Top 10 Tips for Staging a Home
April 15, 2010 -- Realty Times Feature Article by Broderick Perkins
Provided your home-for-sale has the curb appeal to get potential buyers inside, keeping them inside for a further look requires a staging strategy that sticks the deal.
HGTV's FrontDoor.com offers what it considers the Top 10 tips that can turn a languishing listing to a multiple offer attraction.
• Reclaim the yard. First impressions rule. Spruce up curb appeal by maintaining a clean yard, adding plants for a splash of color and applying a fresh coat of paint to the front door.
• Let the foyer flourish. The home portal sets the tone for the entire home. Make the space up-to-date, well-maintained and eye catching -- top to bottom.
• Back off beige. Don't let neutral colored walls dominate a room. Splashes of color liven up boring spaces. Throw pillows, artwork and fresh flowers add pops of color and personality.
• Cure kitchen craziness. Consistency pleases. All countertops and cabinets should match. New hardware, a new backsplash and a thorough cleaning can transform a bleak kitchen into one with smiles.
• Denude the dining room. De-cluttering and depersonalizing is the first rule of home staging. Homebuyers can have trouble envisioning themselves living in a home that's full of the seller's personal items.
• Avoid focal point faux-pas. Highlight the great features in a home by positioning furniture to highlight them. Windows, fireplaces and other architectural details will be noticed by a buyer if they are emphasized in the home correctly.
• Perk up the patio. The outdoor space is an extension of the home. Capture a higher selling price by cleaning and adding style to any outdoor space with furniture, lighting and accessories.
• Master the master suite. The best approach to staging is often working with existing accessories. Using what is already in the room and repositioning the furniture will highlight the room's best features.
• Cure bathroom blues. Older vanities and dreadful wallpaper will make any bathroom feel outdated. Apply a fresh coat of neutral-hued paint and new hardware to modernize and brighten.
• Repurpose extra rooms. The value of a space decreases when homebuyers see a room without direction (think part office, part playroom, part home gym). Though almost every homeowner is guilty of having a "junk room," take sure to stage each room with a clear purpose before putting the home on the market.
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Showing posts with label new tax credit. Show all posts
Showing posts with label new tax credit. Show all posts
Friday, April 16, 2010
Sunday, February 7, 2010
Friday, January 8, 2010
Home Inspections
Home Inspection- Why do You Need it When you Buy a House
You plan to have your house go through a home inspection process; you will definitely know some issues that might need your immediate attention. You want to know if you will hire a plumber or electrician to get rid of those problems. Your ceiling, chimney, roof and other parts must also be inspected to avoid having serious problems in the future. Primarily, you want your home to go through home inspection process so that you can assess the actual state of the house and some other reasons that you can think of.
Home inspection procedure will let assess if you are making the right decision in buying the house. If the home inspector begins to inspect other areas in the house, sees a lot of defects, you can ask for a price adjustment. You really don’t have to pay for skyrocketing prices during the start of your home purchase procedure. Alternatively, if he finds minor damages, then you can be secured of choosing such property that will last for a long time.
After you have bought the house, it is also imperative if you have it go through the process again to identify which defects need to be done immediately. Based on the form provided by the home inspector, you can find those damages that will require your fast response to the problem. These repairs will not require you to do all at the same time. You can just choose those that need to be done as soon as possible.
A home inspection after closing the deal will let you know that you are not adding more value to the house without undergoing the proper documentation. It will just show you that you have the initiative to fix and improve the house. When you dispose your house, you can ask for a better price than the original amount that you have paid. Potential home buyers can be assured in buying your property if this will be the case.
Letting your home go through the inspection process, before or after the transaction is a smart move. It is a sort of protection from possible problems that will go along your way which can be more expensive in the future. It can aid you to assess if the property that you like is a worthwhile investment. It can also be a fruit of your labor.
For security reasons, get all the important papers that are provided by the home inspector. They can be useful in the future. You will find the importance of home inspection procedure once you have started to live in the house. Thus, do not ignore the importance of home inspection in your home buying process.
articlealley
You plan to have your house go through a home inspection process; you will definitely know some issues that might need your immediate attention. You want to know if you will hire a plumber or electrician to get rid of those problems. Your ceiling, chimney, roof and other parts must also be inspected to avoid having serious problems in the future. Primarily, you want your home to go through home inspection process so that you can assess the actual state of the house and some other reasons that you can think of.
Home inspection procedure will let assess if you are making the right decision in buying the house. If the home inspector begins to inspect other areas in the house, sees a lot of defects, you can ask for a price adjustment. You really don’t have to pay for skyrocketing prices during the start of your home purchase procedure. Alternatively, if he finds minor damages, then you can be secured of choosing such property that will last for a long time.
After you have bought the house, it is also imperative if you have it go through the process again to identify which defects need to be done immediately. Based on the form provided by the home inspector, you can find those damages that will require your fast response to the problem. These repairs will not require you to do all at the same time. You can just choose those that need to be done as soon as possible.
A home inspection after closing the deal will let you know that you are not adding more value to the house without undergoing the proper documentation. It will just show you that you have the initiative to fix and improve the house. When you dispose your house, you can ask for a better price than the original amount that you have paid. Potential home buyers can be assured in buying your property if this will be the case.
Letting your home go through the inspection process, before or after the transaction is a smart move. It is a sort of protection from possible problems that will go along your way which can be more expensive in the future. It can aid you to assess if the property that you like is a worthwhile investment. It can also be a fruit of your labor.
For security reasons, get all the important papers that are provided by the home inspector. They can be useful in the future. You will find the importance of home inspection procedure once you have started to live in the house. Thus, do not ignore the importance of home inspection in your home buying process.
articlealley
Sunday, December 13, 2009
Tuesday, December 1, 2009
Owning a Home Has Its Benefits
By Joanne Genesio
Prudential Fox & Roach
Opportunity is knocking for those considering homeownership for the first time. Historically low interest rates, lower home prices in most markets and the first-time homebuyer tax credit – part of the American Recovery and Reinvestment Act of 2009 – brought first-timers to the market in droves throughout the year.
In fact, these consumers represented about half of home sales logged during 2009, according to the National Association of REALTORS®, a significant increase from historic levels. And the favorable conditions that prompted many of these first-time buyers are likely to continue. President Obama in early November signed into law a five-month extension of the first-time homebuyer tax credit of up to $8,000, as well as a new tax credit of up to $6,500 for existing homeowners who want to purchase a home to be their primary residence (see your real estate professional and tax advisor for details). Both credits will be available through April 30, 2010.
Today’s opportunities aside, here are eight time-honored reasons why those considering homeownership for the first time should make their move.
1. Pride of Ownership Owning your own home adds to your own sense of self-esteem and personal pride. The satisfaction that comes from feeling connected to the land you occupy and the home in which you live is ages-old.
2. Security of Tenancy
With homeownership comes stability. When renting, you never know when you may have to move because of new ownership, rent increases or other changes. As a homeowner, you decide when and if you want to move.
3. Privacy
While there are usually some limits on the access landlords have to property, almost all landlords can access your property for necessary inspections and maintenance. For many renters, this lack of privacy is a significant discomfort. Homeowners on the other hand generally have much stronger property rights and experience an increase in perceived and actual privacy.
4. Decorating
Homeowners are free to decorate, remodel and accessorize a home any way they want. Not only do you have the right to make improvements, but the value of those improvements becomes yours as well. Having your living space and exteriors just the way you want them can significantly increase your satisfaction with your living environment.
5. Financial Predictability
When you buy a home with a fixed-rate mortgage, you have more predictability over future housing costs. Because your interest rate never changes, the amount of your payment never changes. Financial planning and credit are more easily managed with a fixed-rate mortgage compared to renting.
6. Building Equity
When you own your own home, you pay rent to yourself instead of a landlord. Most homeowners pay for their purchase by obtaining a mortgage. As you pay off that mortgage, your equity builds and you gain an increasingly larger share in a valuable asset. Over time, that asset can work for you in many ways, such as home equity lines of credit. And of course, a home is a wonderful asset to pass along in an estate.
7. Investment Appreciation
There are certainly no guarantees of property value appreciation. In the long-term, however, real estate valuations almost always increase. This means that when you decide to sell your home, its value may be significantly higher than when you purchased it. The difference in value is called appreciation. You can reinvest that appreciation in other real estate or you may wish to downsize and keep the value of that appreciation for retirement or other purposes.
8. Tax Benefits
In the United States, the cost of home mortgage interest and property taxes are usually tax-deductible. Depending on your circumstances, thousands of dollars in taxes can be saved each year. These tax savings are not limited to federal taxes either. Many states and localities either base their tax system on the federal system or offer similar incentives to homeownership. Some additional benefits are designed specifically for first-time homebuyers. (See your tax advisor for additional information.)
If you still have doubts, contact a real estate professional in your community. He or she can answer questions you may have about homeownership and explain the buying process to you.
Joanne Genesio can be reached at (215) 641-2413. Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.
Sunday, November 8, 2009
Congress Extended & Expanded Homebuyer Credit
Congress has extended and expanded the current homebuyer tax credit. The new credit will include some current homeowners as well as new homebuyers and will be extended until April 30, 2010. Contact Joanne for more details today!
Who Qualifies for the Extended Credit?
* First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
* Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
Which Properties Are Eligible?
The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Is Available?
The maximum allowable credit for first-time home buyers is $8,000.
The maximum allowable credit for current homeowners is $6,500.
How is a Buyer's Credit Amount Determined?
Each home buyer’s tax credit is determined by tow additional factors:
1. The price of the home.
2. The buyer's income.
Price
Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.
Buyer Income
Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.
These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see 2009 First-Time Home Buyer Tax Credit.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.
The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.
Can a Buyer Still Qualify If He/She Closes After April 30, 2010?
Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.
Above information from of the NAR website. Visit http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit for more information.
Who Qualifies for the Extended Credit?
* First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
* Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
Which Properties Are Eligible?
The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Is Available?
The maximum allowable credit for first-time home buyers is $8,000.
The maximum allowable credit for current homeowners is $6,500.
How is a Buyer's Credit Amount Determined?
Each home buyer’s tax credit is determined by tow additional factors:
1. The price of the home.
2. The buyer's income.
Price
Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.
Buyer Income
Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.
These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see 2009 First-Time Home Buyer Tax Credit.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.
The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.
Can a Buyer Still Qualify If He/She Closes After April 30, 2010?
Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.
Above information from of the NAR website. Visit http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit for more information.
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