So You Want to Sell Your Home - Part 8 - Standing Out From the Competition!

In previous posts I have emphasized that price is the number one issue in getting a home sold. However, what that really means is that the price must reflect the condition of the home being sold.

Real estate buyers, especially in today's market, look very closely at price and condition. Buyers believe that what they see is what they get and what they see determines what they are willing to pay for the home.

Buyers typically prioritize, whether consciously or not, a home in this order:

1. Curb appeal
2. Entryway
3. Kitchen
4. Master Bedroom & Bath
5. Living Areas
6. Other Bedrooms
7. Backyard

Curb appeal, believe it or not, has a major impact on how the buyer(s) view the rest of the house. It is the first thing they see when they approach your property. It sets not only expectation, but also the perception of how they view the remainder of the home.

In future posts, we will discuss how we can address curb appeal, as well as the remaining six priorities of the buyer, following the staging formula of 3P - 2F:

• plantings
• paint
• pictures
• fixtures
• furnishings

For information on getting your home ready to sell or for a copy of my 99 Tips for Getting Your Home Ready to Sell, call me at 706-207-5290 or click here to send me an email request.

Thinking of Buying a Home - Make a List, Check it Twice

When you go grocery shopping do you have a list of items that you want or need? Perhaps, if you are like me, it's one that your wife puts together for you. Whether it is just a few items or a couple dozen, we always grocery shop with a list.

I see a lot of grocery shoppers with lists. However, I see very few home buyers with lists. Sure, they all have some vision of a home, the home of their dreams, they can see it in their minds. But when out looking at homes for sale, they don't see it in reality. That doesn't mean that the home of their dreams is not out there, it often only means that they really aren't sure what the home of their dreams looks like.

How can you increase the chances of finding the home of your dreams? It really isn't that difficult. Just Make a List. I recommend making what I call the 15 list. First, make a list of 5 attributes that the home of your dreams must have. For seniors, or for couples with an infant or planning on babies, one must have might be a single story ranch or similar home. For families with older children it could be a split bedroom plan. A must have list could look something like this:

Our Dream Home Must Have:

1. Minimum 3 bedrooms, 2 baths
2. Split bedroom plan
3. Handicapped access
4. Fenced backyard
5. Low maintenance yard

Second, list 5 more items that would be nice to have, they could look something like this:

These items would be nice to have in our Dream Home:

1. Granite counter tops
2. Finished basement
3. 2 acres
4. 10 minutes from work
5. brick exterior

And finally, make a list of 5 items that you absolutely don't want (for some people, this is the hardest part). That list could be something like:

These things would make our dream home a nightmare:

1. swimming pool
2. adjacent to school or park
3. gas appliances
4. next to cemetery
5. fixer upper

Note, the above lists are only examples and not suggestions as to what you should want or not want in your dream home. They will be different for everyone. Review this list often, both before you start the home search process and while you are looking. You may be surprised to find that the must have and desirable items may swap places with each other, or even be replaced by other items you hadn't included originally.

You don't have to limit the number to 5 in each category, or even the same amount of items in each group. You might have 7 must haves, 10 nice to haves and only 3 absolutely no way will our home ever have these.

So, when you first think about buying a new home, whether it is your first, or or your tenth, make that list. If you are buying with someone else, make sure you have one list that includes both of your needs and excludes both of your absolutely nots.

For more tips on buying, selling or investing in a home or real estate in or around Athens, GA call me at 706-207-5290. Or you can click here to email me with your inquiry. Please visit my website at The Athens Real Estate Page for information on local properties available.

Athens GA Area Seniors to Get Income Tax Assistance

Athens GA Area Seniors to Get Income Tax Assistance

AARP is once again offerring free tax preparation assistance for low to moderate income taxpayers, with a focus on seniors in the 60+ age group. Help will be available now through April 11 on a rotating schedule among several sites.

Assistance is available at the following locations on the days and times listed:

Oconee County Library - Mondays , 1 - 5 PM

Oglethorpe County Library - Tuesdays, 1 - 4:30 PM

Kroger's, 1720 Epps Bridge Parkway, - Wednesdays - Saturdays, 9:00 A.M. - 1:00 P.M.

Athens Council on Aging, Hoyt St. - 9:00 A.M. - 1:00 P.M.

For more information, such as what papers and information will be required, call 706-543-9511.

This is a nationwide service from the AARP Tax-Aide group. For a location near you, outside of the Athens, GA area you can go to the AARP Tax-Aide Locator.

For information on Athens GA Real Estate, as well as the surrounding counties call me at 706-207-5290. Or you can email me or check out my website, The Athens Real Estate Page.

Get Ready for Your Credit Score to Decline - New FICO Formula Kicks in This Month

FAIR ISAAC is changing the playing field again, implementing it's latest version of credit scoring FICO 2008. And it doesn't appear that the change will be leveling it. The three major credit reporting agencies will be rolling out the new scoring system this year, with Transunion deploying it in January, Equifax in late spring and Experian at some later date.

The new FICO is touted to better predict the likelihood of a default on the part of the borrower. However, many of the changes appear to be designed to lower credit scores. FICO 2008 will place more emphasis on available credit, not just balances. So, even if you are not carrying a balance, if your credit line is reduced, your FICO score could be lowered. It appears, under the new scoring system, the more available credit you have, the better your score would be. (I remember having been rejected for an airline credit card in the early 90's because I had too much available credit even though most of it was unused). You will also have your credit score reduced by having only a few open and active credit accounts.

Supposedly, there are three changes that will benefit credit consumers.

• It will ignore debts gone into collection if original debt is less than $100
• It will not punish single credit set-backs, such as write offs or repossessions as long as all other accounts are in good standing
• It will continue to use some "authorized-user" information (although this is only a change from the fact that they were going to discard it entirely).
  

What will this do to the real estate and mortgage industry? I don't see anything good, at least for the first few months of implementation, especially since at any one time the credit agencies may be using different versions of FICO. That can only lead to confusion. Perhaps, in the long run it will lead to fewer defaults, but until it has rolled out completely, the only change that I can see is some tightening.

Personally, I know that my current FICO score is around 800. I am expecting it to drop just a bit since I am using my cards less and my only installment loan will be paid off in April.

Do you know what your score is? You can get an estimated range here.

Click here to read the complete article about the new FICO 2008 scoring system and how you can take steps to mitigate any lowering of your credit score.

Only 15 Days Left for Freddie Mac 3.5% Closing Assistance Program

Feddie Mac's Homesteps closing assistance program ends on Jan. 31. You still have 15 days to get a contract on a Freddie Mac Homesteps home (see me blog post about the program) and close by Mar. 14 this year.

This is an excellent program to help buyers get some assistance on their home purchase.

This looks like a helpful program to assist both buyers getting into homes and to help Freddie Mac sell off some of it's owned property. For complete details clink on the program link.

For more information on this program, and for buying or selling real estate in Athens and the surrounding 5 counties please don't hesitate to call me at 706-207-5290 or you can click here to email me.

Some Heavy Metal Thunder for Christmas

FOR SALE: 1977 HARLEY DAVIDSON FX LOWRIDER

In Good running condition, less than 1000 miles on rebuilt Engine and Transmission. Has many extras: S&S Super E Carb, electronic ignition, Kuryakyn Iso grips and Pegs etc. Many new parts: Tires, clutch, clutch and throttle cables, new rear brakes, completely rewired.

Could use new paint, and polish, but still a pretty good looking bike considering it's 30 years old.

Contact Tom Scott at 706-335-4419 if no answer call 706-247-4078

Asking $6,000 OBO, I am very willing to neqotiate.

3.5% Buyer Closing Assistance From Freddie Mac

Homesteps.Com, a unit of Freddie Mac is offerring up to 3.5% closing assistance program to buyers of Homestep listed homes. This program is available for contracts received by Jan. 31, 2009 with an escrow close on or before Mar. 14, 2009.

Homesteps will pay up to 3.5% or actual closing costs, whichever is lower for owner occupied, financed homes and up to 1% for owner occupied cash sale homes. Investors are not eligible for this discount.

This looks like a helpful program to assist both buyers getting into homes and to help Freddie Mac sell off some of it's owned property. For complete details clink on the program link.