Getting Started
As you prepare to place your home on the market, there are a number of things that you can do to enhance the final sale price. Take a look at your home through the eyes of a potential buyer. Make your home as appealing and uncluttered as possible. Keep the lawn, shrubs and trees neatly trimmed. Powerwash or paint your home's exterior. Repaint your home's interior with neutral tones. Make sure there are no cobwebs or lingering odors. Have the carpet cleaned. Consider making minor improvements which can have a positive effect on your home's value, such as updated kitchens and baths. Employ a professional real estate agent. An agent can shorten the selling time while earning you the highest sales price with minimal inconvenience to you.

Pricing a Home
Your goal is to get the most money possible for your home in the shortest period of time. Your house is ultimately only worth what a buyer is willing to pay for it. Find out what similar homes in the area have recently sold for. A well trained real estate sales agent can prepare an informative comparative market analysis of your home. This will provide you with an objective comparison based on current market conditions. Using this analysis you can price your home competitively to generate an offer on your property.

Marketing Your Home
Typically a homeowner is lead to believe that marketing consists of a for sale sign in their front yard and a classified advertisement in the local newspaper. While these are definitely forms of marketing they are by no means a plan, campaign or strategy. A full service real estate company equipped with professional real estate agents is generally required to successfully market and sell homes. The primary aspect of real estate marketing is centered around actively prospecting for buyers. This is done through exposure of property to thousands of prospective buyers across the nation via internet sites, advertisements in exclusive publications, nationwide and international corporate and government relocation agencies, television advertising and more. Other aspects of marketing provided by professional real estate agents are: direct mail outs, brochures, networking with other local real estate offices, exposure to agents through the Multiple Listing Service, aggressive telemarketing within the local community, for sale yard signs, weekend open houses and other innovative marketing strategies.

The Offer
Once a prospective buyer has presented you with an offer on your property, you have three options. You can accept the offer, give a counter offer, or reject the offer. The offer will include many factors besides the purchase price. There may be financing contingencies, a request for a closing date, inspection contingencies, or many other issues. The offer should be considered in its entirety. You may be willing to take a slightly lower price from someone who is willing to close escrow quickly or has no contingencies. Rely on your experienced real estate professional to discuss the various points of the offer with you and help you negotiate the best sale.

The Closing
Finally, the time has come to complete the sale of your property. Typically you will meet with an escrow officer from the title company that is facilitating your closing to settle the paperwork and exchange moneys. The escrow officer will review all closing documents with you including the title policy insuring that there are no liens or encumbrances against your property that would prevent the transfer of title to the buyer. This is an important meeting and you will be signing many different forms. Review all documents carefully. Your Realtor may attend the closing or they will review many of the documents in advance and notify you of the costs and fees associated with your closing and with your estimated proceeds.

Once all items have been signed and the final documents recorded you will receive your proceeds check. Congratulations! You have successfully completed the sale of your property!

Buying

Getting Started - A Few Important Considerations.

• First and foremost, you must determine and understand the financial impact of owning a home. Consider things like additional utilities, maintenance, repair and even property taxes. Understanding and preparing for these additional costs will help eliminate financial surprises in the future.
• Start a savings plan; you'll need to have cash on hand for a down payment and closing costs.
• Get a copy of your credit report to verify that all of the information is correct.
• Don't take on any additional debt, especially during the six months prior to applying for a home loan.
• Pay down your credit cards and don't apply for any new ones. Remember, most lenders often consider open credit cards with a zero balance as used credit, so cancel any cards you can live without.
• Finally, select a reputable real estate agent with experience in your area. This person will be able to help select the right home for your lifestyle and also assist you with the buying process.

How much house can you afford?
Any lender will want to make sure you are able to afford the home you buy. Typically, you are eligible to purchase a home worth two or three times your annual income, depending on your savings and debts. Your total monthly payment for housing expenses, which include mortgage principal, interest, taxes, and insurance (PITI), should not be more than 30-40% of your total monthly income. As interest rates rises and fall, the maximum sales price you can consider will also change. Keep up to date with the current interest rates by checking with our preferred lender, Cendant Mortgage.

The benefits of home ownership should also be considered as you approach making a decision about purchasing. As you make mortgage payments each month, your property is typically increasing in value and you're building equity in your home and increasing your net worth. A more immediate benefit is the tax benefit of deducting the interest paid on your mortgage each year when you file your personal tax return.

The Offer
Once you're pre-qualified for a mortgage and have found the right house, you'll want to make an offer to the seller and begin negotiating the terms of the sale. The contract will include many items such as your sale price, method of payment, date you will take possession, and any additional fixtures or furnishings that will be included in the sale. Your realtor can provide you with a sample purchase agreement so that you can become familiar with the terminology and have your questions answered early on in the process. Your submission of an offer will include a good faith deposit or earnest money. This deposit will be applied to the purchase of the home at the closing.

The seller will either accept, reject or make a counter offer to your offer. Usually the counter offer is in reference to the price, the closing date or some other item. After all parties have agreed on the points of the contract, you will want to schedule a home inspection to make sure your new home is in good working condition. You will also need to inform your lender of your purchase and provide them with a copy of the contract.

The Closing
Finally, the time has come to complete the purchase of your new home. Typically you will meet with an escrow officer from the title company whom is facilitating your closing to settle all paperwork and exchange moneys. The escrow officer will review all closing documents with you, including your loan or mortgage documents. This is an important meeting and you will be signing many different forms. Review all documents carefully. Your realtor may attend the closing or they will review many of the documents in advance and notify you of the costs and fees associated with your closing.

Once all items have been signed, moneys collected and the final documents recorded you will receive the keys to your new home. Congratulations! You are now a proud homeowner!