Posted in Staging Tips, by Blog Contributor on January 18, 2016 641 By Tori Toth One of the most cost-effective ways to prepare a home for sale is to organize it, but I know for many home sellers it’s no easy task. It’s important to contain and, in fact, erase clutter for three reasons: Gain more square footage. Showcase the positive features in the home. Buyers can visualize living in the space. Clutter comes in all different forms and it lingers in most homes. So if you see piles of paperwork, clothes on the floor, stuffed closets — it’s time to declutter! Here are some tips: 1. Start small. Organizing is an evolving process that changes as the needs of a home owner change. Start small: One room, one closet, one corner. Just start somewhere! To make it count, tackle the first cluttered area a home buyer would see as they walk into the home. 2. Schedule it. Many times a home owner never starts the decluttering process because of time constraints. Schedule blocks of time (2-4 hours) or even just 15 minutes a day depending on what needs to be organized to make your goal a reality. 3. Find a home. One reason why clutter can build up in a home is if an item is homeless. Creating a place for each item in your home is a crucial part to obtaining an organized home. Of course, keeping the space in order only happens when you return an item back to it’s home after use.  4. Adopt “good habits.” By always returning an item home, you’re building in a maintenance system in your organizing process. Another good habit to adopt is to take 5-10 minutes every night and put items away. This way when you wake up in the morning, the house is ready to show off. For more tips on how to organize a home, view: “Lose the Clutter: Habits That Could Make or Break Your Home Organizing Goals.” ABOUT THE AUTHOR: Tori Toth is an Amazon best-selling author who wrote “Feel At Home: Home Staging Secrets for a Quick and Easy Sell.” She is also the founder of The Stage 2 Sell Strategy, the world’s first online home staging video course for home sellers. Toth opened her staging company, Stylish Stagers, Inc. in New York City back in 2009. Her book, how-to videos, newsletters, products and appearances now inspire hundreds of thousands of home owners and real estate experts worldwide. Meet Tori by visiting her website or Facebook Fan page....

Quicken Loans, Freddie Team for 3% Loans DAILY REAL ESTATE NEWS | TUESDAY, OCTOBER 20, 2015 Quicken Loans has partnered with Freddie Mac to help expand a program that would allow qualified borrowers to finance homes with down payments of as little as 3 percent, the companies announced this week. The partnership comes at a time when Quicken Loans is battling allegations from the Justice Department over its past underwriting practicing on Federal Housing Administration-backed loans. Quicken Loans has sued the federal government, alleging the Departments of Justice and Housing and Urban Development “cherry-picked” from its FHA-backed loans in trying to show poor underwriting. In turn, the government sued Quicken Loans, accusing the firm of submitting insurance claims for hundreds of poorly underwritten FHA-insured loans over four years. Both lawsuits are still the pending. The lawsuit has prompted Quicken Loans, like other large lenders, to reduce its involvement in the FHA single-family program, which offers mortgage insurance for first-time and lower-income borrowers. Lenders such as JPMorgan Chase & Co. also have been reportedly hesitant to underwrite FHA loans. “Mid-size and small community-based lenders, both banks and nonbanks, have stepped up to fill the gap,” says Glen Corso, executive director of Consumer Mortgage Lenders of America. Quicken Loans, under its new agreement with Freddie Mac, will offer financing for loans with down payments as small as 3 percent – which is lower than the 3.5 percent for FHA loans. “Home buyer demographics will continue to significantly shift in upcoming years, and mortgage programs must evolve to serve the needs of groups like first-time buyers and minority groups,” Quicken Loans Chief Executive Officer Bill Emerson says. Source: “Quicken Joins Freddie Mac to Offer Loans While Battling U.S.,” Bloomberg (Oct. 19, 2015)  ...

7 Tips to Get a Home Winter-Ready DAILY REAL ESTATE NEWS | WEDNESDAY, OCTOBER 21, 2015 Winter is on the way, and home owners should preparing their homes for the colder temperatures. The National Association of Home Builders Remodelers suggested home maintenance tips to increase energy efficiency and lessen the chance of emergency repairs. “Before winter weather sets in, spend some time improving and protecting the inside of your home,” says NAHB Remodelers Chairman Robert Criner. “Fall is a good time to check mechanical systems and combat drafts. It’s also an opportune time to organize the details of your next remodeling project and save space on the calendar of a professional remodeler.” Share these tips with your prospects to help them better protect their home during the colder months ahead. Ensure there are no gaps in insulation or crawl spaces that expose pipes to cold air, which could put the pipes at risk of freezing and bursting. Have your heating system checked by a licensed technician before cold weather requires daily use. Block drafts around doors, windows and baseboards with weather stripping, window film and caulk to control heat loss. Install storm doors and windows to improve energy-efficiency and get rid of drafts. Have chimneys cleaned by an experienced chimney sweep to prevent the risk of a fire from buildup or blockages. Spray door locks with powdered-graphite lubricant to prevent freezing and sticking. Set ceiling fans to rotate clockwise to force rising warm air back towards the floor. Source: National Association of Home Builders Remodelers  ...

Best Day of the Year to Buy a Home DAILY REAL ESTATE NEWS | FRIDAY, SEPTEMBER 11, 2015 Mark Oct. 8 in your calendar. That’s the best date to close on a home at a bargain price, according to a new study by RealtyTrac. On average, buyers have purchased 10.8 percent below estimated market value on this date for the last 15 years, the study shows. The next best buying dates for house hunters are Nov. 26 (10.1 percent below market value); Dec. 31 (9.7 percent); Oct. 22 (9.6 percent); and Oct. 15 (9.1 percent). RealtyTrac analyzed more than 32 million sales of single-family homes and condos to come up with the data. Overall, October offered the most promise for bargain hunters. Over the last 15 years, the 2.7 million sales that have closed in October carried an average sales price 2.6 percent below the average estimated full market value at the time of sale. After October, the best deals are in February, July, December, and January. Meanwhile, the worst month of the year to buy a home — but the best to sell — is April. On average, buyers who purchased in April over the last 15 years bought their home at a premium of 1.2 percent above estimated market value at the time of sale. The study also found the best weekday to buy a home is on a Monday. Of 5.5 million single-family home and condo sales in the past 15 years that closed on a Monday, buyers saw an average discount of 2.3 percent below full estimated market value at the time of sale. Friday is the next best weekday, with buyers seeing an average discount of 2 percent. Thursday, on the other hand, was found to be the worst day of the week to buy, with a 1 percent average discount. By date, RealtyTrac found that the worst days of the year to close on a home purchase were Jan. 19 (buyers paid an average 9.6 percent premium above estimated market value); Feb. 16 (9.5 percent); April 20 (9.5 percent); April 6 (8.4 percent); and April 27 (8.2 percent). Source: RealtyTrac   Read more...

Understanding the Value of a Realtor BY KAREN SALMON Real Estate Agent with Royal LePage Benchmark Share: June 28, 2015 09:31 AM   Whether you are shopping for a home or looking to sell your current home, you will need to consider all of your options. You can work with a REALTOR, or you can attempt to navigate the process on your own. Some people believe that a REALTOR is simply an overpaid person who tours you around neighborhoods, unlocks doors, and comments on paint colours. The reality is that my job is much more extensive than that.   Here are just a few value-added benefits of hiring a professional REALTOR:   Marketing and Matchmaking   When you put a house on the market, you need people to see it. If you approach this by attempting to sell your home on your own, you may face some significant challenges. Outside of classified ads and online real estate websites, options for individual homeowners to market to potential buyers are limited. As a REALTOR, I have the connections, experience, and a continual database of buyers looking for homes to help you sell your home faster. As an aside, pricing your home accurately is of paramount importance.   An undervalued home will sell quickly in this marketplace. This often leaves you wondering if you could have in fact gotten money more for it – not the best feeling in the world once the ink has dried on the contracts. In the alternative, overpriced homes tend to sit on the market much longer, with very few showings. If a home is not being shown, it is not going to sell.  Showings bring offers. Typically, the longer a home sits on the market the less attractive it is to potential buyers. Sellers attempting to go it alone will sometimes stigmatize their homes for no reason, simply by overpricing it. In this case, they usually end up with much less money in their pocket than they would have otherwise had, had they just paid for professional representation from the onset.   If you do decide to attempt to sell your home yourself, also keep in mind that you will be responsible for the open houses, showings, and all aspects of facilitating access by yourself. Constantly running home to let buyers in for showings can quickly become a real drag. REALTORS use a secure lockbox system which lets them know exactly who has accessed their listings, and at what times of the day.   Permits, Title Registrations, Disclosures, and other Legal Concerns   When you buy a home, there are certain contracts and legal procedures you will have to deal with. Do you know where to obtain...

Statistics Prove Staging Makes a Difference. A recent study showed that a staged home sells 78% faster and for up to 10% more compared to non-staged homes (Source:  February 2010 Real Estate Staging Association). How much are you willing to come down in price because your home isn’t selling?  Your investment in home staging will cost far less than your first price reduction, if you stage it before putting your home on the market. Staging can be as uncomplicated as a walk-through with a written list of suggestions or as extensive as de-cluttering, rearranging and redecorating. Each home is unique, so we will create a customized plan for you that promises dramatic results.  A Vacant home will always show better when furnished.  Empty spaces appear small and leave buyers wondering where their furniture will go.   They also see every blemish in the home and often wonder if the seller is desperate and will take a low ball offer.  Let us fix that problem for you.  Staging the home with our extensive line of beautiful furnishings allows the buyer to “feel at home” as soon as they enter the front door, bringing up the value of your home.      ...