Are You Ready?

Do You Know What You Want?

Whether you are a first-time home buyer or entering the marketplace as a repeat buyer, you need to ask why you want to buy. Are you planning to move due to a lifestyle change or is buying an option and not a requirement? What would you like in terms of real estate that you do not now have? Do you have a purchasing time frame?

Whatever your answers, the more you know about the real estate marketplace, the more likely you are to effectively define your goals. As an interesting exercise, it can be worthwhile to look at the questions above and to then discuss them in detail when meeting with a real estate agent.

Do You Have The Money?

Homes and financing are closely intertwined. (Financing is the difference between the purchase price and the down payment, commonly referred to as debt or the mortgage.) The good news is that over the years new and innovative loan programs have evolved which require a 5 percent down payment or less. In fact, a number of programs now allow purchasers to buy real estate with nothing down.

In addition to a down payment, purchasers also need cash for closing costs (the final costs associated with closing the loan). Several newly emerging loan programs not only allow the purchase of a home with no money down, but also underwrite closing costs (check with your Lender for specifics).

Not everyone, however, elects to purchase with little or no money down. Less money down means higher monthly mortgage payments, so most home buyers choose to buy with some cash up front.

As to closing costs, in markets where buyers have leverage, it may be possible to negotiate an offer for a home that requires the owner to pay some or all of your settlement expenses.

Is Your Financial House in Order?

Those great loans with little or nothing down are not available to everyone: You need good credit. For at least one year prior to purchasing a home, you should assure that every credit card bill, rent check, car payment and other debt is paid in full and on time.

Some of this information is taken from an article from NAR (National Association of Realtors), in which I am a proud member.

How to put your home's best face forward

Chances are, as a seller, you want your home to sell quickly and for the best possible price. The key to making that happen is first, to price your home competitively, and then, make the best possible first impression on a potential buyer – realizing that in the current market, buyers have lots and lots of inventory to choose from.

Effective staging begins with the mindset that once your home is on the market, it’s no longer really “yours.” Potential buyers want to walk in and picture themselves in your home. They don’t want to see your family pictures, evidence of your travels and your hobbies, and certainly not your clutter. Anytime I begin the process of helping sellers stage a home, I recognize that they’ve probably spent several years decorating and filling it with their unique tastes in furniture and home décor to make it home their own. Sometimes staging requires undoing some of that.

Keep in mind that staging starts at the street, if a buyer were to drive by your home, what would their first impression be? Make sure your landscaping is inviting. Paint and plants are key to curb appeal. Trim trees and shrubs so that would-be buyers can see your home clearly, and it looks like it has been well maintained.

As for your home’s interior: embrace the 3Ps – 2Fs Formula: plantings, paint, pictures, fixtures and furnishings.

The entrance to your home says a lot. Be sure to make this first impression a pleasant one. The proverbial “Welcome Mat” is a great start. As the buyer moves into the other areas of your home, the most important thing that you can do is to make sure that you’ve removed all clutter, and cleaned out your closets.

Especially if you live in a small home, you want to convey that there is plenty of room, and clutter conveys the opposite message.

This can mean taking down most personal photos, rearranging or removing furniture to increase the feel of spaciousness, or simply exchanging any unnecessary knick-knacks for candles, books, or other simple items that don’t draw too much attention to themselves. I’ve heard some of my previous clients describe living in a staged home as “hotel living.”

Staging is simply an act of accentuating the value of your home based on first impressions.

While it might seem time consuming on the front end, chances are that a well-staged home will sell quicker and help you to get where you want to be much sooner.

Food Bank Day

Keller Williams Agents in Amarillo collected food for THE HIGH PLAINS FOOD BANK. A non-profit organization that collects and distributes donated, surplus food to agencies in the Texas Panhandle.
RED (Renew, Energize and Donate) Day is a new Keller Williams Realty service initiative dedicated to improving our local communities. Keller Williams is "Giving where we live".