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If you are thinking of selling your home you might be interested to know that the top 3 things the majority of homeowners do prior to putting their house on the market involve painting, replacing flooring and updating light fixtures. This video also includes some interesting tips on staging your home for sale. Click below to check it out.

This Month in Real Estate - September 2011

Improving your credit can be done

If you are thinking of buying a home, your credit score can be a help or a hindrance. Knowing your credit score is important and getting pre-qualified for a mortgage is an important early step in the home buying process. The range of credit scores is from 300 to 850 and the scales have moved up as they relate to loan qualification. Now, 760 or higher is excellent, 725 to 759 is very good, 660 to 724 is good and all of these ranges will probably be needed to qualify for a mortgage. Between 560 and 659, there may still be lenders willing to lend to you, but this range of scores is considered to be not good. Below 560, is considered to be bad and with scores in this range, most lenders consider a loan to be too high of a risk. Talk to a mortgage loan officer for specific information related to your situation.
How do you improve your score? Keep balances low on credit card and other revolving credit, pay down outstanding debt, pay off debt rather than moving it around, don't open too many new accounts, and don't close unused credit cards expecting a quick rise in your score.

Time is Running Out!!

November 30th is fast approaching and is the deadline for the First Time Homebuyer Tax Credit of up to $8000. There is still time to take advantage of this opportunity if you do not currently own a home and have not owned one in the last three years. There are income limits but the large majority of first time buyers do qualify for the full amount. There is talk of an extension or for some new program to replace this one, but there is no guarantee that this will happen. In fact, there have been statements made that the Obama adminstration is not looking for any more stimulus like this. So, to be sure you benefit from this opportunity, you must act now! If you need help, or more information, please contact me.

Great New offering - Free Job Loss Mortgage Payment Protection

Real Living has introduced a new offering available to Buyers using Real Living agents, like myself, who get their new mortgage through Real Living Mortgage. There is an added benefit for buying a Real Living listing - an extra year of coverage or 24 months total. The intial coverage for using a Real Living agent and geting a Real Living mortgage will provide protection for up to a year and pay 6 months of mortgage payments up to $1500 if the buyer loses their job involuntarily. Real Living mortgage is an affiliate of Wells Fargo. This program can also be a benefit to Sellers listing with me as their property becomes eligible and will be attractive to Buyers wanting this protection. There is much more detailed information available on this program, so contact me and I will provide it.

The Best Homes Sell Fast

In today's market, many people think that it will take months to sell their property. I can tell you that many of the best ones sell very quickly, often within a few days of going on the market. If the home is in a range first time buyers can afford, is well maintained and decorated to appeal to many of these typically younger buyers - it can sell fast. The type of decor that seems to get my young buyers attention is the "Pottery Barn" style and colors. It must be marketed on the internet with as many pictures as possible, as that is how it will be seen by the most buyers in the least amount of time. Many saavy buyers and their agents have searches set up to alert them as soon as a property meeting their specifications comes on the market. This is why the pictures are so important - they will judge immediately whether it is a house they want to see in person. The buyers must be preapproved and ready to act when they find the right one, as any delay can result in losing the house to someone else. This may sound like what happens in a seller's market, instead of in today's well publicized buyers market but in the last month, I have personnally been involved in three multiple offer situations, all within the first days the houses were listed for sale.

Quality of schools impact property values

Today is election day and with all of the school levy and bond issues on the ballot in and around Columbus, I thought it would be a good topic to discuss. Real estate values are impacted by many things, not the least of which is the quality of the school system the property in which the property is located. When families with children purchase a home, they want to insure a good education with a full range of activities will be available. The higher the price range of the homes, the higher the expectations. It is important to keep this in mind as you go to vote. If your school system has to make major cuts because the voters reject operating levies, the houses in your neighborhood may not sell as well which will put downward pressure on prices and property values will decline. It might be worth paying those extra taxes during the year to help protect the value of the homes in your area. Worth considering....