Before selling your home you should take a fix-it inventory of your house to see what needs to be done to prepare the house for sale. After all, you may be okay with the worn spot in the carpet in the den, but your buyer may not.
Fix-ups don't have to be expensive. Below are a couple suggestions that you can handle when you're pressed for time and money. It’s always best to take care of these as soon as possible, before you’re ever considering the sale of your home.
* BATHROOM: This room is the one that can be rejuvenated for the least amount of money. A new medicine cabinet, for instance, with better lighting and larger storage capacity can give your bathroom a complete new look. Cost:$150 or less.
The shower is for more than just keeping the dirt off. It also provides a wake-up call, gives you relaxation and a place for pure, hot satisfaction. A new shower head can do wonders. You may find that in one house the water pressure is so high that it can literally throw you up against the wall. Or, perhaps worse yet, a water pressure so low that you have to run around in the shower to get wet. A replacement shower head complete with four settings) may cost $39 or less and takes less than 10 minutes to install.
If you're in a 25 to 30-year-old home, more than likely you have those pseudo-chrome-plated towel racks that are more fitting to a gymnasium than a home bathroom. Towel racks run as low as $10 and can help you refit the whole look.
With these few changes in the bathroom, this part of the house is ready for when you want to sell, and you'll even get a chance to enjoy the new look before you hand over the keys to new owners.
* PAINTING: Applying anew coat of paint to the interior can do wonders for the look and feel of your house. Painting is one of the most inexpensive makeovers, yet one of the most effective. A couple of cans of good paint run about $50. Additional equipment (brushes, rollers, drop-cloths, etc.) will cost between $30 and $50, and, in a day, you've given one of your rooms a complete new look.
Every homeowner ought to budget the time and money to paint the exterior on a regular basis. Painting your house every two to three years keeps the exterior in good condition and provides you with the opportunity to inspect more closely the parts of the house you normally would not get access to on a regular basis, such as the eaves and overhangs.
While it would be difficult to paint the whole house for under $200, try attacking the trim first. With a couple of cans of paint, you could probably take care of the shutters and door. A fresh coat of paint on these items does wonders for the look of the rest of your house. In addition, who says you have to paint the whole house at once, anyway?
These are just a couple of things you can to spruce up your house. You’ll be surprised at how a quick fix here and there will make your house look almost new again!
Monday, June 28, 2010
Thursday, June 24, 2010
Liberty RAN Office stats - May 2010
Below are the number of units and their price ranges. We had an incredible month! We sold 106 units, Over $18 Million! Go Liberty Office!
$0 - $100,000 21 units
$100,000 - $150,000 30 units
$150,000 - $200,000 22 units
$200,000 - $250,000 18 units
$250,000 - $300,000 4 units
$300,000 - $350,000 5 units
$350,000 - $400,000 2 units
$400,000 - $466,000 1 unit
$466,000 - $470,000 2 units
$470,000 - $570,000 1 unit
$0 - $100,000 21 units
$100,000 - $150,000 30 units
$150,000 - $200,000 22 units
$200,000 - $250,000 18 units
$250,000 - $300,000 4 units
$300,000 - $350,000 5 units
$350,000 - $400,000 2 units
$400,000 - $466,000 1 unit
$466,000 - $470,000 2 units
$470,000 - $570,000 1 unit
Thursday, June 17, 2010
FHA Appraisals vs. Conventional Appraisals
What makes FHA appraisals different than conventional?
FHA loans have become popular again so it is important to understand the increased scrutiny in the FHA appraisal process compared to convention loans.
FHA appraisals are good for three months and stay with the house regardless of the Lender or the borrower. There is no "retyping" necessary for an FHA appraisal.The appraiser must be on the FHA roster and an FHA case number must be issued BEFORE the appraisal can be scheduled.
One of the major differences between a regular inspection and an FHA inspection is that a property inspection will involve and in-depth visual inspection of all areas of the subject property, including the attic. It is always advisable for the lender to inform the homeowner of this requirement. The appraiser must inspect the attic, even if access is available only through a scuttle.
Another major difference from a conventional loan appraisal is that for an FHA appraisal, the appraiser must report any deficiencies noted during the inspection. Required FHA repairs (deficiencies) are those that impact the safety of the occupants, the security of the property or the soundness of the structure. In cases where such items are identified, it is the appraiser's responsibility to make the value opinion of the property "subject to" the repair of the item. Such appraisals that mandate a repair item will then require a compliance inspection to ensure the deficiency has been corrected.
While potential repairs do cause a delay to the transaction, they are essential in order to eliminate conditions that threaten the physical security of the property. FHA appraisals, however, are no guarantee that the property is free from defects; the appraisal only establishes the value of the property for mortgage insurance purposes. In fact, buyers are generally encouraged to engage a qualified home inspector to obtain a more detailed physical (rather than visual) property inspection.
A general list of additional checks for an FHA appraisal are:
***Identify any chipping, peeling or cracked lead-based paint - interior and exterior
***Verify there are no issues with water damage or drainage
***Insure proper ingress and egress (18") from all buildings to the lot line.
***Test for a properly working heater and, if present, air conditioner
***Test for adequate water pressure and no water leaks
***Validate every bedroom has exterior access
***Test for a working oven hood/fan (carbon monoxide danger)
***Verify a minimum 60 amp electric box
***Test for working electric outlets in every room
***Identify any exposed wiring or missing electric box cover plates
***Verify roof vents are screened and a maximum of three layers of roofing material
***Complete a head and shoulder inspection of attic and crawl space
Thanks to Platte Valley Bank for providing this useful information today!
FHA loans have become popular again so it is important to understand the increased scrutiny in the FHA appraisal process compared to convention loans.
FHA appraisals are good for three months and stay with the house regardless of the Lender or the borrower. There is no "retyping" necessary for an FHA appraisal.The appraiser must be on the FHA roster and an FHA case number must be issued BEFORE the appraisal can be scheduled.
One of the major differences between a regular inspection and an FHA inspection is that a property inspection will involve and in-depth visual inspection of all areas of the subject property, including the attic. It is always advisable for the lender to inform the homeowner of this requirement. The appraiser must inspect the attic, even if access is available only through a scuttle.
Another major difference from a conventional loan appraisal is that for an FHA appraisal, the appraiser must report any deficiencies noted during the inspection. Required FHA repairs (deficiencies) are those that impact the safety of the occupants, the security of the property or the soundness of the structure. In cases where such items are identified, it is the appraiser's responsibility to make the value opinion of the property "subject to" the repair of the item. Such appraisals that mandate a repair item will then require a compliance inspection to ensure the deficiency has been corrected.
While potential repairs do cause a delay to the transaction, they are essential in order to eliminate conditions that threaten the physical security of the property. FHA appraisals, however, are no guarantee that the property is free from defects; the appraisal only establishes the value of the property for mortgage insurance purposes. In fact, buyers are generally encouraged to engage a qualified home inspector to obtain a more detailed physical (rather than visual) property inspection.
A general list of additional checks for an FHA appraisal are:
***Identify any chipping, peeling or cracked lead-based paint - interior and exterior
***Verify there are no issues with water damage or drainage
***Insure proper ingress and egress (18") from all buildings to the lot line.
***Test for a properly working heater and, if present, air conditioner
***Test for adequate water pressure and no water leaks
***Validate every bedroom has exterior access
***Test for a working oven hood/fan (carbon monoxide danger)
***Verify a minimum 60 amp electric box
***Test for working electric outlets in every room
***Identify any exposed wiring or missing electric box cover plates
***Verify roof vents are screened and a maximum of three layers of roofing material
***Complete a head and shoulder inspection of attic and crawl space
Thanks to Platte Valley Bank for providing this useful information today!
Tuesday, June 8, 2010
Tax Credit extended for Military Families
Military service is a tough job, but it comes with privileges at tax time.
By Kimberly Lankford, Kiplinger.com
Service members get a tax-free housing allowance, can qualify for tax-free pay while serving in a combat zone and have an extended tax-filing deadline while deployed -- giving them up to 180 days after returning from a combat zone to file their tax return.
They can also stockpile extra money for retirement in tax-deferred accounts. Not only can military personnel stash up to $16,500 in the federal Thrift Savings Plan in 2010, but they can also contribute all of their tax-exempt combat-zone pay (as long as total TSP contributions for the year don't exceed $49,000). Tax-exempt pay that goes into the TSP comes out tax-free in retirement. At the same time, they can contribute up to $5,000 to an IRA ($6,000 if 50 or older), even if their entire yearly income is tax-exempt combat pay.
Homeowner breaks. And now service members serving outside the U.S. for at least 90 days between December 31, 2008, and May 1, 2010, have an extra year to qualify for the $8,000 first-time home-buyer credit or the $6,500 credit for current homeowners. They have until April 30, 2011, to sign a contract and until June 30, 2011, to close on the new house. Normally, if homeowners don't live in the new house for at least three years, they have to repay the tax credit. But there's an exception for members of the military who have to relocate because of government orders.
Military families also get a special break when they sell their homes. Most homeowners need to live in a house for at least two of the five years leading up to the sale in order to claim tax-free profits of up to $250,000 ($500,000 if married filing jointly). But because they move frequently, military families need to live in the house for only two of the preceding ten years in order to qualify if they are on qualified official extended duty, which means living at least 50 miles from home or in government quarters.
For more details, see Kiplinger's Money Guide for Military Families at Military Families. Or see IRS Publication 3, Armed Forces Tax Guide.
Reprinted with permission. All Contents © 2010 The Kiplinger Washington Editors. www.kiplinger.com
By Kimberly Lankford, Kiplinger.com
Service members get a tax-free housing allowance, can qualify for tax-free pay while serving in a combat zone and have an extended tax-filing deadline while deployed -- giving them up to 180 days after returning from a combat zone to file their tax return.
They can also stockpile extra money for retirement in tax-deferred accounts. Not only can military personnel stash up to $16,500 in the federal Thrift Savings Plan in 2010, but they can also contribute all of their tax-exempt combat-zone pay (as long as total TSP contributions for the year don't exceed $49,000). Tax-exempt pay that goes into the TSP comes out tax-free in retirement. At the same time, they can contribute up to $5,000 to an IRA ($6,000 if 50 or older), even if their entire yearly income is tax-exempt combat pay.
Homeowner breaks. And now service members serving outside the U.S. for at least 90 days between December 31, 2008, and May 1, 2010, have an extra year to qualify for the $8,000 first-time home-buyer credit or the $6,500 credit for current homeowners. They have until April 30, 2011, to sign a contract and until June 30, 2011, to close on the new house. Normally, if homeowners don't live in the new house for at least three years, they have to repay the tax credit. But there's an exception for members of the military who have to relocate because of government orders.
Military families also get a special break when they sell their homes. Most homeowners need to live in a house for at least two of the five years leading up to the sale in order to claim tax-free profits of up to $250,000 ($500,000 if married filing jointly). But because they move frequently, military families need to live in the house for only two of the preceding ten years in order to qualify if they are on qualified official extended duty, which means living at least 50 miles from home or in government quarters.
For more details, see Kiplinger's Money Guide for Military Families at Military Families. Or see IRS Publication 3, Armed Forces Tax Guide.
Reprinted with permission. All Contents © 2010 The Kiplinger Washington Editors. www.kiplinger.com
Friday, June 4, 2010
TV Interview around Parents As Teachers Program
I got the call! To be on TV advocating for our Parents As Teachers program! Here is the link to the video. It's all of 1 1/2 minutes.
http://www.fox4kc.com/videobeta/502f23f4-8a32-4ffc-b28c-ae12fe8feafe/News/Parents-as-Teachers-Programs-Face-Budget-Crunch
Thank you to Becky Gossett for allowing me the opportunity to voice my concerns and opinions!
http://www.fox4kc.com/videobeta/502f23f4-8a32-4ffc-b28c-ae12fe8feafe/News/Parents-as-Teachers-Programs-Face-Budget-Crunch
Thank you to Becky Gossett for allowing me the opportunity to voice my concerns and opinions!
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