Before you dive into a major renovation project to give a house your special signature, consider how long you’re likely to stay in the house.

A lot of people get into trouble by going into a home they’re only going to be in for a relatively short period of time, and they start doing renovations and additions that are sort of on their fantasy list, but they’re not going to be there long enough to really enjoy.

Here are four reasons to proceed with caution, particularly if you want to maximize your chances of a profitable resale later on.

1. High maintenance – If your upgrade requires too much upkeep, buyers may view it as more of a nuisance than an asset. A prime example is an in-ground swimming pool, which can cost a small fortune to install, secure, heat and clean.

2. Overdressed – Luxurious amenities can be a good selling point, but only if they blend in with rather than outshine what the neighbors have. Having the nicest home in the neighborhood can be a bad thing when it’s time to sell. A prime example would be upgrading the kitchen in an entry leval home to reflect remodeling from high-end home magazines.

Home staging, a method of presenting an Auburn home in its best light in order to appeal to the broadest audience base, has gained recognition through several popular cable television programs such as “Designed to Sell” and “Sell This House.” It can range from simply repainting walls to tearing them down, or from changing window treatments to replacing windows. It now offers many more varied services to the client, such as moving in and resettling, event staging, holiday decorating, de-cluttering and organizing and one-day re-design. Home staging has boosted Auburn home sales prices on many occassions, as well as quicken the amount of time the home stays on the market.

Getting references for home stagers and checking those references is essential. Auburn home owners should interview staging candidates and visit homes they staged.

In a hurry to sell your home? Here’s how to make sure you give yourself the opportunity to snag the best price in shortest amount of time.

1. You have to seriously undercut the competition – Selling a home in a down market almost inevitably means settling for a disappointing price. But to unload your home fast, you’re going to have to dip 10% to 15% below what comparable homes in your neighborhood recently sold for. You still may not be able to compete with foreclosures and short sales, but at least you stand a chance of getting buyers to notice your listing.

2. Outside fixes have the biggest impact – Since your house won’t be cheaper than the distressed property down the street, it has to look much better. But you may not have the time or money to redo the kitchen, so focus on cosmetic improvements that will bring the most buyers to your door.

Spending $1000.00 can go a long way toward improving your home’s exterior. Get the outside of your house power-washed, paint the door, replace the knocker and kick plate, and hire a gardener to give your yard some TLC and add some coloring flowers.

3. First-timers are your friend – The most efficient way to market your home is to target the most likely buyers.

The average age of the first time home buyer is 30, and to boost your chances of reaching today’s buyers, you need to think outside of the traditional box. get yourself a snazzy online presence and spread the word  through social networks like Facebook and Twitter.

Selling Your Home? Watch the Pet Odor

To some people, pets are like their children. For others however, they may be highly allergic and can’t stand being around them. When it comes to selling your home, your pets odor, dander and hair, not to mention any damage they’ve done to the home, should be considered problems you need to fix.

While you might not notice a pet smell in your home, chances are someone who doesn’t own pets will notice one, no matter how clean you keep your floors, or how often you change the litter box. So what’s a pet owner to do? Well, if a speedy and generous offer on your home is your goal, you might have to invest a bit of time and money cleaning up after your pet.

Appraisals: Who’s to Blame for Low Estimates?

Who exactly IS at fault when an appraisal comes to a less-than-desirable valuation? And what IS a home appraisal based on?

Appraisals are typically handled through the mortgage company and appraisers are often selected from a network of appraisers with which the lender company is affiliated. They’re an unaffiliated third party. Often times, there’s confusion because the homeowner is informed about the cost of the appraisal by the mortgage company/banker, when actually there is no mutually beneficial relationship.

Buying and Selling a Home

Buying and selling a home in this real estate market is not for the faint of heart!

In today’s fluctuating financial climate, there are many areas that one needs to examine before they buy or sell a home.

For instance, if you’re thinking of buying a foreclosed house, you must ask not only the price, but about the financing that is offered, and what shape the property is in. Often, but not always, the most recent owner has left the home in disrepair. But it is a reality and you must make an intelligent decision as to whether or not the home is worth fixing up. Foreclosed homes can be a bargain or a burden.

Pricing Your Auburn WA Home To Sell – Making Smart Decisions In A Buyer’s Market

In the process of selling  your Auburn  home, the single most important item to address is pricing. Pricing your Auburn home has several factors which must be addressed in order for the outcome to result in successfully attracting a buyer. This is especially true due to the fact that  most local markets are experiencing what is termed a “buyer’s market.”

A “buyer’s market” is, in simple terms, one in which there are more homes for sale than there are buyers for those homes; basically a glut on the market. This can occur when the banking industry experiences a record number of homes they have in foreclosure. In this case, these foreclosed homes have saturated the real estate market, increasing inventory beyond the market. Another factor may be that people who are currently renting are hesitant to commit to a long term mortgage, even at lower interest rates, because of job instability.

What this means to someone who is attempting to sell a home is that the asking price must fall within the range of what a buyer will pay for a home in a specific location. This “magic” price is determined by the following statistical facts:

• comparison of asking price of other, similar and non-similar, homes that are in the vicinity of the subject home
• comparison of actual sold price of other similar and non-similar, homes in the vicinity of the subject home that successfully closed escrow
• how many homes are currently on the market that are comparable to the subject home
• how long other homes in the vicinity of the subject property have been on the market
• location of the subject home
• condition of the home

A seller’s true competition is the other homes on the market. By looking at the asking price of other homes, it can be determined what the current competition is. Upon analyzing competition, whenever possible it is best to come in slightly under asking prices of the other homes if at all possible. This places the seller’s home in the primary position when buyers are making their lists of the best priced homes. It is a mistaken belief that buyers and sellers are in an adversarial position. In actuality, a buyer and a seller want the same thing.

The actual sold price of other homes provides guidance as to how much the market will bear for the property. It is best to look at homes that are the same style, similar amenities, and within the same area as the subject home, but not absolutely necessary, especially in today’s market. Buyers are looking for the best deal, not necessarily a particular style. The actual sold data is the strongest indicator as to how to price a home to sell.

There are a couple of helpful pointers when reviewing how long other homes have been on the market: those that are currently active on the market, those that have received a contract on them but have not closed escrow, and those that have closed escrow. This number, termed “days on market” or “DOM,” provide information on an estimated time it will take to sell the home. This figure needs to be analyzed with the asking price history.

The location and condition of a home are generally the easiest to consider.  If the home is located in a desirable area, but is in poor condition, or vice-versa, it will have an impact on the price.

In essence, you need to tie the contributing facts together, starting with the hopeful sale price based on other listings, then what they are actually selling for, and the volume of houses in your price range, and neighborhood. Then, throw in the desirability and condition of your home, and your price will finally be set. This takes some patience and courage, but the final result will be more showings which means more potential for a successful sale.

Many people on the brink of foreclosure have been asking the question, “is it better to let the bank foreclose on my home, or should we try to get a short sale instead?”

There is no hard and fast answer to this question, but here’s the basic difference:

On a short sale, basically you sell the house for less than what the mortgage is worth and the lender forgives the difference.

The problem is that your FICO score will drop about as much as it would with a foreclosure.

Call it the Great Housing Paralysis. If you’re hoping to buy your first home or invest in a second one, you’re probably sidelined, unsure when to jump in. If you want to sell, you’re thinking it may be better to wait.

As you’ve heard countless times, you should think of your home primarily as a place to live, not as an investment. And it’s nearly impossible to time the bottom perfectly.

If you’re trying to sell your home right now, stop kidding yourself with the thinking that your house is still worth what it was a year ago.

Remodeling: Which Area is Best?

Thinking of remodeling your Auburn WA home? Trends and times have changed. It used to be that the best place to invest your remodeling dollars was in the kitchen or bathroom updating. But to make your renovation dollar go furthest, focus on the part of the house everyone sees first.

Replace or repair your siding!

Payback: 82% to 87%

Cost: $10,000 to $13,000 for the typical house.

When it makes sense:
Your existing siding is visibly worn or has suffered damage (from a storm, for example).

Selling Your Auburn WA  Home: Will Anyone Want to Look?

According to statistics, 80% of all new home buyers will use the Internet to check things out and then do a “drive by” on their own before ever contacting  a real estate agent to see the house. Will anyone want to even see your home? Does your house pass the initial “Curb appeal” test?

To give your home curb appeal – think “white glove clean”. The operative word here is PICKY! No old newspapers or junk mail lying about, no recycle bins and not a weed in sight.

Selling an Auburn house can make a person into an eternal nagger! Teenagers wash their car and leave the sponge and bucket on the driveway; younger kids come in and drop pucks and gloves at the front door and bikes are always hastily dumped on the driveway. You know the routine…

These items can be temporary; The question is, do you have any permanent fixtures that must be moved?