In order to sell, a home must be correctly priced, which means that sellers must listen to what agents have to say about the current market conditions. Those sellers who hold on to the past or look hopefully to the future will likely incorrectly price their homes and sabotage a successful sale. This tendency to place emotion before solid business sense is reflected in a recent survey that found that as many as three-quarters of homeowners believe that their…

Not everyone has a firm idea about what neighborhood they want to live in. Such is often the case with people who must relocate their families as a matter of career advancement. Professionals who find themselves in this position often must rely on a relocation expert to provide them with an honest and adequate portrayal of their new community. With this in mind, real estate agents with familiarity of local areas can coordinate appointments with counselors at area schools,…

One measure that experts use to gauge housing affordability is known as the “Median Multiple,” which is the annual pre-tax median house price divided by the median household income. Generally speaking, in the decades following the Second World War, a ratio below 3.0 has been considered to be the benchmark of affordability. Therefore, it may come as welcome news that this ratio recently registered a 2.6 after having reached higher than 5.0 during the recent housing bubble. This is…

Homeowners should be cautious in their selection of home improvements in terms of their ability to attract buyers and improve their homes’ value. In 2011, U.S. homeowners recouped 58 cents for each remodeling dollar spent, on average, compared with a 76% return on new projects in 2005. Of course, some projects do better than others. For instance, replacing a front door with a 20-gauge steel door not only increases “curb appeal,” but the improvement also returned an average 73%…

Moving companies base their charges for long-distance moves on the weight of the client’s possessions, the distance of the move, materials, and overtime labor. Interstate estimates come in three different forms: A “binding” estimate requires that the mover remain faithful to the original estimate regardless of the final weight. A “nonbinding” estimate is an approximation that may change in accordance with the resulting weight of the shipment. A “guaranteed-not-to-exceed” estimate requires that the client pay either the binding estimate…

In this current real estate competitive climate, sellers want to do everything they can to gain an advantage. With buyers having their pick of so many properties, they are often reluctant to choose those that require updating. With this in mind, sellers are strongly encouraged to replace or refurbish any features in their homes that look dated. Outdated kitchens and bathrooms are the first places to look. Chipped laminated countertops, old refrigerators and other kitchen appliances, and worn vanities…

The continuing foreclosure situation affects nearly all homeowners, either directly or indirectly. Until the situation is resolved, the large nationwide inventory of foreclosed homes undermines home values and disrupts entire families. One way that banks are working with homeowners facing foreclosure is to expedite the process by conducting “short sales.” This foreclosure alternative involves the lender agreeing to let the owner sell the home for less than the amount owed on a mortgage. That way, the lender avoids the…

Buyers with their sights set on a “fixer-upper” should consider a HUD-approved FHA home loan known as the 203K that combines funds for the home mortgage with money for repairs, rehab, and improvement in one closing. The mortgage amount is based on the projected value of the property with the work completed. The FHA 203K must be used for a borrower’s primary residence, either a single-family home, 2-4 unit property townhouse (as long as one is owner occupied), and…

By Melissa Dittmann Tracey, REALTOR® Magazine

When tackling home remodeling projects, you’ll find some projects pay off more than others at times of resale. Remodeling Magazine, in conjunction with REALTOR® Magazine, recently released findings of its annual Cost vs. Value report for 2011-2012, revealing which remodeling projects offer the biggest bang for your buck.

Overall, the trend right now is replacement over remodeling–swapping out the old for the new rather than doing a total gut job, which can be much more…

Sellers must know what the pool of potential buyers is made up of if they expect to market their homes successfully. With this in mind, it pays to know that, while married couples still make up the majority of buyers, singles also cast a significant shadow. According to the 2010 National Association of Realtors® Profile of Home Buyers and Sellers, single individuals represented more than a third (38 percent) of first-time buyers and 26 percent of repeat home buyers….