Winter Blues Got You Feeling Down?

If you live in a good portion of the US, you might find yourself a little down this time of year. Christmas is long past, and spring still seems far away, and yet winter still looms. 

If you have a house on the market, chances are that showings have slowed, and prospects for a sale any time soon seem dim. 

But that doesn’t mean that this time of year can’t be productive. 

Here are a few things that will both lighten your load [who among us hasn’t accumulated a little bit too much stuff?!], and possibly brighten your mood.

Start with one room [or closet, or drawer] at a time, and go thru your belongings. This is a good time to both organize it, and get rid of things that you no longer want, need, or use. Separating into piles can be helpful. I generally use these guidelines: keep [put away, fix, or put away elsewhere], donate [to friends, to secondhand stores], and throw away. I’ve found it much easier to be pretty brutal when going though stuff, not giving myself more than a few seconds to decide if I’ll keep something or not. Admittedly, I’ve had a few times where I’ve gotten rid of something I’d later wished I’d kept, but for the most part, I feel good about having a less cluttered house and life. 

Another thing to keep in mind if you’re donating items is that you can get a receipt and claim donations on your taxes if you itemize. 

Winter is also a good time to do repairs and cleaning that you might not want to do when the weather is nice and you want to be outside. I like to go through paperwork during the winter, organize the pantry, and clean things like light switches, fans, walls, and baseboards. 

Lastly, take note of  and repair any drafts in your house. They’ll be harder to spot in the spring and summer, and your wallet, and comfort level will thank you! 

These are all things that can be done cheaply [or free!], and they’ll both make it easier to sell your house, and easier to move when you do! 

Tips to Help Your Home Sell quickly

1. Don’t try to do it yourself. Find an agent that you both like and trust, and work with them. Don’t be afraid to interview multiple agents to find a good fit. Realtors are professionals, who are paid to do this for a living. They’ll be able to guide you more effectively than you will probably be able to do yourself.
   
2. When you find an agent, listen to them. Again, they’re professionals. See above. I’m not suggesting to leave your brain at the door, but consider their knowledge of the subject. Let them do their job. And if you’re not happy with them? You can always find another.
   
3. Price it right [and low]. Don’t be afraid to list your home “too low,” because this will draw competing bids. This is a more effective method than starting high and lowering it, because potential buyers will see a decreasing price, assume that it has been on the market for a long time, and give low-ball offers.
   
4. Accept that the market is what it is. Just because you bought your house ten years ago for a certain price doesn’t mean that the current market will allow you to make that price [and then some] back. It can be painful, but in a bad market, that’s something better accepted sooner than later.
   
5. Renovations aren’t magic. Unless there is something really wonky going on in your house, simple, relatively cheap fixes will give you more bang for your buck. Think curb appeal. Fresh paint, newly cleaned carpets, flower boxes by the entryway, changes in door knobs and light fixtures--all simple things that make an impact.
   
6. Online presence. You really can’t avoid having an online presence anymore, especially when selling a house. Most potential home buyers begin by searching online, and narrow their searches that way. If your house doesn’t show up, it won’t even be on their radar. 

Ugly House? Maybe Not as Big a Deal as You Think

Let's face it...some of us live in homes that are downright ugly. If that's where you're at, here are some tips:

1) Clean it up, and make it clutter free. If you're dealing with an odd floor plan, this is one of the best things you can do. Don't add messy & dirty on top of things!

2) Change the carpet, paint the walls. If there's wallpaper, get rid of it! Depending on your skill level, these are things you may be able to do yourself. If you're not competent in those sorts of endeavors, hire a professional, or friend/family member who can do the job well.

3) If you can afford it, have professional staging done. People who stage homes professionally are able to see the best your home has to offer. They can accentuate the selling points, and will be able to downplay the not-so-appealing aspects of your home.

4) Price accordingly. If your home needs a lot of work to make it more...appealing...you may end up having to lower the price. Especially when there's a slow market, there are lots of homes to choose from, so make it sellable with a reasonable price.

5) Agent incentives.  This won't directly attract buyers, but it does give agents more reason to show your home more frequently. More traffic = higher probability of a sale.

6) Be honest in your ad. Don't overstate things. That doesn't mean you need to make the place sound like a dump, but don't call it a parade-of-homes house if it isn't. There are people who specifically look for fixer-upper homes.

7) Hire the right agent. If you're talking to an agent who typically deals in brand new model homes, you might want to talk to someone else. Find someone with experience in selling unique homes.

Life After Foreclosure?

Think you're doomed after a home foreclosure? There may be some good news for you.

While you'll probably have to wait seven years to obtain a conventional mortgage, Freddie Mac, Fannie Mae, and the FHA say they only require a three-year waiting period post-foreclosure. Granted, this is dependent on the circumstances surrounding the foreclosure, but there may be some hope for you. Some requirements may include a large down-payment [20% or more], and you may be required to pay higher than market interest rates, but there's still the potential for homeownership in the near-er future than you may have expected. Lease-purchase options are another possibility if a foreclosure lies in your more recent past, but you still want to buy a home. A knowledgeable realtor will be able to talk to you about these options in more depth.