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Living Areas – What Buyers Look For When Shopping for a Home

October 1st, 2010

When you are trying to sell a home, especially one you currently reside in, it is important that you create a sense of appeal to your prospective buyers. Buyers are looking for very specific things in a home. However, they will also ?pick up? on a lot of things, even subconsciously, about a prospective home. It is your duty to make sure that all the ?feelings? they get about your home are good.

First, make sure the home is not cluttered. Even though you are living in the home, giving it the appearance of being a showcase home and not a lived in one will help make the sale. Make sure that all personal belongings are out of sight before a showing. You want it to look as magazine perfect as possible. You do not want to create a feeling in your buyer that they must ?straighten things up?.

Next, if there are any painting, repairs or anything else that needs to be done get them done. You never want to give off the appearance that the home is a work in progress. While it is true that the new owners will come in and paint and change everything, they do not want to ?feel? that they have too.

Another thing to consider is baking an apple pie about an hour before the buyers arrive. The smell of an apple pie wafting through the living areas will make the home more appealing. This has been tried with different scents, but real apple pie always does the trick.

Finally, make sure everything is accessible and unobstructed. Potential buyers become nervous when they see boxes stacked against a wall. Many relate this not to the fact that you are getting ready to move but that you have something to hide. Feel free to show them everything, including in your cupboards and under your sinks. When you provide enough access they feel secure with the purchase.

Simple tricks like these will help you make the selling of your home a fast and easy process.

What is Homeowners Insurance and Do I Need It?

September 24th, 2010

photo credit: Ruth L

Homeowners insurance is recommended for any one who is considering purchasing or leasing a home or anyone who has a mortgage or considering a mortgage. This insurance works like any other insurance, it protects your investment. Insurance companies make it as easy as possible for homeowners to acquire affordable insurance for their home and property. Mortgage lenders depend on homeowners insurance to protect their interests. If a homeowner defaults on mortgage payments the insurance protects the lender’s investment. Previous insurance companies are the best source of information and will generally give discounts if customers purchase more than one product from their company. Real estate agents are also a great source of information when seeking to acquire homeowners insurance. They have insight into the latest laws and rules concerning homeowner?s investments, insurance and other valuable protection that individuals need.

It is wise for homeowners to talk to several insurance companies before they make a final decision. It is relevant to the insurer to purchase the right kind of insurance at the right price. Not having enough insurance can be devastating in times of emergency disasters. Injuries happen everyday and if someone is injured on personal property belonging to the insurer he or she can be sued, by the injured party or / and their representative. Homeowners insurance protects not only the insurer but others as well.

How much insurance coverage the homeowner needs can be easily calculated into several factors. Making a analysis of how much the home is worth (value) and how much it will cost to replace or rebuild, is essential when seeking to purchase homeowners insurance. Not being properly insured is the same as being under insured. If a $150, 000 house and it contents is destroyed by fire and the insurer only has$100,000 worth of insurance the insurer would have to pay the remainder of the house’s value and replace the contents, all out of pocket. By having the proper amount of insurance this scenario would only be a scenario. Homeowners are encouraged to protect their investment by insuring their property and contents for what they are worth.

Bedrooms – What Buyers Look For When Shopping for a Home

September 20th, 2010

photo credit: Juan ValldeRuten.

When people are in the market for a house, they are not going to settle on just anything. Some people want more or less in a house, but most importantly they want their perfect house. Most people have bought a house or gone house shopping at some time in their lives, and you know it is not an easy decision. You will be living in the house you buy for at least a couple of years. Bedrooms are very important rooms in everyone’s home. This is the room you go to relax in and it must be perfect.

The first thing people look for in a bedroom is the size. Many people like to have a good sized room so they can fit all of their previous furniture or more in there. Most people want a nice big bed along with a TV, dresser, etc to fit in the room without it being too closed in. The closet is very important too! Who doesn’t want plenty of room to put at of their clothes and shoes in? Walk-in closets are great, especially for someone with a large wardrobe.

The extra features in the bedroom are important as well. Some people like to have carpeting, others like hard wood flooring, but that is really a personal preference. Having a bathroom within the bedroom if it is a master bedroom is something everyone looks for. It is just much nicer to have your own personal bathroom, rather than sharing it with your kids or someone else. Just like people want spacious bedrooms, many like to have bigger bathrooms. Lots of people want a bathroom that is sleek, clean, and updated. Having two sinks and a tub is a great feature.

Many people want to wake up in the morning and look out their bedroom window to see a beautiful view. Everyone has different tastes in what they think is a nice view. Some love to see a great big mountain, others just like a nice landscaped backyard. But, whether you are in the city, or out in the country, just make sure your window is not outside of a busy or noisy street.

Kitchens – What Buyers Look For When Shopping for a Home

September 15th, 2010

photo credit: thekitchendesigner.org

Buying a home in today’s economy can be somewhat of a challenge so you definitely want to get your money’s worth when you decide to purchase a home. Many first time buyers as well as those who are in the market for a second home are looking for specific features. Kitchens are often the main focus when buyers shop for a home. Today’s modern home offer’s a open floor plan which is a highly attractive feature to home buyers. This allows a natural flow from the kitchen to the living space.

Often buyers would like for the kitchen to have beautiful cabinentry and stainless steel appliances. Stainless steel appliances and cabinents that offer maximum storage are very attractive features in a kitchen and are on the top of the list for many home buyers. Lack of cabinent storage in a kitchen can definitely be a reason for a buyer to pass on a home. Another major kitchen feature that a buyer may look for when shopping for a home is the flooring. Nice hardwood flooring is always a great feature for those looking to purchase a home.

Hardwood flooring that is functional can add beauty and value to a home. Granite countertops are a popular request for a kitchen as well. Many potential buyers request that the kitchen have granite countertops. Granite countertops not only adds beautiful and class to a kitchen, but are also highly functional. Other requests from potiential home buyers is that the kitchen have an island. An island in the kitchen gives you an additional place for food preparation and entertainment.

There are a variety of things that a buyer looks for when shopping for a home, however none is as important as space. A modern kitchen must have an adequate amount of space to move around comfortably in and entertain friends and familiy. The kitchen is often the main gathering place, therefore space is the number one requirement for a home buyer.

Buyers Often Look For A Neat & Well Maintained Landscape When Looking For A New Home

September 8th, 2010

photo credit: citta-vita

One of the most important aspects of a home that potential buyers examine is landscaping and curb appeal. A neat and well-manicured appearance can gather extra looks and showings, just from the quality of the landscaping. Prospective buyers will generally perform a ?drive by? before deciding to make a formal appointment the view the house. This fact only underscores the importance that the yard and landscape look great from all sides of the house. Plus, a great and well-kept yard can actually add some value to the property as well. Therefore it makes perfect sense to examine the property from the street or curb to inspect and scrutinize the view.

While homeowners can grow accustomed to imperfections over the years of ownership, buyers generally want everything pristine. Mold and mildew should be removed from sidewalks and retaining walls, flowerbeds should be neatly planted, trees should be cut back, and shrubs should be well trimmed. Any overgrowth of vegetation should be taken care, that means grass should be kept at a respectable level. The back of the house and sides of the house need to be as well kept as the front. While they likely do not need to be visually astounding, buyers like a neat and orderly appearance free of eyesores and potential hard work. While some owners go the extra step and hire a consultant to answer any landscaping related questions, many homeowners are well equipped to handle the task on their own.

A quality landscape compliments the house. The gentle curves and slopes of the planting beds often enhance the visual lines that are present in the house. One area that has recently crept into popularity among buyers is nighttime curb appeal. The arrival of affordable low voltage lighting and solar powered lighting has allowed landscapes to come alive with light during darkness. While some properties handle dramatic lighting effects better than others, a well lighted sidewalk and a few lights around the property are usually enough to create some terrific visual effects. The landscape is the first thing potential buyers see when arriving at the property, and it really does set the tone for rest of the visit.

What is Flood Insurance and Do I Need it?

August 20th, 2010

photo credit: suburbanbloke

Flood insurance is a type of insurance that isn’t usually included in rental or home owners insurance. Many times when you rent or buy it is not included in basic insurance.

Most insurance companies offer flood insurance as an additional cost or protection. Some companies offer it to you without an additional cost, but you have to request to have the coverage added on.

Many people don’t understand why they need insurance think they don’t need it. The truth is everyone should have flood insurance regardless if they are renting, leasing or buying. At any time a down pour of rain or a storm could occur and cause damage to all of your furnishings inside your home. Even if you live near the mountains and don’t get much rain fall if a heat wave comes through it can melt the snow on the mountain and flood your home. There have also been many cases when a hurricane decides to turn and hit inland further than expected. You might think you are safe but at anytime the weather can change and you can get flooded.

Basic flood insurance covers up to $20,000 dollars in damage. You can upgrade to a higher amount for an extra cost. If you feel you have more than that in property in the home than it is a good idea to upgrade to a higher amount.

Relying just on federal aid won’t be enough neither. They are limited on what each family will get. They are also limited on the number of families or homes they can cover. They will only cover a certain amount, or just the ones that are out of a home completely.

Flood insurance is actually more affordable than many people think. The price will vary on your location, and age of your home. Different insurance companies will give you different quotes. Go with the one that offers the most with the best deal. Many times your home owners insurance company will give you a discount if you add on the flood insurance. In this case it is better to be safe than sorry, because once you get flooded it might be too late to add it on.

What is Title Insurance and Do I Need It?

July 21st, 2010

photo credit: kevindooley

The simple purpose of Title Insurance is to ensure that all changes of building ownership as well as the property it sits on have been legally executed and propertly documented. Once Title Insurance has been granted to a property owner, the fees for any legal issues that may arise at a later date in regards to the property will be covered.

In the United States, anyone with a mortgage is required to purchase Title Insurance for an amount equal to the mortgage. The insurance can be canceled when the loan has been repaid in full or the propety is sold. A Title search is peformed by a title company and the issued insurance protects the lender, not the owner, in cases where a problem with the title was missed or overlooked. Strangely, this may be the only type of insurance that provides coverage for events in the past and not the future. Title coverage is effective beginning on the day it is purchased and ensures that all prior property sales were legitimate where as other types of common insurance provide indemnity for events that may possibly occur in the future.

In the event that Title Insurance is issued and a claim later arises, the property owner will need to work with the insurance company as best they can. While unresolved claims prevent the property owner from entering into any sales agreement regarding the property, the title company will want to take time to investigate the claim and pay out as little money in settlement costs as possible. This process of determining settlement terms, especially those that are questionable, can be quite lengthy and create the potential for a long-term burden on the property owner. For this reason, working with a reputable title company is imperative for all property owners.

The cost of mandatory Title Insurance can vary greatly and a homeowner has the option of shopping around for Title Insurance if costs in their area are high but most borrowers rely on a trusted real estate agent to provide guidance on choosing a reasonably priced and professional title insurance company.

4 Ways to Keep Your Tenants Happy

March 8th, 2010

Keeping tenants is much more profitable than finding new tenants so the key to being a prosperous landlord who doesn’t have added troubles and work is to keep your tenants happy. The following four tips can help you keep your tenants in your property and insure everyone’s happiness.

Business Attitude

Treat your tenants with professional respect. Don’t gossip with tenants or become their buddy but treat them with respect, a polite demeanor and take them seriously. Let them know that you will listen to their complaints in an even and fair manner and treat no one with favoritism.

Be Available

Whether it’s you, a manager, or a property management company, someone always needs to be available to deal with tenant issues. Some of these issues will be emergencies and others can be handled later, but no matter what your tenant will want to be heard. Taking initiative and routinely contacting your tenants through a phone call, email, letter, or in person will go even further to let them know they matter.

Safety First

Always put your tenants’ safety first and don’t be afraid to let them know this. Let them know when safety related repairs are being made or if you’re taking steps to prevent break ins and theft.

Additional Conveniences

Whenever possible, give your tenants those little extras. Bus tickets, group discounts, a picnic table, new landscaping or any little thing that you can provide that will be appreciated by most of your tenants. If they feel respected and like you care they’re more likely to treat you with respect and hold up their end of the agreement.

Tips for Good Property Management

March 1st, 2010

It’s time to turn over a new leaf with your property management skills and get things in order and running smoothly.

Screen Everyone

Make it a policy to screen every single person who wishes to be a tenant of your property. Use the same thorough procedures for each one and you’ll get great tenants and avoid future lawsuits.

Security Deposit Policy

Establish a fair security deposit policy that fits within all local guidelines and is timely and then stick to that policy fastidiously.

Written Record

Get in the habit of writing everything down and keeping written records. When dealing with others, try to get them to sign all documents as well.

Make Maintenance a Priority

Stay ahead of repairs and maintenance and respond promptly to any tenant notifications. Handling these issues promptly will keep tenants happy and may prevent costly replacements or major repairs.

Be Available

Be promptly available to tenants and employees whenever they have an issue to bring up. Let people know you care about them and your property and you’ll receive equal respect.

Security Priority

Make security a priority and do the big and little things that make tenants feel safer, deter criminals and makes your property more desirable to the public.

Questions to Ask a Property Manager

February 24th, 2010

If you’re considering using a property manager you’re relinquishing some of your regular property responsibilities but you’re also removing yourself from your investment so you want to make sure it’s in good hands. Use the following questions to screen property managers before hiring them.

Experience

What is their experience level, not only how long have they been in the business but what types of properties have they managed and what services have they provided?

Work Load

It’s important to know what kinds of duties they are willing to perform but also how many other properties they’re managing concurrently.

Professional Credentials

Anyone can be a property manager but there are organizations that offer professional credentials, continuing education and support systems, most landlords prefer someone with a professional group affiliation.

Who Will be Managing

Many property management systems are large companies and the person you speak with often won’t be the one doing the management. Find out who will be doing the work and make a point to meet them and speak with them directly.

Established Policies

Learn the property management company’s established procedures and see if they jive with yours. If there need to be concessions either way, make sure they’re in writing.

Your Responsibilities

Learn what will still be expected of you as the property owner. Some property management companies prefer the owner being hands off, others still require a lot of contact and effort from the owner.