When Selling Your Home “First Impressions Count”

We’ve heard it a thousand times, still it’s a cliché due to the fact it’s accurate – First Impressions Count. And even though “Don’t judge a book by its cover” is additionally a well-known cliché, prospective buyers have a tendency to discount this one when evaluating would-be home purchases.

Put yourself in the buyers’ position and step out to the curb in order to take a look. Notice everything which may not produce the impression you want? Consider the following “first glance” enhancements.

The front door preferably should be welcoming – paint or stain the entrance if it displays evidence of cracking or peeling. Have a front porch? Dress it up utilizing container gardens and sweep routinely, creating it an attractive “outside room.”

Examine regarding other warning signs of peeling paint all-around the outside and touch up wherever essential. Remember the fact that prospective buyers will certainly be comparing your house to additional comparable property, and every small aspect that helps make yours more attractive could pay off.

Of course, your landscaping creates an distinct first impression, therefore take out all dead or dying debris, feed the lawn and plant a few flowering bushes if you need a little color.

Finally, your home looks fantastic, so make certain it’s nicely lit for the show! Don’t overdo it, but do present a well-lit entrance and pathways, and also “uplight” your better landscape design elements. If you show buyers “We adore this property,” then so will they!

1005 S. Walker, San Pedro CA. 90731

CLASSIC 1929 SPANISH LANDMARK ESTATE……. Nestled in the prestigious Vista Del Oro section of San Pedro, this Spanish masterpiece sits high above on a 14,200 SQ. FT. double lot. The incredible grounds that surround the home have mature trees, selected grass areas, numerous colorful plants and flowers that tie the early 1900’s theme. Double gates greet you as you enter the property. The tower entrance opens to a formal entry and living room,balanced with a vintage fireplace and newly refinished hardwood floors. The dining area with coved ceilings opens to a circular breakfast nook. New gourmet kitchen with Viking stove and custom cabinets. Lush granite bath with separate tub and shower. Huge family room with private entrance. The park like rear grounds enjoy numerous sitting areas a meditation area with bubbling fountain. The grounds include a spacious cabana with BBQ. We consider this home to be the best of Southern California living.

Listing Price: $1,398,000
Address: 1005 S. Walker Ave
City: San Pedro
State: CA
ZIP: 90731
MLS # (if any): V10000194
Square Feet: 2,391
Bedrooms: 3
Bathrooms: 1.75
Basement (full, 1/2, finished, unfinished):


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New Short Sale Rules

Home Affordability Foreclosure Alternatives (HAFA) Short Sale Rules

Help has supposedly arrived to help sellers (and Realtors®) doing short sales. The federal

government’s Home Affordable Foreclosure Alternatives (HAFA) program has established short sale rules that

are supposed to be streamlined and created incentives for borrowers and lenders to work together to avoid

foreclosure. The rules are intended to are intended to speed up the short sale process – which we all know is

desperately needed! The idea is that under HAFA, sellers will receive preapproved short sale terms from the

lender prior to putting their home on the market. This should greatly reduce the time involved as well as the

possibility of losing your buyer in the middle of the process.

There are requirements that a seller-borrower must meet in order to qualify for the HAFA program. First, in

order to be eligible, the seller must apply for a loan modification through the federal government’s Home

Affordable Modification Program (HAMP). Sellers who do not qualify for a loan modification or miss payments

during the initial loan modification period qualify for HAFA. Note that if a seller-borrower qualifies for a loan

modification and keep payments current during the initial loan modification will not qualify for the HAFA

program.

Once a seller-borrower is determined “eligible”, then the property and mortgage must meet certain

requirements:

  •  The property has to be the borrower’s principal residence.
  •  The borrower’s mortgage has to have originated before Jan. 1, 2009.
  •  The mortgage must be owned or guaranteed by Fannie Mae or Freddie Mac.
  •  The borrower has to be delinquent or default is foreseeable.
  •  The homeowner has to demonstrate hardship.
  •  The borrower’s total monthly housing payment must exceed 31 percent of the borrower’s    monthly gross income.
  •  The borrower’s unpaid principal on the mortgage cannot exceed $729,750.
  • If the seller-borrower meets is eligible and meets the above requirements, the HAFA program should be

available to the seller to hasten the short sale process.

What is the new process under HAFA?

1. Lenders must offer a short sale in writing to the borrower within 30 days if the borrower does not

qualify for or complete a loan modification.

2. Borrowers then must respond within 14 days to the lender’s short sale agreement.

3. When a purchase offer is made on the property, the seller-borrower must submit the purchase contract

to the lender within 3 days, along with the buyers’ mortgage preapproval and the status of negotiations

with other lien holders on the property.

4. Lenders must approve or deny the purchase contract within 10 days of submission.

All of this should take no more than 57 days!

HAFA rules also state that lenders must release borrowers from the obligation to repay the difference between

the sales price and the loan amount. No deficiency judgments are allowed for a first or second loan. This

is a significant change from current law and will relieve much stress from current homeowners who are afraid to

get out from under their current debt load even though it is too much for them but they are worried about a

promissory note from the second lienholder if they walk away.

NOTE: The HAFA program will only be in place between April 5, 2010, and Dec. 31, 2012.

The information in this article is believed accurate as of the date of publishing. This information is not intended to be legal advice for a

specific situation but rather to provide answers to general questions. Advice in specific situations may differ depending upon a wide variety of

factors; therefore, individuals with specific issues should seek the advice of an attorney, financial advisor or other professional.

Getting Your Home Prepared to Sell

Expenses of Repairs

 Do not perform anything costly, like remodeling. If at all possible, utilize personal savings to cover any repairs and enhancements – don’t go charging up charge cards or obtaining new loans. Keep in mind that part of selling a residence is also planning to purchase the next home. A person does not want to do a single thing which will impact your credit ratings or harm your ability to qualify for your next mortgage.

 Plumbing and Accessories

 While looking at a residence, possible residence buyers frequently don’t truly know exactly what to do. Thus they play with things. They flick light switches. They will open anything having a handle. They turn on most the faucets as well as flush all the toilets. Using nice sparkly fixtures makes an impression.

 All of your sink fixtures need to look sparkly as well as new. If this cannot be achieved by cleaning, purchase brand new ones. If you don’t purchase something extravagant, this may be achieved inexpensively. Make certain each of the hot and cold water knobs are effortless to turn and that the faucets do not drip. If they do, change the washers.

 It seems like hard work, however it’s fairly easy — even for the novice.

 Verify to ensure you have good water pressure and that there are no unsightly stains on any of the ceramic. If you have a hard stain to remove, one trick is to employ a cleaning crew to go through and clean your home on a one-time basis. They seem to be wonderful at making stains disappear.

If you are thinking of buying or selling a home, condo or investment property call me Mark Spector 310-430-0633