What is Staging?
Staging is when a home is furnished and decorated before it is put on the market for sale. A staged home that is well done will highlight each room, but not crowd it. The following are several questions that I will attempt to address, like: How much does it cost? How long will it be furnished for? Who pays for it? Will it yield the seller more money at the end of the sale?
Staging a home can cost any where from several hundred dollars to thousands depending on size of home, services provided and the specifics of each contract. The details of the services you expect from your stager must be outlined in the contract before you sign the dotted line. Staging companies will normally have a minimum time period (days/weeks) that a potential client should fully understand. The cost really depends on exactly how many rooms they (stager) are furnishing and for how long. The contract should stipulate several important items like exactly what time and date the furniture will be installed and removed, what would it cost if you wanted to extend or adjust the time period of your contract?, and who is responsible for the furniture while it sits in your home? It is also important to ask, when does the staging company expect to get paid? Read more
Mixing Business with Pleasure… does it actually mix?
Have you ever felt obligated to use a family member when it came to a business deal? While most of us have, has it ever left you wondering if that was the best decision? In some cases, it is an ideal circumstance. While in others it may be an uncomfortable situation that you were strong armed into. Read more
Is it a good time to Move Up?
Everyone’s question these days seems to be “Is now the right time to buy”? I have come up with a chart that helps you make the decision if now is the right time to buy!
Current Home New Home
|
Sell |
Spread (What it would cost you to move) |
Buy |
|
$100K |
$100K |
$200K |
|
(Value appreciates 10%) $110K |
$110K |
$220K |
|
(Value depreciates 10%) $ 90K |
$ 90K |
$180K |
The above chart is an example of a “move-up” buyer determining whether it is a good time to purchase an upgrade property.
Now ask yourself this question… “When does it make more sense to move up- when prices have gone up less or when they’ve gone down more?”
If you have answered when prices go down, you are the lucky winner!!!! You profit the most when the spread is less. So whether you are discouraged that you don’t have enough equity or down payment in order to move, ask yourself this question….
“If you don’t feel you can move up comfortably now, how will you be able to do so when prices go up further?”
***One last thing to ponder… When interest rates go from 6% to 7.5% the prices of homes would have to go down 14.7% in order to keep the same monthly payment.
Appraisers… what’s their real job description?
Since when did appraisers become home inspectors? Just curious as I encountered a never before sitaution today… As my property inspector was packing up from a routine property inspection, the appraiser drove up (early I may add) to what I thought at the time was to appraise the property. Read more
The Great Depression, take two?… NOT A GOOD THING…
I usually don’t partake in discussions that revolve around politics, however, after last nights debate and the passing of the “bailout” I feel obligated to do so! Read more
Buyers Beware
Have you ever purchased something from a store to later find out it was defective and feeling frustrated that you would have to return it or find out you couldn’t do to good ole “store policies”? What if you purchased a house and later found out there was something wrong? Sorry folks, no returns on those a couple of months down the road! Read more
Home Sellers Everywhere…
Home sellers everywhere contemplate whether now is the time to “move up” the real estate ladder and upgrade. Some think they can’t afford to move up because they have lost equity in their current home since the market has taken a turn. When in fact they haven’t lost anything in all actuality. If it wasn’t time for you to sell your home when you had that supposed “equity” well then you never had it at all. If you wait to “move up” the cost of your new home will cost more. You want to upgrade when prices are down so your new mortgage is more affordable and while interest rates are still at hystorical lows. Sellers put your buyers hat on… think like a buyer and not like a seller, in the end you’ll be happy you did!
Calling all Potential Home Buyers…
“Obstacles are those frightful things you see when you take your eyes off the goal.” ~Henry Ford
Don’t let the turmoil of the subprime crisis get in the way of your dream of becoming a homeowner. With all the negativity buzzing around, everyone seems to be missing out on the opportunities out there. It’s time to get educated and surround yourself with a solid, knowlegeable team that can assist you in making informed decisions when purchasing Real Estate. Whether you are a first time home buyer or getting ready to upgrade, there are many loan products out there that can help you get the home of your dreams. Don’t let obstacles throw you off track. Ask questions and educate yourself on all of the loan products out there helping people who have little money down or not so good credit. Remember a closed mouth doesn’t get fed. If you keep your eye on the prize you will reap the benefits down the road. Check out these websites to learn about some loan programs that can assist you in purchasing a home. http://www.hud.gov/buying/loans.cfm or http://www.heartofsmc.org/
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