In today’s real estate climate, you want to be sure to take all the necessary steps to squeeze every possible penny out of the sale of your home.  Small oversights or missteps can be costly when it comes to your bottom line.  However, there are some common mistakes that are easily avoidable if you listen to the experience and advice of your Kingsley Real Estate agent.

One error that can cost you is to put your home on the market before it is truly ready for presentation.  Image is everything, so get all the cleaning, painting, patching, and lawn care done well in advance of your first showing.

Another costly stumbling block involves your initial listing price.  Remember that you control the asking price, but not the selling price - that is finally determined by the buyers and what the market will bear.  Try to detach yourself emotionally from what you want to net, and price your home aggressively against your competition, right from the beginning.

Emotional attachment can keep you from perceiving and presenting your home as what it now is, a commodity.  Present it, market it and price it as you would any new product on the market.  Your agent will make sure it gets exposure to the right demographic, and will help you avoid costly errors along the way to a successful closing.

If you would like to speak to me or one of our full-time Associate Brokers about selling your home, please stop by our office, call or email and we would be happy to share our knowledge with you. 

As you consider buying your first home, you’ll get lots of advice, but you shouldn’t do anything without a complete understanding of your financial situation and how much home you can afford.  So, where do you begin?

There are two parts to financing - the downpayment (generally 20% of the purchase price) and the balance (the remaining 80%).  Secure the best interest rate by reviewing your credit reports and correcting errors, which are surprisingly common.  Do this at least two months in advance of your home search, as that’s how long it can take to clean up your reports.

You’ll know exactly what you can afford by securing pre-approval from a lender, who will review your income, debt and credit, and suggest the loan best suited to your qualifications and needs.  If you can put down more than the usual 20%, you may qualify for a higher loan amount.

With less than 20% down, you might pay a higher interest rate or PMI (Private Mortgage Insurance), because the lender assumes a greater risk.  Consult a financial adviser about ways to raise the cash, like withdrawals from an IRA or gifts from your parents.  Each has tax implications, so proceed with caution.

With your financial house in order, you’re ready to discuss your desires with a Realtor® from Don Kingsley Real Estate and begin your home search in earnest.  Congratulations!

It’s probably no surprise that homeowners who have faced the ordeal of foreclosure feel a certain measure of shame or guilt about their experience.  Whether or not those feelings are warranted, it’s hard to survive the process completely unscathed.

What is surprising is the recent development of “buyer’s guilt.”  Some who are fortunate enough to afford to take advantage of a low-priced foreclosure offering are suffering some degree of remorse about the transaction.

Whether it’s because they got a deal that none of their friends or family did, or whether they just feel badly about someone else’s unhappy situation, the emotions are real, but should be approached in a different way.

These buyers are not necessarily capitalizing off someone else’s misfortune, but actually helping by removing a distressed property from the market and maintaining property values.  It’s actually good for the market and the local economy for buyers to take advantage of these bargains.

If you have some doubt about buying a foreclosure, you can ease your concerns and do some good for others. When you make your move, why not make a donation of household goods instead of packing them in boxes?  Certainly a local shelter or charitable organization like the Salvation Army can improve the lives of others with your kindness, and put you in a great frame of mind about your move!

If you are in need of real estate guidance and would like information on buying a foreclosure or any other home, please call or stop by our office and a Kingsley Real Estate Associate Broker will be happy to help you.  If you prefer, you can email me at donkingsley@kingsleyrealestate.com and I’ll be happy to share my knowledge with you at no cost or obligation.