St. Louis real estate tips
The first impression really does count with potential home buyers. If your St Louis home is lacking basic curb appeal or is not sparkling inside, you could lose a potential buyer’s interest immediately – and never get it back! Here are some tips to avoid losing a potential buyer:
- Flowers, flowers, flowers. Nothing welcomes a potential buyer more to a home than colorful flowers.
- Keep walkways clear, trimmed and weeded.
- Patios must be power-washed.
- Windows should be sparkling.
- Dust everywhere. Even the baseboards.
- Since potential buyers look everywhere, make sure underneath your sinks and closets are clean, clutter-free and odor-free.
- Remove all personal items such as framed photos, awards and collectibles. Buyers need to be able to imagine the space as theirs.
- Paint any room that is a bright color, a neutral color.
- Remove any worn or outdated furniture.
- Repair any chipped or smudged paint, broken fixtures or squeaky doors.
- Toss worn carpets.
- Consider replacing dated hardware.
For more information about home staging go to Home Staging Information.
Category : Home Buyer and Seller Tips &Sellers
St. Louis Homeowners having financial difficulties and in fear of losing their homes to foreclosure could be helped by the newest addition to the government’s housing-rescue plan. It entails a standard process and incentives for a St. Louis short sale. It will simplify the process for borrowers to transfer ownership of their home to the mortgage company through a “deed in lieu” of foreclosure. This will benefit the buyer because they avoid “foreclosure” and it will benefit the lender because they will avoid the high foreclosure expenses and large amount of time it takes to complete the process. This year, short sales have increased to 20% of all home sales. Compared to foreclosure, a short sale is less costly to the lender, but for the buyer it must be approved and can take up to four months to complete. The government plans to pay mortgage-servicing companies up to $1,000 and borrowers up to $1,500 for completed short sales and “deed in lieu” of foreclosure. These incentives will help make the process go faster.
For more information on the government housing-rescue plan see USA Today for common questions.
Category : Home Buyer and Seller Tips
If you currently are in a situation where you must sell your home and you owe more on your home than what it is worth to sell, a short sale can be a very good solution to your problem. Many myths have evolved over time, but understanding today’s reality is a way to help yourself. Seven short sale myths are:
- Short sales are impossible and never get approved. It is true that short sales are more difficult but they are not impossible. A Certified Distressed Property Expert has extensive training to help homeowners in distress.
- Banks Don’t Accept Short Sales. In reality, banks are doing whatever they can to avoid a foreclosure.
- You must be behind on your mortgage to negotiate a short sale. Many lenders today focus on verifiable hardship, monthly cash flow shortfall and insolvency – not just people in default.
- Buyers Avoid Short Sales. Many agents report that buyers call them looking for short sales. Short sales are becoming synonymous with a “good deal”, specifically with international buyers.
- Listing your home as a short sale is embarrassing. Recent estimates state that 1 out of 5 homeowners in the U.S. is in this situation. You are not alone!
- Banks prefer to foreclose. Banks do NOT want to foreclose. Banks, investors and the federal government have all publicly stated that if a person qualifies for a short sale, then the deal needs to be considered.
- There is not enough time to negotiate a short sale before my foreclosure. Many lenders today will stall a foreclosure up to the final day of the process, with a legitimate contract.
Category : Home Buyer and Seller Tips &Lenders in St. Louis &Moving to/from St. Louis &Short Sales in St. Louis &St. Louis Foreclosures
Today many St. Louis homeowners are interested in Short Sales as a way to avoid Foreclosure. If you are interested in knowing more about a somewhat complicated transaction, here are the three very uncomplicated things lenders look for when qualifying a short sale:
- Financial Hardship: This is defined as a verifiable reason that has or will cause you to miss a payment. Examples that qualify are mortgage payment adjustment, a job loss, too much debt or a business failure.
- Monthly Shortfall: Lenders want to see that you cannot afford to pay your mortgage. You will be required to provide your agent a financial worksheet that demonstrates this. The shortfall equation is simple. Total Monthly Income – Total Monthly Expense = Monthly Shortfall.
- Insolvency: You must be able to prove to the lender that you owe more than you have in cash. Insolvency can be proven in many cases, even though you may still have some money for living expenses.
For more information about Short Sales see About.com.
Please visit my St. Louis home guide website or call Russell Nolting at 314 267 2636.
Category : Home Buyer and Seller Tips &Short Sales in St. Louis &St. Louis Real Estate Sales Statistics
Putting your house on the market is always a challenge in that you must look for ways to make it the most appealing it can be to potential buyers. Beyond the tried and true rules of emptying closets and keeping all rooms tidy and clean, here are some things you may not have thought of that can have major impact during a showing or open house. By the way, hiring a professional home stager almost always is a great investment.
- If you have a small room in your home that you would like to appear more spacious, paint it the same color as the room it is attached to. This will convey a more seamless, spacious feel. Another trick to convey spaciousness is to keep all window treatments in small rooms the same shade as the walls.
- Paint your sun room an attractive shade of green. It really does help to bring the outside in!
- If you have a narrow room, add wall shelving. This gives the space depth, without crowding out occupants.
- If you are upgrading to sell, choose Eco-friendly materials. Buyers are showing more interest in homes with these materials. For example, consider cost-efficient and “green” cork flooring instead of hardwoods.
- Consider breaking up a finished basement into “zones”. For example, furnish one area for reading, another area for a bar, one for games, one for a workspace with a desk and another for lounging in front of the television.
- If your kitchen is outdated and you do not want to renovate, replacing old appliances is highly suggested. Studies show that sellers recoup every penny spent on new appliances!
Category : "Green" Living &Home Buyer and Seller Tips &Sellers &St. Louis Real Estate Sales Statistics
Some key points on Obama’s foreclosure-prevention plan:
- Loan terms may be modified by reducing payments for distressed borrowers
- Refinancing for those current on payments, but have little or no equity in their home
- Plan starts right away and is strictly for primary residences that are not vacant or condemned
- Call your loan servicer for help to see if you qualify
- There are no fees for this type of loan modification
- To be eligible, your loan must be owned or guaranteed by a government-backed mortgage company such as Fannie Mae or Freddie Mac
- Modification plan ends on December 31st of 2012
- Loans can be modified one time only
More information is available at financialstability.gov
You can also visit my St. Louis Real Estate Listings resource, or call me at 314 267 2636.
Russell
Category : Foreclosure &Home Buyer and Seller Tips
Not only is bamboo beautiful to look at, but it is one of the most sustainable materials out there. Other harvested hardwoods are clear-cut and then need another thirty years before harvesting again. Bamboo is a fast-growing grass and is used for so many things that when the last part of a stand of bamboo is harvested, it’s very likely that the first part has already recovered. In other words, it is almost impossible to deplete bamboo’s availability. When bamboo is used for flooring it is sliced, pressed, molded and then carbonized. Carbonization is when the bamboo is exposed to heat so that it will harden.
Bamboo flooring comes in traditional plank styles and is installed similarly to traditional hardwood flooring. It is made with a tongue and groove, an underlayment is set down and then the fitted pieces are tacked down with a nail gun. Bamboo flooring maintenance is almost identical to other hardwood flooring, except that water should be removed as quickly as possible as bamboo’s fibers will expand more easily. Simple sweeping and mopping with a gentle cleanser will be enough to keep it looking clean and beautiful. Avoid getting gashes in the wood as bamboo is more difficult to buff or fill in than hardwood flooring.
For more tips, visit my St. Louis home guide website. Or call me at 314 267 2636.
Category : "Green" Living &Home Buyer and Seller Tips
Last month, we discussed which home improvement projects have the most “bang for your buck.” Kitchens are a place where most homeowners are willing to spend some money. But, what if the budget’s tight? Most kitchens can benefit from even just one or two small changes, simply to make it look fresh again. Here are some ways that you can do this in a very cost-effective manner:
- Update Small Appliances – Keep all of your counter top appliances such as your coffeemaker, toaster and blender all in the same finish. Coordinating these very visible things really makes a big difference in the orderliness of your kitchen’s look.
- Window treatments – Don’t forget to add or update the treatments on your kitchen’s windows as they really can pull the whole design of your kitchen together, as well as add shade or privacy when needed.
- Lighting Fixtures – Get rid of that tired old 1980’s ceiling fixture in exchange for a pretty chandelier or a row of chic pendants, and try not to smile every time you enter your “new” kitchen!
- New Counter tops – Instead of an entire renovation, consider replacing just one thing. Your counter tops. You will be amazed at the variety of what is available now and at the incredible range of prices too. Counter tops remain one of the few things that will actually help sell a home.
- Paint – Whether you really need to or not, who doesn’t love the look of freshly painted walls in a new color?
- Under-Cabinet Lights – Easy to install puck lights are the way to go on this one.
- Sink Faucet – So many beautiful models to choose from and most of the new models can save you money on water and energy costs to boot.
- Cabinet Hardware – Changing cabinet hardware just so happens to be the easiest way to update your kitchen. Imagine simple nickel cabinet pulls in place of the dated ceramic ones you currently have. See what I mean?
Category : Home Buyer and Seller Tips &Real Estate Sales in St. Louis
Recent data is showing that homes being built today are smaller than they were in the beginning of 2008. In the third quarter of 2008 median home size was 2,090 square feet, down from 2,629 square feet in the second quarter of 2008. With housing prices dropping and the economy weakening, homeowners may be looking at homes with less unused space, more energy efficiency and a home that better fits their overall needs. There is more of an interest in economizing space and making one room of the home a more flexible space that can be used for a myriad of activities. Outdoor kitchens and entertaining areas are becoming more popular as square footage decreases. See our past posts about St. Louis home design.
Research shows that builders are paying very close attention to what buyers want. The National Association of Home Builders is reporting that 88% of homebuilders surveyed plan to build more smaller homes, and that 89% of homebuilders surveyed claim that they plan to build lower-priced homes.
For more information, please visit our Home Guide St. Louis site, or call Russell Nolting at 314 267 2636.
Category : Home Buyer and Seller Tips
For anyone facing a foreclosure life can become extremely stressful, as there are so many new issues that you will be faced with. In this time of change and uncertainty, there are actually people out there that are preying on others going into foreclosure. Scam artists are coming out of the woodwork and are offering homeowners facing foreclosure a “deal” to renegotiate their loans for a fee. What people need to know is that in many states it is illegal for a person to ask homeowners for an upfront payment to renegotiate a mortgage – unless the Department of Real Estate holds record of them meeting license and registration requirements. You can verify this information and also check to make sure that your real estate broker and attorneys have valid licenses at www.dre.ca.gov.
Always be skeptical and remember to never give anyone money in advance of any services they are offering. There are many non-profit groups that offer legal aid for free of charge to homeowners that are having trouble making their monthly payments. See more information at this avoiding mortgage foreclosure website.
For more information, check out your Home Guide St. Louis. Or call Russ at 314-267-2636.
Category : Foreclosure &Home Buyer and Seller Tips
In the market for new carpet for your St. Louis home? If you are interested in carpeting your St. Louis home or just specific areas in your home, it pays to know what is available and what will work best for your home before you go to the store. This way you can narrow down your search and save time, as there are nearly limitless choices when it comes to carpeting. Before we list carpet types and their attributes, be aware that carpeting your stairway will generally cost between six and nine dollars per step. If you prefer a carpet runner, this cost will be significantly higher. In regards to padding, it does extend the life of your carpeting and increases the overall comfort factor. It is completely worth the investment! Always replace your old padding with a new one, because carpeting manufacturers will not honor their warranty with an old pad underneath their new carpeting.
- Plush/Cut-Pile Carpet – Saxony plush is very popular because it is soft with short tufts. It does not wear as well as berber or other high level loop carpets.
- Berber – Has a high-level loop with a nubby texture. It wears very well, although is harder to clean.
- Wool – The most expensive type, but it is comfortable, durable and resistant to dirt. Direct sunlight can fade it.
- Synthetic fiber – It is made of artificial materials. Mostly made of nylon, it is cheaper than wool and is durable. Sunlight can damage it.
- Olefin – Cheap, but less durable than nylon. It is pre-treated to resist fading, but can be damaged by heat and sun. It is a very good choice for basements.
- Acrylics – More expensive than nylon, but more closely resembles wool and it resists fading.
- Sisal – A natural fiber derived from the cactus plant. It is very strong and durable, but is extremely rough in texture.
Category : Home Buyer and Seller Tips
Home improvement projects are important for our quality of life in St. Louis. But many homeowners today are concerned about the quality of air in their homes, since we spend so much time indoors. Here are some ways that you can achieve superior air quality while improving your family’s respiratory health. This is what you can do, moving from room to room.
- Basement: Since the furnace is in this space, you must have it inspected and cleaned yearly to avoid leakage of dangerous gases. Also, many basements can be damp and therefore may grow mold. You must make sure your gutters are doing their job of keeping water runoff away from your home. Installing a dehumidifier or air conditioner can keep even the most moist basement dry.
- Garage: Install a weatherproof door between this room and the rest of your home. It will keep gasoline odors where they belong. Your lungs will thank you.
- Kitchen: If you have a gas range, you must have a hood fan that exhausts outdoor air. Turning on that fan, or simply opening a window while cooking will remove gas fumes. All fuel burning appliances must be professionally inspected yearly to prevent possible carbon monoxide poisoning.
- Family/Living Room: Dust accumulation can be simply eliminated with the reduction of clutter. Keeping toys, books and other items nicely stored away in closets is the way to go.
- Bedrooms: Vacuum, vacuum, vacuum. Dust mites and allergens are also greatly reduced by washing bedding in hot water. Choose area rugs that are easy to wash.
- Bathrooms: Ventilation is so important in this well-used room. Exhaust fans work to remove moisture and chemicals that you clean with. Change your cleaning products to ones that have no pesticides or toxic ingredients. See www.grist.org for a list of green bathroom cleaners.
- Attic: Have your duct work inspected if it runs through an uninsulated attic. Why? Because humid air condenses and can cause mold and rust. Consider having your attic insulated.
Throughout your home always leave doors between rooms open for better air circulation. Opening windows from time to time is a no-brainer, but some forget to do it. For St. Louis Real Estate information, visit http://www.HomeGuideStLouis.com.
Category : Home Buyer and Seller Tips &Real Estate Sales in St. Louis
