Smart Home Gadgets to Increase Home’s Value

Although most people relish the arrival of the holiday season, real estate activity tends to grow in sluggish around this happy time of year. Many prospective buyers simply have other priorities on their minds. You’ll want to make an extra effort to attract attention to the most appealing aspects of your property now:

One: De-Clutter And Simplify

When you offer your home for sale, encourage potential buyers to envision themselves residing there. Many sales experts recommend removing as much of your personal property from the premises as possible to encourage this mindset. Naturally, you treasure your belongings. Yet to casual visitors your grandfather’s worn old chair or your son’s favorite pair of gym sneakers scream “clutter”.

Consider stripping down your household furnishings to the bare minimum. If necessary, rent a storage unit as a temporary home for any unnecessary household possessions. By simplifying your interior design, you’ll inspire prospective buyers to see themselves filling your premises with their own prized possessions!

Two: Create Exterior Curb Appeal

During the holiday season, it remains especially important to dispel any sense of mid-winter gloom. You’ll want to ensure your home appears inviting from the curb. No one enjoys taking time to tour a residence situated in the midst of a cold, dormant terrain- especially during the convivial holiday season.

Fortunately, several strategies offer assistance. To “spruce up” your grounds (pun intended), place potted evergreens near the front door or along the entrance; they’ll display vibrant green throughout the year. You might also consider using colored mulch in the garden to add rich, decorative earth tones to the yard. Consider hanging a festive wreath on the front door. Most importantly, ensure your home’s exterior lights function correctly; by late afternoon, visitors sometimes require extra illumination at this time of year.

Three: Use Aroma Power

The ability to use powerful scents in your home also assists you during the holiday season. Studies show the sweet aroma of cinnamon rolls appeals to most people. Bake some in the oven before a showing to infuse your kitchen with an alluring scent.

Pine air fresheners may also prove welcome now. Remember, some visitors particularly notice pet odors. You may wish to obtain professional carpet cleaning to remove these lingering scents from upholstery.

Four: Promote Your Home Widely

The holiday season enables you to promote your home widely to your network of friends and neighbors. At social gatherings, mention you’ve placed your home for sale. Local people often know interested possible buyers.

It remains important not to monopolize holiday gatherings with your home marketing news. Yet you should share this information. Your friends may wish to help you by contributing their own friendly word-of-mouth advertising.

Five: Create a Festive Atmosphere at Your Open Houses

Make your residence appealing by creating a festive atmosphere during holiday open houses. Even if you don’t want to set up a fully decorated natural tree, you might consider locating small white artificial Christmas trees in several rooms to create a festive décor. (Just keep the decorations simple and uncluttered.)

Offering small candies or warm apple cider to your visitors confers a party-like atmosphere during open house tours. Make sure you ask everyone to sign a guest book. You can follow up with potential buyers later to see if they have considered purchasing your home.

Many Rewards

By continuing to promote the sale of your property during the holiday season, you may obtain a welcome outcome. Even if a closing does not occur until after the celebrations end, your efforts to sell your home won’t have occurred in vain. Selling real estate sometimes requires time and patience. Your prospects may discuss your property in depth during family gatherings and bring you an offer once most businesses resume their normal operations!

New Home Trends We Hope to See in 2017

Home trends change from year to year, but overall, home ownership is a beautiful thing. You have a place to call your own while building up equity in your investment. And there’s also something about owning your home yourself rather than renting it from someone else. Investing in your home most likely will bring a great return, so the following are a few tips from the pros as you look at what your home needs next.

  1. Getting back to nature

The down-to-earth vibe is here to stay for a while. Designers and homeowners are loving the clean, Nordic design look cozied up with natural pine flooring and furnishings, soft textures like shearling, hides and fur with the occasional pop of color. Dark shades of green (as in, deep jungle, forest and olive tones) and nuances of ocean hues (blue-green, lime, jade, and cobalt)are on the horizon as some of the top color trends for the coming year. Of course, strategically placed indoor plants (trend alert: olive plants and trees!) lend a touch of green to enliven a space.

  1. Dedicated, technology-free space in floor plans

As open concept design and technology evolve, homeowners are increasingly looking for a small place to escape to where technology is absent. A bedroom nook, library or entry alcove along with warm, enveloping furnishings provides the perfect retreat from the barrage of screen information most homeowners face daily. Early in the design process is the best time to nail down exactly where and how to carve out a peaceful sanctuary within your home.

  1. Natural Textures

For furniture design, cane, rattan and abaca have been reinvented with a modern flair. Cork, a fast-growing and renewable resource, is emerging as a strong sound buffer for the pervasive open floor plan. Think a side or coffee table, stool or even an entire wall in a home office. Cork’s warmth and renewability make it a top choice for 2017 homeowners. Terra cotta tiles are also on the upswing with a new matte finish that stays away from the rustic feel of previous years. Look for terra cotta to influence fireplace surround design and bathroom design.

  1. Art-inspired wallpaper

After years of removing wallpaper, homeowners and designers are now considering its many benefits. In addition to many up-and-coming designs in today’s marketplace, artists can now turn their work into wallpaper murals by enlarging their art to a grand scale. Area Environments is one such studio that has seen a rise in demand for art-inspired wallpaper and creates impressive wallscapes.

  1. Black as a staple kitchen design element

White as a preferred design element is slowly being upstaged by its direct opposite. Black cabinets, countertops, appliances and more are coming into their own as designers seek a warmer, sleeker silhouette. As the perfect foil for metals, plants and colorful food, black seems to be coming into its own. If homeowners aren’t sure about a full-on black kitchen, dark gray and strategically designed black and white layouts are growing in popularity worldwide.

  1. Fair realtor fees

Too often realtors are given their set fees automatically without any direct correlation to the quality of service they have provided. With housing prices possibly leveling off in late 2017, homeowners who are considering selling need to get top dollar without costly realtor fees. A popular option is a flat fee MLS listing service. Basically, this is a real estate broker offering to list the property for a flat fee rather than a percentage of the sale price. There are some additional details to consider before deciding if this option is the right one for you, but typically a successful property sale in this scenario results in a seller saving half of the traditional commission and retaining the right to sell on his or her own.

Your home is typically one of your biggest investment over your lifetime. Make it a great space to retreat to, play in and even sell when the time is right.

 

Short Sale: California’s Transition Assistance Program

Distressed California Homeowners May Qualify for California’s Keep Your Home California Transition Assistance Program (TAP)

If your financially distressed California clients can no longer afford their homes and are pursuing a short sale or a deed in lieu of foreclosure, they may be eligible for financial help with their relocation to alternative housing.

The funds come from the Transition Assistance Program (TAP), part of the Keep Your Home California Program.

The state of California is providing up to $5,000 in transition assistance to qualified homeowners who can no longer afford to stay in their homes.  You can help by advising your distressed clients that they must:

  • Apply for the funds through their state’s website or by calling 1.888.954.5337.
  • Maintain their property until their house is sold or returned to the lender via a negotiated deed in lieu of foreclosure.

For qualified homeowners, these state funds may be used in addition to any other transition assistance that the homeowner may receive by participating in the Federal Home Affordable Foreclosure Alternatives (HAFA) program or in any other pre-offer short sale program.

To learn more about the Transition Assistance Program’s guidelines, and how your clients may qualify, please visit that program’s website at http://keepyourhomecalifornia.org.  You can also direct your clients to call 1.888.954.5337 and identify themselves as Bank of America customers

Waiting Periods Have Changed To Qualify For A New Mortgage

The Federal Housing Administration is making it easier for once-struggling homeowners to qualify for a mortgage backed by the agency.

For borrowers who meet certain requirements, the FHA is trimming to one year the amount of time that homebuyers must wait after a bankruptcy, foreclosure or short sale before they may qualify for a FHA-backed mortgage.

The waiting period had been two years after the completion of a bankruptcy and three years after a foreclosure or a short sale.

But only certain consumers who’ve been in those circumstances will be able to meet the criteria attached to the eased restrictions. Borrowers must be able to show their household income fell by 20 percent or more for at least six months and was  tied to unemployment or another event beyond their control. They also must prove they have had at least one hour of approved housing counseling and, among other things, have had 12 months of on-time housing payments.

“FHA recognizes the hardships faced by these borrowers, and realizes that their credit histories may not fully reflect their true ability or propensity to repay a mortgage,” said FHA Commissioner Carol Galante, in a letter to mortgagees announcing the changes.

FHA-backed mortgages are a popular option for first-time buyers and for consumers with lower credit scores who might not otherwise qualify for a loan backed by Fannie Mae or Freddie Mac. However, the agency has recently increased the fees tied to FHA-backed loans.

 

 

Short Sale Real Estate Agents – A Tall Order

The state of today's housing market leaves us all with something to be desired… but what we crave most is a GOOD DEAL. Whether you are a current homeowner, a former homeowner or a future homeowner; knowing what a short sale is and how you can make it work for you can help you save and make tons of money!

Now, if you're a homeowner facing foreclosure, this may be a great way for you to save yourself from the pain and drama of going through a foreclosure. If you're a buyer – you're in luck! Buying a short sale may save you tens of thousands of dollars on your dream home! If you're a current homeowner, not facing foreclosure, buying a short sale may just be that second home (and extra income) you can use to help you retire sooner!

To get started, you will need an agent. But not just ANY agent will do. You will need a specialist. Not just any agent can be a short sale specialist, although many will call themselves just that. You need an agent who is an EXPERT negotiator to deal with a short sale.

First, let's explain what exactly, this type of transaction is. Basically imagine a homeowner owes $500,000 on his home but can no longer make the payments and foreclosure is around the corner. You, as a buyer, can make an offer to the Lender that owns the bank for $400,000 and if you get approved, you've save the homeowner from foreclosure and pocketed a nice $100,000 savings! Extending yourself to distressed homeowners is a great way to be most successful at securing an approval. We have found that homeowners who are more than three payments behind on their mortgages are generally more amenable to such a transaction (and so are their lenders!).

Your agent will be KEY in getting an approval from the bank for you, which is why you must pick the right one! The agent handles negotiations with the bank and make sure that you are truly getting your money's worth.

For more information on how to find the best agent for you, click on the link below!

Mitra Karimi, President
Crestico Realty
http://www.crestico.com