Active Properties

The Trulia Staff has compiled a

Hey – isn’t this the worst real estate downturn since the Great Depression? If that’s true how are some sellers still able to successfully beat the odds and sell for top dollar despite the market conditions? The answer is that they employ time tested and market approved techniques and strategies that give them an all important edge over their competition.

To model the success of these savvy homeowners, let’s take a look at the top 10 tips to sell your home for top dollar:

Price your home aggressivelySetting the right price for your home is the single most important decision you will make when you decide to sell. Go too high and you risk turning off every buyer in the marketplace, go too low and you leave money on the table. One simple but powerful technique for pricing your home aggressively is to spend the day looking at your competitors’ homes. By doing so you will be seeing the world through the buyers’ eyes. Be tough and honest with yourself. Compared to the competition what would be a price that would position your home as the best value proposition for buyers in your marketplace?

Use price pointsBuyers don’t walk into an agent’s office and announce that they would like to see homes priced at a specific price like $227,900 dollars. Instead they ask to see homes between price ranges that are separated by five to ten thousand dollar increments. Because of this, consider setting your price near one of these natural price points. For instance a price $229,900 would probably net you exactly the same number of buyer inquiries as a price of $227,900, but moving your home down to $224,900 (the next price point down) would widen your potential buyer pool.

Consider value range marketingAnother pricing technique that may be the ticket to more showings and more offers is to use value range marketing. Value range marketing is a pricing technique in which you choose a listing price based on what you would sell for today if a buyer wrote you a check. You then choose another lower price – one that you wouldn’t reject if offered but would use as a starting point negotiate towards some middle ground. So instead of listing your home at a specific price of $496,000 dollars, you list the home between $459,000 and $496,000.

Offer a bonus to selling agentsThe agent who brings a buyer to your home is typically referred to as the selling agent or the buyer’s agent. In a market crowded with inventory many sellers find it wise to provide an incentive to motivate these agents to show their home more frequently. While you may cringe at paying real estate brokers even more money, the fact is it may provide just the push they need to work a little harder to sell your home for top dollar.

Hire an aggressive listing agentNot all listing agents are created equal. To find an aggressive full time agent, take the time to research the market, talk to friends, neighbors, and colleagues about who they recommend, and interview multiple agents before making a hiring decision. In addition, be sure to come to an agreement about a specific, documented marketing plan before signing a long term listing agreement.

Encourage two way critiquesSuccessful sellers aren’t afraid of a little (or a lot) of constructive criticism. In fact, they invite agents to give them helpful suggestions on everything, from pricing to curb appeal, to help them secure the highest possible price for their home. On the flip side, when hiring an agent, be sure to find an agent that is open to suggestions. For instance, as a seller you may find ways to improve advertising copy, flyers, photographs, or even virtual tours.

Offer incentives & pre-paidsA buyer who has narrowed their search down to two or three top choices may need a little push to motivate them to take action. To encourage buyers, many sellers offer incentives like buying the interest rate down on the purchaser’s loan, paying for closing costs, inspections, or repairs, or providing allowances or credits for home upgrades after closing. In addition, many sellers prepay for services like internet services for a year, taxes or homeowners association dues, or even golf club memberships.

Stage the home & use curb appealBuyers won’t pull the trigger unless they become emotionally invested in your home. To help build a stronger first impression start from the outside first by working hard to improve your home’s curb appeal. Next move inside and stage each space by creating a focal point and a story for each room. A set dining table, a book by the bed, or a game in the kids room are all simple examples of staging.

Use a pre-appraisal and pre-inspectionsA pre-appraisal is an appraisal of the home before a buyer has made an offer. By having this done early you will have an objective voice that has provided a value for the property independent of your own opinion and may be a great tool in talking with buyers. In addition, many sellers do pre-inspections of the home to provide buyers with a clear whole home inspection or pest and dry rot inspection. (A word of caution: anything discovered during a pre-inspection will likely need to be disclosed whether you fix the issue or not).

Learn to fail fastIf something isn’t working, successful sellers have the strength to fail fast by making adjustments to their strategy quickly. For instance, if after implementing your marketing plan buyers don’t begin to view your home on a regular basis, this is a clear indication (a red flag) that the market is rejecting your price. There is only one solution: lower your price. On the other hand, if you have steady stream of buyers touring your listing, yet you aren’t receiving any offers, this is often a symptom of buyers rejecting, not the price, but the home itself. Something about the home is turning them off. Savvy sellers attempt to identify the problem and take proactive action to correct it.

To sell your home for top dollar takes hard work and a commitment to position your home in a way that attracts the maximum number of prospective buyers. By implementing one or more of these techniques you will be taking the first step towards a successful sale.

The Trulia staff as compiled a

So you have decided to tackle a home improvement project, but like a mosquito buzzing in your ear a question lingers – Are you making the right choices when it comes to investing time and effort into improving your home? It’s a valid concern because not all home improvements are created equal.

To separate fact from fiction let’s take a look at the top 10 home improvement myths:

Any remodeling project will add value to your homeNot true – while many remodeling projects will add value to your home, some can be seen as a negative by future buyers. For instance, combining two smaller bedrooms to create one larger bedroom may better fit your lifestyle today, but it may cause the home to lose value in the eyes of a future buyer who needs the two separate rooms.

Buying the highest quality materials attracts more buyersInstalling the highest quality materials always seems like a wise decision, but it can backfire. For instance, using the most expensive tile in a bathroom may impress your friends, but value conscious buyers may opt for a more affordable home if you have over improved for your neighborhood.

Adding square footage always adds valueA better way to think about this statement is to insert the word useable into the sentence. Square footage in attics and basements that are finished, and by county standards considered livable, may not be attractive to a buyer if the space is sub-standard compared to the rest of the home.

Colors and textures – safe and simple is betterKeeping a home vanilla so that buyers can choose their own style and décor sounds like a safe bet, but it ignores the fact that most buyers just don’t have the ability to visualize the home differently. Without splashes of color and mixtures of texture, you could lose value to other sellers that have taken the time to consult with an interior designer.

Inside improvements are better than outside improvementsNot necessarily. If a home buyer can’t get past the exterior of your home because it has been neglected or doesn’t offer good curb appeal, all of the work you have done on the inside may not net you any more dollars. To get the biggest bang for your remodeling buck, start from the outside and work your way in.

Adding a bedroom is better than adding a bathroomIt depends on the starting point. If you only have one or two bedrooms to start with, adding a bedroom before adding a second bath is probably a wise choice since most buyers are more attracted to a three bedroom home. On the other hand, if you already have three bedrooms and only one bath, your next investment would probably be in a new bathroom.

Paint hides a multitude of sinsDry rot? Fungus damage? Mold problems? Carpenter ants? Termite issues? Nothing a can of paint can’t fix, right? Wrong! Not only does this practice violate disclosure laws in most states, it can set you up for liability after the sale as most buyers will want you to foot the bill for these hidden issues.

Converting a garage to living space is a great trade offNope. A garage conversion is almost always viewed negatively by future home buyers unless you replace the lost garage with another space of equal size (but then what’s the point?). If you are going to do one anyway make sure that the space can be easily converted back to a garage at the time of the sale.

Doing the work yourself will save you moneyFor many homeowners wiring a new lighting fixture or plumbing a new dishwasher is a no-brainer, for the rest of us it may end up costing us more later in repair costs when we have to order the work redone by a professional. Another consideration is local and state laws regarding remodeling work. In many states if you have purchased a home to remodel and resell, you must either hold a contractor’s license or hire a contractor to do the work for you.

Pools add value to your homeThis is only true if you live in areas where they are must have amenities. Be warned that this isn’t true for most areas of the country and the idea of maintaining a pool for ten months out of the year when it can’t be enjoyed won’t appeal to most buyers.

Becoming an informed home owner is the first step in making wise and profitable decisions when it comes to choosing the right remodeling projects. But don’t stop here. Talk to remodeling professionals, contractors, home improvement specialists, and local agents about what amenities are coveted most by home buyers in your market.

The Trulia staff has compiled a

An agent left a message on your voice mail. She will be at your home, buyers in tow, in less than forty five minutes. Sound the alarms, all homeowners to battle stations, you are about to encounter a showing appointment!

Oddly enough, buyer showings seem to occur more often than not at the worst possible times. So what do you do when you need to prepare for a showing without a lot of time? Let’s take a look at 10 ways to prepare for a showing:

Mini mop upsSweep the kitchen, bathroom, and entry way. If needed, use a cleaning towel or sponge to clean any spots or debris.

Dust the furnitureA quick wipe down of the furniture, TV screens, and computer monitors can help make each room shine.

Clean off countersAll counters should be clean and clear. Remove clutter as well – small appliances, knick knacks, and odds and ends should be stored.

Beds madeAll the beds in the home should be made. If your bed spreads are faded, dated, torn, or ripped consider updating them with new covers.

Garbage cans emptyAll garbage cans need to be empty. Also wash them out once a week and give them a quick spay of disinfectant to cut down odors.

Carpets vacuumedGive the carpets a quick once over to fluff them up. Focus your efforts on the entry and living room.

Lights onA dark home is gloomy. Turn on all the lights in the home, and open drapes and blinds to brighten the home. Also be sure your windows are clean.

Load the dishwasherClear the dishes off the counters by loading the dishwasher but don’t start the cycle if it will be running during the showing.

Load the washer and dryerClothes should be picked up and either placed in a hamper or loaded into the washer or dryer. Again don’t start the cycle if it will be running during the showing.

Pick up every roomWork backward from the entry point of the home to the furthest bedroom picking up everything up off the floors and counter surfaces.

Wow you have a lot to do in forty five minutes! Not to worry – if you can get the entire household to pitch in to help (bribery is a great motivator) you will be amazed at what you can get done in a short amount of time. Also don’t be afraid to pick your battles. If you can’t do everything, do the most important things first and if you’re lucky the agent might even be late!

The Trulia Staff puts together a top ten list to

If you have the bug to sell your home, you may want to grab a tool belt first. Why? In today’s hyper-competitive real estate market, agents often tell their clients that it’s a “price war and a beauty contest”. So in addition to being the best priced home on the block, you need to be sure that your home also delivers a knock out first impression.

A terrific way to position your home to attract the maximum number of suitors is to provide buyers with a home that is in turn-key condition. A turn-key home is one that a buyer can move into without inheriting a list of unfinished projects. So what are the top 10 ways to increase your home’s value? Let’s take a look:

Siding and exterior paintOne of the fastest ways to make a better first impression with buyers is to paint the exterior of the home and, if needed, to replace the siding. A fresh coat of paint will freshen up the exterior and modernize the appearance. Just be sure to use colors that will appeal to the largest number of buyers (sherbet orange is probably not a good choice). To experiment with different colors and schemes, try using virtual painting programs available at many paint manufacturing websites like Benjamin Moore Paints

Windows and doorsBy replacing old windows and doors with stylish and efficient alternatives, you may be able to attract buyers who may otherwise pass on your home only because it is a little more mature than its competitors. Although the choices can seem endless, by carefully reviewing the homes that are actually selling, you should be able to narrow down your choices. Also be sure to keep your proof of purchase since the IRS is now providing up to a $1500 tax credit for windows and doors installed before the end of 2010.

Landscaping and lightingInvesting in new sod, bark, rock, shrubbery, and trees can turn a tired looking front yard into an inviting space literally overnight. If you don’t have a green thumb, check out landscaping.com for ideas. In addition, consider how your home looks after dark when many buyers are still cruising the streets. Installing new lighting fixtures can both enhance the home’s ambiance at night and modernize the exterior during the daylight hours. For hundreds of ideas visit LightingDirect.

FlooringYour home’s floors need to be clean, modern, and stylish. They should tie the home together and flow seamlessly from one room to the next. So how can you be sure you don’t pick a carpet or floor covering that buyers will hate? Ask for advice from flooring experts like Shaw and become an open house junkie.

The kitchenIf your kitchen needs a face lift, consider updating the cabinets and countertops as well as the plumbing fixtures. However keep in mind that your home only has to be comparable to your neighbors’ homes – it doesn’t necessarily have to surpass them. For instance, purchasing granite counters may not impress value shoppers and may turn them off if they believe they will have to pay more for the home because of the higher cost. Want ideas on kitchen designs that will impress a buyer? Check out HGTV for inspiration.

BathroomsLet’s face it, we all spend a lot of time in the bathroom. So it’s no wonder buyers want their new bathrooms to be user friendly. New toilets, tubs, and cabinetry can be a big investment, but small projects like cleaning or replacing tile grout, re-caulking, and repainting can make old bathrooms sparkle. Pay special attention to the little things like chipped sinks and tubs, exhaust fans that may need cleaning, and dated light fixtures. For ideas and design tips visit KitchenBathIdeas.

LightingIf swag lamps are still hanging in your living room, it may be time to update your home’s lighting scheme. A well lit home can accent the best features of each room and provide buyers with a classic case of the warm and fuzzies. For instance, under-cabinet lighting in the kitchen can show off a unique view of the counters, while canned lighting in the living room can be used to highlight décor and design elements that might be missed otherwise.

Interior paintingLook inside almost any model home and you will quickly find that white is out and color is in. Of course, that doesn’t necessarily mean you can grab the nearest color wheel and paint brush and go to town. Colors still need to match each other and blend in with the décor of the home. Try to use accent walls to punch up the impact of your colors and visit local design centers for more ideas.

Roof and foundation systemsTo ensure that you receive top dollar for your home and avoid a deal breaking inspection report, now may be the time to get these areas of your home in order. Lenders often want to know that a roof will last at least another 3-5 years and that the foundation is keeping the entire home off the ground without any apparent failures.

Deep cleaningThe least expensive thing any seller can do before marketing their home is perform a deep cleaning of every surface in the home. A bucket, some soap and water, and a few rags can transform nearly any home into a show-ready model home. But don’t skimp. You need to dig in and get dirty, and yes, that means you have to clean under the stove and refrigerator. Not sure how to start? Visit The Housekeeping Channel for guidance.

Overwhelmed? Don’t be. Pick one or two items on this list that fits your budget and jump in. Work your way down the list, and you will know that you have made every attempt to put your home in the best position possible to impress a buyer.

I would hazard a guess that it is not that unusual for a celebrity to make real estate mistakes, just like any other “common” person. Ask Tara @ Trulia has an interesting insight; perhaps information we can all learn from for the full link

Tara’s friend is generally inclined toward intellectual pursuits recently took a trip out of town on her own. As she recounted her solo hotel stay, she exclaimed that the high point of her trip was being able to watch reality television without her family’s judgment. Tara told her that when her family gives her guff, she should point out that beyond the pure (albeit debatable) entertainment value, there are lots of lessons and takeaways that can be gleaned from the stars of reality TV, film and the music industry.

Unfortunately for celebs, when it comes to real estate, the lessons they can teach us tend to be cautionary tales. Behind their ultra-bright veneered smiles, many pararazzi magnets hide housing horrors and real-life real estate dramas.

Here are five Hollywood-inspired lessons to file in your mental rolodex under “Real Estate – What Not to Do:”

Celebrity Real Estate Mistake #1: Overspending. If you’d seen the episode of Real Housewives of New Jersey in which everyone’s favorite “Skinny Italian” table-flipper Teresa Giudice pulled out a fat bankroll of cash to pay for her four kidlets’ every little leopard printed, pink ruffled, pose-striking desire, it probably came to you as no surprise that her home with husband Joe ended up with their home – and all its contents – on the bankruptcy auction block in 2009. (To be fair, Giudice has always maintained that her home was not in foreclosure.) Nevertheless, the auction listing confirmed the worst overspending suspicions; the Giudice estate was laden with gilt rococo couches, faux marble chess sets, even a suit of armor!

Bottom Line: Los Giudices took lots of heat in the press for their over-the-top spending, but they certainly weren’t the only American family who spent so much at the top of the real estate market that they ended up with debt they couldn’t sustain and mortgage problems when the market crashed. Spend less than you make. Save up for rainy days. And ask yourself before you buy anything: Do I really need this? And if it’s a major purchase which could someday come between you and your mortgage payment, ask yourself this, too: Would I stake my house on it?

Celebrity Real Estate Mistake #2: Assuming the bank will work with you. Here, again, the Real Housewives are our teachers, but this time, we’re talking about Lisa Wu Hartwell in the ATL and Alexis Bellino in the OC. From the blogosphere and their own admissions, it seems that they both were in loan workout talks with their banks, having sought assistance with their upside down mortgages, when things went south.

Wu Hartwell (a real estate agent) and her baller hubby Ed were in the middle of negotiating a short sale on their home when the bank sold it at a foreclosure auction. Bellino and her husband, Jim, tried for months to secure a loan modification and keep their home, but had multiple foreclosure notices filed against their Newport Beach home as well before finally selling the place for nearly $2 million less than they owed on it.

Bottom Line: Many homeowners stop making mortgage payments in the hope it will “encourage” the bank to work with them and grant a short sale or loan mod – and the fact is, sometimes it works. Some banks even flat out tell their borrowers not to bother applying for help unless they’re behind on their payments. But the fact is, once you start missing payments the snowballing past due amount can quickly get out of hand, and take you from simply wanting a loan mod to the bank’s cooperation being essential to keeping your home. Before you start missing payments, understand that you could very well end up losing your home if the bank doesn’t play ball.

Celebrity Mistake #3: Knowing nothing about your own finances. Real Housewife of OC Lynn Curtin was shocked to tears when her teenage daughter was handed an eviction notice. She was surprised, but her husband wasn’t – he’d been hiding their deteriorating financial situation for a long, long time. The end result? She and her kids had to move out of their luxury waterfront rental home – and into Grandma’s condo.

Bottom Line: Ignorance ain’t bliss. No one but you is responsible for your awareness of your own finances, no matter what your division of labor with your spouse around paying bills or bringing home the bacon happens to be. Since homelessness is the most severe, but highly possible, real estate result of willing cluelessness about your financial situation, it behooves you to stay on top of what comes in – and goes out – of your accounts on a monthly basis (and to be certain your housing expenses are paid!).

Celebrity Real Estate Mistake #4: Flipping a house, expecting a fast fortune. In 2007, Ricky Martin paid over $16 million for this house, then poured a good deal of cash (and some very good taste I might add) into it, preparing to flip it. He’s made beaucoup bucks using this strategy in the past – but this one was timed all wrong. The market tanked right around the time he listed the home for sale at $22.5 million in 2007 – and it’s still on the market at $18.5 million! Given the fact that a mortgage on $16 million would run a mere mortal a cool $100K/month, it’s a good bet he’s losing money faster than his notorious hips can swivel.

Bottom Line: Flipping houses can be high reward, but it can also be high risk. Even well-connected, well-funded repeat flippers can occasionally take a bath. If you don’t have the cash to withstand a disastrous flip, don’t even try it.

Celebrity Real Estate Mistake #5: Not paying your taxes. In the face of tax liens in the millions of dollars and allegations of fraud by his financial advisor, Nicolas Cage lost at least 3 homes to foreclosure in 2009, and has at least one more still on the market. Comedian Sinbad’s new reality series actually opens up with a stand-up routine devoted, in part, to losing his home due to tax issues. Chris Tucker’s $11 million tax lien was publicized right before his 6,000-plus square foot Florida home went on the market.

Bottom Line: Of course, most of us don’t have the millions in income it takes to create millions in income taxes. Yet the IRS says around 10 million Americans – most of whom don’t have Academy Awards – fail to file their returns every year. Occasionally, late returns cause a domino effect into a tax problem that impacts an individual’s ability to pay their rent or mortgage. So, pay your taxes. Get a financial advisor or tax preparer with stellar references from long-time clients, and make sure you understand what’s going on with your taxes – don’t just sign the papers. (See Celebrity Real Estate Mistake #4.)

Simple and affordable do-it-yourself projects can greatly increase a home’s resale value, according to HomeGain’s annual home improvement and staging survey.

The marketing company surveyed nearly 600 real estate professionals to discover which DIY home improvement projects give sellers the biggest return for their buck. Here are six projects under $1,000 (amounts are estimated) that made the list.

1. Cleaning and decluttering. Remove any personal items, unclutter countertops, organize closets and shelves, and make the home sparkling clean.
$290 Cost
$1,990 Return

2. Brightening. Clean all windows inside and out, replace old curtains, update lighting fixtures, and remove anything that blocks light from the windows.
$375 Cost
$1,550 Return

3. Smart staging. Rearrange furniture, bring in new accessories and furnishings to enhance rooms, incorporate artwork, and play soft music in the background.
$550 Cost
$2,194 Return

4. Landscaping enhancements. Punch up the home’s curb appeal in the front and back yards by adding bark mulch, bushes, and flowers and ensuring current plants and grass are well-cared for and manicured.
$540 Cost
$1,932 return

5. Repairing electrical or plumbing. Fix leaks under the sinks, remove any mildew stains, and ensure all plumbing is in good working condition. Update the home’s electrical with new wiring for modern appliances, fix any lights or outlets that don’t work, and replace old plug points with new safety fixtures.
$535 Cost
$1,505 Return

6. Replacing or shampooing dirty carpets. Steam-clean carpets, replace any worn carpets, and repair any floor creaks.
$647 Cost
$1,739 Return
Excerpted from HomeGain’s 2011 Home Sale Maximizer Survey, www.homesalemaximizer.com

Here, Barbara Holland, CPM, of H&L Realty & Management Co. in Las Vegas, identifies some of the biggest liability mistakes common among those who haven’t yet learned the ropes.

1. Not having a written property management agreement. Even if you’re just helping out a friend and managing the property for free, you’re walking on thin ice if something comes up—like the need to evict the tenant.

2. Using a makeshift lease agreement. These agreements are easy to find on the Internet—maybe too easy. If the agreement isn’t thorough, or if it doesn’t include sections that are required by your state law, you’re leaving yourself exposed.

3. Not depositing the security deposit in a proper trust account. The proper place for the money isn’t with the owner. In some states, the trust account money must be in a separate property management trust account and not in the broker’s general sales trust account.

4. Not having the tenant sign a move-in and move-out form. This form includes a property condition disclosure. Without it, you have little recourse if a unit is damaged beyond the usual wear and tear.

5. Trying to incorporate a lease- purchase arrangement into the lease agreement. There’s nothing wrong with doing this, but it’s complicated, and if it’s not done properly, you could invite trouble. For instance, you could have a difficult time evicting the tenant for nonpayment of rent if the court looks at the arrangement as a purchase agreement.

Cory Boatright
Loss Mitigation Specialist

Cory has compiled a list for Spring clean items check list. Cory suggests: … try applying these bits of advice (courtesy of State Farm Insurance) throughout the season and you’ll keep your home running smoothly through the long year:
* Replace your furnace filter
* Clean the kitchen exhaust hood and air filter
* Check your electrical system
* Always have a multi-purpose fire extinguisher accessible.
* Make sure the light bulbs in all your fixtures are the correct wattage
* Review your fire escape plan with your family
* Consider installing a lightning protection system on your home
* Protect all your electrical appliances from power surges and lightning
* Have a professional air conditioning contractor inspect and maintain your system as recommended by the manufacturer
* Check for damage to your roof
* Run through a severe-weather drill with your family
* Repair all cracked, broken or uneven driveways and walks to help provide a level walking surface
* Protect your home from sewer or drain back-up losses
* Check all the fascia and trim for deterioration
* Check your water heater
* Check the shutoff valve at each plumbing fixture to make sure they function
* Clean clothes dryer exhaust duct, damper, and space under the dryer
* Replace all extension cords that have become brittle, worn or damaged
* Inspect and clean dust from the covers of your smoke and carbon monoxide alarms
Cory’s web site: click here:

Premier south Boulder building site. Vacant land, 8.1 acres, located in the historic town of Marshall, Colorado, located south of Boulder, off of (east) of 93 (Broadway) and east of El Dorado exit. Access property via old Marshall Rd. Property located (eastern boundary) on the corner of old Marshall Rd and Cherryvale to enjoy the excellent views, superb Boulder location.

MLS # 653174

Cliff Daniels – Broker
Active Properties
cliff@actprop.com
720 434 1418

Sellers can save with alternatives to major fix-up work. by Dian Hymer
For all of the details of the home pre inspection article, click here:

A successful home sale is one where buyers and sellers experience no after-closing disputes or legal claims. One way to maximize the chance of a happy ending is to have the property well inspected before the sale is consummated.