What is your home worth?

We have added a new website to our portfolio:  Http://www.CentralCorridorHomeValues.com.  As specialists in real estate in St. Louis County’s Central Corridor (the communities that line Hwy 40 from Clayton to Chesterfield), we have created a new and unique web based program to help area consumers.  At CentralCorridorHomeValues.com, you can fill out a simple form which takes about 4 – 5 minutes.  Upon completion, we will analyze your immediate area and send you details about recent home sales and how they affect the value of your property.  If you wish, we can create a more detailed analysis of your homes value by viewing your property.  

Take a look at the site.  I think you will find it easy to use and informative.  

Personalized Service from Nolting Real Estate

The mission of the Nolting Real Estate team is to invest in the lives of homeowners by providing reliable, innovative, and personalized service to maximize the economic and personal value of their real estate investment and to earn their trust in order to build lifelong business relationships.

We have been doing a series on our corporate mission statement for a few weeks now.  I started by discussing the role of a team in real estate transactions.  I then fleshed out the concepts of reliability and innovation when it comes to servicing our clients.  Today, I would like to address what we mean when we talk about providing personalized service.  

Personalized service is important for a real estate brokerage.  We try to recognize that every client is a special individual who wants to be treated as such.  He has his own unique personality, wants, and reasons for buying.  We work not to sell you a house, but to solve your unique problems.  

We start by listening intently.  We try to put ourselves in our clients’ shoes, trying to grasp their point of view.  We work hard to treat our clients’ not the way we want to be treated but the way they want to be treated.  Our clients’ have different reasons to buy than we may have.  They see the world from a different point of view.  

Let me give you an example.  I had a client come to me recently after having a bad experience with a realtor.  This realtor specialized in homes in the St. Louis west county area that were priced around $250,000.  The client was looking for homes from $50,000 to $250,000 that required a decent amount of work.  The husband is a handy guy.  They were willing to do a great deal of work to improve the house.  Obviously realtors make more money selling $250,000 houses than $50,000.  The other realtor was not sending listings at the bottom end of the spectrum.  Why?  Because the realtor wanted a fatter payday.  

I listened intently to the consumer’s story.  And I assured them that I would send them exactly what they asked for.  As it turned out, they purchased a home for around $190,000 and now intend to list their old home with me.  Nolting Real Estate gives personalized attention to its clients because it is the right thing to do.  I am growing my business using referrals.  If I treat my clients as they wish to be treated (not as I wish to treat them), I gain their respect and gain their referrals.  

Do you want to be treated in this way?  Give us a call at 636-391-9997 or visit us on the web at http://www.NoltingRealEstate.com.  

Housing price hike hits 22-year high

Housing prices rose 8 percent in the St. Louis area last year, the biggest gain locally in 22 years, according to a federal report released Wednesday.

2005 was the best year ever for St. Louis home appreciation. The boom is still on.

We're catching up a bit, but we're still way below average," said Jack Strauss, an economist at St. Louis University. "We're still a long way from being overpriced."

St. Louis' 8 percent increase ranked the region 154th of 275 metro areas. The U.S. average was 13 percent.

Mortgage rates which are still historically low contribute significantly to this appreciation.

The median price of a house in the St. Louis metro area was $139,400 in 2005, up from $128,700 in 2004, according to the National Association of Realtors. The U.S. median was $207,300 in 2005, the association said.

Below are the top five U.S. metro areas in the terms of the increase in housing prices in 2005.

1. Phoenix 39.70%

2. Naples, Fla. 38.90%

3. Cape Coral, Fla. 36.20%

4. St. George, Utah 35.30%

5. Prescott, Ariz. 31.90%

154. St. Louis 8.00%

U.S. average 13.00%

Why St. Louis?

Whether you are relocating to St. Louis and trying to find out more about the city, or you are a St. Louis native looking for an easy way to access information about your favorite local attractions, there is a new web page that proves to be an excellent resource. Russell Nolting, president of St. Louis-based Nolting Real Estate is now hosting WhyStLouis.net, a webpage promoting all that St. Louis has to offer. The page was originally created to help attract education professionals to the St. Louis area. However, with everything from links to the St. Louis Cardinal's webpage to local data on the cost of living, WhyStLouis.net will be one you want to bookmark for info on life in St. Louis.

St. Louis' housing affordability No. 2 among major U.S. metros

St. Louis Business Journal - January 7, 2005

St. Louis ranked the second most-affordable large metro area in the country on a recent survey by the National Association of Home Builders.

The metropolitan area had a housing opportunity index of 83.7 for the third quarter, which means 83.7 percent of homes sold in the period were affordable to families earning the area's median household income of $65,900. The median sales price during the period was $119,000.

St. Louis ranked behind only Grand Rapids-Muskegon-Holland, Mich., which was the most affordable metro area with a population above 1 million. Grand Rapids' affordability index was 86.

St. Louis ranked also ranked No. 15 nationally and No. 12 among Midwestern cities.
Nationally, Lima, Ohio, was the most affordable market, where 90.5 percent of homes sold were affordable to families earning the median income of $52,500.

Eighteen of the top 25 affordable metro areas in the nation were in the Midwest, while 19 of the least affordable metro areas were in California. The least affordable metro in the county was Santa Barbara-Santa Maria-Lompoc, Calif., where less than 5 percent of homes sold were affordable to families earning the median income of $64,700. The median sales price in that area was $447,000. Chicago was the least affordable metro in the Midwest.

Talking Houses?

I'm pretty excited about a new marketing program that I am introducing to Nolting Real Estate. If you have been reading my Blog for a while, you know that I am always searching for the best way to market real estate for my clients.

The talking house program has been around for quite a while, but it has been recently tweaked and improved. The homeowner, who has listed with Nolting Real Estate, gets an AM transmitter placed in a front room of his house. This transmitter continuously emits a 5 minute broadcast about the house. Anyone driving by can tune into the AM station (we all have AM radios, right?) and hear details about the house.

We are always working to be better!!

Our Mission (part 4)

The mission of the Nolting Real Estate team is to invest in the lives of homeowners by providing reliable, innovative, and personalized service to maximize the economic and personal value of their real estate investment and to earn their trust in order to build lifelong business relationships.

It’s easy to get service today. In economics and marketing, a service is the non-material equivalent of a good. Service is easy to provide. But how do you provide innovative service? This is an entirely different story. Innovation is the implementation of a new or significantly improved idea, good, service, process or practice that is intended to be useful.

What is Nolting Real Estate doing that is innovative?

Let me start by saying that real estate has changed. Take a look at these stats:
70% of homebuyers used the Internet in 2004.
80% of homebuyers used the Internet in 2005 to research homes for sale.
The trend of using the internet is growing – and fast! What does your agent have to offer? To be quite honest, a significant number of agents aren’t prepared for this new model of real estate. According to a National Association of Realtors poll conducted in 2005, only 26% of realtors use a PDA and only 20% of realtors use a digital camera. Did you know that homes listed on the internet that have multiple photos are viewed 299% more than homes with 1 photo or less. Did you know that the average internet consumer has to wait 54 hours to receive a response from an agent? Did you know that most agents spend 7 times more money on print advertising that they do on online advertising.

Do you see my point? Most real estate agents aren’t cutting it! They are spending YOUR MONEY in places that don’t amount to anything. They are ignoring the most important part of the game – technology!

What are we doing that is different? We are on the technological cutting edge. We use our technology the right way. We don’t carry BlackBerry phones in order to impress our clients – we carry them because they enable us to receive and respond to email anywhere we are and at any time. We can access the internet on our laptops using a wireless internet card – anywhere we are and at any time. We carry portable printers that allow us to print important documents for our clients – anywhere we are and at any time.

In terms of marketing, we will market your house 24/7 on scores of websites. We focus first on getting your MLS listing right, with full color digital pictures and inviting text. We then send the listing all over the web to multiple websites. We put together a website for your listing. For example, we are currently listing a home in Kirkwood, MO, at 29 Sweetbriar Lane. If you want general information, driving directions, a virtual tour, a recorded message via podcast, a satellite photo of the home, and more, just visit our site at http://www.12sweetbriar.com/.

You see, we are different than the competition. We constantly research, constantly learn, and constantly innovate because we are the best. Check us out today at http://www.noltingrealestate.com/

Make Spring Cleaning a Breeze With These Helpful Ideas

RISMEDIA, March 21, 2006

When getting ready to clean out winter cobwebs, it’s best to have a game plan for every room when you start your spring cleaning projects. It will simplify your tasks at hand and keep you from becoming overwhelmed. And remember, you don’t have to do it all in one day! The following are some spring cleaning tips and techniques for every room in your home.

Livingroom
1. Dust and vacuum corners and crevices from high points to low. Remember dust falls downward so you want to clean from the top to the bottom of any room.
2. Vacuum furniture, lampshades and pictures. Remember all those gadgets that come with your vacuum cleaner? Use them here, and experiment with different attachments for furniture and corners of rooms.
3. Vacuum or wash curtains.
4. Dust wood furniture.
5. Dust mop floors.
6. Vacuum carpet.
7. Take plants outside for a gentle washing with a fine spray from your garden hose. Plants and their pots get dusty over the winter.

Bedrooms
1. Wash, or dry-clean curtains.
2. Take blinds outside and wash them with a mild ammonia solution Rinse with that good old stand by--the garden hose!
3. Strip bed linens and dust ruffle.
4. Vacuum your mattress and box spring. Flip and rotate the mattress before putting on new sheets. This will prevent dips from forming on the mattress, and keep it firmer longer.
5. Polish wood furniture and dust knickknacks.
6. Vacuum everything, from the floor behind and under the bed to the carpet, lampshade and pictures.
7. Clean mirrors and wipe down light fixtures and lamps.
8. Dust mop wood floors.

Kitchen
1. Let cleansers do the scrubbing for you! Spray your oven with cleaner the night before you plan to spring clean your kitchen This will literally "marinate" the grease and grime, making it simple to sponge off.
2. Here is a great microwave cleaning tip: fill a paper cup with water and a few tablespoons of baking soda. Nuke it for about 30 seconds, or until you see the contents explode! Then just take a paper towel and wipe it all off. The explosion spreads the cleanser over the entire area, and you can even use the moistened rag or paper towel to wipe outside the microwave and its surrounding area.
3. Vacuum stove vents, refrigerator coils, floor, and counters.
4. Defrost that freezer. A blow-drier aimed at the ice will speed up the process. Get rid of old foods, or those jars of things you thought you'd like but never ate.
5. Clean the inside of freezer and fridge with a solution of three tablespoons of baking soda and one quart of warm water.
6. Clean outside of fridge with glass cleaner.
7. Clean counters, appliances and stove top with an all purpose glass cleaner or the baking soda solution listed above.
8. Wash out the trash can and spray it with a good disinfectant before putting in a new lining. Leave it outside the kitchen for the next step.
9. For linoleum floors, spray a foaming tile cleaner and take a five minute break, (you can change the CD, or start clearing out items in another room). When you come back, you just need to sponge mop the floor. The foaming cleanser will have already lifted up the dirt so you don't have to.

Bathrooms
1. Spray shower and tub with strong cleanser.
2. Pour cleaner into the toilet bowl, and spray the outside with the same cleaner. Let the chemicals do the cleaning while you do the next steps.
3. Clean mirrors, chrome, bathroom scale, and light fixtures with glass cleaner.
4. Vacuum everything! This will remove dust and hair that is so hard to get up when surfaces are wet.
5. Empty and clean the wastepaper basket.
6. Clean the sink and wipe off the cleanser you already applied to the shower and tub.
7. Working from the top of the toilet down, clean the outside, and brush and flush the inside.
8. Scrub the floor with a strong cleanser. Tough tile floors can be most easily cleaned by hand with the scrub-brush side of a bathroom-only sponge.
9. One more tip: spaghetti mops are more efficient at getting into tough corners than sponge mops. Many types can even be thrown in the washing machine between cleanings.

Source: www.familydigest.com

For Some Buyers, Good Real Estate Agents Hard to Find

RISMEDIA, March 20

It took Jennifer Zuech and her husband nearly a dozen tries to find a real estate agent they felt comfortable with as they hunted for their first home. Some were inexperienced, pushy or didn't seem to listen, showing the couple places they couldn't afford. Others just seemed "conniving," not pointing out the much needed and costly improvements certain houses needed, Zuech said. "We got more educated as we went along at what to look for and what to ask for," she said.

In a Gallup poll conducted last November, a randomly selected sample of 1,002 adults rated the honesty and ethical standards of 21 types of professionals. Real estate agents ranked No. 11 with 20 percent of those surveyed giving them a very high or high rating. That's compared to 82 percent for nurses, who ranked No. 1, 65 percent for doctors and 44 percent for funeral directors.

Some people might not have as positive an impression of real estate agents because it's an easy field to get into, said John Boatright, a business ethics professor at Loyola University Chicago. It doesn't take years of education to get a license, and it's relatively inexpensive, Boatright said. "Almost anyone can become a real estate agent," he said. Many people also question whether the fees they charge are justified, he said. They're less aware of the financial incentives in other fields like medicine, Boatright said.

The recent heated market has probably helped compound the issue, said Bakersfield Association of Realtors president Don Cohen. Hundreds of new agents have leaped into the business, and some are out to make a quick buck. "When one person does wrong, it takes a tremendous amount of effort to counter that," Cohen said. The association has monthly education classes for its members. "We've been growing in leaps and bounds. It's hard to keep up with them," Cohen said. "We're just doing the best we can to educate them and make them as professional as possible." But with so much money changing hands, there are more opportunities for issues to arise, he said. Everyone has been in such a hurry to close deals that "you're going to see flagrant violations," said local broker Chuck Dawson. "People get so sloppy because they want to do as much volume of business as they can."

Homebuyers or sellers can help avoid problematic agents by being vigilant and asking some important questions. They have a responsibility to ask about an agent's experience, Dawson said. Agents' professional standards are almost directly proportional to their education and the amount of knowledge they've gained, he said. A successful agent is one who is constantly taking courses, learning about new technology and ways of doing business, he said. Agents who join the association also have a code of ethics they're expected to follow.

The association has grievance and ethics committees to deal with those who don't. It receives 40 to 60 phone calls a month from frustrated people. Of those, between five and 10 will become complaints that go before a committee, Dawson said. Statewide, the Department of Real Estate receives somewhere between 7,000 and 10,000 complaints a year. The department's Web site, www.dre.ca.gov, allows consumers to search for potential violations using an agent's license number.

Potential buyers should also talk to friends and family, Cohen said, and find out who an agent's done business with in the past six months. "Don't just take it for granted because they give you three names and three phone numbers," Cohen said. "Check the references out." And if you have any doubts, keep looking, he said.

Jennifer Zuech and her husband eventually found their agent, Leslie Walters, through a work friend. Some agents had given the couple false impressions that they could afford particular houses. Walters was honest with them, she said. "She's awesome," Zuech said. "She really paid attention to what we could or couldn't afford."
Copyright © 2006, The Bakersfield Californian Distributed by Knight Ridder/Tribune Business News.

At Nolting Real Estate we are committed to providing exceptional costomer service. Our agents work to meet the client's needs, not their own agendas. Let us prove to you why we are the Right Team of agents to meet all of your St. Louis area real estate needs. To find out more about our team and our mission statement, visit www.NoltingRealEstate.com. To speak in person to one of our agents, call 636-391-9997, or email our broker/president, Russell Nolting at RTNolting@NoltingRealEstate.com.

Pricing as Much Art as Science

by M. Anthony Carr

When shopping for a new home, I've heard many a buyer say, shaking their heads, "What were these people thinking?" Unless the agent has previewed the house and eliminated the "dogs," a buyer can spend a whole day looking at such a wide range of homes that it becomes impossible to see all the inventory in their price range.

Pricing property can be more art than science in today's market. New home builders probably have the easiest time of it -- at least without shocking the buyers -- because everything is new. There are no bare areas in the carpet, fingerprints on the appliances, nicotine stained ceiling tiles in the rec room -- and definitely no cat and dog odors that are promised to be dealt with by installing new carpet after the buyer moves in.

With resale homes, the first weapon to use in the battle to sell the home is to price it correctly. The challenge for sellers is that they want as much as the last sale, however, in today's market that's not as guaranteed as it was a year ago. The seller can still walk away with hundreds of thousands of dollars in gain, but maybe not the absolute highest amount of gain ever in the community.

Thus, pricing is the key. There are only a few ways to price a home for sale and sellers who don't want to putts around on the sale of their home need to adapt to the accepted modes of pricing and get over the fact that their house may not be worth as much as it was 12 months ago.

The first model is probably the most popular -- the comparable. By pulling up only the sales of your particular model, the Realtor can determine a trend price for your home. The challenge in a slowing market is that your particular model may only have three sales in the last year. Such a low number of houses selling does not really create a trend line, especially if the last sale was 6 months previous. Thus, you turn to the second pricing model.

Your home is then dissected to create comparables across a few neighborhoods or even a whole zip code that match your local community. Several aspects of your home will be plugged into the comparable model: style of home (split level, colonial, etc.); number of levels; number of bedrooms and baths; extra rooms; year built; square footage; and more. Then the averages on these parameters are tabulated and you'll have a target price. Keep in mind to remove the highs and lows.

Finally, another way to price your home is to come up with a tax assessment model. This one takes a little bit more homework and data mining. It's tedious, but it can present one of the most accurate pictures of home values in your community. The first step is to pull up all the sales in the community in the last 6 to 12 months. Tabulate the sales price total (let's say it comes up to $10 million) and then tabulate the tax assessment total (our model will use $8 million). Divide the tax assessment into the sales price and you come up with a tax assessment-sales price ratio. In this case, the community ratio is 1.25. Multiply your tax assessment by the ratio figure, and it will determine your target asking price. For example, if your tax assessment is $250,000, multiply it by 1.25 and you'll arrive at $312,500 as a target asking price. Again, be careful to pull out the anomalies that represent overbuilt properties. The largest, biggest house in the community could affect your price, as well as the pre-foreclosure sale.

You're looking for average prices with average situations for average results.
If you're having to use all three models to arrive at a price, then your real estate professional should weigh in with all three models to determine the price.

The biggest challenge in pricing the home is a seller's greed level. Sorry to be so blunt, but sellers always want more than the last sale, regardless of the market condition. My blunt advice is to "get over it." Waiting around for the "right" buyer is just plain foolishness in the world of real estate. If you're putting your home on the market, don't putts around and waste your time, the buyers' time and the agents' time with an unrealistic asking price.

If your Realtor provides feedback from colleagues that your house is overpriced, move on it. Move from denial into acceptance and price the house right. Remember, the goal here is not to price the property as high as possible, but to sell the house. Good luck.

Pricing as Much Art as Science

by M. Anthony Carr

When shopping for a new home, I've heard many a buyer say, shaking their heads, "What were these people thinking?" Unless the agent has previewed the house and eliminated the "dogs," a buyer can spend a whole day looking at such a wide range of homes that it becomes impossible to see all the inventory in their price range.

Pricing property can be more art than science in today's market. New home builders probably have the easiest time of it -- at least without shocking the buyers -- because everything is new. There are no bare areas in the carpet, fingerprints on the appliances, nicotine stained ceiling tiles in the rec room -- and definitely no cat and dog odors that are promised to be dealt with by installing new carpet after the buyer moves in.

With resale homes, the first weapon to use in the battle to sell the home is to price it correctly. The challenge for sellers is that they want as much as the last sale, however, in today's market that's not as guaranteed as it was a year ago. The seller can still walk away with hundreds of thousands of dollars in gain, but maybe not the absolute highest amount of gain ever in the community.

Thus, pricing is the key. There are only a few ways to price a home for sale and sellers who don't want to putts around on the sale of their home need to adapt to the accepted modes of pricing and get over the fact that their house may not be worth as much as it was 12 months ago.

The first model is probably the most popular -- the comparable. By pulling up only the sales of your particular model, the Realtor can determine a trend price for your home. The challenge in a slowing market is that your particular model may only have three sales in the last year. Such a low number of houses selling does not really create a trend line, especially if the last sale was 6 months previous. Thus, you turn to the second pricing model.

Your home is then dissected to create comparables across a few neighborhoods or even a whole zip code that match your local community. Several aspects of your home will be plugged into the comparable model: style of home (split level, colonial, etc.); number of levels; number of bedrooms and baths; extra rooms; year built; square footage; and more. Then the averages on these parameters are tabulated and you'll have a target price. Keep in mind to remove the highs and lows.

Finally, another way to price your home is to come up with a tax assessment model. This one takes a little bit more homework and data mining. It's tedious, but it can present one of the most accurate pictures of home values in your community. The first step is to pull up all the sales in the community in the last 6 to 12 months. Tabulate the sales price total (let's say it comes up to $10 million) and then tabulate the tax assessment total (our model will use $8 million). Divide the tax assessment into the sales price and you come up with a tax assessment-sales price ratio. In this case, the community ratio is 1.25. Multiply your tax assessment by the ratio figure, and it will determine your target asking price. For example, if your tax assessment is $250,000, multiply it by 1.25 and you'll arrive at $312,500 as a target asking price. Again, be careful to pull out the anomalies that represent overbuilt properties. The largest, biggest house in the community could affect your price, as well as the pre-foreclosure sale.

You're looking for average prices with average situations for average results.
If you're having to use all three models to arrive at a price, then your real estate professional should weigh in with all three models to determine the price.

The biggest challenge in pricing the home is a seller's greed level. Sorry to be so blunt, but sellers always want more than the last sale, regardless of the market condition. My blunt advice is to "get over it." Waiting around for the "right" buyer is just plain foolishness in the world of real estate. If you're putting your home on the market, don't putts around and waste your time, the buyers' time and the agents' time with an unrealistic asking price.

If your Realtor provides feedback from colleagues that your house is overpriced, move on it. Move from denial into acceptance and price the house right. Remember, the goal here is not to price the property as high as possible, but to sell the house. Good luck.

Ten Tips For First-Time Buyers

By Realty Times Staff


Each year more than 40 percent of all homes are purchased by first-time buyers according to the National Association of Realtors, a percentage which should offer some comfort if you're about to buy a first home. Others have done it, others are doing it, and you can too.
But like most things, there are ways to make the process easier. Here in capsule form, are 10 baseline strategies to make that first purchase a good experience.

- Think credit. Poor credit will make you a bigger risk in lender eyes -- and more risk means higher rates and steeper monthly mortgage costs. Make a point of paying credit card bills, auto loans, rent, and other payments on time, all the time, and in full.

- Consider taxes. When you buy a home mortgage interest and property taxes are generally deductible from income taxes. This means while monthly housing costs may be larger when you own than when you rent, what you save in taxes can make up some or all of the difference. For details, speak with a tax professional.

- Know the broker's role. Real estate brokers are at the center of most property transactions. It's important for you to know what a broker does, who is represented, and how the brokerage system works.

- Consider what location will work best for you. Look at your needs, the needs of household members, and your preferences in terms of commuting, shopping, recreation, and other factors that are important to you.

- Plan on getting a home inspection as part of any offer you make. A professional inspection can help you understand the condition of the property and the repair bills you are likely to face in the next few years.

- Look into the financing process as soon as possible. Get pre-approved so that you generally know how much you can borrow, what you can afford, and so owners will see you as a serious buyer.

- Save. You'll need money for a down payment, closing costs, moving, and other expenses. Put off trips and luxuries until after you're in your new home.

- Examine the different financial options which are open to you -- consider FHA, VA, and state-backed loan programs which require little down and have liberal qualification standards.

- Look for gifts and grants. According to the National Association of Realtors, 22 percent of all first time buyers receive gifts from relatives and friends. Some companies offer grants and other incentives to employees who are buying a first home. Community groups may also have programs and financing in place for first-time buyers, while the federal government has established special programs for teachers and police officers.

- Start now, take your time, and ask as many questions as you like. Being a first-time home buyer is challenging, but millions of people do it each year -- and you can too.

Have questions? Email Russell Nolting at RTNolting@NoltingRealEstate.com or Paige Knerr at PKnerr@NoltingRealEstate.com

How to Buy a Home with Good Resale Value

Article by Janet Wickell

You might think it's strange to consider selling a home you don't even own yet, but what if you decide to move? Do you want a house that has grown in value and sells quickly? Sure you do.
Most of us won't live in the same house for the rest of our lives, so it makes sense to begin analyzing home resale values from the very first day we set out to buy a house. Buying a home with good resale value might take a little longer, and it might take a bit more work on your part, but you'll love the payback later, when it sells quickly and puts extra money in your bank account.

Here are some tips to help you find a home with good resale value:

Location is Essential
Locations regarded as most desirable today might not keep that status forever, but they're good models to use when you're searching for a home.

- Why are those neighborhoods in demand and how long have they been top choices?
- Are there other areas in town that are increasing in desirability?
- Does new growth in town seem to be headed towards a certain area? Will there be plenty of services (groceries, shopping, schools) in that area?
- Is the community changing--with residential areas shifting over to commercial properties? (That can sometimes be a plus for eventual value, but a negative while you live there.)

Home Buying Tip: Always choose a home that suits your needs, but if you can, find one in a location that others seem to want, too.

Who's Buying?

Who are the primary home buyers in your town? If it's senior citizens--or a crowd getting close to that age, your best resale potential might be a one level home, because seniors don't like to do steps.

If the majority of buyers in your area are young families with children, consider a house with a large yard that's not fronted by a busy street. Or a house with plenty of bedrooms and baths.

Home Buying Tip: Browse your local real estate ads. A feature that's mentioned in numerous ads is likely one that's in demand.

Avoid Outdated Features
- One-bath homes sell for significantly less than homes with at least two baths--and they take longer to sell.
- Electric baseboard heat and electric ceiling heat are not as desirable as central heating systems.
- Tubs and showers in outdated colors, or scratched from years of improper cleaning, might be hard to change without ripping out doors or walls.
- Popcorn ceilings date a house--you know--those bumpy ceilings that were so popular in the 1970's.

Home Buying Tip: Outdated features are usually a negative, but you can turn them into a positive if you buy a home under market value and make updates. Before you make a decision, analyze the update costs and determine how much they will add to the home's value.

Don't Sweat the Cosmetics

- Fresh paint inside and out is a quick and relatively inexpensive fix--and sometimes makes the home look like it's had a complete overhaul.
- New appliances freshen up a kitchen. So does new cabinet hardware.
- Adding glass doors to a few kitchen cabinets gives them a new look--and lights inside those cabinets add soft appeal.
- It takes some time, but painting kitchen cabinets isn't difficult--and it can change the entire character of your kitchen for a minimal investment. Use smooth, micropore paint rollers or small spray guns for best results.
- Skylights and sun tunnels brighten a dark home. Be sure to buy top-quality products and install them with care.
- New light fixtures do wonders to lighten rooms and enhance a home's character.
- New switch plates are an inexpensive way to make a room look nicer. Browse the options online or at a home improvement store.

Home Buying Tip: Sometimes attention to cosmetics is all a home needs to make it shine. Watch for homes in need of cosmetic updates, because they're often priced under market value.

What Are Buyers Looking For?

- Closets--lots of closets, preferably walk-in, and with as much additional storage space as possible.
- The term light and bright is a little overused, but it's an accurate description of one buyer favorite. Homes with lots of natural lighting are very popular.
- Split bedroom plans, with bedrooms on each end of the home, are increasingly popular with buyers.
- If you live in a scenic area, having a view can help you sell.

Home Buying Tip: Popular features differ from region to region, so try to determine what's in demand in your town. Ask your real estate agent which features are always on buyer want lists.

Bottom Line

Your first objective is to buy a home that's right for you, but do consider its resale value before you make the final decision, especially if you know you'll move again within three to five years. A careful purchase now will help give you extra funds to move up with the next time you buy a home.

Making Millions through Real Estate

by Phoebe Chongchua for RealtyTimes.com

Many of the richest people in the world have earned their wealth through real estate. That's why real estate investing is touted as the avenue to riches, but while it is estimated that 80 percent of the world's wealth is held in real estate it is owned by a very small percentage of the population -- less than 20 percent, according to a new book on real estate.

Lisa Vander is founder of Pacific Blue Investments, a real estate investment advising company, and author of The Real Guide to Making Millions through Real Estate: Start Your Own Portfolio With as Little as $3000.

Her nearly 300-page book details how to begin the investing process. Filled with tangible information, worksheets, and hot tips -- you have a wealth of knowledge in one resource book.

Here are some tips from the book on what investors need.

Have an understanding of the timing of the market.
"You've got to understand how the market cycles so that you're not disappointed or having unmet expectations when the market is going to do what it is naturally going to do, which is go up and down," says Vander.

Have an understanding of how to analyze real estate numbers.
There are four parts of understanding the numbers of real estate: appreciation, cash flow, loan reduction and tax benefits and how they work together to produce a rate of return on equity that you have in a property.
"You're shifting your mentality from an 'Oh, the property is gaining in value' which is appreciation to how hard is the money, that I have in the property, working for me," explains Vander.

Have an understanding of the economic environment where you hold real estate.
"How diverse is the economy that I am putting my money/capital into and what's the likelihood of my investment being there today, tomorrow and into the future," says Vander. She says there are six economic indicators to consider that help to determine the health and viability of a market where you plan to invest in real estate. They are: mortgage interest rates; affordability indices; supply and demand; demographic information; commercial real estate; and health of the job market.

Vander also points out that, savvy investors take time to research both macro and micro economics when purchasing real estate.
"Macro economics is the study of how large economic forces impact the health and stability of an economy," writes Vander. She says things such as: recessions/depressions; nationally based loan interest rates; wartime; and demographics of the nation are areas that investors should research.

Micro economics is a look at individual sectors of the economy, concentrating on local and regional areas. Vander names the following as factors that will affect real estate: local and regional recessions/depressions; local or regional disasters; age; seniors; youth; diversification of the job market; unemployment rates; affordability indices; supply and demand; new housing starts; existing housing for sale; permits being pulled; commercial real estate; types of vacancies.

Making millions through real estate is possible and with the help of Vander's new book -- how to do it is no longer knowledge just for the wealthy.

Homeowner Quiz

What kind of homeowner are you?

Take the quiz and find out your personalized tips for preparing your home for sale.

1) After finishing your dinner do you:
a. Leave everything on the table and come back to clean up later.
b. Take the dishes off the table, put away the leftovers and pile the dishes in the sink or dishwasher for later.
c. Clean the table, put away the leftovers and wash the dishes right away.

2) Your home office has a desk that is:
a. Covered with papers, receipts and random objects.
b. A pile of stacks. There is enough free space to do your work and you can still find what you’re looking for.
c. Clean and neat. Everything has its place and papers are filed right away.

3) You’ve just finished your laundry, do you:
a. Leave the clothes in a pile on a chair. It’s easier to find them later this way.
b. Fold and put the clothes in any drawer with available space.
c. Fold and put away your clothes in their appropriate drawers.

4) In your household you have:
a. A dog or cat that is allowed indoors.
b. A smoker who often/always smokes indoors.
c. None of the above.

5) How do you accessorize your home?
a. I like to display personal mementos, souvenirs and family photos around my home.
b. I love decorative accessories and like to feature eclectic ethnic artifacts and antique items around my home.
c. I prefer clean and tidy surfaces and display few decorative or personal items around the house.

6) Which of the following best describes your home?
a. My home is eclectic and fun with bright colours and accessories throughout.
b. My home is traditional with warm paint colours and lots of dark wood.
c. My home is in a modern and simple style with neutral colours and few accessories.

7) Spring has arrived and your yard is in need of some maintenance, do you:
a. Rake the yard and generally get rid of debris.
b. Clean the yard of debris and mow the lawn.
c. Clean the yard of debris, mow the lawn, clear the weeds, apply fertilizer and plant new flowers.

8) Which best describes your home:
a. I haven’t had the time to properly decorate most of my home and a couple of the smaller rooms are used only for storage. Some minor repairs are still waiting to be done around the house.
b. The main areas of my home are decorated and furnished but I never got around to properly decorating and furnishing the basement or guestroom. Some minor repairs are still waiting to be fixed around the house.
c. I have taken the time to properly furnish and decorate every room. I have also undertaken several renovation projects throughout the years.

Give yourself a score of 1 for every “a”, a score of 3 for every “b”, and a score of 5 for every “c” answer.

If your score is between 8 and 16, you need to roll up your sleeves and get working to prepare your home for sale. Based on your responses, your home will need deep cleaning and de-cluttering before showings start
Deep clean your home making sure each room and surface is spotless. Make sure to remember your appliances and windows too.
Get rid of the clutter to allow buyers to properly see your home. Pack away unnecessary items and make sure counters and tables are free of appliances and personal items. If any rooms are used for storage alone, pack away the items and properly furnish the rooms. Don’t leave them empty as buyers will have a hard time visualizing living in a space without any furniture.
Put away collectibles and family photos to help de-personalize your home. Buyers will be able to imagine themselves in your space better without your personal items around.
Although your fun sense of décor and colour may suit your personality, go neutral for the sale. Adding a fresh coat of neutral paint and getting rid of unusual accessories will ensure that your home appeals to a larger pool of buyers.
If pets or a smoker reside in your home, remember that you probably won’t notice the smell if you’re around them all the time. Have a trusted friend give you an honest opinion and deep clean to get rid of the odour.
And lastly, don’t forget curb appeal. First impressions count, and buyers begin to form an opinion as soon as they pull into your driveway. Keep your yard neat and tidy with your lawn and shrubs trimmed, and flower beds weeded. Store away your children’s toys and garbage bins, and give the exterior of your home a good wash or a fresh coat of paint.

If your score is between 17 and 32, there are a few easy steps you can take to make your home more appealing to buyers.
Clean your home from top to bottom, making sure you pay special attention to kitchens and bathrooms. Make sure to de-clutter and reorganize your home. Remove any excess furniture to enhance the feel of openness and space. Storage space is a top priority for buyers, so clean and organize your closets and storage areas. Get rid of anything you don’t need and make sure your closets are not overflowing with items.
Brighten and lighten up your home with a fresh coat of neutral coloured paint. Soft neutrals such as pale yellows and grays can give a house a nice sophisticated look that appeals to most buyers.
Store away your eclectic accessories and create more room on your counters and tabletops. Your unique items may be an expression of your personality but they might also make it hard for buyers to visualize themselves in the space.
And last but not least, fix that leaky faucet and any other minor repairs that you’ve been neglecting around the house.

If your score is between 33 and 40, your home is in top shape and will only need a little bit of work to bring in that sale.
One great way to stimulate buyers’ imaginations is to set the scene. Put fresh flowers on the mantle and set the dining room table for a formal dinner. If it’s a cold day, light a fire in the fireplace. Look at your home through the buyers’ eyes and create an atmosphere that will help them envision themselves living there.
To further enhance your home’s curb appeal, spruce up your flower beds with new flowers and ground cover to give the home additional touches of colour.

To Rent or Buy - Which is Right for You?

Should you sign another lease or take the plunge and buy a place of your own? Millions of Americans ask themselves that question everyday. To make a wise decision consumers should consider a few factors, such as their lifestyle and financial situation. There is no right or wrong answer when trying to make a decision to rent or buy. A good decision is one that is right for you. However, there are advantages and disadvantages to both.

Although most Americans own their homes, homeownership is not for everyone. If you move around frequently, have credit problems or if you cannot afford the home you want or simply do not want the responsibility of owning a home, you could be better off renting. Usually when renting, the landlord or owner of the property generally pays for the cost of any work or repairs that are done to the property. And, there is generally less up-front cash needed to move in.
However, when you are renting a property, you are waving good-bye to your money each month. Renting a home does not provide tax advantages to the renter. Any and all tax advantages go to the landlord or property owner. Also, monthly payments for renters can be unpredictable, depending on the lease.

Owning a home is a big responsibility. Not only does it mean paying a mortgage each month, but it also involves other costs associated with the home, such as, the cost of insurance, taxes, repairs and general maintenance. First-time homebuyers are often startled by the investment associated with purchasing a house. The down payment required can be as much as 20 percent. You also have to consider other fees, such as lawyer's fees, points, escrow costs, appraisals, and credit checks.

In spite of the risks and responsibilities, millions of people enjoy the rewards of home ownership. Purchasing a home is generally a sound investment. As you pay down your home loan, you are building equity. And unlike many things you buy, a home can actually increase in value over time.

Home ownership does offer tax advantages. The mortgage interest and real estate taxes are tax deductible, which allows you to subtract part of your housing-related expenses from your income, thereby reducing your tax liability. There is not much doubt that for most people owning a home is better over the long term than renting. When you have made the decision to buy, do your homework. Know how large a mortgage you can afford. If possible, get "pre-qualified" for a loan. When you find a home you like, carefully give it your own personal inspection. If you have questions, seek the advice of a professional. And, contact the Better Business Bureau for a reliability report on the mortgage company that you decide to do business with.

Article from the Better Business Bureau

Leaving Town? Securing Your Home While You're Gone

By Phoebe Chongchua

It's only March, but not too soon to start thinking about your summer vacation plans. For many people that means relaxing, fun-filled trips away from everyday routines.

But it can also mean being gone from your home for an extended period of time, which has one reader asking, "What are recommendations for the best way to safely and efficiently close down a home for several months at a time?"

Even if you live in a gated community, leaving your home vacant for an extended period of time can be a huge risk, a costly lesson and an emotional heartache. So the best way to close down a home is to make it look like it is being lived in daily, even though you're away.

Here are some security tips compiled from insurance companies, homeowners and law enforcement agencies.

- Stop all deliveries such as mail and newspapers -- this is a very simple thing to do, but it is frequently overlooked by homeowners. When they're gone papers pile up indicating that no one has been home for a while.

- Set indoor and outdoor lights and even TVs on timers to come on and light up rooms of your home and exterior surroundings. Nothing says nobody is home like a dark house. A television or radio that's set to come on periodically makes anyone lurking around think that someone is home.

- Turn down the telephone ringer on your phone and the volume on your answering machine.

- Unplug automatic garage door openers. Burglars can sometimes figure out the code and gain easy access to your home. Also lock any doors from the garage that give access to the house.
Do not close all the blinds, shutters or curtains; leaving them partially open gives an everyday-lived-in look.

- If you have a willing neighbor, ask him to occasionally park in your driveway. Burglars will often survey a home at different times and on different days to study traffic patterns.

- Keep your landscaped trimmed back. Overgrown trees and shrubs are not only a fire hazard but also a great hiding spot for burglars. While you're gone have a gardener maintain the landscape.

- Install extra safety fastening devices on sliding doors, windows and other openings.

- Use your security system. If you don't have one, buy one. A good security alarm system that is connected to a dispatch center usually will qualify you for a discount on your homeowner's insurance.

- Put a "beware of dog" sign on your fence; even if you don't have a dog, this can be a good deterrent.

- Never leave a key under the mat, in a nearby planter, etc. -- or any other common, well-known hiding places. Many burglars don't have to force entry into a home; instead they enter through open/unlocked doors and windows or even with a key, if it's left out for them!

The vital element to keeping your home burglar proof is making it as difficult as possible to break into. Burglars look for easy targets -- leaving a home unattended for a long period of time can put your house in the easy-target category. However, if you take precautions to secure your home before you leave, you'll have greater success keeping a burglar out of your house.

'Good Deal' Matter of Interpretation

By M. Anthony Carr

Everybody's looking for a good deal. Sellers want the highest price possible and buyers want to buy a house below asking price. They both want the same thing -- a good deal. Following years of a sellers market, many consumers are facing a more normalized market across the country. Particularly, in large metropolitan markets, the normalizing of the market has created a wait and see attitude on purchasing or selling real estate.
For the wise investor/home buyer, the cautionary phrase of "wait to buy real estate" should give way to "buy real estate then wait." One of the keys to savvy real estate investing -- whether for personal use or wealth building -- is timing. In a seller's market, every buyer who was serious about getting into a home, knew it was time for bidding up. Getting the best price with the best terms was not a winnable strategy for so many buyers. The name of the game was winning the house.
Interestingly, buyers had no problem bidding up a house $25,000, $50,000, even $100,000 to "win" the house in the Washington, D.C. market just a few months ago. And as prices moved upwards at a clip of 20 percent per year, more buyers jumped in, buying high in hopes of gaining a lot of money in a matter of weeks and months.
Now that price escalations have simmered to a normal pace -- the buyers have stopped the bidding frenzy -- which is exactly when the smart buyer should enter the field.
In a buyer's market, buyers must understand that those who negotiate win, and win big. If you have a house on the market for $420,000 and you want to get it for $399,000 the only thing stopping you is your personal will. If you think you want it for that amount -- then write up an offer for that amount and let the negotiation begin. In addition, while you're offering less money, toss in a home/radon/roof inspection, $5,000 in closing costs and the hot tub in the backyard.
Meanwhile, on the other side of the fence, sellers must learn a lesson early in a normalizing market -- it's time to price ahead of the market (that means get ahead of the price reduction curve).
Pricing ahead of the market, makes many sellers cringe, thinking they are "losing" money on their house. This attitude makes me shake my head in wonderment when I think about it. Looking over average sales prices as if it were a stock quote, homeowners will talk about how they have "lost" money on their home. The discussion goes something like this:
"I lost $30,000 on my house. It's only worth $410,000 now."
"Really? So, you bought it for $440,000?"
"No -- but my neighbor's house sold for $440,000 last fall and now the same model is on the market for $410,000. I have the same model, so I must have lost $30,000."
"I thought you bought your house five years ago for $220,000?"
"Yep."
"So where did you lose the $30,000? Sounds to me like you've gained $190,000."
It's all a matter of perspective. If you've gained $190,000 and you want to move up (or down) the level market is the time to get off the fence and make the good financial decision. Though your house price may have dropped -- so has the house price of the move up property. Sellers should also heed a bit of advice that all agents know and understand -- the first offer is usually the best offer. As a seller, if the price really looks low -- flow with it. Counteroffer. Make the terms and price work. Obviously, beware of bottom feeders - those who are looking for desperate sellers; however, a price fluctuation of 5 percent is not that bad.
The problem for home sellers is the psychological challenge they face, realizing that 5 percent may represent $20,000 dollars. If you're moving up, though, keep in mind the $20,000 "loss" on your sale, may be leveled out by the $20,000 "gain" on the move up property.
The hot market of 2006 has begun. The economy is booming, inventory is up, prices have leveled, interest rates are still historically low -- what are you waiting for?

Decorating in Small Spaces

Sometimes smaller is better, especially when it comes to space. Think cozy and quaint rather than throwing your hands up in the air and screaming: "Oh it's so cramped! I give up!" There's no need to be discouraged. In fact, decorating a small space can be a fun challenge that requires you to be more innovative than ever.
Start out by acknowledging the many advantages inherent to small homes. Small rooms generally require fewer furnishings and accessories, so your decorating budget can get you a little further. Small rooms can also inspire you to do something we all need to do: get rid of clutter.
Since storage space in small dwellings is likely limited, getting rid of unnecessary items is a must. However, people living in larger homes with plenty of storage can more easily fall into the pack rat mode, too. And of course, small spaces can be quite inviting, that is if you decorate consciously and creatively.
So, for each area of your home, you might want to consider these ideas to help you maximize your space as well as your decorating dollar:

- Kitchen: Use over-the-cabinets space for storage of little-used items or decorative display of collectibles; hang pots from a rack suspended from your ceiling; open up cabinet and drawer space by placing cooking utensils and spices in baskets, crystal bowls or ceramic pitchers.

- Living room: Paint the walls a light hue and use sheer curtains to invite in the sunlight; instead of a coffee table, use an ottoman with a tray on top to hold drinks and prop up your feet (also for extra seating in a pinch); create tables that do double duty as extra storage by stacking suitcases, using an old trunk, or by stacking two old soda or wine crates and adding a glass top.

- Bedroom: If there's ample space in your closet, move your dresser inside to free up main area floor space; instead of night tables, place a small, wall-mounted shelf on each side of the bed to hold nighttime needs like a small lamp; if you're low on closet space, use the space under your bed to store out-of-season clothing; if you need an armoire but can't afford one, make or buy an inexpensive bookshelf and attach curtains (or canvas) to cover up the clothing but still offer easy access.

- Bathroom: Use an over-the-commode shelving unit to hold essentials if cabinet space is sparse; use several decorative hooks instead of a towel bar and you can hang up more towels (and robes) in a small wall area.
Another vital rule in small space decorating to keep in mind is that dark colors make things appear smaller and light colors make things appear bigger. If you're tired of your white walls, a taupe or sand color is a great substitute. These aren't gleaming, but they also are not dark enough to close a room in, making it longer than it is.
You can accent -- that is add a little color -- with candles, pictures, paintings or pillows, or brighten things up with curtains. If you have a lot of windows to dress, stick to a neutral color because a dark color can have the same effect as painting your walls.
Also, multi-function pieces of furniture are perfect for small spaces. For example, try a loft bed, which puts your bed off the floor. If it's high up, it opens up the floor space for other purposes. A couch or desk can fit easily underneath, too for more space saving. If you don't have enough space for a bed, or you don't like sleeping in high places, a futon or pull out couch can act as a couch by day and your bed at night.
Need more storage space? A storage chest can easily double as a coffee table. Hanging shoe racks are also a way to create more space in a closet. Toiletries can hang, too, creating more counter space for other bathroom supplies. To create the illusion of a bigger space, try hanging a large mirror reflecting a window from across the room. It instantly makes the space look bigger. Finally, it is important to find the style that you like. Whether it's Modern, Victorian or Country French, the style should reflect your personality. After all, you're the one who is going to be living there. With a little creativity, you can make living in a small space as comfortable as living in a castle.