We have received questions from many concerned sellers on what is required of them when preparing their home for prospective buyers. Due to the current economy we are seeing a large increase in the number of short sale homes available for sale. Sellers in a short sale situation are concerned about the costs to prepare their home for sale so that it doesn’t sit on the market for a long time. They also ask what needs to be done in order to fix their home up for sale for the least amount of money.
Here are a few inexpensive tips that will help you stage and sell your home more quickly:
- Wipe down all of the walls and outlets of dirty fingerprints
- Shampoo Carpeting
- Wash the Windows and Screens
- Vacuum and Dust often
- Remove all books from bookcases
- Pack up the knickknacks
- Clean off everything on kitchen counters
- Put items used daily in a small box that can be stored away when not in use
- Re-Organize Closets and Pantry
- Make Minor Repairs – Touch up any holes, scratches or damage to the walls and if you have touch up paint laying around, touch up these areas
- Keep Lawns Mown and Watered
- Trim Shrubs & Plant Colorful Flowers
- Air out House of Musty or Pet Odors
- De-Personalize – Pack up personal photos and heirlooms. Buyers can’t see past personal artifacts and you want them to see the home.
- De-Clutter – If you don’t need it, sell it, donate it or throw it away
- Get a head start on packing, you will eventually need to do it anyway
With the Sacramento Real Estate market full of Short Sale Properties for Sale it is taking longer to close on the purchase of your new home. Due to the vast number of short sale properties available, the banks are starting to back up again on the approval of short sale properties.
If you are unwilling to wait a minimum of 60-90 days for an approval of your offer then a short sale is NOT for you. With the decrease of inventory available for sale in the Sacramento area, we are seeing an increase of multiple offers on our listings for sale. We are also seeing quite a few buyers who are unwilling to wait for short sale approval. This is the main reason we take BACKUP offers on our listings and ask that our buyers be held in backup position. We have seen countless buyers who are in 1st, 2nd and even 3rd backup position get their home. Patience is the name of the game in the short sale process.
If you are making an offer on a Short Sale Property, be prepared for a lengthy process. Updates are sometimes hard to come by, but working with a diligent agent who is well versed in Short Sales will help make the process quite a bit smoother and sometimes quite a bit faster.
The Obama Administration said that through the existing Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets, the US Treasury will make $2 billion of additional assistance available to housing finance agencies in 17 states to implement local programs for unemployed homeowners struggling to make their mortgage payments. Yesterday the US Treasury Dept added $476.2 million to a $64 million state program. California received the largest share of the $2 billion awarded.
California Housing Finance Agency “CalHFA” will be the administrator of this program as the state’s affordable housing bank. In the capital region, unemployment has soared to 12.4 percent and the State of California has more than 42,000 laid off homeowners.
Beginning on November 1, 2010, the government will help those QUALIFIED individuals help make their mortgage payments (up to $1,500 month) while they look for another job. They aim to help 19,000 make a few months of mortgage payments between November and next July and 23,000 will receive help in the next two years.
Qualifications for this program:
- Homeowners must be out of work
- Eligible for unemployment benefits
- Live in the home tied to the problem
- They must be FEWER than 90 days behind on mortgage
- Meet LOW & MODERATE income guidelines (generally less than $70,000 for couples in El Dorado, Sacramento & Placer counties
- EXCEPTION: Loan must be purchase money mortgage and NOT a refinance
To find out additional information at the KEEP YOUR HOME website at http://www.keepyourhomecalifornia.com/ or call (916) 373-2585.
With utility costs on the increase, homeowners and businesses are making the move towards solar energy. We know that solar energy is a good thing, but we don’t always know why.
Advantages
- Government financial incentives available
- No fuel required
- Savings on your utilities are noticed immediately and for many years to come
- Energy from the sun is virtually free
- Solar energy is clean, sustainable and renewable which helps protect our environment
- Solar energy doesn’t release carbon dioxide, nitrogen oxide, sulphur dioxide or mercury into the air like most traditional forms of electrical generation does
- Contributes to the decrease of harmful greenhouse gas emissions
- Solar energy is generated where it is needed and can be utilized to offset utility-supplied energy consumption
- Continues to supply energy to your home in the event of a power outage
- Virtually maintenance free and will last for decades
- No additional recurring costs after installation
- If additional energy is required, you can add additional panels
Disadvantages
- Initial upfront costs to install
- Solar panels require a large area for installation to achieve a good level of efficiency
- Efficiency of the system relies on the location of the sun; however this problem can be overcome with the installation of certain components
- Production of energy is effected by the presence of clouds
- No energy will be produced during nighttime although a battery backup system and/or net metering will solve this problem
- Pollution can be a disadvantage as it can degrade the efficiency of photovoltaic cells
- Appearance
As you can see, the advantages outweigh the disadvantages for installing solar energy and with all of the government incentives now may be the time for you to consider solar energy.
Check back for the next blog on Government incentives available for Solar Energy products.
Are you still on the fence trying to decide whether to keep on renting or take the leap into home ownership? You may never again experience these low home prices combined with the lowest interest rates ever again. Check out this handy calculator to help you see the advantages of home ownership. (CLICK HERE)
If you are still unsure, you should contact a REALTOR to discuss the advantages of purchasing a home and find out how much of a loan you can qualify for.
Don’t be left sitting on the fence saying should’ve…..would’ve…..could’ve Act now and contact your Real Estate specialist.
In the past 32 years working in the real estate industry, I have not experienced a 4-1/2 % interest rate on a 30-year fixed rate loan. It is time to give a lot of thought to purchasing a home in this market.
Are you concerned that home values may decline?
Sure, it is possible but will you ever see 4-1/2% again? That equates to $450 for every $100,000 in the purchase price of your home. Can you rent for that monthly payment? I doubt it. Lets also not forget the tax benefits of owning your own home and the freedom of making your house a home for you and family.
We have received questions from many concerned sellers on what is required of them when preparing their home for prospective buyers. Due to the current economy we are seeing a large increase in the number of short sale homes available for sale. Sellers in a short sale situation are concerned about the costs to prepare their home for sale so that it doesn’t sit on the market for a long time. They also ask what needs to be done in order to fix their home up for sale for the least amount of money.
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