Be Wary of Meth Labs

Meth labs? Are you kidding? Yes, if you are in the market of purchasing a home you need to be wary.
Methamphetamine residues is an increasing problem for homebuyers. The U.S. Drug Enforcement Agency says meth labs have been discovered in 46 states.
There are signs to look for when looking at potential homes:

• Yellow discoloration on walls and other surfaces
• Taped off fire detectors
• Experiencing burning eyes, itchy throat, or a metallic taste in your mouth while in the home.
• Strong odors similar to solvent, cat urine, or ammonia.
• Presence of security cameras or other surveillance equipment.

So don't ever rely on the seller's assurance because suing after the fact is unlikely to net results.

Source of Info: MoneyWatch.com

Landscaping

A lot have been written about landscaping yards for curb appeal because buyers see the outside first when they drive up to a home. So it makes sense to make this area as attractive and inviting as possible. I realize it's February, cold and dull right now, but let's think ahead. Investing money in your landscape could make a huge difference to a buyer. In fact, curb appeal can be the sole reason prospective buyers ever end up entering a home. That's why listing agents often give the sellers tips to help them fix up their homes. So, here are a few ideas to improve your landscaping.

1. An attractive landscape usually has color. Colors that grab the most attention are red, orange, and yellow. Cooler colors such as blues and purples helps you to relax. So, if you have a meditation garden, these should be included.

2. Use colorful mulch. Rubber mulch uses recycled ground rubber that comes in several different colors including green, brown, blue, and cypress. An added benefit is that if your home has a backyard playground and you have mulch underneath it instead of wood chips, you can a higher level of protection and an additional selling point to feature.

Oh, and another area many do not consider to be landscaping is the driveway. If you have been a do-it-yourselfer with you vehicles (oil changes,etc) maybe it shows on your driveway.Clean up any spills and move the parked cars to give buyers a chance to take in the entire residence.

For more information on improving value through landscaping, visit http://realtytimes.com

Should I Consider A Home Auction?

If you've had a "For Sale" sign in front of your house for months, you want something to happen and you want it to happen yesterday. Why not consider an auction? I know. When we think of auctions, we tend to think of auctions strictly for distressed properties. However, this is not true any longer. Selling premium homes via auction has become somewhat commonplace in Los Angeles, Miami, and New York. Now the trend has gained momentum in the Baltimore and surrounding areas.
The idea makes good marketing sense for sellers who missed the real estate boom over the last few years. What are some seller benefits?
It significantly lowers your commission as seller
You have a quicker sale ( 5 weeks from signing agreement to auction date)
Maximum buyer participation
Maximizes dollars
No contingencies
Buyer pays ALL transfer taxes and recordation fees.
These are just a few benefits.

Now suppose you are the buyer? What benefits to you?
Auctions are fun
Open, fair bidding process
Simple and transparent (Since you receive all information needed prior to auction; thus no surprises)
Buyers buy at their price
The decision to bid is reinforced by the immediately preceding bid
6% buyers premium is financeable.

So, auctions are good. Auctions can maximize the value of a property because of the competitive bidding process.
Buyers are eager to bid for a chance at a bargain. This is the only time you can go and buy something at your price.

If you want any more information on the process involved or a list of homes in the area that are offered through auctions, contact me.

How to Bring Out Home's WOW Factor

Home prices have fallen and many homeowners are mortgaged to the hilt. This makes it difficult for some sellers to justify spending a penny to get their home ready for the market. However, when buyers have a choice, they pick the best. They want a home at a good price, in a good location, and one that they can move right into without having to do any work.

If you're a seller who's selling in a market where there is competition from distressed sale foreclosures or from other sellers who offering their homes in top condition you will be at a disadvantage if you don't fix up your home before selling. It will take longer for you to sell and you could sell for a lot less than if you had invested time and money in properly preparing your home for sale.

There is a lot you could do to get your home ready that doesn't cost much money- it takes time and hard work. For instance, most people have too many personal possessions in their homes, particularly if they have lived there for years. Decluttering benefits you in a couple of ways. You won't pay to move things you no longer need or want. More importantly, buyers will be better able to see what your home has to offer instead of focusing on your things.

HOUSE HUNTING TIP: It's worthwhile to consider hiring a home staging decorator. Some sellers need only a consultation of one to two hours. Ask the stager what you should keep and what should be moved out before you start showing the house. Also, get recommendations for furniture and artwork arrangement. The way you live in your house is not necessarily the best way to show it off to prospective buyers.

Today's buyers have alot to think about when they buy a home. Are they buying at the right price and time? Will the house work for the long term? Can they qualify for and afford the financing they need? It helps the process along if you can create an ambiance that enables a buyer to fall in love on the first visit.

THE CLOSING: You need to create the WOW factor so that when buyers walk in they say, "I better act quickly. This house won't be on the market for long".