Showing posts with label homeowners. Show all posts
Showing posts with label homeowners. Show all posts
Thursday, February 7, 2013
Thursday, December 20, 2012
Setting the Stage for a Home Sale
By Ruben Gonzalez Jr.
Prudential California Realty (DBA)
“You
never get a second chance to make a great first impression.”
This
saying strikes a chord in the real estate industry, where many buyers are quick
to jump to a conclusion about a potential home after just one glance. That’s
why an increasing number of homeowners are employing professional home stagers
to prepare their homes for sale.
“Much
of what staging accomplishes happens on a subconscious level,” said Carla Grammatica, a consultant
with Stage Setters in New York ’s Westchester County
With 91% of
buyers searching first on the Internet for homes, MLS photos and virtual tours
are extremely important in the selection process. Staging, as a priority
instead of as a last resort, will give sellers key advantages.
Stagers
help eliminate clutter, give advice on adding colors, help in rearranging
furniture and bring in various items to help spruce up a home.
“One
of the most important things is getting rid of things that look messy,” Grammatica said. “Life
can get messy, especially with kids and storage issues, but you have to pretend
that’s not how you live. You have to pretend your house is [always] neat and
well maintained.”
That
means picking up shoes from the hallway, removing papers from tables and
furniture and even taking down personal items—such as diplomas, pictures and
trophies.
—that clutter the walls.
Professional
stagers take into account buyer demographics and buying psychology, and they
use design elements in planning out the rooms, space and lighting. “Some
people think that staging is simply cleaning and packing up some of your
things, but it is so much more than that,” said Linda Barnett, a certified
staging professional with Indianapolis–based Home Matters. “Understanding
traffic patterns and highlighting the positive attributes of a home while
downplaying its negative features, all go into play.”
One
tip homeowners can do to stage their home themselves is to pack away unneeded
items—such as seasonal clothes and old books—and put them in storage.
It’s
also important not to overwhelm potential buyers with wild colors and
furniture, even if you think it makes your home “special.”
Remember,
making your home look like a model rather than lived-in can make all the
difference in selling a home.
Ruben Gonzalez can be reached at (562) 507-0754 or Email me.
Prudential (dba) is an independently owned and operated member
of Prudential Real Estate Affiliates, Inc., a Prudential company. Equal Housing
Opportunity .
Saturday, November 17, 2012
Saturday, November 10, 2012
The Psychology of Color on your Home
By Ruben Gonzalez
Prudential California Realty (DBA)
Agents
frequently suggest that homeowners paint before placing their
homes on the market. Don’t be offended!
Agents
understand “color psychology,” which focuses on color’s effect
on human behavior and emotion. Since people’s reaction to color is
immediate, color has a tremendous influence on the choices they make
every day.
“Color choices
are very personal and when selling your home, it’s critical to
appeal to the greatest number of potential buyers,” said Allegra
Dioguardi, president of Styled and Sold Home Staging in New York.
“With so many people beginning their search for a home on the
Internet today, your home and listing photos must stand out from your
competition. Color is one very simple way to do this.”
Added Eric Brown,
one of the authors of House Selling for Dummies: “Painting
your house’s exterior before you put it on the market will give the
biggest bang for your fix-up buck, as long as you are using colors
that conform to the neighborhood’s decorating norm.”
Colors affect human
beings in many ways, and by using the principles of color psychology,
you can make your home stand out from the competition, sell more
quickly, and at a higher price. In short, the stimulus and effect of
colors normally cross cultures. Blues will feel cool, reds and
oranges feel warm. Deeper shades of color imply intimacy and
serenity.
Your
home’s exterior color is the first thing most potential homebuyers
see when they drive up or inspect the property on the Web. The
correct color may be the most powerful and cost effective design tool
at your disposal.
What
is “correct” these days? Brown’s research shows that homes
painted in pale yellows with cream or beige accents have sold fastest
during the past few years.
In
general, lighter colors are favored for exterior as they make the
property seem larger. Conversely, painting your sideboards with a
darker color will make the house seem smaller, though dark colors can
draw more attention to home’s details.
For those painting
an older home, you may want to consider historical accuracy, as this
could be a big selling point as well.
When choosing
interior colors for the home, consider the purpose of each room.
Kitchen and dining areas painted in “food colors” such as coffee
browns, celery greens and scrambled-egg yellows will make the rooms
feel more natural.
Hallways are a
great place to bring in the exterior colors for overall harmony.
According to
Jeanette Fisher’s book Joy to the Home: Secrets of Interior
Design Psychology, since, deeper shades of color imply intimacy
and serenity, she recommends painting master bedrooms a medium shade
of green or blue for warm selling seasons, and rouge red for cooler
weather. Other bedrooms can be painted in creamy tones of green,
blue, or a pale shell pink.
For your bedroom
and bathroom, cool colors can form a relaxing atmosphere with paint.
Consider shades of blue, green or even lavender.
Of course, common
sense should help you with any color choices. You need to match other
things in your home and keep a comfortable environment as well.
Ruben Gonzalez can
be reached at (562) 507-0754 or E-mail.
Prudential (dba) is an
independently owned and operated member of Prudential Real Estate
Affiliates, Inc., a Prudential company. Equal Housing Opportunity.
Tuesday, July 17, 2012
Hamp Program Extended
By: Ruben Gonzalez Jr.
Prudential California Realty (DBA)
President Obama in a recent State of the Union address spoke about homeownership and how the American Dream has dissipated for many due to lingering challenges in housing and mortgage lending.
The President offered hope to more homeowners by extending the Homes Affordable Modification Program (HAMP) until Dec. 31, 2013, and widening the program’s eligibility criteria.
HAMP allows qualifying homeowners with Fannie Mae or Freddie Mac mortgages made prior to June 1, 2009 to refinance to a better rate and more favorable terms. It also provides incentives to participating mortgage lenders that reduce principle for qualifying borrowers.
Millions of additional homeowners may be eligible for HAMP to reduce their homeownership costs and avoid foreclosure. Originally, the program was designed to reduce mortgage borrowers’ debt ratio to 31% of their incomes, and those below that threshold were not eligible. These borrowers may now apply for HAMP consideration, as can borrowers struggling under the weight of other liabilities, such as medical bills.
Eligibility also has been extended to owners of rental properties – as many as 700,000 landlords may qualify for loan modification under HAMP.
Moreover, borrowers who were approved for a HAMP trial period, but did not make the payments as scheduled, would now be eligible for consideration under new guidelines. Also, homeowners who missed payments under an approved HAMP modification would be eligible to reapply under the new rules.
The Obama administration announced it would triple balance-reduction incentives to lenders, paying up to 63 cents for every dollar lenders take off mortgage principal. The administration also said it would offer incentives to Fannie Mae and Freddie Mac to reduce principal on loans. Previously, the government had only offered incentives to private lenders and banks.
If your mortgage is owned, insured or guaranteed by Fannie Mae, Freddie Mac, FHA, VA or USDA you may be eligible for HAMP consideration. Contact your mortgage servicer for details.
Ruben Gonzalez Jr. can be reached at (562) 507-0754 or E-mail. Prudential California Realty (dba) is an independently owned and operated broker member of BRER Affiliates Inc. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential. Equal Housing Opportunity.
Friday, July 6, 2012
Friday, June 1, 2012
Thursday, May 31, 2012
Saturday, July 16, 2011
Monday, June 16, 2008
The Skinny on Short Sales
- In a short sale, homesellers ask their lender to accept a buyer’s offer that is less than the amount needed to pay off the balance of the mortgage. Lenders who agree to a short sale also typically agree to forgive the remaining debt.
- Many call short sales a win-win for lenders and homeowners. The homeowner avoids foreclosure and banks avoid the cost of carrying the property through the lengthy foreclosure process, not to mention the hassles of selling an empty property in a market saturated with other foreclosures.
- On average, lenders lose approximately 19 percent of a mortgage’s value with a short sale but lose an average of 40 percent on mortgages that proceed to foreclosure, according to one source.
- The problem with short sales? Like other foreclosure mitigation efforts, the challenge is in determining which financial entity “owns” the loan and, thus, has the final say on a short sale offer. Banks also have been slow to ramp up internal processes needed to review and approve short sale packages. Delays and last-minute dickering often prolong or even derail transaction closings and creates frustration for potential homebuyers and their real estate agents.
To read more on short sales check out this great article:
Banks Miss an Easy Housing Fix
See you around the neighborhood!
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