Real Estate Resolutions for the New Year

Now that you have had a full week to exercise your New Year’s Resolutions (or not), allow me to offer some resolutions for both home sellers and buyers. I know, I know, the last thing you need is another laundry-list of resolutions, so rather than piling them on at the start of the month, I will come at you weekly with a single resolution for each buyer and seller. Even if you choose to implement only one, I think it will make your buying or selling experience less stressful. Please feel free to comment, as that is what blogging is all about (or so I’m told).

Buyers’ Resolution:

If you are going to be a serious buyer in 2011 please consider the following.

Get pre-approved with a real live person who originates loans from your geographic location.

The dot com craze has given rise to on-line loan origination. You can do it on your own schedule, from the comfort of your own home, and best of all, you don’t have to speak with anyone. The problem, however, is that you do not speak to anyone. This will be much more important now that the banks actually screen their loan applicants to verify their ability to pay back the mortgage. There is also a huge variety of loan products that may or may not fit your individual situation. In Vermont, for example, mortgages are available through a few state sponsored programs, as well as grants from some housing trust organizations. Someone with experience can quickly evaluate your personal situation and guide you to the right product or loan underwriter. You will pay a loan origination fee for any loan you get; why not take advantage of a real “live” person who is knowledgeable and can find the loan that is best suited for you?

Sellers’ Resolution

If you are going to be selling your home in 2011, please consider the following.

Prepare, prepare, prepare!!

You get one chance at a good first impression. Before presenting your home to the market, be sure that you have taken the time to prepare it for sale. Market competition is high right now and active buyers are scarce. Your home should be free of clutter, clean as a whistle, with all finishes as refreshed as possible. Prospective buyers should be able to envision their own families and lives in the home, not yours. The purchasing process is one of elimination; you do not want to be removed in the early rounds due to lack of preparation. I am not imploring you to buy new furniture set and brand new accessories, but do ask someone objective, like your realtor, to help re-arrange, depersonalize and de-clutter your home to make it the best it can be.