There are always appropriate steps to investing in real estate. Here are 6 to avoid:
Mistake 1: Putting the home on the market before it is ready. Most times this happens because the seller gets impatient or is a procrastinator and has pushed himself up against a moving deadline without getting the pre-sale work done. So it comes on the market with the horrible carpet (that gets replaced during the marketing of the home); or they are painting it while it goes on the market. Presentation is everything—so get the work done before marketing the property.
Mistake 2: Over improving the home for the neighborhood. This happens with additions, bump outs, and upgrades that make the home stick out from among its competitors so much that it is an anomaly, instead of a nice addition to the community.
Mistake 3: Pricing the home based on what the seller wants to net. This pricing strategy always ends in failure. Sellers can control the “asking” price, but they do not control the “sales” price. The market does. It does not matter what the seller wants, the price is determined by the black-and-white, matter-of-fact reality of the market.
Mistake 4: Getting emotionally involved in the sale of the home. This is one of the biggest challenges home sellers face when putting their house on the market. Once you decide to sell your house, it is no longer a home, but a commodity. It needs to be prepared as a commodity, marketed as a commodity, and priced as a commodity. It does not matter what you “want,” only what eh market can bear on pricing. People are going to come in to kick the tires, so to speak, and you can not get emotional about how they may or may not appreciate the nuances of your home of 7 years.
Mistake 5: Trying to cover up problems, or not disclosing them. Most states have a property disclosure/disclaimer form—use it wisely. Just because you disclaim does not mean you cannot be sued later for the leaky basement, or dilapidated heating/air system that is discovered 30 days after settlement.
Mistake 6: Not getting your ducks in a row before trying to sell. This would involve financing, reading the fine print on your current mortgage to ensure no pre-payment penalties, not listening to the particulars of your local market, etc. If your local market is dictating lower home prices, then lower it early, not later—it will cost you more. If the local market dictates selling your home first, then buying second, do it in that order, or vice versa.
Avoiding these mistakes is not that difficult. There are plenty of resources out there and your real estate professional can help you step over the pitfalls. Do the research early, and listen to all the professionals who bring their expertise to the table and help you avoid costly mistakes in the process.
Stylish, Sustainable Fall Interior Design Ideas
When you think of the colors associated with fall, green does not necessarily come to mind. Environmentally speaking, however, it should. There is no better time than now to lessen your home’s impact on the environment and change the way you decorate and live.
These days, you can find stylish, eco-friendly design elements for every room in the house. And, contrary, to popular belief, going green does not mean you have to sacrifice style for sustainability. The 2 can coexist quite effortlessly.
You can start simple by dressing your bed in luxurious sheets, throws and comforters made from fabrics such as rich, renewable bamboo or soft, organic cotton. Cover your floors with formaldehyde-free carpets constructed of recycled fibers or select a natural material, like stone, slate or even concrete.
Do not stop there. Buy furniture made from sustainably harvested wood or, better yet, visit local secondhand shops and re-purpose. Or, look around your own home and see what you already have that can be adapted for a new use. You would be surprised what a little creativity and some good old-fashioned elbow grease can do.
If you are looking to add bold, fun color, paint fits perfectly into this overall green scheme. It is an inexpensive, effective and, most importantly, environmentally-minded way to change the look and feel of an entire room. Many paint manufacturers now offer coatings that contain few, if any, volatile organic compounds (VOCs), or vapors that are released from paint as it dries.
Many home improvement products are also Indoor Air Quality certified by The GREENGUARD Environmental Institute, a nonprofit, industry-independent organization that certifies indoor products that meet satisfactory indoor air emissions standards.
Keep in mind that greening your home, inside or out, does not happen in a matter of minutes or even overnight. It is an ongoing process. The limit to how green your home can be is up to how willing you are to adjust your lifestyle. The choice is yours. Tiny changes add up to make a big overall impact on the environment.