So it's understandable that when prospective buyers come through your house, your home will be scrutinized ...]]> So you’ve decided to take advantage of the booming real estate market and put your house up for sale. As you know, buying a house is the most important purchase a consumer can make.

So it’s understandable that when prospective buyers come through your house, your home will be scrutinized like it’s never been before (well not since you bought it anyway!). Everyone knows you never get a second chance to make a first impression, so consider implementing the following cost-effective suggestions, before you welcome any potential buyers.

Consider the view that people see when they first drive up.

To ensure that you don’t send any potential buyers running down the driveway before they even see the house, make sure the exterior of the home is spotless. Paint or wash as necessary and don’t forget to mow the lawn and spruce up any outdoor greenery.

Upon entering your home, what will they see?

If you have a room that makes a statement when you walk in, perhaps the walls are painted a very bright colour or the style of furniture is eclectic, potential buyers may have a difficult time picturing their own stuff in the room. A fresh coat of paint in a neutral colour is an inexpensive but proven technique for increasing the appeal of any home. A clean, fresh smell makes a good impression. Try placing air fresheners in closets to eliminate musty smells. The smell of freshly baked bread also goes a long way. Don’t go overboard though – not everyone likes the strong scents of potpourri or incense. Of course, it goes without saying that clean and bright equals a sale. Scrub, clean, wash windows, walls, floors and tiles and shampoo dirty carpets – leaving no stone unturned.

Clean under sinks, repair any leaks and clean up any damage.

Use special cleaning agents to rid toilets, tubs and sinks of stains. If you have lots of stuff, it’s hard for potential buyers to see around it to see the room. Store any miscellaneous items, making sure to keep the garage, basement, attic and any closets tidy. This will make your house look more spacious and clean. Make repairs as necessary. If the baseboard around the cupboard is loose, for example, get out the hammer or glue and fasten it securely. Are the handles on the closet door wobbly? If so, get out the screwdriver and tighten them. Potential buyers don’t want to have to look after a bunch of little things when they move in and they may subconsciously be noting all the little repairs.

In the end, they might reject the house because they think all the minor repairs will amount to a lot of work for them. By implementing these simple tips, you can ensure that your house will be off the market in no time!

About The Author

John Carle & Sharon Gregresh are Realtors with Royal LePage – ArTeam in St. Albert, AB. They pride themselves on providing more than just real estate sales and listings. Their clients benefit from a much larger spectrum or real estate services. Contact them any time at information@workingtogether.ca or through their website at www.workingtogether.ca. They can be reached by phone at (780) 458-5595

What typically happens is the loan will show up as "paid" on their credit report; however there will be a notation that says "settled for less than originally owed" or somethi...]]> 1. What happens to the seller’s credit rating when they allow an investor to short sell their property?

What typically happens is the loan will show up as “paid” on their credit report; however there will be a notation that says “settled for less than originally owed” or something along these lines. It is more favorable for a homeowner to short sell than to have a foreclosure on their credit report.

2. Where do you find investors for Short Sales?

Depending on where you live, you may see investors who advertise with bandit signs or in your local newspaper. Call the investors directly and ask them if they are experienced in doing short sales and if they would be interested in working with you. Another good place is your local real estate investors club meeting.

3. Define Short Sale?

A short sale is really a form of pre-foreclosure sale and occurs when the mortgagee agrees to accept less than the loan amount to avoid foreclosure. A negotiated short sale results in a discounted purchase price for the buyer. The buyer would finance the acquisition much the same as in any conventional realty acquisition… but without the luxury of time.

4. Can an owner profit from a Short Sale?

The seller cannot profit (monetarily) from a pre-foreclosure short sale..But there are always exceptions to the rule.

5. How do bankruptcies affect the possibility of doing a short sale?

Most mortgagees won’t consider a short sale if the homeowner is in bankruptcy…why? Because negotiating a short sale payoff is considered a collection activity. Collection activities are prohibited in bankruptcy.

6. Can somebody tell me what documents do I have to include in a Short Sale package?

Documents depend on the lender. Each lender has different requirements. It is typical to require hardship letter, purchase and sales contract, ECOR,settlement statement (HUD 1), net sheet, pay stubs, bank statements,personal financial sheet (monthly budget), amongst other things.

7. What percentage of mortgage companies send someone out for an appraisal on a possible short sale?

All lenders order a BPO or full appraisal of the property before making their decision to accept or reject the short sale offer. This is there only way of assessing the value of the property.

8. How late in the pre-foreclosure process can you start a short sale?

Try to allow a window of at least 90 days to effectuate a mortgagee approved, pre-foreclosure short sale.

9. What is a Due on Sale Clause?

“Due on Sale” Clause (DOS) Provision in a mortgage or deed of trust calling for the total payoff of the loan balance in the event of a sale or transfer of title to the secured real property. A contract provision which authorizes the lender, at its option, to declare immediately due and payable sums secured by the lender’s security instrument upon a sale of all or any part of the real property securing the loan without the lender’s prior written consent. For purposes of this definition, a sale or transfer means the conveyance of real property of any right, title or interest therein, whether legal or equitable, whether voluntary or involuntary, by for deed, leasehold interest with a term greater than three years, lease-option contract or any other method of conveyance of real property interests. Standard language which states that the loan must be paid when a house is sold.

10. Will banks allow a short sale when the owner has some or a good amount of equity?

If a property has what the lender would consider a substantial amount of equity, chances are they would consider allowing the property to foreclose and then reselling it closer to the retail value. Focus on homes that do not have much equity. Your job will be to create the equity in the home by negotiating a successful short sale.

Mr. Fowler has been a real estate investor for over 15 years specializing in the area of pre-foreclosure/short sale investing. He has bought and sold over 200 homes in Georgia, Florida, Louisiana, and Tennessee using the same short sale techniques that he teaches in his course, Making Money with Short Sales: The Complete Guide to Acquiring Property Pre-Foreclosure. Mr. Fowler currently resides in Atlanta Georgia. He also spends many hours per month teaching his creative real estate investing techniques to other aspiring investors across the country.

http://www.ShortSaleDeals.com

Utah

Utah is a state of open desert in the south and raging mountains in the north. Plunging gorges and raging rivers are something...]]> Mother nature has done some amazing work in Utah. Fortunately, you can live in the middle of the masterpiece with reasonable prices for Utah real estate.

Utah

Utah is a state of open desert in the south and raging mountains in the north. Plunging gorges and raging rivers are something to be seen in this state of immense beauty. If you enjoy outdoor activities such as fishing, rock climbing, skiing, biking, hiking, camping and water skiing, Utah may just be your nirvana.

Salt Lake City

Host of the 2002 Winter Olympics, Salt Lake City is relaxed place to live and centrally located to many of the wild wonders of Utah. As host of the Olympics, a tremendous amount of money and effort was put into the effort and it shows. The city has a very modern atmosphere that surprisingly mixes with a more staid way of life. The nightlife can be surprisingly active. If snow skiing is your passion, Salt Lake City is surrounded by some of the best skiing in the world.

Provo

Home to Brigham Young University, Provo has a definite college atmosphere but with a twist. The town has a strong Mormon influence and the lifestyle can best be described as very conservative. Although you will not find a very active nightlife, the town sits in a beautiful area and is ideal for raising a family without worry about the typical risks associated with living in many cities. If fly fishing is your passion, the Provo River provides plenty of opportunities to try out your flies.

Utah Real Estate

In general, Utah real estate is very affordable. A single-family home in Provo averages $235,000, while you’ll need an additional $30,000 for the same home in Salt Lake City. These prices, however, do not apply to any of the ski resort areas such as Park City. You can expect to pay a premium for property in such areas.

The appreciate rate for Utah real estate in 2005 was eight percent. Although below the national average of 13 percent, this is still an acceptable rate.

Raynor James is with the FSBO site – FSBOAmerica.org – homes for sale by owner. Visit our home buying page to view and buy Utah real estate.

#1. Falling In Love With The Home: Hey, it's just a house built out of sticks and clay. There are tho...]]> In my profession as a home inspector, I get to witness some amazing flipping deals. Some are profitable, some aren’t. Here are the common mistakes I see flipper continuing to make.

#1. Falling In Love With The Home: Hey, it’s just a house built out of sticks and clay. There are thousands more. If you can’t keep from falling in love with every home you see, then flipping homes isn’t for you. Never forget it’s a business, treat it that way.

#2. Keep Your Mouth Shut! There’s an old saying in the Navy. “Loose lips sink ships”. More than once I’ve inspected a home for an Investor and have the Investor call up a week later saying they lost the deal to someone else. Some people just can’t keep their mouth’s shut. Wait until you walk away from the closing table to tell everyone what a deal you made!

#3. First Impressions Are The Most Important: Spend the dough on the landscaping and exterior of the front of the home. I’ve seen more homes sold and more homes fallen in love with (see rule #1) from a great first impression than any other single item. Clean and shiny door knobs, door knockers, coach lamps and address numbers will add to the impression. If it doesn’t add cosmetically to the home, get rid of it.

#4. Don’t go overbored The simple fact is that most homes can be flipped for a decent profit by cleaning and replacing the carpet and paint. Too many times flippers think they need to sink thousands of dollars on a home to make it sell.

Many times what happens is they will remodel the home and it ends up being priced higher than anything in the neighborhood and sits on the market untill the Investor drops the price. Take a page from the flipping pro’s book. Keep it to the basics. You’re trying to make a profit, not make the front cover of a glamour magazine.

#5. When In Doubt, Reread Rule #1 Some people need Rule #1 stapled to their forheads!

#6. Don’t Get Greedy! If you’ve priced your home well, then take the first offer that comes along. It’s not worth your home setting on the market for months because you’re too tight to come off the price a thousand or two. Reread rule #1!

Donald Lawson is a Professional Real Estate Inspector licensed in Texas (#5824) and Oklahoma (#454). He currently owns and operates V.I.P. Home Inspections, a Houston Home Inspection company. If you’re interested in investment opportunity’s in Houston Tx, see his Houston Real Estate page.

If you are conside...]]> There are advantages to using the new roofing products. The cost, durability, and life cycle are longer. The new products are created from recycled and natural materials. When your roof, made of shingles, needs repair, the old shingles are removed and taken to a landfill.

If you are considering one of the newer roofs, you must take the weight of the material into consideration. Some of the newer materials, such as slate and tile, can weight five to ten times more than asphalt shingles; therefore, the supports must be strong enough to hold the added weight.

While this will increase the expense of installation, the expense will only occur once. To determine the actual cost, you must take both the cost of the product and the added expense of strengthening the rafters or trusses. Then determine the length of time of your product warranty.

If you are concerned about the environment, you can use recycled plastic products. Since they weigh approximately the same as shingle, you will not have to strengthen the support system. This will save you added expense while still allowing you to gain the benefits of the new materials. Plastic can carry a warranty as long as fifty years.

Other quality materials to consider using are:

1. Slate
2. Tile
3. Shakes
4. Fiber-cent
5. Cedar Shakes
6. Pine shakes

There are companies out there today specializing in a variety of roofing materials. Check online for more information. Improving and maintaining your Real Estate will help when you decide to sell your home.

Nan is an Accountant and Real Estate Professional with an information and research site online
RealEstateLady and a Business
Writer with a blog BusinessTips.

For many people, this is a good way to get a bigger house, get a cheaper house, or make money by fixing up the house and re-selling it.

If you've never owned a house that needed lots of work, then you owe it to yourself to t...]]> Are you thinking of buying a home that needs a little work?

For many people, this is a good way to get a bigger house, get a cheaper house, or make money by fixing up the house and re-selling it.

If you’ve never owned a house that needed lots of work, then you owe it to yourself to think about this decision carefully before signing any paperwork!

What are the benefits of owning a home that needs a little TLC?

There are many benefits to buying a home that needs some work.

If it’s an older home, then many older homes often have a lot of “charm”. Materials and workmanship are often very good in an older home. Floor plans are often “creative”.

And you can certainly get a home that needs some work for a lot less money!

But what are the issues to consider before buying a “handyman (or woman) special”?

First, is the house up to code?

While owning a home that is not up to current construction standards is not a problem in itself (most towns recognize the codes used at the time the work was actually done), if you do any renovations or remodeling and need a permit, you may run into trouble – and have to do extra work to get the house up to the standards of the current codes.

And this work can sometimes be costly. So before you buy any house – especially one needing some work to get it into shape – have the house inspected. This is a small investment that could save you many times to price of the inspection!

Finding problems is not a bad thing, it just helps you avoid unpleasant surprises and gives you more information to help you make the right buying decision for your situation.

Second, do you have the time to do the work?

If you have enough money to hire someone else to do the work, congratulations! If not, take some time to think this one through very carefully.

If you’ve never done the type of work needed, expect that you will make some mistakes while learning – and that these mistakes will cost you both time and money!

And if you have fixed up a house before, you already know that what you see on the surface does not always tell the whole story. Once you remove a wall, a floor, an appliance, etc, you may find a whole new set of problems you never considered.

Not that you shouldn’t even consider fixing up a house on your own. Just be prepared for the reality that if the section of the house you can see has not been well maintained, that the structure underneath may not be in great shape either!

Third, do you have the money to do all the work?

And if you don’t, can you live in the house while you wait?

As mentioned above, sometimes a project involves much more than meets the eye. And construction costs can easily go upand upand up!

If you have enough cash saved up, good for you. But do you have more than enough saved up, in case there are surprises?

Tough question, but one to consider carefully!

Should you just avoid buying a “fixer upper” unless you are a handyman (or woman)?

Trust me, there is no greater feeling than finishing a project that makes your home look better (and more valuable).

So if you like getting dirty, if you like learning new skills, and if you like doing your own work, buying a house that needs work can be a tremendous experience.

But getting to the end of a project can be challenging.

And it’s a challenge you definitely need to be ready to take on!

Kris Bickell is the owner of HouseBuying-Tips.com, a site that helps first time home buyers avoid the costly mistakes that many new homebuyers make. For more tips on buying a house, getting a mortgage, finding a realtor, and getting out of debt, sign up for the free “How To Avoid These 10 Costly Mistakes When Buying Your First Home” email course at: http://www.HouseBuying-Tips.com/