Movers or Do it Yourself?

Buying or selling a home usually means one thing: time to pull out boxes and start packing.

For some, packing for a move is a great opportunity to look through the memories and treasures they have gathered throughout the year. For the rest of us, it is a stressful task that we would just as soon get over as soon as possible. Finding boxes, wrapping breakables correctly, and then carting everything to your new home can be stressful, especially if you’re already busy with work and family responsibilities.

The alternative, of course, is to hire a moving company to pack and move for you. Although this is the more expensive option, it can save a lot of time, which is why most people choose to hire a moving company. However, they can be expensive, and it is sometimes easier to move on your own.

So, should you hire a professional, or do it yourself? It depends on a few factors:

1. How Much Stuff Do You Have to Move?

If you are moving from a small apartment into your first home, and you don’t have a lot to move, it’s probably going to be easier to pack on your own, and then ask some friends to help you. If your family is moving, including children and all of their things, it is probably better to hire a mover, unless you have a lot of extra time and patience. This is especially true if you have a lot of heavy, bulk, or difficult to move items, such as furniture.

2. How Far Are You Moving?

Are you just going across town, or are you going across the country? A short move, even if you do have a lot of stuff, can probably be done with the help of family and friends, if you don’t mind making a lot of trips. However, if you are moving a long distance, even more than 30 miles away, it is probably smarter to hire a moving company, or at least rent a moving truck. Being able to move everything in one load will be much easier, and won’t take as much gas.

3. How Much Time Do You Have?

If your time is at a premium, consider hiring a moving company. Professional movers can do the job with very little input from you while you continue on with your busy day. While you will need to be home while the movers do their initial estimate and while they are packing, you won’t be spending the weeks leading up to the move trying to do all of the packing yourself.

4. How Comfortable Are You With Someone Packing and Moving Your Belongings?

The chance of something getting broken by a mover is small, but it is still a possibility and one that should be considered. Even if you hire someone to do the packing and moving for you, you should still take the time to package any irreplaceable belongings yourself, and drive them to the new home in your own vehicle. Many moving companies ask you to pack any jewelry, antiques, or other valuable items yourself, to avoid something being broken accidently.

You should also consider how comfortable you are with someone going through all of your belongings as they pack. Some people are comfortable with this, but many aren’t. Instead of hiring movers to pack everything, pack all of your personal items, such as clothing, yourself, and let the movers handle things like dishes, books, and bedding.

5. How Much Help Can You Get?

If you live in a town surrounded by family and friends that can help out during a move, you may not need to hire a mover. This is especially true if you have friends with pick-up trucks. Spending a day moving as a team may even be fun. However, for those who do not have anyone nearby that can help, hiring a moving company might be the only way to move.

Hiring a moving company is a great idea, if you can afford it and can use the extra help. But don’t discount the benefits of moving yourself, especially if you can get help for free. Renting a moving truck might be all that you need to get everything moved.

Have you hired movers in the past? Were they worth the expense?

Greenwich Real Estate News - Afraid to Buy? Don’t Be!

Despite tax incentives, first time home buyer assistance, and low interest rates, it’s easy to understand why you might be afraid to buy a home right now. The market is still fairly unstable, and house values are still falling in some areas.

Buying a home is always risky, but it’s a risk that very commonly pays off. Real estate works in cycles—some years, the prices are up, during others the prices are down. It can be hard, not to mention frustrating, to try guessing what the next year or two will be like. Remember that buying a home is a long term investment. There might be a short term loss, but housing prices will go back up, and the home you buy this year will probably be worth more than you paid for it a few years from now.

Still, there are several fears that many first time, and second and third time, homebuyers face when considering purchasing a home, and they are all very valid. Let’s take a look at some of the most common fears, and see why you don’t really have to worry.

Fear 1: I might lose my job.

This is one of the biggest fears of potential homebuyers, and, in today’s economy, it is certainly valid. One of the best ways to alleviate this worry is to have a rainy-day fund in place before buying a home. Have enough money set aside to cover at least three month’s of mortgage payments while you look for a new position. And, while this is not a guarantee, and certainly no reason to be lax about payments, most lenders will not start foreclosure proceedings until you are two or three months behind. For those who are currently renting, this means that staying in a home after a job loss will be easier than staying in an apartment.

Fear 2: I won’t be able to afford my mortgage payments.

The easiest way to avoid this problem is to not buy a home that you can’t afford. Consider the amount of your payments, after taxes, interest, and any other applicable fees are added in. This amount should not equal more than 1/3 of your total monthly income. If you can get that amount down to ¼ of your take home income, that’s even better.

When you start looking for a mortgage, keep this number in mind. If you bring home $4000 a month, try to keep your mortgage payments around $1000, or less. Don’t take accept a mortgage with monthly payments over this amount. Also, make sure you have that rainy day fund saved, outside of what you used for a down payment. Having a cushion for tough times will make you feel more secure.

Fear 3: I’ll lose money.

This, unfortunately, is a risk common to any type of investment. The home you buy today for $150,000 might have sold for less three months from now, or may now be worth less after you’ve bought it. Unfortunately, it is hard to know when real estate values have hit bottom until after it has passed. If you wait too long to buy a home, you could very easily end up losing even more money, by paying considerably more for the home you by a year or two from now.

Buying a home is a long term investment. Even a short term dip in value doesn’t mean much, unless you are planning on selling. The market has dips and rises, but the overall trend is that home values do, eventually, go up. The average price for a new home in 1980 was $72,400. Today, that same home would cost $274,330. There are not many investments that go up $200,000 in value over 30 years.

There are definitely things to worry about when buying a home, but don’t let those worries automatically stop you from buying. Learn a little bit more about those fears, and see how you can alleviate them. Interest rates just hit a record low, averaging right around 5%. In the central NY area, some lenders are offering even lower rates. There will probably not be a better time to buy within the next 20 years.

So, what are you waiting for?

Greenwich Real Estate News - Short Sales: What You Need to Know

Short sale was a fairly unknown term, unless you were part of the real estate industry, until just recently. Although they are not a new concept, they weren’t as talked about as regular home sales or foreclosures. Of all the ways to buy a home, they are often the most misunderstood and confusing, but they can be one of the best ways to save money on buying a home.

A short sale is the purchasing of a home that is at risk for foreclosure for usually less than the home is worth. The current homeowner makes no money from the sale, but does get to escape with less damage to their credit score. It’s a complicated process because, unlike most home sales, the bank currently holding the mortgage has the ultimate say in whether or not a short sale can go through.

Here’s how it works. A current home owner is having difficulties keeping up with their payments, or maybe their home is worth considerably less than they are paying for it. At this point, they contact the bank and ask about the possibility of a short sale. If the bank gives the okay, the owner begins filling out the paperwork and then contacts a real estate agent to get the process started.

In a short sale, the bank accepts less than is actually owed on the home in order to avoid a costly foreclosure. A foreclosure can cost a bank thousands of dollars, not counting the time and effort that goes into it. To avoid this, many banks are willing to at least talk to a home owner about the possibility of a short sale. This is an excellent opportunity for buyers, allowing them to purchase a home for less than it is worth, in most cases.

There is a catch, however. Short sales are notoriously difficult to get accepted. The banks don’t want to lose any money on a home, and may stop a short sale if they feel that the amount offered is too low. Short sales also fail because of incorrectly filed paperwork and other small mistakes. It is important to know what to expect before you enter into a short sale, as either a buyer or seller. A buyer has to be dedicated to the home, and willing to work to get it. They must also be patient; a short sale can take months to go through, as opposed to a few weeks for a traditional home purchase.

New government incentives, offering banks stimulus money for each short sale they accept, have made banks more willing to accept a short sale. One of the best ways to successfully buy, or sell, a home through a short sale is to do some research and understand how the process works. Here are a couple sites to get you started:

A Field Guide to Short Sales

How to Handle Real Estate Short Sales

Would you consider buying through a short sale?

Greenwich Real Estate News - Four Steps to Making a House a Home

Congratulations, you’ve just bought a home! As you look around your newly acquired investment, you are first struck with a sense of pride, wonder, and excitement. As that feeling fades, a new one might take its place. You might notice that some of the walls have been painted a less than complimentary color, or that the carpeting has stains. Maybe the house just doesn’t feel like a home, your home.

That’s okay. It’s even perfectly normal. And, it’s a feeling that is easy to fix.

Before you do anything, start with a deep cleaning. Scrub the windows, walls and floors. Remove any window covers, and get a fresh look at your home. A fresh clean can make the home feel like it is yours—you’ve now put some work into it. That will allow you to really take ownership of the home.

Next, look at the walls. Are you happy with the colors, or would you like something different? Looking online for color ideas, or going to the local paint store for some paint swatches can inspire you to make changes. Consider the colors of any furniture, curtains, or other home items you already have. Find a color, or set of colors, that works well with the things you are bringing in to your new home. Just remember that it is easier to paint before you move everything in, if that is a possibility.

Flooring can be more expensive and more labor-intensive to change, but it can be worth it to get your home the way you want it. Before considering any changes, however, see if there are cheaper improvements you can make. Maybe the carpet only needs the care of a professional cleaning service, or perhaps the hardwood floor in the dining room needs to be sanded down and refinished. If you do decide to redo the flooring in your new home, be sure to consider how easy to care for the new flooring is. Picking something that looks nice, but will require a lot of extra work to keep it new, might not be right for everyone.

Now, it is finally time to move in your furniture. Set everything up, get settled, and take a look around. It is probably starting to feel like home now, right? Don’t hesitate to pick up accent pieces, new lighting, or other bits of décor to put your own personal style into your home. This is your place, and it should feel like you.

Even if you are still looking at homes to buy, keep these steps in mind. A house can change drastically with just a new coat of paint. It is easy to see a home for what it is, right now, when you are first viewing it. But I encourage you to take a closer look, and see a home for what it could be, with just a little work.

Greenwich Real Estate News - Three Questions Buyers Ask, and How to Answer Them

Chances are, you will have an opportunity to have a conversation with potential buyers interested in your home. And when you are talking to them, there are several questions that have a good chance of coming up. Knowing what they are ahead of time, and knowing how to answer them, can save you from an awkward moment later on, while you scramble for the best answer to give.

Why are you selling?

To them, the home you are selling may be the home of their dreams. They can’t imagine why you would want to leave. You want to answer honestly, but not scare anyone off. Maybe you need more (or less) space, or the yard requires too much upkeep. This is not the time to bring up the crazy neighbors, the window that leaks in a storm, or that woodchucks dig holes in the back yard. Keep your answer light and positive.

Are there any neighborhood changes planned?

Buyers want to know that the neighborhood they think they are buying is the same neighborhood they’re actually going to get. If you know that there are construction projects planned, or if there will be a new commercial site or residence going in nearby, let buyers know. But don’t miss the chance to play up any positive features in the neighborhood, like the new park, recently improved sidewalks, or vicinity to quality schools and shopping areas.

How much did you pay for the home?

This question has a few different parts. For one, buyers want to get a sense of how much you paid originally, and how long ago you paid it. This gives buyers a chance to see how much the home has appreciated over the years. It also gives buyers a sense of whether or not you might budge a bit on the price. If you bought the home five years ago, for $20,000 less than you are asking for now, they might have a little wiggle room in the price.

Buyers may also ask you, or your agent, about how much you still owe on the home, or if there is a second mortgage. Like many smart shoppers, these buyers are looking to see how low they might be able to get you to go on the price during negotiations.

Answering these questions is a little trickier than someone asking why you are selling. You could be forthcoming, and just answer the questions, but don’t give out too much information. How much you originally paid is a matter of public record, so the buyer (or their agent) could find out all on their own. Another option is to say you bought the home as a fixer-upper, and have put extensive work into the home, thus justifying your asking price.

As a seller, you should have ready answers lined up for these and other questions about your home and neighborhood. Be prepared with what you are willing to share, and what you want to keep to yourself.

Greenwich Real Estate News - Greenwich home sales up in November

Greenwich home sales market has improved over the past few months and real estate sellers hope that the improvemt will continues into next year.

For November there were 33 single-family home sales, up from 11 in November last year.

The average home price was still down about 8 percent, to $2.5 million from $2.8 million in 2008.

Major sales, included the sale of clothing designer Tommy Hilfiger's estate for $20 million.

This sale skewed the average home price number higher.

The median home price was down 21 percent, to $1.5 million from $1.9 million last year.

Buyers, sellers and agents are still waiting to find out where the bottom is for prices.

Greenwich Real Estate News - 75 Greenwich Avenue Retail Property Sets Record - Sephora Building Fetches $8M

Merof LLC just completed a $8 million sale of 75 Greenwich Ave. to 75 Greenwich Avenue Associates LLC.

This is a record for Greenwich Avenue on a cost-per-foot basis -- $1,428 per square foot.,"

The previous record of $1,238 per square foot for three buildings at 98 Greenwich Ave., which sold for $23.5 million in October 2005.

Excitement is returning to Greenwich Avenue.

Greenwich Avenue remains a popular and sophisticated shopping destination.

Sephora, an upscale cosmetics retailer that occupies 75 Greenwich Ave. is in the middle of a long-term lease for the 5,600-square-foot building.

22 Elm Place Co. LLC, owner of 356 Greenwich Ave., recently signed Apple.

Investors see Greenwich Avenue as a place with steady growth and little risk.

The average retail per-square-foot rent for the avenue is slightly less than $100. The majority of newly signed rents are now in excess of $100 per square foot.

Greenwich Avenue and Greenwich in general are safe bets.

Inquiries to the Greenwich Real Estate Office, Country Estates And Manors regarding Greenwich properties have been increasing.

Several Greenwich Avenue properties are owned by Europeans. Greenwich is internationally known. European investors get the advantage of a weak dollar.

The sale of 75 Greenwich Ave. is the only ownership conveyance on the Avenue this year, but the price is an indication that interest Greenwich commercial real estate properties.

There's great value in owning Greenwich real estate

Greenwich Real Estate News - Gift Ideas for New Homeowners

‘Tis the season for last minute shopping trips. If you’re buying for a new homeowner, you might be stuck between trying to find something unique and classy or something practical. You want something useful, but not something everyone else is already getting them.

There are a lot of options. Here are my top choices, based on the new owner.

A gourmet
Any cook knows that you can just never have too many kitchen gadgets, quality baking pans or new appliances. Unfortunately, there’s a good chance that the recipient already has an electric beater, measuring cup set and a blender. You need something different.

Consider a multi-tasking Panini press. Cuisinart offers a model with adjustable hinges, to allow for even the thickest sandwich. It also opens up, giving you a griddle or grill, depending on which of the contact plates you have in place. It’s perfect for everything from frying up eggs and bacon for breakfast to cooking up grilled chicken for supper. There isn’t a whole lot that this small appliance can’t cook up.

The Do-it-Yourselfer
Look, he already has a tool kit, and probably most of the power tools he could ever need, so unless you know specifically what he (or she) is looking for, you need to think just a little outside the box. There is a better alternative to a gift card from Home Depot. Actually, there are two.
A ladder. It sounds basic, but remember, the recipient has probably been living in an apartment for a while, and there just isn’t much of a need for ladders when you’re not responsible for outside maintenance. An extension ladder will allow them to reach even the highest sections of their roof, useful for cleaning out gutters, checking on shingles, or washing the upper windows.
The second option is to look at a subscription to a magazine or two. There are a variety of options out there, from Woodshop News and Popular Woodworking to Smart Homeowner and This Old House Magazine. There is also Do it Yourself Magazine. P

The Fashionista
The Fashionista is all about accessories. She has her own style, and she loves playing with new ideas. Unfortunately, unless you are very aware of what that style is, you’re going to be in the dark for finding the perfect gift idea.

First, think about what she already has displayed. That will give you a starting point. Then, try to find something neutral that will fit her style. A vase or a decorative bowl is a great start. You could also consider a set of picture frames, small statues, or some artistic holiday decorations.

The Homebody
This person wants nothing more than to curl up in the comfort of his or her new home. When you’re looking for gifts, think anything warm and snuggly. A soft throw, a new sheet set, or a set of candles or other home fragrance product will be the perfect gift.

The Outdoors Enthusiast
There’s something about having your own yard. For someone who loves to spend time outdoors, home ownership means having a place to call your own outside of the four walls of your apartment. A volleyball set, an outdoor table and chairs set, horseshoes, or even a grill would be a sure hit. Give them the perfect excuse to play outside this coming summer.

The Gardener
Owning your own home means being able to plant where ever you’d like, and for many gardening enthusiasts, their first home is the first chance they’ve had to really get into growing their own garden. A nice set of gardening hand tools is a great gift idea, combined with a pair of gardening gloves. Books filled with gardening tips or a gift card to a local gardening store are also popular choices. If you can go in with family and friends, or if you feel like spending a little extra, a rototiller is something almost every serious gardener has on his or her wish list.

The Host or Hostess
For your friend who loves to throw the best parties, or who really enjoys inviting friends and family over for dinner, you should be looking for the perfect host or hostess gift. A small wine cooler keeps wine at the perfect serving temperature. A serving set is also a good choice; allow them to serve their guests in style.

Greenwich Real Estate News: 9 Upcoming Open Houses This Weekend

19 Knoll St, Riverside, CT

* House For Sale: $1,525,000

* 4 Beds
* 3.5 Baths

* Sun. 1-3pm

46 Orchard Pl, Greenwich, CT

* House For Sale: $1,795,000

* 4 Beds
* 3.0 Baths
* 3,182 sqft

* Sun. 1-3pm

40 Cambridge Dr, Greenwich, CT

* House For Sale: $799,000

* 3 Beds
* 2.5 Baths
* 2,020 sqft

* Sun. 12-4pm

105 Hamilton Ave, Greenwich, CT

* House For Sale: $1,250,000

* 3 Beds
* 3.5 Baths
* 2,600 sqft

* Sun. 1-3pm

416 Davis Ave, Greenwich, CT

* House For Sale: $6,295,000

* 5 Beds
* 5.5 Baths
* 7,927 sqft

* Sun. 2-4pm

31 Ridge St, Greenwich, CT

* House For Sale: $1,999,500

* 3 Beds
* 2.5 Baths
* 2,232 sqft

* Sun. 1-3pm

240 Riverside Ave, Riverside, CT

* House For Sale: $3,485,000

* 4 Beds
* 4.5 Baths

* Sun. 12-2pm

63 Burning Tree Rd, Greenwich, CT

* House For Sale: $2,850,000

* 6 Beds
* 6.5 Baths
* 5,472 sqft

* Sun. 2-4pm

29 Hope Farm Rd, Greenwich, CT

* House For Sale: $2,595,000

* 5 Beds
* 4.5 Baths
* 4,261 sqft

* Sun. 2-4pm

Greenwich Real Estate News: Fire At Old Greenwich Gables

Condo fire in Old Greenwich

Danbury News Times

A firefighter wades through pools of water on the scene of a structure fire at the Old Greenwich Gables condominium complex at 51 Forest Avenue late Tuesday ...

UPDATE:

Old Greenwich residents remain homeless after condo fire
Greenwich Time

Fire marshal: Construction started Old Greenwich condo blaze
Danbury News Times

Old Greenwich condo fire burns into the night, displaces residents Greenwich Time

UPDATE #2

Residents struggle in aftermath of Old Greenwich condo fire

Greenwich Time

... watched fire officials inspect the damage from a vicious fire Tuesday night at the Old Greenwich Gables complex that left several families homeless. ...

Greenwich Real Estate News - Tommy Hilfiger Takes Huge Loss on Greenwich Estate!

Fashion icon Tommy Hilfiger has taken a bath on his nine-bath Greenwich, Conn., mansion – selling it for $20 million, a 40% discount from its original price. The palatial Round Hill Road estate was sold to an unidentified buyer, who couldn’t view the house until after Hilfiger’s wife, Dee, gave birth to the couple’s first child in September. Hilfiger, 58, who has moved to Manhattan, first listed the home for $27.9 million in February 2008. The price was cut to $21.9 million earlier this year.

The house, dubbed Stone Hill, has eight bedrooms, nine baths, a 2,000-bottle wine cellar, indoor basketball court, a massage room with waterfall and a home theater with a popcorn machine.

The design guru purchased the home in 2005 for $18 million.

Greenwich Real Estate News - Real estate board closed today No exciting news forthcoming so I’m off to buy a huge plasma TV and a half-price Nintendo

No exciting news forthcoming.

Enjoy the day off.

Greenwich Real Estate News - Home Sales Rising Due to Ending Tax Credit

Due to first time home buyers tax credit ending by April 30th instead of November 30th, home sales are rising as home owners rush to sign a purchase agreement by the end of April in order to qualify for the tax credit. Sales are expected to rise 1.4 percent which means an annual rate of 5.65 million which is up from September which was only 5.57 million. Even though sales are expected to drop in the winter months because the tax credit is not running out until later, this means an expected sales increase in the spring, which is also in most areas a better time for selling homes due to warmer weather.

Even though this is some good news for the housing market, there are still many people facing foreclosures. Fourteen percent of homeowners are either getting behind on their mortgage payments or were in foreclosure state by the end of September. Also, if unemployment keeps rising, than the housing market will continue to suffer. There are some plans to lower mortgage rates next year but the government is limited in being able to help the housing market.

The best thing that can be taken away from this news is that there is hope for the housing market because sales are expected to rise in the Spring, so even if things may seem slow this winter, don’t give up on getting that perfect house you want in the spring and if you are person selling your home, push more to sell in the Spring, when more homebuyers will be rushing to beat that tax credit deadline.

For more information visit: http://news.yahoo.com/s/ap/20091123/ap_on_bi_ge/us_home_sales

Marketing Mistakes to Avoid When Selling

When you have decided to sell your home and move on to your new future, it is important that buyer’s get a good first impression of your home. You want them to see it as a good comfortable, safe, nice place for them and their family. You want them to see it like you did when you first bought the home. This requires good marketing such as open houses, pictures, tours, networking, and more. If you know about marketing at all, you know there is good marketing and then there is marketing mistakes that can be bad. Here are some tips to help you avoid bad marketing when selling your home. This way you can sell your home faster and for the price you want and get on to that future.

Ask your real estate agent for tips
As your agent, they have experience in what sells a home and what may not be such a good idea. If you are looking to avoid bad marketing ideas, agents are an excellent first resource of information.

Avoid taking pictures that are too dark or cluttered
You want a buyer to see your home as bright, spacious and comfortable. Taking pictures in bad light or of a cluttered room may give off the wrong first impression and make a buyer lose interest.

Avoid withholding important information
If there are tons of homes for sale, it is important to include important descriptions and details that make your home stand out first the rest. If it does not, a buyer may look elsewhere before giving your home a chance.

Try not to be too restrictive about showing your home
If an agent cannot get in to show a buyer a home because of too many time or other restrictions, a buyer may not even want to do business with you as a seller. Try to be as cooperative as possible.

Avoid not including incentives for buyers
Buyers like knowing that there is an incentive to buying your home such as an allowance or credit toward home repairs, home protection plans, weekend getaways, and more.

Avoiding these marketing mistakes and talking about alternatives with your agent, will help you to sell your home faster in any market. That way you can get on to your new future with fewer worries and holdups and a new buyer can enjoy your home sooner too. So everyone wins.

Greenwich Real Estate News - Before it Snows

With the days getting progressively colder, it’s becoming harder and harder to put off the inevitable. Snow is coming. A lot of snow. And probably sooner rather than later.

You have maybe a few good weekends left to get your outdoor work taken care of. If you are planning on selling your home this winter, or even early in the spring, there are a few tasks that you really shouldn’t put off.

If you have any painting that needs to be done before winter, now is the time to do it. Pick a couple of sunny afternoons, or a nice weekend, and get it taken care of as soon as possible. Not only will new paint improve on your home’s curb appeal, it will also help to protect wood siding from the winter elements. Just be sure to pay careful attention to the weather reports; it is difficult to predict the weather in Greenwich normally, but it is even harder in the fall.

Rake up the leaves and fertilize your yard before the first major snowfall of the season. This will help your lawn look its best next spring, which is important if you plan on selling. This is also the time of year to plant bulbs for spring flowers. A bed of daffodils or tulips can make your home even more appealing to buyers when they begin blooming in the early spring.

Clean out your gutters one last time before the winter to minimize build-up over the next six months. Wash your windows from the outside, and scrub off your deck or patio. Winterize your lawn mower and other outdoor tools (clean them to remove mud, grass, and other debris), and pack them away in a garage or storage shed. Check your shovels, snow blower, window scraper, and anything else you might need this winter to make sure they are in good shape and ready to go. Pick up a bag of rock salt, and have it ready for the first icy morning.

While you are outside doing all of this pre-winter work, there is one more thing you might want to do. If you are smart, and interested in making life a little easier a month from now, this is the perfect opportunity to hang up the plastic hooks that come with many exterior Christmas light sets. The hooks are usually the worst part of hanging the lights. Get it taken care of now, before you are forced to do it in the snow and ice. You’ll thank yourself later.

Greenwich Real Estate News - Exciting News In Real Estate

here were two huge announcements made Thursday that are going to have a tremendous impact on the real estate market.

Fannie Mae announced a new program to slow down home foreclosures. Owners facing foreclosure will be able to turn their deed over to Fannie Mae, and then rent back the home for a year. After the year is up, owners will be able to rent on a month to month basis. The program was created to help owners that do not qualify for other loan workout programs. This “Deed for Lease” program is meant to help ease the transition for homeowners, giving them time to seek other housing. It also lessens the impact on neighborhoods.

There are a lot of questions still to be answered with the new Fannie Mae plan. For starters, will residents have the opportunity to buy the property back once they are back on their feet? It would make sense if they could, as it would keep the resident committed to the care of the property, but nothing really specifies that right now. Also, if the water heater breaks, or there is some other maintenance needed, who is responsible? Fannie Mae would own the property, which should put them in charge of repairs, but, again, there aren’t enough details provided about the new program.

The second big announcement is that, pending President Obama’s signature, the First Time Buyer Tax Credit is going to be extended through April 30, 2010. By that time, buyers need to have a signed sales agreement in hand for their home purchase. The home doesn’t actually have to be closed on until June 30th. Military personnel who have been deployed for at least 90 days in 2008 or 2009 will have until April 30, 2011.

The maximum income levels for qualifying for the tax credit have also been changed. The limit is now $125,000 for single buyers and $220,000 for couples, up from $75,000 and $150,000, respectively. It is hoped that this expansion will put an end to the latest dip in home sales, which fell again in September and October, with the end of the tax credit looming.

With these two programs in place, there is a better chance of the real estate market getting back on its feet without another major decline. With less foreclosures on the market, there will be a smaller backlog of inventory (homes) waiting to be sold. The buyer credit will encourage more people to become home owners for the first time, making a (hopefully) major dent in the current inventory. And, if Fannie Mae will allow Deed for Lease participants to buy back their homes, that will prevent thousands of homes from ever entering the market, which will help to keep the number of homes for sale at a lower amount and help to turn everything back around.

Greenwich Real Estate News - Off-season Home Buying Tips

With the housing market still trying climbing back up and mortgaging prices getting lower, it is a good time this fall for home buyers to look at buying that home that meets their every need. Even though home buyers are at an advantage because home sellers have to be more flexible in this market, there are still some things you need to know to help you purchase that home that is just right for you. Here are some tips for home buying in the off-season to help get you started on your way to that perfect home.

Make sure you have job security
Even though home sellers need to be flexible and the housing markets are favorable towards home buyers, it is still important to be confident in the amount of money you have to spend and also to save before looking at possible homes. This way you do not go over your budget.

Save up for a down payment
It is important to make sure you have enough saved up for a down payment to put on a house. This way you know you will have enough money to secure the house that you and your family want. Otherwise another buyer may be able to buy it first.

Pay attention to home trends and markets
Prices and markets can go up and down every single day. It is important to pay attention to the home trends and markets in the place you want to live. It is also a good idea to do your homework so you can get the best deal possible.

Look closer at rising taxes
It is also important to pay attention and look closer at rising real estate taxes. Know how much they will go up and make sure that you are prepared for these increases. This way you can know that you will be able to afford your home in the future.

These tips for home buying during the off season or in the fall, will help you to work on getting the home that is truly best for you and your family. This way you will have less to worry about in the future. You and your family can just enjoy your new home and future with peace of mind.

Greenwich Real Estate News - Homebuyer Credit Gets New Life

Key lawmakers in the Senate have tentatively agreed to extend the existing $8,000 tax credit for first-time home buyers and also offer a new $6,500 credit for existing homeowners who have lived in their current residence for a consecutive five-year period in the past eight years.

Home buyers must be under contract by April 30, 2010, and close before July 1. House Democrats have expressed concern about the cost of the tax credit for the government, and allegations of abuse have resulted in an IRS probe of the program.

Source: Wall Street Journal, Corey Boles and John D. McKinnon

Greenwich RealEstate News - Credit for first-time homebuyers set to expire at end of November, plan will remain until end of April

WASHINGTON – Senators agreed Wednesday to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers.

The tax credit provides up to $8,000 to first-time homebuyers but is set to expire at the end of November.

Senators agreed to extend the existing tax credit for first-time homebuyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years, said Regan Lachapelle, a spokeswoman for Senate Majority Leader Harry Reid, D-Nev.

The tax credits would be available to homebuyers who sign sales agreements by the end of April. They would have until the end of June to close on their new homes, said a congressional aide, who spoke on condition of anonymity because he was not authorized to publicly discuss the deal.

Senators were still negotiating the expansion of a separate tax credit that lets money-losing businesses get refunds for taxes paid in previous years, providing them with an immediate source of cash.

Senators in both political parties were hoping to add both tax provisions to a bill that would give people running out of unemployment insurance benefits up to 20 more weeks of federal aid. The Senate could vote on the overall bill as early as Thursday, but lawmakers were still haggling over several unrelated amendments Wednesday evening.

Source: Associated Press 10/28/09

Greenwich Real Estate News - Smart Off-Season Tips for Buyers

Everyone’s been saying “Now’s the time to buy,” for quite a while, but for many who’ve been waiting on the sidelines, the autumn “off-season” of real estate may indeed be the right time to act.

Anybody who is trying to sell a house going into the winter months has to be flexible, and you should be able to get good deals. With mortgage rates at record lows and favorable home prices, buyers should be active.

Here are some tips for buyers to help ensure a successful close:

• Secure Employment: Buyers must have a stable job in order to feel comfortable about the purchase and to get approved for a mortgage.
• Spotless Credit: Credit scores above 720 still get the best mortgage rates, as lending remains tight. Help buyers to correct any errors on their credit reports.
• Build Cash: Let house hunters know that the days of no-down-payment loans are a relic of the past. Depending on the situation, they’ll need to put down at least 3.5 percent of the purchase price.
• Follow Uncle Sam: Though the first-time home buyer tax credit is set to expire November 30th, there’s talk it may be extended into 2010. Buyers may still be able to take advantage of this opportunity, but pay attention to the news out of Washington to see if eligibility will be extended.
• Be Ready to Bargain: Purchasers are in a position to ask for a lot more if a seller needs to move. If you think the floor needs to be replaced, ask for it.
  

Greenwich Real Estate News - NAR: Housing Tax Credit Is Working

Consumers are just starting to see the first glimmers of a bright future for the housing market and the overall economy. It’s up to Congress to make that glimmer a reality by building on the momentum created by the $8,000 home buyer tax credit. That’s what National Association of REALTORS® First Vice President Ron Phipps, told the Senate Banking, Housing and Urban Affairs Committee Tuesday during a hearing on “The State of the Nation’s Housing Market.”

One of the key ways to do that is for Congress to extend the home buyer tax credit, “The data on the present home buyer tax credit show that the credit has had its intended impact—sales have jumped in recent months to a projected 5.1 million for the year and housing inventory has been trimmed, thus stabilizing home prices noticeably,” Phipps said. He also pointed out that each home sale generates approximately $63,000 in additional economic activity, providing a tremendous economic boost to the national economy.

“But it is a fragile recovery, and now is the time to build on home sales momentum by extending the tax credit throughout 2010 and expanding it to all home buyers,” he said. The present credit, due to expire on November 30, cannot help new purchasers now who write a contract today—they won’t be able to close before the deadline, and will lose out on the credit, said Phipps. “Without congressional action now, the market and our national economy may freeze again—possibly as soon as this month.”

Make Loan Limits Permanent
Phipps called upon Congress to take action on a number of additional fronts to strengthen the recovery. First, make the FHA and Fannie Mae/Freddie Mac loan limits permanent; these are set to expire on December 31. “Maintaining current loan limits would ensure that families have access to low-cost financing to purchase homes and can refinance problematic loans into safer, more affordable mortgages,” Phipps said.

Secondary Mortgage Markets
In addition, Congress should continue the federal government’s involvement in the secondary mortgage market. “Without the government’s involvement in the secondary mortgage market, market participants will have no incentive to reach out to lower-income, creditworthy consumers. We must ensure that the housing market works in all markets and at all times, and that mortgage capital is provided to all potential and qualified purchasers in a way that promotes sustainable homeownership,” said Phipps.

—NAR

Greenwich Real Estate News - Good Housing News Predicted

All the leading indicators say housing is definitely on the mend, economists reported in advance of the official release of several pieces of good news expected this week.

Bloomberg News surveyed 53 economists and asked them where they expected the numbers to fall. Here are their predictions:

• Construction starts in September are expected to hit a 610,000 annual rate, the most since last November.
• Sales of existing homes likely rose to a two-year high.
• Because of fear of a relapse, the Federal Reserve is predicted to leave interest rates low for a few more months.
• Building permits, a sign of future growth, probably rose to a 590,000 annual pace, also the highest level since November, the Commerce Department is likely to announce.
• The National Association of Home Builders/Wells Fargo index is expected to rise to 20 from 19, the economists say.

Google Inc. plans to resume hiring and acquisitions after its third-quarter sales beat analysts’ estimates. CFO Patrick Pichette says: “We weathered what is an incredible recession. If you have all this behind you, the only outcome you should have as management is: ‘OK, let’s build now.’”

Source: Bloomberg, Courtney Schlisserman (10/18/2009)

Greenwich Real Estate News - Congress Debating the Tax Credit

Congress is considering expanding and extending the $8,000 first-time homebuyer tax credit, which expires Nov. 30.

More than 1.8 million home buyers will have used the credit by the end of November, including an estimated 355,000 who wouldn’t have bought a home without it, according to the National Association of REALTORS® and other analysts.

Mark Zandi, chief economist for MoodysEconomy.com, is among those in favor of extending the credit. Zandi would also make it available to all homebuyers. “The most fundamental argument for the credit is that nothing works in the economy if housing is falling,” Zandi said. “[The credit] is a good insurance policy. It’s vital to stem the housing price declines.”

Opponents argue that the tax credit is too expensive and doesn’t help enough people.
Extending the credit through the end of 2010 and making it available to single filers earning up to $150,000 and joint filers earning up to $300,000 would cost an estimated $16.7 million. Some in Congress propose using unspent money from the $787 billion stimulus bill to pay for it.

Source: CNNMoney.com, Les Christie (10/14/2009)

Greenwich Real Estate News - Greenwich Home For Sell

Greenwich Starter Home

THIS LOVELY ORIGINAL 4 BEDROOM COLONIAL HAS A FRONT PORCH OVERLOOKING THE PROPERTY. GENEROUS SIZED ROOMS AND A LOWER LEVEL...

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Greenwich Real Estate News - Condo For Rent

Greenwich Condo Living- Why Rent?

New to the market, this stunning three bedroom, two and one half townhome is an absolute joy to own in...

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Ask Greenwich Real Estate Broker James Martin - Buyers Real Estate Agent

Question:

If you see a home at an open house and decide to make an offer, is there a buyers real estate fee?

Answer:

I believe what you are asking is, if you walk into an open house without an agent and make an offer, does the seller still pay both "halves" of the commission? The simple answer is yes. Even if there is no buyer's agent involved, the seller must pay the full commission to the listing agent.

If you meet an agent at an open house, they are representing the seller. You can hire them, via a Buyer Representation Agreement, to represent you, too. In such a case, you and the sellers would also have to sign Dual Agency agreements, since the same firm will be representing both of you.

It is always recommended that you choose and hire your own agent to represent you. No need to go to random open houses, but, rather, have an agent working for you and helping you select which homes to view at your convenience.

Greenwich Real Estate News - Tips for Pre-Marketing your Home for Sellers

When you are planning to sell your home but have not put up that for sale sign yet or listed your home, marketing is still an important and necessary step. The first step to good marketing is getting the word out there and this is even important when the house is not on the market yet. Doing some pre-marketing may help to sell your home faster and may save you time and money in the long run. Here are some pre-marketing tips for selling your home to help get you started.

Tell your friends, relatives and even your neighbors
Your friends and neighbors may have people they know that might be interested in buying your home or they may even be interested too, plus your neighbors know about the location and may even know about your home so they can help spread the word.

Put an ad on the internet
Even if this not an official real estate listing, getting buyers interested now may help the selling process go easier for everyone later. Try websites such as craigslist, zillow, or even Google to post a pre-listing.

Make up flyers and post them around work or surrounding neighborhoods.
We all have seen those whole made garage sale signs; well this is the same thing. Put up flyers around your work or neighborhoods near by to let possible buyers know that you will be listing your home very soon.

Make a checklist and plan
It is a good idea to make up a pre-marketing plan and the things that you want to include. It is also a very wise idea to keep your real estate agent informed about every step of this plan. That way it will make selling easier for everyone.

It is never too early to market the selling of your home. Getting the word out about your home before it is put on the market can especially help when you need to sell your home quickly or you want to do a short sale. This can help take some of the burdens and worries off of you for later on. This way you can just focus on your new life and future in a new home.

Greenwich Real Estate News - Custom Built Rental

Custom Built with Detailed Craftsmanship (Rental)

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Greenwich Real Estate News - FHA Is Having Busiest Year Ever

About 25 percent of all new mortgages are backed by the Federal Housing Administration in what will probably be the busiest year yet for the federal agency.

Applications for FHA mortgages rose 50 percent from last October through mid-August 2009 and approvals for purchases, refinancings, and reverse mortgages rose 70 percent to 1.67 million.

FHA loans “are one of the most important sources in this market,” says Mark Zandi of Moody’s Economy.com. “Without FHA, the housing slide would be much more severe. We wouldn’t be talking about a recovery now. We’d still be talking about a crash.”

Some analysts are concerned about the risk the FHA has taken on, but others point out that borrowers with FHA-insured loans now have an average credit score of 690, compared to 630 two years ago. Borrowers with a credit score below 500 must come up with a 10 percent down payment.

Source: USA Today, Stephanie Armour (09/02/2009)

Greenwich Real Estate News - Now’s the Time to Buy in Real Estate

Investors are returning as the real estate market recovers.

BusinessWeek’s real estate guru Marc Roth points out these opportunities, which he says make sense if investors are willing to look over the property carefully and ask tough questions.

Options they should consider include:

• Buying a single-family house. This could be a first home or a dream home or a home to rent out.
• Buying a multi-family investment property.
• Snapping up a vacation property. There are deep discounts to be found in high-end resort areas.
• Investing in a Real Estate Investment Trust. REITs were hit hard in the downturn, but many are on their way back.

Source: BusinessWeek, Marc Roth (08/26/2009)

Greenwich Real Estate News - Graduated Payment Mortgages

If you are a first time buyer or just a buying that only has a certain amount of income right now, finding financing to help you purchase that new home may be a challenge. You do have options though and one of them is a graduated payment mortgage. This type of mortgage has a lower payment in the beginning to help you get started. This may be a good option, especially if this is your first home. Here are some tips about graduated payment mortgages to help you out. This way you can have less to worry about and just enjoy your new home and future.

Starts out with lower payments
Graduated payment mortgages start out with lower payments that increase over the next few years. This allows you to have more money while you are looking for a better job or waiting on a promotion.

Allows you to save for later
This loan allows you to save money for later for home repairs or remodeling or just to budget more for those later increased payments

Good for starter homes
If you only plan to stay in the home for a few years and then move, this is the loan for you, because it has those lower payments in the beginning and may not increase until your income does, so it is good for first homes or starter homes.

Has a fixed rate and maturity
This loan has a fixed interest rate and maturity so that is good since the payments may increase over the years. Just make sure you budget well for the increases that will happen.

If you are just starting out and this is your first home, there is so much to think about and consider. Following these tips and advice about graduated payment mortgages will at least help get you started and give you one less thing to worry about. This way you can focus more on your future and your new home.

Greenwich Real Estate News - Greenwich Ranch Style Home For Sale

Spacious Four Bedroom Ranch in Greenwich CT

A very spacious ranch style home in King Merritt Association. This home sits on a lovely 1 acre parcel on...

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Greenwich Real Estate News - First-time homebuyer tax credit: 5 essential tips for new buyers

With the revised first-time homebuyer federal income tax credit currently in effect, now is the perfect time to consider making that big purchase, your first home.

"Buying a home is one of the biggest financial commitments a person can make, but first-time homebuyers and qualified return buyers are in an ideal position to take advantage of unique opportunities in the market, such as low interest rates and the choice among an abundance of for sale homes.

But before you sign on the dotted line, Country Estates Anad Manors a Greenwich real estate firm offers some helpful tips to ease the transition into homeownership.

Learn about the first-time homebuyer federal income tax credit

If you are considering purchasing your first home, or have not owned for at least three years, learn the parameters of the temporary first-time homebuyer tax credit, which is one of 10 provisions of the American Recovery and Reinvestment Act signed into law on Feb. 17, 2009.

According to FederalHousingTaxCredit.com -- a consumer Web site created by the National Association of Home Builders -- for those who qualify and purchase before Dec. 1, 2009, the bill provides a tax credit of up to $8,000, calculated at 10 percent of the purchase price. Unlike the previously available credit from 2008, the money does not have to e repaid, as long as the homebuyer does not resell the house for at least three years. "The tax credit can help make the American dream of homeownership a reality for potential buyers who previously could not afford the investment," says Young. He adds that potential homebuyers should consult with a professional tax advisor for full details on how the tax credit may benefit them.

Calculate what you can afford

Before you start searching for your new home, know what you can afford. According to the U.S. Department of Housing and Urban Development, your total monthly mortgage payment -- which includes principal, interest, taxes and insurance -- should be about 29 percent of your monthly gross income.

What you can afford is also based on, among other things, how large of a down payment you can make and how much money you can borrow. You can start estimating this figure by using an affordability or loan calculator found on the Internet. These calculators can help compute what may fit comfortably within your budget based on factors such as annual income, annual debts, interest rates and credit score. Though Internet calculators and statistics are good references, it is recommended that you consult a financial advisor to determine exactly how much you can afford.

Choose a neighborhood

After you determine your home buying budget, think about where you want to live. Are you going to stay in your current neighborhood, or do you want to hit the open road and start fresh? No matter what, you should thoroughly research the demographics of the area. Some additional factors to consider are how far you will be from work and shopping -- and if you have children, do some careful research on schools.

Make a wish list of needs and wants

Early in the home-searching process, list your basic needs such as minimum square footage, number of bedrooms and bathrooms, location and of course, the price you can afford. Web sites of leading real estate brands should have guided property searches that allow you to choose one or more of these criteria. If there are features that you would love to have in your home, but could live without, put them on your "want" list. This includes things like a pool, big yard, extra bedroom, etc.

Work with an experienced real estate professional

Searching for and purchasing your first home is an exciting experience, but it can be overwhelming. To help each step in the home buying process run smoothly, consider working with a seasoned real estate professional. Choosing a professional who is knowledgeable in your local and national markets, has access to the newest listings, and can help you negotiate prices, will increase the chances of finding your dream home.

Tips for Buying a Home from a Builder

More often these days, people go to “parade of homes” events or talk with their friends and family and decide to buy a home directly from a builder instead of looking for another home. This way they get exactly what they want and it is brand new. Buying a home can be challenging though and buying from a builder has its own challenges. Here are some tips for buying from a builder to help make the process easier and more enjoyable for everyone.

Shop around for a lender
You may think it is easy to just go with the builder’s lender, but this may not always be the best choice. They may overcharge you or not really listen to your concerns and needs. It is best to shop around for the right lender that will best fit your needs.

Obtain legal advice
When buying directly from a builder, sometimes they just write up an agreement that is best for them and not the buyer. Make sure to ask plenty of questions and know your rights. Also, make sure you get an agreement that works for you as well.

Hire a home inspector
It always a good idea to hire a home inspector when buying any home. Home builders have certain requirements but it is a good idea to make sure everything is done properly and any repairs are made before you purchase the home.

Ask around about the builders
Make sure the builders have a good reputation for building good quality homes with good construction. It is a good idea to ask other people that went with the same builder or to ask your agent for information on the builders.

These tips will help make the buying process easier for everyone. Buying a home can be challenging, but it should also be an enjoyable and rewarding experience as well. These tips will help make sure everyone is on the same page and help make sure there are fewer problems in the future.

Do It Yourself Home Improvements to Avoid for Home Buyers

When you have finally bought the home that is right for you and your family, you may want to update it or remodel some and you may want to save money by doing it yourself. There is much to consider and think about when you are planning to make home improvements by yourself. If you are not careful you could end up costing yourself money instead of saving money. Here are some do it yourself tips to avoid to help save you time, money, and worries in the future.

Make sure to always check on codes and obtain a permit
Without getting your house up to code or obtaining a permit, you are violating the law. Also, if someone finds out that you did not get a permit, you could have to start over and this will cost even more money.

Always make a written plan for work
If you do not write out your plan for the work that you will be doing, you may underestimate the time it takes to complete a job. This will not only cost you more money, but will make some areas of the house hard or impossible to use.

Make a budget
Under budgeting for the improvements or repair work may cost you more money in the long run. It is important to know if you have enough money for the jobs you plan to do and also budget for unexpected.

Hire a professional if needed
Trying to handle a job that you are under qualified for can not only be costly, it can be unsafe and dangerous for everyone involved. If you really are not sure whether or not you can complete a job by yourself, it is always best to consult a professional.

These tips will help you to avoid mistakes and more problems when you go about improving, repairing, or remodeling your new home. This will save you time and money and also worries far into the future. This way you can work on getting your home just how you want it with peace of mind.

Greenwich Real Estate News - Uncle Sam wants to help the First-Time Greenwich Homebuyers

The U.S. Housing and Urban Development Secretary Shaun Donovan on May 29 announced the Federal Housing Administration (FHA) will allow homebuyers to apply the Obama Administration’s new $8,000 first-time homebuyer tax credit toward the purchase costs of an FHA-insured home.

He said this action will help stabilize the nation’s housing market by stimulating home sales across the country. The American Recovery and Reinvestment Act of 2009 offers homebuyers a tax credit up to $8,000 for purchasing their first home. Families can access this credit after filing their tax returns with the IRS. The new announcement detailed FHA’s rules allowing state Housing Finance Agencies and certain non-profits to “monetize” up to the full amount of the tax credit (depending on the amount of the mortgage) so that borrowers can immediately apply the funds toward their down payments.

Home buyers using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.5 percent of appraised value or their closing costs, which can help achieve a lower interest rate. You may visit the HUD web site to learn this new rule.Currently, borrowers applying for an FHA-insured mortgage are required to make a minimum 3.5 percent down payment on the purchase of their home. Now the lenders can use the tax credit as additional down payment, or closing costs, which can buy down the interest rate.

In addition to the borrower’s own cash investment, FHA allows parents, employers and other governmental entities to contribute towards the down payment. This action permits the first-time homebuyer’s anticipated tax credit under the Recovery Act to be applied toward the family’s home purchase right away.

The Administration’s homebuyer tax credit is estimated to stimulate 160,000 home sales across the nation -101,000 of will be first-time buyers to receive the credit. .Homebuyers should beware of mortgage scams and carefully compare benefits and costs when seeking out tax credit monetization services.

For every FHA borrower who is assisted through the tax credit program, FHA will collect the name and employer identification number of the organization providing the service as well as associated fees and charges.

FHA will use this information to track the business closely and will refer any questionable practices to the appropriate regulatory agencies, as necessary.

Greenwich Real Estate News - Landscaping tips to Sell Your Home

If you are trying to sell your home, you know that much work goes into the process. You have repairs to do, an agent to hire, open houses to hold, plus all the future plans and packing for your new home. When trying to sell your home, the outside of the home matters as much as the inside. If a buyer does not like the outside they may not even bother coming inside. So here are some landscaping tips and advice to help you make your home look even nicer and ready to sell.

Ask your Greenwich real estate agent for advice
Real estate agents have experience with what buyers like and what may turn them off. They are a great resource in helping you to get the right curb appeal to sell your home.

Add some contain plants to decks and patios
These areas are right where a possible buyer will enter and leave your home, so having eye catching beautiful plants are a good idea. They may also lead the buyer to think about possibilities they could do with the home if they bought it.

Buy fresh mulch
This will help your place look inviting because everything will look new and attractive to a possible buyer. Plus, it does not cost that much and is easy to apply.

Add color plants both outside and inside
Adding color will help draw in a buyer’s attention and also makes the house look nice and well maintained. These are all things that will make a buyer feel more comfortable about looking at your home.

Repair faucet links and plumbing problems
If a buyer sees a faucet leaking even outdoors, they may be concerned about plumbing problems and other concerns and may pass up your home, so it is a good idea to make these repairs to not scare buyers off.

When selling your home it is a good idea to care about how the inside of your home looks, but the outside may be what attracts a buyer from the start, so it is important that the outside looks good too. With these landscaping tips, you may be on your way to a sale and on to your brighter new future in no time at all.

Greenwich Real Estate News - Exterior Staging

When you’re trying to sell your home, you know how important staging is. Potential buyers want to see a home’s potential. That means taking out clutter and a lot of personal decorations, such as family snapshots. Buyers need to be able to picture the home as their own.

The same is true of the exterior of your house. A cluttered, unfinished backyard can kill a sale as easily as a cluttered home can. One of the first things that a buyer will see is the front of the home. You can boost your curb appeal considerably by doing a little landscaping. Plant some shrubs or trim the ones already in place. Plant some colorful flowers (annuals are cheap and easy to plant). Make sure that walkways aren’t overgrown and that the grass is cut short. Watering regularly in the weeks before showing your home can assure a green lawn.

Space sells. That’s true not only inside your home, but outside as well. Move lawn furniture to create a more open look if you have a small yard. Clear clutter and cut down weeds. Put any children’s toys into storage, including pool toys and small climbers.

Putting in some new plants can also help you to set the stage for potential buyers. Be sure to label as many plants as you can—buyers will appreciate knowing what plants you are using. Many home and garden stores have blank stake labels that can be slipped into the soil next to the plant. Make sure any weeding and pruning is done before potential buyers arrive. Putting in some mulch can give flowerbeds a very fresh look, adding to the exterior value of your home.

Rent a pressure washer to clean off decks, lawn furniture, patios and walkways. Refinish the deck if needed. It doesn’t take long, but will drastically improve your chances of selling fast. If any lawn furniture is rusty or has chipping paint, scrape it down and apply some new paint. Arrange a seating area, clean off the grill, and even buy a new lawn piece or two, if needed. Your goal is to create an area that looks perfect for barbecues, get-togethers with family and friends, or even just lounging after a long day of work.

Part of staging the exterior involves working on the house itself. Clean any debris from the roof and clean out the gutters. Spray down the siding. Touch up the paint job if needed. Make sure windows are clean from the inside and out. Another thing to consider is how your yard looks from the inside of the house. Look out windows, and make sure that your yard is arranged for maximum impact. This is often the first impression buyers will get of the backyard—make it count.

Staging your yard shouldn’t take more than a weekend, but it can radically change the look of your home. While the front of the home, the curb appeal, is important, don’t overlook the ways that a few hours of work can perk up the rest of your yard as well.

Real Estate Investment Tips

People may consider buying a property or piece of land and then making a profit from it by renting it out, using it as a time-share and sharing it with others or for other reasons. Whatever the case, there are certain things that need to be considered when making a real estate investment. Here are some real estate investment tips to help get you started. This way you can save time, money, worries, and get the most for your money in the long run and enjoy your future and your investment for a long time.

Think about your Goals
Consider your goals before making an investment. It is important to know and consider what you want to get out of your real estate investment. That way you can plan ahead as you pay mortgages and consider when you want to sell the property for a profit.

Pick a Good location
When making any investment, location plays a part, but when investing in real estate location is a big player. You want to pick a location that people are going to want to live in so you can make a profit. You can always make improvements but you cannot move a property.

Study the property well
If you find out all you can about the property, you will know whether it is a good or bad investment. Look into property records and pay close attention to details, they may cost you money or help you make money.

Learn Good negotiation skills
It is important that if you are going to invest in a property, you know how to negotiate well. Negotiating can help make you money or it can cost you money depending on how well a negotiator you are. Study tips from real estate agents and read all you can.

There is much to consider when investing in real estate. Making mistakes can cost you money, but avoiding those mistakes and investing wisely can help you to profit in a big way. These real estate investment tips will help you get started so you can enjoy your investment and your future profits.

Tips for Renting Out your Home

The housing market is struggling right now in many areas and many sellers are finding it harder and harder to sell their homes. This means that many sellers are paying mortgages and payments for two homes if they already bought a new one or they are losing money by keeping their home on the market. One way that many sellers could avoid losing any more money and time, is to rent out their house. This may also serve as a tax cut for some people and can be a very wise idea in these times. Here are some tips for renting out your home to get you started.

Check if your property has rental restrictions
Some properties in some areas have certain restrictions about renting, so it is a good idea to check with the building and zoning authorities to see if your home has any.

Review your mortgage paperwork
Sometimes certain mortgages have rental restrictions while the mortgage is still active, so it is important to look to see if there are any and what they might be.

Interview possible tenants
It is a good idea to interview possible tenants while you are showing the property. It is also very important to ask for applications, security deposits and rental and credit history. That way you know your tenants are reliable and will pay the rent on time.

Walk tenants through your home
On the day your tenants plan to move in to the home, walk through it with them and make sure they sign a “property condition agreement” and report any problems they see with the property by a certain date. Otherwise you can charge them for damages done to your home after that date.

Every seller wants to of course sell their home for the best possible price. However, with the housing market down that may be tough and this way renting your house will bring some money in and you will not lose as much money. Plus your renters could be possible buyers in the future. This will help put your mind at ease and give you more confidence for selling in the future.

Greenwch Real Estate News - Tools for First Time Owners

There are a lot of details to take care of when you are buying your first home. Paperwork, hiring a moving company, getting packed and preparing to move into your new home are probably at the very forefront of your thoughts, but there is one more thing you should be thinking about as you prepare to move in.

If you have been renting for the past several years, you probably have not had to do any repairs and haven’t had a lot of use for anything much more than a basic tool set. When you buy a home, that changes. All of the sudden, you are responsible for fixing everything from leaky windows to broken cabinets. A hammer and screwdriver just isn’t enough anymore. Before moving in, or within the first few weeks, you’ll want to go out and pick up some essential tools to keep around your home.

Start with a basic tool kit, and keep it someplace very convenient. You won’t want to run out to the garage every time you want to hang a picture or measure something. A basic tool kit contains a hammer, screwdriver, wrench, level and measuring tape. Better kits might have a few other small tools thrown in.

There are a few smaller, essential purchases that you’ll want to add to your tool collection, starting with a utility knife. These are super handy when you’re unpacking, but are also something that you’ll reach for often to help you cut everything from packaging to drywall. You’ll also want a variety of clamps, nails, screws and other fasteners. For quick repairs, pick up a bottle of wood glue. Many homeowners would also recommend a quality caulk gun, for resealing showers, cabinets, and any number of other areas around the home.

The worst time to realize that you need plumbing tools is when you really need plumbing tools. Right then, because the toilet, sink or shower is clogged or maybe you even have water coming up the drain. Pick up a couple of plumbing snakes (at least two different sizes—one larger and one smaller) and a few plungers. You’ll want one for each toilet, and then at least one more for use on sinks and showers.

Most power tools aren’t essential unless you’re tackling some big repairs, but there are two that every home owner should have. Start with a power drill. You will use it a lot when you are moving in, for hanging things on the walls, but it’s also something that will see a lot of regular use. Most homeowners use their power drill more than any other household tool. You will also want a saw, either manual or a table saw. You may not need it right away, but eventually you’ll be faced with a repair or remodeling project that will require a saw.

You’ll also want to pick up a book on basic home maintenance. A good book will explain painting, plumbing, drywall repair, and numerous other simple projects that most homeowners can handle on their own.

Greenwich Real Estate News - After the Movers Leave

You bought a house, packed up all of your belongings, and hired a moving company. Now, you are standing in your new home, the movers are pulling out of the driveway, and you feel…

Overwhelmed. Everything you own is in a box, scattered around the house. Or, more likely, stacked in what will, someday, be your living room. So, where do you start?

First things first—you will need a place to sleep tonight, and so will your family. Set up the beds first. Ideally, you have all of the bed linens in one box, and it’s labeled and easy to find. Once the beds are set up, unpack all of your toiletries.

At this point, concentrate on getting boxes to the right rooms. Don’t start unpacking until all of the boxes have a home, and then tackle one room at a time. If you have wrapped your dishes in newspapers or something similar, they will need to be washed. Pop the first load into the dishwasher while you start on the bedrooms. Put dressers and other furniture back together, and start putting things away, one box at a time. Break down and stack empty boxes in an out of the way area when you’re done with them.

As the dishes finish up, start putting them into the cupboards. Your perishable foods should already be taken care of, but now you should start on the rest of it. It might take a little while to figure out how you want to organize your new kitchen. Remember that you can always change things around later; right now, you just need to get everything out of the boxes and in some sort of order in the cupboards. Unpack and put away appliances and anything else that belongs in the kitchen while you are at it.

Put together the rest of your furniture. Don’t worry too much about where it is going right now. Just make sure it is in the right room. Next, start setting up offices, entertainment centers, and other electronic areas. Before you begin setting them up, though, look for your outlets. There is nothing worse than getting everything all set, only to realize that the cord is just a little bit to short to reach a power source.

Start unpacking each room. Put books on shelves, stack toys into toy chests. This is the longest, and most frustrating part of the unpacking process. It probably seems like it will never end! It’s okay to take breaks, and to let this task stretch out over several days. Just remember to keep boxes waiting to be packed set out of the way, and to take care of the empty boxes as you clear them out.

Seasonal or seldom-used items can go into storage, without being unpacked. Carefully label each box before storing it, and then pack it away in the attic, basement, garage, closet, or where ever else you are using for storage.

Unpacking takes a while, a long while. Just remember to do it in small chunks and take breaks. Don’t think you need to have everything done within a day or two. Unpack what you need, and then unpack as you can after that, even if it is only a box or two a day.