Alaska

10 Home Features Buyers Want

Home designers and builders speaking at the recent International Builders Show in Las Vegas say that buyers are seeking cost-effective features and rejecting things that don't have lasting value.

"It's all about family togetherness - casual living, entertaining and flexible spaces," says Carol Lavender, president of the Lavender Design Group in San Antonio.

Paul Cardis, CEO of Avid Ratings, which conducts an annual survey of buyer preferences, identified these must-haves in new homes:

1. Large kitchens with islands
2. Energy efficiency, including energy-efficient appliances, super insulation, and high-efficiency windows.
3. Home offices
4. Main-floor master suite
5. Outdoor living space
6. Ceiling fans
7. Soaking tub in the master suite and/or an oversize shower with a seating area
8. Stone and brick exteriors rather than stucco or vinyl
9. Community walking paths and playgrounds
10. Two-car garages, but three-car garages are even more desirable

Source: MarketWatch, Steve Kerch (01/30/2010)

FHA Relaxes Anti-Flipping Rule

Beginning Feb. 1, the Federal Housing Administration will provide mortgage insurance for some purchases in which the seller bought the property and held it for fewer than 90 days.

The agency is changing what is known as the "anti-flipping rule" to speed up sales of renovated homes in communities with too many bank-owned and foreclosed homes, says FHA Commissioner David H. Stevens.

Waiving the 90-day rule will encourage private investors to buy vacant properties, fix them up, and quickly sell them to buyers who will be eligible to buy them using FHA financing.

FHA's change "is going to be absolutely terrific" for first-time home buyers hoping to take advantage of the tax credit, says Bobby Taylor, an associate with Coldwell Banker Mountain West Real Estate in Salem, Ore.

Source: Washington Post (01/30/2010)

For more information on the value of your home visit www.valuemyAlaskanhome.com. You will receive a Computerized Market Analysis by e-mail.

Selling Tips for Success in a Tough Market

When the housing market is less than kind to a seller and you have to sell, it is time to outsmart your competition. Of course you want the best possible price, but may have to sell in a hurry, especially if the mortgage has become a burden, or the moving day is marked on the calendar.

The key to success is to make your house the most attractive deal without giving away too much.

Here are suggestions how to make your home more attractive and sweeten the deal to generate extra interest in your home:

•· Price it right, don't be greedy. Your want to put your house IN the market, not ON the market. Your real estate agent will be your key ally in determining the price range in which your home will likely sell. Don't be greedy.

•· Use a knowledgeable, seasoned real estate professional. A veteran has already been through price wars, knows how to handle tough situations and stays calm when nerves are frayed and emotions run high. You will need that person to guide you to the finish line: signing the deed transfer at the title company.

•· Have your home inspected by a professional home inspector and heating system inspector (perhaps a pest and roof inspector, too) before listing the house - and then take care of health, life, and safety repairs. Buyers won't have excuses not to buy.

•· Stage your home - be critical about how the house might look to a prospective buyer. A professional stager can transform an empty or cluttered house into a welcoming home.

•· Don't move out before it sells - or if you have to - be sure the house is staged and a buyer can see and feel how nice a home this is. Not everyone has the ability to "imagine" what the house might look like when it is lived in.

•· Be willing to pay at least some of the closing costs for the buyer. A buyer may be able to handle the monthly mortgage payment, but is strapped for cash and may need your help. Help the buyer, and sell your house.

•· Give your agent copies of all improvements, inspections, or guarantees for items like a new roof, furnace, or hot water tank.

•· Ensure that your agent markets your home on at least eight to ten Internet sites, including Craig's List and Backpage.

•· Consider offering your agent a higher than the commonly paid fee. Don't ask your agent to cut the commission, you wouldn't think of asking your doctor or lawyer to do so. Your agent works hard and has expenses and only gets paid when the house sells. Consider offering a success bonus to your agent.

•· Keep your house in ready-to-show condition at all times. Do not require a 24-hour notice. You want to make showing your home as easy as possible. Don't lose a prospective buyer.

•· Focus on curb appeal and making a good first impression. You will not get a second chance.

•· Be open to negotiate on personal items like appliances, lawn mowers, snow blowers, and the like.

•· Take your first offer seriously, even if it is lower than what you expected or thought you were willing to accept. A second offer might not come along for a long time. Your seasoned agent will negotiate a contract that you can live with and that will get your house SOLD.

Now call your agent and get going today!

Achorage Police Say Kids Are Being Targeted For Abduction Attempt

There is a young man in Anchorage who is trying to abduct shool age children while they are making their way to school. So far, he has attempted three times to abduct girls between the ages of 10-11. According to ADN.com, he hit the girls, at different times and places, then offered them a ride to the hospital or home.

Fortunately, all three girls escaped and told an adult. The Anchorage Police Department (APD) is working hard to find this CREEP. REad more at ADN.com

When I get home, I know what I'll be talking to my kids about. Stranger=Danger, this sounds harsh but unfortunately, it's the reality that we have to live with today.

Suggestions for ensuring your kids get to school safely:

-If your child walks to school or the bus stop, Form a Walking Group with at least 5-10 kids. Teach the kids the dangers of talking or going w/ strangers and how to get scream for help if someone does approach them.

-Take turns walking the kids to and from school. Get a group of 5 parents together and form and take turns walking the kids to school.

-Make sure kids are wearing bright colored clothing and put a light reflector on their back packs/coats. It's still dark when the kids are making their way to school and this helps drivers keep clear of the children.

-Form a neighborhood watch group.

Any other suggestions?

Those Who Wait Will Pay Thousands More This Spring

Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority (FHA).

Coming just weeks before the April 30 deadline for the Home Buyer Tax Credit and just days after the March 31 expiration of the Federal Reserve Board's mortgage backed securities purchase program (which has kept home loan rates artificially low for over a year), these FHA changes make it even more important to act now to save big.

Here are a few reasons why:

On April 5th, the cost of required up-front mortgage insurance for loans guaranteed by the FHA will increase from 1.75% to 2.25%. For a borrower purchasing a $200,000 home with a $7,000 down payment, the up-front mortgage insurance will increase by $965. Up-front mortgage insurance is typically financed in the final loan amount so the impact to a monthly payment will be minimal but overall, the increase is still borne by the borrower both upfront and monthly.

Later this spring, the amount of money that a seller can pay on behalf of the buyer will be reduced from 6% to 3%. The reduction in these "seller concessions" can increase the amount of cash a buyer will be required to pay at closing by $6,000 for a home purchase of $200,000.

There is only one way to avoid being affected by all of these costly changes that lie ahead - submit all FHA mortgage applications by the last week of March.

If I can answer any questions you may have about how these changes could impact you, call me at 907-529-6602.