Home Staging is More Critical Than Ever

Never underestimate the importance of preparing your home for showing.  If your home is up for sale, proper staging is of utmost importance and can net you thousands in profits after your home sells.

A well staged home will attract buyers even if there is a surplus of homes on the market.  Likewise, in a shortage, a staged home attracts more and higher offers when there is a shortage of homes available.  Either way, you win.

The major factor in staging a home is to eliminate as much as possible from the home.  This doesn't mean create empty rooms.  On the contrary, the home needs to look lived-in and homey, but extremely tidy and simplified.  For example, consider renting storage space for all your storage.  If you have boxes and piles of stuff in your basement or attic, get it out of the house.

The bonus of thoroughly cleaning your home and boxing up some of your less important belongings is that you're well on your way to being ready to move when you get a sale.

Check the Internet and the Yellow Pages for professional help in staging your home for showing.  Taking the time to properly stage your home could save you time, and put more dollars in your pocket at closing.

Why is There Help for Banks But Not Homeowners?

Americans want to know why the big companies that financed their homes and repackaged the debt into securities can simply take writedowns, and watch the value of their shares drop temporarily, while so many people are losing their homes.

Most of all, they want to know why the Federal Reserve is rallying to help the banks, while leaving individuals to suffer the consequences. After all, it was former Fed chairman Alan Greenspan who once urged homebuyers to take advantage of adjustable-rate mortgages.

The latest plan from Greenspan's successor, Ben Bernanke, is to allow Fannie Mae and Freddie Mac to guarantee "jumbo" loans (those bigger than $417,000) so the lenders can keep on lending.

 
A bill introduced in Congress that would actually provide some relief to homeowners has provoked the wrath of the banks.

The concept of "too big to fail" has been with us for a while.  Americans have accepted that the Fed will bail out those who make really big mistakes that could impact the entire economy.  The airline industry got a chance to "restructure" through bankruptcy and is still flying.  Even Donald Trump could "restructure" through bankruptcy and today hosts seminars on how to create a fortune.

Are we, the general public, missing out on something?  Why can't the millions of homeowners facing foreclosure simply "write it off" and continue to live in their houses?  What's wrong with this picture?

Anyone else upset over what seems to be taking place with this Federal Bank Bailout plan while millions of homeowners take it on the chin?  Leave us your comments or thoughts on this.  We'd love to hear from you!

Home Sales Decline in 46 States

Sales of existing homes fell in 46 states during the July-September quarter as the housing market's slump worsened

The new third-quarter figures from the National Association of Realtors underscore the severity of the housing market's slump, which has economists increasingly pessimistic about the economic outlook.

Vermont and North Dakota were the only two states to show sales increases.  No sales figures were available for Idaho and New Hampshire.

The NAR Report did see a silver lining in the data however, noting that home prices rose in 93 of the 150 metropolitan areas surveyed.

Trade group officials emphasize the real estate market is not a national one, and conditions vary — sometimes dramatically — from market to market.

Home Builders See Worse Times Ahead

Home builders' confidence stayed at record low levels in a November as a slight uptick in buyer traffic was balanced out by a slightly more pessimistic view six months down the road.

The overall National Association of Home Builders index was 19, which was the same as the upwardly revised October reading.

The index measuring how builders view buyer traffic edged up to a reading of 17 from 15 in October.  But the subindex measuring builders' view of the market six months from now slipped to a record low 25 from 26 a month ago.

Builders have widely reported offering incentives such as covering closing costs and extra features on a new home for free in order to spur demand.

If you are in the market for a home, would you think you'd get a better deal on a new home, or a resale right now?  We'd love to hear your opinion.  Just use the "comment link" below and tell us what you think.

Home Buyer Incentives?  Doesn't Hurt to Ask

In a seller's market, a prospective home buyer needs to be a little more cautious when negotiating a purchase; however, in today's buyer's market, incentives are an accepted part of the deal.  It certainly never hurts to ask for incentives, but be careful not to get carried away to the point of alienating the seller totally to the point they are willing to even negotiate.

It's not uncommon for a seller to wait for three months or longer to sell their home, especially during this time when the market is saturated with homes for sale.  They need to make their home stand out amongst the rest, and often times, offering sales incentives is the easiest way to accomplish this.

When purchasing a new home from a builder, the incentives can be almost endless, and range from new appliances, landscaping, big screen TV's and even swimming pools.

This buyer's market won't be here forever.  Right now, if you're a buyer, you've got an edge; be sure to take advantage of it.