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Real Estate & Finance News That Affects Your Home                                                       August  2008 - Page 3

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SHOWCASE Get Ready For Short-Notice Showings In 10 Minutes Or Less Selling a home while living in it is not easy—if you want it to look its best when potential buyers come around. Still, with a plan in place, you can minimize the panic of short-notice showings. You’ll need a bucket or caddy with all the required cleaning supplies. Then use the following as your checklist. First Things First Turn off the noise—TV, stereo, etc. Make it light. Turn on lamps to lighten and brighten every room. For daytime showings, open drapes and blinds. Stash magazines, newspapers and mail in a basket or box you can easily slip under a bed or hide in a dresser drawer. Get rid of odors. First remove the source, then open a window or door to let in some fresh air. If needed, place a small bowl of white vinegar or fresh coffee grounds in the area of the unpleasant smell to neutralize odors. Bowls of fresh herbs or citrus peels can mask odors as can a few sprays of air freshener. Round up the pets and get them out of the way—either outdoors or in a kennel. Check floors. Use a hand vacuum or damp cloth to remove debris or spots. (Do a complete sweep-up if you have time.) Get Ready Room By Room Kitchen: Clean and put away dishes (or hide them in the dishwasher). Wipe counters and fixtures. Bathrooms: Wipe counters, fixtures and mirror. Make sure toilets are clean and lids closed. Hang fresh towels neatly. Bedrooms: Make bed (best done first thing every morning, just in case). Put clothes away in drawers, hang them in the closet or hide them in the washer or dryer. Children’s rooms: Gather toys, games and books, and put them back on bookshelves or in baskets and bins. Living or family room: Remove clutter; put away books; stash knick-knacks and family photos out of sight.

MORTGAGE NOTES Buy Now To Get Easier Loan With low mortgage rates and more homes for sale, today’s market is ripe for buyers who have been sitting on the fence. Another reason to buy now: tightening loan standards. Here are some experts’ predictions to watch: Second mortgages and other mortgage-backed loans will require borrowers to have 20% or more home equity. Credit-score-based fees will become more common for borrowers with scores below 720 or so. Buyers in designated “declining markets” will need an additional 5% or more down payment than is currently required. Condo buyers may need even higher down payments than single-family-home buyers. Most mortgage products will get a “makeover” with higher standards.

 

 

 

 

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