Increase the value of your home without breaking the bank

When you’re preparing your home for sale, remember that details count. When buyers tour your home, their emotions and subconscious perceptions will play a large role in the value they see.

 

First impressions will set the tone and affect what those buyers notice once inside the house. So do a bit of landscaping, especially in the front yard. Keep the lawn mowed and the weeds pulled. If you have flower beds, add fresh mulch. If you don’t have flower beds, add some pots of colorful flowers. If you have shrubs, trim them to look their best. If you have a fence, give it a new coat of paint.

 

If the exterior of the house looks a bit dull, rent a power washer and give it a scrub. Do you need to touch-up the paint on your window trim? If so, do it.

 

If you have a mailbox out front, really look at it. Does it look old and worn? If so, replace it.

 

Is your house easy to find? Look at the house numbers – if they’re small or dark, replace them with bright, shiny new ones that are large enough to see from the street with ease.

 

The front door matters – so either replace it or repaint it to give it a fresh look. If you have a screen door, make sure it’s clean. If the screen is torn, replace it. While you’re there, add a fresh new “welcome” mat.

 

Inside – You already know that everything needs to be sparkling clean. However, there are trouble spots that many homeowners overlook when cleaning. Among those spots are the light fixtures. Make sure that they’re all free from dust and bugs – and while you’re at it, check to see that every light bulb in the house works.

 

If you have ceiling fans, remember to include them in your pre-listing scrub and polish activities. Don't let your potential buyers look up and see dust bunnies hanging from the fan blades.

 

Clean off the tops of your refrigerator, washing machine, dryer, furnace, water heater, and toilet tanks. Then scrub them. “Clean” will make them all look newer and well-maintained.

 

Check your switch-plates. If they’re cracked or worn looking, replace them.

 

One more thing: Door-knobs, faucets, drawer and door pulls, and light fixtures can really date a house – so take a critical look at yours and see if any of them need to be replaced.

 

Did you list your Tamaqua home and watch it expire off the market unsold?

Are you wondering why that happened?

 

There is always a reason.

• Some years the market is simply flooded with too many homes.
• Some homes are unique – so finding that one right buyer is like searching for a needle in a haystack. It takes a long time.
• Some homes have a really undesirable location or are stigmatized by a suicide or other traumatic event. Again, these require a really special buyer.

But those aren’t the usual reasons.

 

The six primary reasons why a home doesn’t sell during the listing period are:

• Over pricing
• Poor presentation by the seller
• Poor marketing by the agent
• Ineffective negotiating
• Failure by the agent to follow-up between offer and closing
• The buyer's inability to secure a mortgage loan

If you’d like to discover why your home in Tamaqua didn’t sell, and if you do want it sold, let’s talk.

 

I’ll help you pinpoint which of these “breakdown” points applies to your expired listing. Then I’ll show you how we can make sure it doesn’t happen again.

 

You can reach me by calling 570-640-8109, by texting 570-640-8109 or by emailing edentroxell@yahoo.com

 

10 easy, inexpensive ways to save money and become more eco-friendly

When it comes to your home, there are numerous expensive ways to become more eco-friendly. Start with replacing old appliances with new ones that use less energy. Then install double or triple glaze windows. Buy some heavy drapes for your windows to keep winter cold and summer heat outside. You can even install solar panels if you have enough sunshine.

 

All those things are wonderful, but they might not be in the budget.

 

The good news is, you CAN save money and become more eco-friendly simply by changing some habits.

 

In the kitchen –

Clean your refrigerator coils. Dust and grime build up, preventing the refrigerator from working at peak efficiency.

 

Use your dishwasher – but wait until it’s full to run it. Experts say it takes about half as much water to run the dishwasher as it does to wash dishes by hand.

 

Keep your freezer full. A full freezer uses less energy to stay cold than a half-empty one. So buy in bulk (which saves money) or cook in batches and freeze dinners for fast meals on your busiest days.

 

In the bathroom –

Turn off the faucet. If you generally leave the water running while you brush your teeth – stop it. Turn it on and off as needed.

 

Fix the leaky faucets. That steady drip, drip, drip is using water like you wouldn’t believe.

 

Open the window after showering. Let the excess humidity out, so it can’t stay in the room and turn to mold.

Throughout the house –

Switch to natural cleaners. Harsh chemicals are no friend to the environment – or to your own health. In addition to purchasing natural cleaners, you can save money by making your own.

 

You may be amazed at the good job that combinations of baking soda, vinegar, olive oil, peroxide, and lemon juice can do. Also - Switch from chlorine bleach to peroxide to sanitize counter-tops, cutting boards, etc. (It also works as an inexpensive, invigorating mouth-wash.)

 

Unplug. Did you know that your televisions, games, phone chargers, etc. are all drawing power even when they’re not in use? Get in the habit of unplugging them when you're not using them.

 

Opt for a sweater or a cozy throw before turning up the heat.

Change out to LED lighting. Yes, this one does cost a few dollars, although the price has been coming down over the past year or so. Start with the lights you use most often, and keep going until you get through the house. A bonus – better light with less energy use, and you won’t have to keep changing light-bulbs and adding to the land-fill when they burn out. Those LED lights last, and last, and last.

 

What’s the difference between VA, FHA, and Conventional Loans?

The differences between VA, FHA, and Conventional loans are based on two things: the borrower’s down payment and qualifications, and the condition of the property.

 

VA loans are zero down, but are only available to veterans or active duty military personnel and their families. Do note that zero down doesn’t mean there’s nothing to pay. Either the veteran or the seller must pay closing costs, which may include a VA funding fee of from 1.5% to 2.4%. The funding fee may also be rolled into the loan balance. For more, see this article on The Mortgage Reports.

 

Note that the sellers are not required to pay any of the buyer’s loan costs. This is an item for negotiation. Direct loan costs would include appraisal and title fees, credit reporting fees, etc. In addition to these, the borrower will have “non-loan” fees such as prepaid insurance and taxes, recording fees, HOA fees, and daily interest charges.

 

Regulations allow the seller to pay up to 4% of the purchase price to assist with these fees. Again, there’s no obligation for the seller to do so – this is an item for negotiation before the purchase offer is accepted.

 

VA loans are not subject to mortgage insurance. 

 

FHA loans require 3.5% down. Its typically a loan for those with middle of the road credit. FHA sets limits on loan amounts. This limit varies from one community to another.

In addition to seller’s closing costs, the seller may contribute up to six percent for actual buyer costs related to closing, interest rate buydowns, discount points or other concessions.

 

FHA loans are subject to Mortgage Insurance for the life of the loan if your loan is for 15 years or more and if your down payment is less than 20%.

 

For more information visit: https://www.fha.com/fha_article?id=234

 

Conventional loans require a minimum of 5% down and are typically for borrowers who have good credit.

 

Borrowers with less than 20% down will be required to pay Private Mortgage Insurance. This rate is based on the borrower’s credit, combined with the amount of their down payment. Typically, they must keep the PMI for at least two years, then it can be eliminated after the borrower has at least 25% equity in the home.

 

The condition of the property:

Both VA and FHA have strict requirements regarding the condition of the property to be mortgaged.

 

While this is touted as a safeguard for the borrowers, in reality it is a safeguard for the bank. The house is their collateral for the loan, and when the down payment is low, they want to know that the house will be fit for resale should the borrower default.

 

For eligibility the house must provide safety and security, and must be structurally sound. It can have no broken glass, tripping hazards such as cracked cement or torn flooring, defective wiring, missing handrails, plumbing leaks, or inoperable doors.

 

Homes must have the basic requirements of kitchen, bath, and bedrooms. They must have a steady and safe water supply and be free from mold.

 

These are just examples, as conditions are extensive. For a complete list of requirements, visit http://www.military.com/money/va-loans/easy-to-understand-va-minimum-property-requirements.html and http://www.investopedia.com/articles/mortgages-real-estate/11/fha-minimum-property-standards.asp

 

When a home does not meet the minimum standards, buyers can negotiate with the seller for repairs or move on to choose a different home.

 

Conventional loans do not have minimum property standards, but are accepted based on the appraised value. Thus, a borrower may purchase a fixer-upper property and do the repairs or renovations after the purchase.

 

Talk with your lender to see which loans you qualify for based on your credit scores and down payment. Do always realize that the better your scores, the less interest you’ll pay. If your scores are marginal, your lender will be happy to provide you with instructions for bringing them up before you begin shopping for a home.

 

If you don’t yet have a lender, get in touch. I’ll be happy to refer you to those who have helped my Tamaqua home buyers in the past.