What Do Buyers Want? Sprinkles or Filling?

Most folks used to be content with a nice slice of yellow cake on a special occasion. Now people want elaborately flavored and decorated cupcakes every day of the week.

Some home buyers have also seen one too many cupcake shows on HGTV and think more about the sprinkles than is good for them. But even these buyers may not be willing to pay for for everything they say they want.

An over-improved house -- if over-priced to match -- can be harder to sell than the more modest home. Very few buyers will pay for extravagant personal choices that the previous owner made.

So what do buyers really want when they are choosing a home?

1) Buyers want a deal: only a few buyers say "steal" a house but they do want to know that they are getting the most value for the money.

2) Buyers want a clean house. Not just a tidied-up house, but a house with clean baseboards, windows, siding, refrigerator and cabinets. Clean carpets are essential, no one needs to know you got a new puppy last year.

3) Buyers want a house with a neutral palette to make it easy for to imagine their unique decorating plans.

4) Buyers want current light fixtures and hardware. Light fixtures are essential to showing how nice a room can look -- or not. Buyers prefer brushed nickle, stainless or bronze finish hardware.

5) Buyers want updated kitchens and baths. You may not be able to completely remodel your kitchen, but some freshening up can make a big difference.

6) Buyers want a garage that looks big enough for their cars. A 2 car garage needs to look large enough to hold 2 cars, not 1 car and piles of stuff. Rent a storage locker for excess.

7) Buyers want rooms that look like their intended purpose. A dining room needs to look like it's for eating and entertaining, not a sports locker or data center.

8) Buyers want a house with reasonable energy costs. While most buyers in our area won't pay substantially more for "green" and "energy efficient" improvements, they do want to know what it will cost to heat and cool the house.

9) Buyers want a house that fits their stage of life and activities. Don't be discouraged if your house isn't a perfect fit for all buyers but you should market aggressively to your target.

10) Buyers want a place to make their own. Make your home into a house that the next owner can easily envision himself living in.


Compliments of Leslie Ebersole

Make your home affordable

This is full of valuable information. Find out if you are eligible to make your home more affordable.

BE CAUTIOUS of sites or Foreclosure programs that ask you to give them money or sign your deed over to them for a certain amount of time.


http://www.makinghomeaffordable.gov/

Trulia Newsletter

Hey Everyone,

Here is some good information from Trulia in regards to buying or renting.



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March 26, 2009 Past Newsletters

Should you rent or buy right now?

Check out this unique Chicago, IL condo $325K, 3bd/2ba/1,500 sqft
With an “iffy” economy and the recent changes in first time home buyer incentives , figuring out if you should rent or buy can be tricky. Can you afford the down payment? Or, is it cheaper to rent? Luckily, here are two awesome tools to help you make that hefty decision. First, find a home you like. Then, try the Rent vs. Buy calculator to find out how much you can save by renting or buying. Or, use the Mortgage calculator to get an idea of what your monthly payments would be. What do you have to lose?
Rent vs. Buy calculator

Mortgage calculator


If you can’t decide whether now’s the right time to rent or buy in your area, this tool’s for you. Compare the cost of owning versus renting a home to see which option may be a better fit for you.
Use our mortgage calculator to estimate total monthly payments for your future home as well as the total amount due over the life of the loan.



House of the week Want a Coke with that house?

This Hotlanta mansion definitely caught our eye with its Southern charm, especially since it was the previous pad of former Coca-Cola Company President and philanthropist Robert Woodruf. The 1930s Regency-style house boasts blood-red dining room walls that can only be characterized as flamboyant. It certainly fits the neighborhood air, the aptly-named Tuxedo Park.


How to determine your homeowner's insurance coverage sponsor

Your home may be the biggest investment you'll ever make. So if you're serious about protecting that investment, here is some important information to consider when determining the coverage amount for your home. 1. Make sure that your home is insured for at least 100% of its estimated replacement cost. 2. Understand the difference between market value and replacement cost for insurance purposes. 3. When buying a new home, be sure to obtain a replacement cost estimate. Read more about homeowner's insurance » These tips brought to you by State Farm Insurance.

Celebrity Home Sightings Get your superficial fix here.
Jay Cutler, star Quarterback for the Denver Broncos, puts his house in Parker, CO for sale
$2,000,000 4br / 7ba / 7,516 sqft

Former home of Newlyweds couple Jessica Simpson and Nick Lachey in Calabasas, CA gets listed for $3.9M
$3,995,00 5br / 6.5ba / 6,483 sqft

Seattle Mariners star Ichiro Suzuki lists his luxury home with unobstructed views of Lake Sammamish
$1,750,000 5br / 4.5ba / 4,920 sqft

Advice & Opinions Ι Get insightful, fast, FREE advice on home buying & selling
Blog of the week
You want to remodel, but how? We are hearing that a lot of people (would-be clients, if you will) are reaching a mental road block caused by lack of information. They have a home project they want to take on...maybe even need to...but all they've heard is how difficult financing is obtain these days or that construction loans just aren't available… Written by Jamie , Other/Just Looking in Bellevue, WA Read more or comment »

Question of the week
Q: I want to take advantage of the $8K tax credit; can I delay the close date by a month? Asked by Gixxersixxer, Home Buyer in FS, CA A: It never hurts to ask. Contracts are a 2 way street, and as long as the request is legal, and both parties agree, you can change just about anything. Your request seems very reasonable especially since there is nobody living in the house who would be affected... Answered by Jim Cheney , Real Estate Pro in Santa Rosa, CA Read more or reply »
Real Estate Eye Candy Trulia picks
Recent trend: Granite countertops
Why not save yourself a few bucks and consider entertaining at home. Bonus: You can show off those trendy granite counters to mom.

Baltimore, MD $314,900 2br / 2ba / 1,152 sqft Calculate mortgage

Nashville, TN $369,000 3br / 3ba / 1,731 sqft Calculate mortgage

St. Charles, MO $240,000 3br / 2ba / 1,854 sqft Calculate mortgage

Is your home fading away?

In today's real estate market you are not alone if you are experiencing periods of financial instability and facing numerous hardships in trying to keep up with your mortgage payments and paying your monthly bills.
Each day can be a struggle trying to cope with the unbearable stress and heartache knowing there is a possibiity that you might lose your home to foreclosure or may have to file for bankruptcy.
Do you know that foreclosure is not the only option? Don't let his happen to you because you didn't know what they are.
An alternative to foreclosure is pursuing the option of a short sale. A short sale is the sale of your home negotiated with a bank or mortgage compnay to accept less than what is owed on the property
Did you know that banks prefer to do a short sale over a foreclosure? Banks are not in the business of owning property and do not want to foreclose on you.
In order to qualify for a short sale, you must have a demonstrable financial harrdship. You will have to prove this hardship through a signed letter that will be submitted toyour mortage company along with other documentation.
What is an Acceptable Hardship?
A hardship can be defined as a material change in the financial situation of a homeowner that is or will affect their ability to pay their mortgage.
Examples of acceptable financial hardship are:
1. Loss of Job
2. Business Failure
3. Damage to Property
4. Death of a Spouse
5. Death of family members
6. Severe Illness
7. Inheritance
8. Divorce
9. Mandatory Job Relocation
10. Medical Bills
11. Military Service
12. Payment Increase or Mortgage Adjustment
13. Insurance or Tax Increase
14. Reduced Income
15. Separation
16. Too much debt
17. Incarceration
If you are finding yourself is a situation where you need to sell, owe more than your home is worth or have been late with your mortgage payments a short sale may be an option for you.
Disclaimer: This post is not intended to be or to provide legal advice. We recommend that you speak to your attorney and your tax accountant regarding specifics and to find out if this is the best option for you in your situation.
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Compliments of Donna Bigda

Are you prepared to live in Your Parent's Basement?

Its been awhile since I posted so I owe you 2 posts:)

Ok, so the title is a scary thought to most of us, and I won't say that the picture I am painting applies to all, but there are some reading this or others you know that will be experiencing this reality soon.
The Economy
Watching the news lately is painful and everyday it seems to get worse.
Two days ago it was about the stock market dipping below 7,000 points. Today, two stories are dominating the news. First Citigroup's stock has fallen under $1 per share, which considering their 52 week high was over $27, is simply ridiculous. Citi has its hands in so many pies, the destruction of this company would have consequences that are hard to imagine.
GM was also in the news today. An accounting firm basically said that there survival is doubtful the way they are going. Bankruptcy seems likely, the company ceasing to exist is a possibility.
What does this mean for Housing?
If any or most of these things come to fruition it means job losses. It means foreclosures. It mean bankruptcies. This is very good news for the financially stable as they will continue to be able to buy homes at prices that seem way to good to be true. But where do the jobless and homeless turn? Mom and dad might be the answer.
Mom and Dad, can I come back?
Most of us would never dream of having to move back in with our parents, but for many in America this is becoming a reality. A sad, terrifying reality for many, or at least an embarrassment for most. It is tough to "fail" and have to go back to the place where you were taken care of as a child, only to have to be taken care of again.
In other cultures this is actually not that big a deal. Many people live with their extended families to save money and it is considered somewhat normal. A crowded house to some is a good thing.
The larger question that should be asked is why do I no longer own my home and my parents still have theirs and in many cases it is paid off?
The answer lies in a generational shift that has occurred from our parents to us. Debt was frowned on more when our parents were originally buying homes. Banks actually wanted you to put some of your own skin in the game (they are getting back to this now.) Once they were in them, they stayed in them. My parents have lived in the same house for 30 years. The generation before them was even more removed from us today. My mother grew up in a household of 7 people with one bathroom and about 1000 square feet. People made due, they got by somehow.
Today is different. We need BIG, we need a room and bathroom for everyone in the home. When we can't pay for things we charge them and hope for money tomorrow to pay the bill. What happened to us? When did enough not become enough anymore?
The reality is I think this country has spent its way back into how things use to be. I am sensing a shift in thinking towards small is okay and big is unneeded.