Preparing To Sell

 
 
 

 

CALL FOR FREE FORECLOSURE  LIST

702-604-1001

Click Below to search Las Vegas area foreclosures on the MLS.

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Take me to: 2010 First-Time Homebuyers Tax Credit

 

7+ Million Loans Behind On Payments

Approximately 7, 200,000 mortgage loans are behind on payments and 1,000,000 properties are now in REO status and owned by banks, according to the January 2010 report from a large lender processing service company.

Home delinquency rates passed the 10% mark.  The total foreclosure inventory is 3.2%, and the rate combining foreclosures and delinquencies is 13.3%.

The percentage of new serious delinquencies is 4.64%, which is higher than any other year analyzed for the same period.  Of the loans that were up-to-date as of December 31, 2008, by December 31, 2009 there were 2.3 million new loans classified as seriously delinquent.

Prime loans have experienced deterioration at a worse pace on relative basis than subprime, FHA, and all loans as a whole.  Within the prime category, loans with current unpaid principal balances between $417,000 and $600,000 have performed the worst.   However, 2009 loans are performing better than loans from any of the prior 5 years and have been improving as more origination months are added to the pool of loans.   (We may speculate that this phenomenon is because the loans made beginning in 2009 and later are at much lower prices than those in the previous 5 years, at least in the Las Vegas/ Henderson area, are at lower rates, and are more conservatively written than loans in the previous time frame.)





 

 

http://www.vegasreoconnection.com 

 

 

 


 
 

Preparing Yourself and Your Home To Sell

News

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Look through our site for information on the first time Homebuyers Tax credit, Up to $8000 for qualified buyers.

 

 

Giving your home the "On-The-Market" Makeover


You live in your home for comfort, but you need to sell your home like it is a model!  Here are some helpful hints we'd like to share with you that we've gathered from Certified Residential Specialists from around the country.

Before The Showings Begin:
First impressions are lasting impressions.  The exterior of your home often determines how buyers will view the interior, so:

  • Make sure the front entrance is clean and inviting.
  • Paint or replace your front door if it is faded or worn.
  • Add some paint to shutters, trim, and any other outside feature showing signs of wear.
  • Plant seasonal flowers in front to add a touch of color and friendliness.
  • Keep the lawn mowed, bushes trimmed, walkways edged.  Green up any brown spots in the lawn.  Replace dead trees and brushes.  Trim off dead parts from thriving plants.
  • If teenagers have painted their room in a "custom" motif, it would be better to repaint in a neutral color.

Beauty Is More Than Skin Deep:
Buyers often see the surface condition of your property as a sign of what's underneath, so:

  • Keep windows and floors clean.
  • Replace faded wallpaper and glue any areas that have come away from the wall.
  • Repair worn or damaged woodwork.
  • Repaint scarred or dirty walls in a neutral color.
  • Steam clean carpet or replace, if necessary.
  • Repair loose knobs, sticking doors and windows, warped cabinet drawers, broken light switches and other minor flaws.
  • Check and repair caulking in bathtubs and showers.
  • Scrub grout between tiles on floors, counters, tub and bath enclosures.  Re-grout or re-seal where necessary.
  • Scrub door knobs and light switch plates.
  • If you smoke, try to rid your property of any cigarette odor.
  • Remember, buyers will deduct $$thousands off the price for items that only cost $$hundreds to fix!

Accentuate The Positive:
Try to see your home with a fresh perspective and arrange each room to bring out its best attributes, including:

  • Always open window coverings to let light in during the showing.
  • Remove all unnecessary clutter throughout to better display spacious rooms (consider storage or a garage sale to dispose of extraneous items, or you could donate them to a local charity and take a tax deduction if your itemize your taxes).
  • Arrange all your rooms neatly and remove excess furniture.
  • Keep clean, fresh towels in the bathroom.
  • Use candles or a mild air freshener to give rooms a pleasant scent.

Put Your Property In The Best Light:
Strategically lighting your property, even during daytime showings, can create a cozy mood and highlight positive attributes in each room, so:

  • Avoid the use of overhead lighting that makes the rooms look washed out and lifeless.
  • Be creative and arrange lamps to help smaller rooms seem larger, and large rooms more intimate.  Turn the lamps on for showing, even in the daytime.
  • Use lighting to highlight the "living areas" if your home, such as a pair of chairs near a fireplace, or a table in a breakfast area.
  • Put the spotlight on the strengths and potential of your home.
  • Create the right mood and atmosphere given the room's function, color scheme, etc.
  • Accent the positive aspects and unique features of each area of your home.
  • Define the space.
  • Bring the room to life.

Leave The Selling To The Professional:
Buyers often feel uncomfortable in the presence of a homeowner, so:

  • Try not to be present during showings and try to take all pets with you.
  • If you are home, never apologize for the appearance of your home.
  • Only the REALTOR® should discuss any objections and subjects such as price, terms, possession, and other factors with the buyers.
  • Do not correct the REALTOR¨ in front of the buyer, but if he mis-states a material fact regarding the home, tell him later in private.

Keep The Disturbances Down:
Potential homebuyers have a lot to take in, so minimize the distractions:

  • Pipe classical, jazz, or soft rock music, but keep the volume low.
  • If possible, turn off the ringer on your phone during showings.
  • Keep cats, dogs, litter boxes, and feeding dishes out of the way, preferably out of the house.
  • Ask children to play outside, if the weather permits, or take them for a treat while the house is being shown.
  • Turn off all TV's.

Create A Homey Atmosphere:
Buyers try to picture themselves and their family living in your home, so:

  • Create a pleasant aroma by baking cookies or bread, or placing bread in a warm oven on the day of the showing.
  • Keep the heat or air conditioner at comfortable levels.  In the summer months, keeping your air conditioner on will tend to make a buyer spend more time in your home and can make a difference.
  • If you have a fireplace, light it during the wintertime showings.

Have Records Available:
Even if a buyer does not study them, having records available can make it clear you are conscientious and have nothing to hide:

  • Have copies of your gas, electric, and water bill from the last 12 months available.
  • Be ready to show all home improvement and repair bills.  A new air conditioner in a resale home will go a long way to alleviate fears buyers may have about buying an older home.

 

 

 

 

 

Copyright © 2009. Mike Pristow, Donna Hodge & Associates. All Rights Reserved.

Keller Williams Realty, The Marketplace

2230 Corporate Circle #250

Henderson, NV  89074

702-604-1001

                                    

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