Sellers....To List or Not to List...The before or after the Holidays Question

Should I list my home or is it better to wait until after the Holidays? 

The big answer to the question that so many sellers ask themselves as Christmas, Hannakuh, and the New Year nears is not necessarily what you think.

Most real estate professionals always advise sellers to list their homes during the holiday season rather than waiting, citing more serious buyers and less competition among properties, according to a recent survey from Realtor.com.


The property search site's Holiday Home Selling Survey gathered responses from 429 real estate professionals surveyed online between Oct. 26, 2011, and Nov. 8, 2011. The "holiday season" was defined as Nov. 23, 2011, to Jan. 2, 2012.

Among respondents, 60 percent said they would always advise a seller to list a home during the holiday season and agreed that "it's a good time to sell," while 30 percent said they would sometimes advise it if the seller were motivated. Only 1 percent said they would never advise it because "selling during the holiday season is always a bad idea."

The vast majority of respondents, 79 percent, said more serious buyers were one of the biggest benefits of listing during the holidays, while 61 percent said less competition among homes was a plus. Only 17 percent said cold weather making homes look cozy was an advantage.

Indeed, 39 percent of respondents cited winter weather as one of the biggest challenges to putting a home on the market during the holidays. An equal share said buyer vacation and celebration schedules were problem.

But the biggest challenge, noted by 63 percent of respondents, was keeping a home "open house ready," meaning clean and staged, during this time of year.

Selling a home during the holidays requires employing different strategies from selling a home during other times of the year, according to the survey.

More than eight out of 10 respondents said online listing photos were particularly crucial for homes listed during the holiday season. The main reasons cited were that buyers attend fewer open houses because of busy schedules or winter weather, while sellers also host fewer open houses during this time.

The majority of respondents, 74 percent, said pricing a home to sell was even more important during the holiday season, and 40 percent said staging a home was more important at this time of year. Nearly a third said being flexible with contract terms such as move-in dates and when closing costs were paid was more essential during the holidays.

The way a home is staged during this time of year is also significant, according to the survey. Almost all respondents said they advised sellers to put up some seasonal decorations, though there were differing opinions on the types of decorations.

A 37 percent plurality said homeowners should put up some nonreligious holiday decorations to make a home feel inviting, while 28 percent said sellers should put up all of their holiday decorations, including religious ones, to make their home feel festive, the survey said.

A similar share, 27 percent, said sellers should put up seasonal decor that is not suggestive of specific holidays, while 8 percent of respondents advised sellers to stage their home without any decorations at all.

Eighty percent of respondents said they encourage sellers to light their fireplace when staging a home during the holiday season, while 62 percent said they suggested sellers update outdoor lighting because the buyer is more likely to see the home at night due to shorter days.

Other popular staging advice for sellers included using winter-scented home fragrances before an open house, making the home feel more cozy through reading nooks and blankets on couches and beds, setting the table to showcase holiday entertaining, and playing seasonal music that is not specific to a particular holiday, the survey said.

Hope this information you find useful and please feel free to share with others that may benefit from this advice.  I appreciate as always your time in reading my blog and I hope that you have a wonderful Holiday Season! Merry Christmas & Happy New Year :-)

Advantage Realty Group Blog: Have you Winterized Your Home Yet? Cost Effective ...

Advantage Realty Group Blog: Have you Winterized Your Home Yet? Cost Effective ...: Its that time of year again, yes Winter is around the corner or some would say is already here! Well be sure if you have not yet taken a ...

Have you Winterized Your Home Yet? Cost Effective Tips

Its that time of year again, yes Winter is around the corner or some would say is already here!  Well be sure if you have not yet taken a few steps to best winterize your home you do so now.

There are two kinds of home winterizing tips. The first variety often involves spending a load of money to upgrade your energy efficiency. While definitely worthwhile and timely with many federal energy tax credits expiring this year, these fixes can still be very costly (think adding insulation, getting a new energy efficient furnace, energy efficient windows, etc.).

The other variety of home winterizing tips focus on the things that you can do on a weekend afternoon for very little money (or free) with a little bit of elbow grease. The cost savings of doing such work generally comes in the form of preventing costly fix-it repairs that come from neglect. Here are seven things that you should do around the house every year before the first sign of snow hits.

1. Clean Out Your Gutters

Gutters that are dammed up with leaves can result in ice dams, which can lead to all kinds of costly outdoor repairs — damaged shingles, roof leaks, broken gutters, etc. Additionally, if your gutters are clogged up, water could be falling right next to your foundation and leads to possible flooding in the basement.

Estimated Cost: Free, as you don't fall off the roof and end up with a medical bill.

2. Drain Your External Faucets

Water that is sitting in pipes that lead to outside faucets can freeze and burst, ultimately flooding your basement and leading to possible water damage and mold problems. Simply close off the interior faucet valves by turning them clockwise all the way to the right. Then go outside and make sure that every last drop has come out of the faucet.

Estimated Cost: Free

3. Caulk

Search for drafts around windows and doors on a cold windy day. Place a tissue paper over the suspected draft area. If the paper flutters, you've probably located the draft. For drafts under doors, you may have to buy a rubber draft stopper to place at the bottom of the door.

Estimated Cost: $3/tube (One tube should be more than enough)

4. Repair Your Shingles

If you have cracked, missing, or otherwise damaged shingles, have them replaced immediately so that you don't get roof leaks. Strong winds, falling tree limbs, and sun weathering can all lead to damaged shingles. You might as well check them out while you're up on your roof cleaning out your gutters.

Estimated Cost: $1/shingle

5. Flush Your Hot Water Heater

You can flush a hot water heater any time of year, but you might as well throw it in with the other maintenance work you'll be doing since you really only need to do it about once a year. If you don't, sediment can build up at the bottom of your water heater and cause it to lose efficiency or even leak.

Simply take one of your water hoses and fasten it to the water faucet at the bottom of your water heater. Turn off the water heater so that you don't get burned by hot water accidentally. Run the hose outdoors, preferably, but if you can't do that, then a laundry tub should be sufficient. Open the valve and let the water drain out completely, rinsing out the sediment with it.

Estimated Cost: $0.001 for the water

6. Replace Your Furnace Filter

Furnace filters, in a clean basement, can lead to a more efficient furnace when replaced about every six months. I usually replace mine when I first turn on the heat and then when I switch over to air conditioning in the summer.

Estimated Cost: $5-$15, depending on the furnace

7. Programmable Thermostat

Most programmable thermostats can be purchased for $30-$70. In a cold climate, you might be able to save that much in a month alone if you set one up to be cooler while you are out of the house and at night, and warmer when you are at home. And they are easier to install than you may think (half-hour job, max.).
Estimated Cost: $30-70

Hope you found this blog useful today as you prepare for the cold that is ahead of us!  Thanks for reading my blog and please feel free to share with any others that you know could benefit or would also enjoy being a follower!

Advantage Realty Group Blog: Can't Refinance? Can't Get a Loan? Here's why 2 Mi...

Advantage Realty Group Blog: Can't Refinance? Can't Get a Loan? Here's why 2 Mi...: Today is some useful information for those of you that are considering applying for a loan, have recently applied for a loan or would just...

Can't Refinance? Can't Get a Loan? Here's why 2 Million had the same problem in the past year...

Today is some useful information for those of you that are considering applying for a loan, have recently applied for a loan or would just like to know how the process works.

Half of refinance applications are abandoned or rejected, as are 30 percent of purchase mortgage applications, according to the Mortgage Bankers Association. All told, the Federal Financial Institutions Examination Council (FFIEC) says that well over 2 million mortgage applications were rejected last year.


Want to avoid falling into that number? It's tough -- especially in light of the fact that mortgage lenders have become increasingly restrictive in terms of their lending guidelines since the housing market crash.

Here, as a cautionary tale and primer on what to expect, are the top six reasons mortgage lenders reject applications.

1. Income issues. Most failed applications falling into this category have income too low for the mortgage amount they are seeking; often, a spouse's credit issues can create this problem, too, as the income the spouse plans to actually chip in toward the mortgage cannot be considered by a lender.

But increasingly, the recent vagaries of the job market are also causing this issue, as people who have changed their line of work or have changed from salaried employee to freelancer over the last couple of years can also have their home loan applications rejected based on income.

2. Muddled money matters. If the mortgage for which you're applying plus your monthly payments on credit card, car and student loan debts will comprise more than 45 percent of your total income, you could have problems qualifying for a home loan. You might also run into problems if you rely too heavily on bonuses, overtime, cash wages or rental income -- all of these can be difficult or impossible to get a mortgage bank to consider, and if they do, they might not take all of it into account.

3. Credit issues. Today, the mortgage-qualifying FICO score cutoff falls somewhere between 620 and 660, depending on which lender and which loan type you seek. More than one-third of Americans, by some numbers, have credit scores too low to qualify for a home loan. Even if your credit score is high enough to qualify, if you have any late mortgage payments, a short sale, a foreclosure or a bankruptcy in the last two years, loan qualifying could be difficult to impossible.

4. Property didn't appraise. Since the whole industry had its hand (among other things) smacked for allowing home values to skyrocket in a very short time, appraisal guidelines have tightened up -- some would say, even more than overall mortgage guidelines. So, it is increasingly common to have the property appraise for a price lower than the sale price negotiated between the buyer and seller.

This is especially common in the refinance realm, as well over a quarter of U.S. homes are now upside-down, meaning the mortgage balance owed is greater than the value of the home. (If you're trying to refinance an upside-down mortgage, consider the FHA Short Refi program -- contact your lender or get referrals to any mortgage broker who makes FHA details to apply.)

5. Condition problems. With all the distressed properties on the market, and with most nondistressed sellers barely breaking even, more home-sale transactions than ever are falling apart due to condition problems with the property. Many lenders will not extend financing on homes where the appraiser points out problems like cracked or broken windows, missing kitchen appliances, electrical problems, or wood rot.

And in the world of condos and other units that belong to a homeowners association, if more than 25 percent of units are rented (rather than owner-occupied) or more than 15 percent are delinquent on their HOA dues, new applications for refinance or purchase mortgages on units in the development are likely to be rejected.

6. Technical difficulties with application. The days when lenders just took your word for it are long, long gone. Applications with incomplete or unverifiable information are doomed.

If any of these mortgage loan application glitches arise in your homebuying or refinancing process, it's critical that you connect with your mortgage professional, be it your banker or mortgage broker, to determine what course of action to take.

In some cases, it might be as simple as buying a stove you find at Craigslist and installing it before escrow closes; but with income issues your mortgage pro will need to help you determine whether it makes sense to pay some bills down, get a co-signer, or even wait six months so your income documentation will qualify.

Protect yourself or your Buyer in "AS-IS" purchases!

Q: What can a buyer do if the seller includes an as-is clause in the contract and "issues" are discovered from the inspection? Will the buyer lose his deposit if he walks away from the deal after the inspection uncovers, let's say, termites or electrical problems? It would seem to me that a buyer would insist that the as-is clause be removed. --V. Wohner

A: In most states, the phrase "as is" has been defined, over time (and lots of lawsuits) as also indicating that the buyer is taking the property in "as-disclosed" condition. These same states tend to have disclosure standards that require sellers to tell buyers, even as-is buyers, about any "material" issues with the property: things that the seller knows about that would have some influence on the decision-making process of a reasonable buyer.

In other states, though "as is" does not connote any disclosure requirement on the part of the seller. I recall reading an Arkansas case where the seller had known the property's lot flooded every year for many years, didn't disclose it to the as-is buyer, and the court sided with the seller. In these areas, "as is" might well be interpreted as "caveat emptor" (Latin for "buyer beware").

However, in the vast majority of cases, buyers can -- and should -- insert an inspection contingency into an as-is contract. In fact, the inspection is the vehicle for knowing what exactly is going on with the condition of the property. The inspection, follow-up, or specialty inspections and repair bids or estimates are really the only way for a smart buyer to know whether they should move forward with an as-is deal.

Under an as-is contract with an inspection contingency or an inspection period, the buyer will have a certain period of time to obtain his inspections and decide whether he wants to move forward with the transaction, back out of the transaction and recoup his deposit, or back out of the transaction.

If after inspections, the buyer decides to exercise the inspection contingency and back out of the transaction within the time frame provided in the contract, their deposit money is safe and must be returned by the seller.

If, on the other hand, the buyer receives troubling information during the inspection but would still like to move forward with the transaction as is, he can do that.

Some buyers do this, especially when they feel like they are getting a great deal, even with the repair costs, when they can afford the repairs or anticipated them in advance, and/or when the seller is already making nothing on the property, so a price reduction would turn the transaction into a short sale (which might or might not be allowed by the seller's bank).

Other buyers who learn of termite or other work that needs to be done choose several tactics. Some request that the seller complete some or all of the repairs, and insist that if the seller refuses, they (the buyers) will cancel the transaction and request their deposit back. Other buyers request a price reduction, on the same condition of canceling the transaction if the seller cannot or will not do so.

I see it as highly unethical to make a "fake" as-is offer, knowing full well that you plan to come back and ask for repairs or a price cut later in the transaction.

But if you get inspections and are surprised at how much work is needed, or at what it will cost, there is no legal or ethical bar from either backing out of the transaction entirely or making an effort to renegotiate the terms of the contract, so long as you do so within the contingency or objection period time frame provided in the contract.

In most states that allow for contingencies and objections, the buyer is legally able to back out of the contract after the contingency or objection period expires, but will forfeit his deposit or other liquidated damages provided in the contract if he does so.

Consult with your local broker or agent, or a local real estate attorney, to determine what avenues are available in your state and under your contract.

Dead Grass? Tips on How to Properly Water a Lawn

If you live in the Midwest then like me, you've probably recently attempted to off-set the staggering 90-100 Degree Heat Wave we've had to keep your grass alive by watering it.  I thought it was appropriate to find some useful tips to share so that you can maintain a green lawn, or close to it despite mother nature as of recent :)

How to Water Your Lawn Efficiently

The Environmental Protection Agency reports that nationally, lawn care and landscaping accounts for more than 30 percent of water use in the United States.

That is an amazing amount, especially if you consider how much time and energy it takes to treat water to make it suitable for drinking, only to use it on the grass. The worst part of it is that much of this water goes to waste due to inefficient watering techniques.

Knowing how to water you lawn efficiently can make for greener, healthier grass, and big water savings during the year. This article will cover some basic techniques to get the most out of your water when you irrigate your lawn.

When to water your lawn

Water your lawn only when it needs it. The first three to four inches of soil below the turfgrass should be dry before you water. Use an electronic soil tester to test the soil moisture, or use a trowel or a screwdriver to open the soil and feel it with your finger. Another way to test when you lawn needs water is to step on the grass. If you can easily flatten the grass with your foot, you should water it. If the grass regains its form quickly after you step on it, wait to water.

It’s always a good idea to water in the cool of the early morning or the evening to reduce the levels of evaporation. Watering in the morning is best as the water may sit overnight and cause problems with root rot or fungal diseases. Never water on a windy day.

How and how much to water your lawn

Water less frequently and more deeply. If you water deeply, your roots will begin to grow down further into the soil. This means that your grass will perform better during hot and drought-like periods.

One inch of water is a good rule of thumb for your lawn. However, this will really depend on where you live, the quality of your soil, etc. Soil types can make a big difference on how efficiently your lawn uses water. See this site from the Better Lawn and Turf Institute for a guide to how soil types affect watering rates.

Adding organic compost to your garden soil is one of the best ways to improve the efficiency of your lawn’s water use. You should water a little more during the hottest times of the year, and less during the fall. If your area is getting an inch of rain a week, there is no reason to water more. You should save you water until you need it.

Measuring how much you’re watering:

Go out and test to see how much water you’re using each time you water. Remember that your goal should be an inch of water about every week. Place a series of shallow containers throughout your lawn. Turn the sprinklers on and water your grass. When you’re finished, measure the water in the dishes. Adjust the time until the water is about an inch deep.

When you do this test, also observe your grass. If you see pools occurring quickly, this means that your soil may need some adjustment. Adding compost will do the trick.

In the meantime, you can turn off the water once the pools start to form and let the water soak in before you continue to water. If you have a sloping lawn, you’ll want to probably reduce the rate of your sprinkler system so that the water has more time to soak in.

If you have an automatic sprinkler system, this test will also help give you a time setting for your sprinkler system. This technique will also help you determine if your sprinkler system is working well. If you note large discrepancies in the level of water in the containers, you may need to adjust you sprinkler system.

Adjusting your sprinkler system:

Check your sprinkler system to make sure that it’s watering your grass and not your sidewalk, driveway, etc. Check all the sprinkler heads. Some may be clogged or pointing in the wrong direction. Replace and adjust any sprinkler heads that aren’t working properly. You can talk to a professional lawn and garden service if you need help with this. Also check for leaks, broken pipes, etc. If you have a timer for your sprinkler system, set it based on the 1 inch watering system.

How to water new lawns:

For newly laid sod, give the entire area a good, long drink right after you set up your lawn. You should continue with frequent soakings (every 2 days) for about 2 and a half weeks so that the roots establish. After this period, use the one inch rule for watering your sod.

When you seed a new lawn, it’s important to water it properly. You’ll initially want to water more frequently, but without saturating your lawn. You should keep the first few inches of soil moist during the establishment period. It will probably take a little over a month for the roots to begin to establish. At which point you can use the 1 inch of water rule.

Aerating your grass for efficient water use:

Soil aeration is another way to get your grass to use water more efficiently. Aerating your grass involves punching holes in your lawn with specialized aerating equipment.

Through time and continued use, the soil beneath your lawn becomes compacted and this affects water drainage, air circulation, and how efficiently your grass makes use of nutrients. The overuse of chemical fertilizers also can create soil compaction. Thus, aerating your soil is one of the best ways to get your lawn to make the best use of water and nutrients.

You should aerate your lawn to about 3-4 inches deep. A lawn coring aerating tool is a great tool for small lawns. For larger lawns, you may want to go ahead and rent a larger lawn aerating machine. When you aerate your lawn, try passing 2-3 times over the same area so that you properly cover your lawn with enough holes. If you use a machine aerator, make sure you leave the soil plugs on the grass. They should decompose quickly and will return nutrients to the soil.

Other water saving tips for your lawn:

To further increase your water savings, you should mow your grass correctly and use “grasscycling,” which means leaving the grass clippings on your lawn. The grass clippings act as natural mulch, retaining moisture and returning nutrients to the soil. This will improve soil texture and water retention. Reel mowers are a great way to grasscycle. Also, make sure to read this guide to grass cutting heights for more information.

Removing weeds can also help your grass use water more efficiently, as weeds compete with your grass for water. Invest in a good quality weeder to effectively remove weeds from your lawn.

Also, look for drought resistant and water-wise grasses. This website from Texas Aggie Horticulture is a good place to look for grasses that will use less water than standard turf grasses.

To further your water savings, you can use water absorbing polymers (water crystals) in your lawn to help you save water. These water absorbing gel products, such as Solid Water polymer gels, can help reduce the amount you water your landscaping by up to 50 percent.

Water absorbing polymer gels work by absorbing high quantities of water, in addition to beneficial nutrients, and then slowly releasing the water through osmosis. When mixed into the soil, the gel polymers come in direct contact with the roots of your grass. This translates to extremely efficient use of water in your landscaping. Gel polymers are safe for your family and pets and will not cause problems with root rot or soil borne diseases.