Tips & Tricks For Any Situation

Many home sellers who wish to expose their property to a larger market make the decision to hold an open house, and schedule a date and time during which they invite people to come and explore the property. Is it worthwhile for potential sellers to go through the hassle of an open house? Is it more risk than reward?

Of course, plenty of homes are sold through private showings, scheduled only between the home owner, the realtor, and the buyer. But the publicity of a well-advertised open house can bring in a larger sphere of interested people who might not have been exposed to the property otherwise.

Many people in the market to buy a home can't leave work or family to go house-hunting during the week; it can be difficult to find a time that works for both the buyer and the owner. Open houses make this simple. They are usually held on weekends, and all parties have plenty of advance notice. Not to mention the fact that a buyer at a well-prepared open house sees a much more pleasing display than one who is led through the house at 9:30 on a Monday morning.

However, all of this can come at a price. The number one concern among home sellers regarding open houses is security, for their possessions as well as their property. A seller who is already packing up to move might be very amenable to the idea of an open walkthrough, but one who is still living in the home would have quite a lot of preparation ahead. Things can, and do, get broken or stolen at open houses. It takes a great deal of time to organize a household's worth of belongings in such a way that several strangers poking through the house at once, trying to see how big the closets are, will not disturb them.

There is another security factor. Home owners are often just plain bothered by the idea of people seeing what they own and getting a chance to essentially case the joint. This is another reason why, if the owner is unable to store their property elsewhere during the open house, it may not be worth the risk.

Those who feel that an open house would be a good move in their market simply need to act smart. Request the help of your realtor, friends, and family, and pack away belongings. Provide adequate supervision in every room during the open house. If you would rather organize the open house into a series of guided tours, with one starting every fifteen minutes, this is a possibility (although you might lose one or two buyers who would prefer to wander free).

Basically, if your house doesn't have a lot of curb appeal and is short on offers, it might be worth your time to let potential buyers get a free peek inside. It can be a secure and helpful step in the selling process, provided you take the time to prepare for it.

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There are many brave buyers are willing to purchase a home that needs renovation or repair. But there's one problem that will most likely send them all screaming. As the seller, it's in your best interests to tackle this problem head-on before ever considering putting your home on the market. The problem is mold.

We're not talking about the normal mildew smell of a damp basement, although that will probably scare buyers, too, and should be remedied. We're talking about what is called toxic black mold, which sounds awfully scary, and it can be, especially to the highly allergic... or to your wallet.

There are many species of toxic black mold. All of them require a moist area to begin growth, such as a leaky pipe; and a fairly warm humid environment. Once they start, they can spread, causing poisoning symptoms in humans and destroying your home from the inside out. So how do you know if you've got mold?

 Check your home for leaks. If you've got a damp basement, dripping pipes, or a leaky roof, these are the first places to start. If you live in an area with high humidity, you should always be on the lookout. Watch for things like cracked, peeling paint, which indicates moisture on the walls; warped wood; black growths in the bathroom; and obvious mold growth in basements or attics. If you're finding it, start checking inside your cabinets, behind your floor baseboards, and in basements, crawl spaces, and wall cavities.

If you've got mold, you have the choice of calling in a professional to see what kind it is. If anyone in the household is experiencing allergic reactions, headaches, dizziness, or other adverse effects, it may be worth checking out mold growth to track down and verify that it is the source of the problem. Regardless of what you've got, however, you will have to clean it up to put your home on the market. Buyers today are all too aware of this problem, and the first signs of it will probably send them all headed for the door.

So it's time for clean-up. Remove all mold-infested items from the home, sealed in plastic bags, and wash mold off the walls and floor. Wear an oxygen mask during the process; keep windows open, and try not to inhabit the home during this time. It's a big process. We're not going to lie to you. Do it once, do it right, and get it done, and it should not take you more than one or two days to restore your home to mold-free condition.

Keep it that way. Remove the moisture sources that caused the mold. Replace leaky pipes, waterproof basements, and place dehumidifiers in damp rooms. Whether you're doing it for your family or for the potential buyers, it is essential to ensure that the mold doesn't return. Trust us: It's necessary.

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First impressions make a big difference, and selling your home is no exception. Sometimes big repairs and major renovations just aren't in the budget, but when it comes time to sell your home, you naturally want to get the best price possible. There are a few quick, affordable things you can do around your house to kick up your property value and leave potential buyers with a good feeling. And that good feeling might just lead to a good sale.

The first thing you should do is the first thing potential buyers will see. Paint your front door. Even if the door is in good shape, it's worthwhile to add a splash of color to make your home stand out- both on the street and in the buyer's memories. A great shade of barn red or forest green will add some interest and draw the eye towards the door, which is, after all, the center of your home. Make sure to choose a warm, inviting color, and paint neatly, wiping up any spills. A gallon of good outdoor paint is cheap, and the effect will be worth it.

Wash your windows. So many sellers don't think of this one, but it can possibly make the biggest impact out of anything you will do to prepare your home for the market. Everyone loves natural light, and the build-up on windows occurs so gradually that most people don't even realize they are losing much of the light they could be getting. Getting them clean can be a bit of a pain if you have a house with multiple stories, but trust us, it's worth it. Call a professional if necessary. Just get the windows clean, inside and out, and remove and wash any curtains or blinds. If you haven't done this in awhile, you might feel as though you've knocked out a wall when you see the amount of light that comes pouring in. And potential buyers will see it too.

Finally (and this one is easy), put up some house numbers. This is a tiny trick that helps stamp your house into the buyers' minds, and creates a lasting impression. Go to the hardware store, and buy some brass or iron numbers that match your house's decor. Attach them to the porch, the front door, or wherever seems appropriate. Just make sure they're bright, tasteful, and noticeable. Potential buyers will see the numbers and imagine it as their address, which opens the door to them feeling at home in your house. Making your house numbers noticeable will, at the very least, keep your property from fading into a generic list of houses that the buyers might have seen already.

Of course, property value is determined by much larger factors than we've discussed here. But if you're hovering on the edge of receiving a certain price, a few extra steps to help nudge you up further can't hurt. And might just pay off.

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It's too large to be practical. It's out of place among the things around it. It's made for a small cost and sold for a big one. It looks a lot like every other one ever made. And it's popping up everywhere.

It's not a retail chain, a mega mall, or a fast food restaurant. It's a McMansion.

The term "McMansion" came into use in America in the 1980's, after these ubiquitous oversized houses began popping up in neighborhoods across the nation. What, exactly, is a McMansion? Also referred to, in the same vein of sarcasm, as a tract mansion or a starter castle, McMansions are a style of oversized house, built with mass-produced quality, usually adorned with a cookie-cutter style of "traditional" features such as gates, gables, and wrap-around porches. In spite of the variance of the individual features, all McMansions have a tendency to look alike, which helps spawn the derogatory attitude they tend to inspire. People also dislike them because of the fact that they are built hastily and haphazardly, with no real regard for the environment, the lay of the land, individual tastes, or, most importantly, the historic value of a particular neighborhood.

McMansions- the elegant estate in a to-go box- are popping up in neighborhoods all over America. And in some areas, it's becoming a real problem.

With the size of American homes increasing in alarming rates over the past few years, people have to realize that all of these big houses must be going somewhere. Although in the early days there were often separate communities for this type of housing- often on the edge of a town, and featuring a gate, a playground, and a manufactured stream- nowadays there is less space and a McMansion can very well be plopped down in the middle of any neighborhood where land is available.

Some cities are fighting back. Suburbs around Detroit, MI and Dallas, TX are fighting the tract mansion boom particularly hard. Citizens in those cities, and in other cities whose historic neighborhoods are being affected by the building of these ever-larger homes, are lobbying the government to pass regulations preventing the tearing down of smaller, older houses in order to build something so out of keeping with the rest of the neighborhood.

In the meantime, as more of these ubiquitous mansions continue to appear, neighborhoods are changing face, lots are becoming too crowded, and old cities are losing their charm. The more McMansions that are built, the more alike they become- after all, there's only so many ways to arrange a porch and three gables. It might have been okay when it was all within one gated community. But now, there's a problem: they're spreading.

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Making money in real estate is often perceived as a get rich quick scheme, and it's really not that way.  Just like any other investment, real estate is an investment that must not be entered into lightly.  No matter the amount of money you sink into your real estate endeavors, never forget that you could lose it just as easily as you invested it, just as with any other investment.

The most common means of investing in real estate is through rental properties.  Many people will buy properties, fix them up (or not, lots of times) and then turn around and lease them to others in exchange for a monthly rent.  It is important to keep in mind when leasing properties that if people could afford to pay $1100 or $1200 a month for their housing expenses can take out a mortgage, decreasing the need for rental properties.  In order for the rental market to continue, rental rates must be reasonably priced.  You can base a fair rent off of the value of the properties in the surrounding neighborhood.  

Real estate is not a predictable market.  Most inventors who have attained recent successes say that they invested in the real estate market when it was hot.  The stock market was at an all time high and they took advantage of that, making lots of money along the way.  While riding the real estate wave a lot of people gain a great deal of success in the business and think it is always going to be that way, but that is not so.  The most important thing to remember when you are thinking of getting into real estate is that the face value of the property itself is not going to be enough to hold you over.  A reserve of cash, an emergency fund if you will, is necessary to a successful real estate investment experience.  You must have the ready cash or credit to cover insurance deductibles, fix repairs, and cover emergencies.  Otherwise you risk losing the property through several means, up to and including lawsuit. 

When signing a loan to get into the real estate business initially, bear in mind that your payments are not always going to equal the payments being made on the property if it is being leased to another.  That may be why it is in your best interest to have full or at least near full ownership of a property before renting it out.  This is because not only would you be responsible for making up the difference between the rent and your payment, but you also have the responsibility of paying any insurance payments or property taxes that ownership of the property may incur.

Real estate is one of the best businesses out there for people who don't have a lot of opportunities available to them.  It has successfully turned many a dreamer into a businessman, but it is not to be regarded as a get rich quick scheme.  The business of real estate takes a large amount of cash reserves saved up, a good investing mind, and a good knowledge of the stock market and its conditions.

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The outside of your home is the first thing potential buyers will see. Keep this in mind when it comes time to put your home on the market. Many home sellers focus largely on the inside of the property, which is extremely important- but this is not a time to overlook the first impression your home makes from the street.

There are a few simple things you can do as a home seller to make your house more instantly appealing. If potential buyers get a good feeling on their way in, they're much more liable to like what they see once they get inside.

The first step is grass. If you have it, great. Cut it neatly and trim the edges. If you have grass but it leaves a lot to be desired- for example, if you more weeds than actual grass- you can still make a good impression by keeping it neatly trimmed. If you haven't noticed, neatly cut weeds look a lot like grass. It's not ideal, but it's better than nothing. If your lawn is in bad shape and has bare patches, invest in some grass seed. Sod would make the ultimate impression, but most home sellers are reluctant to put down the cash this requires, and there's no guarantee that sod will grow anyhow. Put out fast-growing grass seed, string off the area, and let potential buyers know that you've made the first step towards giving the house a nice green lawn.

Shrubbery is another inexpensive and important factor for homes on the market. It's worth the small investment to plant some bushes near the front door, or near low-lying windows where privacy might be a concern. It's a known fact that people respond well to bushes planted at the end of a sidewalk, framing the entrance into a yard, so if your walkway is bare consider a bush on either side of it. A few blooming flowers from your local nursery will also help. Don't worry if they look freshly planted. You don't need to fool people into thinking they've been there forever; you just want to show that you've made some good effort, and that the yard has good landscaping potential.

And that's the last trick: We said "potential." One of the worst things a home seller can do is over-landscape their lawn. Buyers will get a crowded impression if they can't turn around in your yard without running into a brick path or a bed of flowers. Leave some open space and let buyers imagine how they would design the area if they owned the house. Your potential buyers might have children, and want the open yard space for a jungle gym or play area. So keep the design loose and generic, and don't spend too much time or money on landscaping to sell.

All you really need are the few small details that will make a good first impression.

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