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Selling your Home in a Down Market ... Yes, You Can Sell Your Home in a Down Market. Ignore the doomsday reports and the negative voices! If you need to sell your home.. You Can!

If you need to sell your home you can sell it, even in a down market. Think positive and create the outcome you desire! The secret is the marketing plan. Since buyers aren't lined up like frenzied shoppers waiting to start a bidding war, you have to use some smart strategies. Think of your house as a product, and you are creating "Pride of Ownership" for the new owners.

No matter what the market is, there are always people looking to buy a home-and it only takes one buyer to sell your home! So, rather than succumb to a negative mindset about the down market, just outwit the competition. Stay positive; you can sell your home! Here are some tips on how to do that.

Make Your Home Stand Out in a Crowded Real Estate Market

When the market is crowded with homes, and buyers have more than enough to pick from, you must make your property stand out. Here are some tips.

• Dress Your Home to Sell: You wouldn't wear jeans and a tee shirt to the President's Ball, and you shouldn't put your home up for sale looking like the way you live day-to-day. You want to stage your home, meaning you dress it up and present it looking it's absolute best. It's a fact that staged homes sell faster, and in a down market, that's all the more important.

  Hiring a professional home staging service can be worth the investment if you have the financial resources. If your resources are limited, there are good books that teach you how to do it yourself.

• Create Excitement with Your Photographs: Even before potential buyers come to visit your home, they'll likely look at photographs on the Internet; but if they don't, you can be sure their buyer's agent will. Therefore, it's crucial that you take the time to find the right angle and right lighting for photographing your home to its best advantage. For example, you can make your home appear spacious or small simply by how far away the photographer is and what angle he shoots. Take shots at different angles to discover which one is most flattering. The same applies to interior pictures, you can't afford to post mediocre pictures.

• Create the WOW: Creating curb appeal goes hand-in-hand with the first two. Buyers want a home they can feel proud of. Stand out in the street and look at your house as if you were looking at it for the first time. Does it make you say "WOW"? If not, get down to the nursery and home store and find the plants, outdoor lighting and outdoor amenities to make that happen. (Think big ceramic flower pot by the door, a luxury door knob, beautiful lighting, etc.) And, don't forget cleaning the driveway and side of the house. No oil spills and no outdoor clutter allowed. Ask yourself, would the new owners be proud to host a housewarming party the day they moved in?

• Show Off Your Neighborhood: Most home sellers fail to take advantage of their surroundings. Display a list on your kitchen counter that tells potential buyers about neighborhood attractions such as a library, parks, walking trails, beaches, coffee shops, theaters, good schools, etc. The community in which you live can add value, but you need to point it out. Your buyer may be from another area and unaware of what you have to offer.

• Most of all Price it Right: Any home will sell, in any market, if the home is price right. Pricing is probably the most crucial part of selling quickly in any market. An asking price that is beyond market range can adversely affect the marketing of a property.

  A Comparative Market Analysis (CMA) is essential to determine the value of residential property. Location and characteristics of the property are the key elements in determining value, therefore the basis for valuation is similar properties in your area. The market analysis takes into account the amount received from recent sales of comparable properties and the quantity and quality of comparable properties currently on the market. The desired end result is to find a price that will attract a willing and able buyer in a reasonable time. Remember realistic pricing will achieve maximum price in a reasonable time, and your cost or profit desire is irrelevant; the market determines the price. A house that is priced right from the beginning achieves the highest proceeds.

Anthony Stokes Pereira Phone: (845) 770-2188 Cell: (845) 538-07021 Fax: (845) 624-7134 www.anthonystokespereira.com If your house is currently listed with another broker this is not intended as a solicitation of that listing.This is intended to be informational only. Please be advised that real estate practices vary from state to state and market to market. The information contained herein does not constitute legal advice.

The decision to rent vs. buy is a very personal one. There are many sound reasons to purchase a home: equity build-up, tax savings, capital gain when you sell, and the enjoyment of ownership. The purchase of a home requires a cash investment and taking on debt. Naturally you must have saved enough cash, be able to make future payments, and also have enough time and resources to maintain your home.

The cash investment is applied toward your down payment, closing costs, and prepaid items. Some of these items are not easily recouped if you should sell the home you buy in the short term. Buyers need to consider how long they will own the property before selling. If you intend to occupy the property for a short period of time, then the financial benefits of owning the property are diluted.

In financially analyzing the rent vs. buy decision, you should compare your current rent, future increases, and the renters insurance that you are now paying to the monthly house payment, future appreciation, maintenance and capital gain when you sell. The house payment normally includes your principal repayment of the mortgage, the interest owed on the mortgage, the property taxes, and property insurance. (This is called your PITI, which stands for principal, interest, taxes and insurance.) With time, your property should appreciate or increase in value.*

The rent you pay a landlord is never recouped and none of the rent is tax deductible. When you buy a home, the yearly property taxes, interest, and some of the closing costs are tax deductible.

Anthony Stokes Pereira Phone: (845) 770-2188 Cell: (845) 538-07021 Fax: (845) 624-7134 www.anthonystokespereira.com This is intended to be informational only. Please be advised that real estate practices vary from state to state and market to market. The information contained herein does not constitute legal advice.

The excitement of buying a home can kindle urgency to start your Home Search. When you view homes for sale the American Dream gets closer to reality. However, instead of jumping in to view homes first, the smart first step in the process should be arranging your financing. This focuses you on a price range of homes that matches your personal finances, instead of looking at properties beyond your means. It can be very disappointing to have to step back to a lower price range to obtain a mortgage.

Fluctuations in interest rates may influence the size of home you can qualify for. When rates are low you can qualify for more house than when the rates are high. Various loan programs can influence the amount you can borrow, the rate that you will pay, and the cash required. These factors will influence your purchase. When you make these decisions before you look at properties, you reduce the stress that accompanies financing uncertainty.

There is another important reason to qualify first. A seller will not negotiate in earnest if you cannot prove that you can obtain a mortgage. When you present an offer to a seller, you will provide written proof from a lender that you have been examined and qualify for a loan.

If you find the right property, you should make an offer right away. A delay while you arrange your financing might allow another buyer to buy the property. If multiple buyers make offers at the same time, it will be the buyer with the best terms who is fully qualified that will win.

Written Proof of Mortgage Qualification

There are two kinds of written proof of mortgage qualification. The first is a pre-qualification letter. This document provided by a lender tells an interested party that the buyer has provided the lender with certain financial details. A lender will agree to make a loan based on a later verification of these details. In this case, the lender will not investigate a buyer's credit or verify the buyer's income or debts prior to issuing a pre-approval letter.

Oftentimes the wording in pre-qualification letters states that based on information provided by the buyer, the buyer will qualify for a certain loan amount. The lender will take the buyer's word for information such as income and assets. The lender does not pull a credit report. This is the weaker of the two letters because a buyer may report income, assets, debts, or credit inaccurately, and might not get the loan.

The second written proof is a pre-approval letter. This is the stronger letter of the two because the lender has placed you through a loan approval process. The lender will pull a formal credit report from one or several credit bureaus to check your credit and debt information. The lender will verify your income usually through a copy of recent pay stubs or a copy of the buyer's W2. This type of approval takes longer because of verification of the buyer's finances, but it provides greater likelihood of loan funding.

Anthony Stokes Pereira Phone: (845) 770-2188 Cell: (845) 538-07021 Fax: (845) 624-7134 www.anthonystokespereira.com This is intended to be informational only. Please be advised that real estate practices vary from state to state and market to market. The information contained herein does not constitute legal advice.