At Home With Valerie

Selling Your Home?   In this market – and possibly this very moment – sellers across the country are  asking themselves one question: why isn’t my home selling?   While each client’s situation is unique, and we all think our homes are special, there is one underlying factor that makes or breaks a buyer’s decision to settle on   your   home: PRICE.   Pricing your home correctly in this market is one of the most critical actions you can take to sell your home faster – it"s also one of the most difficult decisions you’ll have to make as a seller. Which is why so many people won’t do it. What sellers have to realize is that by making the decision to price correctly from the beginning they may be staving off further financial damage. For some, that means getting creative about finances, for others, it can sometimes translate to taking a small loss. In some cases, taking a small loss may be the best scenario. Let’s look at it another way. John...

Does your bathroom make you feel claustrophobic?  Some simple design choices could help you open it up. Check out these tips for small bathrooms. Not everyone can afford a master bath with twin sinks, a palatial tub,and luxury dual-headed shower.  Some of us (well, most of us!) have to contend with reality. Reality means compromises, and sometimes that compromise means a small bathroom. But just because a bathroom is small doesn’t mean it has to feel small. In fact, many small bathrooms can be transformed into much larger-feeling spaces simply by making some adjustments to design choices. Here are some design tips for your small bathroom that don’t involve major renovations. If you’ve been living with a small bathroom, perhaps these tips will help you make the most of what you have until you decide it’s time to make the upgrade: 1. Install a sink with open shelving undernea...

Have a major expense coming up? Not sure how much you might need, but suspect it’ll be big? Learn about the power of a home equity line of credit (HELOC). Part of the financial power of home ownership resides in your home’s equity.  Unlike rent, which goes into a landlord’s pocket, the equity you build in your home can be a useful financial tool when the time is right. Home equity is defined as, “a homeowner's unencumbered interest in their real property—that is, the difference between the home's fair market value and the outstanding balance of all liens on the property.” (Source: Wikipedia) A home equity line of credit (HELOC) is a useful way to access the equity in your home. Unlike a home equity loan (HEL), the HELOC operates more like a credit card. Rather than draw a fixed amount at one time, you’re able to draw on the line as-needed. Like a credit card, though, a HELOC can be risky. Since your home secures the line of credit, a failure to keep up with the p...

In recent years, there has been a troubling increase in the number of con artists, thieves, and other criminals masquerading as prospective home buyers in an attempt to gain access to a property, or worse, its occupants. As an experienced REALTOR®, I'm trying to do my part to make the home selling and buying process smoother and safer for all involved.  To help prevent home sellers from falling victim to unscrupulous criminals, I have compiled a list of effective security precautions that I'd like to share with you today. Do screen prospective buyers over the phone, asking as many questions as you need to feel comfortable, before making an appointment. Don't make an appointment with a prospective buyer until you've gotten their name and number and verified the information. Do leave the prospective buyer's name and information with a trusted neighbor, friend, or relative before showing the home. Don't provide information about your home...

Now that you've signed all the paperwork and your loan is approved, it's time to move in.   But wait!  Before you put your feet up, there are a few things that you will need in order to make your new house a home. Locks Regardless of whether you purchase a newly constructed home or one that was formerly owned by someone else, it's important that you have the locks changed.  Everyone from REALTORS® and contractors to friends and family of the former owner may have a key, which is why getting new locks should be at the top of your list. Furnishings You can't hang your hat without a hatrack, so don't forget to add some necessary furnishings.  Some homes may include appliances and possibly even some furniture, but most homeowners prefer to decorate their house themselves.  After all, someone else's taste in decor may not necessarily be the same as your own.  If you purchase from a furniture store, they will handle the delivery fo...

Unfortunately, fraud and identity theft are increasing at an alarming rate every year, and mortgage fraud is one of the most important types of fraud from which you will want to protect yourself.  So what constitutes mortgage fraud, and how can you prevent this from happening to you? What Is Mortgage Fraud? Essentially, mortgage fraud is defined by the FBI as any material misstatement, misrepresentation, or omission relied upon by an underwriter or lender to fund, purchase, or insure a loan.  There are several different types of mortgage fraud, and each is a serious offense that can have a huge impact on you and your credit.  Here is a basic list of the most common types of mortgage fraud. Undisclosed Kickbacks- This includes any financial deals between a buyer and seller that are not included in the mortgage documents. Falsifying Income- Inflating your income is a serious offense on any loan document, especially a mortgage. Undocumented Non-Owner O...

It can be hard to see your home through a buyer’s eyes.  Sometimes you’ve become so used to your rooms you lose the ability to see when a room needs an update.  The bedroom is notorious for making or breaking a buyer’s decision to make an offer. Here are some signs yours may need an update. Bedrooms don’t come with an expiration date, but some really should. When buyers are touring a home, a stale bedroom with outdated style can be a deal-breaker. Problematically, many sellers simply can’t see their own bedrooms honestly anymore. Give your bedroom the “has it gone bad?” sniff test by checking for these common signs of stale design: Your ceiling has more popcorn than the home theater: Is your ceiling a constellation of dusty, stained popcorn texture? Nothing says “state of the art 1950s design” like the popcorn ceiling. Removal can be a dirty job, and you’ll want to have it checked for asbestos before you do, but getting rid of it goes a long way to modernizin...

A reverse mortgage is a financial option available to seniors which allows them to free up some of the accumulated equity in their home.   This may be an appealing option for obtaining some extra income in your retirement to use for a variety of reasons; however, there are some important considerations to weigh before borrowing against your greatest investment.   Here are some facts about reverse mortgages, and some tips for making the right financial choice. What Is A Reverse Mortgage? Sometimes called a lifetime mortgage, a reverse mortgage allows you to borrow against the equity in your home, which can be paid out either in one lump sum or in several payments over time.  This amount does not have to be paid back to the lender during your lifetime provided you stay as a resident in your home and it remains your property.  That percentage of the value of your home which you have taken out now becomes the property of the lender, and will ...

When it comes to a home, you have two options: buy or rent.  What is right for one person may not be right for another, which is why it's important to know which is the best option for your individual situation. Why People Rent There are a number of reasons why someone may either choose or be forced to rent, including sporadic or unpredictable income, a high debt-to-income ratio, a bankruptcy or foreclosure within the last six months, unpaid collection accounts or judgments, frequent relocating for employment or the inability to save enough money for a required down payment on the purchase of a home. Maintenance Matters As a homeowner, you will be responsible for any maintenance or repair issues that arise.  This is a big consideration when choosing whether to rent or buy.  When you rent, the property owner is responsible for repairs and it may not always be obvious that these issues can be very costly. How To Know When It's Time To Buy If you h...

Think you know the ins and outs of home pricing? It’s more complex than you might imagine.  Get a quick education on home pricing with this blog post on tough pricing truths. The pricing conversation is always a challenge. You want top dollar for your home, and your real estate agent will, too.  After all, a better commission comes from a better price.  But a lot of psychology and strategy goes into home pricing, and if you don’t go in with your eyes wide open, you could end up heartily disappointed. Here are some tough truths about home pricing. While they can vary a little depending on unique market conditions, they should all be in the back of your mind as you prepare to list. 1. Some agents will try and “buy the listing.” Sad but true: Some agents will tell you what you want for the home is accurate, even if it’s too high. Figuring they can manage disappointment and reductions down the line, the less-than-ethical agent will try and cut off the ...