CMA

CMA Steps

From: mratcliffe1, 4 months ago





How to do a market assesment to determine vake

9 Home Staging Tips for Faster Sale

1. First impressions count Roll out the red carpet for potential homebuyers by sprucing up your entryways, especially the one on a lockbox. Welcome mats, planters filled with seasonal flowers, and clutter-free foyers and hallways set the stage.
2. Sell the space, not your stuff. Remember that the goal of a successful showing is to make a prospect feel at home – like it’s theirs, not yours. Put away your extensive personal collections. Less is more: open up your space so prospects can actually see what they’re buying.
3. Paint and elbow grease work wonders. Fresh paint and a thorough cleaning will give you the greatest “bang for your buck.” Remember that neutral walls are your best bet when staging a home for sale. Lowe’s has all the right shades to make your home more inviting. Check out lowes.com for fun tools like the Paint Visualizer http://www.valsparatlowes.com/ coordinate-colors.html.
4. Go with the flow. Arrange furniture for easy traffic flow. Consider placing a major piece of furniture at an
   angle, such as a couch or desk. Angles add interest and can create a more open feel.
5. See the light. Move lamps to dark corners and arrange window treatments so that natural light
   floods your rooms. Brighter is better, and your rooms will look larger. Visit Lowe’s extensive lighting section for the latest in fashionable, functional lighting.
6. Go green. Live plants can add decorative flair, without spending a bundle. Plants and cut flowers have a way of warming up a room.
7. Don’t forget the outdoors, especially this time of year. If you have a porch, deck or patio, clean the furniture and replace worn cushions. Breath new life
   into your deck with a fresh finish; Lowe’s has a variety of deck staining and sealing products that are easy to apply.
8. Make the kitchen sparkle. De-clutter the countertops by removing toasters, food processors and other
   non-decorative items. If you have a breakfast table or counter, put out a couple of table settings complete with place mats, napkins and dinnerware.
9. Warm up an empty home. If your home is vacant, consider renting furniture for key rooms, but don’t
   go overboard. Ask your real estate professional for
   advice, based on your home’s unique features and selling points.

Selling Your Home in a Cooling Market

by Stacey L. Bradford
June 9, 2006

IF YOU'RE THINKING OF selling your home, chances are all the headlines warning of the real estate bubble bursting have you feeling a little anxious.
Already, the buying frenzy has slowed substantially in places like New York City, Miami, Washington, D.C., Las Vegas and San Diego — areas that reported very slow price growth in the fourth quarter of 2005, according to the National Association of Realtors (NAR). At the national level, the real-estate market has slowed down significantly compared with the frantic 2004 and 2005.
The NAR expects that as mortgage rates rise this year, home sales will drop: about 400,000 fewer people will buy homes this year compared to 2005, according to NAR spokesman Walter Molony. Already, the real-estate market is returning to what the trade group calls a balanced market between buyers and sellers. "What's happening now is with buyers being on more equal footing with sellers, they don't feel like they need to make snap decisions," says Molony. "They don't have to bid over the asking price, they can take the time to do the due diligence."
So if you plan to sell your home in the near future, call a handyman to make sure everything is in working order. Then take a close look at your local real-estate market and find out what's selling, what's not and why. Finally, don't expect to get more for your house than your neighbor got a year ago. This is a different market, warns Nelson Zide, co-owner of ERA Key Realty Services in Framingham, Mass. Look at more recent sales data and price your home accordingly.
Here are some more tips to help you get top dollar for your house.
Price, Price, Price
Selling a house is all about price. Ask too much, and you could get stuck with a home that languishes on the market. The longer it sits, the harder it is to unload. "The first question a buyer asks is how long the house has been on the market," says Pamela Liebman, chief executive of New York-based real-estate firm the Corcoran Group. "If it's been on a while, they ask what is wrong with the house."
Ironically, homeowners who ask more for their homes tend to get less in the end. According to Liebman, studies show that if you price your home properly it will sell faster and at a higher price than if the home was priced aggressively. "Overpricing leads to low bids," Liebman says. "Proper pricing leads to high bids."
So how do you set the right price? First, take a look at recent sales in your neighborhood. And don't forget to factor in the condition of your house. A home buyer in a more neutral market is still going to pay up for a new kitchen with Poggenpohl cabinets and a Sub-Zero Refrigerator. But if you failed to notice that Harvest Gold stoves and countertops went out of style with bell bottoms and love beads, you had better be prepared to drop your price by about as much as it would cost a new owner to renovate your relic.
Curb Appeal
First impressions are everything. The last thing you want is to turn off a potential buyer before he or she walks in the door. So make sure the house is painted, and call a landscaper to get your lawn in tip top shape. "If your grass isn't green, make it green," Liebman says. "If you have weeds, get rid of them. If the shrubs are overgrown, cut them." Even small, inexpensive potted flowers can make your home seem more inviting.
Renovations
Some renovations are worth an investment. An extra bathroom makes a home more saleable, says Jim Cory, senior editor at Remodeling Magazine. A few cans of paint and new carpeting could also provide a handsome return. An outdated eight-room home in South Philadelphia, for example, might go for roughly $130,000, says Cory. Pull the shag carpeting and wood paneling — a project that costs roughly $15,000 — and that same home could list for $180,000.
Fix Everything
Make sure everything works. Have an inspector assess everything from your water heater and furnace to your central air conditioning system. "If there are any doubts about the mechanical functions, a buyer will walk," Remodeling Magazine's Cory says.
Even minor repairs are crucial. Hire a contractor to go through your home with a fine-toothed comb. Make sure the gutters are cleaned and the tub has new grout and caulk in the joints. Every window must slide open, and kitchen cabinets should open with ease. And don't forget to paint over ugly water stains. If you don't, a potential buyer could see it as a warning sign of a larger issue.
If you're inclined to leave your home as is, prepare to drop your asking price. "I hate to say it, but price cures everything," says Era Key Realty's Zide. Historically, buyers negotiate two dollars for every dollar of reported deficiencies, according to home-inspection company HouseMaster.
Additional Tips
There's some basic advice that's worth repeating. Keep your home as clean and as pristine as possible. This means cleaning out your closets and getting rid of excess clutter and furniture. You want your home to look as spacious as possible. The Corcoran Group's Liebman even suggests fresh flowers. "Baking cookies could be a bit silly and obvious," she says.
How long will all this take? Give yourself a good six months. It takes time to plan, and then to coordinate projects with a contractor or handyman. Just know that the hassle will be worth it. With a little hard work, you can get the best price for your home in any market.

Eight Ways to Cut Summer Energy Bills

by Stephanie AuWerter
June 9, 2006

WITH SUMMER FINALLY kicking into gear across the country, you can almost hear the gentle hum of air conditioners ratcheting up. And with it, climbs home energy bills.
These days, the average household spends $1,400 annually on energy (based on electricity and gas usage), according the Environment Protection Agency. But much of that, say energy conservationists, is money wasted.
The good news: Cutting back doesn't mean you need to be a tree-hugging naturalist, suffering stoically as you read by candlelight. These days, you can do right by the environment and your pocketbook — without any major lifestyle sacrifices. In fact, by taking some relatively painless steps, you can cut your bills by one-third or more.
Here are eight easy ways to save this summer (including a few tips that will work year-round).
1. Upgrade Your Thermostat
Are you the type who likes to chill after a sticky workday by coming home to a house that's as cool as a meat locker? You can live this dream and cut your energy costs by investing in a programmable thermostat. These handy little devices allow you to cool your home at different temperatures at specific times, explains Mark Hopkins, acting co-president of the Alliance to Save Energy (ASE).
So you could, for example, turn down the AC during the day, when your family is away from home — and crank it up again 30 minutes before the first family member returns. Or, you could turn it down during the wee hours of the morning, when no one's likely to notice a shift in temperature.
Installing a programmable thermostat shouldn't set you back more than $100 to $150 — and the energy savings can be substantial. According to the U.S. Department of Energy, you could cut your heating and cooling bills by 10% annually just by turning your thermostat back 10% to 15% for 8 hours a day.
2. Go Green
OK — this will require a bit of effort on your part, but the returns are twofold: Planting just three shady trees around your house not only can whack $100 to $250 off your annual heating and cooling costs, according to the DOE, but will most likely make your yard more attractive, to boot. (Leafy trees can shield the house from direct sunlight, keeping temperatures down, while still permitting sunlight to hit your house during the winter months.)
Not interested in nurturing your green thumb? Simply pulling the shades (or drawing your curtains) can cut energy costs as well, says Mel Hall-Crawford, an energy efficiency expert at the Consumer Federation of America.
3. Keep It Clean
Keeping your air-conditioning unit clean and in peak performance is another big money saver. To kick the summer off, your AC unit should have a professional tune up (expect to pay somewhere between $90 and $120), says Wendy Reed, an Energy Star spokesperson at the EPA. (Energy Star is a joint program run by the EPA and the DOE that, among other things, deems certain products energy-efficient.) And air-conditioning filters (regardless of whether you have central air or an individual unit) should generally be checked every month or so to see if they need cleaning or replacement. This is something you should be able to do on your own.
Another item to add to your spring cleaning list: Dusting off your refrigerator condenser coils, says Hall-Crawford. This will make the unit run more efficiently.

4. Buy a Better Bulb
Compact fluorescent light bulbs (called CFLs) require 75% less energy than traditional (officially called incandescent) light bulbs, and last up to 10 times longer, according to the ASE. Be sure to look for CFLs with the Energy Star label, since these bulbs won't have any buzzing or humming problems, promises Energy Star's Reed. These bulbs now come in smaller sizes (called subcompacts) that can fit into any lamp, and they have a wider color spectrum. According to the ASE, replacing just four well-used 100-watt incandescent bulbs with equivalent 23-watt CFLs will save you $108 over three years. (For a table of equivalent wattages, click here.)
Also, do you still have one of those halogen lamps leftover from your college days? (You know — those tall lamps that didn't cost much more than a couple of pizzas to buy?) Do yourself a favor: Dump it. Not only are these dangerous fire starters, but their bulbs, which can generate temperatures of 700 to 1,100 degrees Fahrenheit, are energy hogs as well, says Reed. That makes them considerably less inexpensive than they seemed back in the day.
5. Join the Fan Club
As many as 73% of homes have ceiling fans, according to the International Housewares Association. Are you using yours? A ceiling fan can balance out a room's temperature, allowing you to turn down the AC and still feel cool, says Reed.
6. Unplug
Even when all of your home electronics are turned off, many continue to suck down energy. The main culprits: televisions, VCRs, DVD players, stereos, phones and microwave ovens. (Generally, anything that has a clock, a remote control or an on/off light falls into this category.) In fact, idle TVs and VCRs cost U.S. consumers $1 billion annually, or $30 per household, according to ACE. One solution: Plug the items that can truly be turned completely off into a power strip, and then use that as your on/off switch.
7. Fight Leaks
Your pricey, cooled air might be leaking right out of your house. Leaky windows and ducts (which carry the air to the rooms in your home) are two ways that cool air can be lost, making your air conditioner work harder. "We have found that as many as 70% of ducts are installed with leaks," says Reed. Having your ducts properly sealed and insulated could save you as much as 10% in energy costs, according to the EPA. So if you think your duct system is faulty, try to have it checked out by an HVAC (heating, ventilation and air-conditioning) technician. (One way to find one is to visit the North American Technician Excellence web site, says Reed.)
8. Be a Savvy Shopper
By far the biggest way to save is to invest in energy-efficient appliances. When shopping around, look for the Energy Star label. There are more than 35 product categories that qualify.
Of course, replacing your appliances (particularly the biggies, like a refrigerator or dishwasher) will require an upfront investment. But if you've got an old clunker, you could recoup your costs quickly. For example, if your central-air-conditioning unit is more than 10 years old, replacing it with an Energy Star-rated model could cut your operating costs by 40%.