Short Sale is an Alternative to Foreclosure

The housing market is starting to rebound in 2012, however there are still many distressed properties in our local housing inventory.  Many of those distressed properties are foreclosures, and in our current economy, there are still lots of homeowners who are  in danger of losing their home to foreclosure.  A short sale is an alternative for homeowners to avoid foreclosure in Winston-Salem, Clemmons, Lewisville, NC as well as other areas around the country.

What is a Short Sale?

There are basically three components to a short sale on a home.

1. A short sale happens in real estate when a homeowner has had a financial hardship.
2. The homeowner can’t make their payments on time and are behind on their mortgage with late payments.
3. The bank who holds the mortgage is willing to take less on the property than what is owed.

A short sale is a much better option than letting your home go into foreclosure as foreclosures are like a “credit atomic bomb”.  A foreclosure can take several years to rebuild your credit where with a short sale, you might be able to buy another home in as little as two years.  A short sale allows a seller to sell your home below market value for less than you owe on your mortgage.

How Does a Short Sale Work?

When you sell your home by “short sale”, most banks require you to list your home with a REALTOR®.  You’re probably thinking, “but I can’t afford to make my house payment, much less pay a REALTOR’s® commission.”  There’s no need to worry, because when you do a short sale, your lender will take care of the commission at closing.

You might also think that you need to do some repairs before you list your home.  Again, don’t worry about any of that.  Sometimes, your short sale has a better chance of approval if the condition is not as good.  Your agent should even take pictures of those items in need of repair to show the bank.

If you are behind on your house payments, and don’t want to keep your home, then don’t wait around.  Hire a real estate professional right away to help you through the short sale process.

Short Sale Package

After you have decided to short sale your house, your real estate agent will need to submit the short sale package to your mortgage lender.  Each bank may require a few different forms, but here are the basic items you will need on most every short sale.  These items should be sent in right away and as complete as possible.  Your REALTOR® will help walk you through the short sale, so don’t get overwhelmed.

• Third Party Borrower Authorization
• Hardship Letter
• Short Sale Listing Agreement
• Personal Financial Statement
• Bank Statements
• Pay Stubs
• Tax Returns

Third Party Borrower Authorization

Third Party Borrower Authorization is a letter given to the bank that allows them to speak with your real estate agent about your mortgage.

Hardship Letter

You’ve told your mortgage lender that you can’t afford to pay your mortgage.  The hardship letter gives you an opportunity to explain what has happened.  Have you lost your job?  Do you have an illness?  Are you going through a divorce?  There are many different reasons that homeowners go through financial hardship, so be honest.

Short Sale Listing Agreement

The short sale listing agreement is the agreement between you and your REALTOR® to list your home for sale on the local real estate market.  Once it is listed, your agent will add it to the MLS (Multiple Listing Service), so other REALTORS® know it’s for sale.  The MLS will give your home exposure to more buyers who are looking to buy a home in your area.  The listing agreement is something you would do whether you were doing a short sale on your house or not, but the bank wants a copy of the agreement.

Personal Financial Statement, Bank Statements, Pay Stubs, and Tax Returns

Your lender will require you to send them personal information regarding your income and monthly expenses.  The bank may take as much as a $100k loss, so they will ask you to verify your financial hardship through several documents including a personal financial statement, bank statements, pay stubs and tax returns.

You can give the bank your personal financial statement on a form they provide that shows your income, assets, and monthly expenses to verify you can’t afford to pay your mortgage.  They will also ask for at least two months statements of any bank account you have, two pay stubs, and the last two years of personal tax returns (and business returns if you are self-employed).

Offer to Purchase Your Short Sale Home

Once your REALTOR® receives an Offer to Purchase, you will need to sign it, as if you have accepted it,  just like any other offer.  Your agent will submit  it to the bank for final approval along with the mortgage pre-qualification letter from the buyer.  After your lender receives the offer, they will start their review process of the short sale.

During the review process the bank will order a BPO (broker price opinion) and/or an appraisal to get an estimate of value of your home.  Once that value is received, they will generally approve 80% of the value for a short sale.  This is just a general rule of thumb and will vary by bank and by each individual short sale.

Steps to a Short Sale

In our current 2012 housing market, banks are realizing it makes more sense to move forward with a short sale as opposed to foreclosing on a home.  Their costs are lower, and the time it takes from start to finish is shorter.    So, in summary, here are the steps to doing a short sale on your home.

1. List your home with a REALTOR® who is experienced with short sales.
2. Your agent will submit your Short Sale Package to the bank.
3. Set the list price competitively, but not too low.
4. Make price adjustments recommended by your real estate agent if you aren’t getting showings or if you haven’t gotten an offer after three to four weeks.
5. Allow showings at all times regardless of the condition.
6. Stay in contact with your mortgage lender.  Answer their phone calls, return documents in a timely manner.
7. Get an Offer to Purchase Contract and submit it to the bank.
8. Wait on the short sale approval (this could be as short as a few weeks or could take as long 6 months).
9. Go to closing/escrow (this is where the home changes hand to the buyer).

Winston-Salem, Clemmons, Lewisville, NC Short Sale Help

If you are facing foreclosure and need to do a short sale on your home in the Winston-Salem, Clemmons, Lewisville, NC area, I am here to help you.  I have successfully completed a number of short sales, so I know what the banks are looking for.  I have also taken the Certified Default Advocacy Training (CDAT) to gain more knowledge in helping sellers through short sales.  I am empathetic and ready to help anyone who wants a short sale specialist with heart and professionalism.   Don’t hesitate to contact me at 336.287.4423 or fill out the form below.

You are so excited that you can hardly stand it! Your real estate closing is happening soon,  and then you’ll be moving into your brand new home.  You’ll be starting a new chapter in your life, and begin making new memories with your family.  But before you close on your new home,  you first need to do the final walk through inspection.

What is the Final Walk Through Inspection?

There are two main purposes of the final walk-through, which allows homebuyers to inspect a property before closing on the sale of a home.  First, you want to make sure all of the repairs in the sales contract that was agreed upon by the seller has been taken care of.  Second, you can also confirm that the condition of the property has not deteriorated since the time of contract.

Because the final walk-through takes place only a few days or sometimes a few hours before closing, it’s easy for excited homebuyers to skip taking another careful look at the property.  However, being thorough during these final steps can save buyers from unexpected headaches and expenses.  During the process of moving out or completing
necessary repairs prior to moving, it is possible that damage has occurred or that appliances are no longer working properly.  All appliances should be functioning.

The Final Walk Through Inspection Checklist

Having a checklist and a copy of your sales agreement while doing the final walk-through will help keep you on track.  Be sure to discuss any issues you discover with your REALTOR® before you go to closing.

Here is a Final Walk Through Inspection Checklist for you to use when the time comes should aide you in assuring that your final walk-through is as productive as possible.   Final Walk Through Inspection Checklist.pdf

You can check out About.com’s Final Walk Through article as well.

Final Walk Through in Winston-Salem, Clemmons or Lewisville, NC?

If you would like to do a Final Walk Through in Winston-Salem, Clemmons or Lewisville, NC, you need to find your dream home first!  Search homes for sale in those Forsyth County areas at the links below.  (Hint:  If you don’t see what you’re looking for, you can use “advanced search” to find exactly what you want in a new home – for example:  search by school, year built, size, etc. – or call me 336.287.4423 and I’ll be glad to help you!)

Winston-Salem Homes for Sale

Clemmons, NC Homes for Sale

Lewisville, NC Homes for Sale

Real Estate analysts predict an increase of 4% per year for U.S. Home Prices over the next 5 years

Home Prices are set to rebound

It’s not a secret that the housing market has been hit hard over the last few years. Home prices have fallen nationwide over 30% since 2006. That’s what you call “tanking” no matter what type of market. Winston-Salem home prices have fallen as well, but not as bad as many other areas of the country. We are definitely seeing improvement here in the local housing market, and now it looks like the real estate market is getting good news in many different cities.

USA Today is reporting that market watcher, Fiserv, is forecasting an increase for home prices across the country.  Affordability and shrinking inventories are signs of an improving housing market.  Many areas of the country that were hit the hardest, like Phoenix and Miami are seeing list prices up more than 20%, says and inventories are down more than 40%.

Where are Winston-Salem, Clemmons, Lewisville, NC (Forsyth County) Home Prices Headed?

Typically, real estate markets that were hit the worst will recover first.  That’s another good sign for our local Winston-Salem housing market, as we should see continued growth over the next few years.

U.S. Housing Market Forecasted to Rise 4% Annually

All of this means if you’ve been considering selling your home, then it’s time to get serious and list your home for sale.  I can help you with that with our Digital Marketing Strategy for Winston-Salem, Clemmons and Lewisville home sellers.  Don’t hesitate to contact me at 336.287.4423 to discuss this strategy today.

If you are in the market to buy a Winston-Salem, Clemmons, or Lewisville, NC home, then it’s a good time to move forward.  Interest rates are still low, but prices and rates won’t stay low forever.  Now is the time.  We can help you make sure you get the best deal possible.  Sign up for our FREE Homes by Email VIP Buyer service to help you find your dream home before rates and prices rise.  Or call/text me today at 336.287.4423.

What You Need to Know About Mold in Your House

There’s been more talk about the seriousness of mold in homes the last few years including alerts from medical professionals and a large number of lawsuits against landlords, employers, and insurers.   The medical and legal communities are taking mold contamination in homes seriously.

Why is Mold in Your House Dangerous?

Molds play a part in nature by breaking down dead organic matter such as fallen leaves and dead trees, but when it grows indoors, problems can develop.  Molds are normally not an issue indoors, but when mold spores land on a wet or damp spot, they can potentially grow and become dangerous.  For mold to grow in homes there must be favorable temperatures, moisture, oxygen, and nutrients.  Mold can get nutrients from dead wood, paper, cloth, and from some paint and adhesives.

Mold, Fungi and Mildew are causative agents that can cause serious health and respiratory problems.  They are classified as allergy inducing growths with symptoms that can lead to grave health problems.  Most people who are considered healthy are not greatly affected by mold.  However, those with allergies and asthma can experience eye irritation, runny nose, chronic cough, congestion, migraine headaches, breathing difficulty, frequent sneezing, rashes,  and tiredness.  These symptoms can occur when mold spores are inhaled excessively or even in small amounts.  If someone has an immune system problem or lung disease, they can be at an increased risk for infections from molds.

Mold Inspections and Removal

If you are buying or selling a home, and you think you may have a mold issue, you probably should perform a mold inspection.  If mold is found in a house, it can potentially kill a real estate deal.  It’s virtually impossible to get rid of all of the mold and mold spores in your home, but problematic mold areas should be dealt with immediately or your problem will grow…literally!  If the moldy area is less than about 10 square feet (less than roughly a 3 ft. by 3 ft. patch), in most cases, you can handle the job yourself.

If you have a more serious mold problem, a mold inspector can perform ”tests” to the air or surface to find out what kind of mold exists and/or if the mold found is able to grow in the area tested.  There are approximately 400,000 types of mold, and less than 100,000 have been named.  Approximately 1,000 types of mold are found indoors acoss America.  Less than 80 molds are suspected of causing some form of illness, and only a few of them are considered toxic.  Click the following link to learn more about the types of mold.

If a mold problem is found, it can be as simple as cleaning with soap and water (bleach is not recommended – it kills mold, but doesn’t necessarily remove it.  And dead mold spores can still cause health issues).   However, if you have a larger mold problem, you should probably hire a contractor.  If you choose to hire a contractor (or other professional service provider) to do the cleanup, make sure the contractor has experience cleaning up mold.  Check references and ask the contractor to follow the recommendations in EPA’s Mold Remediation in Schools and Commercial Buildings.

Where to get your questions answered about mold

Here are a few other good resources I have found for you to find out more about the dangers of mold in your home.

EPA’s Brief Guide to Mold, Moisture, and Your Home

Frequently Asked Questions About Mold in Homes

Health Effects of Mold

For additional information about the health effects of mold exposure and information on the safe removal of mold, please call your County Health Department’s Environmental Health Office.  The number for the Forsyth County Health Department phone number in Winston-Salem, NC is (336) 703-3100 .  Or call the U.S. Environmental Protection Agency’s Indoor Air Quality Information Clearinghouse at 1-800-438-4318.

Dr. Elizabeth Vaughan discusses Toxic Black Mold on Fox 8 WGHP

Buying versus Renting a Home

I sometimes get asked the question, “should I buy or rent a home?”  While the answer depends on your financial situation, there is also a real estate formula that can be used to help determine if it’s better to buy or rent your next house.  It is called the rental ratio formula.  The formula is below.

Buy Rent Ratio =  Purchase Price of Home ÷ Total Annual Rent (rent payments x 12)

According to an article by CNN Money, Where to Rent vs. Buy, any number below 15 suggests that it is better to buy a home.  Anything over 15 says it may be better to rent a house in that particular area.

The Winston-Salem Housing Market

The Winston-Salem market average rental ratio is less than 15, so it makes sense in most cases to buy a home here if you can afford it.  Low mortgage rates, and lower prices in the housing market doesn’t hurt as well.

The next time you are wondering if it is better to buy or rent a home, try this formula to help you out.   The rent ratio will give you a rough estimate of which makes better sense.  You should really consider many other factors before entering into a home buying decision, including personal income, property taxes and whether home values are likely to rise or not.  Still, it is a good starting point for those who have been asking the age old question, “should I buy or rent a home?”.

Buying a Home in Winston-Salem, Clemmons or Lewisville, NC?

When you are ready to buy a home in the Winston-Salem, Clemmons, and Lewisville areas, don’t hesitate to contact me by phone/text/email.   I promise to always keep you and your best interests first.    I can be reached at 336.287.4423.  You can also sign up for our FREE VIP Buyer Account and receive all of the freshest new home leads by email at the following link.  Sign up to receive Home Listings by Email.  It really will help speed up your home search.  I look forward to helping you!

Do You Really Need a Radon Test When Buying a New Home?

I had a client ask me recently if I thought she should get a radon test for the brand new home she was buying. I replied with a quick “yes!”.  There is plenty of scientific detail on radon gas, but to keep it simple, here’s why I believe every home purchase should have a radon test…

1. The Surgeon General has warned that radon is the second leading cause of lung cancer in the United States.
2. Radon gas is invisible, tasteless and odorless, so unless you perform a test, you won’t know if there is a problem or not.
3. Radon levels can vary from house to house, so just because your neighbors don’t have a problem, doesn’t mean you don’t.
4. Elevated radon levels can be found in homes all across the United States, so no matter what area you live in, you should get your new home tested.
5. One of the downsides of newer “energy efficient” homes is the air tightness may prevent proper air flow to eliminate radon gas.

Radon Gas Informational Resources

I think these few facts mentioned previously warrant the importance of having a radon test done.  However, if you are the engineering type, or just curious, there is plenty of good info online to learn more about radon gas.  Check out the links below to learn more about the dangers of radon gas in your new home.

The EPA’s Home Buyer and Seller’s Guide to Radon Gas

Why Should Home Radon Testing Be Done?

Facts about Radon and Radon Testing

Radon and Real Estate

What is Radon Mitigation?

Just because you found the dream home you want to buy and it has elevated radon gas levels, doesn’t mean you can’t buy the home.  There are ways to mitigate the radon gas to make your home safe and protect your family from the dangers of radon gas. You can eliminate radon levels from your home by doing something as simple as opening a window and turning on a fan. But, in most cases you will want something a little more thorough.

Radon Mitigation Systems typically run between $700-$2000 depending on what type of home you have, and cost about $100 per year to run.  The last radon system I saw installed in Winston-Salem was $1500 on a 1350′ brick ranch home with a full unfinished basement.  These systems consistently remove radon levels to protect your family and keep them safe. The video below discusses radon mitigation even more.

I hope you will see the importance of having your new home tested for radon gas. After all, the cost is usually $50-$150.  Performing a radon gas test will eliminate any safety concerns and give you peace of mind.  And regardless of the cost, that is priceless!

Don’t Let Bad Credit Keep You From Buying a Home in Winston-Salem

Buying a home is a big step and requires the utmost financial responsibility.  Many potential Winston-Salem home buyers would like to be able to buy a new house, however their bad credit won’t allow them to do so.   Let’s look at what else it can do, and then we’ll look at how to fix bad credit.

First, the bad…

10 Side Effects of Bad Credit 

1. High rates of interest on your credit cards and mortgage loans

Creditors and mortgage lenders see bad credit candidates with low credit scores as riskier than their better credit counterparts. They make you pay for this risk by giving you a higher rate of interest. Over time you’ll finish up paying more in interest than you would in the event you have better credit.

2. Credit and loan applications may not be approved

Because creditors and mortgage lenders think you’re a risk, they might not lend to you at all.  You may find that your applications are being denied because of a bad credit history.

3. Difficulty getting approved for an apartment

Who knew that landlords checked credit before allowing you to sign a lease? It’s true.  Having bad credit can leave you nearly homeless.

4. Security deposits on utilities

Utility companies (electricity, phone, cable, etc) check your credit as part of the application system.   In the event you have a bad credit history, you may have to pay a security deposit to establish service in your name, even if you’ve always paid your utility bills on time.

5. You cannot sign up for a standard cell phone contract

Yep, cell phone companies check your credit . They contend that they’re extending a month of service to you, so they require to know how reliable your payments will be.  If your credit is bad, you may have to buy a prepaid cell phone or go without one at all.

6. You might get denied for employment

Some jobs, especially those in the finance and insurance industry, need you to have an all but flawless credit history. You can actually be turned down for a job because of negative items on your credit file, high debt amounts, bankruptcy, foreclosure or outstanding bills.

7. Higher insurance premiums

Insurance firms check credit . They say that lower credit scores are linked to higher claims filed. Because of this theory, they check your credit and charge a higher premium to those with lower credit scores, regardless of the number of claims you’ve actually filed.

8. Calls from debt collectors

In case you have overdue bills, chances are debt collectors are calling you for them. It usually comes with the territory when you have bad credit.

9. Difficulty beginning your own business

Lots of new businesses need banks loans to help fund their startup. A bad credit history and low credit score can limit the amount you’re able to borrow to start a new business, even in the event you have the greatest idea & the information to show it.

10. Difficulty purchasing an automobile

Banks check your credit before allowing you to buy an automobile.  With bad credit you might get denied or you might get approved with a high rate of interest.  Most of those “no credit check”, “buy here pay here” automobile lots charge high rates of interest that make it difficult to make your car payments every month.

So, What Can You Do to Improve Your Credit in Winston-Salem?

It’s not too late for you to improve your credit score, so don’t give up the thought of having good credit.   There are many different credit repair companies, and many that I’ve seen have been a little shady.  Some of them require you to pay as much as $500 up front in hopes of improving your credit score.

We have partnered with Smart Credit and best selling author, Jean Chatzky, to help potential home buyers and other consumers in the Winston-Salem Piedmont Triad area repair their bad credit.  There is a FREE 30 day trial, and many consumers can raise their credit score by 100 points or more within just a few months.  Most of the time, that is enough to get pre-qualified for a mortgage loan.  Another great thing about this program is that there is no large up front fee.   And it’s only $19.95 per month with no contract after your free trial, so it’s very affordable for anyone.

So, if you’ve been looking for credit repair help, you’ve come to the right place.  Click the image below and sign up for your free trial.  Once we get your score up, you’ll be able to realize your dream of owning a home and stop throwing your money away on rent.

Today is the 132nd Annual “Run for the Roses”

The first Kentucky Derby was run in 1875 and won by thoroughbred Aristides.  It is the first race of the Triple Crown and run on the first Saturday in May at Churchill Downs in Louisville, Kentucky.  The track is one and a quarter miles (2 km) and run by three year old thoroughbreds.

This year, there are twenty-one horses entered into the race without a clear cut favorite.  The best odds are with Bodemeister (4:1) and Gemologist (6:1).  The race starts at 6:24 pm this evening.

Kentucky Derby Traditions

The Kentucky Derby is now known as “the fastest two minutes in sports” and is steeped in tradition.    From lady’s hats, to mint juleps, to roses, to singing My Old Kentucky Home, it’s a great excuse to throw a party.   So have fun today while you’re watching the Kentucky Derby.  Cheers!

A few improvements can make your Winston-Salem home more marketable

We’ve come upon the Spring Selling Season, which is normally the peak season for selling your home.  Many home owners have been waiting to list their house for sale until they started seeing the market turn upwards.  Based on recent home sales in Forsyth County, we could be seeing that turn around.

If you’re considering selling your home, preparing your home for listing is one of the first steps towards completing a successful sales transaction.  There is still lots of inventory and most buyers are either looking for a great deal that needs a little work or something that is move-in ready.  So, if you want your home to sell relatively fast for the most money, your house needs to stand out from the crowd and be move-in ready.  Staging your home properly can give buyers that great first impression that a seller needs.

Every seller wants to sell their home fast and for top dollar.  However, it takes careful planning and making the right presentation to make your house irresistible  to home buyers.  These  tips will help make your property more marketable and have buyers chomping at the bits to get out their checkbook and buy your home.

1.  Take the Emotion Out of It

Yes, you’ve lived here for several years, and you have a lot of memories.  You’ve turned a house into a home.  Sure, you’ve put some sweat equity into it, and made it better than what it was when you bought it.  We get it.  But when you remain emotionally attached, it really makes selling it tough.  Picture yourself handing over the keys to the new owner.  Remember, you’re getting ready to move to a new home and start a new chapter in your life.

2.  To Sell Your Home Quickly You Must Price it Right

I started to make this #1, but had to reconsider.  Once you’ve done #1, taking the emotion out of the home selling process, it makes it a little easier to price it right.  If you bought your home in the last five or six years, it’s going be tough because you could have little or no equity.  When you price your home too high, buyers have so many others to choose from, you may receive very few, if any, showings.  Even if you are fortunate enough to get a showing, buyers most often will not consider making an offer.  They perceive a seller with a high list price to be non-negotiable.  It comes down to a simple economic theory of substitution.  If there is another home of similar style and function, but priced lower, a buyer will consider the lower priced house first.

Over 50% of Forsyth County (NC) homes are selling at 95% of list price or better and over 75% are selling at 90% or better.  You must be priced within that price range if you want to sell your home quickly.  Every real estate market is different, so it’s important to have a knowledgeable Realtor® to help you set your list price.

3.  Remove Your Identity

You have a beautiful family, and you’re proud of that.  So, you want to show them off.  Who wouldn’t?  You’ve put pictures of them everywhere.  Well, now that you’re ready to sell your home, it’s time to take them down (at least most of them).  When potential buyers see your pictures, they see the house as your home.  You want them to see it as their home, so take your personal identity out as much as you can.  This will help your potential buyers to see themselves owning the home with pictures of their family on the walls instead.  It’s a subtle change, but honestly it will help.

4.  Spruce Up the Outside to Maximize Curb Appeal

What do buyers see first?  The outside of your home.  If you can’t make a good impression here, chances are they could care less what the inside looks like.   So, make sure the leaves are picked up, the bushes are trimmed and the landscaping is prepared.  Put out fresh pine needles or mulch and plant new flowers in pots and in flower beds.  This will really maximize your curb appeal.

If you have peeling paint, then give your house a fresh coat of paint.  Your competition has already done this, so if you want to receive the highest price for your home, you should do it too.  And be sure the area around your front door is inviting.  This is the area they see right before coming into your home, so it should be neat.  If you can’t do this on your own, then hire someone to do it for you.

5.  Declutter, Reorganize, Staging

When buyers first walk in your home, it’s important to make a good first impression.  So, what they see, smell and feel should be “this feels like home.”  It’s important to get rid of as much clutter as possible.  If you have a room that looks full and crowded, remove some items (including furniture if necessary) and make some space.

You should also organize each room for its intended purpose.  In other words, if you’ve been using your dining room as the kids’ playroom, remove the toys and put dining room furniture in the dining room.

In sales, it’s all about presentation.  Staging your home will make a your home look stand out and look the most attractive to buyers.  Here is another good article to learn more about home staging.  Staging Your Home to Sell

6.  Just Clean It!

You should do a deep cleaning inside the house including carpets, walls, and the windows.  There’s almost nothing worse for the chance of selling your home than having a buyer view it while it’s dirty.  If you can’t get the carpet clean with a deep cleaning, then you will want to replace it.  Offering a carpet allowance just isn’t cutting it in this market.  There are just too many other homes in inventory to choose from (i.e. see previous reference to “substitution”).

When you get a showing, be sure not to leave dirty dishes and cups in the sink (or dirty frying pans on the stove).  You would think that would be common sense, but I can’t tell you how many showings I’ve had where this was the case.  My thoughts were “REALLY!?!”  I don’t think they REALLY wanted to sell their house.

7.  Do Repairs – Increase Your Return

If you’ve lived in your home for a few years, chances are there are a few repairs that need to be made.  You don’t necessarily have to do all of them, but if you look at a feature in your home and think “I don’t like that.”  Most likely buyers aren’t going to like it as well.

Although, you may not want to spend money on a home you’re getting ready to leave, it could be well worth it.  As I mentioned earlier, if you can’t clean the carpet then you’ll want to replace it.  Most buyers can’t get past the fact that your home has dirty, worn out carpet and want something that is move-in ready.

You’ll also want give the interior a fresh coat of paint and make sure all of the rooms are painted with a neutral color.  I know everyone has personal preferences, and painting is a pretty simple repair for a buyer, but having neutral paint colors on the wall just makes sense when selling your home.  For instance, I was showing a brick ranch home in Pfafftown, NC to a young couple, and the outside of the bathroom door was painted purple (same as the inside) and the master bedroom was painted royal blue with the trim painted metallic copper.  Can you say “interior design FAIL”?  Needless to say, the buyers bought a different home.

If you don’t have the time or expertise to do it yourself, then find a good handyman to do the repairs for you.  This can help save you time and money.  Sometimes DIY is not the best option.  Smart buyers are going to do a home inspection, so the more repairs you can do before hand the better.

Preparing Your Home to Sell

Selling your home is one of the most important financial transactions you will make.  The goal is to sell your home as fast as possible and for the best possible selling price.  These tips will help you prepare your home to sell.  Apply them, get your home sold, and then you can move on to the next exciting chapter of your life.

When you are ready for a professional to assist you in selling your Winston-Salem, Clemmons, or Lewisville home, make sure you have an experienced Realtor® who knows the local market  and knows how to market your home.  Contact us at the following link to get your FREE Highest Price Home Analysis.

Check out more home staging tips below.

Existing Home Sales Were Up 4.4% from February to March 2012

Forsyth County’s real estate market continues to show improvement. The Winston-Salem Regional Association of Realtors reported last week that sales of existing homes in the area rose 4.4 percent in March from the previous month.

The number of homes sold in March was 400, which was up from 383 in February. Sales for March increased 2.8 from 389 in March 2011.

The average sales price jumped 14.7 percent in March to $154,985, compared with $135,133 in February. The average price was up 4.7 percent last month from $148,007 in March 2011. That may be the strongest sign that the market is improving, and some of the lower priced inventory is starting to shrink.

First Quarter Home Sales Best Since 2004

For the first quarter, existing home sales were 1,074. This was a 14.4 percent improvement over 939 homes sold in the first quarter of 2011. The local Winston-Salem Regional Association of Realtors® says this is the best quarter since 2004.

Many Economists are Saying the Real Estate Market is Bouncing Back

The Winston-Salem, Forsyth County area has been affected by the housing crisis just as most other cities across the country. However, it hasn’t been as bad here as most. Now, real estate markets in many cities and states that were hit the hardest are starting to bounce back. Many housing experts are seeking ways to revitalize the housing market as you can see in the video below

An Improving Housing Market is a Good Time to Sell Your Home

If you have been thinking about selling your home, now is a great time. The local real estate market has shown improvement for several consecutive months and rates are still low. Check out our Marketing Strategy to get your home SOLD!  Contact us today to get your home on the market, so you can move on to your next Winston-Salem, Clemmons or Lewisville dream home.