- 10 Ideas to save Money and make home greener
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Saving money and going green are both hot topics right now. So, I'm sure you've already heard the tips to turn off water while brushing your teeth, turn off TVs and computers and swap out old light bulbs for the new energy-saving versions.
Here are 10 new ideas to help you save money and make your Cape Coral home greener.
1. Swap stuff. There are hundreds of online sites where you can get furniture, books, CDs, DVDs and even a place to stay for free by swapping stuff with other people. And, I'm not just talking about Craigslist. Two of the most popular and easy to use swap sites are Paperbackswap.com and SwapaDVD.com.
2. Recycle your cell phone. According to the EPA, if the 100 million cell phones no longer being used by Americans were recycled, enough energy would be saved to power more than 18,500 homes for a year. Give your cell phone back to its manufacturer or donate your cell phone to charity.
3. Recycle other electronics. Keep old TVs out of landfills by taking them to a safe e-cycling facility. Return iPods to Apple for recycling or sell them for parts. Take e-waste to stores like Best Buy and Staples that have recycling programs. You'll save money by not having to pay to dispose of the electronics.
4. Wait until May to buy a new TV. New government standards take effect May 1, 2010. Energy Star-labeled televisions will be at least 40% more efficient than comparable models -- a significant savings.
5. Eat foods that are in season. It's healthier, less expensive and better for the environment. Oh, and one more big plus: the food tastes so much better!
6. Install a water filter. Bottled water isn't any healthier than tap water, and all that plastic waste is terrible for the environment. It's also expensive! If you use a water filter in your Cape Coral home, you can get great-tasting, clean water while reducing your waste and saving money.
7. Turn down your water heater. You won’t notice the temperature change, but your water heater won’t work as hard and won’t use as much energy.
8. Plant a vegetable garden. If you don’t have the space to plant a garden, plant a tree or put some plants outside. Find vegetables and plants that grow well in your area for the best results. Ask your local garden center for that information.
9. Use green cleaners. There’s no reason to use harsh chemicals to clean your home. Use biodegradable cleaners that are safe for the environment or make your own green cleaners. Use old towels and T-shirts instead of disposable wipes and paper towels to cut down on waste and save you money.
10. Check your insulation. Adding insulation to your home will cost money initially, but you'll quickly earn it back plus more by saving long term on your heating and cooling bills. Skeptical? Start out by insulating your attic and keeping track of your energy savings. It averages out to about $116 a year in savings.
Want more tips to save money and make your Cape Coral home greener? Subscribe to my blog now. It's free and easy.
- FAQs on Tax Credits for Buying Homes for Sale in Cape Coral
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If you have two or three hours to spend reading the information about the homebuyer tax credit, you'll be able to figure out if you're eligible. But, most people don’t have the time or patience. To shorten your learning curve, here are a few tips, pointers and frequently asked (and answered) questions about the tax credit:
Three Kinds of Homebuyer Tax Credits There are actually three kinds of tax credits:
- The original first-time homebuyer tax credit,enacted in 2008, covers the homes for sale Cape Coral that went off the market between April 9, 2008 and June 30, 2009. Rather than being a true credit, the money received is actually a 15-year, interest-free loan. In other words, it has to be paid back.
- The second tax credit, raised from a maximum of $7,500 to $8,000, doesn’t have to be paid back. If you bought a home between January 1, 2009 and November 30, 2009, you may be eligible.
- The third homebuyer tax credit,enacted in November 2009, is actually an expansion and extension of the second credit. It extends the deadline of November 30, 2009 to April 30, 2010 and expands the credit to include long-term homeowners who want to buy a new residence.
Tax Credit Qualifications
Just because you buy a home between April 9, 2008, and April 30, 2010, doesn’t mean you automatically qualify. Each homebuyer tax credit has its own eligibility requirements. For instance, the home has to cost less than $800,000, if bought after November 6, 2009. Long-term owners have to have lived in the same home for five consecutive years of the past eight. There are also income requirements, as well as other factors.
Automatic Ineligibility
To receive the homebuyer tax credit, there are a few things you absolutely cannot do. For example, the home you buy has to be a principle residence, which means it's the one you live in most of the time. You can’t buy it for business. As well, the home you buy has to be in the U.S.
Another “can’t do” is selling the home or converting it to rental property. You have to live in the home as your permanent residence for at least three years. If you don’t, Uncle Sam will want the money back.
There are many great homes for sale in Cape Coral, and one of them might just be your dream home. However, if you plan to purchase and claim the homebuyer tax credit, make sure you know the facts first.
Have questions about the homebuyer tax credits? I can help. Call me at 239-699-0142 or email me at liloc@att.net for more information.
Lilo Clacher
Realtor, e-PRO, CFS, Staging
- Cape Coral regonized one of the top 10 most affordable housing markets in the world
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The Cape Coral/Fort Myers area was recently recognized as being one of the top 10 most affordable housing markets in the world, according to an international survey.The survey originated from Demographia Inc., which ranked Cape Coral/Fort Myers seventh in the world.
View the full report.
Lee County was behind some of the most economically depressed areas in the nation, including Detroit, Flint and Lansing, Mich.
According to Realtor statistics, the median home price in the greater Lee County area was between $89,000 – $90,000 in December 2009.
A total of 1,340 homes were sold in that month, an improvement of more than 300 homes from December 2008.
Realtors on both sides of the bridge are not surprised by where Cape Coral and Fort Myers ranked on that list.
They say now is the time to buy, especially if you’re someone who’s looking to stay in the new home for three to five years.
“It’s extremely affordable right now,” said Christie Knight, president of the Realtor Association of Greater Fort Myers. “We strongly believe our momentum will increase because of the extended tax credit for first-time home-buyers, and because interest rates are historically low. We feel very confident.”
The inventory of existing homes has decreased year over year, and Realtors are feeling optimistic about 2010.
Most feel the bottom has already been hit, and there isn’t anywhere to go but up, though a new round of foreclosures is expected to hit the market sometime soon.
Paula Hellenbrand of Encore Realty and a former president for the Cape Coral Association of Realtors said the number of foreclosures is deceiving, and that many of those properties are “evaporated” before they ever hit the market.
She added that now is the time for first-time home-buyers to seek out that dream home, as not only has the tax credit been extended, but companies like Fannie May are instituting 15-day waiting periods for owner occupied properties so home-buyers are in direct competition with investors looking to flip properties quickly.
- Thinking About Buying a Cape Coral Condo? What You Need to Know
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If you’re thinking about buying a Cape Coral condo, it’s imperative that you know what you’re getting into, and how the past year has changed things. The rules and regulations for condominium mortgages have changed a lot in 2009…
In April, the two government-run mortgage companies, Fannie Mae and Freddie Mac, tightened their guidelines for those looking to own a Cape Coral condo or any multi-family home. The restrictions make it harder for potential buyers to get financed through Fannie Mae and Freddie Mac, which makes a mortgage more expensive.
The April policy requires that the condominium association and operations be evaluated, as well as your credit qualifications. The new requirements touch on subjects such as:
• The association’s insurance
• Financial statements
• Status of dues receivable from those living in the condo
• Who owns what units
• How many units are empty
If the condominium you’re looking at doesn’t come back with a good report, you may have to go to a private mortgage insurer. Unfortunately, private insurers are becoming even pickier; some have quit covering condo mortgages all together. To be able to get a loan, even with good credit, you may end up paying as much as 40% down to get mortgage payments you can afford.
Even if the condo is approved, however, you’ll still need to come up with 25% or try government financing. Fannie Mae and Freddie Mac say it doesn’t matter what your credit score is. If you can’t pay 25% or more in the down payment, you’ll end up with a three-quarter point add-on penalty - $750 for every $100,000 borrowed. What’s the penalty for? Not buying a “traditional,” single-family home.
What’s the moral of the story? If you want to buy a Cape Coral condo, spend more time researching than you normally might. Look for those that have at least a 50% occupancy rate. Find out if the occupants pay their dues, and if one person owns more than 10% (a big “no deal” for the two mortgage companies). Good condos are out there and available, but the rules make buying a hard game to play.
If you’re looking for a great condo that qualifies for Fannie Mae/Freddie Mac financing, I can help. Call me at 239-699-0142 or email me at liloc@att.net for more information.
- Buyer's Guide to Your Cape Coral Homes Appraisal Terms
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If you're getting a mortgage on a home, your lender will require an appraisal. This is performed by a licensed appraiser who evaluates your home and determines its value. Here is a guide to your home's appraisal terms.
· Age:
The actual age of your home is how long since your home has been built. The effective age is the adjusted age of your home based on improvements and repairs.
· Adjustments:
Comparison Cape Coral homes are usually not exact replicas of your home. The appraiser will make adjustments for things like premium views or swimming pools to bring the home values closer together.
· Appraisal:
This is the estimated value of your home based on the appraiser's documentation.
· Comparison approach:
A type of appraisal in which your home is compared with others in your area. Most appraisers use this approach because the market determines what your home will sell for.
· Cost approach:
A type of appraisal in which your home is valued based on how much it would cost to replace it if it was destroyed. This is typically used on newer constructions.
· Depreciation:
Depreciation is a loss in value due to age or condition.
· Easements:
Your electric company or local government may have an easement, or right to use your land.
· Encroachments:
When you or your neighbors have items like fences resting on each other's property, it is called encroachment.
· Market value:
This is the highest price you could expect to get for your home under normal circumstances.
· Remaining economic life:
This is the time from the appraisal when improvements become useless or valueless.
· Subject property:
Your property is called the subject property.
Let me help you through the process of buying your next Cape Coral home. Call me today at 239-699-0142 or email me at liloc@att.net for more information.
Lilo Clacher
Lilo Clacher
Realtor, e-PRO, CFS
Southern Premier Realty
1716 Cape Coral Pkwy
Cape Coral, FL 33914
TollFree: 800-830-3511
Direct:: 239-699-0142
e-mail: liloc@att.net
Website: www.Lilorealtor.com
- High Cape Coral Foreclosures Equals Great Deals
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The extension of the homebuyer’s tax credit, as well as the expansion to include upgrade homebuyers, has a lot of people looking for their dream home. Many are looking for that dream home in the listings for Cape Coral foreclosures. Why?
The Law of Supply and Demand
Quick marketing lesson: every market is dependent on the law of supply and demand. When the demand for a product is higher than the supply, prices go up. When there’s more product than demand, prices go down.
This is what’s happening now, especially with Cape Coral foreclosures. Around the U.S., the supply of homes has doubled in the past two years, reaching as high as a ten-month supply. While homebuyers have been reluctant to buy a foreclosure in the past, people are starting to rethink the situation because:
• Foreclosures are usually less expensive than traditional homes for sale. In fact, some buyers have found their dream home and bought it for pennies on the dollar.
• Foreclosed properties are generally in better condition that they used to be. In the past, foreclosed homes had a higher than average amount of repairs needed compared to other homes for sale. This is no longer necessarily true. Many foreclosured homes have been lovingly taken care of by their previous owners.
• Potential buyers of foreclosures have a wider variety from which to choose. They aren’t stuck with just one type of house in one neighborhood. For the careful new homebuyer, the possibilities really are almost endless.
Most foreclosed homes aren’t money pits. To protect yourself, make sure your real estate agent includes in the contract that you want to have the home inspected, and that if the home inspection finds major problems, you then have the right to walk away from the deal.
If you’re looking for a great home at a great price, I can help. Call me at 239-699-0142 or email me at liloc@att.net for more information.
Lilo Clacher
Realtor,e-PRO,CFS, Staging
Southern Premier Realty
Cape Coral, FL 33914
- Yes – You CAN Invest in Cape Coral Real Estate
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With the ‘pop’ of the housing bubble, many investors in Cape Coral real estate put a hold on expanding their portfolios. Risk, that four-letter word, was the topic of every conversation. However, smart investors know they can still buy real estate and make a profit.
Short-term vs. Long-term Investments
Even now, Cape Coral real estate can be a short-term or long-term investment. Let’s take a moment to examine the market:
• There is still at least a seven-month supply of homes.
• More foreclosures are hitting the market, potentially driving down the prices of homes.
• Lenders have become stricter with their lending guidelines.
• Many first-time, second-home and upgrade homebuyers are unable to meet the stricter lending guidelines, even with good credit.
If only there was a way to lower the supply of homes, match credible buyers with the home of their dreams and make a profit…
Owner Financing as a Long-term Investment
Real estate is still a viable long-term investment, but, as with short-term, it comes down to owner financing. (This is not the same as “For Sale by Owner,” although some get the two terms confused). With owner financing, the investor steps into the roll of the lender. As with a traditional lender, the homebuyer signs a real estate note agreeing to pay a certain amount each month for the cost of the home, as well as interest.
Why is this a good long-term investment? Because owner financing provides residual income. The investor receives that amount every month for the life of the loan or until the home and interest is paid off. This is good for the buyer who can’t get a loan through traditional means, and it also benefits the investor who has the upper hand in sale negotiations.
Owner Financing as a Short-term Investment
Most investors want to make a profit right away; they don’t want to wait to make their money back. However, once signed, the real estate note is a negotiable instrument; in other words, it can be sold to the highest bidder.
No matter what the Cape Coral real estate market is like, there’s always opportunity. Look around at the great deals available and see what you can make happen in 2010!
If you’re looking for a great short or long-term investment property, I can help. Call me at 239-699-0142 or email me at liloc@att.net for more information
- Sprucing Up Your Home for Sale in Cape Coral?
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A lot of owners who have their homes for sale in Cape Coral are taking advantage of the remodeling sales going on around the nation. From tools and building supplies to the remodeling agencies themselves, they're finding they can save money.
Unfortunately, a lot of homeowners are also choosing to forego the legal building permit process, trying to further save money.
Every building, occupied or unoccupied, has a set of building codes. Any changes that you make to your home must comply with those building codes, which means most home improvements, whether done by you or by a professional you hire, needs a permit. Depending on your locality, the home improvement that requires a permit could be as simple as installing a water heater.
Hire Someone to Get the Permit
The National Association of the Remodeling Industry (NARI) says hiring a contractor can actually save you money and time, even if all they do is handle the permit process. They also warn that a contractor that expects you to handle the permits is a contractor you don’t want to use.
Get the Permit Yourself
So how do you get a home improvement permit if you’re doing your own remodeling for your home for sale in Cape Coral? Submit a building plan for big projects or a description of the work for smaller projects. The plans are approved for a fee (if they comply with building codes). Building inspectors will look over the job while it’s in progress, after it’s finished or both, and make sure you used the right materials and techniques.
Cost of Not Getting a Permit
It may sound like a lot of trouble to go through, but the cost of not getting a permit can be a lot worse. For instance, if a potential buyer hires a home inspector to look over your property, the home inspector may see signs of your remodeling. They might then look for the permit record. Without one, you could lose the deal.
As well, home appraisers may look for permit records to see if a remodel changed the property value. If the work wasn’t covered by a permit, there’s a very real possibility of the escrow not going through.
If illegal home improvement is found, you might end up paying hefty fees for further inspections. You might even have to tear down sheet rock inside the house so framing, insulation and other interior work can be seen. In addition, you might have to tear out what you’ve done just so you can legalize the work and sell the home.
If you have a home for sale in Cape Coral and are thinking about sprucing it up to attract more buyers, a word of caution. Don’t skimp on the permits!
If you’re ready to sell your home, I can help. Call me now at 239-699-0142 or email me at liloc@att.net for more information.
- Getting your Home Ready To Sell
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You would never dream of inviting guests to your house without making certain preparations, so don't invite potential buyers without first making the necessary updates by preparing your home to sell. If you are like most sellers, you want to get as much as possible for your home and you want to do it as quickly as possible.
Letting Go
After you've lived in a house, it becomes much more than four walls and a ceiling. It's a home and it has a lot of good memories. Your first step to preparing your home to sell is to realize that you will take these memories with you wherever you go, but you won't be taking the house. It can be difficult to let go, but the task will be much easier if you start to think of it as a new beginning rather than an ending.
Cleaning House
An important part of getting your home ready to sell is in staging the decor for potential buyers. When you stage a home, you create an environment that is free of any personal items, such as photos and/or anything that stands out as being customized for you or your family. When a potential buyer walks through your home, they need to envision their belongings and decor without being distracted by yours. While these items may be special to you, they could possibly prevent the buyer from being able to imagine their own style complimenting the home.
In addition to removing any personal items, make sure that you remove any clutter from the home. A clean home seems larger and more inviting, whereas a lot of stuff lying around could give the impression that the home is too small or cramped for storage. Pack up any knickknacks, remove your children's drawings from the refrigerator and clean up your counter space in both the kitchen and bathrooms.
Staging Your Home
Now that your house is clean, it's time to put the finishing touches on the staging process. A solid, neutral shade in a tablecloth should be selected for the dining room table. Depending on your decor and wall coloring, a solid white, sand or ivory covering will work well. In the center of the table, a vase with fresh cut flowers (or silk, if you have allergies) will add a nice accent. Did you know that the kitchen and bathroom are two of the main selling points to any home? Keep this in mind when preparing your home for potential buyers.
The living room should have one focal point, whether it be a fireplace or breathtaking view of the outside world. If you have too many features screaming out at potential buyers, they may feel overwhelmed, so focus on one aspect and make it shine. If you have a mantle, line it with three candles that match your decor in color. Place a large candle in the center with one smaller one on each end, which will be reminiscent of a perfectly matched bookend set. A home with a stunning view should have window dressings that accent the positive, instead of hiding it. If your furniture has a design of any kind, mask it with a solid slipcover to compliment the flooring or wall color. Some homeowners also add a fresh coat of paint to their home, which will bring life back into a fading color. Turn on the lights and open the blinds and draperies to create a bright and inviting environment throughout your home.
Where To Store Your Stuff
Now that you know how important it is to remove any clutter and oversized or bulky furniture, you need to know where to put it. If you already have a new home, you can simply move it there. Otherwise, you can put it into storage until you are ready to move. It's important to leave some essentials in your former home for potential buyers to see, such as a dining room table, a sofa and chairs, bed, etc. Any additional furnishings that seem to interrupt the flow of your home, or make it feel cramped, should be removed. You do not want potential buyers to feel as though the house is too small.
Details, Details, Details . . .
As a final strategy to prepare your home to sell, make sure that you have any carpet stains removed, windows cleaned, fresh linens placed in the bedrooms and bathrooms, etc. You would be surprised how many people pay attention to even the smallest of details, so be sure to fix any small repairs that could be a turnoff for buyers. Last but not least, make sure your home looks just as good on the outside as it does on the inside. This means that your lawn should be cared for, flower beds must be maintained and any outdoor clutter must be removed.
For great tips on staging your Home visit: http://homebuying.about.com/od/sellingahouse/ht/homeprep.htm
- Pricing Your Home To Sell
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In addition to location and condition, the asking price of a home is at the top of the list of important considerations. When a potential buyer is looking for a property, they want to get the best possible value for their dollar. This doesn't mean that a home should be priced too low, but it does mean that knowing how to price your home is a must.
Know The Value
Regardless of whether you are in a buyer's market or seller's market, it's important for every seller to know the actual value of their home with the help of an appraisal. With this information, you will be able to choose a listing price that does not exceed the home's value. At the same time, you will know how to react to various offers that a potential buyer may make. If you can select a price that is affordable to a range of buyers, you may receive multiple offers thereby sparking a possible competition among the interested parties.
Do Your Homework
The asking price that you choose should not be based on an appraisal alone, but rather a combination of factors. One such factor is that of recent selling prices for comparable homes in the area known as “comps.” Important comparisons include construction year, square footage, views (if applicable), interior upgrades and additional features that make the home unique. While you're doing research, check out current listings and the asking price for each home available in your area.
Set A Realistic Timetable
In researching the sale price for other comparable homes in the area, you should also note the length of time a particular house has been on the market. Some homes practically sell overnight, while others may remain on the market for months without being sold. If you want to sell your home quickly, you should consider this when setting a price. A bargain will obviously move quicker, but it's important to make enough from the sale to feel good about your choice. If you aren't in a hurry to close, talk with your realtor about a fair starting price that's at or near the appraised value of your home.
Ask Your REALTOR® For Advice
While you hold the key, so to speak, to your house's actual asking price, most sellers will ask their REALTOR® for their opinion. After all, real estate is their business and they will be working with you through every step of the process. If you choose a REALTOR® that you trust, give great consideration to the advice they offer.
Lilo Clacher
Realtor, e-PRO. CFS, Staging
Southern Premier Realty
1716 Cape Coral Pkwy. W
Cape Coral, FL 33914
Direct 239-699-0142
Toll Free 800-820-3511
email Liloc@att.net
Web site http://www.LiloRealtor.com
- Finding Your Perfect Home
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As the old saying goes, real estate is all about location, location, location. But, there is a lot more to it than just plain geography when it comes to finding your perfect home. There are a lot of things to consider during the search because, for most, a home is the most significant purchase they will ever make.
Choose A Good Area
When searching for your perfect home, the obvious place to start is with the selection of a location. If you have children, you may want to choose a home that is close to good schools and is also located in a family-oriented neighborhood. Many people also look for a home that offers a short commute to and from work. If you are shopping within a specific price range, you can also narrow the choices by finding an area that offers the best value for your dollar.
Select A Style
The perfect home for you is one that has all of the elements that you want. Whether it's a garage, extra bedroom or bath, a large kitchen, fireplace or open floor plan, choosing the style of home that you want is an important first step in finding the perfect place to hang your hat. You may also want to consider whether you prefer a single-level or two-story home. Many home buyers also factor in floor plans when searching for a house, including those that offer an open and flowing design.
Get Pre-Qualified
Now that you know what you want and where you want it, it's important to find out how much of a home you can afford. Pre-qualification is not the same as pre-approval. With pre-qualification, your lender will request specific information relating to your income and expenditures and will offer a possible price range for you to keep in mind while shopping. Pre-qualification does not guarantee that you will receive an approval, but it does give you a good indication of how much you can afford based on your current situation.
Talk To A REALTOR®
Nobody knows the real estate business like a REALTOR®, so let them help you in your search for the perfect home. They can answer questions relating to the neighborhood, recent inspections on a particular home and any needed repairs. Because a REALTOR® has access to a number of area homes, they have the ability to show you various choices within your preferred area and price range.
Ask About Amenities
One of the most significant concerns of any home buyer is what a home has to offer. Utilities, such as water, sewer, cable, phone and electricity are just a few of the things to consider. If the home is in a subdivision that requires the payment of association dues, how will these funds be used? What amenities does the home owner's association offer? These are all questions to ask your REALTOR® when shopping for the perfect home.
In conclusion, you should know that the search for your perfect home is a journey. It may be either long or short and with or without some bumps along the way, but the greatest satisfaction will be at the journey's end and your future's beginning.
Lilo Clacher
Realtor, e-PRO, CFS, Staging
Southern Premier Realty
1716 Cape Coral Pkwy W
Cape Coral, FL 33914
Direct: 239-699-0142
Toll Free: 800-820-3511
Email: Liloc@att.net
Website: http://www.LiloRealtor.com
- Why Would Lenders Hold Back Foreclosures?
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It’s in the news and has been for several months now; financial institutions may be holding back their inventory of foreclosures and national foreclosures. Why on earth would they do that?
For those of you who are wondering what would cause lenders to hold back on listing foreclosures, here’s a little information that might enlighten:
• April 2009, the San Francisco Chronicle published a news article about the state of foreclosed homes. In the article, Rick Sharga, vice president of RealtyTrac said, “We believe there are in the neighborhood of 600,000 properties nationwide that banks have repossessed but not put on the market.” With an already glutted market, imagine what would happen to real estate if those 600,000 foreclosed properties flooded the market further.
• October 2009, CNN Money.com stated in an article, “Despite concerted government-led and lender-supported efforts to prevent foreclosures, the number of filings hit a record high in the third quarter, according to a report issued Thursday.” According to the report, one in every 136 homes – a staggering 937,840 homes - were in foreclosure.
• Financial institutions know that the foreclosures could cause a severe drop in the average price of housing. Should prices fall farther, faster, lenders would not be able to recoup their losses.
• Some may be holding a few properties back for a “rainy day” – for when the prices start to rise again.
Even though lending institutions are holding back on some of their inventory of foreclosures, there are still some great deals to be found.
If you’d like to find a great deal on a foreclosed home, I can help. Call me now at 239-699-0142 or email me at liloc@att.net for more information.
Lilo Clacher
Realtor, e-PRO, CFS, Staging
Southern Premier Realty
1716 Cape Coral Pkwy. W
Cape Coral, FL 33914
Please visit my website at www.LiloRealtor.com
- Remodeling to sell your Real Estate?
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Consumer Reports surveyed over 17,000 readers on the state of their home improvement projects. The results of the home improvement survey point out that you should definitely do your homework before doing the home improvement on your real estate.
Over half of those surveyed went at least $2,000 over budget for room additions. On basement finishing, 56% spent $1,350 over budget. Kitchen remodeling also had 56% going over budget, by $1,200. Lastly, 45% went over budget by $700 on deck additions.What was the reason? Surprisingly, they all had similar reasons:
- Plan adjustments
- Underestimated labor
- Increased cost of materials
- Special tools needed
- Unexpected system upgrades
If you plan to remodel your real estate in the near future, keep these tips in mind so your home improvement goes as planned:
- Do your research – Factor in delivery and removal fees. Make sure you know which products the contractor should have and plan ahead.
- Don’t deviate – Once you have a well-developed remodeling plan, don’t deviate from it. Those who did ended up going anywhere from $2,000 to $10,000 over budget.
- Check the contract – Make sure your contractor's contract has a set amount for materials. Some have open-ended amounts, which makes it quite easy to go over budget. Read the contract before you sign it!
- Check up on the remodeling contractor – Get the referrals and then put them to work. In other words, don’t just get a list of numbers and names, and then forget to check up on the contractor. Follow through and make sure the contractor is a good one.
A little remodeling can go a long way in helping you sell your real estate. Just make sure you know what you’re doing before you hire anyone to do it!
If you’re trying to sell your home, or looking for a great home to buy, I can help. Call me at 239-699-0142 or email me at liloc@att.netfor more information.
Please also visit my Website at www.LiloRealtor.com
Lilo Clacher
Realtor, e-PRO, CFS, Staging
Southern Premier Realty
1716 Cape Coral Pkwy
Cape Coral, FL 33914
- The Unavoidably Unavailable Home for Sale
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“I’m sorry. I know I have a home for sale, but I’m not available for questions and you can’t see it. Please leave a message after the beep.”
No More Precious Commodities
Houses are no longer the precious commodities they once were. A home for sale is no longer a rare occurrence. This is the biggest reason for the splurge of hints from real estate agents: update your curb appeal,stage the house, etc. Something seems to have been forgotten along the way: availability.
Where Were You When…?
Very rarely will anyone ever buy a house unseen. So the real question is have you (and/or your agent) been available for potential homebuyers, or have the potential buyers had to guess at what the inside of your home looks like?
Buyer agents are starting to complain: “I had this tour all lined up to show houses, called the seller agents and couldn’t get through. By the time it was all said and done, my list of fifteen homes to show became five.”
If you’re trying to sell a house, you have to make it available for buyers to view. Too many sellers think that buyers will look over the home when they (the sellers) are available. “Hey, it’s great that you have potential buyers who want to look at my house right now, but I have stuff to do. Rearrange your housing tour, set it back a few hours and I’ll meet you there at six.”
What if the potential buyer doesn’t have until six to look at your house? For that matter, what if I (as the buyer agent) can’t put your house in the last slot on the tour? Why would the buyer meet you at an inconvenient time for them when there are plenty of other homes available?
Conclusion
A lot of sellers have their houses listed as “by appointment only,” but this only works if you answer your phone to make the appointment. Others have seller agents who hold the keys, but buyer agents can’t get the keys without being able to reach the seller agent.
If you really are a motivated seller with a home for sale, remember that you have lots of competition who may be more available. Answer your phone, tweak your schedule so it’s wide open and show that you really are a “motivated seller” – make your home available.
Lilo Clacher
Realtor, e-PRO, Staging
Southern Premier Realty
1716 Cape Coral Pkwy. W
Cape Coral, FL 33914
Direct: 239-699-0142
Website: www.LiloRealtor.com
- DOM – What It Is, Why It’s Important & How It Affects Your Home for Sale
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Oh, the dreaded/happy DOM question. “How long has this house been up for sale?” If it’s your home for sale we’re talking about, you’re probably wondering about the split “dreaded/happy” bit. For that matter, whether you’re a buyer or a seller, you’re probably asking, “what the heck is ‘DOM’?”
Days On Market
“DOM” is the shortened industry term for Days on Market, used by the multiple listing services (MLS). It’s exactly what it sounds like: the number of days your home for sale has been on the market. This metric covers the time it actually goes on sale to the time the deal is closed.
Why Is DOM Important?
Remember the “dreaded/happy” part at the beginning of this article? As a buyer’s agent, I might gleefully answer, “Fifty days.” I say “gleefully”, because a house that has sat on the market for a long time is a good thing for my client. The seller is probably more eager to sell than a month before, and is most likely willing to work a deal. An eager seller makes a happy buyer in most cases.
On the other hand, as a seller’s agent, I might not be so happy about it, and for the same reason. My seller is now an eager seller. I want to get the best deal for my client, but I know the buyer has the upper hand. It is then up to me to help my client get the home sold without giving away the barn, the pool, the tool shed and the tools.
Already, you may be beginning to understand how the Days on Market metric can affect the sale of your home.
The problem with the DOM metric is that it causes buyers and agents to build false assumptions. If a home has been on the market for an above-average length of time, we start to wonder, “What’s the matter with that listing?” Even though I know there are other reasons for a home to go static and not sell, many people automatically think there’s something wrong.
Although you can’t force a house to sell, you do have control over some of the reasons for an extended DOM metric:
• The home may be overpriced – Nothing is wrong with the property itself; it’s just priced too high.
• Testing the market – Although it’s a big mistake and agents will tell you so, some sellers test the market by throwing a high price on a home they don’t care if they sell – just to see if somebody is foolish enough to take it.
• Sticking to your guns – Often, sellers get fixed on a price and won’t budge, come hell or high water. They figure they can wait around until the market can meet their price, not the other way around.
• Renovations – Sometimes, a home will go on the market in the middle of renovations. The sellers aren’t ready to let the home be seen, so it just sits there.
• Availability – A growing problem is the lack of access to a home for sale. Sadly, agents and FSBOs alike seem to be unavailable when a buyer wants to view the home. Obviously, no viewing means no sale.
Don’t let your DOM get high because of simple mistakes. If you’re serious about selling your home, remember the five reasons above and make sure you aren’t doing them.
If you're ready to sell your home with a professional who understands how to keep the DOM to a minimum, give me a call today at 239-699-0142 or email me at liloc@att.net.
Lilo Clacher
Realtor, e-PRO, CFS, Stager
website http://www.LiloRealtor.com