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The housing market these days is under pressure. Foreclosure rates are on the rise and those trying to sell a home are experiencing great competition. So what do these hard economic times hold for those trying to sell their homes?

What should you do if you’re trying to sell?
There are many reasons why you may be trying to unload your home, even if it is a buyer’s market. Maybe your job transferred you to a new location, you’re recently divorced, or you’re downsizing after sending the last child off to college.

While each area of the country is experiencing difference sales times and sales prices, are there ways you can increase your chances of selling? Try these three tactics and your chance for selling goes up.

1. Make sure the price is right. What happened two years ago has nothing to do with today. Do some research on your own to find out what houses similar to yours are selling for in the area. There are some websites online where you can find sales price information. You can also enlist the help of a professional real estate agent. If you price your home for the current market, it will sell. If you price it too high or too low, then you may experience a delay.

2. Make it presentable. The better your house looks, the faster it’ll sell. Buyers can’t envision themselves living in your home if it is dirty, cluttered, or in need of major repairs. It’s not a matter of remodeling the whole house, but it is a matter of making it look its best.

3. Offer a bonus. Whether it’s offering to pay the buyer’s closing costs or upgrading the appliances, offer a bonus incentive to get the attention of potential buyers.

It’s a buyer’s market, but this doesn’t mean you can’t sell a home in today’s market. If it’s time for you to move on from your current home, try these three tactics to increase your odds for selling–making it easier and faster.

Kristie Lorette is a freelance writer and marketing consultant that specializes in personal finance. She is also the editor of The Mortgage & Credit Diva, a blog devoted to mortgage and personal finance tips, tricks, and advice for consumers. You can read Kristie’s blog at http://www.mortgageandcreditdiva.blogspot.com or learn more about her writing and marketing services at http://www.studiokwriting.com

Author: Kristie L. Lorette
Article Source: EzineArticles.com
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Home building cost overruns can plague any home building or remodeling project. This occurs so frequently that it is recommended you include a 5 – 10% contingency fund in your budget. This will be used for items that you will have no control over, such as problems found with the land once excavation has begun.

Use the 5 tips in this article to control home building costs & minimize cost overruns.

Tip 1: Planning Your Home Building Costs Take the time to plan on paper what you want your house to look like. When doing your budget, visit stores to look at appliances, fixtures, cabinets, flooring, etc. In doing so, you will have a clearer idea of what you want and more importantly, what it will cost. Then, build that amount into your budget so there are no surprises later.

Tip 2: Specify Home Building Materials When working with a contractor, be sure that the specific materials you expect to be used are included in the bid and subsequently, in the contract. If your plans say wood floors and you are expecting teak and get oak, your recourse is limited because you did not specify it in writing.

Tip 3: Change Orders If you take the time to plan your home building project on paper before breaking ground, you can minimize the number of Change Orders. Change Orders frequently increase the cost of your project because they were not planned for in the original budgeting. If you agree to a change order and there is an expense involved, you are responsible for those costs unless the contractor has agreed he will pay for the change. Depending upon the extent of the change, it can involve modifying the original plans and having the local building authority review the changes including the labor and materials. Always keep an eye on any changes to the original plan and design and take the time to determine the financial impact of the change on your project. Changes to construction projects represent the single most common reason a project goes over budget and/or the completion is delayed. Take the time to plan before you build.

Tip 4: Size, Style and Shape of the Home These three factors can significantly contribute to the cost of building your dream home.

• Size – Work with even numbers and have your home size rounded up or down to increments of two (2) feet. This reduces wasted materials. Also, build a home no deeper than 32 feet to eliminate the need for specially designed trusses.
• Style – Typically, it will cost less to build a two-story home than a one-story home of similar square footage. A two-story home will have a smaller roof and foundation. In addition, plumbing and ventilation are more compact in two-story homes.
• Shape - Having more corners and angles will increase the amount of labor and materials needed to build your dream home. A rectangular or box shaped home will cost less to build.

Tip 5: Two Most Common Times for Cost Overruns The beginning of your home building & construction project – when you are doing excavation and possibly putting in a well. You won’t know what is under the ground until you begin to excavate. If you are drilling for a well, you will have no control over how far down you will need to drill for water. This is where having a contingency fund is essential.

The second most common time for a cost overrun is near the end of the project when you are selecting your finishes, i.e., cabinets, counter-tops, lighting and plumbing fixtures, flooring, appliances, etc. If you took the time to shop around before you did your budget, you can more easily stay within your budget when you do your final selections.

Cost overruns are common in any home building project, but with knowledge and planning they can be kept within manageable boundaries.

Chuck Warrender, an experienced custom builder, opened UBuildIt in 1988 to show people how to become Owner-builders and save money or gain equity on their own custom home building and remodel projects. Chuck designed the UBuildIt System for Owner-builders who want to build more home for their money by directing their own construction projects. UBuildIt’s Construction Consultants guide Owner-builders every step of the way and provide a proven system, professional advice and trusted resources. UBuildIt now has over 100 franchises across the US. Learn more about Chuck and how to build or remodel your own custom home at UBuildIt.com

Author: Chuck Warrender
Article Source: EzineArticles.com
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How to reduce costs and risks when buying a new house

There’s something appealing about a brand new house — you get to pick out the carpet, drapes, and appliances, and have everything designed just the way you want it. New houses often come with more space and better appliances, require less immediate fix-up work, and are more energy-efficient. New houses are also sometimes priced more reasonably than comparable old ones.

But, there’s a downside. Too often, the advantages of new houses are overshadowed by problems such as shoddy construction and lengthy construction delays. Here are some suggestions on how to avoid problems.

Choose the Developer, Then the House

The most important factor in buying a new house is not what you buy (that is, the particular model), but rather who you buy it from. A responsible builder understands that he or she has a reputation to protect, constructs homes that live up to their promises, and remains available should issues arise. More than a few builders, however, take your money, throw together a house that starts falling apart on day one, and then stop returning phone calls. The message is, don’t buy a house — buy its builder.

To check out a builder, contact:

Owners who live in the development you’re considering, if possible. If the development is run by a homeowners’ association, talk to the association members and the board of directors. If nothing has been built yet, talk to owners in a recently completed development by the same builder.

County planning or building department staff who deal with local developers. For the best results, ask your questions positively. “Do ABC Homes finish their projects on time, with few complaints?” will probably be answered candidly, but “Is it true ABC Homes is a shady outfit?” might not be.

Real estate agents who’ve worked in the area. Agents usually deal directly with new house sales, they may have handled the sale of houses built by developers and may know their reputations.

The state or local licensing or consumer protection agency that oversees contractors, and the local Better Business Bureau. Ask whether any complaints have been filed against the developer.

Have the House Inspected

Hire an experienced contractor or home inspector to evaluate the house you’re considering for the quality of construction. When a house is being worked on, it’s easy to see whether construction standards are high or not. If your house isn’t built yet or is already finished, have the inspector or contractor look at other houses the developer is in the process of building. Don’t count on the city inspector to catch all the mistakes. You have to realize that they look at dozens of homes every day. Builders count on city inspectors missing things to save them time and money.

Even if the home is finished when you buy it, hire a home inspector to give it a thorough examination. Also, you should visit your home site periodically during construction and take the final walk-through to catch last minute cosmetic defects.

Keeping Track of Construction

Ask the builder to allow your inspector or contractor to give the home a once-over at least three times during construction:

when the foundation is poured, when the framing is completed, and when the home is finished. Have the inspector examine various systems as they are completed, including the walls, roof, plumbing, electrical, and insulation systems.

For information on hiring an inspector, ask your buyers agent to recommend one .

Be Wary of Optional Add-Ons

Many developers advertise houses at comparatively low prices to get you to come out and have a look. Once there, commissioned salespeople show you models loaded with expensive extras such as a spa, fireplace, granite countertops, and giant bathrooms. If you become seriously interested, the advertised price will rise as you decide that certain extras are essential or irresistible.

Buying extras lets you semi-custom design your home. But ask yourself what you really need and how much it will cost. Upgrades often add 10% to 25% to the cost of a new home. To get the most for your money, follow these steps:

1. Take care of essentials first. Be practical, both for your own sake and for the sake of your home’s resale value. A fenced yard (especially if you have children or pets), more electrical outlets, wiring for high-speed Internet access, and, in many areas, air conditioning, are day-to-day necessities. A hot tub and wine cellar are not.

2. Make sure prices are fair. Some developers are less ethical in pricing extras than others. Steer clear of those who deliberately use poor-quality materials in highly visible spots in their models, almost forcing you to upgrade to over-priced substitutes.

3. Negotiate. Ask for one free extra for every two you buy. For example, if you pay top dollar for good carpets and kitchen cabinets, ask the developer to throw in a better stove at no charge. And don’t be afraid to ask for the right to buy and install extras on your own instead of paying high prices for the developer’s. A lot of the times builders will advertise specials on the internet, radio, or newspaper.

4. Sweat Equity. Builder might allow you to do things yourself. Such as paint, tile and, carpet. This way you can bring your price down and get a more custom look. You might be in the heating and air conditioning business and want to do your own house. Ask you builder if they allow any work to be completed yourself.

5. Read the fine print. Many new house contracts contain a clause saying that the model’s features, such as carpets and appliances, are not necessarily the same brands you’ll receive. You are guaranteed only the functional equivalent of what you see, which is typically different and costs the builder far less. Make a list of the precise features you’re concerned about (with brands or makes and models) and include it in your contract. If one developer won’t accommodate you, shop elsewhere.

6. Upgrade after escrow. Most of the upgrades can be completed after you have moved in for a fraction of the price that the builder will charge you.

7. Get it in writing.When dealing with a developer’s sales representative, get all promises as to what will be done, and when, in writing. Before you sign the purchase contract, make sure it includes every one of the agreed-on changes. If you’ve already signed the contract when you negotiate changes, write them down in a separate document and have the developer or the sales representative sign it. Don’t rely on oral commitments, which are notoriously unreliable and almost impossible to enforce.

8. Have a firm idea of what you want. Builders like to charge outrageous fees if you want to change anything. Have a firm decision of what you want before you let your builder know. Change orders cost you about $500 per item you change. So if you decide to change carpet and tile colors it could cost you at least $ 1000 more.

Can I get a better deal if I work directly with the builder?

The answer is no. All builders have the commission worked in the price. The sales people will retain that money if you don’t bring in a buyer’s agent. It could end up costing you more money and more frustration when working directly with the builder

Get a New Home Warranty

You’ve probably heard horror stories about new houses that begin to disintegrate soon after the buyer moves in — the roof leaks, the basement floods after the first big rain, or the doors won’t close. This shouldn’t be a problem if you buy from a reputable developer — but not all developers are reputable, and you may not be sure about yours.

Your best bet is to buy a house with a new house warranty from an independent insurance company. Typically, they cover workmanship and materials for one year; plumbing, electrical, heating, and air conditioning systems for two years; and major structural defects for ten years.

You can also buy a new home warranty on your own, but you’ll have to shop carefully to find one that covers major structural defects. Most builders offer a one year home warranty. Be aware of what it cover before you decide not to get a home warranty from an independent insurance company.

Protect Yourself Against Delays

It’s best not to close escrow on a new home until the work is completed. You don’t want to leave the builder an opening to delay construction into the indefinite future.

Unfortunately, however, in a hot market you may be forced to close on a home that isn’t finished (or even started). If so, you’ll be asked to sign a very one-sided contract. You will be given numerous deadlines (to make deposits, agree to design changes, get loan approval, sell your present house, and close escrow), but the developer will have great leeway — sometimes up to a year from the target date — to deliver the house.

Do what you can to negotiate a fairer deal. Most important, you want to establish a reasonable date at which you can cancel the contract and get all of your money back if the builder doesn’t do what they said they would.

If you must close escrow because you need to move in, but significant and costly work remains, insist that the necessary funds be taken out of what you’re paying the developer and placed in a trust account after escrow closes. Then ask for a written agreement stating that if the work is performed on time, the money will be released to the developer; but if it isn’t, the funds go to you to hire someone else to do the work. If the developer refuses, at least make a list of what needs to be done, assign a completion date to each, and have it signed by the developer. This is not recommended because it is much harder to get builders to complete work after it has closed.

Your best interest it to work with a buyer’s agent to help you through the buying and building process.
The people in the model home, work for the builder with the builders’ interest in mind not yours.

Bronson Barber an Utah Real Estate Professional and Entrepreneur

I have created a team of professionals that can handle the most difficult problems that people have with real estate. Whether it is getting out of an old house or getting into a new home we can do it.

[http://www.bronsonbarber.com]

Author: Bronson Barber
Article Source: EzineArticles.com
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Don’t let people tell you that selling a house, especially quickly, is an easy thing. There is a process involved to sell your house. Wouldn’t it be nice if all we had to do was 1) publish our house, 2) meet a potential buyer, 3) negotiate, 4) sell the house? But as most of us know, it doesn’t work that way.

We have prepared a checklist to sell your house. Now, by following this checklist, there are no guarantees, but it should make it easier to sell your house, and more quickly too.

A) Do you want to have an agent to sell your house or would you rather do it yourself? Sure, there are fees and commissions involved if you use an agent, but you may decide it’s worth it. An agent will carry out all the business of your home in correlation of your checklist. But, it you decide you want to do it yourself, it will cost you effort and time, but it will save you money.

B) Be an informed seller and you will have to communicate. This is all correlated with your promotion strategy. Don’t forget to use the media, such as the newspaper, pamphlet, and one of the biggies in today’s society–the web, the Internet.

C) Have you done preparations on the house itself? Don’t forget this, or else your house will have a tough time selling and will not sell quickly. How’s the house’s exterior and interior. Does it need repairing or painting? How are the appliances in the home? You might have to decide if you are going to pay a professional to do pre-listing house inspection of not.

D) You might have to sell you unnecessary furniture or appliances.

E) Now comes the big one that one’s don’t want to face sometimes: Getting familiar with financing terms, like mortgage financing.What is fixed, adjustable, seller financing, assumable loans, pre-qualified, pre-approved, commitment, escrow, etc.

F) Another one that people sometimes hates: Negotiation. Are you up-to-speed on contract, offer, deal, etc. You should learn how to do offer approaching and the legal transaction process.

G) Learn to know what you can improve or can’t improve in your house. You can improve interior, exterior, etc, but you cannot improve the location of the house, or the style of the house, etc.

H) Will you be providing a home warranty to your house?

I) Have you decided what you will do at the closing and settlement to the buyer?

J) Lastly, have you made moving plans?

Hopefully, this checklist will provide some help for you to sell your house, and quickly too, but as you can see, there are several things you need to consider when selling your house. Now, if you decide to pay a realty agent to organize all these things, just let them carry it out, and your involvement in this home selling process will decrease.

If you really want to sell your house quickly, then you want to go to my website at http://quicklysellyourhouses.weebly.com/. You’ll learn more about selling houses quickly, maybe in as little as 21 days.

Author: V Price
Article Source: EzineArticles.com
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