Preparing for your photo shoot

You already know that getting your home ready for market means cleaning everything from the floor to the ceiling inside and cleaning everything outside from your door to the edges of your property.

 

You’ve already heard that you need to de-clutter and not allow things like newspapers, toys, shoes, clothing, or trash cans to be in evidence when buyers arrive.  You already know that you should remove all personal photos, trophies, collections, hunting mounts, and other items that personalize the house.

 

When getting ready for your photo shoot you need to go one step farther.  These photos are going to be the magnets that draw prospective buyers to your home – so make them the best they can be. It takes a bit of work, but since it could shorten your time on the market and add thousands to your selling price, it’s worth the effort.

 

First, in this case “clean” means “polished,” because one fingerprint on the front of the dishwasher or a film of dust on the dining room table WILL show up in the photos.

Then there are some things you might not have considered.

• Open blinds and window treatments AND turn on all overhead lights and lamps
• Use all bulbs of the same temperature – warm or cool – and replace any burned out bulbs.
• Turn all ceiling fans, televisions, and computer screens off.  
• Remove all small rugs – even from the bathroom.
• Clear the counter-tops in both kitchen and bath – remove all appliances, soaps, toiletries, etc.
• Place new towels on display in the bathrooms.
• Press bed linens and bed skirts – and remove anything from under the bed that might show in a photo.
• Remove clutter from all surfaces – fireplace mantle, dressers, end tables, desks, etc. Two or three decorative objects per surface and flower arrangements are fine.
• Remove all waste baskets, diaper pails, etc.
• Close all toilet lids.
• Remove all signs that a pet lives in your house – dishes, beds, scratching posts, etc.
• In children’s rooms, remove wall posters and any objects bearing the child’s name.
• Remove phone chargers and tuck away cords/cables leading to TV’s, computers, etc.
• Straighten all chairs and space them evenly around tables – in the house and on the patio.
• Use decorative place settings on the dining table if available.
• Outside, put the cars in the garage and shut the doors.
• Put away all visible hoses, garden tools, yard toys, etc.
• Mow the lawn and weed the flower beds.

As you prepare, envision the homes you see in glossy magazines – and strive to make your house look just as inviting and impersonal. Remember, your object is to cause would-be buyers to envision themselves and their own possessions in the house.

Choose the best neighborhood, then choose the least expensive house

Courses for would-be real estate investors often give the advice: “Choose the worst house in the best neighborhood.”

 

It’s good advice for future homeowners as well. Perhaps not the “worst” house – but unless there’s one that’s a derelict or half the size of the others, it’s wise to at least choose the least expensive house.

 

I know – that probably won’t put you in the most updated home on the block. It probably won’t have all new top-of-the-line flooring, cabinets, and appliances.

What it will have is potential for enormous appreciation.

 

What home buyers often don’t understand is that the neighborhood has a huge impact on the value of the individual homes. This works both for and against individual homes.

 

If a home is larger and/or more expensively appointed than the homes surrounding it, it’s value will be lower than it would be if it was in a neighborhood of similar homes. Interestingly, if one home is vastly different, it may be a long time on the market before finally selling at a rock bottom price.

 

People who want McMansions – and can afford to pay for their upkeep – want to live in neighborhoods filled with McMansions. They don’t want to live in a mid-range neighborhood.

 

On the other side of the coin, if a home is perhaps smaller or older, but still of good quality and in good condition, it’s value will be higher than it would be if it was in a neighborhood of similar homes.

 

(Remember what your Mom said – you’ll be judged by the company you keep. It’s the same for houses.)

 

Thus, as long as the neighborhood is good, if you can find a bargain in a home that perhaps needs a new coat of paint, new flooring, or updated appliances, the work you do will reward you handsomely.

 

A second advantage: If you purchase a home that already has new flooring, appliances, etc. you’ll be paying for those updates. Unless you’re fabulously wealthy, that probably means that you won’t want to replace them, even if they aren’t quite your taste.

 

If you purchase a home that needs those renovations, you’ll not only gain the appreciation in monetary value, you’ll be able to choose the colors and styles that please you.

 

Once you’ve made a purchase, the one thing you can’t change is the neighborhood.

 

So take time to look at the surrounding homes. Are they well maintained? Are they mostly owner or tenant occupied? Are there renovations going on? Is the neighborhood served by a good school system?

 

Ask your agent to look back to see how much homes in this neighborhood have appreciated over the past few years. Then ask if he or she knows of any new developments in the area that will affect home values.

 

Choosing the least expensive house in the best neighborhood can be one of the best investments you’ll ever make.

 

Call me – I’ll be glad to help you find it.

Searching for a Tamaqua home in the heat of summer?

If you’re searching for a home here in Tamaqua while Mother Nature has the outdoor thermostat turned to “high,” plan ahead for your own comfort. When you’re overheated, tired, and cranky is no time to make a home buying decision.

If you have small children, hire a sitter or enlist the help of a relative or trusted friend to care for them while you’re house-hunting. Young children get tired touring homes under the best of conditions – they’ll tire even faster in the heat.

If you’re here from out of town and traveling with pets, it’s best to put them in a doggie (or kitty) day care while you’re searching. Otherwise, someone will have to remain in your car to keep the air conditioner running. If you need help finding a safe place for them to stay, let me know.

Wear light-colored, loose-fitting clothing and comfortable shoes. Yes, it’s good to look nice, but being uncomfortable will distract you from looking at homes.

Avoid over-burdening yourself – if you carry a 20# handbag, plan to leave it in the locked car while touring homes.

If you feel chilly getting into an air-conditioned car after being outdoors, bring a sweater or light jacket. Freezing isn’t any more fun than roasting.

If we’ll be looking at homes with large yards or acreage, and you plan to spend time walking around outdoors, bring a wide-brimmed hat. Do use sun screen. Do wear shoes that are suited for walking.

I carry a cooler filled with ice and bottled water. If you’d prefer to bring along your choice of juices or soft drinks, please feel free to do so.

Searching for your new home here in Tamaqua should be an enjoyable experience, so see to ensuring your physical comfort before you begin the day.

When you’re renting your Tamaqua home, what are you paying for?

If you’ve been waiting to purchase your own home until:

• Prices take a dip
• You can afford a move-in-ready dream home

  ...You might want to stop and think about what you’re paying for each month when you pay your rent.

Unless your landlord inherited the house, has had it so long that it’s been paid off, or purchased with all cash, you’re paying the landlord’s mortgage payment. But that’s not all.

You’re also paying for:

• Property taxes, which may be higher since the house isn’t owner-occupied
• Casualty insurance, which only covers the structure, the fixtures, and the owner’s liability - not your personal possessions
• A fund that pays for maintenance, repairs, and loss of income during vacancies
• In some cases – a rental manager
• A bit of cash flow (profit) for the owner

  As a homeowner, you’ll pay for taxes and insurance, and if you’re wise you’ll put money aside for maintenance and repairs. However, you won’t be paying a rental manager or adding to a landlord’s cash flow.

  

In addition, you’ll be gaining a bit of equity with each payment. When you pay rent, all you gain is a roof over your heads. Oh – and some rules to follow.

Meanwhile, there’s nothing going on in the economy that’s apt to trigger a new loss in housing values. What IS going on is apt to cause interest rates to rise – and if that happens, the cost of housing will rise even if prices don’t budge one dollar.

Consider this:

• At 4% over a 30 year mortgage, the principal and interest payment on $100,000 is $477.42.
• At 5%, the payment is $536.82

  That’s a difference of $59.40 per $100,000.

To look at it from another angle, if you purchase a house with a $300,000 mortgage at 4%, your monthly principal and interest payment will be $1,432.25.

At 5%, that $1,432.25 will only get you a $266,801.85 mortgage loan.

 

If you’re moving to another city in the near future, it’s wise to continue renting. If you plan to stay right here in Tamaqua, it’s wise to consider purchasing, even if it means buying a smaller or less elegant home than you’d like.

 

The equity you’d build in a few years could give you a strong boost toward ownership of that dream home.

 

Think about that...

Get pre-approved before you go shopping for your new Tamaqua home

When you want to purchase a home in Tamaqua, one of your first steps should be meeting with a local lender and getting pre-approved for a loan.

 

This step is important for 3 reasons:

 

1. You'll know what you can spend. Looking at homes you can't purchase not only wastes your time, it's depressing. And, as many home shoppers have learned, once you switch to homes you can afford, none of them will please you.

2. You'll know if you need to restrict your search to Tamaqua homes that meet certain requirements. VA and FHA both have guidelines regarding the homes that will qualify for their financing.

 

3. When you have a pre-approval letter in hand, it's more likely that your offer will be accepted, or at least considered.

 

In fact, if you're shopping for bank-owned homes or short sales here in Tamaqua, an offer without a pre-approval letter will probably be rejected as a matter of routine. Many private sellers are taking the same attitude – they don’t want to make their home unavailable to others unless they’re pretty sure you can close.

 

Don’t mistake a Mortgage Loan Pre-Qualification for a Pre-Approval.

 

There is a huge difference between the two. A pre-qualification is done with no verification. As a result, it doesn't mean a thing to either private sellers or banks.

 

You simply talk with the mortgage lender and tell him or her about your situation. You state your income and your expenses, discuss your employment history, and answer a few questions about your credit. Then they tell you if you appear to be qualified.

 

When you become pre-approved it means the lender has verified your income, assets, down payment availability, and employment. He or she has also checked your credit. So unless you do something to change the picture, you will be able to get a home loan for the amount the lender quotes.

 

Note that not doing anything to change the picture is vitally important. You mustn’t draw down your bank accounts, make new purchases beyond daily living expenses, let a vendor check your credit, change jobs, book a vacation, or make a late payment. Any of those things will change your credit picture and could void your pre-approval.

 

If you need to find a good lender, get in touch (edentroxell@yahoo.com) I'll be happy to provide you with a list of Tamaqua lenders who have served my clients well.