Bruce Swedal, Metro Denver Real Estate

In the midst of the crisis in the real estate market it seems that most people have lost the whole idea of why they wanted a home in the first place. A home is a place where you put down roots, raise a family, and grow old in a community where people know you. Or that is what a home used to be. Now it seems that too many people are concerned about the monetary value of their home rather than the intrinsic value and in some ways that is understandable and in others it seems that we have lost something more during this economic crisis than just the monetary value off what a home would sell for on the open market.

One needs to remember that part of the problems facing the real estate today was caused by greed. The greed of people who wanted to own a house that was far above their financial means and the greed of bankers who were willing to not look too closely into whether these people really had the means to afford the homes they set their sights on. These people were not buying a home they were buying an investment that they thought they would live in for a few years and then sell for a nice tidy profit. Some of these people even used their homes as their own ATM machine exchanging their equity in their home for cash to buy toys, go on expensive vacations, and other such things. Then, the housing market went belly up and home values fell and they were left owing more on the mortgages than their house was valued for.

Now these people are crying at the unfairness of it all, but, what about the homeowner who worked and saved for that down payment and then chose a house that he could afford and made his payments, and finally owns his own home. His home value went down as well, but these people for the most part are not complaining and in fact, many of them have paid no attention to the fact that their homes are now valued at 1/3 less than they were a few years ago. Why? Because these people were not investing their money in a house. They were buying a home. And no matter what happened or will happen to the real estate market these people own something they consider far more valuable than a house to live in and sell a few years down the road for a profit. They own a home.

And some areas have more underwater mortgages than others. In Phoenix 66% of the homeowners are paying mortgages in excess of their homes worth, While in Atlanta the rate is 58.7% of homeowners who are underwater and Tampa stands at 56.5% of mortgages that are higher than the value of the homes. All of these homes are considered high risk for foreclosure not because the mortgages aren't being paid, but because of the likelihood that the homeowners will simply give up the struggle deciding the sacrifices they are making to pay the mortgage simply won't be worth it in the long run.

It doesn't make sense that it is 2012, the housing market is still down and people are still angry over those people who make a profit buying a house doing a few simple repairs (or not) then selling it days or weeks later at a profit. While the house flipping has gone on a very long time it seems to be a hot subject for many people. Some even feel the act of house flipping is shady. But actually, house flipping can have some benefits for many people other that the people who make money off these house flipping deals.

For starters the neighborhood where the purchase and sold house stands certainly benefits. Any neighborhood is dragged down by a house that has an unkempt lawn, peeling paint, and a general air of abandonment. Potential home buyers won't buy it finding it unattractive and these empty houses are a beacon to mischievous kids who may want to explore and in the end may do real damage to the property.

Now along comes a house flipper who after inspecting the home decides it only needs a few minor cosmetic repairs. He buys it dirt cheap mows the lawn, trims the trees and bushes, Plants a few flowers, paints the entire house inside and out, and replaces a couple of faucets and maybe a light switch here and there and then sells the house for several thousand more than he purchased it for. By fixing up the house and increasing it's value it improves the value of all the homes surrounding it. Buyers get a home that is in good condition, the temptation for neighborhood kids to explore the now occupied house is removed, and the real estate company made two home sales within a very short period of time.

This all appears to be a win/win/win situation for all concerned. What is so shady or underhanded about that? While in some cases investors do flip homes for a fast profit without doing any property improvements this is really the exception rather than the rule. In most cases house flippers do choose homes that only need small cosmetic improvement to increase their profits, but if these improvements increase the potential value of the property and make it more attractive to potential buyers, then why would anyone have a problem with that? After all no one is forcing buyers to buy the property and the house flipper is taking the risk that he may get stuck with the property for a considerable length of time.

There are many benefits being a first-time home buyer with all the new regulations and rules plus help from the government. With the economy the way it is today the housing market is considered a "buyer's market." What this means is that there are many houses on the market from which buyers can choose. With this type of market, there are both good points and bad points. The one good point for buyers is that with a buyer's market the prices of house are lower, which means that buyers may be able to get a house that they would not ordinarily be able to afford in any other type of market. On the flip side, the bad point is that with so many houses to choose from, it makes it hard for the buyer to make a decision as to which one they want to purchase.

With so many houses to choose from, it is best for the buyers to make a list of what they are looking for in a home and try to only look at houses that have what you are looking for. The buyer should not look at more than three or four houses at a time because any more than that can be overwhelming. As you are looking through the houses, take notes of what you like about the house and what you do not like so you can do a comparison of the houses when you are back at your current home.

If you do not have a lot of money, there are many types of loans out there for first time home buyers. When you make the decision to purchase a home get with a real estate agent or talk to you bank about the various programs or loans that you may be eligible for. Once you have that list, make sure that you submit your applications so you will know what type of financing you can get and how much you will get. There are FHA home loans, if you are a veteran you can apply for a VA home loan, and there are many others. in addition, there are various loan and government programs to help first-time home buyers.

These are just some of the many benefits that a first-time home buyer can take advantage of and to find out more you can go online and do a search. If you are considering buying your first home, now is the time to do buy.

For those ready to sell their home and eager to put their home on the market, first they should step back and take a deep breath. Now, reflect whether you are ready to put the home on the market and this means not personally ready, but is the house ready? Has it been cleaned, repairs been made, organized and basically ready to put on the show its life? This is something that the seller has to consider, and is one of the biggest mistakes that people make when they are in the process of selling their home. They get ahead of themselves and simply jump in. When a person does this they are going to find that it may be harder to sell their home since they did not put in the time to present it at its best before putting it on the market. Though this is a common mistake, it is by far not the only mistake that sellers are making that can jeopardize whether they sell their home or not.

Another mistake that sellers make is that they upgrade the home too much in hopes of getting a greater return. However, in doing this they will find that buyers notice how the home does not reflect the neighborhoods characteristics and this can make them hesitate to buy since the home stands out from the neighbors.

Those that have a home that has some problems with it, should make sure that they disclose these problems. Many sellers think that they should not have to do this, however, they will find that in most states this is a law and if the person is found to be lying about something or not disclosing it when they knew it was a problem, then they are going to find that they can be sued later on, which is a place that no home seller wants to find themselves in later down the road.

Of course, another mistake that sellers make is getting emotionally attached to the sale, making it harder to let go of the home. This is something that the individual must simply realize that they cannot do and that they should step away from. They have to put the house above the connection that they have to it and realize that it is just a house, they can make a home in another location.

Getting past these mistakes that sellers commonly make will make it much easier for the person to sell the home and get a fair price out of the sale.

Having your home appraised can cause a bit of anxiety for homeowners. If the appraisal is for opening a second mortgage or selling there are small things that can be done to improve the appearance of your home that don't require tearing down the walls. The outside of your home makes the first impression on an appraiser and a well manicured lawn does so much to improve the look of your home.

Choose plants that add interest and compliment the physical structure of your home. If you have a Mediterranean style home using tropical plants to tie together the feel of your home and increasing the value of your real estate. Garden centers have a variety of plants that are suitable for your region and that will complement your home. Think of colors and themes that are consistent. You can choose monochromatic for a bold dramatic modern statement or use swatches of colors and plants to add more interest to your real estate.

If you have a cottage style home use wildflowers of various colors and types. Choose plants that bloom at different times so that there is always something blooming year round. Homes that have a unified appearance of structure and accents look better maintained, and can increase the value of the house in the eyes of the auditor as well as the buyer. Making your best impression the first time can help insure that your real estate is valued at the highest possible value.

Maintenance is important, if you spend the money, time and effort to have a professional landscaper come and landscape your home try and get someone that is more than a mow and blow guy. They rarely care for the plants, spending a bit of extra money may actually go a long way in this case. A landscape designer can help you to put things into order as far as placement and design, but for maintenance you will need to hire someone else. Ask neighbors for recommendations, and often you will find business cards posted at garden center announcement boards.

Having well manicured grass is nice, but to make the best possible impression add other plants and flowers to help tie in your yard with your property. Real estate values are mostly market based, but doing simple thing to improve appearances can make a great impact on the final value.