Monday, June 28, 2010

#3 in a Series of 8 Articles - ROOMS THAT NEED TO BE STAGED

More tips and ideas about staging your Albuquerque home for sale

Do you know which rooms are important to stage when putting a house on the market and why?

• Living Room/Great Room (LR)

• Dining Room (DR)

• Master Bedroom (MBR)

• Bathrooms

• Kitchen

It is important to make a house look more like a Home. You want to produce a warm & welcoming effect on the visitors, encouraging them to linger. The longer the prospective visitors are in the Home – the better the chances are of making a positive & lasting impression. Staging a home will help the potential buyers to visualize their furniture & furnishing within the house. When staged correctly, it can also be used as a tool to help make a room appear larger than it actually is – this is especially important when it comes to the Master Bedroom, and living areas.

For more information about staging, contact Interior Styling by Karla today!

If you would like a free copy of my book for Sellers - please fill out this form and I will send you a copy in the mail!

Thursday, June 24, 2010

Do you think there is life after a short sale? Think again

I was reading an article this weekend about how short sale sellers aren't exactly off the hook to go on with the rest of their lives after they and their broker have 'negotiated' a short sale.

A recent Washington Post article talks to this point, that homeowners who refinanced their homes and then subsequently negotiate a short sale are not protected from deficiency judgements brought by the banks.  Even after you have negotiated the short sale, the banks can come back to you and require that you pay back the forgiven amounts.

I'm the first one to admit I have stayed away from this part of the market.   I could {and probably will} write another blog piece about how I think even the term "short sale" isn't exactly what we should be calling these types of sales....but I digress....but the entire process just seems ripe for these types of uncertainties.

Why has this happened?  In years past, when a 'short sale' was just a term we used when the seller was going to have to bring money to the closing table to close on their property, banks were more forgiving and the cost of recouping their losses didn't justify their costs of pursuing the funds from the seller.  But in today's environment, the banks are experiencing huge losses, and they are reaching out to the first one in line to recoup those losses - the sellers of the properties.  Often the sellers go away from the short sales thinking that their lives are back to their new normal, and start their lives again.  If that includes building a new portfolio the banks are watching and may pursue your new assets as their opportunity to recover some of their losses.  From the bank's point of view, it only makes sense.  To the seller, it's a very unwelcome surprise.

So for sellers, please make sure you read all of the conditions of the approval, be sure to read all of the fine print.

For those brokers who have always thought it was in the best interest of everyone to be the one to lower their compensation for the 'deal to go through' (banks don't ask the title companies or anyone else, but we have made it easy on them by thinking we aren't worth our paychecks) I wonder if they are going to be compensated when the banks go back to the seller and recover their deficiencies?  Ah, well - again, I digress and I see another blog post coming!

Wednesday, June 16, 2010

Why the virtual office?

Interesting discussion going on today on the social networking sites about "virtual offices".  I have run a virtual office for years, finding that being in the office doesn't mean I'm in my business.  Lots of distractions and lines at the copy machine made it inefficient for me to get anything done.

I can accomplish more for my clients by being virtual than by having a physical office.  The time it takes just to get to the office, set up materials and deal with office details is time that I could be dealing with 2-3 items and getting them cleared up!  Reports, offers, paper things - oh those paper things!  With Internet faxing we don't need fax machines anymore.  With email we hardly need faxes anymore.  With file sharing we hardly need email anymore....

The amount of work that I and my team can accomplish in a day just by being virtual is virtually impressive! 

Oh, and my assistants - they are virtual, too. 

Transactions can now be processed so quickly that by the time a client has gotten back into their car to catch a plane, their offer has already been submitted and {hopefully} signed and accepted by the seller without us having left the computer.  With the use of Docusign and on-line client file platforms, the process has been streamlined.

Oh, and I'm thinking that the earnest money part can't be virtual...but actually it can be with a wire transfer...

There are so many aspects to business, and not only the real estate business, that can be virtual that perhaps the day of the physical office is going to be a thing of the past.

Tuesday, June 15, 2010

It's better to buy than rent an Albuquerque home!

This morning Trulia published their rent/buy analysis for various cities.  Albuquerque placed with a rating of "14".  The Price to Rent Ratio interpretation is this:

If a city receives a score of anything from 1-15, it is much less expensive to own than to rent a home in this city.  The factors used to calculate this score are the mortgage (principle and interest), property taxes, hazard insurance, closing costs and ongoing Home Owner Association Dues and private mortgage insurance where applied.  The calculations are used to include an offset for the tax advantages of home ownership, including mortgage interest, property tax and closing cost deductions.

The total cost of renting is calculated to use rent plus renter's insurance.

Also, in Albuquerque it is pretty difficult to find a short term rental, 6 months or less - and if you choose to rent you stand of chance of 'missing the market'.  I have lived in Albuquerque since 1979 and I have seen many changes in market conditions and economic development.  Albuquerque's market tide can change quite quickly, leaving you with higher interest rates or less inventory to choose from when you get ready to buy if you postpone the process by renting.

For the full report, click here!

There are opportunities for short term executive rentals that many of our clients have found very useful, and if you would like a list of those properties please contact the eTeam anytime, we would be glad to help.

Monday, June 14, 2010

#2 in a Series of 8 Articles – AN INVITING ENTRY for your Albuquerque home

What is the “Functionality” of an Entry and/or Foyer? This is where you are able to set the tone for the rest of the home and create some impact on the first-time visitor. Intensify this impression by adding some extra pizzazz and drama to this part of your Albuquerque home to generate extra interest. Using mirrors, artwork, tables and rugs are not only functional, but they also provide your guest with an appealing introduction that will impart a lingering effect when entering and leaving the home.

When possible have a table in the entry where Realtors can leave their business cards for you and your Listing Realtor to review at a later date. Remember, first impressions are everything!

For more information about how to get your property staged, or for a consultation, please contact:

Karla McWhorter

Interior Styling by Karla
Ph: 275-6819 Cell: 228-3489

Sunday, June 06, 2010

Amazing Featured Property in Brazos, New Mexico

Amazing property located in the Brazos, New Mexico - 20 acres of privacy overlooking the Brazos River...decks with river views and steps away from great trout fishing!


New service for the eTeam Real Estate Group

Now, search for Santa Fe and Northern New Mexico MLS with one easy site - learn what the buzz is all about in the wonderful area of Northern New Mexico!


Thursday, June 03, 2010

Staging Tips to Help Sell Your Home

This will be a series of helpful hints for staging, brought to you by my favorite local designer - "Interior Styling by Karla"

8 Part Series

Article #1 – “Curb Appeal”

Driving by a potential Buyer may say to themselves “Hmm… do I want to stop – do I want to look at this house.” The house needs to be as inviting and welcoming from the outside as it is from the inside. It is very important that people want to stop and look at the house, because if there is no curb appeal - there is no reason to stop and look. Your yards are just as important as the inside of the home is. Their interests need to be perked. Remember – you never get a 2nd chance to make a notable 1st impression! This applies to curb appeal more than ever.

Karla McWhorter
Interior Styling by Karla
Ph: 275-6819  Cell: 228-3489

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