Curb Appeal Shape Up: 5 Ways To Transform A Home's Exterior

A home's curb appeal can be improved dramatically resulting in more buyer interest. Curb appeal can be enhanced by a few decorating and landscaping touches that do not have to be expensive. These are enhancements that the homeowner can also make without any special help. The desired outcome projects that will transform a home's exterior from dull and outdated to stunning and contemporary.

Gutters
The homeowner can start with changing unsightly gutters into gutters that will elevate the elegance of the home. Old gutters that have bends and appear to be falling off and have unattractive downspouts should be replaced with gutters that look to be more durable and in good condition. Copper gutters are stunning, and they are a functional decor feature that impresses buyers. Copper gutters say that the homeowner cares about quality in the home.

Cover Some Of The Exterior Elements
If the air conditioner is not in use, then cover it with an attractive custom-made cover in a color that will make the A/C unit less noticeable. A lattice fence should be constructed to obscure the view of pool equipment. Pre-made fencing sections can be purchased and painted by the homeowner.

The Front Door
A front door that looks worn and outdated might benefit from a coat of high-quality paint. However, if the style of the door is clearly outdated, then the homeowner should consider buying one of the new and beautiful steel doors that fit with the architecture of the home. Information from Realtor.org indicates that a steel door will yield a high return on the investment. More importantly, a steel door is a wonderful curb appeal feature.

Add Shutters
A home's appearance can be dramatically improved by adding shutters that will complement the home's style. An expert in shutters is easy to find, and they can offer advice on the best shutters. The best approach is for the homeowner to show the expert a picture of the home.

Dress Up The Front Porch
If the home has a front porch, consider painting it if it looks worn and outdated. Add some wrought iron step handles, and place some flower pots on the porch where they can be seen from the street. Consider some hanging flower baskets.

The Landscaping
The grass should be cut and neatly trimmed along the cement walkways. Prune overgrown shrubs and hanging tree limbs, and plant some flowers in various colors. These steps will bring the front yard to life and give it a manicured look.

The Outside Is A Preview Of The Inside
Buyers will believe that the care that is given to home's exterior, and the yard, indicate the care that the home's interior has been given.

5 Mortgage Myths Dispelled

If the idea of buying a house both scares and excites you, that's how it should be. If you're only intimidated or only enthusiastic, you're probably going into the mortgage-buying process ill-informed.

After all, in the years before the Great Recession, homebuyers weren't intimidated at all. For quite a few years, many people purchased homes that were out of their price range and often on shaky credit, but since lenders didn't seem concerned, homeowners weren't either.

Now, the tide has turned, and prospective homeowners are understandably more leery about making what will likely be the largest purchase of their lives. But maybe they’re too leery. According to a survey of 2,017 adults released last month by Wells Fargo & Co., the country’s largest mortgage lender, many borrowers who can afford a home may be frightened off, believing that buying a house is something they simply can't do.

If you're on either end of the spectrum – squeamish about homebuying or ecstatic with no worries whatsoever – here are some misconceptions about mortgages that may bring you to the middle.

Your credit has to be perfect or near-perfect. Two-thirds of the Wells Fargo survey respondents believed you have to have a very good credit score to buy a house. While there's no doubt that a high credit score will help you get a better loan, it isn't a deal-breaker if your score is middling. If you have some credit blemishes and financial scrape-ups but for the most part pay your bills and make steady income, you probably don't have much to worry about, experts say.

"While credit is scrutinized, some loan types will allow credit scores as low as 620," says Gaye Rowland, senior vice president of SharePlus Bank, headquartered in Plano, Texas. "Other compensating factors such as larger down payments or low debt-to-income ratios can offset some negative credit information. Every situation is analyzed individually."

You must have a down payment worth 20 percent of the purchase price. This, too, is a myth. More than 40 percent of Wells Fargo respondents believed the only way to buy a house was to give a lender at least 20 percent of the purchase price of a house.

Again, it helps to have a 20 percent down payment, particularly if you want to avoid paying monthly private mortgage insurance. But many banks and mortgage companies – especially now that the recession is several years in the rearview mirror – offer loans that don't require a down payment anywhere close to 20 percent.

"We offer many programs that either have 100 percent financing or a 3.5 percent down payment," says Alyssa Schwabe, a spokeswoman for GSF Mortgage, headquartered in Brookfield, Wisconsin.

A house is a great investment. It can be a good long-term investment, but nothing in real estate is guaranteed. Particularly if you plan to live in the home for several years, and you can’t afford to lose a lot of money, you need to think of your house as a house – not a financial tool designed to pad your investments or retirement.

"People tend to purchase their homes with a little bit too much of an investment mentality," says Michael Goodman, a certified public accountant and financial planner at Wealthstream Advisors in New York City. "I'm not saying it isn't part of your overall net worth, but the home purchase really should be for somewhere you're going to live."

He adds that some wealthy homeowners additionally get too caught up in the idea that owning a house is a way to reduce taxes. "People will tell me that they need a tax deduction or a better tax deduction, and so they're going to buy a bigger home. I think that's the stupidest thing I've heard," Goodman says.

Courtesy of: U.S. News

How To Boost A Home's Presentation To Attract Homebuyers

Presentation is one of the three most important aspects determining how quickly a home will sell.

Much like the organic produce piled neatly in handy bins at the grocery store, and the way the makeup is displayed on the mirrored counters at the department store, it is important to be thoughtful and creative regarding the house's presentation during an open house.

Here are three examples of choices to consider to improve the presentation of a house before an open house:

Make sure you are presenting potential buyers with a clean house. The grocery store doesn’t let streaks of ooze and seeds trail down from rotten tomatoes in display cases. The department store doesn’t allow broken chunks of lipstick to linger on the mirrored counters. No way!

They are both cleaned daily if not more frequently.

This must be a similar approach an agent must take before hosting an open house.  Clean the counters, carpets, cabinets, closets, doors, drawers, mirrors, windows, drapes, blinds, and everything else.

It is also important to take note of the other adjustments you may need the homeowner to make in addition to cleaning. As an agent, you need to instruct the homeowner if he or she needs to repair or replace items, remove wall paper, repaint, and/or re-carpet. Noticeable stains, scratches, chips, tears, and gaping holes in the dry wall are mental triggers to a buyer that you’re presenting damaged goods.

Today’s buyers expect perfection, and when the presentation is something less than that, they begin to deduct from their opinion of your house’s value and create resistance to even making an offer.

Stage the home properly. De-clutter and de-personalize are the first steps in this approach. Then you have to arrange and accent. It is critical for an agent to stage the home that is on the market properly and strategically. 

And lastly, as an agent, it is your job to capture the features of the home through photographs. 

A professional photographer who specializes in shooting homes for sale is essential to the presentation of the house.

These pros have wide angle lenses, special flash attachments and those lighting umbrellas.

They also have the know how to shoot the bathrooms without the glare from the mirrors and how to diffuse the blazing sun coming into your kitchen window.

And consider a drone. A video of your sparkling clean, strategically staged house will boost the presentation to the pool of buyers to the next level.

Courtesy of: OC Register

The Differences between FHA and Conventional Mortgages

The mortgage market can be confusing. Many people find that the differences between FHA and conventional mortgages add to the confusion. Home buyers often do not know which mortgage is best for their situation, but there is always one mortgage that is the best mortgage. Mark McDonell from Eagle Home Mortgage can answer your questions about the differences between FHA and conventional mortgages and will help you find the best mortgage. Listed below are the important differences between FHA and conventional mortgages.

THE ADVANTAGES OF FHA LOANS:

-Down payments often as low as 3 percent

-Gift money can be used for the down payment and the closing costs

-Borrowers often find it easier to qualify for an FHA loan

-No cash reserve requirements such as 3 months of mortgage payments in savings

-No prepayment penalty

-FHA lending guidelines are not as strict as some conventional loans

-FHA loans can be transferred to the new owner when you sell your home

-FHA has an Energy Efficient Mortgage Program that allows the borrower to finance energy-efficient features as part of the home purchase price

-Fixed rate mortgages are available for 15 and 30 year loans

-Adjustable rate mortgages are available

THE ADVANTAGES OF A CONVENTIONAL LOAN:

-Mortgage insurance is not required if the mortgage is 80 percent of the loan to value (LTV) or lower

-Some loans with down payments as low as 5 percent are available

-Interest rates are generally lower

-Existing mortgage insurance can be cancelled when LTV reaches 80 percent

-Available on all types of residential property

-Buyers can have more than one conventional loan

-No limit on the loan amount

-More lenders, including banks, to choose from

-More loan term options are available

-The property standards are not as strict

The differences between FHA and conventional mortgages can be summarized as the differences between the needs of the borrowers. Borrowers who are credit challenged will find an FHA mortgage easier to obtain. While the down payment can be less and gift money can be used, FHA mortgages carry a financial penalty because mortgage insurance premiums are required. This can be the biggest disadvantage of the FHA loan since this premium can be as high as 1.5 percent of the loan at closing and 0.5 percent of the mortgage amount to be paid annually for the entire life of the loan. Many borrowers find that the differences between FHA and conventional loans come down to the qualifications of the borrower and their resources.