Selling an Ugly Home

Selling an Ugly Home



Let’s say that you inherited an old house in a distant location and want to put it on the market. You may not have the time, resources or energy to make it perfect and just want a quick sale.

Or, maybe you had renters at your property who did substantial damage and you don’t have the money to make necessary renovations.

Fear not. Just because the house needs work doesn’t mean you can’t sell it. Many homebuyers today are shopping for deals and want to see the potential in your home. In that case, leave brochures for new cabinets in the kitchen, color palates around the bedrooms and even create computerized images of what updates could look like.

In addition, secure bids from licensed contractors on necessary fixes and provide them to your potential buyers. People may overestimate the cost of a new roof, shower stall or drywall repair and fresh paint. Estimates will bring the home into clearer perspective.

Work with your real estate agent to make the home as presentable as possible for the least amount of money. Make a room or two inviting so you have the photos that will attract buyers to what you can call “a fixer upper.”


Of course, nothing is going to attract people more than a low price. Obviously, you will need to discount the sales price to gain an advantage over comparables in better condition.

A down-and-out house doesn’t mean you’re stuck. With small repairs, research and practical pricing, you can turn that “Ugly Betty” into a sale.

Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential company. Equal Housing Opportunity.

‘Tis the Season for Tax Breaks

‘Tis the Season for Tax Breaks With April 15 rapidly approaching many are scrambling to complete their taxes. For those who have recently bought or sold a home, there are a number of tax deductions that that may be available to them. Real estate broker’s commissions, title insurance, legal fees, advertising costs, administrative costs, and inspection fees are all considered selling costs and may be used to reduce one’s taxable capital gain by the amount of the selling costs. That could result in a big savings depending on the final sale price. Interest that is paid on a mortgage is also tax-deductible, within limits. A married couple filing jointly can deduct all their interest payments on a maximum of $1 million in mortgage debt secured by a first or second home. Buyers may also be able to deduct some of the interest they paid on a home equity loan or similar line of credit. One deduction that many buyers often overlook is points. Points or origination fees on a home loan that were paid during the purchase of a home are generally tax-deductible in full for the year in which they were paid. Refinanced mortgage points are also deductible but only over the life of the loan – not all at once. Homeowners who refinance can immediately write off the balance of the old points and begin to amortize the new. If your lender required private mortgage insurance, the PMI premiums are tax-deductible for mortgages taken out from 2007 through 2011. Making improvements to property prior to the sale or once one moves in might qualify for an interest deduction on your home-improvement loan. Qualifying capital improvements are those that increase your home’s value, prolong its life, or adapt it to new uses, such as adding a porch or installing energy-efficient windows. Many times during a sale, the seller will send the local tax collector’s office a check for real estate taxes prior to the closing. In many circumstances, however, the buyer will pay a pro-rated portion of the taxes for the year at closing. This tax deduction also gets overlooked. For those working from their new home: If a room is used exclusively for business purposes, they may be able to deduct home costs related to that portion, such as a percentage of your insurance and repair costs, and depreciation. In some instances, if you have moved because of a new job, moving costs may be deducted. These can include travel or transportation costs, expenses for lodging, and fees for storing your household goods. Every year the tax laws change and certain tax deductions become available while others phase out. If you have recently bought or sold a home, it’s probably a good idea to seek out a professional tax consultant to do your taxes as missing deductions that you can legally claim can add up to quite a bit of money. Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential company. Equal Housing Opportunity.

Downsizing can be Emotional

Consider the Emotional Side of Downsizing your Home People downsize for a variety of reasons, from the “empty nest” syndrome to convenience or hardship. Here are a few things to consider as you contemplate moving to a smaller home. “Before any move, focus on how you want to live. People don’t think enough about why they’re moving,” said Mary Jo Zeller, director at Gero Solutions, which manages moves for seniors. “Increasing numbers of downsizers these days want to exchange the worry and expense of maintaining a large property, for the luxury of low maintenance and the opportunity for more leisure time.” Emotional ties to the family home is one of the main barriers to downsizing, but equally, deciding on where to move to, and what style of property will best suit, can be just as daunting a prospect. During the downsizing process you may be surprised at how attached you have become to your possessions and how difficult it might seem to part with them. A good tip is to start getting rid of your items a few months before your move so donate, recycle, e-bay and give away some of those items you really don’t need anymore. This will make the move much easier and your smaller home less cluttered. Decorators recommend sketching floor plans for your new home to see where all your current furniture will fit. You shouldn’t wait until you move in to discover that there’s just no room for that armoire or extra stools. For those already on the top of their property ladder, they may find that reversing course and heading down is the right decision for them. Prudential Fox & Roach is an independently owned and operated broker member of BRER Affiliates, Inc. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential

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APRIL 14, 2012 10am-12pm

Prudential Fox and Roach Realtors
1600 North Bethlehem Pike Suite 100
Lower Gwynedd, PA 19002

rsvp-joannegenesio@comcast.net

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Home Sellers: A Deck May Make the Difference

Home Sellers: A Deck May Make the Difference



With spring in the air, the exterior of a home becomes even more important when putting your house on the market because buyers now will spend more time outside looking at your property and envisioning what their summer barbeques and family playtime will look like.
The addition of any amount of usable real estate to a property increases value. Customized decks and personalized outdoor living areas are a hot trend in home improvement upgrades, and a great-looking deck may entice more people to come see your home.
Building or updating an existing deck isn’t simply a great investment; it also provides opportunities to personalize your backyard and customize the look to your taste. And with many families staying home this summer to save money, why not think about creating the perfect location for entertaining?
Deck experts agree that multi-level decks are the most popular now. These are a series of decks connected by stairways or walkways, which are aesthetically pleasing and can be used for different purposes. One level can be used to catch the sun, one level can be positioned for shade and another can be set close to the house for entertaining and barbequing.
Wood decks have always been the most popular, but caring for them is tough. They will rot over time, are subject to insect infestation and require a great deal of maintenance to keep the wood from fading. Accordingly, people are embracing composite materials for their decks, which cost significantly more but will last longer with less maintenance.
For those homes that already have a deck, it’s important to make sure that it’s still in good shape and adds to the attractiveness of a property. You can change your deck’s appearance with interesting balusters to match other decorative accents on your house or in your yard and really add unique touches to make the deck a personal haven. Meanwhile, railings offer a good opportunity to pull in color and ornamental detail that complements the house.
By designing your deck with accents, lights and unique accessories, you can transform your backyard into an outdoor retreat one will never want to leave. Whether you’re catching up with friends over a grilled dinner in the evening or are curled up with a book in a lounge chair on a sunny afternoon, a deck is the perfect place to be.





Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential company. Equal Housing Opportunity.

Getting Ready to Sell? ... Freshen Up the Inside

Getting Ready to Sell? ... Freshen Up the Inside



A prospective buyer’s willingness to buy more quickly – and at a higher price – is often driven by emotion. A home that shows exceptionally well helps arouse the prospective buyer’s emotional desires for that home. First impressions count. That’s why you’ll see neat, clean homes getting snatched up while others just sit there on the market. Buyers will buy the perceived value of the property, the image and feeling that they get from experiencing the property. As it’s often been said: buyers buy on emotion. The emotions that you, the Seller, are trying to stimulate are triggered by sensory experiences. Aim for the senses - especially touch, smell, and sight. Uncluttered, clean, fresh-smelling homes sell faster and for higher prices. Try to clear your mind of any preconceived notions, then walk into your house, close the door, look around… and truly feel your house. Then consider these steps:

Organize and de-clutter! Remove clutter from countertops, desks, and garage. Remove excess furniture. Organize closets, drawers, storage areas. Throw away, sell or store excess! Rent a storage unit if necessary. Clutter makes the home appear smaller and masks the home’s good points.Freshen interior paint as needed. Again, fresh paint is the best bang for the buck. Light, neutral colors such as beige, white, or off-white have a broader appeal and can make small rooms seem larger and airier. Remove ‘tired’ or busy wallpaper. Brighten drab garage interiors, storage areas with fresh paint. Paint/stain woodwork as necessary.Make kitchen and bathrooms sparkle. Clean/oil cabinets, clean appliances/fixtures. Add fragrances. New color-coordinated towels are an excellent investment. Fresh looking kitchen and bathrooms will often make or break a sale.Clean floors and carpeting. Add carpet freshener to carpeting which is ‘tired’ or to eliminate smoking or pet odors. Make minor repairs. Tighten loose knobs, fix leaky faucets, lubricate squeaky hinges, replace filters, tighten loose banisters, repair doors and doorknobs, remove stains, and make sure your doorbell works. Make sure all lighting fixtures work. Add new bulbs with the highest wattage allowed to make your rooms seem brighter. Light, airy homes seem bigger and more inviting. It’s well worth the extra cost. Is the fireplace in good working order? Remove ashes from the fireplace and add fresh logs. Buy fresh, colorful indoor flowers or plants. They get a lot of mileage, and they will enhance your new home as well. Exterminate, one bug, dead or alive, will make a bad impression on prospective buyers. Hire a professional to sell your home, it is a process, not a single event. Getting your home ready to sell is part of that process. As you prepare to put your home on the market, make sure to pay close attention to how your home is prepared to show – it can make all the difference in the world and will help you stand out from the crowd.




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