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Mark Gipple

Top 5 Tips for Buying a Foreclosure: Written by Certified Foreclosure Resource serving Lee's Summit, MO

02-24-12
Mark Gipple

Lee's Summit, MO Certified Foreclosure Resource Mark Gipple shares the top tips for home buyers looking to buy a foreclosure.

1. Be prepared for competition. Experts reports that foreclosures sold for an average of 27% below non-foreclosed property in 2011. Naturally, most Lee's Summit home buyers are looking to get the biggest bang for their buck, and foreclosures are a popular option. Buyers in today's market are also competing with investors who are looking to flip properties or rent them out. So far this year in Lee's Summit, the foreclosures that are priced the most aggressivly and are in the best condition are under contract within the first 14 days on market, and often there are multiple buyer bids on a home.

2. Have your financing in order before you begin your home search. Once you locate the Lee's Summit home you are interested in buying, it is likely too late to get your financing in place. You can't afford to waste time because competition is so fierce when buying a foreclosure. If you need a loan, meet with a reputable lender and get full loan approval- not just preapproval based on an online application, but submit your documents and send it through underwriting. If you are a cash buyer, have a letter of proof of funds available on a few hour's notice. These steps can give you an edge over other buyers in a multiple bid situation.



3. Make sure you factor in repair costs. Foreclosures are sold in AS-IS condition. Keep in mind that a $200,000 house with $50,000 in needed repairs is the same overall cost as a $250,000 move-in ready home... and a lot less headache.

4. Have a professional home inspection. I highly reccommend performing a thorough home inspection so you know what you are getting yourself into when buying a foreclosure. If you suspect there are problems with a certain area of the home, for instance an old HVAC unit, have a licensed professional in that trade do a specific inspection on that area. Your inspection period is an excellent time to have skilled professionals give estimates for repair too. When buying a foreclosure, it is critical that you comply with your inspection time frames, which generally give you 7-10 days after an accepted contract to conduct all inspections. This may be your only opportunity to get out of the purchase contract if you find out the condition of the foreclosed home in Lee's Summit is worse than you initially thought.

5. Just because it's a foreclosure doesn't necessarily mean it's a deal. There are many factors that influence the value of a home, including the desirablity of the community and school district, how many houses are for sale in the neighborhood, and how many foreclosures are there in the area. It's important to look at the big picture when deciding if a foreclosed home is a “good deal”.

If you or someone you know is in the market for a home and might consider working with a real estate agent and Realtor in Lee's Summit who focuses on foreclosures, contact The Mark Gipple Team today at 816-875-6250 or via e-mail at inquiry@interestedhomebuyer.com. Additional information is available at my website, http://www.welcometokc.com, where you can search all Lee's Summit foreclosures for free, and it is updated daily.



Let us aggressively represent you in finding and negotiating on your next home. There is never a cost to buyers for our services.

Mark Gipple
Keller Williams Realty
Certified Short Sales and Foreclosure Resource (SFR)
Certified Equator Platinum Certified for Foreclosures and Short Sales

Search All Homes For Sale
Mark Gipple
Keller Williams Realty
816-875-6250
Inquiry@InterestedHomeBuyer.com

Raymore Foreclosures For Sale - www.RaymoreForeclosures.com

02-04-12
Mark Gipple

Raymore Foreclosures For Sale - www.RaymoreForeclosures.com

Raymore, MO: Buyers interested in purchasing Raymore Foreclosures For Sale homes and need to know which Raymore Homes For Sale are Foreclosures can go to www.RaymoreForeclosures.com for all Foreclosed Homes that are currently for sale. RaymoreForeclosures.com is updated daily so buyers will want to check back on a daily basis for new foreclosed homes for sale that hit the market.

Raymore Foreclosures For SaleBuyers who prefer to immediately notified when Raymore Foreclosures For Sale are just listed and become available for purchase can also send an e-mail to Inquiry@InterestedHomeBuyer.com and request to be set up on automatic email notification. Buyers should include a list of home features that are important to them such as price range, number of bedrooms, bathrooms, etc... so a custom search can be established just for them.

At anytime, there are usually anywhere from 10 to 25 Raymore Foreclosures For Sale listed on RaymoreForeclosures.com.

Raymore Foreclosures For Sale

If a buyer is also interested in homes that are not Raymore Foreclosures For Sale, they can www.WelcomeToKC.com, which includes over 18,000 homes for sale across the Kansas City metro including Foreclosures for sale, Short Sales For sale, HUD Homes For Sale (HUD Owned Homes), Government Homes For Sale and Private Owner Owned Homes For Sale.

Raymore Foreclosures For SaleTo access literally hundreds of Foreclosures For Sale across the Kansas City metro, including Raymore, www.WelcomeToKC.com has those listed and categorized for easy search.

Both www.RaymoreForeclosures.com and www.WelcomeToKC.com are FREE to use.

For buyers who wish to tour a home they have found online, please contact me, Mark Gipple of Keller Williams Realty, at 816-875-6250 or Inquiry@InterestedHomeBuyer.com to set up a time to tour your Raymore Foreclosures For Sale Home.

Preparing My House to Sell~ How to Stage My Kansas City Area House for Sale~ Tips From a Local Home Staging Expert!

11-03-11
Mark Gipple

"A Dozen (or so) Quick Fixes & Short-cuts
for Preparing a Home For Sale"
 

 

Crusty stove burner plates.
FIX: Replacements are cheap and look good for showings; keep the old crusty ones to switch out before cooking!
 
Worn out or dated cabinet pulls.
FIX: If replacing the cabinet pulls in the kitchen but not in a secondary bathroom, re-use the less-worn old kitchen pulls in the bathroom!
 
Dingy bathroom floor tile grout.
FIX: Use a scrub brush and Comet—it’ll look as close as it can to new again!
 
Scratched or worn wood trim and cabinetry.
FIX: Forget the temporary fix of Old English Scratch Cover. Pick up a can of Restore-N-Finish at Home Depot (paint department) and wipe on a permanent fix!  
 
Dog’s nose prints or toddler’s hand prints on the front door glass.
FIX: Keep the door closed!
 
Dusty silk trees and greenery.
FIX: Take it outside, aim the leaf blower on it and power on. OR, turn it over onto the lawn and drag it back and forth a few times!
 
Nowhere to quickly stash papers before a showing.
FIX: Empty a kitchen drawer or cabinet shelf for daily items!
 
Broken clip for cover of wood blinds.
FIX: Re-attach with self-adhesive Velcro.
 
Ugly cords.
FIX: Find a basket, stash the cords inside, cover with silk greenery.
 
Wet bath towels hanging everywhere.
FIX: Hang decorative towels, don’t use them, then toss wet towels into the dryer for 20 minutes (if everyone uses a different color towel it’s easier to identify them later)!
 
In the process of getting rid of things.
FIX: Use your car trunk to store items that will be taken to charity. Take a photo and itemize the write-off later. Better yet, haul the stuff to the curb and let neighbors put it to good use!
 
Bathroom mirror with worn silver backing.
FIX: Attach wood trim or carefully spray "frosted glass" over the worn area after taping off for a clean line.
 
Keeping up with clean bathrooms for showings.
FIX: Everyone use one shower, preferably one with a shower curtain (you don’t have to squeegee a shower curtain)! (Also, Kaboom is an excellent soap scum remover.)
 
Smudges on the wall paint.
FIX: While Mister Clean Magic Eraser can be a miracle-worker, it can also take off the paint.  Apply a little Baking Soda with a wet white cloth and gently…gently… rub off the smudge (test, first, on a hidden space).  Don’t forget to rinse away the powdery residue!
 
Cottage-cheese ceiling has an old water stain.
FIX: Pick up a can of Kilz Upshotz, which is the same color as the ceiling spray (be sure to protect the wall paint if the stain is on an edge)!
 
Broken floor tile.
FIX: If no replacement tile exists, remove one from a place that is typically covered, such as beneath a refrigerator. 
 
Nail holes in the wall.
FIX: Reduce the size of the fix by patching the hole with a dollop of spackling mixed with the wall paint (scoop out the dollop with a toothpick)!
 
Meanwhile, keep telling yourself, “This will all be over soon… this will all be over soon…”
 
Let me know how I can make your life easier—I stage existing furnishings often in two hours or less!
   

Cynthia Black (aka “The House Whisperer”)

HomeStaging by Cynthia, Inc.

816-444-5352

www.HomeStagingByC.com

"Over 4,500 Homes Staged since 1999...because the Way We Live in our Home is Different From the Way We Sell our Home."

 

Search All Homes For Sale
Free List of Foreclosed Homes For Sale
Mark Gipple
Keller Williams Realty
816-246-3434
gipple@comcast.net

Preparing My House to Sell~ How to Stage My Lee's Summit, MO House for Sale~ Tips From a Local Home Staging Expert!

11-03-11
Mark Gipple

"A Dozen (or so) Quick Fixes & Short-cuts
for Preparing a Home For Sale"
 
 
Crusty stove burner plates.
FIX: Replacements are cheap and look good for showings; keep the old crusty ones to switch out before cooking!
 
Worn out or dated cabinet pulls.
FIX: If replacing the cabinet pulls in the kitchen but not in a secondary bathroom, re-use the less-worn old kitchen pulls in the bathroom!
 
Dingy bathroom floor tile grout.
FIX: Use a scrub brush and Comet—it’ll look as close as it can to new again!
 
Scratched or worn wood trim and cabinetry.
FIX: Forget the temporary fix of Old English Scratch Cover. Pick up a can of Restore-N-Finish at Home Depot (paint department) and wipe on a permanent fix!  
 
Dog’s nose prints or toddler’s hand prints on the front door glass.
FIX: Keep the door closed!
 
Dusty silk trees and greenery.
FIX: Take it outside, aim the leaf blower on it and power on. OR, turn it over onto the lawn and drag it back and forth a few times!
 
Nowhere to quickly stash papers before a showing.
FIX: Empty a kitchen drawer or cabinet shelf for daily items!
 
Broken clip for cover of wood blinds.
FIX: Re-attach with self-adhesive Velcro.
 
Ugly cords.
FIX: Find a basket, stash the cords inside, cover with silk greenery.
 
Wet bath towels hanging everywhere.
FIX: Hang decorative towels, don’t use them, then toss wet towels into the dryer for 20 minutes (if everyone uses a different color towel it’s easier to identify them later)!
 
In the process of getting rid of things.
FIX: Use your car trunk to store items that will be taken to charity. Take a photo and itemize the write-off later. Better yet, haul the stuff to the curb and let neighbors put it to good use!
 
Bathroom mirror with worn silver backing.
FIX: Attach wood trim or carefully spray "frosted glass" over the worn area after taping off for a clean line.
 
Keeping up with clean bathrooms for showings.
FIX: Everyone use one shower, preferably one with a shower curtain (you don’t have to squeegee a shower curtain)! (Also, Kaboom is an excellent soap scum remover.)
 
Smudges on the wall paint.
FIX: While Mister Clean Magic Eraser can be a miracle-worker, it can also take off the paint.  Apply a little Baking Soda with a wet white cloth and gently…gently… rub off the smudge (test, first, on a hidden space).  Don’t forget to rinse away the powdery residue!
 
Cottage-cheese ceiling has an old water stain.
FIX: Pick up a can of Kilz Upshotz, which is the same color as the ceiling spray (be sure to protect the wall paint if the stain is on an edge)!
 
Broken floor tile.
FIX: If no replacement tile exists, remove one from a place that is typically covered, such as beneath a refrigerator. 
 
Nail holes in the wall.
FIX: Reduce the size of the fix by patching the hole with a dollop of spackling mixed with the wall paint (scoop out the dollop with a toothpick)!
 
Meanwhile, keep telling yourself, “This will all be over soon… this will all be over soon…”
 
Let me know how I can make your life easier—I stage existing furnishings often in two hours or less!
   

Cynthia Black (aka “The House Whisperer”)

HomeStaging by Cynthia, Inc.

816-444-5352

www.HomeStagingByC.com

"Over 4,500 Homes Staged since 1999...because the Way We Live in our Home is Different From the Way We Sell our Home."

Search All Homes For Sale
Free List of Foreclosed Homes For Sale
Mark Gipple
Keller Williams Realty
816-246-3434
gipple@comcast.net

Kansas City Home Values~ Will Adding a 4th Bedroom Increase the Value of My KC Area Home?

09-28-11
Mark Gipple

Earlier this month, a Zillow user in the Kansas City MO area asked how adding a 4th bedroom would affect the value of his home.


Question:

We have a finished basement with full bath and full kitchen and own entry. Our house sits on 10 acres and is 3300 square feet. We can add a fourth bedroom with egress doing the work ourselves for about $3000 and use a space that is unused. Will this add value?


Team Gipple Response:

Value can be expressed a couple different ways- A sheer increase in property value as reflected on an appraisal OR increased value in terms of the marketability of your home should you sell it.

Of course, an appraisal is very statistic-driven, looking at such features of a home as neighborhood sales data, number of bedrooms and bathrooms, finished square footage, etc. As a realtor, I will speak to the value which comes from marketability, or in other words will a 4th bedroom make your home more valuable/desirable to potential home buyers? In my experience, buyers often favor a home that has 4 or more bedrooms. Not only do you appeal to buyers that need the extra bedroom to accommodate their family, but oftentimes buyers seek an extra bedroom that can be used as a guest room, home office, playroom or exercise room.

With the set-up you described in your lower level (full bath, full kitchen, separate entry), I think a 4th bedroom might be a particular asset, as it could be marketed as a suite- for perhaps a teenager or in-laws.

Just be cautious that you do not finish all your extra storage space- buyers love that too!