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

Owner of O.C.'s Ritz and Montage says its luxury hotels are up for sale

Strategic Hotels & Resorts Inc. – owner of seven California luxury hotels including two in Orange County – is up for sale.

Chicago-based Strategic – which owns the 393-room Ritz-Carlton Laguna Niguel and the 250-room Montage Laguna Beach – followed Wall Street tradition by announcing the move Monday with the otherwise oddly worded phrase: “exploring possible strategic alternatives for the company, including the potential sale of the company.”

CEO Rip Gellein said in a statement, “We are confident in our strategic plan and the value we have created for our shareholders. At the same time, we are always open to ways in which we can further maximize shareholder value.”

Of course, there was a nudge for the hotel owner’s corporate rethinking.

Technology legend Bill Gates’ investment firm – Cascade Investment Inc. – recently built a 9.8 percent stake in Strategic’s shares, then said it was interested in talking to the hotel owner about possible business combinations. Strategic's hotel portfolio includes 18 high-end hotels nationwide including San Diego’s iconic Hotel del Coronado and the Essex House overlooking Manhattan’s Central Park.

Strategic has been a longtime player in Orange County’s luxury hotel scene.

Its ownership of the Ritz dates to 1997, when a predecessor company bought it Ritz for $225 million.

In 2006, at the height of the previous hotel-buying boom, the current Strategic business – a publicly traded real estate investment trust – bought the the Ritz for $330 million. That was roughly $840,000 per room, at the time the second-highest hotel sale valuation in California.

In January, Strategic Hotels acquired the Montage for $360 million, or $1.4 million per room – a price that shattered state hotel pricing records.

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. 

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5 Tips for Finding the Best Mortgage

The smart home buyer can find more mortgage sources than they can homes. However, searching for the best mortgage available can be a challenge for the buyers if they attempt to embark on this process without the help of a mortgage professional. Real estate agents refer buyers to mortgage lenders they like, but these lenders may not have the best mortgage for the buyers. Banks will only tell the buyers about the mortgages they offer.

Here are 5 tips for finding the best deal on your mortgage:

1. A mortgage broker is the best source for finding the best deal on a mortgage. Mortgage brokers know about all of the mortgages that are available. They also know which mortgages would be best for you. This will help you obtain a mortgage without having to apply at several mortgage sources. The broker can find a mortgage that will be best for your situation. This is the top tip among the 5 tips for finding the best deal on your mortgage.

2. Ask the mortgage broker to obtain your credit reports. The credit reports and scores that mortgage companies use are not the same as the consumer reports that are available from the credit bureaus. However, it would be helpful to review your consumer credit reports from the three reporting agencies before meeting with the mortgage broker, because this will help you be prepared to discuss any problems that appear on your reports. This tip is important among the 5 tips for finding the best deal on your mortgage.

3. Be prepared to give the broker all of the details about your financial situation including your employment history. This will help the broker determine which mortgage would be the best one for you. Be very open about any negative credit experiences or short-term job histories. 

4. Compare the costs involved between different mortgages, because the costs can very. Always ask how many, if any, "points" will be required at closing. One "point" is equal to one percent of the mortgage amount. "Points" are usually charged when the interest doesn't cover the return that the lender wants. 

5. Don't look at just the interest rates, Compare the terms such as the length of the mortgage in years and whether the interest rate is fixed or variable. A variable rate means the rate can increase at various times and this will raise the monthly payment. Interest rates which are tied to the London Interbank Offered Rate (LIBOR) will increase when the LIBOR increases. 

Affordable and Professional Services of Eagle Home Mortgage

Mark McDonnel, one of the leading mortgage brokers in the country, takes the hard work out of discovering the finest home loan deal. At Eagle Home Mortgage, he evaluates hundreds of home loans from building societies and banks to find the one that best suits your requirements and your budget.

In addition, Mark McDonnel returns a minimum of 50% of the continuing monthly commission obtained from the lender, as supplementary payments to your home loan, potentially putting you aside thousands of dollars. Eagle Home Mortgage is one of the leading businesses in Irvine, California and it offers an obligation-free service to their customers. 

Though there are several reasons that Eagle Home Mortgage happens to be the primary option to home loan aspirants in Irvine, some of the valid reasons include:

1. Eagle Home Mortgage will assist you pay off your mortgage loan sooner with immense rates and ongoing commission discounts.

2. Eagle Home Mortgage professionals handle the paperwork and negotiate with the loan officers in banks and building societies on your behalf.

3. The business offers an obligation-free service.

4. It is available to the members of Eagle Home Mortgage, their friends and family.

5. They have qualified mortgage brokers.

6. Eagle Home Mortgage has access to a number of home loan products from its lender panel. 

7. Though rate is vital, Mark McDonnel also considers other features of the mortgage loan in Irvine, CA.

8. Eagle Home Mortgage offers a trustworthy service from an organization you know and trust in Irvine, CA.

Mark McDonnel is capable of getting an approval of finance within 14 days and assisting in gaining refinanced loans within two to four weeks from the date of application. All mortgage brokers at Eagle Home Mortgage are educated to appreciate the differences between lenders, meaning that you will save considerable amounts of time and money. The experience and industry expertise of Eagle Home Mortgage can assist you access the finest rates in the real estate market and make applying for a home loan easy.

The home loan professionals always provide their customers with a personal and professional approach, making themselves constantly available and easy to communicate with. The professionals of this Irvine-based mortgage company provide their customers with strategies that allow their customers to carry out future plans, such as home renovations, and allow them to set aside money for the future.

For more information regarding this article, visit the website or Facebook link below!

https://www.eaglehomemortgage.com/markmcdonell

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Mortgages- A Guide For First Time Buyers in Irvine

For a first time buyer looking for a mortgage loan in Irvine, the landscape is usually difficult and unforgiving. Sure, you have looked around and decided that you in fact need a permanent home. You have done your math but you really don’t know where to start looking for lenders or what conditions you need to meet before you even qualify. Most new entrants make mistakes that cost them time and money, and the first thing you need to learn is how to avoid making such mistakes. To help you out, here is a guide on how to navigate the landscape without having to worry about disappointments in the future.

1.    Understand that buying a home has a lot more to it than just mortgage payments

Your figures tell you that you are capable of making payments without having to strain. While that is a good place to start, it barely scratches the surface. You are going to need a lot more than that to get by. For example, you might find that insurance costs are on a steady rise in the area you live. Property taxes also have a habit of going up every single year, which leaves you no wiggle room, especially if your budget is restrictive.

2.    First find a loan, then find a house

As a first time homebuyer looking for a mortgage loan in Irvine, you might get too carried away and decide to check some houses out before landing the loan you need. This is a very flawed way of doing things because of several reasons. Here are some questions that arise if you haven’t landed a loan. What price range are you looking for if you have not been pre-qualified? How do you know that you qualify for a loan in the first place? Sure, it feels better looking at the house of your dreams than it does sitting across the table from a lender, but getting your loan pre-approved is the right way to go about things. Doing these things in the correct order puts you firmly in the driving seat.

3.    Get a professional to help you

The real estate industry is very complicated. There is a sea of statistics to process and many technical adjustments to make. What passes off as the procedure for getting a mortgage in your neighborhood is not etched in stone, so it may not always be the same. Doctors, lawyers, real estate agents are professionals in this field, and it would help to secure the services of those professionals you believe you need.

If you are a first time buyer looking for mortgage loan, you need to think through your options. Keep in mind that this is going to be the biggest investment of your life.

For more information regarding this mortgage loans or this article, visit the website and Facebook link below!

https://www.eaglehomemortgage.com/markmcdonell

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