How to Get Every Dollar You Deserve… by Getting the Full Value of Your House!

Special Report From Jutta “Utah” Burden

The ability to reap additional profits on the sale of your home can be accomplished easily enough, if you make the ‘ improvements. Many changes can provide the prospective buyer with enhanced feelings about your home. Feelings of more space, more light, more rooms, more closet space, greater privacy, warmth and security. Basic, simple and inexpensive improvements can provide an improved emotional response in a potential buyer.

An example could be something as small as a crack in the paint on a wall. By simply applying some plaster and touch-up paint, you eliminated what may be an unstated concern that your home was poorly maintained. Though the feeling may be unconscious, it’s just as important that the potential buyer feel an overall sense of emotional desire for your home. If you are working with a small budget, these simple techniques will work absolute wonders.

1.         The Magic of Mirrors!

Mirrors can provide a greater sense of space and elegance when properly placed. Be careful not to overdo it, but when placed properly throughout your home, each area will seem larger to the potential home buyer. Try looking in your attic or basement for any old mirrors, but be sure they have a nice frame or at least give the frame a new coat of paint. You may also want to visit a local flea market or garage sale – you can often find a great deal on an old miror or two. Putting one- foot square mirrors on a closet door home in the master bedroom is always an attractive touch.

2.         Adding Additional Closet Space

One of the biggest complaints heard from potential buyers is that there just isn’t enough closet space! Simply purchasing an inexpensive closet organizer and installing it in any or all of your closets can make all the difference. You can also try putting a rod across one corner of a bedroom, for hanging clothes, further out put another rod higher up. From this rod hang a clothes-hiding screen made from a variety of choices. The screen could be matching material of the bedspread, drapes etc.. The idea here is to be creative so that the “fake closet” looks as though it was a part of the room

3.         Make a Bare Wall Beautiful

Wallpaper is inexpensive, quick and easy to do! The right wallpaper can brighten the room or hallway and bring it back to life. Be careful to choose something with a neutral design or pattern. Remember, you’re trying to move out!

4. Bring Old Floors Back to Life!

Nothing turns off a potential buyer quicker than dull, dingy, disgusting-looking floors. Whether you have wax, wooden or tiled floors, do whatever you can to make them shine again! For wax floors, either rent a

floor machine and do it yourself, or hire a professional if it’s in your budget. Have a professional give you an estimate and explain exactly what they would do to bring your floors back to life. If you have them explain what they would do, it may be just as easy to do it yourself. If you have carpeted floors you should either have the carpet steam-cleaned or, if it’s in your budget, install new carpeting. This may sound expensive, but new carpeting can add thousands of dollars to the value of your home.

5. Bring in Some Plants

Having plants in the house is not only healthy for you but you create a warm feeling with them. Ficus trees have become very popular and they can be purchased inexpensively. Attractive pots such as ceramic, brass or even designer plastic will add a designer flair to your home. Hanging plants such as Boston ferns are inexpensive, easy to care for and would go great in your new home wherever you move.

6.         Adding a Room Without Calling in the Contractor!

This simple but seldom-used technique can give a buyer the feeling there are more actual rooms in your house. Floor-to-ceiling room dividers are inexpensive and simple to install. When a buyer walks through your home, they will generally count the rooms in a subconscious manner. Each room will present an emotional response as they walk through your home. By dividing and designing each side of your room, you create a ‘separate room” feeling in the potential buyer. It may sound crazy, but it works.

7.         Clean Up the Bathroom

We’ve probably all heard that phrase a hundred times growing up as children! Well guess some what? It’s still valid. Give your bathroom a face-lift if needed. Fresh paint, decorative moldings, tile grout, new designer faucets are attractive eye catchers.

8.          What is That Smell?

People don’t like to admit it but, everyone’s home has a certain smell to it. We just never notice because we live with it day in, day out. Strategically placing fresh scent devices throughout the home will be pleasant to the nose of any potential buyer. As a matter of fact, an old Realtor® trick is to pop some cinnamon rolls in an oven 5 minutes before a showing. I bet you thought all Realtors just had a sweet tooth!

My hope with this report has been to help you make simple changes that can add thousands of dollars to the ultimate selling price of your home. I hope you found the ideas useful and if there is ever any way I can be of service to you or anyone you care about, please contact my office. Your initial consultation is always completely free of charge and you’re under no obligation of any kind. We’ll sit down for 15-20 minutes… no high pressure, just plain, honest talk about what it’s going to take to achieve your personal goals. Go ahead, pick up the phone and give me a call. I’d love to hear from you!

Jutta “Utah” Burden

Keller Williams Realty

Email: Utah@UtahBurden.com

How much is your home worth? Find out at http://www.magnoliamarketvalue.com/

How to Buy Your First Home the Easy Way! Avoid 10 Common Potentially Devastating Mistakes First Time Home Buyers Make.

Special Report From Jutta “Utah” Burden

Buying a home can be a “hair-raising” experience. It can be a roller coaster of emotions… finding the right place… securing the loan.., moving in. And, if you’re like most of us, your home will be your largest investment. The emotions over such a large and personal purchase can often cloud good business judgment.

Many homebuyers do very little research before “diving in” and investing their hard-earned money. Before doing that, doesn’t it make sense to be as informed as possible? That’s what this report is all about. It’s designed to help you avoid 10 common, critical mistakes many homebuyers make. If you follow these 10 suggestions, with the help of the right real estate professional, you’ll make a good sound business decision that you’ll be happy and proud of for years to come.

1. Inspect, Inspect and Inspect- Go over the inspection report with a fine toothcomb. Make sure the report was done by a professional organization. For condo purchases, go over the by-laws, and association fees. Don’t take anything for granted… inspect everything!

2. Imagine the Property Vacant- Your furnishings and decorations will be the ones filling this new residence. Don’t be swayed by beautiful furniture … it leaves with            the owner.

3. Income Plus Lifestyle Equals Mortgage Payment- Sit down with a competent real estate professional and honestly discuss your income level and living expenses. Take into account future considerations like: children, add-ons, amenities or fix-ups. Your dream home is certainly worth a sacrifice but don’t mortgage your entire future.

4. View Several Homes- See at least 3-5 properties. Don’t move on the first property you see but… don’t move too slowly either. With your agent’s help, you’ll be able to view enough properties to get a good overall perspective of your market. And when you find the right property, all the legwork will be worth it.

5. Utilize Your Team- By aligning yourself with the right real estate professional; you’ll have an entire team working for you. Top real estate professionals have lenders, title reps, and inspection teams – an entire group of trained professionals to make the whole buying experience simple and easy for you.

6. Failing to Have Adequate Insurance- Investment property brings liability. Tenants, cars, parking lots, and property liability — the list is quite extensive. Adequate insurance coverage is an absolute must! Be sure to consult with an insurance professional and protect your hard earned assets.

7. Inspect, Approve, and Confirm All Documents- The list of documents that need to be proofed can be overwhelming to the first time investor. Building permits, zoning laws, rental and lease applications, health licenses, laundry leases, underlying loan documents, by-laws, title policies, mineral leases, inspection reports, purchase contracts, insurance., don’t attempt to do it alone. The right professional can remove most of the stress and bring the transaction to a conclusion smoothly.

8. Get a Bill of Sale For All Property Involved- Many types of personal property (appliances, furniture, fixtures, etc.) can be involved in an investment sale. Be very detailed… know who owns what!

9. Charge Fair Rents- Vacancies, turnovers and lease terminators are your biggest expense. Charge fair rents, treat your tenants with respect and respond as quickly as possible to their needs. It’s a lot less costly in the long run to take care of the little problems before they become big problems. Vacant property is your Achilles heel.

10. Select Qualified, Good Tenants From the Start- Take the time to check references. Previous landlords, employers, financial references, credit, judgments are all vitally important. If there are any questions, investigate fully. Drive by their previous residence. A little work up-front can save tremendous problems later on down the line.

11. Make Sure You get Estoppels Letters- Get letters from tenants confirming the status of tenancy. Make sure their version of the rental or lease agreement corresponds with the seller’s interpretation.

12. Don’t Spend Positive Cash Flow- Most of successful investors have free and clear properties. Be sure to re-invest your cash flow back into the property payment and speed up the amortization schedule. This decreases your debt load and increases your equity…, which builds your net worth.

Investment property can be one of the most rewarding aspects of your financial portfolio. Be certain to have all your “ducks in a row” before you invest. Do your homework! Consult with a professional real estate agent and relieve yourself of the hidden troubles that can plague first time investors.

I hope this brief report has been of value to you. It is my ultimate desire to help you achieve your real estate investment goals and provide you with the most professional, efficient and effective service possible! If you have any questions or there is any way I can help, please give me a call.

Jutta “Utah” Burden

Keller Williams Realty

Email: Utah@UtahBurden.com

 The Woodlands is an exceptional place to live! Find Out More by Clicking Here

Should I Buy a Home Now?

I’m often asked if this is a good time to buy a home.  Some clients are concerned that home prices may fall further than they have already.  They are assuming that the best course of action is to wait for the bottom in the market and then buy.  The problem with this approach is that you don’t know where the bottom is until you see it in the rear view mirror, meaning until you’ve missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability.  Even though interest rates have gone up in the last six months, they are still near historic lows.  Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life.  It’s important to live in a home that reflects your taste and values, yet is within your financial “comfort zone.”  To that end, it may be more important to lock in today’s relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today’s market.

Jutta “Utah” Burden

Keller Williams Realty

Email: Utah@UtahBurden.com

Find homes for sale in The Woodlands and surrounding area at http://www.listingthewoodlands.com/

New $7,500 Tax Credit for First Time Buyers

Call me today for more information!

The Housing and Economic Recovery Act of 2008 was just signed by President Bush with some amazing benefits for first time home buyers.  Call everyone you know who wants to buy their first home (or who hasn’t owned one in three years), this is too good to miss – it’s a $7,500 tax CREDIT (not deduction but a credit).

If you have not owned a home in three years, you qualify as a first time home buyer.  If you buy a home after April 9, 2008 and before July 1, 2009, you qualify for this credit.  Call your friends who just bought a home since April 9th and tell them they may take $7,500 off their tax bill if they qualify.  It has to be your principal residence, so rentals do not count.

The tax credit is 10% of the cost of the home, up to a maximum of $7,500. This is not an additional deduction that lowers the amount of income to be taxed, it is a tax credit.  In other words, you take $7,500 off your tax bill.  But there is a catch; the credit you receive now is actually an interest-free loan that must be repaid.

The loan has no interest, and will be paid back over 15 years.  You get the credit on your 2008 taxes, but you start paying it back on your 2010 taxes that are due in 2011, so you get at least two years without a payment.  You pay back 6.67% of the credit each year, so for a $7,500 credit the payment is $502.50 per year.  If you stay put for 15 years, you pay it off with no interest.

What happens if you sell the house?  You pay the balance back at the closing.  So, you get $7,500 now, and pay the rest of it back if you make money on the sale of your house.  What happens if you do not make enough money when you sell your house?  They forgive the rest of the debt.

Other restrictions stipulate that you have to buy your first house in three years before July 1, 2009, not have super high income, not use bond financing and buy anywhere in the US.

If you’d like to learn more about this program, please call me!

Jutta “Utah” Burden

Keller Williams Realty

Email: Utah@UtahBurden.com

Let me help you find the perfect loan for your circumstances at http://www.utahburden.com/Buyer-Resources/Loan-Analysis