Ralph E. Fisher III

If you're a do-it-yourself kind of person who really likes getting your hands dirty, now is a great opportunity to find a piece of St. Louis real estate you can enjoy. As an occasional DIYer myself, I know how hard it can be to find that perfect piece of fixer-upper real estate, but here are a few tips on what to look for:

1. More ground than house - Almost every do-it-yourselfer I've ever met enjoyed puttering in a garden and beautifying a yard. Not only can it be relaxing, but done right it can also up the value of the place if you decide to sell later. Having a beautified yard increase the value of the property is much easier to do if you have a large amount of ground to work with.

2. Expansion possibilities - If it's a small house (or even a large one), estimate how much room there might be for building an extension. Sunrooms, an extra bedroom, widening small rooms - everything is a possibility if you have the land and skills necessary.

3. Wear and tear - While you probably don't want a piece of St. Louis real estate that's falling down around you, a little bit of wear and tear isn't bad. Walls that need to be painted, ceilings that need spackling and little things like this give you plenty of room to get dirty without wiping out your budget. A warning, however. Make sure you get a place with a little wear and tear, not a money pit.

4. Lots of small rooms - Nobody likes a small room. However, if there are a lot of them, you have the option of being able to knock down non-load-bearing walls to expand. The nice thing about this is that you can rearrange the inside of the house to fit you.

5. Sloped ground - While you'll want flat ground around the St. Louis real estate itself, sloped ground farther out is ideal for building rock walls or terraces without having to buy a lot of backfill. Done correctly, terraces can make a beautiful, somewhat inexpensive project. The trick here is to find large rocks from construction sites.

DIY can be a blast and having a house you can turn into a dream house makes the finished product all that more satisfying!

If you're looking for that perfect piece of fixer-up property, I can help. Call me at 314-630-4227 or email me at rfisher@sellshomesfast.com for more information.

Links:

Beautifying a yard http://www.diylife.com/2008/05/28/quick-ways-to-beautify-your-yard/

Building an extension http://www.ehow.com/how_2095914_expand-house.html

Building rock walls or terraces http://www.allanblock.com/RetainingWalls/Newsletter/Contractor/April08/Terraces.aspx?ta=2&product=nl

If you watch the St. Louis real estate market, you probably know it's finally showing a little bit of upswing, with national home sales going up by 2.4% in June. While lower mortgage rates and more affordable home prices, along with an $8,000 tax credit for first time buyers, has made selling a home easier, you may still end up holding on to that house for quite awhile. Instead of selling straight out, consider renting to own.

Called a "rent-to-own" or "lease-option," these deals normally require paying around 5% of the overall purchase price in up-front fees. In addition, buyers are usually required to pay extra rent each month. This is a win-win situation for both the buyer and the seller.

For you as the seller, you have regular rent that goes into your pocket, either to pay down the mortgage you still have on your home or to go toward your new home. In addition, you keep the property profitable as well as get it off the over-stuffed St. Louis real estate market.

For the "rent-to-own" buyer, the additional rent payment knocks down the selling price. Properly drafted, a lease option agreement can help buyers having trouble arranging financing or money for the down payment.

Typically, lease agreements are written in 12 to 36 month increments. If the buyer decides they don't want to buy after all, you can:

a) Put the house back on the market to sell straight out.

b) Put it back on the market as a rent-to-own.

This is also a plus for you, as you can have the contract state that you keep the deposit, as well as the extra rent they have paid.

Don't think this is just for home sellers, either. Many condominiums are offering the option as well. Some developers are even offering to apply 100% of the rent toward the purchase of the condo.

There are some possible drawbacks to this option, but it is something to consider if you're trying to sell your St. Louis real estate and can't get it off the market.

If you'd like to sell your home, I can help. OVER 60% OF MY BUSINESS HAS BEEN SELLING HOMES THAT OTHER AGENTS HAVE NOT BEEN EFFECTIVE IN SELLING. I specialize in solutions that get your home off the market fast and give you the most money in your pocket. Call me now at 314-630-4227 or email me at rfisher@sellshomesfast.com

Links:

Real estate market: link to a page on your website or blog where you talk about your local real estate market or you can link to: http://www.housingpredictor.com/

Lease option agreement http://reiclub.com/articles/lease-option-tips

Condominiums http://leases-and-leasing.lawyers.com/landlord-tenant-law/Renting-or-Leasing-a-Condominium.html

If you're thinking about refinancing your St. Louis home, you might want to think about a few other things first.

1. Are the mortgage rates higher or lower than when you first financed your house? If current mortgage rates are lower, refinancing might be a good idea. If they're higher, however, you should reconsider.

2. Why are you refinancing? If you're trying to get a better mortgage rate, it might be a good idea. However, if you're refinancing to pay off credit cards or go on vacation, not only should your probably not refinance, you probably shouldn't be going on vacation, either.

3. Do you currently have a fixed rate or an adjustable rate mortgage? Since mortgage interest rates are still rising, it might be a good idea to refinance to a fixed rate if your mortgage interest is adjustable. However, if you have a low fixed rate mortgage on your St. Louis home, it probably would be better to stay with it.

4. How much longer do you plan to stay? If you plan to stay in your [city] home for five years or longer, refinancing might be a good idea. However, if you plan on a shorter amount of time, due to the cost of refinancing, you may end up losing money.

5. Do you have the money for refinancing? Refinancing a house costs time and money. The fees for refinancing can be a hefty $3,000 or more, which means you may not save any money for two or three years after refinancing your home.

If you need help refinancing your home or financing a new home, I can help. Call me today at 314-630-4227 or email me at rfisher@sellshomesfast.com for more information.

Links:

Refinancing your St. Louis home

http://finance.yahoo.com/how-to-guide/loans/12821

Current mortgage rates: Link to the page on your website where you have current mortgage rate information or link to http://www.mortgage101.com/articles/dailyratesurvey.asp

Fees for refinancing

http://www.smartmoney.com/personal-finance/real-estate/4-costly-fees-to-watch-out-for-when-refinancing/

As most St. Louis real estate agents will tell you, remodeling, decorating or repairing your home can go a long way towards getting it sold. For that matter, it can add value to your property in case you want to sell later - that is, if you don't choose the wrong places to buy cheap:

Windows - Never buy a window based on which one is cheapest. You want windows that look good, and, as most St. Louis real estate agents will recommend, you want energy-efficient windows. During 2009 and 2010, you may be eligible for a Federal Tax Credit for Energy Efficiency of up to $1500 when you purchase Energy Star windows.

Paint - Paint is one of the biggest places people skimp when it comes to cost, and a big no-no. Cheap paint may take several coats to look right; those several coats can end up leaving blotches and runs. In addition, cheap paint has a tendency to peel or wash off under light cleaning. If you're going to add painting to your remodeling or repair work, quality is always better.

Doors - Whether it's for a shower or a screened-in porch, the door you choose can make all the difference. A rickety shower door falling off the railing is a big "don't buy" sign. While you don't want to blow your whole budget, the doors throughout your house should be of quality material. Likewise, a solid front door adds to the curb appeal and security of your home. Some exterior doors also qualify for the Federal Tax Credit for Energy Efficiency. Find out if your exterior door qualifies for an Energy Star Rebate or Tax Credit.

Flooring - Unless it's expensive carpet on sale, cheap flooring never looks like anything but cheap flooring. Low cost carpet and wood flooring seldom has high durability and is likely to wear out before you're ready to replace it again. Take the time to find quality flooring at a price you can afford - don't go cheap!

Many St. Louis real estate agents will push quality, but the biggest point they'll push these days is - go green! It may not be the cheapest option, but the benefits in efficiency and property value more than make up for the cost.

Want more tips on remodeling or repairing your home? Subscribe to this blog. Two or three times a week, you'll get information like this automatically sent to your email for free.

Links:

Federal Tax Credit for Energy Efficiency

http://www.energystar.gov/index.cfm?c=products.pr_tax_credits

Not too long ago, if you needed windows for your St. Louis home, you got a piece of glass surrounded by wood and that was it. All you had to think about was the size and shape. Now there are more types than you can imagine, from single pane to triple pane, leaded glass to tempered glass. Here's a little clarity on a few of the most popular:

One, Two and Three Pane Windows

A "pane" is a single sheet of glass. In two and three pane windows, there is a gap between the panes filled with an insulating nontoxic gas or air. The more panes, the better insulation, which is the biggest reason homeowners buy the double or triple pane windows. Single pane windows don't have much to say for them anymore, except that they're cheap.

Low "e" Windows

Having low "e", or low emittance windows in your St. Louis home does even more for your heating and cooling costs than simple double or triple panes. They're considered the best energy efficient windows on the market. Although they let in a lot of light, they have the benefit of blocking out a lot of heat. Your heater doesn't have to work overtime keeping your house warm, and the air conditioner doesn't burn out keeping your house cool. From now through 2010, you can also get up to $1500 in a Federal Tax Credit for Energy Efficiency when you purchase qualifying energy efficient windows.

Tempered/ Acrylic Glass

Car windows are one of the most common uses for tempered glass. Tempered glass doesn't shatter if it's broken; it breaks into oval bits instead of shards. If you have kids, this is a great type of window to have because the chances of serious accidents are greatly minimized.

Choosing the right windows should have everything to do with the particular needs of your family. High energy bills might be a good reason to buy low "e" windows, while tempered glass is better for energetic kids and pets. If you're buying windows for your [city] home, make sure you do a little research to get the best results for your money.

If you need help choosing windows for your home, whether you're selling, buying or just upgrading, I can help. Call me at 314-630-4227 or email me at rfisher@sellshomesfast.com .

Links:

Three pane windows http://www.americanvisionwindows.com/triple-pane-windows.htm

Best energy efficient windows http://www.lower-my-energybill.com/low-e-glazing.html