Decluttering and a good cleaning are givens when selling a home, but the owner can increase the probability of a sale by using staging techniques. Staging helps a seller think like a buyer. Embracing this perspective early on will help prepare the home for the market. Small staging changes can make the biggest difference in the sales price and time on the market.
Make a Difference and Set Your Home Apart from the Crowd
To sell a home in this market, homeowners must compete in two areas–visual appeal and pricing, which is 80% of selling a property. While the price is the first lure, how well the home looks is the clincher.
Here’s where home staging plays a pivotal role. The technique highlights the home’s positive features and downplays the problem areas. Sellers have the opportunity showcase a home that welcomes a potential buyer into a space they can see as their own.
Set the Stage
While a seller can hire a professional stager, a lot of small-scale changes can help the process along. Here are some home staging tips that any seller can do personally.
Paint–Neutral colors that leave the buyer room for imagination are standard, but that doesn’t mean boring works. Earth-toned palettes, such as grey, sage, soft yellow, spa blue and beige warm a home and give the potential buyer a sense of well-being.
Give rooms a purpose–Even if the seller is comfortable with the computer in the dining room, the buyer needs to see a dining room table, not a nest of cables. Each room should be staged to reflect a specific purpose. Even a space that seemly don’t have a purpose can be set up as a cozy reading area with a chair, lamp and side table.
Furniture arrangement–The point is to open up visual space and create conversation areas that feel light and airy. A good rule of thumb is to remove two pieces of furniture, especially if they are oversized, and move the remaining furniture away from the walls.
Bedroom oasis–The bedroom should be an inviting focal point with upscale bedding in simple patterns. Include throws, pillow shams and a comforter folded at the end of the bed. A small sitting area with a cozy chair and reading lamp will also welcome a buyer.
Expert help
Real estate agents who value staging as the ramp to the sale will make all the difference. Choose an agent who can see the home as a buyer would, and who will offer the best advice for a seller to be competitive in today’s market.
Monday, August 16, 2010
Monday, August 9, 2010
With a plan and a dose of flexibility you can find the right house for now and the future
Even if it doesn’t have everything you want now, good financial planning will help
Is now the right time to buy your first or next home? With interest rates low, prices at a fair level and many choices out there, the temptation is to jump into the real estate market. The question is how to decide what you can afford, what features are a must, and what would be great but not a necessity.
Affordability
Even before you make a list of what you want and where you want it, the first consideration is: can you afford it? That’s non-negotiable. Consider long-term expenses, not just the up-front incentives that can dazzle a buyer. Over extending a budget for a few glitzy perks is a disaster in the making. The standard in financial planning is to spend no more than 35% of your pretax income on the mortgage, insurance and home insurance. You’ll also want to pay at least 20 percent down on the property and get a fixed-rate loan so you know exactly what your monthly payments will be.
The list
Here’s where you will detail, on paper, the type of home you want and the location. Be realistic about the positive and negative features and consider the long-term consequences of each feature. Think ahead. Don’t just buy a home for now, but consider the future. Resale value is an important factor, style can be an issue, plus room for children (and schools) and physical needs for aging parents who may move in.
Flexibility
Consider your purchase as a long-term investment, not a short-term gain. Now you have time to choose what you absolutely cannot do without, and what features are flexible. Most buyers won’t find everything they want at a price they can pay. So, if a swimming pool is on your list but the property you like doesn’t have one, putting a pool in is a goal for the future. Ditto for cosmetic things like countertops, bathroom spas and landscaping. While you may not have these up front by choosing a home with a mortgage you can manage, you’ll have the financial flexibility in the future.
With an organized home buying plan, you can minimize a great deal of the emotional impact. By determining your buying power, your wants and needs, and having an organized search plan, your chances of a stress-free experience are much better.
Is now the right time to buy your first or next home? With interest rates low, prices at a fair level and many choices out there, the temptation is to jump into the real estate market. The question is how to decide what you can afford, what features are a must, and what would be great but not a necessity.
Affordability
Even before you make a list of what you want and where you want it, the first consideration is: can you afford it? That’s non-negotiable. Consider long-term expenses, not just the up-front incentives that can dazzle a buyer. Over extending a budget for a few glitzy perks is a disaster in the making. The standard in financial planning is to spend no more than 35% of your pretax income on the mortgage, insurance and home insurance. You’ll also want to pay at least 20 percent down on the property and get a fixed-rate loan so you know exactly what your monthly payments will be.
The list
Here’s where you will detail, on paper, the type of home you want and the location. Be realistic about the positive and negative features and consider the long-term consequences of each feature. Think ahead. Don’t just buy a home for now, but consider the future. Resale value is an important factor, style can be an issue, plus room for children (and schools) and physical needs for aging parents who may move in.
Flexibility
Consider your purchase as a long-term investment, not a short-term gain. Now you have time to choose what you absolutely cannot do without, and what features are flexible. Most buyers won’t find everything they want at a price they can pay. So, if a swimming pool is on your list but the property you like doesn’t have one, putting a pool in is a goal for the future. Ditto for cosmetic things like countertops, bathroom spas and landscaping. While you may not have these up front by choosing a home with a mortgage you can manage, you’ll have the financial flexibility in the future.
With an organized home buying plan, you can minimize a great deal of the emotional impact. By determining your buying power, your wants and needs, and having an organized search plan, your chances of a stress-free experience are much better.
Monday, August 2, 2010
HOPE real estate tax incentive still alive for potential buyers
The Missouri state program offers up to $1,750 in combined tax, energy efficient improvements for new homeowners.
The Missouri Housing Development Commission is still offering up to a $1,250 credit in real estate tax benefits for qualified buyers through the Home Ownership Purchase Enhancement (HOPE) program. Earlier this year the commission set aside $15 million to encourage home ownership, but it seems potential buyers have been slow on the uptake. Only $1.2 million has been issued, and that with the deadline drawing near.
To qualify, the home must be purchased between January 1, 2010, and August 31, 2010. The HOPE application must be received by the MHDC no later than September 30 of this year. There is also an income limit–up to $95,060 in the St. Louis metro region. First-time and repeat buyers are eligible for the program.
Homebuyers who are approved for the real estate property tax HOPE incentive may also be eligible to receive an additional amount if they bought a qualified newly constructed energy efficient home or bought an existing home and remodeled or purchased items, such as Energy Star® appliances, to make the home more energy efficient. The maximum combined total of the HOPE property tax incentive and the HOPE energy efficiency incentive is $1,750.
For more details, contact us and we can help buyers take advantage of this one-time offer from the state of Missouri.
The Missouri Housing Development Commission is still offering up to a $1,250 credit in real estate tax benefits for qualified buyers through the Home Ownership Purchase Enhancement (HOPE) program. Earlier this year the commission set aside $15 million to encourage home ownership, but it seems potential buyers have been slow on the uptake. Only $1.2 million has been issued, and that with the deadline drawing near.
To qualify, the home must be purchased between January 1, 2010, and August 31, 2010. The HOPE application must be received by the MHDC no later than September 30 of this year. There is also an income limit–up to $95,060 in the St. Louis metro region. First-time and repeat buyers are eligible for the program.
Homebuyers who are approved for the real estate property tax HOPE incentive may also be eligible to receive an additional amount if they bought a qualified newly constructed energy efficient home or bought an existing home and remodeled or purchased items, such as Energy Star® appliances, to make the home more energy efficient. The maximum combined total of the HOPE property tax incentive and the HOPE energy efficiency incentive is $1,750.
For more details, contact us and we can help buyers take advantage of this one-time offer from the state of Missouri.
Wednesday, July 28, 2010
O’Fallon, St. Peters are recognized in Money Magazine’s Best Places to Live among small U.S. cities.
Both cities are praised for affordable housing, and as great places to raise families.
Our hearty congratulations go out to O’Fallon and St. Peters for being recognized in Money Magazine’s Best Places to Live 2010! Communities in St. Charles County routinely appear on many “Best of…” lists and this time O’Fallon checked in at 26 and St. Peters took the 60th spot.
O’Fallon was noted as home to several corporate offices, including MasterCard, which helped keep the unemployment rate under the national average. Also highlighted is O’Fallon’s 400 acres of parkland, affordable homes at a median sale price of $172,250, low crime, plenty of restaurants and nearby cultural attractions.
Celebrating its centennial year, St. Peters was ranked in the top 100 as a small city “…older and more established than some of its neighbors. That gives the place character and makes many houses more affordable.” St. Peters Mayor Len Pagano is especially pleased with the designation during the Centennial because “we’ve talked about how we owe a lot to our history and the great planning that took place through the years.”
The survey, in the August 2010 issue, considered small cities within the 50,000-300,000 population range. Locally, St. Charles, St. Louis and Florissant were noted in the unranked contenders. Eden Prairie, MN, topped the list. The survey focused on small cities that offered jobs, good schools, safe streets, low crime and lots of activities that benefit raising a family.
Our hearty congratulations go out to O’Fallon and St. Peters for being recognized in Money Magazine’s Best Places to Live 2010! Communities in St. Charles County routinely appear on many “Best of…” lists and this time O’Fallon checked in at 26 and St. Peters took the 60th spot.
O’Fallon was noted as home to several corporate offices, including MasterCard, which helped keep the unemployment rate under the national average. Also highlighted is O’Fallon’s 400 acres of parkland, affordable homes at a median sale price of $172,250, low crime, plenty of restaurants and nearby cultural attractions.
Celebrating its centennial year, St. Peters was ranked in the top 100 as a small city “…older and more established than some of its neighbors. That gives the place character and makes many houses more affordable.” St. Peters Mayor Len Pagano is especially pleased with the designation during the Centennial because “we’ve talked about how we owe a lot to our history and the great planning that took place through the years.”
The survey, in the August 2010 issue, considered small cities within the 50,000-300,000 population range. Locally, St. Charles, St. Louis and Florissant were noted in the unranked contenders. Eden Prairie, MN, topped the list. The survey focused on small cities that offered jobs, good schools, safe streets, low crime and lots of activities that benefit raising a family.
Monday, July 19, 2010
Keeping a financial even keel is essential to purchase a home these days
Pay off your credit cards on time and in full, skip the new car or the new furniture. Banks and mortgage companies want to see financial stability with no big changes.
Anxious to close on the house? Sometimes the waiting period between finding your perfect place and driving up to your new home with keys in hand can be nerve wracking. You’ll want to be seen in the best light possible, so don’t get ahead of yourself.
Most likely you’ll need a mortgage and you want to be financially stable. When you begin your search, get copies of your credit report to make sure it is clean. If you find any errors, fix them.
Making large purchases in anticipation of buying a house, like new furniture, is not a good idea. That can affect your credit rating. The same goes for taking out another loan, buying a car or funding an education. Keep your credit situation as-is for right now.
Any changes to your credit status can make a difference for mortgage approval. Pay all your credit cards before the due date to make sure they are processed on time and don’t increase your credit balance. A mortgage pre-approval doesn’t make it a done deal.
Wait on any large purchases. For instance, no new car, or a new loan, or even new furniture for your home. Keep your credit situation as-is for now. Also, don’t co-sign a loan because that will add credit liability and could very well eliminate your chances of obtaining a mortgage.
Moving large sums of money is not a good idea. Don’t jump the gun and take money from savings to checking in anticipation of closing. Last minute credit and bank checks will generate inquiries about the shift and could slow down the process.
And if you leave the money in the savings account you won’t be tempted to spend it. Funds designated for closing should be left alone in the event of unexpected house-related costs. After all is said and done, you may have a bit left over but spending that won’t affect your closing.
Keep copies of all your paperwork in one place and have it ready in case someone in the process loses a crucial document. By keeping copies, you’ll be able to provide information quickly, getting you that much closer to your new home.
The time leading up to buying a house is all about financial restraint. Right now banks and mortgage companies are taking very close looks at their clients and you want to show you are a good candidate. After the closing, celebrate!
Anxious to close on the house? Sometimes the waiting period between finding your perfect place and driving up to your new home with keys in hand can be nerve wracking. You’ll want to be seen in the best light possible, so don’t get ahead of yourself.
Most likely you’ll need a mortgage and you want to be financially stable. When you begin your search, get copies of your credit report to make sure it is clean. If you find any errors, fix them.
Making large purchases in anticipation of buying a house, like new furniture, is not a good idea. That can affect your credit rating. The same goes for taking out another loan, buying a car or funding an education. Keep your credit situation as-is for right now.
Any changes to your credit status can make a difference for mortgage approval. Pay all your credit cards before the due date to make sure they are processed on time and don’t increase your credit balance. A mortgage pre-approval doesn’t make it a done deal.
Wait on any large purchases. For instance, no new car, or a new loan, or even new furniture for your home. Keep your credit situation as-is for now. Also, don’t co-sign a loan because that will add credit liability and could very well eliminate your chances of obtaining a mortgage.
Moving large sums of money is not a good idea. Don’t jump the gun and take money from savings to checking in anticipation of closing. Last minute credit and bank checks will generate inquiries about the shift and could slow down the process.
And if you leave the money in the savings account you won’t be tempted to spend it. Funds designated for closing should be left alone in the event of unexpected house-related costs. After all is said and done, you may have a bit left over but spending that won’t affect your closing.
Keep copies of all your paperwork in one place and have it ready in case someone in the process loses a crucial document. By keeping copies, you’ll be able to provide information quickly, getting you that much closer to your new home.
The time leading up to buying a house is all about financial restraint. Right now banks and mortgage companies are taking very close looks at their clients and you want to show you are a good candidate. After the closing, celebrate!
Monday, July 12, 2010
Ceiling fans make life more comfortable year round
Cooling in the summer, warming in the winter, ceiling fans sweep away energy costs
The July sizzle is in the air, a blanket of humidity has descended over the metro area and air conditioners are working overtime. One inexpensive solution to help the AC is adding ceiling fans to your home. If you choose an Energy Star fan, you’ll not only increase your comfort level but also decrease your utility bill, sometimes as much as 15 percent. Fan design has improved so much over the years that there’s a fan for any décor, from the traditional Tiffany glass and dark wood models to ultra modern one-blade fans. Prices are also reasonable in relationship to the ultimate cost savings and comfort.
Don’t think of ceiling fans as just a summertime thing–in the winter fans with reversible blades circulate the hotter air that rises to the ceiling, helping to lower your heating bills too.
Before you rush out to buy a fan, do some homework first and determine the square footage. Measure the length and width of your room and multiple the numbers. That’s the square footage. Keep in mind the style of the room, and decide if you want a light kit and remote controls.
According to the American Lighting Association, choosing a fan that fits your room size gives you the maximum efficiency. In a room up to 75 square feet, like a bathroom, a 29-36 inch fan is appropriate. Medium sized rooms up to 144 square feet can handle ceiling fans from 36-42 inches. For larger bedrooms and family rooms in the 225 square foot range, the most efficient fans are 50-54 inches. The number of blades makes some difference in airflow, but whether to choose a four, five or six-blade fan is really a matter of personal design choice.
Ceiling fans do such an efficient job of circulating air when used correctly. Paul Vrabel of ICF International, an energy solutions firm, explains how to operate fans properly. “Put them on when you are in the room–during the day and when sleeping–and turn them off when you leave. Ceiling fans cool people, not the air. Using fans wisely and turning down the AC can save a lot of money.”
Written by Myra Vandersall
The July sizzle is in the air, a blanket of humidity has descended over the metro area and air conditioners are working overtime. One inexpensive solution to help the AC is adding ceiling fans to your home. If you choose an Energy Star fan, you’ll not only increase your comfort level but also decrease your utility bill, sometimes as much as 15 percent. Fan design has improved so much over the years that there’s a fan for any décor, from the traditional Tiffany glass and dark wood models to ultra modern one-blade fans. Prices are also reasonable in relationship to the ultimate cost savings and comfort.
Don’t think of ceiling fans as just a summertime thing–in the winter fans with reversible blades circulate the hotter air that rises to the ceiling, helping to lower your heating bills too.
Before you rush out to buy a fan, do some homework first and determine the square footage. Measure the length and width of your room and multiple the numbers. That’s the square footage. Keep in mind the style of the room, and decide if you want a light kit and remote controls.
According to the American Lighting Association, choosing a fan that fits your room size gives you the maximum efficiency. In a room up to 75 square feet, like a bathroom, a 29-36 inch fan is appropriate. Medium sized rooms up to 144 square feet can handle ceiling fans from 36-42 inches. For larger bedrooms and family rooms in the 225 square foot range, the most efficient fans are 50-54 inches. The number of blades makes some difference in airflow, but whether to choose a four, five or six-blade fan is really a matter of personal design choice.
Ceiling fans do such an efficient job of circulating air when used correctly. Paul Vrabel of ICF International, an energy solutions firm, explains how to operate fans properly. “Put them on when you are in the room–during the day and when sleeping–and turn them off when you leave. Ceiling fans cool people, not the air. Using fans wisely and turning down the AC can save a lot of money.”
Written by Myra Vandersall
Monday, July 5, 2010
Senior homebuyers want simplification, good design, and smaller homes
Americans age 55+ are looking for homes close to family, work, and with a sense of style.
What does the 55+ crowd want in a home? Smaller, more energy-efficient homes in active, vital communities near work and family are the top requirements. Those are the findings from a study by MetLife and the National Association of Home Builders (NAHB) called “Housing for the 55+ Market: Trends and Insights on Boomers and Beyond.”
The study reveals that Boomers are looking for smaller, less expensive homes. This group isn’t ready to retire anytime soon, and with the Great Recession complicating things, they are staying in their jobs as long as possible to recoup financial losses.
The lure of “age-restricted” communities is there too, but only those that fit into the active lifestyle. These people aren’t ready for the rocking chair. The study notes that “those who moved from their existing homes did so primarily for reasons relating to their families, but the design and quality of the home, as well as the design and layout were the factors most often considered.”
Dave Crowe, NAHB’s chief economist agrees. “ A strong and growing number of retirees and empty-nesters are interested in either downsizing or moving to a more user-friendly home, especially if it’s near their existing community.”
Homebuilders are beginning to recognize what boomers want and incorporate that lifestyle in home design. In addition to a smaller home, a one level floor plan is preferable with open space and tall ceilings. Wider hallways are a plus, as is minimizing unnecessary staircases. Over 55ers want small luxuries, like double sinks and a soaking Jacuzzi-style tub, plus some space for hobbies.
Boomers, 38.9 million over the age of 65, are well-traveled, sophisticated consumers who have a good sense of what they want. And for housing, they want simplification that will enhance their lifestyles.
Senior Living in St. Charles
Written by Myra Vandersall
What does the 55+ crowd want in a home? Smaller, more energy-efficient homes in active, vital communities near work and family are the top requirements. Those are the findings from a study by MetLife and the National Association of Home Builders (NAHB) called “Housing for the 55+ Market: Trends and Insights on Boomers and Beyond.”
The study reveals that Boomers are looking for smaller, less expensive homes. This group isn’t ready to retire anytime soon, and with the Great Recession complicating things, they are staying in their jobs as long as possible to recoup financial losses.
The lure of “age-restricted” communities is there too, but only those that fit into the active lifestyle. These people aren’t ready for the rocking chair. The study notes that “those who moved from their existing homes did so primarily for reasons relating to their families, but the design and quality of the home, as well as the design and layout were the factors most often considered.”
Dave Crowe, NAHB’s chief economist agrees. “ A strong and growing number of retirees and empty-nesters are interested in either downsizing or moving to a more user-friendly home, especially if it’s near their existing community.”
Homebuilders are beginning to recognize what boomers want and incorporate that lifestyle in home design. In addition to a smaller home, a one level floor plan is preferable with open space and tall ceilings. Wider hallways are a plus, as is minimizing unnecessary staircases. Over 55ers want small luxuries, like double sinks and a soaking Jacuzzi-style tub, plus some space for hobbies.
Boomers, 38.9 million over the age of 65, are well-traveled, sophisticated consumers who have a good sense of what they want. And for housing, they want simplification that will enhance their lifestyles.
Senior Living in St. Charles
Written by Myra Vandersall
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