Jan 30, 2009

Your MLS Listing: What Not To Do

In the buyer’s market of 2009, it is a shame that many MLS listings continue to fall flat. These weak listings do not capture a buyer’s attention and actually detract from a home’s appeal.

Here are some of the most common practices of what not to do with your MLS listing:

One Photo Listings with one photo are an inconvenience to a buyer and they will easily lose any potential interest they may have in a showing.

Poor Quality Photos Listings with blurry or dark photos, and photos of furniture (not the actual room) are a hassle to a buyer and they will easily lose any potential interest they may have in a showing.

Missing Features Listings may have special features that are not readily known to a buyer such as “nature view” or “mature landscaping”. These kinds of features are desirable and should be disclosed.

Blank Listings with no descriptions are quickly bypassed without a second thought. No buyer will guess at what a home has to offer.

Too Much To List Listings with the phrase “too many upgrades to list” serve no purpose. This is the equivalent of a listing with no information – you’re not telling a buyer anything.

Subjective Adjectives Listings with so many subjective adjectives (lovely, gorgeous, perfect) that the objective facts are left off (three bedrooms, pool, square footage) don’t serve the home well. Let a buyer determine what’s “perfect” for them - a buyer may view your “perfect” master bath as their first remodeling project.

ALL CAPS Listings with descriptions in all capitalized letters are hard to read. After a few seconds of attempting to read, an average buyer will move on to the next listing.

Jan 27, 2009

The Value Of Title Insurance

Consider these two scenarios:

After four months on the market, you’ve accepted a strong offer from a buyer to close in 60 days. The transaction is moving towards closing when out of the blue, your agent informs you that the title company has discovered a cloud on title and your closing will be held up until the issue is resolved.

Your family has enjoyed living in your home for over ten years. One day out of the blue, you receive a letter from an attorney representing the previous owner’s adult child claiming they inherited the home from their mother – and they want you out.

Though rare, these situations can occur to any homeowner unexpectedly. This is precisely the reason a homeowner obtains title insurance when purchasing a home.

Title insurance is an insurance policy that guarantees your home’s title is free from hidden liens and claims on ownership.

A title insurance company provides title insurance and is responsible to search public records to determine if any liens or claims on title exist.

The one-time fee for title insurance customarily is included on the HUD (closing statement) and provides title protection to you indefinitely.

Potential hidden title problems a title insurance company may uncover include:

- Tax liens
- Mechanic liens
- Errors or omissions in deeds
- Mistakes in examining records
- Forgery
- Undisclosed heirs

Jan 21, 2009

The Realtor Difference: Good Homes Priced Right Sell

A realtor will prepare a Comparative Market Analysis of your home to determine the strongest supported price to list your home at. A realtor will analyze the amenities and features of your home compared to similar active, under contract, sold and expired homes in your neighborhood and nearby area from the recent past. A realtor has current “in the trenches” experience with buyers and knows the strongest selling features that buyers want and will pay top dollar for. In order to sell your home for maximum dollars in minimum time with minimum hassle, your home needs to be priced right – that is, priced according to today’s market - not what your home was worth at its peak. In fact, overpricing your home is a sure way to deter prospective buyers – they won’t even request a showing.

Jan 15, 2009

When Your HELOC Freezes Over

From CNNMoney.com

Tens of thousands of homeowners have been shut off from their home equity line of credit (HELOC) as lenders try to stem losses from subprime mortgages.

Not all HELOCs will be frozen or downgraded, but you can be sure lenders will scrutinize every account - including yours.

Jan 9, 2009

Tools To Build Sweat Equity

From CNNMoney.com

Whatever happens to the housing market, one real-estate strategy is still recession-proof: do-it-yourself home improvements.

Building sweat equity costs a fraction of what you'd pay a contractor for the same job because you only need to buy materials and the right tools. Most weekend projects don't require specialty tools, just a few good multi-taskers.

Here are six low-cost and easy-to-use basics that can handle the toughest jobs on your to-do list.

Jan 5, 2009

Customize A Spec Kitchen

Turn a boring kitchen into a custom work of art with inspiration from these five creative remodels.

Jan 1, 2009

Remodel On The Cheap

From CNNMoney.com

Buy used – you will save a bundle and secondhand merchandise is often higher quality than you can get in a store. Here are four ways to save.