Signs a Home Has Potential

Signs a Home Has Potential

The best deals on homes these days are often on properties that aren’t perfect.



Home shoppers looking for a great deal should keep these factors in mind when they are looking for a place with potential:



· Location, location, location. It’s still true that you get a better deal when you buy the worst house in a great neighborhood than you do when you buy a fancy house in a not-so terrific neighborhood.



· Less than 50 years old. Properties older than a half decade are likely to have more fundamental problems — like aging wiring, inadequate plumbing and sagging foundations.



· Livable floor plan. Buyers should select a home with a basic design they can live with. Once they start moving walls, they’re into big money.



· Light. Houses with the most potential have plenty of natural light.



· Good storage. Adding storage isn’t cheap, so it’s smart to choose a property that already has it.



Source: MSN.com, Marilyn Lewis (04/12/2010)

Emily Lee

606-499-7836

with

The Realty Group II

423-869-5111

 

 

TAX CREDIT!!!!!!

Just a reminder to anyone interested in the first-time homebuyers tax credit or the current homeowners tax credit you must have a contract by April 30!!!!!

call me with any of your real estate needs!

EMILY LEE
606-499-7836

http://www.harrogatetnhomes.com/
http://www.emilyleerealty.com/

REALTY GROUP II
423-869-5111

A Good Time to Buy a High-End Home

A Good Time to Buy a High-End Home

Some of the best housing deals are on high-end homes, many over $1 million. Some of them need TLC or they aren’t in the most-coveted locations. But there are plenty of desirable properties and lots of sellers who are getting impatient.



Buyers with cash have the best opportunities. Buyers who need a mortgage should move especially quickly. With the Federal Reserve ending its purchases of mortgage securities this month, the mortgage market is likely to rise from its current low level. Even if prices fall further, the rising cost of borrowing could eliminate any savings.



As Kenneth Rosen, chairman of the Fisher Center for Real Estate and Urban Economics at the University of California, says, this is a "very good time to be a buyer at the high end."



Source: The Wall Street Journal, Nick Timiraos and James R. Hagerty (03/27/2010)

EMILY LEE

606-499-7836

REALTY GROUP II

423-869-5111

Current Home Owners: Check Out HouseLogic

HouseLogic Offers Smart Advice to Owners

The NATIONAL ASSOCIATION of REALTORS® this week launched HouseLogic, a new, comprehensive consumer Web site designed to help home owners make smart decisions to maintain, protect, and increase the value of their homes. HouseLogic will help consumers take responsible actions pertaining to what is likely the largest investment of their lives.



“Backed by the resources and industry insights of NAR and its REALTOR® members, HouseLogic will engage and involve consumers throughout the lifecycle of homeownership,” said NAR President Vicki Cox Golder. “It makes sense that, as the first, best source for real estate information, NAR should collaborate with today’s consumers to help them make the most out of owning a home. HouseLogic will help us do that.”



The free Web site helps home owners plan and organize their home projects and provides timely articles and news; home improvement advice and how-to’s; and information about taxes, home finances and insurance.



“Unlike other homeownership Web sites, HouseLogic helps consumers view their home through a financial lens and make smart, informed home improvement investment decisions,” said Golder. “Families can set goals for saving money on their home or increasing its value, and easily track the progress they are making on those goals.”



Registered users can save relevant information, create to-do lists, and set project reminders. The Web site can also be customized for individual owners depending on how handy or ambitious they are regarding home projects; how much money they want to spend or save; where they live; and their priorities, such as increasing the value of their home or improving their neighborhood.



HouseLogic also empowers home owners who want to get more actively engaged in shaping community life, advocating on neighborhood and homeownership issues that matter most to them. The site provides users with the tools and know-how to effect change, such as establishing a neighborhood watch program, building a community playground, or participating in city or county planning efforts.



“For more than 100 years REALTORS® have been bringing America home,” said Golder. “HouseLogic takes owning a home to the next level, partnering with consumers to truly help people build their futures through homeownership.”



Visit HouseLogic at www.houselogic.com


— NAR

Emily Lee, REALTOR®

606-499-7836

http://www.emilyleerealty.com/

Romantic Valentine's Day at Home

Pamper your Sweetheart without Spending a Lot of Money.

By Nina Callaway, About.com Guide

Why would you want to spend Valentine's Day at home? Perhaps the real question is why wouldn't you! You can do something romantic and special for your sweetheart this February 14th, without spending a lot of money. Most engaged couples are watching their pennies and need to celebrate in a romantic way without breaking the bank. And since many restaurants and theaters are overcrowded and overpriced because of celebrating couples, you'll avoid the crowds, and increase the intimacy at home. Here are some ideas for celebrating Valentine's Day at home where your sweetheart will feel truly special.




Romantic Valentine's Day at Home


•A Fireside Picnic Have the sofa pulled up in front of a roaring fire, with some champagne on ice. For an added touch, serve strawberries to bring out the champagne's flavor, or drop pomegranate seeds into the glass to tinge the bubbly pink. If you're the cooking type, make a homecooked Valentine's Day meal. If not, order out from your favorite place, but be sure to ditch the containers and replate the meal elegantly on nice plates. Don't forget great music playing on the stereo!










•Spa Night. When your sweetie gets home, draw a hot bath filled with rose petals. (Since roses are so expensive around Valentines Day, you can ask your florist for a package of plain rose petals, short stemmed roses, or for "seconds" -- ones that are slightly bruised since you won't be giving them in a traditional way.) Have a glass of wine and some chocolates to nibble on by the side of the bathtub.






Meanwhile, prepare the bedroom. Line the bed with towels fresh out of the dryer so that they're warm. Get a basin full of warm water near the bed, several washcloths and some great spa products. Start off with an exfoliating rub like the Bliss Hot Salt Scrub. Wash that away, then massage in a great moisturizer like Panhandle Girl's Bettie Spice. You might also want to throw in a foot rub for extra brownie points. (Many people have creams and exfoliating rubs at home already; you don't have to spend extra money on this step.) Afterwards the two of you can enjoy takeout in bed while you watch a romantic movie.

Emily Lee, Realtor®

606-499-7836

EmilyLeeRealty.com

Decorate for Valentine's Day!!

Do you want to give your beloved a surprise this Valentine's Day? What can be a better idea than to decorate your home especially for him/her? We are here to help you in this task. The romantic home decor ideas given below will tell you how to decorate your home on Valentine's Day…

• First of all, clean up your home thoroughly. Remove unnecessary clutter and make it look inviting.

• Buy aroma candles of all shapes and sizes and just before your partner is about to comer home, light every one of them, throughout the house.

• Now is the turn to buy some balloons, heart shaped ones, that to in red color. Write a small message on each of them and spread them in different rooms of your home.

• Flower decorations are an all time favorite and continue to be so, even today. But the flowers should be of your partner's liking and need not be red roses only.

• Make a carpet of red rose petals for your partner, leading from the door to the place in your home, you wish to take him/her first.

• Set a table for just the two of you and keep a lighted candle in the middle, along with a bottle of wine.

• Have soft romantic music playing in the background.

Follow all these tips for decorating your home on Valentine's Day and relax. Your job is complete, now the rest of the work will be done by your partner.

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Emily Lee

with

Realty Group II

 

5 Feng Shui Concepts to Help a Home Sell

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To put the best face on a listing and appeal to buyers who follow feng shui principles, keep these tips in mind.

1. Pay special attention to the front door, which is considered the “mouth of chi” (chi is the “life force” of all things) and one of the most powerful aspects of the entire property. Abundance, blessings, opportunities, and good fortune enter through the front door. It’s also the first impression buyers have of how well the sellers have taken care of the rest of the property. Make sure the area around the front door is swept clean, free of cobwebs and clutter. Make sure all lighting is straight and properly hung. Better yet, light the path leading up to the front door to create an inviting atmosphere.



2. Chi energy can be flushed away wherever there are drains in the home. To keep the good forces of a home in, always keep the toilet seats down and close the doors to bathrooms.



3. The master bed should be in a place of honor, power, and protection, which is farthest from and facing toward the entryway of the room. It’s even better if you can place the bed diagonally in the farthest corner. Paint the room in colors that promote serenity, relaxation, and romance, such as soft tones of green, blue, and lavender.



4. The dining room symbolizes the energy and power of family togetherness. Make sure the table is clear and uncluttered during showings. Use an attractive tablecloth to enhance the look of the table while also softening sharp corners.



5. The windows are considered to be the eyes of the home. Getting the windows professionally cleaned will make the home sparkle and ensure that the view will be optimally displayed.



Source: Sell Your Home Faster With Feng Shuiby Holly Ziegler (Dragon Chi Publications, 2001)

Emily Lee, REALTOR®

606-499-7836

EmilyLeeRealty.com

HarrogateTnHomes.com

Realty Group II

423-869-5111

~*~

4 Reasons to Sell Now

Selling a property in this tough market can seem like a challenge. Here are four factors that actually make this a good time to post a For-Sale sign.

Sell low and buy low.
Because all property values are down, the loss on the property a home owner sells is really only a paper loss because the next property he buys also will be a bargain. If he buys smartly, when prices come back up in a few years, he’ll be in better shape.


Down-payment help is widely available.
While nothing-down loans have disappeared, it is easy to find down-payment assistance for lower-income and first-time home buyers. Programs vary all over the country, but one good way to find them is to search online for “down-payment assistance programs” and the name of your region.


Your uncle has money to share.
Besides the $8,000 first-time home buyer tax credit and the $6,500 move-up credit, there are an array of energy tax credits that can make home improvements pay off in cash.



Good help is available.
Really talented real estate practitioners, contractors, and designers are available and eager for business.


Source: McClatchy Tribune, Kate Forgach (02/07/2010)

Ready to Sell???

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Emily Lee, Realtor®

606-499-7836

Realty Group II

423-869-5111

Make Under $30,000 a yr.?

If you make under $30,000 a yr. did you know that you may be eligible for a 100% financed loan? That means no down payment! You may also be able to get a 1% interest rate!!! Stop paying rent and throwing your money away!!

Call or E-mail Me Today for More Information and How to Get Started!!!

EMILY LEE 606-499-7836
www.EmilyLeeRealty.com

Ten Inexpensive Ways to Wow Buyers

Now is the time for home owners contemplating a spring sale to spruce up their properties in anticipation of what Mike Larson of Weiss Research calls a potentially vibrant home-selling season. "If you have been beating your head against a wall, this is going to feel a lot better,” he jokes.Here are 10 cheap ways to make a property more attractive to shoppers.

1.Improve first impressions. Touch up the paint on the front door and other areas that buyers see first.

2.Clean up the landscaping. Trim the hedges and trees and plant some annuals in the flowerbeds.

3.Paint the interior. A coat of light yellow or cream with contrasting white woodwork looks fresh and clean.

4.Refurbish the floors. Buff the hardwoods. Install new carpets – or at least get them professionally cleaned.

5.Take care of the big problems. If the house needs a roof or the front stoop is crumbling, get them fixed.

6.Buy warranties. Putting appliances under warranty gives home buyers a secure feeling.

7.Improve energy efficiency. New windows or improved insulation tell a potential buyer the seller is on top of things plus they come with tax benefits.

8.Replace light fixtures. Updated fixtures, especially at the entrance way and in the foyer, create a good first impression.

9.Buy a stove. Home owners whose kitchen isn’t top of the line can jazz it up for a few hundred dollars by buying a new stove, which gives the room a fresh feel.

10.Tidy up the bathrooms. Get rid of mildew, replace caulking and replace stained sinks.

Source: U.S. News & World Report, Luke Mullins (01/21/2010)

5 Things to do Before Putting Your Home on the Market

1.Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin.

2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.

3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.

4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.

5. Spruce up the curb appeal. Pretend you’re a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?


Provided by Realtor.com

7 Tips for First Time Home Buyers

1. Look up local listings to see what price range houses are going for. Follow this link to Realtor.com.



2. Check to see if you can afford a monthly payment by using a mortgage calculator. Follow this link to a mortgage calculator.



3. To see if you can afford this mortgage payment use an affordability calculator. Follow this link to an affordability calculator.



4. Find a buyers agent to represent you. You will need help you through your home search, the ins and outs of finding something in your budget that suits your needs, going through the offer, inspection and closing steps that are involved. If you don't get a buyers agent to represent you the agent is automatically working for the seller.



5. Get pre-approved!!! Never start out your search not knowing if you can even get a loan or not, this will also make your offer to a seller more appealing.



6. Start saving!!! The more earnest money you can put down on a contract the more serious your offer will seem to a seller.



7. Ask about title insurance fees, survey charges, escrow fees, and loan origination fees, all of this may be due at closing so it’s good to know ahead of time what you’ll be paying for.

5 Common First Time Home Buyer Mistakes

First time home buyers, more commonly known as “property virgins”, are characterized for having unrealistic expectations on buying real estate.

They want everything for a next to nothing price.

The average first time home buyers are ages 24-34 and this is the first real investment they have ever made.

Now with the market leaning more in their favor, opening the door to many who 3 years ago could never have afforded a home, they face a new struggle of competing against investors on getting that great deal on a house.

Investors have spent more time researching the market, have more money to put down and don't take as long to make a decision on to buy or not to buy.

Below I have attached a list of the 5 most common mistakes first time home buyers make, provided by Real Estate Checklists and Systems.

To help you avoid making a "property virgin" mistake call a local Realtor.
To contact me: e-mail EmilyLeeRealty@yahoo.com or call 606-499-7836


5 Common First Time Home Buyer Mistakes

1. They don’t ask enough questions of their lender and end up missing out on the best deal.

2. They don’t act quickly enough to make a decision and someone else buys the house.

3. They don’t find the right agent who’s willing to help them through the home buying process.

4. They don’t do enough to make their offer look appealing to a seller.

5. They don’t think about resale before they buy. The average first-time buyer only stays in a home for four years.

Source: Real Estate Checklists and Systems

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REALTOR® Magazine-Daily News-Strategies for Getting Out of a Timeshare

REALTOR® Magazine-Daily News-Strategies for Getting Out of a Timeshare

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