Pee You Your Home Stinks!!!!!!!!!!!!!!!!!!!!!!!!!!!

Homebuyers don't want houses that stink. Sellers must identify and remediate odors that make prospective purchasers hold their noses and run for the exits. Unfortunately, it's not always easy for sellers to identify familiar smells that might be problematic. There is no odor meter people get used to the odor of their house and may not notice that something is not pleasant

Outside sniffers
The best way to find out whether a house smells OK is to ask someone who doesn't live there to come inside and give an opinion. The obvious "someone" would be the real-estate broker hired to sell the home. But not all brokers will point out that a house smells bad, even if they're willing to offer other helpful suggestions.
Some agents are not outspoken about odor issues, instead they rely on other agents who bring buyers to see the property to break the bad news. That way, the message gets delivered with less risk to their cordial relationship with the sellers.

Pet odors
The two most common sources of difficult and offensive odors are pets and cigarettes, neither of which, is easy to remediate. The point might seem obvious, but the first line of defense in any smelly situation is to remove the source of the problem, even if that means a beloved pet must board elsewhere for a while.
It's not the nicest thing to do but you have to present the question to them "would you buy a house that smells like a dog or cat if you don't have one?" Cat urine, among the worst of the bad odors, can seep into carpet fibers, carpet padding, concrete and wood floors, upholstery fabrics, and furniture cushions and pillows.
Oftentimes you have to remove the carpet, remove the pad and seal the floor, and then replace the carpet and the pad.

No smoking
Cigarette smoke can cling to furnishings, drapes and other window coverings and work its way inside walls. Some topically applied solutions can help to reduce the stench, but an ozone generator, hydroxyl generator or air scrubber should be more effective. Experts find these methods very effective in absorbing odors, though there is no guarantee that an odor can be eliminated.

We know you love that house but please price it right!!

Many home sellers these days are unrealistically optimistic, asking considerably more than they're likely to get. As a result, they risk long delays in finding buyers, which means a lot of lost revenue while the house sits idle on the market.  Homeowners who bought after the housing bubble peaked in 2007 were even more unrealistic than those who bought before or during the bubble, perhaps because post-bubble buyers thought they got better bargains than they actually did. Nearby homes that have sold in the past six months or so may be quite different from yours in appearance or condition, and there may be too few recent sales to get a proper valuation. That being said, you won't have much chance of getting a premium price on a cookie-cutter condo if identical units have sold for less.  As a seller, you have a right to ask for whatever price you want, which you can drop if no one bites. You may get lucky, but asking too much involves a number of risks, even if you're just "testing the market" for a few weeks or months. On one side of the issue, you might get your high asking price, also it's possible that someone will find your home so perfect that it justifies a premium price. For example, a home with a garage converted into a shop may be a turnoff to most buyers because most of them have cars, but a nondriving tinkerer may love the extra work space.

More often, though, pricing your home too high works against you in some important ways. Here are three of them:

1. Agents react. Real-estate agents (yours and the buyers) may not want to waste time with a home that's unlikely to sell. Though a higher price means a bigger commission, agents might figure they can move two or three homes in the time it would take to sell yours, earning more even if each offers a smaller commission than your property does.

2. Buyers react. Buyers who like your house but pass on your property because of the price may find something else and close a deal before you drop your asking price to a level they'd accept.

3. You need that money. Even if you get your full asking price, the time it takes to get it may cause you to miss out on the house you want to buy. You may have to settle for something that's not as suitable.

Setting a proper sale price is both an art and a science. A key step is to shop carefully for an agent who can help you, looking for one who is very familiar with your community and comes with good references. Steer clear of dabblers who sell only a few homes a year. You want a pro who is on top of the market and will value a good reference from you. Keep in mind that a computer that spits out comparable sales isn't likely to know that your home has a new kitchen and the others don't.  Finally, keep an eye on the "traffic" - the number of potential buyers who come through your property. A good agent will have a sense of how many buyers are looking. If you are not getting your share, it's a sign you are reaching on price. If dropping your price is inevitable, it's better to do it sooner than later.

Keep it in the family?

Purchasing from family can cause friction between relatives from the early stages of negotiation until well into home occupancy. Jealousy from other relatives, buyer remorse and resentment are just a few of the issues that may wreak havoc on family relationships. While these are all common downsides of business transactions, it's important to remember when doing business with family that the business relationship often carries over into personal relationships. If you're considering doing business with family, make sure both parties are aware of these potential pitfalls and understand the risks before entering into a purchase agreement.
Now that you have a clear understanding of the benefits and risks of buying a home from a family member, here are a few tips when buying from a family member:

Ensure mortgages are current If the home is still financed, be sure that the mortgage payments are in good standing. The last thing you want is a lien put on the home when you are trying to purchase it.


 Seek legal advice Make sure you have a lawyer look over all of the paperwork, including the offer, any counter offers and your purchase agreement. They will likely catch something you or your Realtor may have missed, and make certain the appropriate verbiage is in your contract to protect your property investment.
Once you've covered all of your bases, including understanding the risks, benefits and best practices for purchasing a home from a family member, you can be well on your way to entering into an agreement that meets both you and your family's needs. 

Use a REALTOR®  Many realtors are experienced in dealing with sales between family members. If this is the first time you are buying from a relative, your Realtor will be able to ask and answer the right questions for you to make sure your sale goes smoothly.

Strategies to Help Save Energy in Your Home

With the price of oil on the rise - let's be honest, with the price of everything on the rise - these simple strategies to help save energy in your home will help when having to make difficult decisions in your household budget. One of the smartest strategies to help save energy in your home is lowering your thermostat when you go to sleep and when you're away. Start with a comfortable setting of 68 F, then turn it down by 10 degrees on your way out. Save on your peace of mind, too, by installing a programmable energy-saving thermostat. Most are priced under $100 and will pay for themselves within one year of proper use.

• Avoid the Draft with Weather Stripping on Your Doors and Windows

 How many times have you walked by a closed window or exterior door and felt a tiny bit of air rush in? Those little bits add up to a lot of heat rushing out in the course of a year, and more during harsh winters. Covering them up is one of the best strategies to help save energy in your home. It's also one of the least expensive. A 10 foot roll of weather stripping costs under $10. For less than $50 or so, and within a couple of hours, you can avoid heating the outdoors.

• Clean or Replace Air Filters Regularly

Another one of the low-cost strategies to help save energy in your home is monitoring the wear and tear of your air filter. Do this throughout the year, not only during high-use seasons of summer and winter. A clogged filter will make your heating/cooling system work harder, so the roughly $20 to $50 you spend on a new filter is well worth it. You can avoid even this minimal expense by cleaning the filter frequently.

• Invest in Insulation That's Good for Your House and Health

There are always going to be costly strategies to help save energy in your home. However, depending on how long you plan to stay where you are, they could pay for themselves over time.
If you're fortunate enough to have a little extra cash on hand, one of the most cost-effective strategies is to invest in proper insulation. If you still have home insulation used in the 1920s, it's high time for you to upgrade!
Considering insulation is sealed in walls and ensconced in attics and crawl spaces, you might be surprised at how it can deteriorate over time. A combination of moisture and animal waste (the smallest holes provide a damp breeding ground for the tiniest creatures) over the years can do a lot of damage. You'll also find that today's materials are far more efficient than what you may currently have.

21 ?'s for your realtor when buying your 1st home

When it comes to purchasing your first home, buyers need to remember that their realtor is there to help ease the process and should take advantage of each opportunity to learn from them. Similar to a lawyer or any other consultant, a realtor is your advocate and counsel for the duration of the home buying life cycle, from the home search to close of escrow.

At a minimum, these are some of the most common questions to ask a realtor when buying your first home:

1) Is the listing price in line with market value?

2) What is a fair offer on the property based on recent comparables?

3) How long has the property been on the market?

4) How motivated is the seller?

5) What price did the seller pay for the home?

6) What is the age and condition of the property?

7) How many people have owned the property?

8) What items are included in the sale (e.g. appliances, window coverings, etc.)?

9) What are the annual taxes?

10) Is there a monthly or quarterly HOA?

11) Is the current owner up-to-date on payments?

12) How quickly can the property close?

13) Has all work on the house been completed with permit and to code?

14) What schools is the property zoned for?

15) Is there much crime in the neighborhood?

16) What type of utilities does the home require (e.g. oil, gas, septic, etc.)?

17) Who do you recommend to perform the home inspection, and why?

18) Which title company do you recommend, and why?

19) What is your relationship with the listing agent?

20) Do I need to be pre-qualified to write an offer?

And most importantly:

21) Is there anything you need to tell me that I haven't already asked?

Although a list of 21 questions may seem like overkill, when it comes to buying your first home, you can never be too informed. Realtors are people too and, regardless of how celebrated or highly recommended they are, they can forget to mention important details as easily as any other. As the buyer, it is your responsibility to ask the right questions and be as knowledgeable about the home as possible.

At the end of the day, you want to be comfortable that you made the best decision to purchase your new home. Your understanding of the property and transaction will greatly determine your confidence and satisfaction level with your decision - so don't hesitate to fire away with the questions (and be sure to take notes)!

Three Classic Mistakes of First Time Home Buyers

As an HGTV-addict, I sometimes want to shout at the featured homebuyers on shows such as Property Virgins, "ignore the light fixtures, they can be easily replaced!" or "don’t pay any attention to the paint color, you can fix it in an afternoon!" and "listen to your home inspector when he says that water damage could indicate serious problems!" Homebuyers, especially those with little experience, are prone to making all kinds of mistakes, from ignoring catastrophic problems (water damage) and obsessing about details that barely matter (wallpaper). Today, with low housing prices in many areas and equally tempting interest rates, more newbies are being lured into the market. First-time buyers now make up 45 percent of the market, up from 34 percent in 2007. But are they equipped to make the right choices? Here are three classic mistakes they make:

1) Being turned off by problems that are easily fixed. Did you know that almost nine in ten first-time home buyers are looking for move-in ready homes? Other first-time buyers want to live near shops, their work, and highly-rated schools. While location isn’t negotiable, many smaller fixes are, such as a dirty carpet or scratched up hardwood floor. Buyers sometimes focus on things like carpet, but that’s really a renters mentality, they forget that they can make all these changes themselves. Buyers should be asking their real estate agent for help understanding how costly fixes will be, and to grill the home inspector, as well. 

The lesson: In this buyer-friendly market we are in now many first-time buyers can satisfy their high standards.  High standards can work to your advantage, but don’t forget that some fixes are relatively easy (and cheap), such as cosmetic makeovers.

2) Overlooking hidden costs. Home ownership brings a bunch of different expenses, from closing costs to appliance maintenance to homeowners insurance.  Homes might not be as cheap as they look, especially if you buy a distressed property that hasn’t been well-cared for in recent years. Home maintenance typically costs one to three percent of the purchase price, which is as much as $9,000 a year on a $300,000 home.

The lesson: Since there are bound to be plenty of unexpected costs during that first year of home ownership, leave plenty of room in your budget to absorb the extra expenses.

3) Failing to budget for DIY-projects. Not so long ago, DIY (do-it-yourself) television shows let first-time home owners believe that anyone could fix-up their home. More recently, the art of fixing up houses has fallen out of favor, and the reason appears to be financial. The DIY (do-it-yourself) home improvement market has fallen 21 percent in the last 10 years.  While about one in four would-be-DIYers say they want to start on a major renovation, they simply can’t afford it right now.

The lesson: When purchasing a home, reserve some cash for needed DIY projects during the first year of home ownership.  Padding your budget can prevent late-night panic attacks when the dishwasher starts leaking all over your new floor. 

Life & Times In Colorado Real Estate: A few tips for homeowners selling a family home

Life & Times In Colorado Real Estate: A few tips for homeowners selling a family home: "Be honest about the reason you are selling . If it is financially related, don't be afraid to admit the need to downsize. If it's for more ..."