You do not always need a lot of money to increase the value of your home.
In these troubled times, most of us can not afford to pay a stager thousands of dollars to design the interior spaces. Here are some thoughts to get your property in tip top shape without breaking the bank!
1. First, get informed as to "what's hot" and "what's not" by visiting other open houses in exclusive neighborhoods nearby. You will quickly see what colors they have on the walls, how furnishings are positioned and you will definitely get some good ideas for decorating your own home. Ask the agent if you may take photos so that if you are having a contractor or handyman copy something, they will have an excellent idea of what you are trying to achieve.
2. You may also do as I have, visit exclusive interior design shops. Again, go into the high-end shopping areas for the best and most recent innovations in home design. You will find sample kitchens and bathrooms that will provide so many ideas and of course you can ask the sales associates about the materials used. You may also elect to purchase some items that will have a large impact and that can not be easily reproduced.
3. Pay for a consultation from a designer in a shop you appreciate or ask a friend to recommend someone. This could be very valuable since they will share ideas and that may be enough for you to move your home in the right direction.
4. Don't forget a resource everyone has.... your friends and family. If you need furnishings and do not have the money to afford them, ask each of your friends to lend you 2 pieces. If you have 4 friends that would give you 8 lovely pieces to add to your home. You are also inviting your friends and family to help you in this process and helping those we care about feels good.
5. Remember that many buyers make up their minds on a property at the CURB and spend the rest of the time trying to justify that FIRST IMPRESSION. Stand at your curb and see how you can improve the overall look and feel of your home and also exam if the exterior of your property matches the interior theme.
6. Paint, Paint, Paint. If you can not afford to paint a tired exterior paint just the trims or the decorative pieces along side the windows. The fresh paint will provide a good contrast and liven up the overall feel of the house. Paint in neutrals for the interior and use darker colors for rooms that are very very large and lighter colors for small rooms and spaces. Always keep in mind that you wish to attract the most buyers possible so keep your selections to calming neutral colors. Again, you can go to open houses and design shops for references.
7. Repair or Replace the Front Door: In searching for a front door do not forget to look on-line since just about everything is sold on-line. You may find an antique! If you do elect to keep your front door perhaps changing the hardware or painting would improve the overall appeal.
8. Small rooms or odd shaped spaces: These areas MUST be defined with decor or the buyer will not give that area any value and this will be reflected in the offer. Moreover, they may not believe the space could be used and that is why the use must be shown.
9. Lighting: Recessed lighting is costly but you can invest in table and floor lamps and spot lights for very little today. Again, this will lighten up the space, provide warmth expected in a home and also make a smaller space feel larger. Perhaps you have enough lighting fixtures and all you need are bulbs with a higher voltage.
10. Outdoor Living Spaces: Many homeowners are now using their outdoor areas as an extension of their home. If you have a small yard a buyer will see that as a negative. If you decorate the area with charming outdoor furniture, some candles, etc. this space will become a positive. The buyer may think, " Wow, we can sit under the stars and have dinner!" See how a little shift can turn a negative feature into something positive and don't forget, it will also add additional value to the property.
11. Lastly, make everything look and smell clean. For example: Be sure your kitchen & bathroom sinks are free of dirty dishes and debris, all fixtures clean, your trash cans emptied, tables and chairs free of clothes and clutter, etc.
Good Luck to Everyone!
Connie De Groot
Tuesday, September 23, 2008
Friday, September 19, 2008
US Stocks- Extraordinary Rescue Effort Spurs Wall Street Rally
NEW YORK, Sept 19 (Reuters) - Sweeping government measures to rescue the financial system and restore confidence in shaky markets spurred a huge relief rally in U.S. stocks on Friday, ending a week when the financial landscape underwent the most dramatic reshaping since the Great Depression.
The benchmark S&P 500 index had its biggest two-day rally since October 21, 1987, two days after the 1987 stock market crash.
Led by U.S. Treasury Secretary Henry Paulson, officials are working on a solution to mop up hundreds of billions of dollars worth of bad mortgage debt.
In another extraordinary action, the United States joined the United Kingdom in temporarily banning bets that financial stocks will fall, while the Federal Reserve said it will use $50 billion to back money-market mutual funds.
The moves came at the end of an agonizing week for Wall Street, in which Lehman Brothers filed for bankruptcy, insurer American International Group (AIG.N: Quote, Profile, Research, Stock Buzz) was bailed out by the government and Merrill Lynch (MER.N: Quote, Profile, Research, Stock Buzz) was forced into a shotgun marriage with Bank of America (BAC.N: Quote, Profile, Research, Stock Buzz). Investors had worried that the confluence of crises severely threatened the stability of the U.S. economy.
But even with the furious two-day rally, stocks still ended essentially flat in a week marked by extreme volatility -- with the Dow plummeting more than 500 points on Monday, only to rise on Tuesday and drop again on Wednesday.
"The government plan is seen as a comprehensive solution rather than a series of ad hoc, piecemeal moves," said John Praveen, chief investment strategist at Prudential International Investments Advisers LLC in Newark, New Jersey, noting that the ban on short-selling was also contributing to the surge in financial stocks as short sellers bought stocks to close out their positions.
An S&P index of financial stocks jumped 11.1 percent.
Short sellers, who profit when stocks fall, have been blamed for contributing to the demise of Lehman Brothers and the steep declines in other financial stocks this year.
The Dow Jones industrial average .DJI closed up 368.75 points, or 3.35 percent, at 11,388.44. The Standard & Poor's 500 Index .SPX advanced 48.57 points, or 4.03 percent, to 1,255.08. The Nasdaq Composite Index .IXIC shot up 74.80 points, or 3.40 percent, to 2,273.90.
Shares of Washington Mutual (WM.N: Quote, Profile, Research, Stock Buzz) surged 42.1 percent to $4.25 after the Wall Street Journal reported that Citigroup (C.N: Quote, Profile, Research, Stock Buzz) was considering making a bid for the U.S. savings and loan. Citigroup shares leaped 22.7 percent to $20.65 on the New York Stock Exchange.
Shares of Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz), punished earlier this week as investors fretted about the outlook for the last two remaining U.S. investment banks, jumped 20.7 percent to $27.21. Shares of rival Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) climbed 20.2 percent to $129.80.
Morgan Stanley's talks with Wachovia Corp (WB.N: Quote, Profile, Research, Stock Buzz), China Investment Corp and other institutions continue, a person familiar with the matter said, though the rebound in its securities gives the investment bank more time to consider its options. Wachovia's stock surged 29.3 percent to $18.75.
Trading was heavy on the New York Stock Exchange, with about 3 billion shares changing hands, far above last year's estimated daily average of roughly 1.9 billion, while on Nasdaq, about 3.8 billion shares traded, also trouncing last year's daily average of 2.17 billion.
Advancing stocks outnumbered declining ones on the NYSE by about 7 to 1 and on the Nasdaq, by about 2 to 1. (Additional reporting by Steven C. Johnson; Editing by Jan Paschal)
Led by U.S. Treasury Secretary Henry Paulson, officials are working on a solution to mop up hundreds of billions of dollars worth of bad mortgage debt.
In another extraordinary action, the United States joined the United Kingdom in temporarily banning bets that financial stocks will fall, while the Federal Reserve said it will use $50 billion to back money-market mutual funds.
The moves came at the end of an agonizing week for Wall Street, in which Lehman Brothers filed for bankruptcy, insurer American International Group (AIG.N: Quote, Profile, Research, Stock Buzz) was bailed out by the government and Merrill Lynch (MER.N: Quote, Profile, Research, Stock Buzz) was forced into a shotgun marriage with Bank of America (BAC.N: Quote, Profile, Research, Stock Buzz). Investors had worried that the confluence of crises severely threatened the stability of the U.S. economy.
But even with the furious two-day rally, stocks still ended essentially flat in a week marked by extreme volatility -- with the Dow plummeting more than 500 points on Monday, only to rise on Tuesday and drop again on Wednesday.
"The government plan is seen as a comprehensive solution rather than a series of ad hoc, piecemeal moves," said John Praveen, chief investment strategist at Prudential International Investments Advisers LLC in Newark, New Jersey, noting that the ban on short-selling was also contributing to the surge in financial stocks as short sellers bought stocks to close out their positions.
An S&P index of financial stocks jumped 11.1 percent.
Short sellers, who profit when stocks fall, have been blamed for contributing to the demise of Lehman Brothers and the steep declines in other financial stocks this year.
The Dow Jones industrial average .DJI closed up 368.75 points, or 3.35 percent, at 11,388.44. The Standard & Poor's 500 Index .SPX advanced 48.57 points, or 4.03 percent, to 1,255.08. The Nasdaq Composite Index .IXIC shot up 74.80 points, or 3.40 percent, to 2,273.90.
Shares of Washington Mutual (WM.N: Quote, Profile, Research, Stock Buzz) surged 42.1 percent to $4.25 after the Wall Street Journal reported that Citigroup (C.N: Quote, Profile, Research, Stock Buzz) was considering making a bid for the U.S. savings and loan. Citigroup shares leaped 22.7 percent to $20.65 on the New York Stock Exchange.
Shares of Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz), punished earlier this week as investors fretted about the outlook for the last two remaining U.S. investment banks, jumped 20.7 percent to $27.21. Shares of rival Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) climbed 20.2 percent to $129.80.
Morgan Stanley's talks with Wachovia Corp (WB.N: Quote, Profile, Research, Stock Buzz), China Investment Corp and other institutions continue, a person familiar with the matter said, though the rebound in its securities gives the investment bank more time to consider its options. Wachovia's stock surged 29.3 percent to $18.75.
Trading was heavy on the New York Stock Exchange, with about 3 billion shares changing hands, far above last year's estimated daily average of roughly 1.9 billion, while on Nasdaq, about 3.8 billion shares traded, also trouncing last year's daily average of 2.17 billion.
Advancing stocks outnumbered declining ones on the NYSE by about 7 to 1 and on the Nasdaq, by about 2 to 1. (Additional reporting by Steven C. Johnson; Editing by Jan Paschal)
Source: Thomson Reuters 2008
Monday, September 8, 2008
Back To Basics
This past year has been challenging to many but it has offered powerful lessons as well. Many first-time home buyers are struggling with unsatisfactory loan terms of which some will be forced to make difficult decisions that will have long lasting effects. Here are some basic tips to keep in mind if you are out there now looking to buy:
1. Do not proceed if you can not COMFORTABLY afford to handle this financial obligation. Carefully read the loan documents and have them also reviewed by someone you trust.
2. Plan and SAVE for the unexpected. Have reserve accounts for life's surprises.
3. Do not buy on impulse! Take time to inspect a home and the neighborhood. Be sure you have looked at comparable homes in the area to be sure you are not over-paying.
4. Try not to buy on a busy (noisy) street.
5. Try to avoid buying a home with more than 2 levels
6. Try to avoid buying a home that has too unique a floor plan or style that is hard to change.
Remember, one day you may want to sell the property you are buying today so think not only as a Buyer but also as a Seller! In a healthy market, almost anything will sell but in a market like today, those same properties suffer the greatest losses. Since one never knows when they may have to sell, it is best to go for the best location and most popular style home you can afford. If you keep these basic points in mind and surround yourself with experienced professionals, you should do well in any market.
Good luck and Good Fortune to all!
1. Do not proceed if you can not COMFORTABLY afford to handle this financial obligation. Carefully read the loan documents and have them also reviewed by someone you trust.
2. Plan and SAVE for the unexpected. Have reserve accounts for life's surprises.
3. Do not buy on impulse! Take time to inspect a home and the neighborhood. Be sure you have looked at comparable homes in the area to be sure you are not over-paying.
4. Try not to buy on a busy (noisy) street.
5. Try to avoid buying a home with more than 2 levels
6. Try to avoid buying a home that has too unique a floor plan or style that is hard to change.
Remember, one day you may want to sell the property you are buying today so think not only as a Buyer but also as a Seller! In a healthy market, almost anything will sell but in a market like today, those same properties suffer the greatest losses. Since one never knows when they may have to sell, it is best to go for the best location and most popular style home you can afford. If you keep these basic points in mind and surround yourself with experienced professionals, you should do well in any market.
Good luck and Good Fortune to all!
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