Rosemary West

Pricing Your Home to Sell

Most homeowners have an emotional connection to their home and, understandably, feel it deserves top dollar when sold. But even though everyone wants to get the most money for their home, especially in today's challenging economic times, decisions made regarding the listing price cannot be made in haste. All too often, listing your home at a price that is too high can cause it to languish on the market and wind up selling at a lower price than would have been realized had it been priced properly in the first place.

To help foster maximum profits for your home, here are several suggestions for establishing a fair, competitive and marketable sale price:

- Square footage - Total square footage is an important consideration when establishing a home's sale price, but this is usually just a starting point for buyers who will use it to narrow down the field, but make an actual purchase decision based on many other factors.

- Location within the community - Quiet cul-de sacs, golf or water frontage, lots that offer privacy, etc. are value-adds that can justify a higher sale price over other homes in a community.or be leveraged as an advantage against competing listings.

- Views ... or lack thereof - Whether it is the ocean, a downtown skyline, the mountains, water or some other desirable landscape, buyers are willing to pay a premium for views and a home should be priced accordingly. Just be realistic - views that can only be seen from the second-story bathroom window don't count.

- Upgrades and features - For a home to sell quickly at the desired price, it must be "finished" with as many structural and interior design upgrades as possible. Any functional or beautification enhancement to a home are key considerations in establishing a home's true value and strategic sale price.

- Community amenities - Guard-gated communities or those with amenities such as a clubhouse, swimming pool or fitness center are elements that raise a home's price per square foot. When pricing a home without these benefits, know whether you are competing against other homes that do offer such value-adds so that you can price your home as aggressively and competitively as possible.

- Comparable sales - Don't price your home based on price per square footage of other home sales in your community six or more months ago, as these don't offer a realistic portrayal of current market conditions. Focus on prices of active listings to hone a competitive pricing strategy.

- Professional appraisal - Want to sell the home quickly? Price it at or below the appraised value as buyers are educated, are shopping deals, and will recognize your fair price and be more apt to pay it with less haggling.

- Current mortgage conditions - Lenders now require higher credit scores and higher down payments, which can cash-strap buyers holding out for the best deal possible. Savvy sellers will understand the mortgage industry's impact on the buyer and will price accordingly.

There are several other factors involved in choosing the right listing price for your property. Top 5 in Real Estate Members are experienced in reviewing the specifics of a home in order to arrive at the best possible price. A price that maximizes profits and moves your home off the market before price reductions become necessary. Please click here <mailto:rosemarywest1@comcast.net?subject=Top 5 RE Social Networking System

Inquiry> to email for further details and feel free to forward this

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to members of your social network who may also benefit from this information.

Sincerely,

Rosemary

Rosemary West

RE/MAX of Joliet

Rosemary's Assistant

rosemarywest5@comcast.net

<http:www.rosemarywestteam.com//>

As a leader in real estate, I am repeatedly asked specific questions about today's market - especially in today's economy. In an effort to provide more information to my community, I am sending you this Top 5 Real Estate Social Networking System^sm "e-Article," in which I provide useful real estate information to my real estate networks. If you find the enclosed information beneficial to your family and friends, I encourage you to forward it to your "social network" as well.

How to Lower Your Property Taxes

Thanks to recent declines in home values, it's 60% more likely that your property taxes are too high, says the American Homeowners Association (AHA). The problem stems from the fact that property values have fallen unevenly across neighborhoods, towns and regions. As a result, you may be receiving an unfairly high assessment compared to other homes in your area.

As a Member of the Top 5 in Real Estate Network®, I am often asked if property taxes can be lowered. Fortunately, there are ways to find out if you are being overcharged and steps you can take to get your property taxes lowered. Here are some steps to follow:

1. To make sure, you're paying the right amount, get your detailed property tax assessment record online or from your assessor's office. It's possible your entire neighborhood has been over assessed.

2. To that end, check with a real estate agent to get a solid understanding of what homes are currently selling for in your community. I can provide you with a detailed analysis of recent and comparable sales.

3. Also check the accuracy of the details about your home used in your tax assessment. Determine if your property's size and description are accurate. There's a good chance that errors were made in transferring data from paper to online.

4. Make sure details like the number of bedrooms and bathrooms are correct on your assessment and that any defects that could affect the value of your home-such as a leaky roof or cracked wall-are noted.

5. If errors have made your assessment higher than it should be, try working informally with the assessor rather than going through a formal appeal process.

6. If the correction cannot be made informally, you'll need to make a formal appeal. There may even be a process for appealing your taxes online. Keep in mind that there is usually a narrow window of opportunity in which to file an appeal. Some jurisdictions set aside a time every year to hear appeals, while others only consider appeals for a few months after your house has been reassessed, which is often not every year. Find out exactly how much time you have to prepare your case.

7. Make sure you file good documentation, such as an appraisal or letter from the original assessor. Without this, the likelihood of your appeal being considered is slim.

8. Depending on your municipality, you might also be eligible for property-tax exemptions, which range from senior citizen and active-duty military exemptions to ones for those who own livestock.

Please email me for more information on appealing your property taxes. I can provide important insight into current property values in our area and help you determine if you are potentially being overcharged. Also, if you feel this information might also be of use to your family, friends and colleagues, please forward this email to them.

Sincerely,

Rosemary

Rosemary West
RE/MAX of Joliet
Rosemarywest1@comcast.net
www.RosemaryWestTeam.com

Rosemary West Earns Prestigious Designation to Help Homeowners in Danger of Foreclosure

DuPage, Grundy, Will and Kendall Counties- August 18,2009- Rosemary West of RE/MAX across th Western Suburb of Chicago has earned the prestigious Certified Distressed Property Expert^® (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. At a time when millions of homeowners are struggling with the possibility of foreclosure, the skills and education accumulated by West will help benefit Western Suburbs of Chicago area communities.

Short sales allow the distressed homeowner to repay the mortgage at the price that the home sells for, even if it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

In the Chicago Land Markey Place, thousands of homes are in danger of foreclosure. It is happening across all price ranges, and the fastest-growing category of homes entering foreclosure is luxury homes in excess of $1 million.

“The CDPE designation has been invaluable as I work with homeowners and lenders on complicated short sales,” said West. “It is so rewarding to be able to help families save their homes from foreclosure.”

Alex Charfen, co-founder and CEO of the Distressed Property Institute in Austin, Texas, said that agents such as Rosemary West with the CDPE Designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which can virtually destroy a credit rating. “These experts also better understand market conditions and can help sellers through the emotional experience,” he said.

The Distressed Property Institute provides live and online courses to train real estate professionals how to help homeowners in distress, with a particular emphasis on handling short sales.

“Our goal is to help as many homeowners as possible, by educating as many real estate professionals as possible,” Charfen said. “Rosemary West has demonstrated a commitment to the struggling homeowners in the Chicago Land Area, and will provide much-needed assistance in stabilizing the community.”

For more information about CDPE Designation, visit www.cdpe.com, or www.RosemaryWestTeam.com for information about possible options for homeowners in distress.

Rosemary West

RE/MAX of Joliet

Email: RosemaryWest1@Comcast.net

Website: www.RosemaryWestTeam.com

Facebook : http://www.facebook.com/home.php?#/rosemary.west

As a leader in real estate, I am repeatedly asked specific questions about today's market - especially in today's economy. In an effort to provide more information to my community, I am sending you this Top 5 Real Estate Social Networking System^sm “e-Article,” in which I provide useful real estate information to my real estate networks. If you find the enclosed information beneficial to your family and friends, I encourage you to forward it to your “social network" as well.

Quick Ways to Make Your Home Stand Out from the Competition

You may be hearing more about “staging” your home before putting it on the market for sale, but according to Melissa Birdsong, vice president for Trend, Design and Brand for Lowe’s (www.lowes.com), “refreshing” your home will really help set it apart from the others—and that’s critically important in today’s buyer’s market.

Buyers look at a lot of homes, so I am frequently asked for ways homeowners can make their home stand apart from the rest on the market. While having a well-staged home is now the rule rather than the exception for a faster sell and a better price, Birdsong suggests thinking beyond the obvious for ways to make your entire home feel updated and inspired. Here are her recommendations for quick ways to refresh:

- A fresh coat of paint on worn walls provides a “wow” factor without excessive cost or effort. While this isn’t new news, something that tends to get overlooked (and can have just as much impact) is painting the trim and other accents that may have gotten scuffed or dingy over the years. Freshly painted trim work is cleaner and a healthy home environment is very appealing to buyers.

- Hardware is a quick fix as well. Switching out knobs and pulls in the kitchen or bath will catch the eye and revive an entire room. Taking it a step further to update faucets, light fixtures and even switch plates can take a space from ordinary to inspiring. Area rugs, lamps and plants are also quick ways to add life and warmth to a room with the convenience of portability. Because they are easily changeable, updating “unattached” items can instantly modernize a space with a fresh style.

- And don’t forget first impressions—exactly how fast are prospective buyers driving past the home? No brake lights? A quick tap and then accelerate? Or do they come to a full stop to get a better look? That fresh, new interior will never be revealed if the curb appeal of the exterior is blasé. Everything from container gardening and clean welcome mats to new storm doors and shutters can pull that buyer into your drive.

Artistic staging can showcase the best features in a home. But in today’s market, take a refreshing approach—go that extra mile and look for ways to make the home memorable to a potential buyer.

As a member of the Top 5 in Real Estate Network®, I can consult with you to uncover other ways to refresh your particular home. I can also recommend credible, professional stagers to work—just e-mail me for more information. If you feel this information can be helpful to others you may know, I encourage you to forward this information to them.

Sincerely,

Rosemary

Rosemary West
RE/MAX of Joliet
Rosemary's Assistant
rosemarywest5@comcast.net

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As a leader in real estate, I am repeatedly asked specific questions about today's market - especially in today's economy. In an effort to provide more information to my community, I am sending you this Top 5 Real Estate Social Networking System^sm “e-Article,” in which I provide useful real estate information to my real estate networks. If you find the enclosed information beneficial to your family and friends, I encourage you to forward it to your “social network" as well.

Is Your Home Merchandised to Sell? Top 5 Ways to Find Out

You have probably noticed that it is taking most homes a lot longer to sell in today’s buyer’s market. As a Member of the Top 5 in Real Estate Network®, I am constantly asked, “What can I do to make my home sell faster and at a better price?” The answer? Proper merchandising.

The right merchandising is critical to the effective sale of your home—in a reasonable time frame and at a price point you are happy with. Merchandising is often referred to as property preparation or staging—but true merchandising goes far beyond that. If the agent you are considering working with can only offer obvious suggestions like, “empty the closets, de-clutter, paint the front door, cut the grass, and remove personal items,” then it’s all the more important that you ask any agent you are interviewing the following questions:

1. Please explain the difference between marketing and merchandising. (If they say they’re the same thing, that’s a red flag).

2. What are the things we can do, at no additional expense, to add greater value to our home?

3. What investments in merchandising could we make that would generate a significantly greater return?

4. Are we in a marketplace that - because of the supply-and-demand ratios, how the market is trending and the number of days on the market - lends itself to merchandising our home?

5. What concerns might prospective buyers have about our home? Is there anything that can be done to address these concerns through effective merchandising?

Also be sure to ask the agent for examples of other properties in your area that he or she helped merchandise and how that merchandising influenced the results. Asking these questions will allow you to determine if the agent you are considering has a deeper understanding of merchandising in order to secure a successful outcome for the sale of your home. These questions will also provide insight as to the agent’s own feelings about your property.

If you—or any of your friends and family—would like more information on how to select the best possible real estate agent to handle the sale of your home, please e-mail me for a free copy of the Top 5 publication, What Every Home Seller Should Demand…of Their Real Estate Agent.

Remember, your home only has one chance to make a first impression, so it is crucial that your real estate agent possesses the techniques to get your home looking its best. If you believe that this information can be beneficial to others, please forward this e-mail to them.

Sincerely,

Rosemary

Rosemary West
RE/MAX of Joliet
Rosemarywest1@comcast.net
Rosemarywestteam.com