Archive for Sellers Information in Highlands Ranch

Top 10 Home Showing Mistakes, Highlands Ranch Sellers Make, That Lose Money.

When it comes to presenting a home to buyers, some sellers are clueless.

Oh No They Didn’t!

Here are the 10 most common responses from buyer’s agents when asked about the worst mistakes they see when presenting for-sale homes to clients:

1. Leftover homeowners

By far, one of the top offenses cited by buyer’s agents was homeowners still lingering around when agents arrived with clients to preview the home.

2. Pets and their messes

Numerous agents also cited the not-so-friendly dog and kitty encounters as a top offense.

Vicki Robinson, ABR, CRS, broker with Fonville Morisey Realty in Raleigh, N.C., says she recently was given showing instructions from a listing agent who told her the family’s “friendly dog” would be at home. But when Robinson unlocked the front door with her client for the showing, a pit bull was staring down at them from the top of the staircase, growling.

3. Bad smells

A displeasing smell can really turn buyers off. Common offenses include cooking smells lingering around the home, such as garlic, fried bacon, or fish. Also, watch for cigarette smoke and animal smells, agents say.

Take the odor seriously and do what is needed, even if it means replacing the carpet.

4. Stuffed Game Animals

Showing off the latest kill, on the wall could “kill” a sale.  You are moving, these should be the first items packed.

5. Odd home makeovers

Do-it-yourself disasters were also prevalent, like doors opening the wrong way or unprofessional paint jobs. Also, rooms not being used for their intended purposes can confuse buyers.

6. Dirt and clutter

There were a number of offenses cited when it came to cleanliness: Dirty laundry piles, unflushed toilets, dishes on the counter or in the sink, unmade beds, clothes scattered about, soiled carpets,

7. Personal information left in plain sight

Sellers should be careful not to leave in plain sight important documents that may pique buyers’ curiosity. Some agents say they’ve seen personal information like bank and credit card statements—even mortgage payoff notices—left on the kitchen counter.

8. Too dark

Dark or dimly lit houses aren’t showing the home in the best light.

9.  Business Cards From Previous Showings

All too often, sellers are proud of the many business cards from previous showings, and display on the counter.  They are just displaying something more.  Ask me.

10. Distracting photos

Watch the photos displayed on the walls too, agents warn. Tara Hayes, ABR, e-PRO, with Rector-Hayden, REALTORS®, in Winchester, Ky., recalls showing a family a home that had life-sized, nude photos hanging, which left her clients racing for the door covering their eyes.

When you hire Garard & Associates to sell your home, we will make sure that these 10 Home Showing Mistakes are not made.  We will get you the highest price in the shortest period of time, and help to avoid these and other mistakes.  Call me at 303-888-2488, or email at mcgmhg@earthlink.net.

 

Tired of Empty Brochure Boxes?, QR Codes Are Used On All of Garard & Associates Listings

As always, Garard & Associates stays up with the latest technology in order to sell your home in the shortest period of time, and at the highest price possible.  Our newest marketing techniques if using the QR code on the outside of our sign.  QR code stands for quick response.  Never will a buyer come up to the brochure box on the sign in front of your home and find an empty box with no brochures. 

Never will a buyer find an empty brochure box

Never will a buyer find an empty brochure box

 They will take their cell phone, scan the outside QR code, and will instantly get a mobile brochure, complete with photos, and description of your home.  This will be in a mobile friendly format.

We market your home 24 hours a day, 7 days a week, 365 days a year.

For complete seller representation and expert marketing, call Michael Garard at 303-888-2488, or email me at mcgmhg@earthlink.net.

Sellers Estimated Net Proceeds Sheet provided by Garard & Associates for sellers of Highlands Ranch homes

Many sellers of homes in Highlands Ranch have always questioned us about what will they get in proceeds from selling their homes.  Over the past 25 years we have come up with a great one page Sellers Estimated Net Proceeds Sheet, that covers the main items from closing a home. 

This Estimated Sellers Net Proceeds Sheet details out the Gross proceeds, then deducting for outstanding loans, then the typical closing costs, and then some credits a seller may receive from the sale.  Each property sale is different, and all figures will be adjusted based on the time of month that the home closes, but this sheet should give a good idea of what the proceeds check will be from the title company.

You can also refer back to our website to see other documents for marketing a home.

Call me at 303-888-2488, or email me at mcgmhg@earthlink.net to discuss your home’s value in todays market, or visit several of our pages at www.garardrealestate.com.

Top 10 reasons for Highlands Ranch residents to list their home over the Holidays.

Top 10 Reasons Highlands Ranch residents should List Their Home During the Holidays

  1. People who look for a home during the Holidays tend to be more serious buyers.
  2. Serious buyers have fewer houses to choose from during the Holidays and less competition means more money for you.
  3. Since the supply of listings will increase in January, there may be less demand for your particular home. Less demand means less money for you.
  4. Houses show better when decorated for the Holidays.
  5. Buyers are more emotional during the Holidays, so they are more likely to pay your price.
  6. Buyers have more time to look for a home during the Holidays during the weekday.
  7. Some people must buy before the end of the year for tax reasons.
  8. January is traditionally the month for employees to begin new jobs. Since transferees cannot typically wait until spring to buy, you must be on the market now to capture that market.
  9. You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year.
  10. You can still be on the market, but you have the option to restrict showings during the 6 or 7 days during the Holidays.

Call me at 303-888-2488, or email me at mcgmhg@earthlink.net for a private interview.

7 Myths of 1031 Tax Deferred Exchanges

For increasingly savvy investors, using the 1031 like kind exchanges can defer capital gains, and save money in the long term.  But there are some myths that lead to misinformation.

  1. Myth #1 – the 180 day rule can be extended if day 180 falls on a weekend or a holiday.   This is a hard fast rule, with no exceptions, and you must close no later than day 180 after the deed transfer of the relinquished property.
  2. Myth #2 – Residential properties transferred thru an exchange must be used as rentals.   You may acquire a second home or vacation home for personal use, as long as you follow certain guidelines.  The property must be placed in a rental pool at market rates, but you can used it up to 14 days per ear, and the exchanger must perform maintenance on the property.
  3. Myth #3 – Only developed properties qualify for like kind exchanges.  Vacant land qualifies, and in Colorado, water rights, mineral rights, air rights and some others qualify.
  4. Myth #4 – Exchangers must purchase replacement properties that are equal in value.  There is no limit, but when identifying the replacements, further rules come into play.
  5. Myth #5 – Your attorney can act as a qualified intermediary.  Most of the time this is no, but because of ownership of the property during the exchange, we strongly encourage a special 1031 company.
  6. Myth #6 – When you exchange, you defer all tax liability.  If there is “boot” in the transaction, this will be fully taxable, and there may be recapture taxes.
  7. Myth #7 – A taxpayer can’t exchange with a related party.  You can, but the relative will be bound by more tax constraints of at least 2 years.

This gives some basic ideas, and busts some of the myths about 1031 exchanges, and we again, recommend discussing your individual situation with legal advise and or tax advise.

We always welcome your comments and responses, or you can call me at 303-888-2488.

Top 10 things Buyers want to know about a Home

Top 10 things buyers want to know about a house

1.   Location and neighborhood

2.   Price or price range

3.   Appearance (including a picture)

4.   Layout or floor plan

5.   Total number of rooms

6.   Number of bedrooms and bathrooms

7.   Size of lot and square footage of house

8.   Details about the community

9.   Amenities and features

10. Phone number for more information

Let me know if you need any more information about how we can market your home.

303-888-2488

A Friendly phone number to help avoid Colorado foreclosure

According to the Colorado Foreclosure Hotline, 4 out of 5 homeowners who meet with a housing counselor successfully avoid foreclosure.  The number to call in Colorado  is:

1-877-601-HOPE (4673)

This is a free service, no equity scammers are on the other line, no investor vultures are on the other line, this truly is a great service for those in need of answers to many questions regarding loans.  They have assisted over 10,000 homeowners since Oct 11, 2006.

From 2007-2008 they had these resolutions:

  1. Brought mortgage current  15%
  2. Initiated forbearance/repayment 10%
  3. Helped with Short Sales  23%
  4. Helped with Bankruptcy  14%
  5. Mortgage modified  7%
  6. Other types of resolutions  14%
  7. Mortgage was foreclosed  17%

Give me a call for some other free advice, or also look them on their website at:

ColoradoForeclosureHotline.org

I always welcome comments and responses.  You can always call me directly at 303-888-2488.

For Littleton Home Sellers: Top 5 Home Improvement Projects, Based on Cost and Return on Investment

According to a HomeGain.com nationwide survey, the top do it yourself home improvements that us Realtors recommend to home sellers,based on improvements under $5000, that benefit the sellers the most when they sell their home are as follows.

  1. Cleaning and De-cluttering, with a $200 cost and a $1700 price increase, 872% Return on Investment (ROI)
  2. Home Staging, with a $300 cost and a $1780 price increase, 586% (ROI)
  3. Lighting and brightening, with a $230 cost and a $1300 price increase, 572% (ROI)
  4. Landscaping, with a $320 cost and a $1500 price increae, 473% (ROI)
  5. Repairing Plumbing, with a $385 cost  and a $1250 price increae, 327% (ROI)

So, Littleton sellers who make these recommended improvements, often get their homes sold faster and at higher prices.  Rounding out the top 12 list of low cost improvements are:

  1. updating electrical
  2. replacing or shampooing carpets
  3. painting interior walls
  4. repairing damaged floors
  5. updating the kitchen
  6. painting the outside of the home
  7. updating the bathrooms

So when thinking of selling your home in todays Denver market, think again about a little extra investment to make your home stand out.  Call me to discuss what we can do to maximize your investment.

I always welcome comments and responses.  You can always call me directly at 303-888-2488.

List of Highlands Ranch Homebuilders, Part 2, the Condos and Townhomes

Here is the partial list of home builders who built Condominiums, Townhomes, Patio Homes or Paired Homes within Highlands Ranch.

  1. Mission Viejo, they started the community
  2. Shea Homes, continuing to build out the community
  3. Storck Development
  4. Richmond Homes
  5. Oakwood Homes
  6. Torino Development
  7. Tri-Cor, also the Feld Company
  8. Century Communities
  9. Stites
  10. Writer
  11. Trimark
  12. Fairfield Homes, a story for another article

If there are any other builders that I am missing, I would welcome the comments.

Do I need help with a Short Sale of my home in Highlands Ranch?

In todays financial real estate market in Highlands Ranch, if you purchased in the last 3 years, or just recently refinanced, and you have a loan that has a balance above the current market value, there may be solutions for you.  When you go to sell your home, and there is no equity, after expenses, and you want to move on with your life, but don’t have the money to pay the deficit.

This is where a short sale comes into play.

The key thing to remember is that this will take time, several months, and it won’t be completed within our normal 30 day closings; which the customary timeframe in the Denver real estate market.

Keeping the lender, or lenders informed is critical.  There will be lots of paperwork, and lots of followup phone calls. Fortunately most of the numbers to your lenders are 800 numbers.

  1. You will need to prepare a hardship letter as to why you cannot pay the full balance
  2. You will need to fill out financial forms, to show you have no money
  3. You will need to fill out authorization forms for your “people” to contact the lenders
  4. You will need to show several months of bank statements, to show limited money
  5. You will need a listing contract to prove you tried to sell at market value
  6. You will need the accepted real estate contract to show the price the buyer will pay
  7. You will need Title company information, as they will forward the money
  8. You will need a prepared preliminary HUD
  9. You will need to provide anything else the lender needs
  10. If there is a different Junior lienholder, you will need to provide 1-8 above, yes, again
  11. You will need an experienced real estate agent to guide you through more conract verbage

We have advised and consulted with many homeowners like yourselves, and our office is located in Highlands Ranch to set up a meeting. 

I always welcome comments and responses.  You can always call me directly at 303-888-2488.

Robocalling is now out of Business

New Rule Prohibiting Unwanted “Robocalls” to Took Effect on September 1

Now prerecorded commercial telemarketing calls to consumers – commonly known as robocalls – will be prohibited, unless the telemarketer has obtained permission in writing from consumers who want to receive such calls, and I know most people will not agree. 

The new requirement is part of amendments to the agency’s Telemarketing Sales Rule (TSR) that were announced a year ago. After September 1, sellers and telemarketers who transmit prerecorded messages to consumers who have not agreed in writing to accept such messages will face penalties of up to $16,000 per call.  Ouch.

The rule does have some exceptions, as it does not prohibit calls that deliver purely “informational” recorded messages – those that notify recipients, for example, that their flight has been cancelled, an appliance they ordered will be delivered at a certain time, or that their child’s school opening is delayed. For the same reason, the rule amendments also do not apply to calls concerning collection of debts where the calls do not seek to promote the sale of any goods or services.  We know the debt collectors have good lobbyists.

In addition, calls not covered by the TSR – including those from politicians, banks, telephone carriers, and most charitable organizations – are not covered by the new prohibition. More from the lobbyists. 

Under a previous rule that took effect on December 1, 2008, telemarketing robocall messages by businesses covered by the TSR must tell consumers how to opt-out of further calls at the start of the message, and provide an automated opt-out mechanism that is voice or keypress-activated. Prerecorded messages left on answering machines must also provide a toll-free number that connects to the automated opt-out mechanism.

After September 1, consumers who receive prerecorded telemarketing calls but have not agreed to get them should file a complaint with the Commission, either on the donotcall.gov

Web site or by calling 1-888-382-1222, just don’t use a robocaller.

A link to the related Federal Register notice can be found on the FTC’s Web site at:  http://www2.ftc.gov/opa/2008/08/tsr.shtm.

 At Garard & Associates, we never use robocallers, just a real voice.

Lead can kill a sale of a home in Denver

We always talk about Lead based paint in older homes, but some facts are needed to clarify things when dealing with home sales in Denver.  The magic date is 1978, and applies to a home/condo that you may buy, sell, rent or even renovate.

Landlords and Sellers must provide to tenants and buyers a disclosure of what is known, and everyone has to sign this  BEFORE a contract is in effect.  There is also a EPA packet,  EPA747-k-99-001, that is titled “Protect Your Family From Lead In Your Home” and must be provided.  Disclosure and knowledge is key.

Here is a fun fact.  Why did the government pick 1978?

Answer:  The paint industry and the government stopped adding  lead in paint  in 1953, and then figured there would be a 25 year supply that would run out in 1978, hence the date.

Back to the cold hard facts.  Lead is dangerous to babies, young children, and adults, so everyone that comes in contact with the paint, the dust, the chip, and the soil can be affected.  There is a number to call:  1-800-424-LEAD (5323) for other safety measures, or visit their site at www.epa.gov/lead, or www.hud.gov/offices/lead/.  The regional EPA office in Colorado, Region 8, and can be reached at 303-312-6021, or call long distance to Washington at 1-202-755-1785.

If you have a home built after 1978, things should be safe regarding Lead.  But if you are looking to buy a home in the Denver suburbs, like Littleton or highlands Ranch you just need to worry about other items, like covenants, zoning, asbestos, radon, mold, bentinite soil, runoff, air leaks, and a long list of other concerns.  If you want, we can go over your questions at a meeting.

Denver Tops Rebounding Housing Markets

It is always great to see the national media take notice of us in the great state of Colorado.  Here is a link to the NBC Today Show with Barbara Corcoran highlighting Denver as the number one recovering housing market, saying “Everything about Denver is pointing UP, UP, UP.

http://fourmymls.mymls.com/default.asp?page=news&article=0906_rebounding_house_markets&utm_source=home_news&utm_campaign=0906

When to turn your existing Denver home into a Rental Property

Home buyers in Denver and its suburbs are now thinking of taking advantage of both low interest rates, and a good supply of homes to upgrade, change or move up to another home.  This is great, and a few buyers who do NOT need to first sell their home, are thinking of becoming a landlord, keeping the old homestead, renting it out, keeping the income, and selling in the future.  There maybe a big financial windfall in the future, as we all know real estate in Denver will go up again.

But some things to think of first.  Do you still have the financial capabilities to pay on the old homes loan, as of May 10, 2009, underwriters may not consider any rental income, unless:  yes there is fine print,1)   this move was a relocation with a current or new employer, over a considerable distance.  Then they will need a copy of a real lease, even needing a copy of the security deposit.  or 2)  you the borrower have a loan to value ratio of 75% or less in the old home, determined by a current appraisal, or comparing the unpaid principle balance to the original sales price when you first bought.

Then the IRS needs to be considered, as you now will change a personal residence into a income property, and what most people forget is that the potential tax free exchange, the non 1031 exchange, may be lost.  More thoughts:

1.  Do you plan to be a landlord for over 3 of the next 5 years?

2.  Do you need the equity you have built up in the current home?

3.  Are you going to have positive monthly cash flow?

4.  Will you be a long distance landlord?

5.  Will you mind having a tenant potentially damage your home, and not have the security deposit to cover expenses?

6.  Do you love depreciation deductions?

7.  Do you love having someone else pay the mortgage?

It can be very easy to go over general numbers to see what works with you, your home, and your finances.  Give me a call, at 303-888-2488.

Staging a home in Denver really works

In todays Denver real estate market, a home must be staged properly in order to stand out in the crowd. Remember your home is competing with other homes for sale, and also the new home construction.  If it looks and is decorated exactly as you currently live in the home, the buyers looking will pass you by, and buy the competition.
If you are in direct competition with the new home builders, remember they have all the tools at their disposal, they have a professional home designer staging all their model homes, room by room.  They do this 7 days a week, from 10-6, and they know it works.
My company works with Star Interior Solutions, an award winning firm that transforms rooms and homes through accessorizing and redesigning  into saleable homes that get them sold faster than non staged homes.
The owner, Erica Starich, has 5 quick staging strategies just for the kitchen.
1. Clean everything, this is the most important room in the home.  Seems simple.
2. Hide the trash can, rugs, and pet dishes, especially those that may have unwanted smells.
3. Countertops need to be cleared off. You need to show off the amount of counterspace you have, no one has too much.
4. Refrigerators;  remove all art and magnets, you are selling your home, not presenting an art show.
5. Cabinets;  replace or update the hardware, and or paint the cabinets if they are beyond “dated”.
In the Denver real estate market, buyers buy what they can see, not what you promise.

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