Staging Your Home - First Impressions

When a buyer pulls up in front of your home this is your one and only 15 second chance for a POSITIVE first impression.  Here's what to do and not to do:


* Don't park yours cars in the driveway.
* Have some color in your yard....spring plantings or potted plants.
* A large tree or two can further enhance your home's curb appeal.
* Charm potential buyers with a courtyard fountain or some tasteful yard art by the entry.
* The backyard is important too.  Remove dead plants, trim trees, shrubs and add some flowers.
 
Linda Shank, a 32 year veteran,  is Broker Owner of Linda Shank & Company  Gold Canyon Arizona  Contact her @ http://www.ISellAZsunshine

Renter's - Is it time to Renegotiate your Lease?

Apartment vacancies hit a 30-year high in the fourth quarter and left landlords scrambling to retain their existing tenants plus trying to attract new one.

The vacancy rate ended the year at 8%.  This is the highest level since a New York research tracking firm surveying the top 79 U.S. markets started to tally vacancies plus rents in 1980.  San Jose CA, Seattle, San Francisco saw rents fall 3%.


Landlords must now entice tenants to renew leases.  Incentives like Starbucks gift cards, repainting the unit and cleaning carpets are just a few of the enticements landlords are implementing.


If you are renting a place, now might be a good time to renegotiate your lease.




Linda Shank is a real estate broker w/Linda Shank and Company in the Southeast Phoenix Valley.  Contact her at LShank5179ataol.com

Do I have to Sell my Home to Qualifty for the Homebuyer Tax Credit

Here's a question that keeps popping up:

I'm already a homeowner.  If I buy another home ofter Nov. 6, 2009 to use as my principal residence, do I have to sell my home to qualify for the home buyer tax credit?

Answer:

No.  If you meet all of the requirements for the credit, the law does not require you to sell or otherwise dispose of your current principal residence to qualify for a credit up to $6,500 when you buy a replacement home to use as your principal residence.  The requirements are that you must buy, or enter into a binding contract to buy, the replacement principal residence after Nov. 6, 2009 and on or before April 30, 2010 and close on the home by June 30, 2010.  Additionally, you must have lived in the same principal residence for any five-consecutive-year period during the eight-year period that ended on the date the replacement home is purchased.  For example, if you bought a home on November 30, 2009, the eight-year period would run from December 1, 2001 through November 30, 2009.



Information courtesy of Jay Starks, Bell America Mortgage, www.jaystarks.com

Do this first before you Buy a Home

You found your dream home and are ready to make an offer.  Do these four investigative measures before you sign on the dotted line.

1.  Talk to would-be neighbors.  Ask how they like the area, how are the schools or if there are any problem activity nearby.


2.  Check your commute.  Drive from your possible new home to work during rush hour to see how long it will really take.  If you use the bus, then take the daily bus you would use to commute.


3.  Check crime data and sex offender databases.  For crime statistics go to faxnet1.org or search the internet for your local crime statistics link.  For sex offenders go to azsexoffender.org or search the internet for your local sex offender database line.


 4.  Read up.  Investigate the location of nearby dairy farms, jails or proposed freeway developments or alignments.  Call local Planning and Zoning for additional proposed developments.

5.  Make multiple offers on multiple properties.  You can make sellers compete for your business.  Just make sure the Realtor provides the correct verbiage so that you don't end up buying several properties. This won't always work but in the current Seller's market it's worth a shot.





Linda Shank is a local real estate broker in the Southeast Phoenix Valley.  She can be reached on her website www.ISellAZSunshine.com or on this blog.   

Reduce Webpage Risk by Removing @

Computer search robots are crawling through text on the Internet looking for Web pages that contain the @ symbol so they can store the email addresses associated with that symbol.  Without realizing it you may be putting yourself at risk simply by listing your email address on your Blog site or other business related site. The best solution is to replace the @ symbol with the word "at".  For example, Marybrooks@msn.com now becomes Marybrooksatmsn.com.  This could keep some of the spammers out there away from your site.

What you Should Know about FHA loans

Loans can be underwritten by an approved lender which includes most of the major banks in the country.  FHA has the some high loan limits as Freddie Mac and Fannie Mae (which have been extended to the end of 2010).  You can buy a home with a 3.5 percent down payment as compared to at least 10 percent down for a Freddie Mac or Fannie Mae home.  You can get your loan scored for approval through a variety of underwriting engines including Fannie Mae's Desktop Underwriter and Freddie Mac's Loan Prospector.



 Linda Shank is a Real Estate broker in the Phoenix Southeast Valley Gold Canyon area.  She can be contacted at www.ISellAZsunshine.com

Home Inspections Most Common Defects Revealed

These are common defects found in Home Inspections.   Here's what home owners can do to prevent common defects from kaboshing a sale.

1.  Improper Electrical wiring  - Look for items such as insufficient electrical service to the house, inadequate overload protection, spliced wires without being housed in a box or inadequate permits.  Have these fixed by a licensed contractor and not by "Harry the Homeowner".


2.  Roof Deterioration - Routinely look for old or damaged shingles and call a licensed and bonded roofer if you suspect any issues.  Cutback tree limbs growing too near the house.  A tile roof in a warmer area should have it's underlayment periodically checked as this actually deteriorates faster than the concrete tiles which claim to be life-time roofs.



3.  Plumbing problems  Check sink faucets, hose bibs, shut-off valves for potential leakage.  Make sure toilets are securely bolted.  Inspectors look for corroded or mismatched piping materials, faulty fixture and improperly installed hot water heaters. 



4.  Improper Surface grading or drainage  You might need to install, realign or repair a damaged gutter or downspout to ensure proper drainage.  Make sure that your landscaping is sloped away from the home so that water doesn't run at a downward angle right into your home's basement or crawlspace.



5.  Poor overall upkeep (commonly known as deferred maintenance).  Walk around your house at least once a year checking for potential maintenance issues.  Look for cracked, peeling, dirty painted surfaces, broken fixtures or appliances.  Decayed caulking around doors and windows needs to be addressed as it can compromise your heating and cooling costs.

As Larry the Cable Guy says, "Getter done"!!!!  Don't wait for the Home Inspector to find problems. 








Linda Shank is a Broker/Owner in Gold Canyon Arizona.  Reach her at www.ISellAZSunshine.com


 

Four More Low-Cost Remodeling Projects

According to the Remodeling Cost Value Report for 2009-2010 homes in the Western Region of the United States (AZ, CO, ID, MT, NV, UT, WY), homeowners recouped 94.8% of their minor kitchen remodeling costs.  This Cost Data contains information gleaned from over 6200 survey respondents across the country.

Here are four more low-cost remodeling projects to consider:

1. Freshen up a bathroom without retiling---Put in a new medicine cabinet, light fixtures, a faucet and new vanity.  The total cost for this project should run between $500-600.

2.  Add a room---Look for large spaces that can be enclosed  to create a new bedroom by just adding a wall.  If you have an unused den, add a closet and now it's considered a bedroom.  If you have a large loft space consider closing it in, adding a closet and now you have another bedroom.

3.  Spruce up cabinet fronts---If the cabinetry wood is starting to look worn consider hiring a 
firm that reconditions kitchen cabinets.  They can take out the nicks and scratches, recondition with oil and put on new door pulls or handles.  Cost should be around $1000.  You can spend between $1500-$4000 to replace cabinet doors & drawer fronts or having all the cabinets refaced at a cost of $4,000 to $12,000.  There are also many unemployed painters out there that will gladly paint your
cabinets gorgeous colors for around $2500-3500.

4.  Replace light fixtures---Replacing overhead light fixtures in bathrooms, kitchens and a foyer can add a lot of cluck for your buck.  If you are handy you can make these changes yourself.  If you 
need to hire an electrician then you would be spending several hundred dollars for labor.  Installing a dimmer switch on dining room and kitchen lights is also a nice touch.

5.  Replace or remove any yard plantings that are dead---Plant flowering plants for a pop of color.
If this isn't possible, then a large decorative pot with flowering plants by the front door creates
a positive feeling.





Linda Shank is a real estate broker in Phoenix's Southeast Valley.  You can contact her @ LShank5179@aol.com

Five Big Impact Low-Cost Remodeling Projects

Here are a few things you can without spending lots of money:


1.  Tidy up kitchen cabinets---people do look inside to see how much room there is.


2. Add or replace tile---Every city has stores that offer $1 to $2 tile so homeowners only have to pay only for low-cost tile and labor to replace a dated backsplash or add a new one.


3.  Add a breakfast bar---When a wall separates a kitchen from a family room try cutting out an opening to create a breakfast bar.  Add an over sized piece of finished granite and put chairs in front of the bar.  Costs around $600.

4.  Install granite tiles instead of a slab---Homeowners can put in 12-inc granite tiles for about $300 in materials and get very high impact for little money.

5.  Tech-up the garage---Replace the garage door opener with a remote touch-pad entry system.  Costs around $425 and looks like a high-end system.

Five more ideas in my next blog.
 

ARE POINTS DEDUCTIBLE FOR INCOME TAX PURPOSES?

Points on a home are deductible if they are generally charged in the geographical area where your loan is made. Many times there needs to be a job transfer or a move of so many miles to qualify as deductible.  If you are in doubt about points being deductible ALWAYS contact your tax return preparer.


Other charges will most likely include an appraisal fee (to make sure the house is worth what you're paying & assuring the lender that the house has enough value to cover the loan amount) and a credit report.  If you are required to pay Private Mortgage Insurance (PMI) for less than 20% down a charge will be included since the lender obtains the insurance for you. 

FOR MORE INFORMATION CONTACT ME @ MY I Sell AZ Sunshine website.