Tag Archives: First-time Home Buyer

Make Some New Year’s Resolutions for Your Home

from Styled, Staged & Sold by Melissa Tracey Charlene

The holiday season is over for another year, and many of us use this time to make personal resolutions for the year ahead — such as promising to lose weight, spend less money, make more time for ourselves and our families, and the list goes on. If you’re like me, it’s a rolling list that gets carried over from year-to-year, yet never seems to get accomplished.

This year, I decided not to do that. Instead, I’ve made a list of resolutions for my home.

Have you made a home resolution list for this year? If not, give it a try, especially if you plan on selling your home in the not too distant future. It’s never too early to get your home looking its best for potential buyers.

Here are a few items that are on my list in random order:

Tackle the basement storage area. Items that have stayed in boxes since our move five years ago are obviously items I can live without. If I haven’t used them or missed them in that time period, chances are I won’t yearn for them if they are given away. The key for me will be to not look inside the boxes. If I do, I know I’ll find an excuse to still hang onto each and every item. Maybe I’ll get my hubby to take a peek inside each box before they “exit the building” though (just in case).

Sort through all my old decor and design magazines. Recycle any magazines that are older than July of 2009. Then by July of this year, I’ll set out to recycle any 2009 magazines that are still left on the shelves. If I keep a rolling one-and-a-half year subscription on hand of the many magazines that I subscribe to, it will be more manageable and take up less space. I’ve bought magazine holders to store them in so that they’ll be much easier to get to if I want to refer back to a particular issue.

Cleanse clothes closets. This is a particularly tough one for me. I have a hard time parting with any of my wardrobe. You just never know when that certain outfit will become trendy again. Logic tells me though that by the time a particular outfit comes back into style, I’ll be way too old to pull off the look anyway, so it’s best that I listen to my head and not my heart and/or ego.

The toughest to let go of: the ‘Remember When Collection’. You probably have a few pieces from the same collection – a.k.a. the “remember when this used to fit me” collection. You know the ones that you hang onto for when you drop those few pesky pounds. If you haven’t worn it in one year, it’s time to let go. If you’re planning on selling your home, remember that people will look inside your closets.

Go through the china cabinet and donate items that are never used. After all, how many of my grandmother’s non-matching china teacups and saucers do I really need to keep? Right now, they’re jammed into the cupboard below my cabinet teetering precariously every time I open the door. It’s a good thing we don’t live on an earthquake fault line!

But to justify their purpose: I vow to use my good china and silverware more often and not just saving it for special occasions. In fact, I’m going to make a four-place setting of “my good stuff” more accessible by keeping it in one of the kitchen cupboards. That way, I can use it whenever I want. In the end, who is going to want any of it anyway once I’m no longer around? I know that our kids won’t be interested in anything that can’t go in the dishwasher. And if I get dish pan hands from using them, so what — I’ll treat myself to a manicure!

These are just a few items on my home resolution list, but I’m sure that as the year goes on and I work through my list, I’ll come up with other items to add as fast as I tick these ones off. But hey, even if I strike a few of them off the list, I’ll be ahead of other years.

5 Tips for Marketing Your Home in Winter

Spring is traditionally regarded as the season when eager home sellers spruce up their homes and put them on the market, increasing inventory levels for potential buyers. This year, however, the depressed state of the housing market has left a glut of unsold inventory lingering.

If you are one of the 4 million homeowners with a property listed for sale on Zillow, consider giving your home a winter face-lift.  There’s a ton of competition in the marketplace and your listings need to be in  tip-top shape — regardless of  unruly weather conditions and winter holidays.

5 Tips to Marketing Your Homes This Winter

1. Remove snow and ice.

If a buyer can’t easily park and access your property, it won’t sell.  Shovel, salt,  and tidy your walkway and driveway on a daily basis. If the home is vacant or you don’t have time, hire someone to do this on your behalf.

2. Create a warm atmosphere — and turn on the heat.

If you know a buyer is coming through, turn up the thermostat. It’s tempting to skim on heat to save a few pennies, but buyers who come in and aren’t comfortable (aka: cold) won’t stay long. To create additional ambiance during an open house, throw a log on the fire or turn on the gas fireplace.

3. Light it up.

Use timers and technology to your advantage to make the home feel lived in. Install motion sensors to light up a driveway in the evening, and program indoor lamps to automatically turn lights on in the evenings. Another trick to create an instant mood is to tune the radio to the local classical station. The soft music is welcoming and soothing to buyers.

4. Limit seasonal decorations.

When it comes to decorating, there’s a fine line between festive and tacky. A few tasteful winter wreaths and dried arrangements are OK, but an inflatable Santa in the yard mid-February is not. Decorating not your thing? Hire a home stager and remember the golden rule, “less is more.”

5. Showcase seasonal listing photos

Since buyers won’t be able to fully appreciate your  landscaping or outdoor pool during the winter, show them an album of photographs taken during the warm months  when everything is in full bloom and the pool looks enticing. If all your listing photos are taken during the snowy winter months, swap them out with a fresh set come spring.

The Most Desired Home Size

By Melissa Dittmann Tracey, REALTOR® Magazine

The “small home” craze continues as buyers say they find less square footage more desirable. Nearly half of Americans say their ideal home size would range from 1,000-1,999 square feet, according to a recent survey by Relocation.com of nearly 1,500 home owners and buyers.

Just five years ago, the National Association of Home Builders reported the average home size to be 2,400 square feet — that’s 400 square feet larger than what buyers say they now want.

So what’s to happen to all the McMansions out there from just a few years ago when big homes were in their heyday?

Naturally, you would assume that the cost of home ownership has gotten buyers thinking smaller. But according to this survey, when asked whether cost was a main deciding factor in choosing a home, most respondents said it wasn’t very important. In fact, only 29 percent of survey respondents said that living costs was the most important reason when considering a move.

So why have buyers gotten so practical with their home buying decisions?

“As home owners rethink how much space they need, I think we’ll continue to see more innovative approaches to living well and sustainably within a smaller footprint,” said Sharon Asher, Relocation.com chairperson and founder, in a public statement about the survey results.

Other notable findings among the survey results:

  • Sububia reigns: The Relocation.com survey also found that 54 percent of Americans continue to find a home in the suburbs the most desirable. They want to live near the city but prefer the peace and quiet of the suburbs. Urban and rural neighborhoods were only preferred by 24 percent and 22 percent, respectively.
  • Main priorities in selecting a home: Neighborhood safety was an important factor in choosing a home. Buyers judged neighborhood safety by the upkeep of homes and front lawns in the neighborhood, word of mouth reputation, and local crime reports and statistics. Besides neighborhood safety, respondents also ranked proximity to decent shopping and having a large backyard as important factors in selecting a home.
  • Most sought-after features: Survey respondents said the most desirable features of a new residence are central air conditioning (87 percent); custom, walk-in closets (50 percent); and “top of the line” dishwasher and/or refrigerator (43 percent).
  • Least sought-after features: The least desirable home features were custom window coverings, followed by an in-ground pool or spa.

Appraisal 101 – 4 Part Series on Appraisals and What is Inside Them

Appraisal is probably a word that was brought up when you were buying your home or refinancing. You dug into your pocket and paid $300 or $400 but you probably have never seen your home appraisal. You paid for it, you own it, you have a right to a copy of your home appraisal, but to get a copy, a homeowner usually must request it from the mortgage company – in writing. Between the goings on of day to day life, someone is not likely to place a written appraisal request high on their priority list.

Most homeowners really don’t care about the appraisal. As long as the conclusion was the house was worth enough to justify the mortgage, homeowners are happy and, by the time the ink is dry on the closing documents, have forgotten they were ever required to spend the money.

Still, an appraisal is interesting and, in the future, might help you track your home appreciation in light of other sales in your neighborhood. Make the effort, you can probably request a copy by email, read it, then save it for future reference.

In the next week we will cover the basics of appraisals such as what goes into a Comparative Market Analysis (CMA), what is a Broker’s Price Opinion (BPO), and how an appraiser estimates your home’s value. Stay tuned! And for more information on appraisals or to get a referral for an appraiser in your area give us a call at 225-368-3237

Is it the Right Time for You to Buy?

Here at Janet Anderson & Company, we always think it is a great time to buy. Jill Simmons at the Zillow Blog just wrote a great article with some tips for those of you who may be curious as to whether now is a good time for you to purchase your dream home.

Reposted from Zillow Blog, By: Jill Simmons, Zillow PR Manager | September 1, 2010

It seems like a great time to buy a house (if you don’t have to sell), values are down (so affordability is up), interest rates are at all-time lows, and high levels of inventory are languishing on the market. It all adds up to buyers who have negotiating power.  Yet, the latest housing reports are undoubtedly making many home buyers skittish about entering the market.  Here are just a few tips for people trying to figure out if now is the time to buy:

  • Set realistic expectations about home value appreciation. Zillow is expecting minimal appreciation in most markets over the next few years, so the first thing any buyer should do is figure out how long they are planning on staying in the home. If it’s not at least five years in most markets,  consider renting a home, instead of buying.
  • Don’t try to time the bottom, you’ll never get it exactly right.  While some markets have further to fall, the steep drop in values are most likely behind us.  Some markets like San Francisco and San Diego are already seeing 5% appreciation year-over-year. If you are planning to buy within the next year or so, you should definitely start shopping.
  • Research your loan options. Yes, interest rates are at historic lows, but it’s hard for many potential buyers to get financing let alone a super low rate.  Increase  your chances of finding  the lowest rate available to you by shopping around. Shameless plug:  Zillow Mortgage Marketplace allows you to get custom rates from a variety of banks (national and regional) and brokers. Don’t worry, you can compare rates and lender reviews without sharing any personal information.  You call the lender if you are interested, not the other way around.

How to Buy Your First Home, the Easy Way!

Buying your first home can be intimidating. But we have prepared a special report to arm you with the knowledge that will make the process quick and easy!

Our report will reveal hidden secrets that will have you firing away with all the right questions. You’ll know what to ask, when to ask it and best of all, how to close out the purchase and move in!

The information in this report will truly bring to light how easy it can be to move into the home of your dreams! So stop handing your landlord the rent check and start investing in a home of your own. Our free report will show you how!

For free recorded information and your FREE report, call 1-800-894-0517 and enter Ext. #3008 anytime 24 hours a day. Do it today and soon you’ll be living in the perfect home that’s just right for you.

If you would like your report e-mailed to you, visit our Contact Page here and let us know. We will send one right out to you!

Why You Should Use Janet Anderson & Co. to Purchase a New-Construction Home

The advantages of having us help you purchase a new home are the same as those for purchasing a resale home. We can provide you with valuable insight into the new construction industry, help you find the perfect home quickly, and then provide you with expertise in contract writing, negotiation, and closing assistance. The builder has a professional real estate representative who watches out for his or her best interests, and you need and deserve the same expert representation watching out for yours.

Buying a new home is a little more difficult and time-consuming than buying a resale home. We can professionally guide you through this process. Having spent years working with builders, Janet Anderson & Company has a rapport with them and a database of information about subdivisions, floor plans, etc. We are also very familiar with new home warranties and the nuances of the builder’s purchase contracts and various home inspections.

It is very important that your interests be professionally represented when you are entering into a contract for a semi-custom or a build-to-suit home. These transactions are complex and the contract details must be exactly in order to protect you and to ensure that you get exactly the home you want!

And when it comes to the home inspection, we will explain to you why it is essential to hire an independent home inspector to thoroughly inspect a newly constructed home.

Are there any advantages to not using an agent to purchase a new home?

There is no financial advantage for you to buy directly from the builder. Builders have a “single price” policy, meaning that you will be charged the same price whether your interests are represented by an agent or not. Just as in any resale, the seller pays your agent’s fee. Most builders will make you give up your right to representation if you visit their model homes without an agent on the first visit. Therefore, please call us if you would like to look at some model homes, so you are given the representation you deserve!

Before You Buy, Get Pre-Approved

It is extremely important that you connect with a qualified lender. We can recommend lenders who have earned our trust and with whom we’ve had good experiences in the past. The lender will review your financial position to determine the price most suited to your ability to pay and your comfort level.

The pre-approval process will help you in the following ways:

• You will know in advance what your payments will be.

• You won’t waste time considering homes you cannot afford.

• You can select the best loan package without being under pressure. There are many options and programs to choose from in today’s market. Your lender will explain the alternatives to help you select the one best suited for you.

• Sellers will find your offer to purchase more favorable if they know in advance of your ability to secure financing. This will make your offer more competitive if you are in competition with other offers. Nowadays, most listing agents require a pre-approval letter to accompany all purchase agreements.

• You’ll have an estimate of your closing costs and we will explain them to you in detail.

• You’ll have peace of mind.

Tips for Merging Two Households

First time home buyers may find themselves with the tricky task of combining all of the household items accumulated through the years of being on their own. Here are a few tips to keep your special items, decide what goes, and maintain your relationship once the dust settles!

Reposted from ApartmentTherapy.com

• Talk: Seems simple, but it’s seriously overlooked. Make sure you’re on the same page about your expectations. You’ll need to know what each other are planning on bringing — especially the big stuff such as furniture.

• Plan: Make a plan. Sit down together and figure out a layout for each room (communal areas for roommates, each room for significant others). If you figure out where things will be placed ahead of time, it will save a lot of arguing and headaches. It’ll also help save your wallet because you might not run out to purchase something if you know you already have a full room.

• Expect the Unexpected: You may be surprised by the extensive troll collection your significant other had tucked away before you decided to move in together. That new built-in shelving in the living room seems like the perfect place to them. Know how to roll with the punches and handle the situation accordingly.

• Compromise: There will be the few things that you will not see eye-to-eye on and that’s okay.

• Mix & Match: Maybe your roommate moved in with some really great curtains, but you have a set as well. Switch them out periodically to let each voice be heard in the communal spaces! This also works really well for throw pillows and blankets — just throw them all on the couch and see what works and what doesn’t.

What advice do you have for merging two households?

Reasons Why You're Crazy Not to Buy

• Property taxes and qualified home interest are deductible on an individual’s federal income tax return.

• Many times, a home is the largest asset an individual has and is considered one of the safest investments available.

• A homeowner can exclude up to $500,000 of capital gain if married filing jointly or up to $250,000 if single or married filing separately. The home must have been the taxpayer’s principal residence for the previous two years.

• A portion of each amortized mortgage payment goes toward the principal, which is an investment.

• A home is one of the few investments you can enjoy by living in it!

• The majority of the time, a REALTOR® can show you any home, whether it is listed with a company or a builder or is even a For Sale By Owner.

• Working with a REALTOR to purchase a For Sale By Owner property is very advantageous, because someone will be looking out for your best interests.

• A real estate professional who can provide you financial information with a computer will give you a distinct advantage in making the right decisions.

• A pre-approved program will actually approve you for a specific loan amount subject to the property.

• Your real estate professional can provide you with a list of items that you’ll need to make a loan application, so you’ll be ready when the time comes.

• The right to conduct a property inspection, included in your purchase agreement, gives you the ability to negotiate with the seller once you know all the facts about the property’s condition.

• A Home Protection Plan can provide coverage for selected items, such as central heat and interior plumbing, built-in appliances, water heaters, etc. If the seller is not providing this coverage, you can purchase it yourself.

• Ask your real estate professional if he or she is familiar with the neighborhoods you want to live in. Ask how many homes he or she has sold in those areas in the past year.

• Working with a REALTOR who has an office “team” helps assure the buyer that the transaction will be handled smoothly.

• In a “seller’s market,” don’t go looking for a deal. Set your sights on the right house for you, and then let your REALTOR help you negotiate the best price and terms.