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When deciding to sell to sell your home, a little extra work can make a huge impact as to how smooth your transaction will be. It will have an impact on who will be looking at your home, what a prospective buyer is willing to offer you on your home, and even if you get to the closing table!

Personally dealing with the West Bend Wisconsin real estate market, I can tell you that anything you do cosmetically to increase curb appeal will help with the sale of you home. This means you are staging your home to look like it is on display. Many common improvements that have an impact on selling a home aren’t very expensive at all. Simple tasks, such as giving rooms a fresh coat of paint, quickly pay off.

Those planning on adding a “for sale” sign to the front lawn this spring might want to consider these five areas while creating their to-do list when getting ready for sale.

First Impressions, Lasting Impression!
Giving your home the proper look is going to determine how potential buyers feel about your home the second they pull up. History shows the first impressions are based on the home’s exterior, the shrubbery, the gutters and the front door. This includes the landscaping of the yard, maintained bushes with no overgrowing, and overall curb appeal. If there is a fire hydrant near your property, it may be wise to add a fresh coat of paint giving the neighborhood a little more glow as well. After all, you technically are selling the neighborhood as well.

Peeling trim or an odd color exterior of a home could lose potential buyers before they even set foot in your home. This goes hand -in-hand with your Realtors online marketing as well. Hundreds of people searching for there next home are going to be making decisions to move foreword with there purchase based on there interest online. Having good wide angle pictures of a home with great curb appeal is going to attract three times as many buyers to set appointment to come a view your home. Studies have shown the now in 2007, 87% of home buyers start there home search online, and online buyers purchase on average of 3 weeks earlier than traditional buyers. Don’t fall victim to poor first impressions. It could be the kiss of death for your homes sale.

De cluttering and Neutralizing
When it come to preparing the interior of your home, real estate professionals will advise a client to make a move to more neutral colors. It seems that people can’t visualize beyond what they see. Neutral colors, including beige and ivory, can also have an added advantage of making a room appear larger. Adding higher wattage lights is a good idea because it makes the home more bright and spacious.

Take down your personal pictures! Someone that is actively searching for a home is not going to want to see your wedding photos, pictures of all the kids, graduation pictures, and other wall knick-knacks. This makes your home seem to personal and may make the viewer feel unconvertible about being there. Or worse, be more interested in your belongings than your home! Other than keeping your home clean, do some basic spring cleaning: Shampoo the carpets, rebuff hardwood floors and oil any wood cabinetry

Replace Things Before It Becomes An Issue
Sellers might also consider having a home inspection done prior to listing the home as a way to detect any overdue replacement projects. A seller has the option of either fixing the problem or giving the buyer a discount to account for the needed repairs, but Mr. Gillespie is an advocate for making the necessary repairs before selling. Home buyers recognize the value of a house that doesn’t need major repairs. It is best to be able to address issues before someone puts in offer in on your home. It is just one way for the deal to possibly fall apart.

In fact, according to the 2006 “Cost vs. Value” report from Remodeling magazine, a roof replacement for a midrange home had an average cost of $14,276, and returned $10,553, or 73% at resale. A vinyl-siding replacement had an average cost of $9,134, and returned $7,963, or 87% at resale.

Kitchen & Bathrooms
It’s no secret that buyers tend to be awed by updated kitchens and bathrooms.

If the last time it was remodeled was in 1972, that’s going to be points against versus another house that was upgraded even five years ago with sort of a modern look. It’s hard to go wrong with a kitchen or bath remodel unless you get a little too edgy with the design or the materials. Keep them classy.

If kitchen cabinets are structurally fine but their exteriors are outdated, it might be worth it to reface them. If counters are old, replacing them will add new life to the room.

Offer a Home Warranty & Having Documented Work
Sellers can provide some extra peace of mind to buyers by purchasing a home warranty on their home that will cover such things as heating and plumbing should the buyer run into problems after closing. The coverage is getting more popular nowadays. Warranties can be bought from companies including American Home Shield and Aon.

I, Dan Burgeson, Explain to my potential clients that when putting there home on the market, providing a Home warranty will lower the amount of time there property is on the market. Buyers like to know that nothing is going to happen to them once they close on there home. Providing a home warranty says something about your home. It tell buyer that your home is in great shape and to prove it, we will cover any issues for a year after you move in. Coldwell Banker has a relationship with American Home Shield and can be advertised on every home listing. Displaying the age of the water heater and furnace isn’t a bad idea either. If one is on the older side, have it inspected for proof that it functions correctly. Also, explain if any home improvements have produced a cost savings in terms of energy usage. WE Energies in Wisconsin give a tax credit for energy efficient homes.

Countrywide Financial Corp. has instructed its brokers to no longer offer zero-down mortgages as an option for borrowers, the Wall Street Journal reports.

That’s because such loans are among the biggest reasons for a recent and sharp increase in the level of delinquencies at U.S. home lenders.
Countrywide joins such other companies as General Electric Co.’s WMC Mortgage and Washington Mutual Inc. in requiring that loan applicants have at least a 5-percent stake in their homes.

Previously, “if you breathe and have a Social Security number . . . you were going to get a house,” notes Mark Cady of Market Street Mortgage in Houston. Now, lenders are demanding that applicants have higher credit scores and contribute a bigger down payment, among other requirements.

While the flow of money available to the subprime borrower community is likely to slow considerably as a result of this trend, observers note that lenders not subject to federal regulation will continue to offer higher-risk products such as 100-percent financing and interest-only loans.

Sources: Wall Street Journal, Houston Chronicle
Originally Published On: Realtor Magazine Online

You don’t think about future maintenance costs when buying a home, but you should. Whether buying an older home or a newly constructed home, equipment can be faulty and costly to repair.

Usually a home’s purchase price can be used to project maintenance costs. The recommendations for annual maintenance costs range from 1.5 to 4 percent of the home’s original cost. While this is not always true, especially when the purchase price of a home is three-quarters of a million dollars, it is a good rule of thumb for the average home buyer.

Since most home buyers are focusing on making the down payment and not saving for future repairs, a home warranty provides a good back-up plan.

Most home warranties cost between $300-$400 and will cover many major home systems and built-in appliances for one full year after close. A home warranty will either pay to repair or replace a covered item and the homeowner pays a minimal deductible rather than the full cost of repairs. It’s an easy way to manage your home’s finances and plan for those unexpected repairs.

When is the best time to buy a house? With many markets reporting an abundance of homes for sale, and interest rates remaining at near historic lows, now might be one of the best times in recent memory. While today’s real estate market does offer advantages to buyers, consumers still need to be savvy in order to get the best deal they can.

Following are some things that the professionals at Coldwell Banker Real Estate Corporation think every home buyer should keep in mind:

Don’t Try to Time the Market. When home prices are lower, it is very tempting for potential buyers to try to wait as long as possible in the hopes that prices will decline even further. This strategy can be detrimental because when there is high inventory, smart sellers price their homes properly – not according to past sales but according to current conditions – so their homes will sell in a timely fashion. Once a home is priced to what the current market will bear, buyers will make offers.

Shop Around. But Don’t Wait Too Long. The National Association of REALTORS reports that, on average, homes stay on the market for 7.5 months. The increased inventory gives home buyers a great opportunity to compare homes that meet their needs. However, this does not mean that home buyers should procrastinate. If you find a house you love, put in your bid and negotiate. Don’t provide an opportunity for another buyer to make an offer.

Watch Mortgage Rates. Studies such as the 2006 Coldwell Banker® Homeownership in America Index revealed that that majority of people move based on lifestyle changes such as new job, marriage, divorce or family expansion. Pay attention to the mortgage rates and recognize that buying a new house will likely result in a change in mortgage rates. How much? A monthly payment of a 30-year fixed 5.875 mortgage rate on a 300,000 loan is $1,774.61. The monthly payment at today’s 6.381 rate is $1,872.79, representing a $98.18 increase.

Negotiate on the Incentives. Sellers eager to move their homes may offer you a variety of incentives such as cars, trips, and even credit card bill payment. If you accept an incentive, make sure it makes sense for you. Instead of having your bills paid, you may opt to have the seller renovate the master bathroom or install new flooring. Of course, you can always ask the seller to simply deduct the amount in question from the list price.

Once you find the right home and decide to make and offer to purchase, there are several points for negotiation that should be included in your offer, including price, financing, terms, date of possession, inclusion or exclusion of repairs and furnishings or equipment. The offer to purchase should also provide a period of time for you to complete appropriate inspections and investigations of the property before you are legally bound to complete the purchase.

Your REALTOR® can advise you as to which investigations and inspections are recommended or required. Your REALTOR® can also prepare contracts on your behalf, and offer a general explanation of the contract provisions. The typical contracts that may be involved in a sale include an offer to purchase, counter-offer, addenda and amendments.