So, you are betwixt buying and selling and killing some time. What to do? If you are a seller, look around your home and property. How many unfinished or unstarted projects do you see? It is amazing how many of us think we are going to do something but never quite get it done. If your selling plans are on hold, maybe it’s time to initiate an improvement plan. Not only will you enjoy the home more when you finish it, but when you are ready to sell, you’ll have added value. Buyers, too, can continue to prepare for their inevitable purchase. You’ll have more time to save for the down payment, maybe handle any small credit bumps you might have. Better credit will get you a better interest rate when you apply for your loan. When purchase money was 2.5 percent and your lower credit got you a 3 or 3.25 percent loan, the difference was acceptable, but at today’s rates you might want to consider doing a little credit repair to keep your rate manageable. Things you don’t want to do while waiting include incurring more debt by buying toys. It could have a negative impact on your loan process. The homeowner should stay away from incurring long-term contracts that a buyer would have to assume or be responsible for. Keep things simple. Sellers can focus on taking seasonal pictures of their property while they wait. Spring flowers, the greens of summer, colors of fall and the freshness of a winter day. Show your home at its best in every season of the year. You can share those with your agent when you go to sell or leave them out on the table for people looking at your home to enjoy as they contemplate living there. If you’ve accumulated debris about the property, this is a good time to get it cleaned out. Rather than do it during an escrow when you are packing to move among many other things, get things cleaned up now. When you come on the market, your property will look much better to a prospective buyer. Old cars tend to blend into the scenery, but they can cause concern to a buyer who doesn’t want the risk of having to be the one to remove them if you don’t. Talk to your agent periodically about the market. If you have not sold for a while, ask your agent about the contracts and disclosures you will be signing and how the process works. It will save you time and give you comfort and confidence when you enter the market. Buyers should do the same thing. Review the contracts and talk about the process. How will you be protected along the way, i.e. – inspections, disclosures, appraisal, etc.? It should all make sense to you even if you don’t understand it all. Kind of like taking your car to the mechanic – it makes sense when he describes it, but you wouldn’t know which nut to turn first doing it yourself. Don’t try reading every real estate article every day while you are determining what you are going to do. There will be conflicting points of view, plenty of speculation, and too much emphasis on the national market, not our local market. Keep your finger on the pulse of the market by reading local material when available, talking to your agent, and paying attention to what is going on in your neighborhood, or the neighborhood where you would like to buy. Your opportunity to act will present itself when the time is right. Establish a vision of what you would like to have happen in your eventual transaction and if it is clear enough you will no doubt manifest it and live your dream. When it comes to choosing professionals to assist you with your Real Estate needs… Experience is Priceless! Jim Valentine, RE/MAX Realty Affiliates, BS.3481, 775-781-3704. dpwtigers@hotmail.com
