In a 2006 study of home buyers and sellers conducted by the National Association of REALTORS® it was found that buyers rated neighborhood quality as the number one factor in purchasing a home. So what if your neighborhood lacks a little (or a lot) to be desired? Check out this quick list of ideas compiled by Trish a REALTOR® from Mississippi:

Cleaning Up the Neighborhood

Strike a Deal - If your neighbor's homes are dragging your listing down why not spring for a landscaper to give their yard a makeover? Why pay for a neighbors yard to be improved? So you can sell your home for top dollar!

Call the City or Chamber of Commerce - Ask them if they are any neighborhood clean up programs available. Many volunteer organizations pick an area each month to clean or improve. Why not your neighborhood?

Team Up - If there are other homeowners attempting to sell their homes in the neighborhood why not team up to tackle the problem? A combined effort over one weekend - picking up trash, cleaning out storm drains, or painting over graffiti could inspire others to follow your lead.

Item number 3 in my last blog post mentioned appraisals. Thought this post might help to expand on this very important issue.

1. It's an objective opinion of value, but it's not an exact science so appraisals may differ.

2. For buying and selling purposes, appraisals are usually based on market value-what the property could probably be sold for. Other types of value include insurance value, replacement value, and assessed value for property tax purposes.

3. Appraised value is not a constant number. Changes in market conditions can dramatically alter appraised value.

4. Appraised value doesn't consider special considerations, like the need to sell rapidly.

5. Lenders usually use either the appraised value or the sale price, whichever is less, to determine the amount of the mortgage they will offer.

Used with permission from Kim Daugherty, Real Estate Checklists and Systems (http://www.realestatechecklists.com).

1. Don’t Just Show Your Home – Show It Off

Like it or not, your home is competing with many more homes in the area. Buyers buy on emotion, not rationale; therefore, even the savviest marketing program in the world can only bring lots of buyers into your home – it can't make them WANT the home. A motivated seller will do everything possible to promote the property’s strengths. For suggestions, see our "How to Show Your Home" flyer.

2. Commit to a Long-Term Listing Only with a Performance-Specific Guarantee

Don't rely on verbal promises. Make sure that when you enter into a listing agreement, you receive a written guarantee of performance, with the option to cancel without charge if those standards are not met. Otherwise, any vague language may result in a performance dispute that will only end up hobbling your sale in the long run.

3. Obtain a Lender Appraisal Before Listing the Property

How would you feel if your home sold for $150,000, only find out from the bank appraiser that it was worth $175,000? In today's real estate market, this happens more often than you’d think. Eventually, your home will have to be appraised by a state licensed bank appraiser anyway. Why risk losing several extra thousands of dollars in your pocket?

4. Insider Secret

Buyers are afraid of paying too much for a house. That's why they often make low offers. A certified bank appraisal helps you sell for full price because the buyer can see that the price was established by a professional third party.

5. Secure Financing Terms and Commitment for Potential Buyers

Before you can consider deeming any buyer as “serious”, you should obtain a pre-approval letter from the lender before taking the time and effort to start the process. After all, what could be more heartbreaking than believing you’ve sold your house, only to find out the buyer is not in the financial position he represented?

One of the many details affecting a smooth real estate transaction is the transfer of important information. The following list is just a few of the actions that could make this very exciting process a good memory or a bad one. A good Realtor understands the details and makes sure these items are handled in a professional manner.

1. Owner's manuals for items left in the house.

2. Warranties for any items left in the house.

3. A list of local service providers-the best dry cleaner, yard service, etc.

4. Garage door opener.

5. Extra sets of house keys.

6. Code to burglar alarm and phone number of monitoring service if not discontinued.

Buyers and Sellers have a tendancy to view a real estate transaction in simple steps. i.e. Buy side-look for a home, make an offer, get a loan, close, move in. Well, this view make work for senior level executive summary, however, as we all know the devil is in the details. The following are just some of the many issues that an experienced Realtor deals with on a daliy basis.

1. A real estate transaction is complicated. In most cases, buying or selling a home requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multi-page government-mandated settlement statements. A knowledgeable guide through this complexity can help you avoid delays or costly mistakes.
2. Selling or buying a home is time consuming. Even in a strong market, homes in our area stay on the market for an average of 100 days. And it usually takes another 60 days or so for the transaction to close after an offer is accepted.
3. Real estate has its own language. If you don’t know a CMA from a PUD, you can understand why it’s important to work with someone who speaks that language.
4. REALTORS© have done it before. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. And even if you’ve done it before, laws and regulations change. That’s why having an expert on your side is critical.
5. REALTORS© provide objectivity. Since a home often symbolizes family, rest, and security, not just four walls and roof, home selling or buying is often a very emotional undertaking. And for most people, a home is the biggest purchase they’ll ever make. Having a concerned, but objective, third party helps you keep focused on both the business and emotional issues most important to you.
6. REALTORS© are members of the NATIONAL ASSOCIATION OF REALTORS©, a trade organization of more than 1 million members nationwide. REALTORS© subscribe to a stringent code of ethics that helps guarantee the highest level of service and integrity.