put your home on the market is a must, so everything shines.
  • Repaint all rooms in neutral colors. A fresh coat of paint also makes the house look newer and more modern.

With a few simple, low-cost tweaks, you can significantly enhance your house’s curb appeal. Focus on low cost improvements. Since every dollar counts, devote your time in renovations that’ll bring you a return.

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What’s  better buy?  A New or Used Home.

What’s better buy? A New or Used Home.

There are several factors beyond economics that drive this decision, and there is not a specific answer for it. Buying a new home or resale home is more of a life style. It is to decide best what fits your needs, comfort and personality.

So how do you decide?

For once keep in mind that for every qualifier, there is a disqualifier.

You will find good arguments for buying a new home; however you will find also great arguments to buy a resale home.

The truth is that every house has its own unique attributes that will match your personality and needs. On the other hand, builders can never fully re-create the nation’s quaint old neighborhoods, where every house was built architecturally distinct from the neighbor’s. And home buyers will never be able to fully assemble their dream homes the way they want unless they customize the home starting from scratch. So the choice between the two is always a relative call.

First of all, the well-known phrase in real estate: Location, Location, Location should continue at the top of our list. Older homes usually are located in the town’s center of well stablished neighborhoods, which can be good or bad depending on the vitality of your urban area.

Existing homes are usually less expensive per square foot. In new homes although Prices can be more  negotiable than an existing homes, there may be also additional cost under these new subdivisions and homeowner’s association, with mandatory fees and other assessments for architectural controls.

A new development usually offers an opportunity for you to help create your own neighborhood lifestyle. In older communities, people have moved in and out over the years and tend to get more diversity in the neighborhood.

Older homes mean more houses for your money; they may have additional space you can eventually add to the current building structure. On the other hand, new-construction homes often employ more efficient, innovative uses of square footage and property, and may have limited space for future additions.

While new homes are built expressing a modern style, older homes on the other hand can maintain more of classic look, such as Victorian Style Homes for example.

New homes builders have to follow very strict regulations, and are usually more fire-safe structured, and are built with building materials that promote energy efficiency benefits, such as thicker insulation, Energy Star windows, and more efficient energy-saving appliances as well. Older homes, unless they have already undergone an energy retrofit, it will add additional cost to upgrade it. The cost of maintenance goes hand to hand with older homes, especially if the previous owner did not keep up with proper maintenance of the home. Building materials may be harder to replace or match in an expansion or remodeling.

Newer homes tend to impose higher taxes on you because these are new subdivisions, because the community will still need fire and police coverage, sidewalks, sewers and probably a new school, where a more established home in a built-out area has a little more predictable tax structure.

With new and old construction homes, is always recommended to perform a professional home inspection. This is the only way you may be able to find the actual condition of the property; regardless if is a brand new home. It is known that buyers that have purchased brand new homes have discovered defects after purchasing these homes.   Inspect the property before you settle!

 

Consumer Sentiment: Moving Forward!

Consumer Sentiment: Moving Forward!

Consumer confidence declined in September, rebounded in October and jumped more than two points in a preliminary November estimate, beating economic forecasts and hitting a more than seven-year high.

The Thomson Reuters/University of Michigan Index of Consumer Sentiment registered 89.4 in a mid-month reading, the best showing since July 2007. Economists had forecast the measure would hit 87.5, with some predicting as high as 89.

What factor have contributed to this improvement? The declining of oil prices and an improving job market were probably the main factors that led to this surge in consumer sentiment. A more favorable business conditions perhaps also helped the consumers’ view of the present situation. This solid increase suggests consumers have largely dismissed concerns about slowing global growth and have ignored the sharp swings in financial markets earlier this month

US consumers expect better economic growth and rising incomes in the coming months and overall positive growth in our economy, leading to a stronger dollar and making other investments more attractive. Consumers regained confidence and are more optimistic now about their future earnings potential, and with the holiday season getting closer and closer, we may see ever higher numbers in consumer’s confidence.

What about the Housing Market? Considering that the Federal Financing Housing Agency has recently opened more doors for eligibility criteria in the purchase of  homes, we expect to continue with good news about the economic outlook in general.

Jumbo Loans Cheaper and Easier to Get!

Jumbo Loans Cheaper and Easier to Get!

bigstock-Resort-collage-made-of-Cyprus--14454446Wealthy home buyers are paying lower average rates on high dollar loans, and in some cases, they don’t even have to worry about a large down payment or mortgage insurance.

For months, lenders of jumbo mortgages have been charging interest rates that are lower  than what average borrowers pay. Jumbo loans are mortgages that above $417,000 or $625,000 or more in high-priced markets.

Many lenders also have requiring as little as 10 percent, which is about half the normal rate, waiving the private mortgage insurance, and even lowered their credit standards for jumbo loan originations.

Luxury homes are selling faster than last year, according to data through July from Realtor.com.   The median age of listings ranged from 80 days  for homes listed at $1 million or more.

What matters the most…Home Prices or Low Rates?

What matters the most…Home Prices or Low Rates?

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Whether sales price is more important than the interest rate depends on your perspective. It’s pretty much impossible to time the real estate market, but you can try to take advantage of the way the market moves.

A dramatic rise in home prices can slow home sales even when mortgage rates are low if mortgage availability is tighter.  Banks prefer higher prices to recoup their capital from their bad bubble-era loans, so they are offering 4% interest rates to prevent prices from going any lower.

However, most buyers prefer lower prices, but since the banks make the rules which determine market prices, low interest rates and high prices are what we get.

Buyers who purchase during a period of high mortgage rates may get the boost in appreciation from declining rates.  Low mortgage rates build equity faster through amortization but slower by appreciation. High mortgage rates build equity faster by appreciation but slower through amortization.

You can’t always predict how the market will move. But you can watch it move and get ready, set…GO!!