Pricing Decisions

Pricing your home is one of the most important decisions you must make when selling your property. Some sellers want to price their home based on the return they would like on their initial investment, while others will base the price on what they need to buy their new home. Location, condition, and accessibility are three other variables that will affect the price of a property.




It is crucial to price your home correctly from the beginning because it will not sell if it is overpriced. Don't make the mistake of thinking that you can reduce the price later because you will have already lost many potential buyers. The motivation of the seller is another very important factor. The higher the seller's motivation, the lower the price, and low motivation will mean a higher price.

The state of your local real estate market is one of the strongest determining factors when pricing your home. A professional Realtor will be able to guide you through the pricing pitfalls with a written market analysis that includes the selling prices for similar homes in your area

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Storage Space

No matter how much storage space they have, most people feel that it's never enough. Most buyers put storage space high on their list of priorities for a new home, and all sellers must face the minor indignity of having prospective buyers open all of their closets to determine the size of each one.

Even an enormous closet looks small if it is cluttered. Your closets should be as organized as possible while your property is on the market. If you have too many things, have a yard sale, rent a storage unit temporarily, or make a tax deductible donation to a local charity. When you finish putting all of your closets in order, then attack the other storage areas. The areas that you have for storage will look much more spacious and attractive if they are neat and well-organized.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Tenant/Landlord Relationship

It is important to attract and keep great tenants when you own investment property. A good way to begin a positive tenant/landlord relationship is with clear communication about what you expect from your tenants and what they can expect from you.

The written lease agreement spells out the legal obligations of each party--the landlord must ensure that the property is habitable and complies with local codes, and the tenant must pay the rent in a timely manner and not damage the property. Make sure that the terms of the agreement are stated clearly in straightforward language.

Let the tenants know of your commitment to keep the property in good repair and of your desire to know about little problems before they become serious. When it's time for the tenants to move, offer to provide a reference letter if they need one. This is a nice way to say "thank you" to them for having maintained the property during the terms of their lease. Good communication can help you to maintain the quality of your investment.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

What Is Fair Market Value?

What is the best price for some real estate? Mortgage lenders, appraisers, and real estate brokers use what is called the "fair market value" (FMV). FMV is defined as "the price that a buyer is willing to pay and the seller is willing to take". Sounds great, but how is this price determined?

The starting point for determining a fair price may be an opinion of the value or "competitive market analysis" : a CMA. This analysis uses information on similar properties which are: 1) currently for sale, 2) already sold, or 3) expired listings (which did not sell). Local, national and international trends and market conditions must also be considered.

By comparing similar properties of each type and the market conditions, appraisers, lenders and agents come very close to the maximum price that the market will bare for that home.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Need Title Insurance

Title insurance is one of the closing cost items on the closing statement when a home is purchased. This insurance protects the buyer from defects in the title that are not discovered until after the closing. There are two kinds of title insurance--coverage that protects the lender for the balance of the mortgage if the buyers have a loan, and coverage that protects the buyers' equity in the property.

It is prudent to purchase owners' coverage because most of the title problems that arise after a closing are not from a sloppy title search, but are the result of inaccurate information in the public records. The ownership chain goes back a long way, and fraud or misrepresentation anywhere in the chain could mean big problems. Title insurance will protect you if a wife or husband did not properly sign off on the ownership papers or if the property was sold as part of an estate that was later disputed. Most people do not have to deal with the title insurance company after the closing, but this coverage could save your investment if a problem arises.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

FHA Advisory

If you are in default on an FHA-insured mortgage, and the lender intends to foreclose, you should know about the Mortgage Assignment Program. You will have to provide certain information to the FHA to apply for this program. To be considered eligible for assistance, the home must your primary residence, you must be at least three full payments behind on the mortgage, and the reason for your failure to make the mortgage payments must be due to circumstances beyond your control, such as unemployment. The FHA must be reasonably certain that you can resume making the payments at the end of 36 months and that the accrued deficiencies will be paid back before taking over the loan.


The Veteran's Administration also has a mortgage assistance program for those who have VA mortgages.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net
Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

The Title Search

The people who do title searches have an extremely important job. They must ensure that the sellers really own the property being sold and that all liens against the property are being paid off as a result of the sale.

If the seller has had financial difficulties, for instance, and didn't pay his bills, there may be judgments that must be satisfied on or before the closing. Someone in addition to the party who signed the sales agreement may have an interest in the property. If so, it will be necessary for that person to sign the sales agreement and the deed that transfers ownership to the new buyer. The preliminary title report will also show any easements that run with the property. In addition, the Title Company will go back many years, examining what is called the "chain of title". If you learn that the property you are buying has title problems, don't panic. Most of them are resolved easily and in plenty of time to avoid delays in the closing.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Need Mortgage Insurance

If you have a mortgage on your home in town, you have probably gotten several offers from insurance companies that sell coverage to pay off your mortgage if you die unexpectedly. Insurance is a good idea in most cases, however, mortgage insurance is usually a poor value.

If you read the large print, it looks like the policy will protect your family if you die before your mortgage is paid off. All you have to do is fill out the paperwork, have a physical exam, and pay a little more each month. The fine print, however, may limit the coverage to accidental death. If there are two people on the deed of trust, the policy may pay only half if one of them dies. If you are considering mortgage insurance, call a good insurance agent before you send in your forms. Insurance experts usually advise against separate policies to cover various contingencies. A regular term life insurance policy equal to the amount of your mortgage will probably offer you a lot more coverage for your money.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Conyers, GA Land/Lot For Sale From RE/MAX

Conyers, GA Land/Lot for Sale From RE/MAX

Evaluating Neighborhoods

When sellers think about curb appeal, they usually think about their own front yard and the effort required to keep the house looking good. When prospective buyers look at homes, they evaluate the house and the neighborhood. If you need to move, the price that your neighbors get for their house could have an impact on the value of your home.

This knowledge makes its own case for doing your part to make the neighborhood appealing. The time to take remedial action is before you think about moving if your house is the one with peeling paint, over-grown bushes, rusty bicycles, and cracked sidewalks. The value of your home will be largely determined by the recent selling prices for comparable properties, and neighborhood "eyesores" do not help to keep the values up. Even if you don't feel that you will ever move again, you will enjoy living in a house that is a real source of pride.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

The Settlement Statement

The buyer and seller will sign the settlement sheet at the closing, detailing all of the charges that each party has incurred during the sale of the house. It is crucial to go over the sheet for accuracy and to make sure that you understand everything on it before you complete the transaction.

When a contract is negotiated, each side agrees how to divide the loan fees (or points), as well as the other closing charges, such as state or local taxes or escrow fees. Your Realtor can go over the settlement sheet and help you compare it with your purchase agreement. The seller's charges usually include the brokerage fee, the mortgage payoff, and any charges involved in clearing the title, as well as pro-rated property taxes, payments for termite treatment and escrow for repairs that could not be completed by closing. The buyer's costs include charges for the loan and title searches, insurance and any other legal fees. A good closing officer will go over the settlement sheet line by line, explaining each item and correcting any misplaced charges.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net
Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Moving Day

The closing on the sale of your home is Friday morning at 11:00, and that afternoon at 3:00 you are to complete the transaction on the house you are buying. Your sellers are completing the purchase of their new house on Monday. As sellers, each of you is obligated to leave your house vacant and clean at the time of the closing, and you will take possession of the home you are buying after the closing.

If you are faced with a game of musical moving vans, you may want to negotiate with your buyers or sellers to remain in your old house for a few extra days or move your belongings into the new home a little early. You should draw up a written agreement which details your arrangement, such as the amount of rent, the move-in or move-out date, and any agreements regarding utilities, insurance, or a damage escrow. If you need to make special arrangements for your move, let your Realtor know and work out the details as early as possible before the closing.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Energy Efficiency

Home buyers are increasingly concerned about the rising cost of energy. It is common for buyers to ask about utility costs and the energy efficiency when they are considering a home. One way to reduce energy costs is as simple as changing your light bulbs--from standard ones to compact fluorescent bulbs which are designed to fit most standard light fixtures and lamps.

The initial purchase price of compact fluorescent bulbs may seem a little steep--they average between $13 to $20 per bulb, but they last at least 10 times longer than a standard light bulb and will reduce your energy bills significantly. Manufacturers estimate that during the life of a single bulb you will reduce your electric bill by over $40. As an added bonus, the electric company will be able to reduce carbon dioxide emission by approximately half a ton per replacement bulb. Compact fluorescents don't work with dimmer switches, and if used outdoors, you should make sure that the fixture is well-ventilated and protected from rain.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Termites

Most home purchase agreements have clauses that deal with termites. After the agreement is ratified, a termite inspection is arranged. Before the closing can occur, the sellers must be able to produce papers signed by a licensed exterminator stating that the house is free of infestation and any termite damage has been repaired.
Before you sign an agreement to buy or sell a home, you should read the termite clause and be sure that you understand it. Who selects the exterminator and pays for the inspection? If bugs are found, who pays for the treatment? Are the sellers obligated to repair any damage and have they placed a limit of the dollar amount they will spend on those repairs? If treatment is required, the buyers may want a chance to discuss the options with the pest control company, especially if someone in the family is sensitive to the chemicals used to control the termites. Ask about the exterminator's guarantees or service contract options.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Moving Companies

Contacting different moving companies is one of the first steps in moving to a new house. You will find a variety of service options and price ranges from which to choose, whether you are moving across town or thousands of miles across country.

Call several companies for estimates. Ask each company exactly how their charges are calculated and what is included. How much insurance is included in the estimate? What is the cost for additional coverage? Are there special provisions for fragile or unusually valuable items? Is the delivery date guaranteed? If economizing is important, ask if there are ways to cut down on the bill by providing your own boxes and packing yourself. Household movers are competitive, and comparison shopping can help you get the best value for your moving dollars.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net
Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Deadlines

Both buyer and seller should be aware of all of the deadlines in their purchase agreement. Each contract is different, but there are usually time limits covering the structural contingency, the financing application, the loan commitment, and the closing.

If you are careless, you could lose your right to ask a seller to pay for needed repairs. There may be a limit on the time the seller has to respond to the buyer's request to complete repairs that are not required by the contract. Failure to apply for your mortgage on time may place your deposit at risk if the loan is denied. In many cases, the agreement can be declared null and void by the seller if financing is not approved within the time frame set forth in the contract. A delayed closing can cost the sellers money, and they may ask the buyer to reimburse these expenses.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Home Inspections

If you have a house for sale in town, your buyers will probably include a structural inspection contingency in the contract which will allow them to have an expert check the house and the major systems and appliances.

A professional structural inspector can help buyers to "know" the house and to feel comfortable with it, but the inspection does not result in a pass or fail grade. The buyers will learn important things about the house, such as where the water cutoff valve is located, in case of an emergency. The inspection may also help buyers set up a budget for repairs and determine if they want to invest in cost-effective measures to increase energy efficiency.

Buyers rarely back out of a sale after a structural inspection. Even if there are problems, you have the opportunity to negotiate a compromise and avoid any obstacles that could seriously threaten the sale.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Lender's Appraisal

Many sellers think that the sales price of their home is determined entirely by what they are willing to accept and what the buyer is willing to pay. There is another variable that can complicate the sale of a home--the lender's appraisal.

To protect the interest of their investors, the mortgage lender's broker hires an appraiser to give an independent and objective evaluation of what the property or home is worth. If the appraised value is lower than the selling price, the seller will be glad that he has enlisted the services of a professional and experienced real estate agent. The agent can give the appraiser information about neighboring homes that have sold recently that support the seller's price. If an appeal to the appraiser is unsuccessful, some negotiations may follow. Both the seller and buyer may have to make concessions to make the transaction go through. The bank may ask the buyers to increase their down payment or the buyers may ask the sellers for a drop in price.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Pricing

You have just found the perfect new house for your growing family, but it is a bit out of your price range -- unless you can get an extra $20,000 for your home. One can never be sure how much a house will sell for. It is always possible to list a home for a little more than it may be valued in the hopes that you could get lucky. After all, it just takes one buyer, and the market is busy!

However, if you want to sell your home faster, maybe you should consider taking less than you hoped to get. Don't buy and sell so close to the bottom line that you become concerned that the numbers aren't as close as you would like them to be. If you set your price within 5% of the market value, you greatly increase your chances of getting good offers that will result in a pretty fast sale (depending on market conditions). There may be other ways to increase your buying power and get you into that new house, such as adjustable rate mortgages or seller financing. When you are selling one home and buying another, you will need more than luck and the possibility of finding one person who may be willing to pay the extra amount you would like to get. Remember, you will need a highly professional real estate agent who can give you solid advice on how to make the transaction work for you.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Remodel or Move?

Your family has outgrown your home in town, but you have roots in the community that make it difficult to leave. Is remodeling the solution?

Get professional advice before you jump into a major renovation project. Decide what changes you want to make, and get bids from several contractors. When you have an estimate on the cost of the project, talk to your Realtor to determine if these changes will be cost-effective. Over-improving your home may make it difficult to get your money back if you sell it soon.

It is a good idea to talk with friends who have remodeled to get a realistic picture about working with contractors and to determine how disruptive the project will be to your family life. Remodeling a home is a major undertaking, so be sure that it is the best solution for you.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net
Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Investment in Your Neighborhood

Some neighborhoods have the reputation of being terrific places to live, and the difference is often the investment that people make in their community. These neighborhoods embody a community spirit that reflects the pride of the people who live there. In addition to the financial investment the residents have in their property, they also invest their time by participating in local affairs.

How can you become active in your community? You can participate in your neighborhood association by volunteering to serve on committees, and you can keep abreast of issues that could impact your area by testifying at hearings or writing letters to local government officials. There may be ways that you can help your neighbors if they are having a hard time with a serious illness or job loss. If your children are grown, you can make a tremendous difference by doing volunteer work in after-school tutoring programs. When some people begin to get involved in making a difference in their neighborhood, others soon follow.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Relocating

Moves are right up at the top of the list of stress-producing situations, and it is not uncommon to feel a little overwhelmed by the process. You must sell your old home, pack up, leaving behind many friends and memories, then get settled in the new area.


Professional Realtors understand the difficulties--and rewards-- of making a major move. By listening carefully to what you want and need, your agent will get a feel for the style of home, neighborhood location and amenities you are seeking. He or she can also point you in the right direction for information about schools, shopping, public transportation, and groups of people who share your interests. If you are considering a move, call a professional real estate agent for information about the area you would like to live in. Discuss the type of house you are looking for and your price range so that the agent can acquaint you with the available homes that will meet your criteria when you are ready to begin looking.

Dallas Chambers
RE/MAX Agents Realty
770-595-1541
dallasc@remax.net
http://www.dallaschambers.com/
 
Each office independently owned and operated.  All information deemed reliable but not guaranteed.

Interior Decorating

Many people recognize a decorating style they like when they see it, but they find it difficult to put together colors, fabrics, furnishings and window treatments to create the look they want.

Where can you find a good decorator? If you like your friends' home, ask them for recommendations. Many communities have decorator showcases where you can see first hand the work of several local designers. Furniture retailers sometimes hire professionals to assist their customers. Before you commit to working with a designer or decorator, you should sit down and discuss their fee structure, your taste and goals, and your budget. Pay particular attention to whether the person is a good listener and communicates well. Whether you are trying to make your home look wonderful in order to sell it or want to fix up a new home, the investment in professional advice can save you costly mistakes and make your home a reflection of your good taste.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Inspection Contingencies

Many purchase offers today have a contingency clause which allows the buyers to have an inspector or professional expert to inspect the property. If there is a significant defect in the property, the buyer can cancel the contract without losing the earnest money deposit. Such contingencies may make a seller nervous, but they are an excellent procedure for both the buyer and the seller.


The time period for inspection contingencies is negotiable. In most parts of the country, the buyers have about a week in which to cancel the contract if the structural inspection reveals a serious and consequential defect.

The positive side to such contingencies--the inspection usually addresses--and overcomes--the buyers' misgivings and confirms their decision to move ahead with the purchase.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Re-Financing

Interest rates fluctuate as changes occur in the general economy. If you purchased your home when interest rates were higher, you may want to consider re-financing your loan at a lower rate.


You will have to apply for the new mortgage and have your current income eligibility assessed. Depending on how long you have had your present loan, a current appraisal may be required. There are closing costs, such as attorney, title fees, recording and notary fees, and appraisal charges.

The biggest factor in your decision should be the length of time you plan to remain in your home. If you will be there for only a year or two, it may not pay to re-finance. If you will be in your home longer, re-financing could provide you with lower mortgage payments. Your Realtor can help you work out the numbers and can refer you to reputable lenders.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

How Do Bridge Loans Work?

You already own a house, but one day you hear that the house you have desired for years is on the market. Out of curiosity, you call your favorite Realtor and arrange to see if the inside of your dream house is as terrific as the outside, and--suddenly you are in love. The sellers need a relatively fast settlement, and are not in a position to accept an offer that is contingent on selling your home before closing on the new one. While you are confident your house will sell fairly quickly, you can never be sure in a fluctuating market.


A bridge loan may be the answer to your situation. Many lenders specialize in providing short term loans for just this type of situation. The principal and interest is paid back when you close the sale of your present house. If the market in your area is strong and there is a good possibility of selling your home quickly, or if you are willing to offer your home at a price that will move it in a sluggish market, then a bridge loan is a tool that could make the home you love a real possibility. A good Realtor and a knowledgeable loan officer are the team you need to turn this kind of possibility into your future

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Points or No Points

Question: Which offers you the best deal, a low interest rate mortgage with "points" or a higher interest rate loan with no "points"?

Answer: It depends. Consider a 30-year, fixed-rate mortgage for $100,000 at 8 3/4% interest and no points. Monthly principal and interest payments would be $787. To qualify for an 8 1/4% loan, you have to pay three points, or $3,000. Payments on this loan would be $751, a savings of $36 per month. How can you determine which loan is best?

First, calculate how long you will have to live in the home in order to recoup the $3,000 that you paid in points. Divide $3,000 by your monthly "savings" of $36, then divide that answer (approximately 83) by 12 months per year for the number of years it will take to recoup the points (approximately 7).

If you are fairly certain you will live in your new home for seven years or more, then the loan with points is the better value. Other factors may influence your decision, however, such as how much cash you have for closing and your monthly budget. Such calculations will give you the data you need to make a decision.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net
Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Repairs

Typically there is a chain of events that occurs when an offer comes in on a home. After a meeting of the minds, the buyer often brings in a home inspector who usually finds a few items that need to be repaired. The Realtor gives the homeowner a list of the requested repairs. What comes next?

The seller takes care of the repairs in most transactions. Many sellers wait until the week before the closing to call someone to do the work (they want to be sure that they are going to make it to the closing table before they spend money on repair work).

If you are responsible for making repairs to a home you are selling, make sure you have the work done well in advance of the closing date by licensed professionals who will stand behind their work. If the work is done at the last minute and is incomplete or unsatisfactory, it could cause complications at the closing. You should provide the buyers with all the receipts and the names of the persons to contact in case there is a problem with the repairs.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Home Warranties

You have just found a new home that you love and are planning to place your current home in town on the market. When the day arrives for your first open house, you begin to think of all of the things that could break down or go wrong. The air conditioner may stop working or your trusty old dishwasher might "bite the dust" the morning that the structural inspection is scheduled. Purchasing home warranty protection is one way to reduce the worries for you and your buyer.

The most popular warranty plans cover the home from the time it is listed until one year after the closing date. Although the details of these policies vary, there is usually a standard deductible of $35 to $100 (this amount differs from state to state). Many sellers purchase these warranties to make their property more attractive to potential buyers and to limit their liability in the event that a problem is discovered after the closing.

Dallas Chambers
Re/Max Agents Realty
770-595-1541
http://www.dallaschambers.com/
dallasc@remax.net

Credit Card Sense

Most people know that a checkered credit history can disqualify you for a home loan, and maxed-out credit cards can do the same thing. But what most people don't know is that merely having a large number of credit cards, even with low balances and a history of timely payments, can disqualify you for a home mortgage loan just as quickly.


According to credit experts, having a number of credit cards can be just as detrimental to the granting of further credit as a history of late payments. Lenders look at it this way: If you have ten credit cards, each with a limit of $5,000, that means you have the potential to run up $50,000 in debt virtually any time you choose. That mere possibility makes you a greater risk, from their point of view.

The moral of the story? If you are planning to apply for a home loan in the future, keep only those credit cards you actually need to use and cancel the others.

Dallas Chambers
RE/MAX Agents Realty
770-595-1541
dallasc@remax.net
http://www.dallaschambers.com/

Cosmetic Flaws

Many buyers make home buying decisions based primarily upon emotional reactions to the homes we show them. A freshly-painted house with clean windows and waxed floors will sell for top dollar, while a nearby home which needs a lot of cosmetic attention languishes on the market, even with a much lower asking price.

If you find yourself in the position of comparing two such houses, put your imagination to work. If the only difference is paint, cleaning, and carpeting (or getting unsightly furniture moved out), remember that these are fairly low ticket items that you would probably choose to do even if the house is in good shape. If you focus your attention on the location and the condition of the structure and the major systems, you may be able to get a "not-very-rough" diamond at a great price. If cosmetic problems make you nervous about the home, the structural inspection can answer most of your questions.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Completing the Sale

Some buyers and sellers arrive at the closing feeling terrific about the transactions--they like each other, they like their new home, their Realtor, and even the lender. Others feel stressed out and are complete nervous wrecks. Whether you are the buyer or the seller, you will play an important part in determining which of these scenarios characterizes your closing.

The professionals who are involved in real estate transactions work hard to make things go as smoothly as possible, but the quality of the transaction often depends not so much on what happens, but how you react to what happens. If you communicate confidence in the professionals who are helping you, the atmosphere will remain positive even if there are complications. Real estate transactions are inherently complex. One of a Realtor's most important responsibilities is to complete the sale, even if everything that could possibly go wrong occurs.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Comparables

To take much of the guesswork out of your consideration about whether a particular property in town is a good investment, you can check on the actual selling price of similar homes in the neighborhood.


Some sales information, such as the selling price, the financing terms, and the transaction dates, is public information. Your Realtor will have record of all recent sales. You can obtain information about properties based on actual sales, rather than from the neighbors (they could be wrong!). Driving by comparable homes can give you an idea about how they compare with the property you are considering. Your Realtor may have seen these homes and can give you additional information to help you make a decision.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Closing Tips

The closing table is the ideal place to sign papers, trade keys, and drink a toast to the new homeowners. Sometimes that setting is filled with tension and pressure as each side tries to work out important details of the transaction at the last minute.

How can you help make your closing a relaxed and happy one? First, try to get the details worked out ahead of time. There may be a few unresolved issues, such as repairs that were not completed, a disappearing dining room chandelier or a pre- or post-closing occupancy agreement. The atmosphere doesn't need to become adversarial, and minor upsets should not threaten the entire transaction. If you anticipate a problem, no matter how minor it may seem, be sure to communicate the situation to your Realtor in advance, so that it can be handled before it has a chance to escalate.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Ask Questions at Closing

Most people are not at their best when they are at the closing. They are feeling nervous and vulnerable as they sign the papers, and may even be fighting off an attack of buyer's remorse.

Even though you may be inclined to just sign the papers, it is a good idea to check the paperwork and ask any questions you have. If you are signing a mortgage or deed of trust, be sure to review the document carefully. Check the spelling of your name, the property address and all of the inserted items for accuracy. Since much of the paperwork is prepared on short notice, occasionally mistakes are made. They are usually easier to fix while you are still at the title office, so don't be shy about asking questions before you sign on the dotted line.

Dallas Chambers, Realtor
RE/MAX Agents Realty
770-595-1541
http://www.dallaschambers.com/
dallasc@remax.net

Each office independently owned and operated. All informaton deemed reliable but not guaranteed.

Paperwork at Closing

When you buy a house, you are asked to sign an amazing number of documents, especially if you are obtaining a mortgage. It is prudent to read all of the papers before signing them, but it may not be practical to do this at the actual closing. There is a way you can read everything first without holding up the closing.

The title company should have the papers ready for your review several days before the closing, but sometimes the lender delivers the paperwork at the last minute. If you insist on reading everything, including all fine print, you will probably draw some serious groans from the others at the table. One practical solution is to request copies of all of the standard forms a week before the closing, so that you can read them at your leisure. At the closing you need only to make sure that the information is filled in correctly.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Closing Day

Buyers will have an opportunity to walk through the home they are buying just before the closing to make sure it is in the same condition as when the contract was ratified. They will check the appliances and make sure that the agreed-upon repairs were completed.

They usually see their new home empty for the first time just after the movers have left. Suddenly they see the dark rectangles and nail holes where pictures used to hang, as well as all the "dust bunnies". The contract calls for the house to be "broom clean" and free of trash and debris. Realtors encourage sellers to leave their homes impeccably clean for the walk-through, and many homes are turned over in spotless condition. Sometimes a hectic moving schedule, fatigue, or different housekeeping standards result in the buyers having to clean the house thoroughly before they move in. If you are afraid that a messy house could trigger problems at the closing, be sure to make your house shine for this important inspection.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Closing Dates

The final closing date is usually an important item in the negotiation of the purchase agreement on a home. This is the day when the buyers get their ownership papers and the sellers get their money. It is important to remember that most standard contracts don't pinpoint a specific date, and closings can be delayed due to factors beyond the buyer's control.

The closing will usually be set as soon as the title search and lender's paper work can be completed, however, anything can upset the closing schedule. Questions can arise about liens that were paid, but not properly recorded. Something in the buyers credit history may have to be cleared up. These situations rarely cause the transaction to fall apart, but they can wreak havoc with your moving schedule. As your Realtor, I will keep you up to date on the progress of your closing in order to avoid delays and minimize the inconvenience, if one occurs.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Buying New or Adding On

Homeowners should consider several questions before deciding to add on to an existing home or move up in the market to a bigger house. How much money do you have available for remodeling your current house? How much additional space do you require? Is there room to expand on the ground level or will the foundation of your present home support a second floor? What will the local zoning and building ordinances permit? How much equity do you have in the property? Are there affordable properties for sale that would satisfy your housing needs?


Consider your neighborhood--it makes more sense to add on to a smaller house than to over-improve the largest home in the area. Your decision should ultimately be based on your individual needs, the extent of the work involved and which features will add the most value. According to industry experts, buyers are always excited by state-of-the art kitchens and bathrooms.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Are You Curious?

Perhaps you have no plans to buy or sell a home right now, but you are curious about your possibilities. Real estate professionals can answer any questions you may have about the ins and outs of real estate. We can provide you with information to help you make a decision.

We will discuss the local real estate market with you and help you determine whether it is a good time for you to buy or sell. If you are a first-time buyer, you may have questions about legal descriptions, fair housing laws or sources of financing. You may be curious about how sales prices are set. A Realtor's job is diverse, and the best Realtors are excellent sources of information. Each day I am actively involved with mortgage lenders, attorneys, surveyors and taxing authorities.

Finding the right Realtor is like finding the right physician. The help of a professional can help satisfy your curiosity. Call me with your real estate questions.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

A Buyers Market

A Buyers Market


Is the real estate section of your local paper filled with stories about how slow the real estate market in your area is? Is it taking months to sell the homes on the market? If this description fits your area, and you have been waiting for the perfect time to buy a house, this is the time!

This kind of market is referred to as a "buyers' market" for good reason--it is an opportunity for buyers to select from a large number of homes that could satisfy their needs. Everyone involved is ready to bend over backwards to make it possible for you to buy your dream home. Most sellers are highly motivated and so are the local Realtors, loan officers, title companies, and other professionals involved in the transaction. It is important to remember that the real estate market runs in cycles, and conditions can change without a lot of warning. This could be the perfect time to contact me to discuss your needs and to explore the possibilities available to you.

Don't forget! The first time homebuyer tax credit expires this month. Contact me today!

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Offers and Counter-Offers

Offers and Counter-Offers


Many of the offers I present for prospective buyers aren't exactly what the sellers would like; the price may be lower than they are asking or there might be other terms that will require negotiation. What happens after the initial offer is submitted?

The seller's agent will present the offer to the sellers, along with the buyer's qualifications or details. If the sellers accept the offer, then you have a purchase agreement. If the sellers counter the offer, the next step would be initiated by the buyers. If you want to buy a particular house, your chances of getting it are greater if your offer is as close to the asking price as possible. You could save money by engaging in hard negotiations, but you run the risk of losing the home if another buyer's offer comes in or you risk offending the seller.

Have a question about real estate? I'm here to help! Call or contact me today!

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541

Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

What to Leave for the New Owner

What to Have on Hand for the New Owners

•· Owner's manuals and warranties for appliances left in the house.

•· Garage door opener.

•· Extra sets of house keys.

•· A list of local service providers - the best dry cleaner, yard service, plumber, etc.

•· Code to the security alarm and phone number of the monitoring service if not discontinued.

•· As a courtesy, you could provide numbers to the local utility companies.

•· If it's a condo, leave information on how to contact the condo board.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Understanding Capital Gains in Real Estate

Understanding Capital Gains in Real Estate

When you sell a stock, you owe taxes on your gain - the difference between what you paid for the stock and what you sold it for. The same holds true when selling a home (or a second home), but there are some special considerations.

How to Calculate Gain

In real estate, capital gains are based not on what you paid for the home, but on its adjusted cost basis. To calculate, follow these steps:

1. Purchase price: _______________________

The purchase price of the home is the sale price, not the amount of money you actually contributed at closing.

2. Total adjustments: _______________________

To calculate this, add the following:

•Cost of the purchase - including transfer fees, attorney fees, and inspections, but not points you paid on your mortgage.

•Cost of sale - including inspections, attorney fees, real estate commission, and money you spent to fix up your home just prior to sale.

•Cost of improvements - including room additions, deck, etc. Note here that improvements do not include repairing or replacing something already there, such as putting on a new roof or buying a new furnace.

3. Your home's adjusted cost basis: _______________________

The total of your purchase price and adjustments is the adjusted cost basis of your home.

4. Your capital gain: _______________________

Subtract the adjusted cost basis from the amount your home sells for to get your capital gain.

A Special Real Estate Exemption for Capital Gains

Since 1997, up to $250,000 in capital gains ($500,000 for a married couple) on the sale of a home is exempt from taxation if you meet the following criteria:

•· You have lived in the home as your principal residence for two out of the last five years.

•· You have not sold or exchanged another home during the two years preceding the sale.

•· You meet what the IRS calls "unforeseen circumstances," such as job loss, divorce, or family medical emergency.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Tips for Pricing Your Home

Tips for Pricing Your Home

•· Consider comparables. What have other homes in your neighborhood sold for recently? How do they compare to yours in terms of size, upkeep, and amenities?

•· Consider competition. How many other houses are for sale in your area? Are you competing against new homes?

•· Consider your contingencies. Do you have special concerns that would affect the price you'll receive? For example, do you want to be able to move in four months?

•· Get an appraisal. For a few hundred dollars, a qualified appraiser can give you an estimate of your home's value. Be sure to ask for a market-value appraisal. To locate appraisers in your area, contact The Appraisal Institute (www.appraisalinstitute.org) or ask your REALTOR® for some recommendations.

•· Ask a lender. Since most buyers will need a mortgage, it's important that a home's sale price be in line with a lender's estimate of its value.

•· Be accurate. Studies show that homes priced more than 3 percent over the correct price take longer to sell.

•· Know what you'll take. It's critical to know what price you'll accept before beginning a negotiation with a buyer.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Is Your Buyer Qualified?

Is Your Buyer Qualified?

Unless the buyer who makes an offer on your home has the resources to qualify for a mortgage, you may not really have a sale. If possible, try to determine a buyer's financial status before signing the contract. Ask the following:

1. Has the buyer been prequalified or preapproved (even better) for a mortgage? Such buyers will be in a much better position to obtain a mortgage promptly.

2. Does the buyer have enough money to make a downpayment and cover closing costs? Ideally, a buyer should have 20 percent of the home's price as a downpayment and between 2 and 7 percent of the price to cover closing costs.

3. Is the buyer's income sufficient to afford your home? Ideally, buyers should spend no more than 28 percent of total income to cover PITI (principal, interest, taxes, and insurance).

4. Does your buyer have good credit? Ask if he or she has reviewed and corrected a credit report.

5. Does the buyer have too much debt? If a buyer owes a great deal on car payments, credit cards, etc., he or she may not qualify for a mortgage.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

How to Prepare for the Open House

How to Prepare for the Open House
•· Advertise your open house. Ideally you should advertise both the weekend before and the weekend of the open house. Check with the local paper to see when their ad closing deadlines are.

•· Create a property summary sheet. This sheet gives prospective buyers an overview of your home. Include dimensions for each room, copies of a property survey, summaries of utility costs and property taxes, and a list of when capital items such as roofs and furnace were added.

•· Develop a sign-in form for prospects' addresses. You'll ideally want both phone numbers and e-mail addresses to follow up with prospective buyers.

•· Put up signs. One or two days before the open house, place directional signs at major intersections within three to four blocks of your house. Be sure you check on anti-sign regulations in your area.

•· Get your house ready. Remove clutter, clean your house, wash your windows, add flowers, turn on lights, open draperies and blinds, remove valuables and breakables, confine pets, turn on soft music, and set up a table for your property fact sheet near the entrance.

•· Develop a follow-up sheet. Getting feedback on your home from prospects who attended your open house will give you a better understanding of how to make your home more appealing to buyers.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Open House Safety Tips

Open House Safety Tips

An open house can be a great sales tool, but it also exposes you to numerous unfamiliar people for the first time. Stay safe by practicing these guidelines.

•Call the local police department and ask them to have a squad car drive by during your open-house hours.

•Check your cell phone's strength and signal prior to the open house. Have emergency numbers programmed on speed dial. Carry an extra, fully charged cell phone battery.

•Determine several "escape" routes that you can use in case of an emergency. Make sure all deadbolt locks are unlocked to facilitate a faster escape.

•Turn on the lights and open the curtains. These are not only sound safety procedures, but also great marketing tactics.

•Make sure that if you were to escape by the back door, you could escape from the backyard. Frequently, high fences surround yards that contain swimming pools or hot tubs.

•When prospective buyers begin to arrive, jot down their car descriptions, license numbers and physical descriptions.

•When showing the house, always walk behind the prospect. Direct them; don't lead them. Say, for example, "The kitchen is on your left," and gesture for them to go ahead of you.

•Notify a friend or a relative that you will be calling in every hour on the hour. And if you don't call, they are to notify the police immediately.

•Inform a neighbor that you will be showing the house and ask if he or she would keep an eye and ear open for anything out of the ordinary.

Source: National Association of REALTORS® Safety Week kit

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Service Providers You'll Need When You Sell

Checklist: 17 Service Providers You'll Need When You Sell

•□ Real estate attorney
•□ Appraiser
•□ Home inspector
•□ Mortgage loan officer
•□ Environmental specialist
•□ Lead paint inspector
•□ Radon inspector
•□ Tax adviser
•□ Sanitary systems expert
•□ Occupancy permit inspector
•□ Zoning inspector
•□ Survey company
•□ Flood plain inspector
•□ Termite inspector
•□ Title company
•□ Insurance consultant
•□ Moving company

Used with permission from Kim Daugherty, Real Estate Checklists and Systems, www.realestatechecklists.com.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Forms You'll Need To Sell Your Home

Forms You'll Need to Sell Your Home

1. Property disclosure form. This form requires you to reveal all known defects to your property. Check with your state government to see if there is a special form required in your state.

2. Purchasers access to premises agreement. This agreement sets conditions for permitting the buyer to enter your home for activities such as measuring for draperies before you move.

3. Sales contract. The agreement between you and the seller on terms and conditions of sale. Again, check with your state real estate department to see if there is a required form.

4. Sales contract contingency clauses. In addition to the contract, you may need to add one or more attachments to the contract to address special contingencies - such as the buyer's need to sell a home before purchasing yours.

5. Pre- and post-occupancy agreements. Unless you're planning on moving out and the buyer moving in on the day of closing, you'll need an agreement on the terms and costs of occupancy once the sale closes.

6. Lead-based paint disclosure pamphlet. If your home was built before 1978, you must provide the pamphlet to all sellers. You must also have buyers sign a statement indicating they received the pamphlet.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Tips for Hiring a Remodeling Contractor

12 Tips for Hiring a Remodeling Contractor

1. Get at least three written estimates.

2. Check references. If possible, view earlier jobs the contractor completed.

3. Check with the local Chamber of Commerce or Better Business Bureau for complaints.

4. Be sure the contract states exactly what is to be done and how change orders will be handled.

5. Make as small of a down payment as possible so you won't lose a lot if the contractor fails to complete the job.

6. Be sure that the contractor has the necessary permits, licenses, and insurance.

7. Check that the contract states when the work will be completed and what recourse you have if it isn't. Also, remember that in many instances you can cancel a contract within three business days of signing it.

8. Ask if the contractor's workers will do the entire job or whether subcontractors will be involved too.

9. Get the contractor to indemnify you if work does not meet any local building codes or regulations.

10. Be sure that the contract specifies the contractor will clean up after the job and be responsible for any damage.

11. Guarantee that the materials that will be used meet your specifications.

12. Don't make the final payment until you're satisfied with the work.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Low-Cost Ways to Spruce Up Your Home's Exterior

Low-Cost Ways to Spruce Up Your Home's Exterior

Make your home more appealing for yourself and potential buyers with these quick and easy tips:

1. Trim bushes so they don't block windows or architectural details.

2. Mow your lawn, and turn on the sprinklers for 30 minutes before the showing to make the lawn sparkle.

3. Put a pot of bright flowers (or a small evergreen in winter) on your porch.

4. Install new doorknobs on your front door.

5. Repair any cracks in the driveway.

6. Edge the grass around walkways and trees.

7. Keep your garden tools and hoses out of sight.

8. Clear toys from the lawn.

9. Buy a new mailbox.

10. Upgrade your outside lighting.

11. Buy a new doormat for the outside of your front door.

12. Clean your windows, inside and outside.

13. Polish or replace your house numbers.

14. Place a seasonal wreath on your door.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Prepare Your Home for a Virtual Tour

Prepare Your Home for a Virtual Tour

With more buyers shopping for homes on the Web, photos and virtual tours are a must. There are many things you can do make your home shine on camera.

1. Understand the camera's perspective. The camera's eye is very different from the human eye. It magnifies clutter and poor furniture arrangement. To make a home shine in a virtual tour or video presentation, cater to the lens.

2. Make the home "Q-tip clean." Because the camera magnifies grime, each room must be spotless. Don't forget floor coverings and walls; a discolored spot on the rug might be overlooked by prospects during a regular home showing, but that stain becomes a focal point for online viewers.

3. Pack up the clutter. But leave three items of varying heights on each surface. For example, on an end table you can place a lamp (high), a small plant (medium), and a book (low).

4. Snap pictures. This will give you an idea of what the home will look like on camera. Closely examine the photos and list changes that would improve each room's appearance: opening blinds to let in natural light, removing magnets from the refrigerator, or taking down distracting art.

5. Pare down furniture. Identify one or two pieces of furniture that can be removed from each room to make the space appear larger.

6. Rearrange. Spotlight the flow of a space by creating a focal point on the furthest wall from the doorway and arranging the other pieces of furniture to make a triangle shape. The focal point may be a bed in a bedroom or a china cabinet in a dining room.

7. Reaccessorize. Include a healthy plant in every room; the camera loves green. Energize bland decor by placing a bright vase on a mantle or draping an afghan over a couch.

8. Keep the home in shape. You want buyers who liked what they saw online to encounter the same home in person.

Source: Barb Schwarz, www.StagedHomes.com, Concord, Pa.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net
Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

How to Hold a Successful Garage Sale

How to Hold a Successful Garage Sale

Garage sales can be a great way to get rid of clutter - and earn a little extra cash - before you sell your home. But make sure the timing is right. Garage sales can take on a life of their own, and it might not be the best use of your energy right before putting your home on the market. Follow these tips for a successful sale.

1. Don't wait until the last minute. You don't want to be scrambling to hold a garage sale the week before an open house. Depending on how long you've lived in the home and how much stuff you have to sell, planning a garage sale can demand a lot of time and energy.

2. Get a permit. Most municipalities will require you to obtain a special permit or license in order to hold a garage sale. The permits are often free or very inexpensive, but still require you to register with the city.

3. See if neighbors want to join in. You can turn your garage sale into a block-wide event and lure more shoppers if you team up with neighbors. However, a permit may be necessary for each home owner, even if it's a group event.

4. Schedule the sale. Sales on Saturdays and Sundays will generate the most traffic, especially if the weather cooperates. Start the sale early, 8 a.m. or 9 a.m. is best, and be prepared for early birds.

5. Advertise. Place an ad in free classified papers and Web sites, and in your local newspapers. Include the dates, time, and address. Let the public know if certain types of items will be sold, such as baby clothes, furniture, or weightlifting equipment. On the day of the sale, balloons and signs with prominent arrows will help to grab the attention of passersby.

6. Price your goods. Lay out everything that you plan to sell, and attach prices with removable stickers. Remember, garage sales are supposed to be bargains, so try to be objective as you set prices. Assign simple prices to your goods: 50 cents, 3 for $1, $5, $10, etc.

7. If it's really junk, don't sell it. Decide what's worth selling and what's not. If it's really garbage, then throw it away. Broken appliances, for example, should be tossed. (Know where a nearby electrical outlet is, in case a customer wants to make sure something works.)

8. Check for mistakes. Make sure that items you want to keep don't accidentally end up in the garage sale pile.

9. Create an organized display. Lay out your items by category, and display neatly so customers don't have to dig through boxes.

10. Stock up on bags and newspapers. People who buy many small items will appreciate a bag to carry their goods. Newspapers are handy for wrapping fragile items.

11. Manage your money. Make a trip to the bank to get ample change for your cashbox. Throughout the sale, keep a close eye on your cash; never leave the cashbox unattended. It's smart to have one person who manages the money throughout the day, keeping a tally of what was purchased and for how much. Keep a calculator nearby.

12. Prepare for your home sale. Donate the remaining stuff or sell it to a resale shop. Now that all of your clutter is cleared out, it's time to focus on preparing your house for a successful sale!

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

How to Get an Offer on Your Home

How to Get an Offer on Your Home

1. Price it right. Set a price at the lower end of your property's realistic price range.

2. Prepare for visitors. Get your house market ready at least two weeks before you begin showing it.

3. Be flexible about showings. It's often disruptive to have a house ready to show at the spur of the moment. But the more amenable you can be about letting people see your home, the sooner you'll find a buyer.

4. Anticipate the offers. Decide in advance what price and terms you'll find acceptable.

5. Don't refuse to drop the price. If your home has been on the market for more than 30 days without an offer, you should be prepared to at least consider lowering your asking price.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

What Is Appraised Value

What is Appraised Value?

•· Appraisals provide an objective opinion of value, but it's not an exact science so appraisals may differ.

•· For buying and selling purposes, appraisals are usually based on market value - what the property could probably be sold for. Other types of value include insurance value, replacement value, and assessed value for property tax purposes.

•· Appraised value is not a constant number. Changes in market conditions can dramatically alter appraised value.

•· Appraised value doesn't take into account special considerations, like the need to sell rapidly.

•· Lenders usually use either the appraised value or the sale price, whichever is less, to determine the amount of the mortgage they will offer.

Used with permission from Kim Daugherty, Real Estate Checklists and Systems, www.realestatechecklists.com

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Agency Relationships

It's important to understand what legal responsibilities your real estate salesperson has to you and to other parties in the transaction. Ask what type of agency relationship your agent has with you:


Seller's representative (also known as a listing agent or seller's agent)

A seller's agent is hired by and represents the seller. All fiduciary duties are owed to the seller. The agency relationship usually is created by a listing contract.

Buyer's representative (also known as a buyer's agent)

A buyer's agent is hired by prospective buyers to represent them in a real estate transaction. The buyer's rep works in the buyer's best interest throughout the transaction and owes fiduciary duties to the buyer. The buyer can pay the licensee directly through a negotiated fee, or the buyer's rep may be paid by the seller or through a commission split with the seller's agent.

Subagent

A subagent owes the same fiduciary duties to the agent's customer as the agent does. Subagency usually arises when a cooperating sales associate from another brokerage, who is not the buyer's agent, shows property to a buyer. In such a case, the subagent works with the buyer as a customer but owes fiduciary duties to the listing broker and the seller. Although a subagent cannot assist the buyer in any way that would be detrimental to the seller, a buyer-customer can expect to be treated honestly by the subagent. It is important that subagents fully explain their duties to buyers.

Disclosed dual agent

Dual agency is a relationship in which the brokerage firm represents both the buyer and the seller in the same real estate transaction. Dual agency relationships do not carry with them all of the traditional fiduciary duties to clients. Instead, dual agents owe limited fiduciary duties. Because of the potential for conflicts of interest in a dual-agency relationship, it's vital that all parties give their informed consent. In many states, this consent must be in writing. Disclosed dual agency, in which both the buyer and the seller are told that the agent is representing both of them, is legal in most states.

Designated agent (also called appointed agent)

This is a brokerage practice that allows the managing broker to designate which licensees in the brokerage will act as an agent of the seller and which will act as an agent of the buyer. Designated agency avoids the problem of creating a dual-agency relationship for licensees at the brokerage. The designated agents give their clients full representation, with all of the attendant fiduciary duties. The broker still has the responsibility of supervising both groups of licensees.

Nonagency relationship (called, among other things, a transaction broker or facilitator)

Some states permit a real estate licensee to have a type of nonagency relationship with a consumer. These relationships vary considerably from state to state, both as to the duties owed to the consumer and the name used to describe them. Very generally, the duties owed to the consumer in a nonagency relationship are less than the complete, traditional fiduciary duties of an agency relationship.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Things To Do Before Putting Your Home on the Market

5 Things to do Before Putting Your Home on the Market

1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you'll be able to make repairs before open houses begin.

2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.

3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don't plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.

4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.

5. Spruce up the curb appeal. Pretend you're a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net
Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Why Work With a Realtor

Not all real estate practitioners are REALTORS®. The term REALTOR® is a registered trademark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics. Here's why it pays to work with a REALTOR®.

1. Navigate a complicated process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multipage settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.

2. Information and opinions. REALTORS® can provide local community information on utilities, zoning, schools, and more. They'll also be able to provide objective information about each property. A professional will be able to help you answer these two important questions: Will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

3. Help finding the best property out there. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your REALTOR® to find all available properties.

4. Negotiating skills. There are many negotiating factors, including but not limited to price, financing, terms, date of possession, and inclusion or exclusion of repairs, furnishings, or equipment. In addition, the purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

5. Property marketing power. Real estate doesn't sell due to advertising alone. In fact, a large share of real estate sales comes as the result of a practitioner's contacts through previous clients, referrals, friends, and family. When a property is marketed with the help of a REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.

6. Someone who speaks the language. If you don't know a CMA from a PUD, you can understand why it's important to work with a professional who is immersed in the industry and knows the real estate language.

7. Experience. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. Even if you have done it before, laws and regulations change. REALTORS®, on the other hand, handle hundreds of real estate transactions over the course of their career. Having an expert on your side is critical.

8. Objective voice. A home often symbolizes family, rest, and security - it's not just four walls and a roof. Because of this, homebuying and selling can be an emotional undertaking. And for most people, a home is the biggest purchase they'll every make. Having a concerned, but objective, third party helps you stay focused on both the emotional and financial issues most important to you.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

These questions will help you decide whether you're ready for a home that's larger or in a more desirable location. If you answer yes to most of the questions, it's a sign that you may be ready to move.


1. Have you built substantial equity in your current home? Look at your annual mortgage statement or call your lender to find out. Usually, you don't build up much equity in the first few years of your mortgage, as monthly payments are mostly interest, but if you've owned your home for five or more years, you may have significant, unrealized gains.

2. Has your income or financial situation improved? If you're making more money, you may be able to afford higher mortgage payments and cover the costs of moving.

3. Have you outgrown your neighborhood? The neighborhood you pick for your first home might not be the same neighborhood you want to settle down in for good. For example, you may have realized that you'd like to be closer to your job or live in a better school district.

4. Are there reasons why you can't remodel or add on? Sometimes you can create a bigger home by adding a new room or building up. But if your property isn't large enough, your municipality doesn't allow it, or you're simply not interested in remodeling, then moving to a bigger home may be your best option.

5. Are you comfortable moving in the current housing market? If your market is hot, your home may sell quickly and for top dollar, but the home you buy also will be more expensive. If your market is slow, finding a buyer may take longer, but you'll have more selection and better pricing as you seek your new home.

6. Are interest rates attractive? A low rate not only helps you buy a larger home, but also makes it easier to find a buyer.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Navigating Short Sales

If you're thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won't cover your total mortgage obligation and closing costs, and you don't have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it.

1. Consider loan modification first. If you are thinking of selling your home because of financial difficulties and you anticipate a short sale, first contact your lender to see if it has any programs to help you stay in your home. Your lender may agree to a modification such as:

•· Refinancing your loan at a lower interest rate

•· Providing a different payment plan to help you get caught up

•· Providing a forbearance period if your situation is temporary

When a loan modification still isn't enough to relieve your financial problems, a short sale could be your best option if

•· Your property is worth less than the total mortgage you owe on it.

•· You have a financial hardship, such as a job loss or major medical bills.

•· You have contacted your lender and it is willing to entertain a short sale.

2. Hire a qualified team. The first step to a short sale is to hire a qualified real estate professional* and a real estate attorney who specialize in short sales. Interview at least three candidates for each and look for prior short-sale experience. Short sales have proliferated only in the last few years, so it may be hard to find practitioners who have closed a lot of short sales. You want to work with those who demonstrate a thorough working knowledge of the short-sale process and who won't try to take advantage of your situation or pressure you to do something that isn't in your best interest.

A qualified real estate professional can:

•· Provide you with a comparative market analysis (CMA) or broker price opinion (BPO).

•· Help you set an appropriate listing price for your home, market the home, and get it sold.

•· Put special language in the MLS that indicates your home is a short sale and that lender approval is needed (all MLSs permit, and some now require, that the short-sale status be disclosed to potential buyers).

•· Ease the process of working with your lender or lenders.

•· Negotiate the contract with the buyers.

•· Help you put together the short-sale package to send to your lender (or lenders, if you have more than one mortgage) for approval. You can't sell your home without your lender and any other lien holders agreeing to the sale and releasing the lien so that the buyers can get clear title.

3. Begin gathering documentation before any offers come in. Your lender will give you a list of documents it requires to consider a short sale. The short-sale "package" that accompanies any offer typically must include

•· A hardship letter detailing your financial situation and why you need the short sale

•· A copy of the purchase contract and listing agreement

•· Proof of your income and assets

•· Copies of your federal income tax returns for the past two years

4. Prepare buyers for a lengthy waiting period. Even if you're well organized and have all the documents in place, be prepared for a long process. Waiting for your lender's review of the short-sale package can take several weeks to months. Some experts say:

•· If you have only one mortgage, the review can take about two months.

•· With a first and second mortgage with the same lender, the review can take about three months.

•· With two or more mortgages with different lenders, it can take four months or longer.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Tips for Packing Like a Pro

17 Tips for Packing Like a Pro

Moving to a new home can be stressful, to say the least. Make it easy on yourself by planning far in advance and making sure you've covered all the bases.

1. Plan ahead by organizing and budgeting. Develop a master "to do" list so you won't forget something critical on moving day, and create an estimate of moving costs. (A moving calculator is available at REALTOR.com)

2. Sort and get rid of things you no longer want or need. Have a garage sale, donate to a charity, or recycle.

3. But don't throw out everything. If your inclination is to just toss it, you're probably right. However, it's possible to go overboard in the heat of the moment. Ask yourself how frequently you use an item and how you'd feel if you no longer had it. That will eliminate regrets after the move.

4. Pack similar items together. Put toys with toys, kitchen utensils with kitchen utensils. It will make your life easier when it's time to unpack.

5. Decide what, if anything, you plan to move on your own. Precious items such as family photos, valuable breakables, or must-haves during the move should probably stay with you. Don't forget to keep a "necessities" bag with tissues, snacks, and other items you'll need that day.

6. Remember, most movers won't take plants. If you don't want to leave them behind, you should plan on moving them yourself.

7. Use the right box for the item. Loose items are prone to breakage.

8. Put heavy items in small boxes so they're easier to lift. Keep the weight of each box under 50 pounds, if possible.

9. Don't over-pack boxes. It increases the likelihood that items inside the box will break.

10. Wrap every fragile item separately and pad bottom and sides of boxes. If necessary, purchase bubble-wrap or other packing materials from moving stores.

11. Label every box on all sides. You never know how they'll be stacked and you don't want to have to move other boxes aside to find out what's there.

12. Use color-coded labels to indicate which room each item should go in. Color-code a floor plan for your new house to help movers.

13. Keep your moving documents together in a file. Include important phone numbers, driver's name, and moving van number. Also keep your address book handy.

14. Print out a map and directions for movers. Make several copies, and highlight the route. Include your cell phone number on the map. You don't want movers to get lost! Also make copies for friends or family who are lending a hand on moving day.

15. Back up your computer files before moving your computer. Keep the backup in a safe place, preferably at an off-site location.

16. Inspect each box and all furniture for damage as soon as it arrives.

17. Make arrangements for small children and pets. Moving can be stressful and emotional. Kids can help organize their things and pack boxes ahead of time, but, if possible, it might be best to spare them from the moving-day madness.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Closing Documents You Should Keep

Closing Documents You Should Keep

On closing day, expect to sign a lot of documents and walk away with a big stack of papers. Here's a list of the most important documents you should file away for future reference.

HUD-1 settlement statement. Itemizes all the costs - commissions, loan fees, points, and hazard insurance -associated with the closing. You'll need it for income tax purposes if you paid points.

•Truth in Lending statement. Summarizes the terms of your mortgage loan, including the annual percentage rate and recision period.

•Mortgage and note. Spell out the legal terms of your mortgage obligation and the agreed-upon repayment terms.

•Deed. Transfers ownership to you.

•Affidavits. Binding statements by either party. For example, the sellers will often sign an affidavit stating that they haven't incurred any liens.

•Riders. Amendments to the sales contract that affect your rights. Example: The sellers won't move out until two weeks after closing but will pay rent to the buyers during that period.

•Insurance policies. Provide a record and proof of your coverage.

Sources: Credit Union National Association; Mortgage Bankers Association; Home-Buyer's Guide (Real Estate Center at Texas A&M, 2000)

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.