Coldwell Banker at Inman Connect San Francisco 2017

Inman Connect San Francisco brings together more than 4,000 of the most important people in real estate including top-producing agents and brokers, CEOs of leading real estate franchises and tech entrepreneurs to embrace and leverage the change that surrounds real estate.

Coldwell Banker showed up big this year.  From the stage to the lobby Gen Blue was seen and heard – reminding the industry why it is real estate’s most iconic brand.

Below are some highlights from the week.

The President and CEO of Coldwell Banker, Charlie Young, gave an inspiring keynote from mainstage about how the Empowered Agent is  bringing positive disruption to real estate and is a force to be reckoned with.

Charlie also wrote a piece for Inman on how to identify, embrace and support these talented specialists as we look to the future.

A special group of empowered agents were highlighted on mainstage including Team Diva with Coldwell Banker Bain in Seattle. Pictured on-screen below is Kim V. Colaprete and Roy Powell.

Lindsay Listanski, Senior Manager Media Engagement for Coldwell Banker, ran a social media crash course on how to implement geographic marketing using Facebook, Instagram and YouTube.

The audience ate it up and so did Inman. Lindsay’s presentation was packed full of how-tos, best practices and helpful tips on how to take your social media marketing to the next level and wow your sellers. You can catch her full presentation here.

David Marine, Senior Vice President of Marketing, predicted the future of real estate marketing. Spoiler alert: the future is video. He covered everything from local television advertising to how to effectively use video to bolster your listings. He also addressed how real estate brands should think about using tools like Zillow and Trulia to their advantage.

Coldwell Banker rounded out the week with a visit to the Nest Headquarters in Palo Alto.

Agents and brokers heard from Nest CMO Doug Sweeny about the future of the connected home and received a preview of what Nest is doing to support real estate Smart Home specialists.

Come back to CB Exchange for a new suite of marketing assets next month!

The networking and fun continued at the invite-only Coldwell Banker cocktail party – Smart Cocktails and Smart Conversations.

Even if you weren’t there in person you can catch up on everything you missed right here:

Coldwell Banker sales associates can also stay in the know with Gen Blue News. Now available on Amazon Alexa, just enable Gen Blue News on your Amazon Echo or Echo Dot and say “”Alexa, Open Gen Blue News” or download the podcast through iTunes.

And if you’re still having FOMO make sure to join us at Gen Blue and Inman Connect NYC!

Posted on August 18, 2017 at 2:26 pm
Kappel Gateway Realty | Category: community, financing, first time buyers, Homeowners, market trends, real estate | Tagged , , , , , , , , , , , , , , , , ,

Our Future is Now: The Coldwell Banker Brand Anthem

The power of the Coldwell Banker brand – in one customizable video (and downloadable eCards). View the brand anthem video and get your very own now.

From the CB Zap platform, award-winning CBx Listing Experience App, smart home initiative and record breaking ad campaigns, Coldwell Banker Real Estate has the resources that can help you lead your market and exceed your goals.

Watch above as we show exactly why Coldwell Banker is the real estate brand with real advantages.  And the best part is you can customize this video and download an eCard for promotional use in your local market!

The Coldwell Banker network is filled with trailblazers, trendsetters and doers.  By affiliating with the brand, your business demonstrates a power, reach and recognition of a global brand where we make a difference in the lives of others.

 

Source: Coldwell Banker Blue Matter Blig

Posted on August 14, 2017 at 8:58 am
Kappel Gateway Realty | Category: community, equity, family, Homeowners, neighborhood, real estate, Smart Homes, Uncategorized | Tagged , , , , , , , , , , ,

Condo vs. Townhouse

Condo and townhouses are often lumped together, but have some significant differences. Agent Jessica Riffle Edwards explains the differences between the two.

I’ll admit it, I’ve owned a condo for the last three and a half years and just found out what the difference was between a townhouse and a condo. While you would think that they’re pretty much the same thing, there are some key differences that might be critical to you depending on your situation and appetite for being responsible for home repair.

Here’s star listing agent Jessica Riffle Edwards explaining what the differences are between the two.

Source: Coldwell Banker Blue Matter Blog
Posted on August 9, 2017 at 9:08 am
Kappel Gateway Realty | Category: appraisal, bid, Bidding, Buyer's Market, Buyers, buying, closing, closing costs, credit score, debt, equity, escrow, first time buyers, Foreclosures, Homeowners, hot market, Offers, real estate, selling, Uncategorized | Tagged , , , , , , , , , , , , , , , , ,

4 Tips to Selling an Inherited Property

Selling an inherited house can be draining. Coldwell Banker gives 4 tips on how to successfully prepare, organize and sell your inherited house.

One difficult topic real estate agents routinely have to discuss is about selling an inherited home from a parent when they pass away. It is a situation that is an overwhelming experience, one filled with emotions and many questions. While talking about it is difficult, it is smart to be prepared. This includes having conversations as a family to determine who will be included in the will to inherit the home, where the deed to the home is kept and where other paperwork is located.

After the estate has been settled and the home received as an inheritance, deciding to sell, rent or keep the home is the first step which will help determine what to do next. For those who decide to sell the home, it is a good idea to work with a team of professionals including a lawyer and a real estate agents who can offer advice and guidance throughout the process.

Although each situation is unique, the professionals at Coldwell Banker have provided the following four tips to help prepare to sell an inherited home:

Assemble a strong team of professionals. Working with a real estate agent, lawyer and potentially a tax specialist can help make the process of selling an inherited property go more smoothly. A team of professionals can give the guidance necessary to prepare the home for sale and get all of the affairs in order. A real estate agent can offer crucial, local market information that is especially helpful if the heir does not live nearby. Lawyers and tax specialists can help put all of the processes in order to ensure that selling the home is as easy on you and your family as possible.

Do a home walk through and get organized. Going from room to room and looking at everything from the condition of the floors to how fresh the paint looks can help determine what may need to be done to the home to help it sell more quickly. If the inherited property is older, a home inspection is important before making any decisions as there may be certain systems that need renovations. Equally important is to gather all of the necessary paperwork such as the deed to the home as well as researching whether there are any mortgages on the inherited property that need to be paid. Even if the original mortgage was paid off, a reverse mortgage may have been negotiated to help cover expenses. Also looking into local property taxes and when they were last paid is important.

Have the home appraised and price it correctly. Property received as an inheritance is not considered to be income by the beneficiary. The adjusted basis of a home is its fair market value at the time it was inherited, so it is important to get an accurate appraisal of the home. A real estate agent can also provide counsel on an appropriate listing price to match market value. Out-of-town beneficiaries can also find it difficult to select competent appraisers, inspectors and other professionals to assist in the home selling process, all of which a real estate agent can assist with.

Consider staging or other cosmetic improvements. Although not necessary in all markets or price ranges, home staging can be the difference in getting a home sold in a price-competitive market. An inherited property may not be furnished in the style of other local homes on the market selling at a similar price. A real estate agent can help determine whether or not home staging is a good fit for a specific situation. They may also suggest making home design improvements such as repainting rooms and/or landscaping the yard or other parts of the property. Make sure the lawn and landscaping look good and that the exterior of the house is in good condition. Low curb appeal can keep potential buyers from researching a home they may otherwise love. Perhaps most importantly, having an experienced real estate agent to answer questions quickly and accurately frees up time to devote to other activities and events.

Find more information on selling your home on the Coldwell Banker Blue Matter blog.

Source: Coldwell Banker Blue Matter blog

Posted on August 8, 2017 at 9:45 am
Kappel Gateway Realty | Category: appraisal, Bidding, buying, Charity, closing, closing costs, curb appeal, distressed properties, Homeowners, investor, market trends, mortgage, open houses, real estate, Sellers Market, selling, Uncategorized | Tagged , , , , , , , , , , , , ,

Help! My Home Isn’t Selling

You listed your home for sale, but the home isn’t selling! Learn the simple things you can do to sell your home faster with Coldwell Banker real estate agents.

You listed your home for sale with high hopes. You love your property and you felt certain that it would sell in a reasonable amount of time. But it’s been several months since you listed your home.

You’ve had some interests and several showings. You’ve received a few lowball offers. Maybe you’ve even experienced the emotional turmoil of watching a contract fall apart. Regardless of the details, one fact is clear: your property is very much still for sale.

What went wrong? What can you do? Here are 8 effective tips to facilitate a faster sale.

Depersonalize
If your house has been on the market for six weeks or more without so much as a nibble of interest, it’s time to take a hard look at what might be putting buyers off.

If buyers can’t imagine themselves living in a home, they’ll be reluctant to make an offer.

To make your home appealing, pack away all of your family pictures, child artwork, and mementos. Paint your walls a neutral color like beige, cream or white. Pack away any polarizing or controversial pieces of artwork or decor. Depersonalize and try to make your home look like a model home.

Declutter
Buyers like to see clean, wide-open living spaces. If you have physical or visual clutter in the room, you’re sending a message to the buyer that you don’t have enough storage space.

Don’t send that message. Instead, get those moving boxes and start packing. You may not have a contract yet, but if you minimize your possessions and declutter the space, you’ll make the rooms look larger and create the impression of having tons of storage space.

Remove Evidence of Pets
We love our four-legged friends, but their food and water dishes, crates, and even just hair on the carpet can be a big turn-off to buyers who don’t like animals.

If you know that someone is coming to look at your home, put the food dishes away, store the crate in the garage or outside, and make sure to remove all signs of pet fur and dander.

Freshen Up the Space
Don’t let buyers turn up their nose at your home. Smell is the first thing potential buyers notice when they walk into a house.

Clean your home to get rid of any dusty or musty smells. If the weather is nice, open the windows to let your home air out. Install all-natural room fresheners or light scented candles in discreet places like the bathroom closet, laundry room, and garage. Choose a neutral and natural scent, like vanilla, rather than a pungent floral scent.

You could also consider investing an essential oil diffuser to leave running during home showings. Sage, lemon, lavender, and cinnamon are all subtle, relaxing, and inviting scents that help brighten your living space.

Work on Curb Appeal
Some buyers won’t even step into your home if they don’t think the property has curb appeal. Clean the windows and make sure that there are no visible cobwebs. Mow your yard and trim the edges, prune the bushes, plant fresh flowers, and spruce up your shutters by giving them a fresh coat of paint. You may even want to install a new mailbox and outdoor light fixtures.

Consider an Affordable Mini-Renovation
Not everyone likes a fixer-upper. Stained carpets and less than appealing paint colors may look like dollars needed for (and the hassle of) renovation in the buyer’s eyes.

Small renovations may lead to big payoff. Consider painting the walls a neutral color, installing a smart thermostat, replacing hardware and fixtures and other fairly inexpensive changes that will take away the label of a fixer-upper.

Stage Like an Expert
You’ve depersonalized, decluttered, renovated, and worked on curb appeal. Now it’s time to stage your home like a pro.

Place brand new, neatly folded towels and candles in the bathroom. Place a decorative bowl filled with bright red or green apples, lemons, or limes in the kitchen. Fill a clear glass cookie jar with fresh cookies on the kitchen counter.

Ask Your Agent About Pricing
If your home isn’t selling after you’ve done everything above, it’s time to talk to your real estate agent about adjusting the price.

This is where your agent’s knowledge of your market and the amenities of your home come into play. If your home is priced competitively, buyers will feel like they’re getting a great deal. A $5,000-$10,000 reduction may be all it takes to motivate the right buyer.

Make Your Home More Accessible
Make your home available for showings. If you limit your home to pre-scheduled viewings, you’re definitely not going to be able to sell as quickly. If you’re flexible with when you allow buyers to come see your property, you’ll have a better chance of getting more foot traffic and more potential buyers into your home.

 

Source: Coldwell Banker Blue Mattter Blog

Posted on August 7, 2017 at 9:06 am
Kappel Gateway Realty | Category: appraisal, Bidding, closing, equity, first time buyers, Homeowners, market trends, mortgage, Offers, overpricing, real estate, Resale Value, selling, Uncategorized, value | Tagged , , , , , , , , , , , , ,

Does It Really Matter What Your Neighbor’s Home Sold For?

Interesting food for thought. Depending on the dynamics of the other homes in the neighborhood, fair market values can vary.

Whether you’re buying or selling, remember that your neighbor’s sale price is just one piece of the puzzle. Whether you’re buying or selling, make sure you look beyond the data to get the big picture on home values.

After researching the sale prices of his neighbors recent home sales, Steve Rennie thought he knew exactly what his Kansas City, MO, house was worth. But when the Rennies decided to sell and started interviewing real estate professionals, they discovered they needed more and more relevant information. While the sale price of homes on your street can provide important insight into the price of a home you’re selling or buying, here are some of the other factors you should consider to make your best deal.

Unique or unusual home? Comparable sales may not exist

The Rennies quickly realized that recent sales near them wouldn’t be the perfect way to gauge their home’s value. We had interviewed several agents, and most came back with prices for homes that were not truly comparable to ours, because we had a unique older home in an area of newer ones, recalls Rennie. Eventually, the couple called real estate agent Dan Vick, vice president of RE/MAX Results in Kansas City, who offered a different perspective.

Since I didn’t have comps in their exact neighborhood, I went a half-mile away to find homes of similar age and style, says Vick. They’d said they wouldn’t list their home for one penny under $180,000, but based on my comps, I asked: Would you mind if I listed it for more? The house sold the first day it was on the market for $189,500. The Rennies were thrilled.

While comps give sellers a point of reference and an understanding of how strong the real estate market is, Vick suggests calling a professional familiar with your neighborhood to interpret comps properly and gauge what your home is worth. In newer subdivisions, especially if one or two builders have built the majority of the homes there, you can look at similar floor plans. But in older areas, that rule doesn’t apply, because you don’t have the same house four doors down the street.

Stick to the facts and expert advice when pricing a home

Even when you’ve studied comps and have noted relevant details about recent nearby home sales, it’s often easy for sellers to overlook important information when setting a price, says Michael Kelczewski, a real estate agent with Sotheby’s International Realty in Centerville, DE. I continuously encounter sellers who value their home above fair market price, he says. Cosmetically upgrading a kitchen or bathroom won’t usually generate a 100% ROI, so I’m tactful when explaining the reality of property valuations or asset depreciation.

Pricing your property appropriately, regardless of what your neighbor sold for, is key in today’s market, adds Matt Laricy, managing partner with Americorp Real Estate in Chicago, IL. A couple of years back, people would price a home high, get lowball offers, and be willing to negotiate, he says. Nowadays, with low inventory, many sellers are too aggressive: Their neighbor’s house sold in one day, so they think, I’ll overprice my place because I know I’m the only one on the block. But buyers are smart; they may not even look at it until the price comes down.

Bottom line? Don’t be greedy, Laricy says. If you price your home realistically, you’ll likely get more than one offer and net more money in the long run.

Understanding how agents set prices can help buyers score the perfect home

Buyers can benefit tremendously from checking what homes in their chosen neighborhood have sold for, says Laricy. In Chicago, we don’t do price per square foot, so knowing what a neighbors house sells for is huge, he says. If it sold really low, that’s good news for you as a buyer.

However, buyers sometimes overlook other crucial details in their quest to zero in on the best price, he adds. That can lead to a harder sale or lower profit in the future. In big markets like New York, Chicago, Miami, and LA, where people are coming and going all the time, you’re buying an investment, he explains. Buyers usually don’t think about value: why certain buildings trade at different rates now, which ones will trade higher than others in the future, and which neighborhoods are worth more. These are things you need an expert eye for.

He notes that younger buyers tend to neglect that all-important real estate factor: location. They chase kitchens and bathrooms, he says. They’ll buy in a less desirable location to get a nicer kitchen. You can always change a kitchen, but you can’t pick up a property and move it.

Yet even as buyers and their agents leverage comps to make a good buy, sometimes the heart wants what it wants, says Vick. I think you can get too caught up in the comparable data. If your buyers have looked at 15 homes, and this is the one they’ve fallen in love with, it really doesn’t matter what the comps are; you’d better go after it with a strong offer, he suggests. A note of caution to buyers: be careful not to overestimate a home’s appraisal value, since an offer that’s much higher than appraisal value could put your purchase at risk.

Buyers should bring their best offers from the start!

Especially in red-hot real estate markets, Laricy advises buyers to bid smart the first time or risk losing out to another buyer. Usually, buyers who lowball are the ones who end up missing out on two or three properties before actually getting something, says Laricy. Be realistic by putting in a strong offer upfront.

First-time homebuyer Corinne Hangacsi followed that advice before purchasing her two-bedroom townhouse in Wilmington, DE, this spring. We did our research through Trulia. Our real estate agent definitely clued us in to what was happening in the area, but we also looked at other comparable properties ourselves, she says. That in-person research helped Hangacsi feel comfortable making a strong initial offer. My biggest piece of advice for first-time homebuyers is to be patient and do your homework. Go with your gut; when you find the right place, you’ll know.

Source:  Trulia Blog

Posted on May 30, 2017 at 6:58 pm
Kappel Gateway Realty | Category: appraisal, buying, first time buyers, Homeowners, market trends, neighborhood, neighbors, Offers, real estate, research, Uncategorized, value | Tagged , , , , , , , , , , , , , , , , ,

Millennials Are All About the Online Experience—Except in Real Estate

There is just no doubt about it…the millennial generation is impacting real estate sales in a huge way. This generation prefers the tried and true method of one on one communication and trust building in person with their Realtor as opposed to an online agent. Read on!

When it comes to interacting with businesses, millennials are all about the online experience—except, a new survey shows, when in need of real estate services.

Seventy-five percent of millennials recently surveyed by CentSai, a financial wellness website, would prefer to enlist the help of a local real estate agent than an online agent. Seventy-one percent, in addition, would prefer to work with a local mortgage lender.

Why favor face-to-face collaboration? “Amount of hassle,” handholding,” “local knowledge,” “longstanding relationships” and “personal touch” were all given as reasons behind the desire to hire local.

“We were surprised to learn that online providers are not yet as big a disruptor in this sector as we first thought, despite purported cost savings,” says Doria Lavagnino, co-founder and president of CentSai. “We found that millennials place a high value on the personal touch and knowledge of a local agent. Buying a home for the first time is daunting, and working with a local agent—particularly an agent referred by a parent or friend—could provide peace of mind.”

The findings of the survey correspond with the results of a recent Ellie Mae survey that revealed mortgage borrowers—millennial and others—would benefit from a combination of in-person and online communication with a lender, and more seek out referrals for lenders, rather than find one online.

The internet is still an important part of the home-buying process for millennials, however, according to the CentSai survey. Ninety-one percent of those surveyed would look for prospective homes and neighborhoods online, either through an app or a site—in line with National Association of REALTORS® (NAR) research that shows 95 percent of homebuyers rely on the internet.

For real estate professionals, the survey’s findings emphasize the value of referral-based business in gaining millennial clients, as well a balanced, tech-and-touch approach to customer service. Fifty-six percent of the millennials surveyed, decidedly, plan to buy a home in the next two years.
Source: RisMedia

 

Posted on May 2, 2017 at 3:49 pm
Kappel Gateway Realty | Category: buying, first time buyers, Homeowners, Millennials, Uncategorized | Tagged , , , , , , , , , , , ,

5 Tips for First-Time Homebuyers

You’ve decided to go for it. You know mortgage rates are enticingly low. Buying a home can be thrilling and nerve-wracking at the same time, especially for first-time homebuyers. It’s difficult to know exactly what to expect.

Take these five steps to make the process go more smoothly.

Check Your Credit
Your credit score is among the most important factors when it comes to qualifying for a mortgage.

“In addition, the standards are higher in terms of what score you need and how it affects the cost of the loan,” says Mike Winesburg, formerly a mortgage planner in Wheeling, W. Va.

Scour your credit reports for mistakes, unpaid accounts or collection accounts.
Just because you pay everything on time every month doesn’t mean your credit is stellar. The amount of credit you’re using relative to your available credit limit, or your credit utilization ratio, can sink a credit score.

The lower the utilization rate, the higher your score will be. Ideally, first-time homebuyers would have a lot of credit available, with less than a third of it used.

Repairing damaged credit takes time. If you think your credit may need work, begin the repair process at least six months before shopping for a home.

Evaluate Assets and Liabilities
A first-time homebuyer should have a good idea of money they owe and money they have coming in.

“If I were a first-time homebuyer and I wanted to do everything right, I would probably try to track my spending for a couple of months to see where my money was going,” Winesburg says.

Additionally, buyers should have an idea of how lenders will view their income, and that requires becoming familiar with the basics of mortgage lending.

For instance, some professionals, such as the self-employed or straight-commission salesperson, may have a more difficult time getting a loan than others.

The self-employed or independent contractor will need a solid two years’ earnings history to show, according to Winesburg.

Organize Documents
When applying for mortgages, you must document income and taxes.

Typically, mortgage lenders will request two recent pay stubs, the previous two years’ W-2s, tax returns and the past two months of bank statements—every page, even the blank ones.

“Why it has to be every single last page, I don’t know. But that is what they want to see. I think they look for nonsufficient funds or odd money in or out,” says Floyd Walters, owner of a mortgage company in La Canada Flintridge, Calif.

Qualify Yourself
Ideally, you already know how much you can afford to spend before the mortgage lender tells you how much you qualify for.

By calculating debt-to-income ratio and factoring in a down payment, you will have a good idea of what you can afford, both upfront and monthly.

Though there’s not a fixed debt-to-income ratio that lenders require, the standard dictates that no more than 28 percent of your gross monthly income be devoted to housing costs. This percentage is called the front-end ratio.

The back-end ratio shows what portion of income covers all monthly debt obligations. Lenders prefer the back-end ratio to be 36 percent or less, but some borrowers get approved with back-end ratios of 45 percent or higher.

Figure Out Your Down Payment
It takes effort to scrape together the down payment.

There are programs that can assist buyers with qualifying incomes and situations.

“I’ve helped arrange assistance loans for $10,000, which are interest- and payment-free, and forgivable after five years. Although considered a loan, they’re more like grants. Other programs can provide up to $40,000 interest-free,” Winesburg says.

Finally, speak with mortgage lenders when you’re starting the process. Check with friends, co-workers and neighbors to find out which lenders they enjoyed working with and ask them questions about the process and what other steps first-time homebuyers should take.

Posted on March 6, 2017 at 7:09 pm
Kappel Gateway Realty | Category: buying, credit score, financing, first time buyers, mortgage, real estate, Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Boost Curb Appeal in a Day…

 

Sometimes when planning to sell a house, in the name of renovating interior living spaces, updating bathrooms, replacing appliances and adding decorative touches throughout the bedrooms, homeowners leave outdoor curb appeal as a last priority. While of course the inside of a home is important, sellers make a big mistake when they neglect the exterior. Why is a home’s exterior so important? Consider this: Curb appeal is often a potential buyer’s first impression of a home, the very thing that helps him/her decide whether or not to come inside. Whether they’re shopping online or by cruising through neighborhoods, the outside of your property is the first thing they’ll notice. If you’re selling your home or about to, how can you quickly and effectively tackle the outdoor appeal? Here are some key tips for boosting the curb appeal in a way that means quick turnaround and increased home value:

1. Start with the Front Door. Believe it or not, your home’s front door can be one of its most important assets. A new steel entry door consistently ranks as one of the most rewarding projects in home repairs, yielding an increase in home value that’s greater than the costs to install one. Likewise, to make the door especially captivating, consider painting it a bold, pleasing color that will grab attention and add charm. When buyers see a new door that looks attractive, they see another asset that makes your home the one to buy.

2. Make Any Necessary Repairs. Is the driveway cracked or the front doorbell busted? Now is the time to call a repair company or get out your own toolbox to make repairs. Buyers want turnkey, move-in-properties, and that means they want properties with repairs already done. Do the work now to get your home in ship-shape condition.

3. Keep Up with Landscaping. From mowing the lawn to pulling weeds, make sure you’re keeping up with your outdoor landscaping so that your home looks presentable and well cared for at all times. Overgrown bushes and dying plants are a surefire signal to potential buyers that you’re not caring for your home and leaving more maintenance for them to handle.

4. Add Lighting. While most buyers will come visit your home during the daytime, it’s not at all unusual for the most interested ones to also drive by at night to see what nighttime curb appeal is like. Landscape lighting can make all the difference in terms of how a home looks, so make an investment in attractive lighting options that illuminate and add interest to your property. “Solar landscaping lights are a great addition to any yard because they don’t require complicated and expensive wiring,” says Bob Vila. “Remember, though, you get what you pay for—cheap lights won’t last as long and simply won’t look as good.”

5. Touch Up Paint. A fresh coat of paint is just as powerful outside as it is inside, so to update your home’s look, repaint the exterior or at least touch up problem areas. Another idea is to paint the trim a new color that creates either a nice complement or contrast to your home’s overall look.

6. Make Over the Mailbox. You might not think a mailbox matters much, but it’s yet another one of those little details that can add up together to make a strong impression on a buyer.

7. Add Outdoor Furniture. From rocking chairs on the front porch to an outdoor patio set on the back deck, outdoor furniture creates outdoor living spaces that expand your home’s appeal. Look for attractive, durable pieces that will endure weather damage and look good for years to come — whether or not you include these pieces with the home sale, setting them up is a great way to stage your home for greater resale value.

The bottom line when it comes to curb appeal is that a little investment today can add up to big rewards tomorrow. Take the time to update, clean, repair and add value to your property’s exterior now and you will make it more attractive to buyers, not to mention more beautiful to come home to. Use the tips above to get started now.

Source: Rismedia

Posted on March 4, 2017 at 11:58 pm
Kappel Gateway Realty | Category: curb appeal, maintenance, real estate, selling, staging | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Get Your Credit Score Ready for Homebuying Season!

Getting ready to buy a home this spring? Make sure there aren’t any cracks in your credit. A good credit score is essential when it comes to securing a mortgage.

“If (your score is) below 600, you’re probably not going to buy a home in the short term,” says Mike Sullivan, director of education at nonprofit credit and debt counseling agency Take Charge America.

Given the slew of stringent regulation introduced following the housing crisis, most lenders simply won’t risk extending this demographic credit. In fact, even consumers with good scores should polish up the ol’ credit report.

Qualifying for the best mortgage rates starts at a 740 credit score. Scores below that threshold will likely have higher interest on their home loans.

So if you plan on hitting up the housing market this April, make sure to pull a copy of your credit report and check to see where your score stands.

Check Your Status

Under the Credit Card Accountability Responsibility and Disclosure Act of 2009, or Credit CARD Act, everyone is entitled to one free credit report from each credit bureau every year.

Obtain a copy of this report from AnnualCreditReport.com. It won’t come with your score—you can purchase that for a nominal fee. But there also are websites that offer free versions of your score year-round.

A recent version of your credit report will show you where you stand in terms of creditworthiness. The report should also spell out what you need to do to improve your score.

“You don’t have to entirely guess,” Sullivan says. “You simply look at what (the score) takes into account and you deal with those issues.”

Get Current

You’ll definitely want to address any delinquent accounts on your record.

“If you are behind, you want to bring those up to date as soon as possible,” says Kathryn Moore, a certified consumer credit counselor with GreenPath Debt Solutions. Delinquent accounts are a huge red flag to mortgage lenders because they demonstrate a lack of ability to repay debts.

They’re also the quickest way to tank your credit score. A missed payment—particularly following an extended period of good credit behavior—can cause a drop of 70 to 90 points.

Sadly, you won’t immediately recoup all those points once the account is reported as up to date.

Instead, “you need to be patient and make all of your payments on time and slowly build your score up” again, says Stephen Brobeck, executive director of the Consumer Federation of America.

The role that time plays in building stellar credit is why it’s ideally “a good idea to look at your credit at least a year out” of shopping for a mortgage, says Bruce McClary, a spokesman for the National Foundation for Credit Counseling.

Getting a Quick Boost

If you are behind this timeline, there are a few steps you can take to potentially give your score a quick boost.

For starters, scan your credit report for accuracy. An error—such as an old, bad debt; incorrect account balance; or worse yet, a phantom foreclosure—could be needlessly weighing down your score. Have these errors corrected by contacting the credit bureau in question.

“There’s a link (on your credit report) to dispute any inaccurate information,” Moore says. “The credit bureau from there will have to resolve that dispute within 30 days.” Once a negative error is removed, your score should improve.

You can also engineer a quick boost by paying down existing debts, particularly high credit card balances. This move improves your credit utilization rate—essentially how much debt you are carrying versus how much credit has been extended to you — and should bolster your score.

Experts generally say to keep your credit utilization below 20 to 30 percent of your collective credit. However, “you really want to get that ratio down to rock bottom if you’re looking for a house,” McClary says.

Clearing out existing balances will also improve your debt-to-income ratio, which a “lender looks at” closely during their mortgage decision process, Moore says.

Lenders typically say the “back-end” debt-to-income ratio—or the amount of your income that is needed to cover all your monthly debt obligations, including credit card bills and other loans—should be 36 percent or lower.

Finally, if you recently missed a loan payment because you, say, didn’t know about the bill, try calling up the issuer (or lender) to see if they will refrain from letting the credit bureaus know about your faux pas.

What to Avoid

Once you have your score in the upper echelon, make sure it stays there. Avoid running up your credit card balances again, which will help keep your credit utilization in check.

Also avoid applying for other loans, including store credit cards, particularly in an attempt to improve this aforementioned credit utilization rate. Applying for new credit generates hard inquiries on your credit report, which could ding your score.

And “if those inquiries don’t necessarily show up as approved accounts, that sends up a red flag” to lenders because it could look like you were turned down for a credit line, McClary says.

Not to mention that you’re more likely to miss a payment when you have multiple cards at your disposal, Brobeck says.

Conversely, don’t close any accounts while you are looking for a mortgage, as the closure could send your credit utilization skyrocketing in the wrong direction.

Source: RisMedia/Bankrate.com

Posted on March 4, 2017 at 11:50 pm
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