Wednesday, July 28, 2010

7 Tips for a Profitable Home Closing

Article From Houselogic.com
By: G. M. Filisko

Published: February 10, 2010


Be sure you're walking away with all the money you're entitled to from the sale of your home.

When you're ready to close on the sale of your home and move to your new home, you may be so close to the finish line that you coast, thinking there's nothing left for you to do. Not so fast. It's easy to waste a few dollars here and for mistakes to creep into your closing documents there, all adding up to a bundle of lost profit. Spot money-losing problems with these seven tips.


1. TAKE SERVICES OUT OF YOUR NAME
Avoid a dispute with the buyers after closing over things like fees for the cable service you forgot to discontinue. Contact every utility and service provider to end or transfer service to your new address as of the closing date.


If you're on an automatic-fill schedule for heating oil or propane, don't pay for a pre-closing refill that provides free fuel for the new owner. Contact your insurer to terminate coverage on your old home, get coverage on your new home, and ask whether you're entitled to a refund of prepaid premium.

2. SPREAD THE WORD ON YOUR CHANGE OF ADDRESS
Provide the post office with your forwarding address two to four weeks before the closing. Also notify credit card companies, publication subscription departments, friends and family, and your financial institutions of your new address.


3. MANAGE THE MOVERS
Scrutinize your moving company's estimate. If you're making a long-distance move, which is often billed according to weight, note the weight of your property and watch so the movers don't use excessive padding to boost the weight. Also check with your homeowners insurer about coverage for your move. Usually movers cover only what they pack.


4. DO THE SETTLEMENT MATH
Title company employees are only human, so they can make mistakes. The day before your closing, check the math on your HUD-1 Settlement Statement.


5. REVIEW CHARGES ON YOUR SETTLEMENT STATEMENT
Are all mortgages being paid off, and are the payoff amounts correct? If your real estate agent promised you extras-such as a discounted commission or a home warranty policy-make sure that's included. Also check whether your real estate agent or title company added fees that weren't disclosed earlier. If any party suggests leaving items off the settlement statement, consult a lawyer about whether that might expose you to legal risk.


6. SEARCH FOR MISSING CREDITS
Be sure the settlement company properly credited you for prepaid expenses, such as property taxes and homeowners association fees, if applicable. If you've prepaid taxes for the year, you're entitled to a credit for the time you no longer own the home. Have you been credited for heating oil or propane left in the tank?


7. DON'T LEAVE MONEY IN ESCROW
End your home sale closing with nothing unresolved. Make sure the title company releases money already held in escrow for you, and avoid leaving sales proceeds in a new escrow to be dickered over later.


G.M. Filisko is an attorney and award-winning writer who has survived several closings. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Reprinted from HouseLogic (houselogic.com) with permission of the NATIONAL ASSOCIATION OF REALTORS (R).
Copyright 2010. All rights reserved.

Tuesday, July 27, 2010

North Portland on Large 7500sf. Lot


$185,000
8822 N. Drummond Ave.
Portland, OR 97217

North Portland on large 7500sf lot. 2bd/1ba with 2-car detached garage. Good condition. Check with city to determine if lot is dividable.

For more information and to view more properties go to www.realtysolutionspdx.com

Tuesday, July 13, 2010

6 Reasons to Reduce Your Home Price

Article From Houselogic.com
By: G. M. Filisko

Published: March 19, 2010

While you'd like to get the best price for your home, consider our six reasons to reduce your home price.

Home not selling? That could happen for a number of reasons you can't control, like a unique home layout or having one of the few homes in the neighborhood without a garage. There is one factor you can control: your home price.

These six signs may be telling you it's time to lower your price.

ONE–––YOU'RE DRAWING FEW LOOKERS
You get the most interest in your home right after you put it on the market because buyers want to catch a great new home before anybody else takes it. If your real estate agent reports there have been fewer buyers calling about and asking to tour your home than there have been for other homes in your area, that may be a sign buyers think it's overpriced and are waiting for the price to fall before viewing it.


TWO–––YOU'RE DRAWING LOTS OF LOOKERS BUT HAVE NO OFFERS
If you've had 30 sets of potential buyers come through your home and not a single one has made an offer, something is off. What are other agents telling your agent about your home? An overly high price may be discouraging buyers from making an offer.


THREE–––YOUR HOME'S BEEN ON THE MARKET LONGER THAN SIMILAR HOMES
Ask your real estate agent about the average number of days it takes to sell a home in your market. If the answer is 30 and you're pushing 45, your price may be affecting buyer interest. When a home sits on the market, buyers can begin to wonder if there's something wrong with it, which can delay a sale even further. At least consider lowering your asking price.


FOUR–––YOU HAVE A DEADLINE
If you've got to sell soon because of a job transfer or you've already purchased another home, it may be necessary to generate buyer interest by dropping your price so your home is a little lower priced than comparable homes in your area. Remember: It's not how much money you need that determines the sale price of your home, it's how much money a buyer is willing to spend.


FIVE–––YOU CAN'T MAKE UPGRADES
Maybe you're plum out of cash and don't have the funds to put fresh paint on the walls, clean the carpets, and add curb appeal. But the feedback your agent is reporting from buyers is that your home isn't as well-appointed as similarly priced homes. When your home has been on the market longer than comparable homes in better condition, it's time to accept that buyers expect to pay less for a home that doesn't show as well as others.


SIX–––THE COMPETITION HAS CHANGED
If weeks go by with no offers, continue to check out the competition. What have comparable homes sold for and what's still on the market? What new listings have been added since you listed your home for sale? If comparable home sales or new listings show your price is too steep, consider a price reduction.


G.M. Filisko is an attorney and award-winning writer who made strategic price reductions that led to the sale of a Wisconsin property. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Reprinted from HouseLogic (houselogic.com) with permission of the NATIONAL ASSOCIATION OF REALTORS (R).
Copyright 2010. All rights reserved.

Thursday, July 8, 2010

Top Quality and Location! Forest Heights Condo!



$325,000
2138 NW Village Circle
Portland, OR 97229

Forest Heights Condo at the Village Shops and steps from the beautiful park and walking trails. Open-living, dining w/gourmet kitchen, island w/5-burner cook top, stainless, granite, knotty alder cabinets & hardwood floors. 2 bedrooms each w/full bath. Master has fireplace, dual sinks, soak tub, walk-in. Central A/C, Fenced Patio, garage and low HOA's.

For more information & photos, or to view more listings, go to www.realtysolutionspdx.com!

Plant Trees To Save Energy and Grow Value

Article From HouseLogic.com

By: Brad Broberg
Published: September 12, 2009



Plant a tree to add value to your home
and have a positive impact on the environment.


Trees don't ask for much-dirt, water, sunlight. Yet they provide a wealth of benefits:
They improve the air you breathe, cut your energy bills with their shade, provide a home to wildlife, and add beauty and value to your home.

But every year, 3.2 million acres of forest are cut down, according to the Nature Conservancy (http://www.nature. org/initiatives/forests/misc/art22113.html). Several million more acres are lost to fire, storm, and disease. That's why planting new trees and protecting the ones we have is so important. You can do your part by....

  • Caring for the trees in your yard

  • Supporting tree-planting activities in your community

  • Donating to organizations, such as The Nature Conservancy, which works to preserve the world's trees and forests, and American Forests (http://www.americanforests.org), which offers a unique way to take action. First, use its online Climate Change Calculator (http://www.americanforests.org/resources/ccc/) to determine your carbon footprint.
    Then, make up for your emissions by donating to a forest restoration project.

Why should you care about trees? Bankable benefits
The most tangible bang from your bark comes from energy savings. Three properly placed trees could save you between $100 and $250 a year in energy costs, according to the U.S. Department of Energy (http://www.energy.gov). Trees save energy two main ways. Their shade cuts cooling costs in the summer. In winter, they serve as windbreak and help hold down heating costs.

The National Tree Calculator (http://www.treebenefits.com) estimates that a 12-inch elm in an Omaha yard can save $32.43 a year on your energy bills; the same tree in Atlanta would save you $11.89 annually.

The calculator also breaks down other dollars and cents benefits of your tree, like decreasing storm water runoff, removing carbon dioxide from the air, and increasing property values.


In our elm example, the 12-inch tree adds $40.23 to the Omaha home's value and a $57.33 to the one in Atlanta. And as trees grow larger, they can add even more value.

A 2002 study by the USDA Forest Service pegs the value a single tree adds to a property of about $630. Of course, tree value depends on size, species, location, and condition.

Adds Frank Lucco, a real estate appraiser with IRR-Residential in Houston, "On a $100,000 home [in my market], as much as $10,000 of its value could be associated with mature trees." That's peanuts compared with the role trees play as the lungs of the planet. A report by the Trust for Public Land (http://www.coloradotrees.org/benefits.htm) estimated that one mature tree takes 48 pounds of carbon out of the atmosphere each year and returns enough oxygen for two human beings.

Plant your tree in the right spot
To get the full benefits from your trees, choose the right one and put it in the right location. Planting a deciduous tree on the west side of a house provides cooling shade in the summer. In winter, after it loses its leaves, the same tree lets in sunlight that cuts heating and lighting bills. On the other hand, an evergreen on the west side blocks sun all year long, making a home colder and darker in winter. Rather plant evergreens, a great choice for blocking icy winter winds, on the north side of your home. 

If you're planting a new tree, think about its fully grown size and shape before you dig. Branches from a tree located below power lines can cause outages as it grows. Roots from a tree located too close to a home can damage the foundation or block sewer lines. The wrong tree in the wrong place could actually lower your home's appraised value if it's deemed hazardous, says Frank Lucco, a real estate appraiser with IRR-Residential in Houston.

Tree costs
Expect to pay $50 to $100 for a 6- to 7-foot decidious tree, such as a katsura or evergreen. The same tree at 15 feet will cost $100 to $200, according to Brad Swank of Molbak's Nursery in Woodinville, Wash. The Arbor Day Foundation sells saplings for as little as $8-$15, or less if you're a member.

Since trees cost money, be cautious about any home construction work. "Tree failure can happen seven to 10 years after construction, primarily because the root system fails when the soil is compacted," says Thomas Hanson, a member of the American Society of Consulting Arborists (http://www.asca-consultants.org) from Kirkland, Wash. Also watch for diseases or pests (http://forestry.about.com/od/diseases/tp/An-Index-of-Common-Tree-Diseas.htm) that can threaten trees in your yard and community.

Become a tree advocate
Ensuring that your community has lots of healthy trees doesn't have to be more complicated than a trip to the nursery and a hole in your backyard. Dig it twice as wide as deep. Let kids push in the dirt and help water weekly until the tree is two years old. The Arbor Day Foundation (http://www.arborday.org) will tell you how to select the right tree for your needs and climate, where to plant it, and how to maintain it.

The foundation also is a great place to look for community and educational programs.

  • Its Tree City USA (http://www.arborday.org/programs/treeCityUSA/) initiative provides expert advice and national recognition to cities and towns that want to establish tree-management plans.

  • Its Arbor Day Poster Contest (http://www.arborday.org/kids/postercontest/index.cfm) for fifth-graders gives teachers a fun way to help students learn the importance of trees.

  • Its nationwide list of volunteer organizations (http://www.arborday.org/programs/volunteers/index.cfm) lets you search for tree care opportunities in your state.

Considering everything trees do for you, it's the least you can do for them.

Brad Broberg is a freelance writer from Federal Way, Wash. A former newspaper reporter and editor, he writes about business, health care, and real estate for REALTOR Magazine, the Puget Sound Business Journal, and Seattle Children's Hospital, among others. He's lived in the same home for 22 years-a home he shares with seven towering Douglas firs.