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7 Tips To Make Your Living Room More Appealing To Home Buyers

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7 Tips To Make Your Living Room More AppealingEveryone knows that first impressions are important. By carefully staging your home, you can positively influence the feelings your potential buyers have when they are viewing the property.

Staging is the art of decorating and arranging the spaces within your house to make it more appealing to buyers. If you can adapt the rooms to create an attractive and welcoming zone that home buyers can see themselves in, they will be more likely to buy your property.

One of the most important rooms to stage is the living room, because it is such a central part of the house. This is where a lot of the social activity occurs, so it should appear comfortable and welcoming.

Here are some tips to keep in mind when staging your living room before the next showing of your home:

  • Clear out the clutter. The most important step is to de-clutter, because a mess will turn off potential buyers. Clear away any papers, toys and other items to make your living room as clean and minimalist as possible.
  • Go zen. The main purpose of a living room is for relaxation, so make the space look as comfortable as possible. Try a soft throw on the sofa, plush cushions and a big chair that is just begging you to come curl up with a book.
  • Strategically place furniture. Arrange the living room furniture to create areas of conversation, such as two sofas facing each other with a low coffee table in the middle.
  • Depersonalize. Remove your personal items. If you have too many family photos and personal effects in the room, it can make it difficult for your potential buyers to imagine their own family living there.
  • Remove the bulk. If your living room feels small, you can remove some of the furniture to give it the illusion of being bigger.
  • Channel your green thumb. You might want to consider bringing in some plants to make the space feel fresh.
  • Brighten it up. If your living room has dark corners, invest in upright lamps that will help illuminate the space and provide an aura of intimacy.

With these seven tips, the living room in your St Paul home will be much more appealing to potential buyers.

If you are ready to get your home sold, call your trusted real estate agent for a personal consultation to get the best return on your real estate investment.

Know Your Real Estate Disclosure Laws Before You Sell Your Home

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Know Your Real Estate Disclosure Laws Before Selling Your Home

When deciding to sell a piece of St Paul real estate, there are certain things you must disclose about the property to the buyer before the sale can go through.

Disclosure laws are put in place to protect the buyer from unknowingly purchasing defective property. Not disclosing certain information about the property can jeopardize the sale, or worse, invite a lawsuit.

This has become more of an issue lately as some sellers are tempted to gloss over deficiencies in the home they are selling in order to try to get a higher sales price.  In fact, a recent poll of real estate agents showed that 75% of agents ranked non-disclosure among the “top three current and future issues.”

What You May Need To Disclose

The main items that need to be disclosed are any defects with the home. This includes, but is not limited to, plumbing problems, water leaks, cracks in the foundation, insect infestations and toxic materials in the home — such as lead, asbestos, carbon monoxide or mold.

Be sure to fully disclose anything that may be pertinent to the buyer before purchase. Some disclosure laws include reporting issues with neighbors and whether the home has a criminal or notorious past.

If you are unsure about some information regarding your real estate, one option would be to state that you do not know that specific information. Remember though, if you knowingly withhold information, it may cause the sale to fall through or could be used against you in a lawsuit.

Does It Make Sense To Have A Pre-Inspection Done?

Sellers can also have their home inspected prior to placing the property on the market to prevent any surprises of unknown problems with the home. This way, defects can be fixed before listing the property, and the disclosure form can state the problem has been fixed. Buyers will almost surely want an inspection prior to closing, and a pre-inspection may suffice.

Disclosing information does not mean the seller needs to fix the problem. Any disclosed problems with the real estate can become a negotiation point. Remember, the most important thing is to be honest about any known issues with the property.

Real estate disclosure laws may be different depending on the state in which you live. The best way to know what you need to disclose in your area is to check with your trusted real estate agent or property attorney and discuss any potential property issues with them before you fill out the seller disclosure form.

What’s Ahead For Mortgage Rates This Week – May 13, 2013

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Whats Ahead For Mortgage Rates This Week May 13 2013Mortgage rates rose last week with average rates a 30-year fixed rate mortgage rising from last week’s 3.35 percent to 3.42 percent with buyers paying all closing costs and 0.7 percent in discount points.

Average rates for a 15-year fixed rate mortgage rose from 2.56 percent to 2.61 percent with buyers paying their closing costs and 0.7 percent in discount points.

Freddie Mac also reports that average rates for a 5/1 adjustable rate mortgage rose from 2.56 percent last week to 2.58 percent with buyers paying their closing costs and 0.5 percent in discount points.

Here are noteworthy points from last week’s economic news:

Monday:  In spite of improving economic conditions, a majority of participants in the Senior Loan Officer Opinion Survey on Bank Lending Practices indicated that their lending institutions would not be relaxing residential mortgage lending standards. Lenders perceive a significant risk in terms of being required to absorb losses incurred on defaulted mortgage loans.

Mortgage owners including Fannie Mae and Freddie Mac, along with mortgage insurance companies can require mortgage lenders to buy back defaulted loans or make them whole for losses related to foreclosed and otherwise defaulted mortgage loans.

Tuesday: CoreLogic reported an increase of 1.9 percent in national home prices for March. This news represents the 13th consecutive increase and a year-over-year increase of 10.5 percent.

Home prices were boosted by strong increases in the West; Nevada posted a 22.2 percent gain from last March and California posted a 17.2 percent year-over-year gain.

CoreLogic predicted a year-over-year increase of 9.6 percent for home prices for April, with a monthly increase of 1.3 percent increase expected between March and April.

Thursday: Weekly jobless claims brought good news as they came in at 323,000; this was lower than expectations of 335,000 new jobless claims and the 327,000 new jobless claims reported in the prior week.

Friday: The Treasury Department reported that the federal budget has a surplus of + $113 billion for April. This was $54 billion higher than for April 2012 and the highest monthly surplus since April, 2008.

Increasing home values and federal budget surpluses, along with falling consumer debt pointed the way toward overall as well as personal economic recovery last week.

What‘s Coming Up

This week brings a couple important economic reports affecting the real estate industry including the Home Builders Index on Wednesday and the Weekly Jobless Claims and Housing Starts numbers released on Thursday.

The Consumer Sentiment and Leading Indicators reports will round out the week on Friday. Consumer Sentiment is important in terms of housing markets and mortgage lending; consumers typically don’t buy homes or move up to a larger home if they aren’t feeling secure about economic conditions.

This week’s economic data may provide further evidence of a stronger U.S. economy as well as a snapshot of retail spending and consumer costs.

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