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Saturday, March 1, 2014

Things to Know When Preparing to Sell or Buy a Home in 2014 Forthefirst time in years, rising home prices are boosting sellers’ confidence. At the sametime,interest rates remain relatively low, helping to boost potential homebuyers’ confidence. Millions of Americanswill decide in 2014 to put their houses on the market and/or shop for new homes, and need to understand the current housing market conditions as they movecloser to buying orselling homes. The following “top five things to know whenpreparing to sell or buy a home in 2014”should be considered by anyonethinking about a homesale or purchase. IS 2014 THE TIME TO MAKE A MOVE? a SA i 3 e SELLERS:the pool of prospective buyers hasn't beenthis large in several years. Now may bethe time to move, depending on your market. BUYERS:you're competing with more buyers; but interest rates arestill ideal, so the hunt for your next home may be well worth it in the end. ~ '$) THE PRICE IS RIGHT, RIGHT? SELLERS: don’t overprice your house. After the first 21 days on the market,its “freshness appeal” diminishes. BUYERS:the house is probably too expensive if your debtto- incomeratio (mortgage, property taxes and insurance)is higher than 36 percent of your monthly gross income. LOOK FOR ADDED VALUE IN A HOME PROTECTION PLAN. SELLERS:homessold with home warranties spend an average of almost 11 fewer days on the marketandsell for an average of $2,300 more than homeswithout a home warranty. * BUYERS:if covered home system components or appliances fail, you'll worry less knowing they'll be repaired or replaced under a homeprotection plan. > *(source: recent homesales study conducted by American Home Shield For full results and methodology visit http://bit.ly/1mTrWkU) oN @ KNOW THE FULL SCOPE OF A REALTOR’S RESPONSIBILITY. SELLERS:real estate professionals can identify the appropriatelist price, determine necessary improvements, create a plan to promotethe listing and facilitate showings of the house to potential buyers. BUYERS:real estate professionals can access the Multiple Listing Service (MLS), help you understand what you want == in a house andfind a goodfit. They can provide market trends and comparable pricing and guide you through the IMPROVEMENTS... TO MAKE THEM OR NOT? SELLERS:view your home as a potential buyer and make improvements accordingly. Consult with a real estate professional to see if improvements are goodinvestments and to avoid overimproving the property. BUYERS: assess your abilities, time constraints and commitmentlevel when it comes to renovation work. Negotiate improvements with the sale of the house, when appropriate negotiation and closing processes. LEARN MORE | you're considering selling or buying a home in 2014, visit www.firsthomeresources.com for FToliTel foam iter mI MAT throughout the selling and buying com eM omcloM Roe Mue aocreiun sel icoln American HomeShield, visit www.ahs.com orcall (866) 1)