Colors that make your home and buyers happy!

Bring some color into your home to be sure potential buyers feel warm inside. Stalk white gives a sterile cold feeling while pinks and bright greens will make them wonder. Here are some great color choices from MAB;
For larger rooms such as a Family Room, Dining Room and/or Formal Living Room try Tony Taupe or Functional Gray. Accent a wall with Well Bred Brown especially in a large room with lots of windows. This color will work well on a wall with a Fireplace. Take a chance and paint the room with Tony Taupe and one accent wall of Enduring Bronze.
Bedrooms are for relaxing and unwinding. Two good choices would be Interesting Aqua which has a blue hue or Dried Thyme.
The Kitchen will brighten with Hearts of Palm or Wheat Grass.
Take a chance and make the power color…red…accent your office to encourage productivity. A good choice would be Flower Pot.
The Bathrooms will look clean with Utterly Beige or Sensational Sand.
Hall areas and foyers will be fresh and inviting with Camelback or Sawdust (depending on the lighting)
Remember to accent those rooms with White Trim!

Hiring a Seller’s Agent

There are many Realtors and Realty companies to choose from so how can you be sure you are choosing what is best for you? Here are a few questions you should have handy when interviewing Realtors…
1. Are you experienced in my neighborhood?
2. How many transactions did you have in the year 2008? A Top Producing Realtor will have over 30.
3. How am I able to reach you? The answer should be by cell phone, via email and via text messaging. The agent should be able to view emails even while on the road. A technically savvy Realtor is very important.
4. Who will get the calls from potential buyers when they inquire about my house? The answer should be the listing agent; not a floor agent! After all you are hiring the listing agent.
5. What type of advertising do you offer? The agent should offer extensive internet advertising as that is where the majority of potential homebuyers begin their search. They should also be able to show you how they monitor those sites to be sure your home stands out from the rest.

Be sure that the Realtor is telling you the Truth and not what you want to hear. Be sure they provide you with “proof” of how they are determining your list price and ask for samples of their marketing. After all what would be the point of listing your home for $300,000 when the true market value is $250,000?

5 great reasons to list your home in January

If you have been considering listing your home but wanted to wait until after the Holiday Season, January if a good bet. Here are 5 good reasons…
Lack of competition; most sellers believe they should list their home in the Spring Market however when you list prior to that market you alleviate the completion;
The deadline for the new tax credit is April 30th! Buyers must be under contract by April 30th in order to take advantage of this credit therefore will be looking in January and February to secure their credit;
With the Holidays behind us buyers are back in the market full swing as they now can completely focus on their search for a home;
Rates are still low and if that continues through January (which it should) buyers will want to take advantage of those low rates;
After coming in from the cold weather outside buyers can feel warm in your home which provides an inviting atmosphere for them.

Make your home Irresistible

Make your home Irresistible!
When you are going on a first date I would hope you take the time to be sure your hair is perfect, your outfit is enticing, your personality is on its best behavior and you have a desirable aroma. All of this is true when selling your home.
Picture your home as going on a blind date and meeting someone for the very 1st time, in this case its potential new owner. Make sure it is desirable with warm colors throughout, make sure all the rough ends are smooth and its “personality” is on its best behavior by making all those small repairs you have been meaning to get to, be sure it has a pleasant and inviting aroma throughout by heating a few cinnamon sticks on the stove, lighting a few candles or baking a pie and/or cookies and remember not too strong, and make sure its outfit is clean and desirable with a Spring cleaning no matter what time of year it is. You don’t want your home to appear dark so light it up! Curb appeal is the first impression so don’t let it be sloppy! Paint that front door, add some colored pots to the front porch area with greens, pick up any clutter or trash.
Make sure your home gives the same type of first impression that you would on your blind date!

Buying a foreclosure

It takes patience to purchase one of these properties. In a foreclosure situation you are dealing with the bank and they sometimes take a while to respond, although lately they have been very good. Remember there will be addendums that have to be signed in addition to the normal Agreement of Sale. These addendums will state that the property is being sold in as-is condition, that the bank has no knowledge of the condition of the property and there is no seller’s property disclosure, they will want to charge a fee for every day the purchaser is late getting to settlement (although lately that fee has started to be waived as the new regulations state that if the HUD changes by 1/8 we have to go through underwriting again and the banks don’t want a further delay), and that the property has been winterized. Be sure to read through the addendums however nothing can be struck from these addendums so if you are purchasing a foreclosure be prepared to sign them. Although you can get a foreclosure for less than regular market value, it is not by much and many times these homes need renovation. A 203K FHA loan is a good alternative for someone who wants to purchase such a property but has little resources to do renovations as it is one of the few ways to get a renovation loan. However remember you cannot get an FHA loan if you have another mortgage in existence as the purpose of FHA is to get HOMEOWNER’S into a property and not investors. Again as stated many times before when you are purchasing a foreclosed property be sure that your Realtor is EXPERIENCED in this type of purchase.
Visit http://jenniferdaywalt.remax.com/default.aspx , click the tab U.S. Property Search on the left and then click the tab foreclosures. This will show you homes that have been taken by the bank. These homes are not necessarily on the market yet but will be coming onto the market if they are not sold at Auction. Contact me at Sellinghomesjenn@aol.com or directly at 610-999-7693 for more information on one of these homes or on information regarding foreclosures or any Real Estate Related question. If you are facing Foreclosure ACT IMMEDIATELY. Many times it can be avoided and you can leave with a profit. Call IMMEDIATELY if you are faced with this situation.

Seller Assist

We are seeing more and more seller assist written into agreement of sales. Seller Assist is when the seller pays some of the buyer’s closing costs. Normally this is done when the buyer does not have enough cash to close the deal. This is a way for a buyer to be able to close on a property without needing to come to settlement with a lot of money.
If a buyer is purchasing a home for 200,000 and their closing costs are going to be 15,000 and they have $8,000 for closing costs they will then ask the seller for the additional $7,000 as a seller assist. The seller then agrees or disagrees to provide that assist. In essence the buyer is offering the seller 193,000 for their property. Many times I am asked the question…Am I paying transfer tax on the $200,000 or the $193,000. Sellers and buyers are paying transfer tax on the $200,000 as that is the amount of the sale.
So perhaps you are purchasing a home and you want to offer $7,000 less than the asking price. It may work well for you to actually offer the full price minus an assist and keep more cash in your pocket if the seller is agreeable.
Remember with conventional mortgages you can only obtain a 3% seller’s assist (3% of the sales price) unless you are putting 20% or more down on the property. If you are purchasing with FHA financing you can obtain a 6% seller’s assist.
The advantages to sellers is if they are willing to entertain a seller’s assist they are making their home available to more buyers who would be perfectly willing to purchase their home with a little assistance.
Interest Rates 12/14/2009
4.875% - 30 Year Conventional Fixed – 20% Down
5% -30 Year Fixed – FHA Financing

Home Inspection Checklist

A home inspection is an important part of purchasing a home. The home inspector should be well qualified and it’s an added bonus if he/she prepares the report on site with a computer and provides you photos. It’s much easier to remember what you have gone through in the home inspection if you have an immediate report at your disposal. It also enables you to respond in a timely manner to the Seller.

The home inspector will check the major components of a home including the heating/AC system, roof, electrical and plumbing as well as the windows, appliances, water pressure and leakage. They will also inspect the basement, attic and garage. A good home inspector will spend at least 2 hours in a smaller home or condo and up to 4 hours in a larger home. They will answer questions you have and will walk you through the house explaining how different systems work.

This is the time to ask any questions you have regarding the home. Who better to ask then the home inspector who has now completed a thorough inspection of the home? No question is too small to ask during this time.

Remember an older home will have issues. This can even be true in newer homes. You truly should be on the lookout for major issues such as heaters not functioning, oil tanks leaking, air conditioning not functioning or a roof that is leaking. Smaller issues should not be your major concern as again all homes have some issues. Decide together with your Realtor and the Home Inspector which issues truly need to be addressed and present them to the Seller.

Don’t Panic - Stop the Foreclosure!

There are a few ways to do this! The first thing to do if you are in distress is to investigate, QUICKLY, which options are available to you. Realtors are on the front lines of this battle with foreclosures so it’s a good idea for any homeowner facing a hardship to meet with a Realtor Immediately to go over your options! The Realtor you reach out to should have experience with foreclosure and negotiating short sales with banks! A Realtor with experience will be able to show you the differences between a short sale and a foreclosure and why foreclosure is not your only option.
If you are behind in your payments or will be in the near future it will be in your best interest to consult with an experienced Realtor in your area who can successfully negotiate with the bank for you. Time is of the essence so be sure not to wait until it is too late. Many times a Realtor can negotiate with the bank so that you can avoid a foreclosure.
Do not become frustrated and lose hope…let an expert deal with the bank for you. If you feel your home is in complete disrepair there are buyers who are purchasing these properties!
Visit www.JenniferDaywalt.com and get information on listings that are available or send an email to Sellinghomesjenn@aol.com to have all of your foreclosure/short sale questions answered confidentially!

What are Purchaser’s Waiting For?

I’ve heard it many times…I’m waiting for the right time to purchase a home. What constitutes the right time? Well I suppose it depends on your wants and needs. If you are purchasing properties as an investment then taking a chance on market conditions is what you do. You take the gamble that the market will continue in a downward swirl and that the rates will remain low. That’s ok for investors as they do not have to purchase a home in order to live there.
However if you are looking for your home taking that gamble can cost you in the end. I sometimes wonder what buyers are waiting for? The rates are great, homes are on sale and there is a tax credit available not only to first time home buyers but to all buyers! (There are restrictions). Will these above situations continue? We know the tax credit ends next year, which is only a few days away everyone! You must be under contract by April 30th, 2010 to take advantage. The housing sale may last in some areas but I can tell you we are already watching market values rise in our particular area. Chances are next year they will continue to move higher. Interest rates are great right now and no one knows where they will be in the coming months.
No one has a crystal ball. However taking into account the current market values, the great interest rates and the opportunity to obtain a tax credit now is a great time to purchase. Don’t miss your opportunity you may be regretting it later. Remember as quickly as the media began reporting the turmoil in the Real Estate World is just as quick as they can start reporting a rebound. Don’t miss your opportunity to be a homeowner due to making a decision at the perfect time…this may very well be the perfect time!

To Buyer's Agent or Not

Why secure a buyer’s agent? The question truly should be why not! It cost you absolutely nothing to have full representation in the purchase of a home. Where else can you get complimentary representation? I’ve heard the oppositions reasoning…we don’t want to commit to one agent; we may be able to get a better deal if we work directly with the seller’s agent; we want to do this by ourselves and don’t need representation. Let’s look at these opposing views…
We don’t want to commit to one agent…perhaps it is the belief that you may not get along well with the agent you choose; you don’t want to sign a contract with any one person. A great way to avoid this situation is to interview various agents. Take the time to ask the questions that you have. Is the Realtor you interview open to answering your questions? Does he/she respond to your phone calls and/or emails? Are they technically savvy? Are they reachable via cell phone and email? Are they experienced in the area you are searching? If you take the time to ask these questions and observe the way the agent responds to you…the decision should be an easy one. The agent you choose to represent you should be very experienced in the area you are searching, they should be a top producing Realtor.
Securing a better deal when working with the Seller’s Agent…unlikely. First remember that the agent is working for the seller or may become a Dual Agent representing both parties interest. A little conflicting don’t you agree? The Selling agent has already established the negotiable items with the listing agreement such as commission. The negotiating of the commission is not between you, the buyer, but between the seller and the Agent. So perhaps it truly is better to look for that expert representation that you can have all to yourself!
We don’t need representation and want to do it by ourselves…why? I know that I would not enter a courtroom without an Attorney. I would not take medication without a doctor’s advice. I would not make an investment without a financial planner. The reason? It’s not that I don’t know alittle about all of these situations it’s that I do not know enough! I may dabble here and there in certain situations but when it comes to the difficult, life altering choices I prefer to have an expert who has dealt with the situation time and time again. There are always bound to be surprises and then what will you do?
So do yourself a favor and secure your very own Buyer’s Agent. They are experienced, they are complimentary and they are ready to work for you!