Bob Scherbarth, Associate Broker

Size does matter when it comes to the perception of space in a home. That's why it's important to make sure you show off every square foot of your listing so that buyers can visualize enough room for all of their belongings.

However, home owners often crowd spaces with oversized furniture, bulky accessories, and piles of clutter that wind up making a room look much smaller than what it really is, says staging pro Jennie Norris, president of the International Association of Home Staging Professionals. So how can you show off that space in your listings? Besides the obvious of removing clutter, try these simple ideas from Norris.

1. Scale Down the Furniture: By having too many large pieces of furniture in a small room, a space can feel more cramped, Norris says. Select smaller-scale furniture over large, chunky options. A good choice: furniture with wooden legs or unskirted chairs, so that you can see through the furniture to the floor underneath to open up a room.

2. Beware of Overly Busy Patterns: Too many bold patterns in a room with fabrics and accent pieces can make a room feel smaller, Norris says. Big prints, bold plaids, and large floral patterns can be too busy for a small space. Stick to solids and use texture in fabrics to add interest.

3. Lighten Up: Dark colors absorb the light making small rooms look even smaller. "The general color rule for small spaces is lighter is better," Norris says. Lighter colors on walls - such as creams, light blues, light greens, tan, and soft yellows - help expand the room. Plus, softer, cooler tones are soothing and relaxing, she adds.

4. Add Height: Bring in anything that is tall to show off the height of the space. Whether it's a piece of furniture such as a bookcase or an object like a tall tree, the height of the object will draw the eye upwards. Also in a house where you want to show off the height, hang the curtains above the normal window top level, Norris says. To widen the window, tie the curtains back with a rope tieback to show off the windows.

5. Use the Reflection: Hang mirrors on walls to help add visual space. "When the room is reflected in the mirror, it can make us feel like there is more space as we see 'another room' in the mirror," Norris says. "Mirrors can also reflect light and views, which will help lighten up the room and make it feel open and airy."

Source: Melissa Ditmann Tacey | 2010 |

QUICK FACT #1: What our parents told us was true!

At the height of the housing boom, many borrowers had to stretch to afford a house. In some cases agreeing to spend half their monthly earnings on their home and getting into the mortgage with 100% financing. We all know how that turned out. Now, reducing monthly payments to 31percent is the goal that many financial advisors say is optimal and the amount that is being targeted in the new housing plan to help people who are in mortgage "trouble".

But is that a reasonable goal? And where did that number come from? Its roots may go back more than a century to company towns, where employers would collect a week's wages for a month's rent. In the 1920s, as homeownership became an option for more middle-class families, lenders adopted a similar standard: spend a quarter of a month's income on housing. Though the number has inched up through the years, that general rule of thumb has stuck. I remember my dad advising me early in my college years that my housing costs could not exceed 25% of my pay.... thanks dad, I should have listened to you!

QUICK FACT #2: The 28/36 Rule

Financial planners agree that a figure around 30 percent is not a bad place to start. That usually leaves enough to pay for life's many other costs. Given that the current economic crisis has turned a lot of financial assumptions on their head, it is probably wise to rethink how much of your income should go toward servicing the large debt that is truly homeownership. Here is where the old standard known as the "28/36 rule" comes in to play. Using that rule, households should spend no more than 28 percent of their gross income on housing costs - including mortgage payments, property taxes and insurance - and less than 36 percent on all debt. The total includes obligations like car payments, student loans, credit cards and medical debt.

QUICK FACT #3: Now is the right time to revisit some of the lessons our parents and grandparents learned long ago.

HOW MUCH CAN I AFFORD? Your housing budget depends on your situation and priorities. One exercise I remember from school involves simple math and planning. Write down all of your expenses. Break them down into expenses that are fixed (utilities, groceries, auto expenses, insurance, etc.) and variable (everything else). Now, look at the variable costs...what am I willing to give up that could be reallocated toward housing?

DO THE MATH Before you start hitting open houses, sketch out a rough budget based on the 28 percent rule of thumb, using a simple mortgage calculator.

DOWN PAYMENT Currently, many consumers have no choice but to make a sizable down payment. If you do not, or cannot, it will cost you dearly in the form of a higher interest rate or fees. FHA is a great option and most times will have lower interest rates and lower down payment requirements for homes under $271,000.

TAXES Consider the tax savings associated with buying a home, but do not use it as an excuse to buy more than you can afford. Property taxes and mortgage interest are generally tax-deductible, but only if you itemize your deductions. Itemizing makes sense when your individual deductions exceed the standard deduction, which is $11,400 for married people filing jointly in 2009.

RESERVES Ideally, homeowners should have six months of net pay in the bank. But if you halve that figure and save three months of your take-home pay that generally translates into eight months of payments. That does not account for food and other necessities, but it does provide some cushion.

Compliments of Century 21 New Millennium's Dare to Compare Team. www.DareToCompareTeam.com

$8000 Federal Tax Rebate

We have news to tell....the home buyer tax credit has been extended and expanded!

First-time home buyers and move-up buyers have another great reason to get on the path to purchasing a new home! The benefit to first-time homebuyers is a tax credit up to $8,000 and for move-up buyers a tax credit up to $6,500. But this opportunity ends in April.

• Between November 7, 2009 and April 30, 2010, homebuyers that have a signed binding contract to purchase a home may be eligible for the tax credit. The transaction must close no more than 60 days after April 30, 2010.
• First-time homebuyers may receive a credit of 10 percent of the purchase price, up to the $8,000 tax credit amount. If you have never owned a home before or have not owned a principal residence in the last three years, you are considered a first-time homebuyer.
• For home-owners, a tax credit of $6,500 is available for homeowners who have lived in their current residence for at least five of the past eight years. Homebuyers can also receive a 10 percent credit up to $6,500 when they contract to purchase a home between now and April 30, 2010, provided they close no more than 60 days after this deadline.

The tax credit does not have to be repaid provided you live in the new home for a minimum of three years. Military families are exempt from this stipulation.

If you would like to know if you qualify- give us a call at 703-424-7613 or email us at DareToCompareTeam@gmail.com