Erie Real Estate

Does Moving Up Make Sense?

These questions will help you decide whether you’re ready for a home that’s larger or in a more desirable location. If you answer yes to most of the questions, it’s a sign that you may be ready to move.

1. Have you built substantial equity in your current home? Look at your annual mortgage statement or call your lender to find out. Usually, you don’t build up much equity in the first few years of your mortgage, as monthly payments are mostly interest, but if you’ve owned your home for five or more years, you may have significant, unrealized gains.

2. Has your income or financial situation improved? If you’re making more money, you may be able to afford higher mortgage payments and cover the costs of moving.

3. Have you outgrown your neighborhood? The neighborhood you pick for your first home might not be the same neighborhood you want to settle down in for good. For example, you may have realized that you’d like to be closer to your job or live in a better school district.

4. Are there reasons why you can’t remodel or add on? Sometimes you can create a bigger home by adding a new room or building up. But if your property isn’t large enough, your municipality doesn’t allow it, or you’re simply not interested in remodeling, then moving to a bigger home may be your best option.

5. Are you comfortable moving in the current housing market? If your market is hot, your home may sell quickly and for top dollar, but the home you buy also will be more expensive. If your market is slow, finding a buyer may take longer, but you’ll have more selection and better pricing as you seek your new home.

6. Are interest rates attractive? A low rate not only helps you buy a larger home, but also makes it easier to find a buyer.

Dont' forget that the Home Buyer Tax Credit extension applies to move up buyers, too.  Up to $6,500 could be your tax credit.  Contact me for more details.

The home pictured in this post is 3775 Harbor Ridge Trail.  Tour it here.  It's located in a golf community.  

5 Things to do Before Putting Your Home on the Market

1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before any showings.

2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.

3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.

4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.

5. Spruce up the curb appeal. Pretend you’re a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?

12 reasons to list during the Holidays

12 reasons to list now during the Holidays:

1. There is less competition for buyers.
2. Winter prospects are more serious buyers.
3. Your home looks better during the holidays.
4. One of the highest percentages of 'listings sold' to 'listings taken' occur during this time of year.
5. You may receive more money for your home now - because you have less competition.
6. Throughout the holiday season, you may restrict showings during your personal family events.
7. Buyers have more time to look at homes during the holidays, especially during vacations.
8. January is traditionally the biggest transfer month - and you must be on the market to capture that market.
9. By selling now, you can have a delayed closing or extended occupancy until the beginning of the following year if you want it.
10. When you sell during the winter you have an opportunity to buy during the Spring, when many homes are on the market.
11. You may have fewer actual showings, but more qualified and motivated prospects.
12. Corporate transferees, who need to buy a home now, can't wait until Spring.

Dont' forget about the tax credit, too.  Call or e-mail for details.

4 Interior Painting Tips

Painting is a quick and easy way to freshen up your house.  Being smart with the prep work can make a big difference in the quality of the results.

1. Get the surface ready.  You want the paint to glide on smoothly, so be sure the surface is clean before you start painting.  Remove any handprints, dirt, or scuff marks.  Lightly sand any glossy spots to avoid streaks.
2. Select a paint sheen and color.  Most paint stores are making it easier to narrow down your choices by offering small trial sizes so that you can test the color at home and look for any variations in daylight and night.  Lighting has a big effect on the way color appears.  Higher sheen paints tend to offer more durability than flat paints, so use them in high traffic areas.  Stain or low-lustre finishes offer more warmth and depth than a flat paint.  Consider a high sheen paint on the ceiling, which offers good reflection in the room.
3. Don't go cheap on the paint. It's always tempting to save a bcuk, but it might not be worth it on paint.  Painting is a big job, so you want the expense and quality to show.  A top-quality acrylic latex paint will go on smoothly and allow for easy soap and water cleanups.
4. Choose the right paint tools.  If you're using a roller to paint, select the right length of roller nap cover for proper paint coverage.  The smoother your painting surface, the shorter the nap should be. 

http://www.paintquality.com/

Removing Mold

What is mold?  Mold is a type of fungus made up of tiny microscopic organisms that can grow practically anywhere - ceiling tiles, wallpaper, wood, paints, carpet, and insulation.  It multiplies via spores and shows itself in a variety of colors - greens, browns, grays, blacks, and even yellows.  The most common mold growth in the house is the bathroom, since mold grows on moist materials.

What can sellers do about it?  Identify the problem area, then creat a plan for a safe and complete removal.  If the mold is found in a small area, less than 10 sq ft, removal can be a do-it-yourself project:

1. Wear a face mask, goggles, and rubber gloves.  Don't touch mold with bare skin.

2. Seal off the area to prevent the tiny spores from spreading to other parts of the house during the removal process.  Open the windows and cover heat registers and vent ducts.

3. Wash the area with a mild detergent solution, such as laundry detergent and warm water.  As an added step, wipe the area with a solution of quarter-cup bleach and one qt a water.  Do not mix ammonia and bleach; the fumes can be toxic

4. Dry the surface completely. 

5. Apply a borate-based detergent solution.  Don't rinse.  This will help prevent the mold from growing again.

6. Don't take shortcuts.  Never paint or caulk over moldy surfaces.  the paint will peel and the mold will resurface.

7. Call a professional.  Just when you think you won the battle, you might see dormant spores reappear or even spread to clean areas of the house, particularly if proper removal procedures weren't raken  You may need to call a mold remediation company to resolve the problem.

http://www.epa.gov/mold/

Things to do Before Selling

5 things you should do before putting your home on the market:

1.    Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection.  An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you'll be able to make repairs before showings and open houses begin.

2.    Organize and clean.  Pare down clutter and pack up your least-used items - large blenders and other kitchen tools, out of season clothes, toys, etc.  Clean the windows, carpets, walls, lighting fixtures to help make the house shine.

3.    Get replacement estimates.  Do yo have big ticket items that are worn out or will need to be replaced soon, such as your roof or carpeting?  Get estimates on how much it would cost to replace them, even if you don't plan to do it yourself.  The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.

4.    Find your warranties.  Gather up your warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.

5.    Spruce up the curb appeal.  Pretend you're a buyer and stand outside of you home.  As you approach the front door, what is your impression of the property?  Do the lawn and bushes look neatly manicured?  Is the address clearly visible?  Is the walkway free from cracks.  Is the walkway and driveway free of snow?

Does Moving Up Make Sense?

These questions will help you decide whether you're ready for a home that's larger or in a more desirable location.  If you answer yes to most of the questions, it's sign that you may be ready to move.

1.    Have you built substantial equity in your current home?

2.    Has you income of financial situation improved?  If you're making more money, you may be able afford higher mortgage payments.

3.    Have you outgrown your neighborhood?  Would you like to be closer to your job or in a different school district?

4.    Are there reasons why you can't remodel or add on?

5.    Are you comfortable moving in the current housing market?  There are some good buying opportunities available in today's market.

6.     Are interest rates attractive?  Interest rates are hovering around 5%.

Dangers of Overpricing

12 Dangers of an Overpriced Listing

1.  Sellers lose the positive impact of the newness of their home on the market, and can lose prime selling time.

2.  Sellers lose confidence in their agent, blame agent when their home is not sold.

3.  Buyers concentrate on objections ad minimize good features of the home.

4.  Buyers become confused about values and generally buy another home where they are more   comfortable about the price.

5.  Sales associate lose enthusiasm about showing properties that Buyers reject due to price.  They prefer showing homes where their chances of selling are better.

6.  Sellers place themsleves in a poor position to obtain maximum dollars since property can become "shop worn".

7.  Sellers lose valuable time.

8.  Buyers become suspicious, thinking that there is something wrong with either the home or the neighborhood when a home has been on the market too long.  Buyers always ask how long the house has been on the market.

9.  The real estate agency loses its reputation in the area when a property is not sold.

10. Negotiations between Buyers and Sellers usually break down when a home is overpriced becuse Seller does not a good offer when they see one.

11. The real estate agency wastes advertising dollars.

12. Sellers lose opportunities to buy another home or incur additional costs when carrying two mortgages.

12 Reasons To List Now

During The Holidays In November And December

1.  There is less competition for buyers.

2.  Winter prospects are more serious buyers.

3.  Your home looks better during the Hoildays.

4.  One of the highest percentages of "listing sold" to "listings taken" occur during this time of year.

5.  You may receive more money for your home now - because you have less competition.

6.  Throughout the Holiday season, you may restrict showings during your personal family events.

7.  Buyers have more time to look at homes during Holidays, especially during vacations.

8.  January is traditionally the biggest transfer month - and you must be on the market to capture   

     that market.

9.  By selling now you can have a delayed closing or extended occupancy until the beginning of   

     the following year if you want.

10. When you sell during the winter you have an opportunity to buy during the spring, when many homes

      are on the market.

11. You may have fewer actual showings, but more qualified and motivated prospects.

12. Corporate transferees, who need to buy a home now, can't wait until spring.

Want To Make Your House More Salable?

10 Ways to Make Your House More Salable

1. Get rid of clutter. Throw out or file stacks of newspapers and magazines. Pack away most of your small decorative items. Store out-of-season clothing to make closets seem roomier. Clean out the garage.

2. Wash your windows and screens to let more light into the interior.

3. Keep everything extra clean. Wash fingerprints from light switch plates. Mop and wax floors. Clean the stove and refrigerator. A clean house makes a better first impression and convinces buyers that the home has been well cared for.

4. Get rid of smells. Clean carpeting and drapes to eliminate cooking odors, smoke, and pet smells. Open the windows.

5. Put higher wattage bulbs in light sockets to make rooms seem brighter, especially basements and other dark rooms. Replace any burnt-out bulbs.

6. Make minor repairs that can create a bad impression. Small problems such as sticky doors, torn screens, cracked caulking, or a dripping faucet may seem trivial, but they’ll give buyers the impression that the house isn’t well maintained.

7. Tidy your yard. Cut the grass, rake the leaves, trim the bushes, and edge the walks. Put a pot or two of bright flowers near the entryway.

8. Patch holes in your driveway and reapply sealant, if applicable.

9. Clean your gutters.

10. Polish your front doorknob and door numbers.