Staging Your Home for a Quick Sale

A few months ago we were out with a buyer looking at homes, when we stumbled across what can only be described as a “perfectly staged” home. This home stood out so incredibly well, we were almost embarrassed for all of the other homes we saw that day. And you know what? The buyer took notice!

The days of throwing a sign up and having competing offers come flying in on the first day a home is listed are gone. It’s competitive out there, and to win, you HAVE to stand out amongst all the other homes that buyers are visiting. It’s kind of like a first date, you wouldn’t throw on some sweats and run out the door… would you?

So here are some great, quick and easy tips to make your home shine to potential buyers:

Kitchen

• The kitchen is the most important room in the house.  Make it bright and attractive.
• Remove all appliances and containers kept on your counters.  Clear counters make the kitchen appear cleaner and larger.
• Clean the burners and oven.  Clean the ventilating hood and replace the filter.
• Put up bright, new window treatments. Repair or replace worn flooring and loose tiles.

Appliances

• To rid yellowing, mix together 1/2 cup bleach, 1/2 cup baking soda and 4 cups warm water.  Apply with a sponge and let set 10 minutes.  Rinse and dry thoroughly.
• Instead of commercial waxes, shine with rubbing alcohol.
• Use club soda for quick cleanups.  It cleans and polishes at the same time.

Oven

• An inexpensive overnight oven cleaner: Set oven on “warm” for 20 minutes; then turn off.  Put a small dish of ammonia on the top shelf, a large pan of boiling water on the bottom shelf, and close the oven. Next morning, air out the oven and wash off even hard, baked-on grease with ease.

Grease-Clogged Drains

• Pour in a cup of salt and a cup of baking soda, followed by a kettle of boiling water.
• Coffee grounds are a no-no!  Put them in the trash.

Refrigerator

• A box of baking soda absorbs odors.
• A little vanilla on a paper towel or cotton ball to import a clean, sweet smell.

Sinks

• To really whiten a porcelain sink, spread paper towels in the bottom and saturate with bleach for an hour or so.
• Remove water spots from stainless steel with rubbing alcohol or with vinegar on a sponge.
• Club soda will shine up stainless steel in a jiffy (bartenders trick).

Bathrooms

• Bathrooms help sell homes.  Make sure this room looks and smells sanitized. The sink, handles, and toilet bowl should sparkle.  Remove all stains using commercial cleaners.  If you cannot get rid of the stains buy a new toilet or sink.
• Repair dripping faucets and running toilets.  If the sink or tub drains slowly, unclog it.
• Hang clean and matching towels.  Inexpensive bath room sets, which include rugs and a tank set, add charm and appeal.
• Scrub the shower curtain.  Replace it if torn or stained.
• Put shower curtain in the washing machine in warm water with 1/2 cup each of detergent and baking soda, and toss in two large bath towels.  Add 1 cup vinegar to the rinse cycle only, and hang the shower curtain immediately without spinning dry or washing out the vinegar.
• Open the shower curtain to enlarge the room.
• Replace a worn or broken toilet seat.
• Remove wet towels and washcloths.
• Check and repair caulking in the bathtubs and shower.
• Glass shower doors shine up in a hurry with white vinegar on a sponge.
• Polish metal fixtures with plain kerosene on a rag.  Smell disappears quickly; shine stays on.
• Clogged metal shower head?  Try boiling it in 1/2 cup vinegar and 1 quart water for 15 minutes.  For plastic shower heads, soak in equal parts hot vinegar and hot water.

Closets and Garage

• Straighten up the closets.  Get rid of or store excess items.  A nearly empty closet will appear much larger.
• Box and store seasonal clothing.
• Adjust and lubricate doors and hinges with paraffin or candle wax.
• Use air freshener to eliminate musty odors.
• Clean out the garage and dispose of everything you are not going to take with you.  Package everything you won’t need until you move.  Buyers often visualize the garage as the only storage area and want to see lots of room.

Lights and Windows

• Turn on all the lamps and light fixtures, even the ones in the closets and basement.
• Pull open all curtains and raise all blinds.  This makes the home appear larger and more inviting.
• At night, turn on the porch light and any other exterior lighting that’s available.
• Illumination is like a welcome sign.  Keep high-watt bulbs in all fixtures.
• Keep windows sparkling.  Clean windows make a house feel light and airy.
• Replace broken or cracked glass and thermoseals.  Mend torn screens.
• Clean all light fixtures and light bulbs.  Replace any burned-out bulbs.
• Brighten any dark rooms with white or off-white paint.
• Drapes and curtains should be clean.  Pull up shades and open all curtains to allow in more light.

Easy Cleanup for Furniture and Upholstery

• Shaving cream is a good upholstery cleaner for fresh stains and “ordinary dirt.”
• Don’t use oil on vinyls to make them shine; it can make the vinyl permanently hard.   (Body oil, by the way, has the same effect.)  Use a commercial vinyl cleaner or vinegar on a coarse, damp cloth.
• Sagging cane seats tighten up when given a hot water bath and placed in the sun to shrink-dry.
• Vaseline will remove many minor scratches from wood.  Apply a generous amount and let it set awhile.
• Fill a spray bottle with vinegar and 3 tablespoons of salt.  Spray on discolored copper, let stand, rinse off.

Slick Trickery for Floors and Carpets

• Heel marks surrender quickly to kerosene or turpentine on a rag.  Or try an ordinary pencil eraser.
• For carpet stains, blot up as much as you can FAST. (Don’t rub; this will spread the stain.)
• For fresh stains, plain club soda is amazing. Shaving cream is also good; rinse it with club soda.

The Quick Pick-Up

• Have an empty laundry basket available that you can use to quickly gather up any clutter before a showing.
• If you don’t have time to wash all the dirty dishes, put them in the dishwasher or even under the kitchen sink.
• Empty all trash cans, especially the one in the kitchen.

Pets and People

• Buyers can feel like an intruder when the owners are present during a showing.  If at all possible, run an errand or go for a walk.
• Put all pets outside.  Better yet, take them with you on your walk or drive.
• Leave the showing to the professional agent and don’t tag along.  Answer questions candidly and truthfully, but don’t offer answers to unasked questions.
• Never try to sell furniture or other personal property to a prospect before a sale is complete.  It can kill the sale.

Make Showing Easy

• Please cooperate with agents when they call for an appointment.  Sometimes it may be inconvenient for you to have the house shown, but you may never get a showing opportunity with that buyer again.
• Many times buyers are on tight schedules and can only view properties during set times.   Allow your agent to place a Key box on your property to make sure your home gets shown to every available buyer.
• We apologize in advance, but occasionally an agent will stop by unannounced and ask to show the property.  This often is your only chance with these buyers.  If possible, you should accommodate them.  Ask for a few minutes to straighten up and let them in.

The Little Details All Around the House

• If at all possible, send cats, dogs, and other pets to a friend or relative from the day the house goes on the market until the day it’s sold.  Remove all odors.  Many buyers are either allergic to, afraid of, or simply dislike animals.
• Remove all ashes from the fireplace. Lay some logs to make it look inviting.
• Water all plants and dust the leaves.  Get rid of any dying plants.
• Shampoo the carpets.  If carpets are worn or torn, spend whatever you can on soft, neutral replacement carpeting.  Many buyers do not have the funds to update after closing.
• Put a fresh coat of paint in living areas.  Stick to white or off-white.   Change the furnace filter and clean vents.
• Remove excess furniture, personal knickknacks, posters and any item attached to the ceiling or walls you plan on taking with you.  Buyers will not purchase a home unless they can visualize their possessions in the house.
• Never apologize for appearance.  It only accents or distracts.
• Throw a loaf of frozen bread dough in the oven (on low heat) a few minutes before a showing.
• Grind a lemon in the garbage disposal.
• Turn off the TV.
• Tune the radio to a light jazz or classical station and leave on low volume.
• Remove any excess furniture to make the rooms appear larger.  Clear refrigerator magnets, fronts of messages, pictures, etc.
• Make the beds, straighten the towels, and do the dishes.
• Check the front yard and remove all bikes, wagons, or other toys.  Coil any hoses.
• Remove musty odors from a trunk or from drawers by placing an open coffee can filled with kitty litter inside overnight.
• Try “dry cleaning” your dog with baking soda.  Rub well into the coat; then brush out. Goodbye, doggy odor.

Landscaping

• Landscape to enhance the features of your home, not hide them.  Cut back shrubs and bushes to the height of the bottom of the windows.  Trim any that look scraggly.
• Prune low hanging tree branches high enough to walk under.
• Rake and bag leaves as frequently as needed.
• Water and fertilize the lawn.  Repair broken sprinkler heads.  Hand water dry spots.
• Mow the lawn twice per week during the summer months.  Edge the walks and trim the hedges at least once per month.  If you do not have the proper equipment, rent it or pay to have it done.

Exterior Details

• Remove disabled autos, lawn furniture in disrepair, toys, bikes, and other items from view.  You will be moving soon, so discard or store now, if possible.
• Hoses should be coiled or placed inconspicuously when not being used.  Store lawn equipment out of sight.
• Clean and deodorize trash cans.  Keep out of sight.
• Repair, paint, or remove any fencing that is in disrepair.
• Paint the trim or even the entire house if needed.  This will probably do more for curb appeal than anything else.
• If the roof leaks, fix it.  Remove any and all evidence of leakage by whatever means possible.  (Be sure to save the receipts.)

The Front Door

• The front door gives a vital impression while the agent and buyer wait for you to answer the bell. Scrub and clean the door or repair it, if necessary.
• Thoroughly clean the door bell.  Use a toothpick, if necessary, or even consider replacing the button.  Repair the bell if not working.
• Cleanly sweep the front porch and steps and add plants or pots of seasonal flowers.
• Remove any decorative items that you plan to take with you.
• Keep cars in the garage.
• Remove grease spots from the garage floor and driveway with a commercial cleaner.

Getting the Most Bang for your Buck on Home Remodeling Projects

It's that time of year again when people begin looking at potential home improvement projects. Oftentimes these projects are approached strictly from a need perspective, and rightfully so if repairs are in order. But sometimes it's important to look at these projects from a return on investment approach.

What projects have the best rate of return on the hard earned dollars you'll spend? Well, Remodel Magazine has the answers you seek in their in their annual Cost vs. Value Report.

The report takes a look at many of the most popular home improvement projects ranging from basement remodel (72.2% cost recouped) to roofing replacement (59.5%). It also takes a look at national, regional as well as major cities and rates each project accordingly based on the averages found in each. Nationally, the project with the highest cost recouped rate is entry door replacement (102.1%) and the lowest home office remodel (45.8%).

The report is free and is easy to access via a simple registration process. So before you start that project, take a quick look and make sure you'll recoup some of those dollars!

Social Media Tips

5 Steps to Social Media Success

Social media can do a great deal for your business. Just be sure not to waste your time or efforts.

AUGUST 2010 | BY JOHN D. MAYFIELD

Consumers are piling on to online social networks in droves. According to Arbitron/Edison Research, 48 percent of Americans have a profile on a social networking site today, a figure that has doubled since 2008. Social networking has developed a strong presence in many people’s everyday lives and will not be going away in the near future.

The number of real estate pros active on social media sites corresponds with that of the general population. According to the NATIONAL ASSOCIATION OF REALTORS^® 2010 Member Profile, 51 percent of all REALTORS^® actively use social or professional Web sites. When the responses are limited to members 29 years of age and younger, that figure jumps to 79 percent.

However, when REALTORS^® who aren’t using these tools now were asked if they would use them in the future, only 12 percent indicated they would. Given the rate that potential customers and clients are signing up and logging on, that number seems low.

If you’re just getting started in social networking, are still considering whether or not to jump in, or are skeptical of its value, here are five tips to keep in mind that can help you get business from these technologies without sacrificing a great deal of time and energy.

1. Have a Game Plan

Determine how many times you will post items on your status and what meaningful information you will post. Determine if you plan to host a blog and how often you'll add new posts to your blog, or if you’ll add videos and other important information.

Initiating a game plan on how you approach social media will help keep you on the tasks involved while keeping in mind why you are ultimately using it — to constantly remind your sphere of influence that you’re an experienced real estate professional.

2. Remember: A Touch Is a Touch

One of the best prospecting techniques you have is working your sphere. When it comes to social media, you should search for people in your sphere and invite them to become part of your network. It’s also worthwhile to create a group or list labeled “Sphere” or something similar for people in this group.

Once you have finished this, send a private message with a note of friendship to the people on this list. Occasionally, you may want to send them an important real estate news item, but you may want to limit these kinds of correspondences depending on the social network you’re using. This entire process should only take five minutes or less, and it will pay big dividends over the long run.

3. Be Creative and Showcase Your Knowledge

A lot of real estate professionals believe that social media is strictly about promoting your listings and yourself, when in reality it should be about what you know and where you work. One good way to position yourself as an expert in your market is to write blogs or produce videos on interesting information about your hometown or area. Share your knowledge with people in your network, especially in your marketplace.

Also, don’t be afraid to share your passions outside of real estate. If you’re good at making quilts, let people know. Do you like to ballroom dance? Write a blog or produce a video to help others in this specialty area. People like to do business with those they share an interest with, and when you can interweave your passion with your knowledge of the real estate market, you will find new clients in your market area that you can bond with for many years to come.

4. Pre-Post All Your Updates Once a Week

There are several software applications that will allow you to post your “tweets” or status updates to be broadcast at a later date and time. By using this type of service, you can go online just once or twice a week and add all your updates about real estate trends, statistics, and more in a short five- or 10-minute time span. This will show your network of friends that you have an interest in providing good quality information, but it won’t take away important time during the day.

Instead, use your day tending to your clients and customers and not sitting in front of your monitor lost in a mass of information. I regularly plug in my social media updates for the week at www.Twaitter.com, so I don’t have to worry about that while I’m busy working on other areas of my business.

5. Access Your Entire Social Network in One Click

Rather than logging into each social network and posting several versions of the same update, you can go to one site and make one post, and multiple social networks will be updated at once. Two of these services are www.Ping.FM and www.HellotTxT.com. Both of these Web sites allow you to set up all your social media accounts, post videos or status updates at one location, and push your information out to the other social networks you’re on. You can also upload a single video to numerous portals you subscribe to at www.TubeMogul.com.

Remember: Social media can do a lot for you, but you should avoid spending countless hours using it in ways that will not profit your business. Have a plan, touch your sphere, show your expertise, and organize and pre-post your ideas. If you can do this, you’ll find social media is a cost-effective, efficient, and even fun way to connect with consumers.

Realtor.com Article

Why Use a REALTOR^®?

All real estate licensees are not the same. Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. They proudly display the REALTOR "®" logo on the business card or other marketing and sales literature. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR® again.

Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $100,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a REALTOR®.

But if you're still not convinced of the value of a REALTOR®, here are a dozen more reasons to use one:

1. Your REALTOR® can help you determine your buying power -- that is, your financial reserves plus your borrowing capacity. If you give a REALTOR® some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Most lenders -- banks and mortgage companies -- offer limited choices.

2. Your REALTOR® has many resources to assist you in your home search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.

3. Your REALTOR® can assist you in the selection process by providing objective information about each property. Agents who are REALTORS® have access to a variety of informational resources. REALTORS® can provide local community information on utilities, zoning. schools, etc. There are two things you'll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

4. Your REALTOR® can help you negotiate. There are myriad negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

5. Your REALTOR® provides due diligence during the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your REALTOR® can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your REALTOR®, title company or attorney can help you resolve issues that might cause problems at a later date.

6. Your REALTOR® can help you in understanding different financing options and in identifying qualified lenders.

7. Your REALTOR® can guide you through the closing process and make sure everything flows together smoothly.

8. When selling your home, your REALTOR® can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.

9. Your REALTOR® markets your property to other real estate agents and the public. Often, your REALTOR® can recommend repairs or cosmetic work that will significantly enhance the salability of your property. Your REALTOR® markets your property to other real estate agents and the public. In many markets across the country, over 50% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. Your REALTOR® acts as the marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses for agents, etc. The REALTOR® Code of Ethics requires REALTORS® to utilize these cooperative relationships when they benefit their clients.

10. Your REALTOR® will know when, where and how to advertise your property. There is a misconception that advertising sells real estate. The NATIONAL ASSOCIATION OF REALTORS® studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts. When a property is marketed with the help of your REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.

11. Your REALTOR® can help you objectively evaluate every buyer's proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing -- a lot of possible pitfalls. Your REALTOR® can help you write a legally binding, win-win agreement that will be more likely to make it through the process.

12. Your REALTOR® can help close the sale of your home. Between the initial sales agreement and closing (or settlement), questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. Your REALTOR® is the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).

Awesome article on Short Sales!

The basics you need to know about a short sale. Top 10 questions.

Great article from: http://www.shortsales101.com/basics.htm

Top 10 Frequently Asked Short Sale Questions

1. What is a real estate short sale

A real estate short sale is a form of agreement between the seller of a home in the beginning stages of foreclosure and their lender, allowing the home to be sold for less than the existing loan balance outstanding. The mortgagee would accept less than the loan amount in order to avoid a foreclosure proceeding. This short sale would result in a substantially discounted purchase price for the buyer of the home. The buyer would then proceed with the purchase of the home much the same as in any conventional realty transaction.

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

Depending on individual state law and regulations, a foreclosure can proceed as quickly as 35 days from the date the notice to the borrower is filed. For that reason, time is of the essence and you should allow a window of no more than 60 days to effectuate a lender approved short sale.

3. Will a lender allow a real estate short sale when the seller has some a good amount of equity?

If the home has some considerable amount of equity, the lender may choose to continue with a traditional foreclosure proceeding to regain title to the property and dispose of it at a market price. Given the current state of affairs with the real estate market, the home will most likely be over encumbered, hence the reason for the short sale in the first place. A glut of homes for sale in the market area of the home may make the lender think twice about taking title to the property.

4. What documents are necessary to proceed with a short sale?

The individual documents necessary to proceed with the short sale will depend on the lender. Typically the lender will require hardship letter detailing the circumstances behind the short sale. A signed, valid purchase and sales contract, preliminary HUD-1 settlement statement and a preliminary estimate of proceeds to the lender. There may be additional requests for more detailed information on the financial condition of the seller, ie; pay check stubs, bank statements, a personal financial statement and monthly budget assessment, amongst other things.

5. Will the seller’s credit rating be affected if they allow a short sale on their property to occur?

While it is up to the individual lender to decide what to report, what often happens is the loan will report as "paid" on their credit report. While that good news the bad news is that there will likely be a reference that says "settled for less than originally owed" or something similar. It is certainly more advantageous to have the short sale referenced than to have a foreclosure on their credit report.

6. Will a lender allow the seller to make a profit on a short sale?

By the nature of the transaction, the seller is not going to make a profit on the short sale. They may have extracted equity from a previous refinance of the home, but their current loan balance will be higher than the selling price of the home.

7. If a seller is in bankruptcy, will that affect the short sale of the property?

Absolutely, as most lender would not consider a short sale if the homeowner is in the middle of a bankruptcy proceeding. Negotiating a short sale between the parties is considered a collection activity and such a negotiation is prohibited in bankruptcy.

8. Will the bank or lender require an appraisal on the home in a short sale?

Most lenders will require that a full appraisal be submitted in the short sale package. Some may only require a BPO or brokers price opinion. The lender will need some formal assessment of the value of the home in order to make a decision as to accept or reject the short sale offer.

9. Are there tax implications in the short of real estate.

Much like the issue of credit reporting, the circumstances are individual to the lender. As a short sale represents a loss for the lender, they can report the amount lost a debt forgiveness to the seller. If a formal tax form 1099 is filed, the seller may be responsible for paying taxes on the amount of debt forgiveness.

10.Why would a lender allow a short sale to occur.

Quite simply, it may benefit all the parties involved in the transaction. The seller is relieved of the home they cannot afford. A costly foreclosure proceeding by the lender is avoided and the buyer purchases the home at an attractive price.
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