Preparing Your Home For Sale – Improvements

As a real estate flipper, I rehab properties to the point where a buyer is willing to pay more for the home than I did. I know that certain improvements will help sell the home, and others eat away at my bottom line. My goal is to maximize profit, so each dollar I spend has to have a return on investment.

As a realtor, I can’t tell you the number of times buyers have told me that they would consider a home that needed a little cosmetic work, but end up buying something move-in ready…even if it means they have to pay more for it. One of my clients told me that they only wanted a townhome, but wrote an offer for a smaller, more expensive, condo with amazing updates.

There are a lot of homes on the market right now and buyers can have their pick. Homes that need updates sell eventually, but if buyers have to do any work themselves, they are going to deduct the cost of the update from their offer price. So sellers, listen up! In order to get top-dollar and sell your home fast, you need to make your home stand out in a good way. I’m about to share with you my investor secrets of relatively small improvements that make a big impact.

Housing and Economic Recovery Act of 2008

Today, President Bush signed H.R. 3221, the “Housing and Economic Recovery Act of 2008″ into law. The bill was passed by the House of Representatives in a 272-152 vote and approved by the Senate in a 72-13 vote.According to the Wall Street Journal, lawmakers have described the bill as the “most important piece of housing legislation in a generation.” Intended to stabilize the housing market, the bill includes long-sought reforms for the Federal Housing Administration, a tax credit for homebuyers, nearly $4 billion in grants to cities and states to buy and rehabilitate foreclosed homes and a Treasury Department proposal to help restore confidence in Fannie Mae and Freddie Mac.

Lawmakers are already pressing regulators and lenders to prepare now so the program can begin without delay when it goes into effect October 1.

Click here to learn more about the Housing and Economic Recovery Act of 2008.

Chat LIVE Today @ 3 pm

Every Wednesday from 3 – 6 pm you can chat with me through my blog site.  Just click on the “Chat with Dawn” box located on the right and be connected instantly.  I’m looking forward to hearing from you!

What a week!

I’ve had quite a busy week in real estate!  Two homes went under contract (and I’m expecting an offer today on another one of my listings), I had a listing presentation, a buyer consultation, a home inspection, and showed a few homes, too! 

When I started this blog, my hope was to have a new entry every day.  My schedule kind of took over, but I’ve been working on a piece called, Preparing Your Home For Sale, with a list of improvements sellers can make to appeal to buyers.  I am almost ready to publish it, I just need to tweak a few things and add a couple of pictures.  Look for it by tomorrow!

Weichert Relocation Wins Prestigious Leadership Award

RISMEDIA, July 24, 2008-BlessingWhite, one of the world’s leading management consulting and leadership development training companies, recently announced the winners of its 2008 Leadership Award.  This prestigious award is given each year to the three companies among BlessingWhite’s vast global client base that have achieved the most significant results in driving breakthrough performance and a purposeful culture.

Government Steps in to Aid Fannie Mae and Freddie Mac

     In recent weeks, there has been much speculation about the stability of mortgage giants Fannie Mae and Freddie Mac.  Sliding stocks have demonstrated the growing worries that the companies capital will not be enough to withstand losses stemming from rising loan defaults.

     Last Sunday, the White House and Federal Reserve made moves to ensure the survival of both Fannie Mae and Freddie Mac in the midst of market uncertainty.

     Fannie and Freddie, in combination, finance about 50% of  homes in the U.S., equaling $5.2 trillion in owned or guaranteed mortgages.  Though it’s commonly assumed that the two are government agencies, in actuality they are government sponsored entities chartered by congress but owned by shareholders.          

     The details of the government’s plan are still being worked out, but the basics involve the Federal Reserve’s agreement to lend money to the two companies at a discounted rate, allowing them to borrow at the same rate it charges banks. 

Wednesday’s Poll