Page: 1 2 3 4   March 2010 - Page 2 DEAL BREAKERS What Home Sellers Can Do To Avoid Losing A Sale When your home is on the market, you know how important it is to hold on to the right buyer. But, before the offers come in, your home needs to showcase itself well to ensure you don't lose any offers before they can occur. Here are five home-sale deal breakers -- common mistakes to avoid. Color can kill a sale. Wall colors that are too cold, too unusual or too stark can turn off buyers early in the process. Don't hide defects. Buyers will eventually find out what is underneath the decorative carpets and furniture upon walk through. Be honest from the start and disclose everything you know about your home. If it conveys, it stays. Be very clear about what sells with the home. If you aren't planning on leaving certain appliances or removable features, remove them before your home goes on the market. Buyers may fall in love with the chandelier, for example, and end the sale when they learn it doesn't convey. Community issues. If your home is part of a community association, give potential buyers access to by-law documents that detail any restrictions the homeowners, condo or co-op association imposes on your property, such as pet ownership, ability to rent out the property, working-at-home covenants, architectural standards, etc. Offer peace of mind. Many buyers, especially first-time buyers, are nervous about committing to a home purchase. Offering a home warranty and/or pre-sale inspections gives a sense of security to these buyers and can help facilitate a sale. APRIL 30, 2010 Tax Credit Deadline Looms Large Qualified first-time home buyers and repeat buyers are eligible to receive tax credits when they sign a purchase contract by April 30, 2010 and close/settle on the new home by June 30, 2010. Income limitations for buyers are $225,000 Modified Adjusted Gross Income (MAGI) for married-joint filers (or equivalent status), phased out up to $245,000, and $125,000 MAGI for single filers and married filing separately, phased out up to $145,000. The purchase price of the new home cannot exceed $800,000. First-time home buyers are those who have not owned a principal residence for the three years prior to the closing/settlement date. Qualified first-times can receive up to an $8,000 credit (or $4,000 each if married filing separately). Repeat buyers who have lived in their current home any consecutive five-year period in the previous eight years are eligible to receive up to $6,500 (or $3,250 each for married filing separately), with the credit amount not exceeding 10% of the home's purchase price. Members of the U.S. armed forces, intelligence services and foreign service who were on overseas deployment for 90 days or more in 2008 or 2009 have until April 30, 2011 to purchase a principal residence and claim the tax credit. Complete details about the program can be found at www.FederalHousingTaxCredit.com or you can contact us anytime to find out more. Don't delay, though, as a signed contract must be complete by April 30, 2010. Spring Forward! No matter what time of year, there are many good opportunities to buy or sell your home. Springtime is one of the best times for real estate -- a larger number of homes go up for sale in spring and a larger number of buyers are out trying to find their perfect home. Buying or selling, give us a call whenever you are ready to make a move. We're happy to discuss your real estate needs and assist you in any way.   Page: 1 2 3 4