Corvallis OR Real Estate and Community » real estate information

Selling a Home in A Buyer’s Market

Debbie — Thu, 03 Jun 2010 07:05:58 +0000

It is no secret that it is a buyer’s market out there, great news for buyers, not so great for sellers. Sellers are no longer in a position to dictate the rules of the game and have to be careful how they respond and counter to offers, due to the fact that if a buyer doesn’t get his way he might just move on to the next seller, and there are a lot of sellers out there.

There are a few difficult things about being a seller today. A seller doesn’t know how long it will take to sell his home and when he gets a contract he can’t guarantee whether another one will come or not. What this means is that if a seller has to sell his home then he has to be wary of scaring the buyer away.

The inspection is one aspect of a contract where a seller can lose his shirt. If trying to sell your home it is a wise idea to have your home inspected before listing your home. This way you can make the necessary improvements and will avoid being surprised by unexpected requests. Because sellers are not in a position to capitalize on their real estate investment it is more important than ever to be on top of things, in order to retain as much value as possible.

An experienced Realtor is incredibly helpful in maneuvering a tricky real estate market, enabling a seller to evaluate his home, price it appropriately and sell it in a reasonable amount of time.

Contact me today to walk you through the steps of pricing your home in today’s market.

Buying a New Home in Corvallis? How Much Money Should Be Put Down?

Debbie — Sun, 21 Mar 2010 00:58:32 +0000

Buying a new home is a big step, and an expensive one at that. After qualifying for a loan, locating a home and going under contract there are many questions to be answered regarding financing your new home. One such question is how much money should be put down. If you can afford to put down more than 20% should you?

When purchasing a new home it can be beneficial to put down as little money as possible. Having cash left over in your bank account can mean extra money for home improvements. Less money down enables homeowners to maximize the tax benefits that come along with home ownership. Mortgage interest and property taxes are deductible from a person’s state and federal income taxes.

On the flip side, paying more up front can save quite a lot of money over time by reducing the initial debt and therefore saving on interest payments. Evaluating what makes more sense in a particular situation is a smart way to go. Either way you will save, money on taxes or money on interest. Having the extra money to ponder this dilemma is a good position to be in.

Contact me today to discuss the options available for purchasing that new home!

Selling Your Home? Get in Spring Cleaning Mode

Debbie — Sat, 13 Mar 2010 00:22:49 +0000

We are rapidly approaching Spring and if you are selling your home or thinking about selling your home, you might want to get into the Spring cleaning mode. There is no doubt about it, across the board clean homes sell better than messy or dirty homes do. It is an unwritten, yet openly discussed, rule in real estate.

The main areas to focus on when cleaning, or examining your already cleaned home, are windows, walls, baseboards, bathrooms, closets and cabinets.

Windows should be clear inside and out. Large picture windows should offer a clear, smudge-free view.
Walls should be clean, free of holes and have a fresh coat of paint if needed.
Baseboards should be free of dust and clean as well.
Bathrooms should sparkle. Tile and grout should be clean, any cracked tiles should be replaced. Toilets, tubs and showers should be stain-free.
Closets and cabinets should be cleared of clutter, organized and neat. If there is a door or drawer the chances are good that a prospective buyer will open it.

The important thing to remember is that you never get a second chance to make a first impression. The better condition your home is in and the cleaner it appears the more likely it is to make a good impression.

Click here to view an article from Realty Times about selling a clean house.

Foreclosure Figures Show Improvement

Debbie — Thu, 25 Feb 2010 23:37:14 +0000

The feeling is that foreclosures are subsiding. The incredible increase in foreclosure activity that hit the United States hard over the past couple of years was a huge catalyst for falling home prices, as well as a staggering hit to the real estate market as a whole. The decrease in foreclosures for the end of 2009 that has been reported is good news for all. As foreclosures disappear real estate values will be less affected.

The Mortgage Bankers Association reported on Friday that there was a decrease in foreclosure applications for the last quarter of 2009. This was particularly good news considering the fourth quarter typically sees a rise in foreclosures due to heating costs, according to the MBA.

While foreclosures will still be coming the decrease appears to make the problem improving or, at the very least, not getting worse. The nation’s employment numbers need to improve before we are out of the woods but slowly and steadily we are climbing out of the recession and real estate is taking baby steps toward a solid recovery.

Click here to read the full report from the MBA.

Selling Your Home? Choose the Right Realtor

Debbie — Thu, 07 Jan 2010 16:49:14 +0000

Take time to choose the right broker when selling your home

When preparing to sell your home it is important to find a real estate professional that will best suit your needs. A warm handshake and a friendly smile is all well and good but if you want to sell your home pick a broker that is experienced and knowledgeable, someone that will do the best job for you. When selecting your real estate agent here are a few things to keep in mind:

Data. Get a prospective Realtor to bring in a copy of what they have listed and closed. They can present you with an MLS report that displays their inventory.

References. Get references from a potential Realtor and call them. Find out what other people’s experience with a particular Realtor has been.

Price. Get an evaluation of your property. A solid real estate professional will be able to detail what has been selling and for what price. He will be able to evaluate your home and your location, giving you a value for your home that will help sell it not deter people from looking at it.

Plan. What does your Realtor plan to do for you in terms of marketing, sales, listing, etc. Make sure he has a plan for your house and find out what he is willing to do to get it sold for you.

Real estate is often a person’s most valuable asset. Do your legwork and choose the best broker for your home. He or she should be a salesperson. If they can sell themselves to you perhaps they are halfway to selling your home for you as well.

Remodeling? Exterior Improvements Give More Bang for the Buck

Debbie — Sun, 03 Jan 2010 21:24:55 +0000

Exterior improvements give more of a return when remodeling

There is an annual report that examines the cost versus value for home remodeling. The report is helpful for those who are considering making improvements to their homes, especially if their home is one that they consider selling in the near future. Historically, bedrooms and bathrooms are where people consider spending their money but the return on the remodel investment is not necessarily there.

According to the 2009 Remodeling Cost vs. Value Report the best return for your money are exterior improvements that often are lower cost projects to begin with. Adding decks, replacing siding, new doors and windows are among projects that recoup the most money when re-selling a home. The return on these projects is typically 80% or more.

The annual report shows how important first impressions are. If you are considering selling your home make sure that the exterior is as eye catching as it can be.

Click here to learn more about remodeling costs versus value at The National Association of Realtors’ website.

Waiting For the Bottom

Debbie — Sat, 26 Dec 2009 19:14:12 +0000

Waiting for the bottom in real estate is similar to grabbing a Yo-Yo at the bottom, you are usually a little early or a little late

There are many people out there waiting for the bottom to hit in many facets of the economy, including real estate. Perhaps there will be a big announcement one morning across newspaper headlines and across the internet “THE BOTTOM IS HERE: NOW IS THE EXACT MOMENT TO BUY”. Of course by the time the announcement comes the bottom will have hit and the exact time to buy real estate will have come and gone.

A great analogy to the bottom of the real estate market is a yoyo. Take a yoyo in your hand and use it. Can a person grab the yoyo at the exact moment it hits bottom every time? Chances are a person will grab it just before it hits bottom or just after, rarely at the exact bottom. Real estate is the same game, if it is indeed a game. If people knew, absolutely knew, the exact time to buy stocks, real estate, or any other investment then no one would ever have a financial worry.

For people who believe in investing in real estate now is a great time to buy. Interest rates won’t be low forever, real estate has either already hit the bottom, is about to or is already on its way up, we’ll know for certain sometime in the future. If you want to buy at the bottom, buy now or wait until it’s too late, when you can look back and say, “If only I had bought then.”

Real Estate, Where are We?

Debbie — Tue, 22 Dec 2009 16:12:41 +0000

It is a buyer's market

When it comes to real estate the general sentiment appears to be that of putting 2009 in the past and looking forward to a brighter 2010. Looking at where we are and where we are headed as far as real estate goes will take us from the present into the future. Currently home values are affordable, because prices are low and interest rates are low. Both of these low levels add up to the fact that it is a great time to be a buyer when it comes to real estate.

Interest rates have been hovering at 5% or lower for the better part of the past year, a trend that cannot be expected to continue. As the market stabilizes more and the economy gets better, interest rates will rise. While home prices still may drop in many areas of the country, they will not drop much more. Areas that are less affected by foreclosures, short sales and REO properties are likely to level out faster than other areas due to the lack of distressed sales in their inventories. A rise in interest rates may bring real estate prices down to sell but the days of 20% and 30% decreases appear to be unlikely.

In a nutshell now is a great time to buy if you have been waiting for the right time to plunge into the market. Take advantage of low interest rates while they are here. It is a buyer’s market now, it won’t be forever.

For an interesting analysis of the real estate conditions and a forecast of 2010, by CNN Money, click here.

Examine the Closets in Your Home

Debbie — Sat, 12 Dec 2009 16:06:51 +0000

An organized closet can make the difference when trying to sell a home

When considering selling real estate the question surfaces, what can I do to improve my home and make it more appealing to a prospective buyer? Looking at your closets might be the answer. Closets may be the small improvement your home needs when getting ready to sell.

Newer homes tend to have bigger closets and they aren’t just dark spaces with doors any more. Today’s closets, thanks to companies like California Closets and other offshoots, are filled with light and organized spaces like drawers, shelves, shoe racks and hanging bars that hang at different heights to accommodate different articles of clothing. Some closets come across as small rooms. Regardless of whether you have a new home or an older home, if your closets aren’t organized they can be.

Closets can be do-it-yourself projects or created by a contractor or a closet company. Remodeling closets can be an inexpensive re-model that can add value to the sale of your home without breaking the bank.

Home Inspection Before You Sell

Debbie — Thu, 03 Dec 2009 14:36:08 +0000

Consider doing a home inspection before selling your home

If you are considering selling your home in the current real estate market it would be prudent to have a home inspection completed before putting your home on the market. It is rare that a buyer will not have a home inspection done before closing and being aware of any problems and taking care of them prior to selling can alleviate the pain that surprise issues can bring.

It is a competitive real estate market out there. A seller’s best chance of snagging a buyer comes with having his real estate in top notch condition. More that looking good a home needs to function well and it is important to examine the bones. A home inspection will inform the buyer of faulty plumbing, wiring, heating and cooling issues, the need for roof replacement, painting, etc.

If problems with a property are faced and dealt with before selling, there should be no surprises when going through the contractual steps before closing.

For more information on home inspection and locating a home inspector visit the website for the American Society of Home Inspectors by clicking here.