Preparing Your House For Sale - Part 2

With the spring selling season upon us, I wanted to give you some insight on how to get your house sold faster.  Whether you’ve already listed your house with a realtor, or are thinking about it, it’s never too late to make improvements.

First Impressions

Believe it or not, the front yard speaks volumes about your house. By sprucing up the front yard it can help bring out the best that your house has to offer. Many times I have seen buyers get turned off to a house before they even get inside. Buyers are fickle and funny; many do not have the ability to visualize how things can look. So it’s important to help them see your house at its best.

Main Entry: This is the gateway to your house. Make sure to take extra care to present this area in the best possible fashion.  If the front door needs replacing, replace it, if it needs painting, paint it.

Paint: A fresh coat of paint can go a long way and breathe new life into your house. Don’t go overboard. If your house has siding, have it power washed.

Yard: Cut the grass and trim the bushes. Weed the flower beds and plant some fresh colorful flowers.

Driveway & Garage:  Clean the driveway and garage. Remove oil stains. These can be removed using kitty litter and a stiff broom. If you like, you can purchase commercial products, but most contain kitty litter as their base.

Make sure the garage door opens easily and smoothly. Some WD-40 on the track and wheels works great.

Put the kid’s toys away and keep the front walk clear of clutter and tripping hazards. If there’s no room for your kid’s toys, the buyer will think there isn’t any room for their kid’s toys either.

Air Conditioner: Make sure the unit is free and clear of any rust. Repaint or replace the housing unit as needed.

Patio: This area should be free from debris and clutter. A nice patio set can make the yard more appealing. There is no need to buy one, just clean up and repaint the existing set as needed.

Swimming Pool: Keep it clean and inviting if the pool is open for seasonal use. If its still closed for the winter, keep the cover clear of leaves and dirt.

Next time we will discuss some areas inside the house that can be tended to with little cosrt and some elbow grease.

If you have any questions, or would like a no cost no obligation market valuation, please feel free to contact me.

Preparing Your Home For Sale (Part 1)

The spring real estate market is fast approaching, and I wanted to throw out some suggestions for anyone who may be getting ready to put their home on the market. Remember that the spring for real estate generally begins after Super Bowl Sunday.

 

Over the next few weeks I will post ideas and suggestions on how to prepare your home for sale.

Many Homeowners put their houses on the market and do not think about everything that should be done before hanging the for sale sign in the yard. Nothing pays dividends to sellers quite like elbow grease.

 

Good housekeeping, home repair, spaciousness and even pleasant aromas can help bring top dollar and fast sales.

 

On the flip side, a dirty unkempt house with deferred maintenance and bad odors can slow the process and lessen the value.

 

I am not suggesting that anyone do a complete a remodel, but remember what they say; the little things mean a lot.

 

Removing clutter from a room opens up the area and can give the illusion of spaciousness. Most buyers cannot visualize, therefore if they see your home as cluttered and messy they will believe that it is not big enough for them.

 

Next week we will begin with the first impression your home makes, the appearance from the curb.

Happy house hunting.....Frank

5 Need-to-Knows Before You Move Into The Neighborhood

Now that the holidays are over and you look at all the gifts given and received, you may realize that space is at a premium.

The real estate buying season is fast approaching and you may be giving some thought to buying a first home or upgrading to a larger one. Traditionally, right after the Super Bowl the spring season kicks off.

Buying a home can be very overwhelming. Everything from mortgages to contracts to property condition issues, there’s a lot to learn. An additional area you’ll definitely want to investigate in detail is your new neighborhood. 

Here are five things you should consider before buying

 

1. Is it a safe neighborhood? 

Before you buy a home or move into a neighborhood, do the research and check out things like Megan’s Law databases to see where registered sex offenders live. Stop by the local police precinct. Ask them about the neighborhood, and in particular the address of the house you are thinking of buying. If its a problem location, they will know for sure. Remember to utilize websites that offer crime maps and neighborhood information.

You may be very surprised at what you find.

2. How hard was the area affected by the recession? 

Look, its a fact that some locations have fared better than others over the course of the recession. Some of the hardest hit neighborhoods are where the best deals can be found, but understand that the harder hit areas might take longer to see a rise in home values, so you may want to stay put longer before you sell. 

3. The neighborhood’s flavor. 

Does the area you’re considering meet your needs? Are there parks and family friendly activities, or is this an area where mostly seniors live? Are there other children on the block or is it a place that brings in mostly singles due to its proximity to night life. What about traffic?. Is the street used as a cut through to get to other major roadways or highways, or is it located near a school or house of worship causing delays and congestion?

4. The feeling at different times of the day.

A home, and a neighborhood, might feel different at various times and days, so visit several times and at different times. On a sunny Sunday afternoon you may and see children playing,but at night you may see groups hanging out on the corner, or there may be music blasting from a nearby home. Knock on the neighbor's door and see what they can tell you. 

5. Neighborhood hot spots. 

Before you buy or move into an area, find out where all the stores, parks, restaurants and other hot spots your family will want to use are located. Your real estate agent can be a 

fabulous source for this kind of information.

Neighborhood information can be found by doing a simple google search, or accessing websites that offer these statistics.

Some excellent web sources are Sperlings Best Neighborhoods and SchoolDigger.com.

Happy New Year.

Frank

The 3.8% “Unearned” Income Tax

Now that the holidays are upon us, and the New Year is around the corner, I would like to take a moment to shed some light on the upcoming 3.8% tax that we have been hearing about.

The tax is set to go into place starting January 1, 2013. 

First, I would like to start off by telling you what the tax is not.

• It is not a sales tax on home sales
• It does not increase the transfer tax
• It will not affect any deductions already in place when the gains are less than $250,000 for an individual or $500,000 for a married couple
•  Lastly, the mortgage interest deduction will not be eliminated

The 3.8% is a tax on “Unearned” income, which includes investments, rental income and home sales.

So if you are asking if the tax will affect the sale of your home, the answer is no.

If you are in a tax bracket of an annual income of $250,000 or more, the capital gain on the sale of your house has to EXCEED the $250,000-$500,000 capital gain exclusion.

This is a very simplified explanation of how the tax works. I am not a financial advisor (nor do I play one on TV.) I strongly recommend that you speak with your accountant/advisor for a more detailed clarification.

Happy Holidays.

Frank