Now you have some decisions to make. The most important question is to decide
if you still want to sell the home. Let’s face it, it’s a challenge to have your home
on the market; the home must always be kept show-ready and the last-minute
scramble to accommodate a potential buyer is tiring. You should also consider the
real estate market and whether current conditions will still allow you to sell in
your expected price range.

If you decide to continue with the plan to sell, it’s time to consider whether you
want to change agents or stick with the current one. There are many reasons why
a home doesn’t sell that have nothing to do with your representation, but if you
sense that the agent is not the right fit, this is the time to make a change. If the
agent isn’t the problem, then the next step is looking at the home itself and the
price. Are you overpriced for the home and its competition?

No one wants to think about an expired listing nor a home that didn’t sell—but
this is the time to take stock of the situation, adjust if necessary, and try again;
hopefully with the right combination of condition, price, and agent.

Color-blocking takes many forms—everything from a simple way to differentiate
one space from another by changing the wall shade, to artistic pairings that would
feel at home in a modern art gallery. Your style most likely falls somewhere in
between. The common theme is to try something new while changing the feel of
the room.

Before you start your project, take time to consider the desired final look.
Consider the relationship of your chosen colors and how each plays a part in the
design. Bright shades create a sense of energy while softer tones are calming. Use
blocked color to trick the eye into adding or subtracting space using light or dark
colors. Color-blocking can also be used to draw attention to architecturally
interesting elements, such as a curved entrance or crown molding.

This weekend is a great time to update your space by trying something new and
modern. Choose traditional color palettes and subtle shapes to compliment your
current design or go bold and completely change the room. Any home décor style
can benefit from the techniques of color-blocking with a little imagination,
masking tape, and a paintbrush.

What is a back-up offer? This is when the seller accepts an offer contingent upon
the first one falling through. There are many reasons why the home purchase
might not close—the buyer may fail to secure the loan, the home inspection may
find issues the two parties can’t resolve, it could even be that the Homeowner’s
Association has rules that the buyer is unprepared to accept. Whatever the
reason, real estate agents know that the deal isn’t done until it closes.

A back-up offer should be carefully executed. Both buyer and seller must be able
to pursue other options. Unless the buyer is willing to wait without seeking an
alternative property, the back-up offer should be written to allow for the
possibility that they find an alternative home in the meantime. The seller, on the
other hand, must make clear they are currently obligated to another buyer and
will consider the back-up offer only if the current one cancels.

Back-up offers can be a great tool in a fast-moving real estate market. Writing the
offer virtually guarantees the listing agent will notify you if the home becomes
available again. This gives the buyer an advantage in a seller’s market, increasing
the opportunity to capitalize on a home that fell out of contract.

1. Not Shopping Around – Not all loans are structured the same. It’s
important to compare your options. Even loans with the same interest rate
can have different costs, fees, and terms.

2. Shopping for Too Long – Interest rates change quickly and, in this volatile
market, it’s possible to lose a great interest rate by looking for too long.
Consider getting three different loan options at the same time and
choosing the best option out of those three to work with.

3. Adding Years to Repayment – Interest rates are not the only consideration
in deciding to refinance. If you are 7 years into a 30-year loan, restarting
the clock with a new 30-year loan can cost you thousands of dollars. Never
refinance with a longer-term than your current status.

4. Not Considering Your Job Stability – The pandemic has created instability
in the job market; consider your employment situation carefully before
using precious savings for loan costs. Additionally, if you are moving from a
30-year loan to a 15-year loan, your payment might go up. Make sure you
have the income to comfortably pay that increase each month.

5. Assuming Your Credit is Great – Before looking for a refinance, check your
credit score and make any adjustments before you get a surprise at closing.

This is a great time to reduce your mortgage interest rate, while rates are low.
Consider all the aspects of the refinance offer first and make sure you get the best
option to save money.

10 Home Inspection Red Flags

1. Leaky and Rundown Roofing – watch for signs of current or past water
damage.

2. Poor Drainage – drainage issues can cause serious damage to the home
foundation, siding, and basements.

3. Foundation Issues – signs of foundation problems can include cracks
around doors and windows or uneven floors. Foundation problems can cost
thousands of dollars to correct.

4. Plumbing Problems – major plumbing issues should be considered carefully
and further explored.

5. Pest Infestations – termites and other wood-eating pests can cause
extensive damage that can be hard to find and costly to repair.

6. Mold – that “musty” smell could be due to hidden mold and further
investigation should be taken as mold can be dangerous to the health of
the family. Depending on the type of mold, it can be very difficult to
remove entirely.

7. Faulty Heating System – a malfunctioning furnace can be a fire hazard.

8. Electrical Wiring – faulty wiring can cost thousands of dollars to repair.

9. Structural Damage – sagging joists, rafters, and door jambs can be evidence
of larger issues.

10.Deferred Maintenance – a home in poor condition could be hiding more
serious issues due to chronic neglect.

Homebuyers should be alert to these issues and know the costs to repair before
concluding the sale. Home sellers should address these issues before putting the
home up for sale to ensure they get the best possible sales price.

Selling your home for the first time can be just as confusing as a home purchase,
so here are a few things to remember as you navigate your home sale.

Before that first showing, it’s important to prepare. This involves not only
cleaning, decluttering, and staging the home, but also learning about your local
real estate market and finding the best agent for your needs.

Interview more than one agent and ask lots of questions. Learn about the services
they offer: do they include professional photography, video, or virtual tours? Ask
for a comprehensive market analysis (CMA) and ask each agent their suggestion
for the listing price and their method for arriving at that number. Use this
information to determine the best agent to assist you.

Once you have an agent, stay involved. Discuss the plan for showings and open
houses. Try and be flexible to allow for as many potential buyers as possible
viewing your property. Review the listing online for accuracy and stay in touch
with your agent for feedback from showings.

Once you start getting offers, respond as quickly as possible. It’s not just about
the price; watch for terms, such as length of escrow and contingencies, when
evaluating these offers. Be prepared to move so that you can take advantage of a
good offer, such as all-cash.

The most important aspect of a successful home sale is the relationship you have
with your agent. Be transparent about your needs, concerns, and goals; insist that
your agent do the same, and working together you will navigate through your first
home sale successfully.

If you have a free weekend and are looking for a satisfying project, consider a
pantry clean-out and reorganization. It’ll eliminate some stress if you can actually
see the groceries and supplies you have, and make sure they’re fresh! Here are a
few quick ways to bring order to your food pantry.

1. Use Clear Storage Containers – Using clear and stackable storage
containers with simple labels will not only make it easy to see the food but
save valuable space as well and keep the food fresher longer.

2. Use the Door Space – A great use of the pantry door is to add a storage
rack to the door itself. Use shelves and baskets to corral spices and favorite
snacks, or smaller items that can get lost.

3. Chalkboard Lists – Another great use for the inside of the pantry door, or
an area near the pantry, is to use chalkboard paint to create a place to keep
lists. Use this chalkboard to keep track of items you need as you use them,
or to keep an inventory of what you have in the pantry so it gets used
before it expires.

4. Sort the Items – Organize your pantry by use. For example, keep baking
supplies together to allow for easy access when you want to make cookies,
or organize all the kids’ snacks on a shelf that’s within their reach (or out of
reach, if it’s treats!).

5. Keep Things Well-Lit – Finally, don’t neglect the lighting in your pantry. If
you have an area which has become a “black hole,” add lighting, either
wired or battery, to help make sure you can see what’s back there.

A well-organized pantry is just a weekend away and will make cooking and
grocery shopping much easier.

Almost everyone has gone through difficult financial times at some point in life.
Perhaps a divorce or job layoff caused a glitch in the otherwise good credit of the
borrower. A computerized system only catches the credit score and number of
late or missed payments. A good credit risk can turn into a poor one simply
because a computer can’t understand the circumstances which caused the
problem—but a person can.

How Does It Work?

Before an underwriter will approve a loan, they need to understand the
borrower’s ability to pay and their overall financial situation. The loan package
will include bank statements, tax returns, pay stubs, savings accounts, and other
forms of verification.

The underwriter will review the provided documentation and any personal
statement of explanation provided for negative records. They will consider not
just the credit score, but also recent job promotions and special situations which
explain a difficult period in an otherwise perfect record of on-time bill paying. In
short, they can view the overall package from a human perspective and make a
reasonable decision.

For anyone who has had a difficult financial history due to divorce, job loss, a
death in the family, or failed business, asking for a manual underwriting review
can prove their creditworthiness and obtain a loan that would otherwise have
been out of reach.

Before you do anything else, do your research and find the right location for your
new home. Explore different communities and learn the pros and cons of each.
While seniors often move to 55+ developments, there are also many other
choices for low/no-maintenance properties.

Consider condominiums, townhouses, and patio homes as part of your research;
many of these home styles can be found in areas that are not part of a 55+
community and often offer walking trails, fitness and aquatic facilities, and other
active lifestyle amenities. In many areas, luxury high-rise buildings have become
popular; many seniors enjoy living close to the amenities of a city, in a secure
environment with a doorman.

Once you determine the new location, it’s time to sell your current home. Don’t
let your accumulated “stuff” deter you. Clean out and utilize storage facilities for
precious items you need to keep. Hire a professional moving company to pack up
and move you to the new home (or ask your younger family members to
help…make it payback for the times you helped your children move in and out of
college dorms or apartments!). Make it easy on yourself!

Moving out of a cherished family home can be an emotional decision, but the
benefits of a low- or no-maintenance lifestyle can free up your time and energy so
you have time to travel or just enjoy each day without the stress of managing a
big home and yard. Make it easier by just taking it one step at a time.

Unfortunately, many first-time homebuyers are dismayed to learn that in addition
to the large down payment, they also owe thousands of dollars in closing costs
that they might not have expected. The national average for closing costs ranges
from 2-4% of the purchase price, which adds considerably to the amount of
savings needed to buy a home. In addition, while not a closing cost, most lenders
also require a savings reserve equal to at least two months of the mortgage
payment. Needless to say, it adds up.

Let’s break these costs down.

Closing costs include fees charged by the escrow or closing attorney, as well as
costs associated with obtaining a home loan, including:

• Escrow fees
• Title search and filing fees
• Appraisal fees
• Home inspection fees
• Wire transfer fees
• Loan costs – These include what are termed “points”; each point is 1% of
the purchase price and is used as both commission for the lending officer
and as an upfront fee to reduce the loan interest rate.

These are just a few of the extra costs associate with buying and closing on a
new home. It’s important to know these costs ahead of time, so potential
homebuyers can save the appropriate amount of money needed to buy a
home. Nobody wants to be surprised by unexpected costs and end up
missing out on the perfect property.