Getting A Good Deal On Your Home

To make sure you get a good deal on your dream home, time your buying for when the market is slow, if you can. However, most real estate gains in value over time. Therefore, if and when you decide to sell, you’ll usually be profiting. When you see your dream house, you probably don’t want to wait for the market to slow down, or you might miss it.

Consider the location that the house is in, as well. Some locations are hot, as far the market goes, and demand for them will keep growing, no matter how slow the market is elsewhere. Neighborhoods near good schools and other amenities will bring you a higher price should you ever decide to sell, as well as guaranteeing you a good environment. Unless there’s some unique thing going on in a bad neighborhood, such as urban revitalization, you’ll find that these properties won’t grow in value at all, and may tend to lose money.

Check the value of the home you want to buy against those in the area to see if you’re getting a good value. It’s also important to negotiate the price of your house. Many sellers price their homes expecting that you will bargain on the end value, so you’ll lose out on a good deal if you don’t negotiate. A good buyer’s agent is invaluable in negotiating a good deal.

Finding Your Dream House

Everyone dreams of someday owning their own home. No matter what your dream house looks like, with careful planning, you can find it. The internet and a good buyer’s agent are two powerful tools to help you in your search.

Most home searches today start on the Internet. In most towns, hundreds of online listings are available, including virtual home tours, photographs, and aerial shots of the neighborhood that let you decide whether you want to ask for a showing. By the time you contact your real estate agent about a particular listing, you know more about the house you want to see than was ever possible before.

Motivated buyers can often find a home that suits them in two weeks. Look through the listings, talk to your buyer’s agent about exactly what you want in a home, and cruise the area you’re interested in living in for signs reading “For Sale By Owner.” You can surely find a home that suits your needs and will make you happy for years to come. Good real estate agents will listen to what you want and need, and not waste time by showing you homes that don’t fit them. If you’re working with a buyer’s agent, they might even preview any homes before showing them to you, to weed out the ones that don’t fit.

Most people will see a number of homes in one day when looking for their dream home. It’s advised to see no more than ten though, because they will all start to blur together. Try to get brochures for the individual homes you see, if they’re available. This will help you remember the individual features of each home and decide whether you want to buy it. When you see the perfect one, don’t keep looking. It could be gone before you come back.

Home Staging Tips for Sellers

Staged homes sell and average of 32% faster

According to statistics from staging101.com, a staged home sells 32% faster and for 3 to 10% more than one that is not staged. But what is “staging” anyway? Think of it this way, staging is the art of creating an environment that other people can easily imagine themselves immersing themselves in.Â

A home is personal, and we naturally tend to surround ourselves with personal things in this very personal space. Things like family pictures, mementos, and stylistic artwork, all make a house seem more like a home—to you anyway. But when you’re trying to sell your home, the goal is to make the home feel inviting to everyone who walks in.Â

Just like you are doing when looking for your new home, you want buyers to envision where they might place your couch, the beautiful portrait of their children, or that antique vase passed down through 5 generations. Staging is a process of making your home day-dream friendly.Â

Some simple staging techniques:

  • Declutter – a lot.Â
  • Take down personal pictures
  • Remove refrigerator magnets and to-do lists
  • Clean your corners and baseboards – you now overlook the dust there, but other people won’t
  • Purchase electric air fresheners for each room – you want the smell of your home to be inviting, but don’t rely on candles that can’t be left burning while you’re away from home. Â

In short, staging is about selling a feeling of hope and excitement—the same kind of feeling you probably get when you walk into a builder’s model home. You want buyers to imagine themselves enjoying a bath in your bathtub, not imagine you taking a bath in your bathtub. When buyers can imagine themselves relaxing and enjoying their life in your home, you’re well on your way to making a sale!

Resale Value is Important

Of course the house that you picked out is desirable – you chose it right? But will it have good resale value? Will others see what you see in it? Since the average American family will most likely not stay in one location, choosing to buy a home that will grow in value and sell quickly should definitely be a consideration.

Location, Location, Location…that is what most people think of when considering resale value. But, what may be a desirable location now may not be when it is time for you to sell. You still need to consider how the community is changing and the areas where new growth seems to be heading. You also need to evaluate the quality of services nearby (groceries, shopping and schools) because these can either add or take away from the value of your home.

Avoiding outdated features is another way to increase your home’s resale value. One-bath homes sell for significantly less than two-bath homes. Tubs and showers in outdated colors may be difficult to replace without major structural work. Kitchen appliances in odd colors, non-neutral carpet choices and major layout changes (like sealing off the garage) can also pose problems.

Basically, you need to keep future buyers in the back of your mind when choosing your home and when making design choices once you have moved in. This is especially important if you expect to relocate within three to five years. A wise decision now can have a big payoff when the time comes!

For more tips, read “How to Buy a Home with Good Resale Value” by Janet Wickell at http://homebuying.about.com/cs/howtobuy/a/home_resale.htm

Kids Get Stressed Too!

Even the most organized adult can feel stressed leading up to a move. Kids can be especially sensitive to feelings surrounding a move though. Parents may not be acting in their normal fashion and even very young children can pick up on this vibe. You can help make the transition easier, however, by keeping your kids involved and informed. Let them make decisions whenever possible and give them an opportunity to voice their concerns.

Here is what Shelly Seale, an online journalist and relocation expert, had to say about moving with children:

Tips for making the transition:

Give young children an entertaining travel kit for the move.

Give older children a diary for recording the trip & move.

Give children of all ages a special address book & stationary set for keeping up with old friends.

Take videos of the new home if the kids won’t get to see it before the move. Arrive well before the movers so kids can explore and become acquainted first.

Give children a chore to do, such as working on their room (younger), supervising little siblings (middle), and painting or arranging furniture (older kids).

Take a break with the family as soon as possible to explore the museums, sights and recreation in your new city.

Arrange a visit to new schools and a meeting with the teacher before the actual first day of attendance.

Encourage the children to bring new friends home.

Of course, the age of your children can make a big difference as well! Different ages will respond differently to the move. Children under age six may be concerned with being left behind whereas teenagers will mostly be concerned with fitting in.

For more information on what to expect from each age-group, read Seale’s full article at http://womentodaymagazine.com/family/movekids.html

Why Buy?

If you are currently renting a home or apartment, you may be asking yourself whether or not you should purchase your own home. Is this the right thing to do right now?

Purchasing a home is a huge milestone in anyone’s life, so be sure to weigh all of your options and do as much research as you can ahead of time. Even if you think you are just looking – you are bound to find that perfect place!

The purchase of a home is an investment. When you rent, your monthly check is basically gone forever into the hands of your landlord. There are several tax advantages to homeowners, however, that can benefit you even in your first year of ownership.

According to the US Department of Housing and Urban Development, you can deduct the cost of your mortgage interest from your federal income taxes, and usually from your state taxes. This will save you a lot each year because interest makes up most of your monthly payment for a majority of the years of your mortgage. You can also deduct the property taxes you pay as a homeowner.

Even though the value of real estate can fluctuate up or down from year to year, over time, real estate consistently appreciates. This can prove to be very valuable when it comes time to sell your house.

Finally, you’ll enjoy having something that’s all yours! When you rent you are often limited in the changes that you can make to the property. When you own your own home, you can paint the walls, plant trees in the yard and generally put your own touch on the place. It gives your family a sense of stability and the knowledge that there is “no place like home!”

Bragging Rights for Raleigh Real Estate Owners

Raleigh NC Real Estate ValuesIt’s not new news that Raleigh area real estate is one of the best real estate values in the country, but when news channels and magazines report on it, we, like the other residents and soon-to-be-residents are happy to have the opportunity to use our bragging rights! News Station WRAL recently ran a story about the growth in Raleigh real estate values despite the slump elsewhere in the country.

If you’ve been lucky enough to be living in the Raleigh area over the past 5 years or so, you probably didn’t even notice the downturn in the US market. But in places like Las Vegas, median home prices are down more than $30,000 (almost 10%) since last year! In the first quarter of 2007 Wake County home values have experienced a healthy increase.

In other areas of the country, home sales are slowing, but in Wake County, real estate is moving quickly. Though the median home value here in Raleigh is about $32,000 higher than the median value of the US as a whole, there is no shortage people that want to buy homes here. Many refugees from California, New York, and Florida who are used to paying upward of half a million dollars at home for a Raleigh home with a $250,000 price tag are happy to pay the price.

Wondering which city has experienced the highest increase in home values between 2006 and 2007? Dallas TX holds the top spot right now with an average home value increase of around 6.5%. Raleigh is close behind. According the WRAL news experts, Raleigh has experienced between a 5 and 10 percent increase between 2006 and 2007.

Durham Construction = Financial Security for Home Owners

Durham Real Estate Refurbishment Project

You’ve probably seen the construction in Durham and let’s face it; it’s a mess. If you’re just visiting the area from out of town and looking to buy property, you might be turned off by the orange barrels and mounds of grubby dirt. But as much of an eyesore as construction is, it means great things for future property values.

The Triangle area takes pride in its cities. If you’ve lived here for most of your life, you may just consider it a ‘given’ that a city would care about its aesthetics, but it’s a trait that not every city shares. The fact that the local governments make a continued effort to improve the common areas of the cities is just another sign of how solid an investment in Triangle area real estate is.

The construction in downtown Durham is part of a $13 million dollar refurbishment project. Where there are now piles of overturned dirt, there will be more than 200 shade trees lining the streets and smooth sidewalks embellished with red brick pavers for a bit of nostalgia.

The transformation isn’t only taking place on the surface, but below the streets as well. Old basements and (more than 40!) had to be removed and outdated utilities have been replaces.

So though ugly and noisy, the project shows a commitment to quality that makes us all feel great about living here and investing here.

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