Spring Selling Tips 

 

Article taken from About.com by Elizabeth Weintraub

Spring is the optimum tijme to sell a home.  Regardless of whether it's a buyer's market or  a seller's market, inventory almost always rises in the spring.  Why? Because the largest number of buyers are actively searching for a new home during the months of April, May and June.  
Tip: If your home has been languishing on the market since the holidays, take it off the market. Give it a chance to "cool down" for a few weeks before putting it back on the market. Nobody is going to look at your home in the spring if the DOM show it's been on the market for several months. Buyers gravitate toward fresh, new listings!

Here are 15 things you can do to improve the odds that your home will stand out among the sea of new listings flooding the spring-time real estate market:

 

1) Wash windows inside and out / polish all mirrors

Sparkle is free, and sparkle sells homes. A potential buyer may not realize why your home seems so inviting but will feel drawn to it if the windows are spotless and your mirrors reflect sunlight. Cleaning is the first step to preparing your home for sale.

 

2) Rake the yard / trim back bushes

Clean out dead leaves and debris in your lawn. Don't let overgrown vegetation block the windows or path to the entrance. Cutting bushes and tree limbs will let the sun inside and showcase the exterior of your home.

 

3) Mow diagonally and edge lawn along driveway / sidewalks

Artfully manicured lawns are edged and tell buyers you pay attention to small details. Diagonally mowed lawns make your yard appear larger.

 

4) Transplant tulips and daffodils or buy flowers in containers

Yellow flowers stimulate buying urges. After a long winter, everybody is anxious to see the first signs of spring. Yellow tulips and daffodils induce feelings of happiness and contentment. Arrange containers in groups of three or five near the entrance.

 

5) Clean drapes, curtains & blinds and open every window

Send your window coverings to the dry cleaners or wash, dry and press. Toss blinds into a soapy bathtub for a quick wash. Get rid of all accumulated dust and spider webs. Crisp linens and a spring-time breeze through the windows invites the season inside.

 

6) Set out fresh-smelling flowers such as just-clipped lilac branches or peonies

Why not flatter your neighbors and ask if you can borrow flowers from their yards? Natural scents are more appealing than artificial and trigger fewer allergies among those susceptible. Peony vases are designed to hold peonies upright, but wash the flowers first to avoid carrying ants inside. Clever home staging brings color and fragrance indoors.

 

7) Polish floors to a high gloss

Your hardwood floors should be refinished, if necessary. Make your ceramic and linoleum floors twinkle and shine. Bleach dull grout. Thoroughly clean all area rugs.

 

8) Utilize towels, throws, pillows in light colors – yellows, pinks, pale blues, lavenders

Even if it means replacing items, towels, linens, throws and sofa pillows are inexpensive accents you can buy. In soft spring colors, they will light up a room. Layer towels on bathroom towel racks and place rolled wash cloths on the counters in a fashionable pyramid.

 

9) Offer an outside mat for cleaning shoes & put umbrella stand at entrance

No matter where you live, spring weather is often unpredictable. In some states, it can be 72 degrees one day and snowing the next. If it's raining, give buyers a place to stash umbrellas and wipe their feet before entering your home. Some sellers lay down plastic runners across floors for protection, but that tends to ruin the effect of a glittering polish job.

 

10) Buy brightly colored helium balloons

Stationery and party-supply stores sell helium balloons for about a dollar each. So, there's no reason not to pick up a couple dozen balloons to tie to your open house signs. Balloons build excitement and will get your home noticed by home shoppers.

 

11) Set out four-color flyers & financing options

Don't skimp on your marketing materials. You want home buyers to select your flyer among the dozens they pick up. Color sells better than black and white. Show home buyers how easily they can afford to buy your home by giving them two or three financing options. The first thing on buyer's minds when considering a home purchase is the monthly mortgage payment. Don't make them guess.

 

12) Use a color photo for display advertising

Spend a little more on newspaper and online advertising by including a color photograph in your ad. Remember: a picture is worth a 1,000 words. Look through your photo galleries for a seasonal photograph that flaunts your home to its best advantage.

 

13) Mail four-color postcards with UV coating

Call a local title company to obtain a free direct-mail list of your surrounding neighbors. Print four-color oversized postcards and include a UV coating to give the marketing oomph. Use first-class postage.

 

14) Fill sink with ice to chill bottled water for guests

Put a couple dozen bottles of water in a sink of ice for buyers. You can also tape labels to the bottles, printed from your computer, with your phone number, a photograph and address of your home.

 

15) Set out treats, individually wrapped in cellophane & tied w/ribbon

Touring homes makes buyers hungry. Give them a snack. It will give buyers an opportunity to linger in your kitchen and marvel at its elegant appointments, which might otherwise be overlooked.

 

At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.

 

203k Loan Program

Article taken from FHAinfo.com 

The Federal Housing Administration (FHA), which is part of the Department of Housing and Urban Development (HUD), administers various single family mortgage insurance programs. These programs operate through FHA-approved lending institutions which submit applications to have the property appraised and have the buyer's credit approved. These lenders fund the mortgage loans which the Department insures. HUD does not make direct loans to help people buy homes.

 

The FHA 203k loan program is the Department's primary program for the rehabilitation and repair of single family properties. Basically a home improvement loan.  As such, it is an important tool for community and neighborhood revitalization and for expanding homeownership opportunities. Since these are the primary goals of HUD, the Department believes that FHA  203k loan is an important program and they intend to continue to strongly support the program and the lenders that participate in it. 

Lenders have successfully used the FHA 203k loan program in partnership with state and local housing agencies and nonprofit organizations to rehabilitate properties. These lenders, along with state and local government agencies, have found ways to combine the FHA 203k loan with other financial resources, such as HUD's HOME, HOPE, and Community Development Block Grant Programs, to assist borrowers. Several statehousing finance agencies have designed programs, specifically for use with FHA 203k loan and some lenders have also used the expertise of local housing agencies and nonprofit organizations to help manage the rehabilitation processing. 

HUD also believes that the FHA 203k loan program is an excellent means for lenders to demonstrate their commitment to lending in lower income communities and to help meet their responsibilities under the Community Reinvestment Act (CRA). HUD is committed to increasing homeownership opportunities for families in these communities and Section 203(k) is an excellent product for use with CRA-type lending programs.   

 

FHA 203K Loan - How the Program Can Be Used: 

This program can be used to accomplish rehabilitation and/or improvement of an existing one-to-four unit dwelling in one of three ways:

· To purchase a dwelling and the land on which the dwelling is located and rehabilitate it.

· To purchase a dwelling on another site, move it onto a new foundation on the mortgaged property and rehabilitate it.

· To refinance existing indebtedness and rehabilitate a dwelling;

To purchase a dwelling and the land on which the dwelling is located and rehabilitate it, and to refinance existing indebtedness and rehabilitate such a dwelling, the mortgage must be a first lien on the property and the loan proceeds (other than rehabilitation funds) must be available before the rehabilitation begins. 

To purchase a dwelling on another site, move it onto a new foundation and rehabilitate it, the mortgage must be a first lien on the property; however, loan proceeds for the moving of the house cannot be made available until the unit is attached to the new foundation.

 

For more information about 203k Loans please visit http://www.fhainfo.com/fha203k.htm


Metro Brokers, Inc. real estate agents specialize in houses for sale or purchase in Colorado;including the greater Denver area.

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