2. [...]]]> 1. Stage your home. According to the Real Estate Staging Association, homes that are staged sell on average 78% faster than the competition. Staging is more about creating a mood than moving furniture around. Staging makes a house look bigger, brighter, cleaner, more inviting and best of all makes buyers want to buy it.

2. Don’t forget the outside. Stage the exterior of your home too. Fresh paint, updated landscaping and welcoming lawn furniture will help will a quick sale. Buyers often look for an outdoor space that they can enjoy with friends and family.

3. Make your home available. Homes that don’t get shown don’t get sold. Try to accommodate as many appointments to view your home as possible. In today’s market, there are many vacant properties that can be shown anytime. Restrictive time frames, appointments that have to be set far advance will usually result in a buyer crossing your place off the list.

4. Get real about pricing. Try to be the best deal on the market. Homes that are priced correctly will sell quicker and get a higher sale price than those that have sat on the market. Today’s educated buyers are familiar with comparable sales in the area. They will flock to a home that looks like a great deal. Competitively priced homes get the most traffic and at times even receive multiple offers.

5. Pay attention to the competition. Look at the price that homes that are similar in style, condition and location have sold for. Attend some open houses and honestly size up your competition. Try to look at your competition from the Buyers point of view removing all emotion you may have tied to your home. Keep constantly updated on changes in the market and try to stay ahead of the curve.

Assessed Value- Assessed Value is the valuation placed on property by a public tax assessor for purposes of taxation.

Closing Costs [...]]]> Buying or selling a home can be complicated enough but add in the lingo and you may feel like you are listening to a foreign language. Here are a few real estate terms decoded.

Assessed Value- Assessed Value is the valuation placed on property by a public tax assessor for purposes of taxation.

Closing Costs –Closing costs are all of the miscellaneous expenses paid by the buyer and the seller when a real estate transaction closes. These costs can include real estate commission, mortgage fees, attorney fees, transfer taxes, recording fees, and title insurance.

CMA –CMA is short for comparative market analysis or competitive market analysis. A CMA compares the prices of homes sold, homes currently on the market and homes pending to a subject property. A CMA may be prepared for a buyer or a seller to determine market value. The CMA accounts for style, size, location and other factors that make the homes comparable.

Contingency – A contingency is a provision of an agreement that keeps the agreement from being fully legally binding until a certain condition is met. Common contingencies are a buyer’s contractual right to obtain a professional home inspection before purchasing the home or obtain mortgage financing.

Deed-The deed is the legal document conveying title to a property.

Earnest Money Deposit- The earnest money deposit is a deposit made by the potential home buyer to show that he or she is serious about buying the house. This is typically made at the time of the offer to purchase.

Lock Box – A lock box is a secure key-holding device. It is used to hold a key for a home that is for sale. This allows cooperating real estate professionals to gain entry into the home. Entry is usually granted after obtaining permission from the listing agent or office.

MLS – The MLS or Multiple Listing Service is an organization that collects, compiles and distributes information about homes listed for sale. Real Estate brokers are members of the MLS. Membership is not open to general public. The MLS is used for real estate professionals to share information about homes for sale to other agents. MLS boards are local or regional. There is no nationwide MLS.

Short Sale- A short sale is when the seller arranges with their mortgage lender to accept a price that’s less than the amount they owe on the property. The lender typically agrees to forgive the rest of the loan. A short sale arrangement is made between the seller and the mortgage lender.

Title Insurance – Title insurance is an insurance policy that protects the lender’s or owner’s interest in real property. Title insurance as it is named protects against claims against the title or from unexpected or fraudulent claims of ownership. Buyers typically pay to pay for the lenders title insurance policy as part of the closing costs.

First you need to ask yourself a few questions.

1. Have you capitalized your employer’s match to your retirement savings?

If the answer is no and you [...]]]> Paying off your mortgage early and having no bills sounds like a no brainer. The answer however is not
so simple. The answer really is; it depends.

First you need to ask yourself a few questions.

1. Have you capitalized your employer’s match to your retirement savings?

If the answer is no and you are not contributing the maximum than you are throwing
away free money. You may want to consider putting your money here before paying
down your mortgage.

2. Do you have other debt other than your mortgage?

Pay off high interest credit card debit first. It makes no sense to pay off a lower interest
loan and carry high interest debt.

3. Do you have an emergency fund?

Experts suggest at least a three month supply of living expenses. Some even go as much
as twenty four months of living expenses after the turn in the economy and job market.
It makes more sense to have money set aside for a sudden loss of income before you
pay off your mortgage.

4. Do you owe more than your house is worth?

If you are upside down you are more susceptible to foreclosure. Ask yourself how much
how much you enjoy living there. Would you be willing to buy it again for more than it
is worth now?

5. Do you have life, health and disability insurance?

If you are the main source of income in your household what would happen if you were
no longer able to make the payments? Putting safety nets in place first is a wise idea.

6. Do you believe you can get better return investing elsewhere?

Paying off your mortgage is an investment decision. Ask how does paying off my
mortgage stack up with other investment options?

7. Are you thinking of retiring and want to live with the worry of a payment.

The thought of living on a fixed income can be scary. Paying off your mortgage may give you

peace of mind.

There is no right or wrong answer to this question. It really comes down to what is most important to
you. Sometimes, the answer is not based just on dollars and sense and more on what works for you,
your life, your family situation and just plain old personal preference.