Lifestyle Sells by Owner

September 15, 2008 by Bob · Leave a Comment 

Every For Sale by Owner (FSBO) is able to compete with the Real Estate community when it comes to selling homes.  Make sure you are prepared by knowing the facts and other inside info provided here at ByOwnerColorado.  Download the FREE Home Sellers guide and be armed with the info needed to be successful!

The following was authored by Elaine Manes and is from the Get Home Denver Team’s blog located at http://bloghomedenver.com.

Staging to sell Denver Real Estate

When you put your home on the market, you are selling more than the physical structure.  Think of it as selling a lifestyle.  This is why preparing your home is so important.  As buyers walk through your home, they are trying to imagine themselves living there.  A savvy seller will help them along the way!

Here are some suggestions to get you started:

One of the ways is to set the dining room table.  The china doesn’t come with the house, so why would you do it?  Because buyers want to believe that if they buy your home they will finally be able to have those fabulous dinner parties they’ve been dreaming about.  You are not trying to deceive buyers; you are just providing a visual to stimulate their imagination.

What do cluttered bathrooms bring to mind? A family rushing in the morning to get ready for work and school?  Countertops empty of everything but a shine, reflect a relaxed atmosphere, in addition to an overabundance of storage.  A strategically placed wine glass and book by the tub conjures up a vision of long bubble baths, something most buyers would find very appealing.

Don’t overlook the kitchen, which is one of the most important rooms to buyers.  Make sure all clutter is put away.  Place a cookbook on the counter, with it opened to a photo of a delectable dish.  Buyers imagine a lifestyle of gourmet meals, instead of hot dogs and macaroni and cheese.

It’s very important to keep toys picked up, fingerprints cleaned off walls, and any other sign that says if you buy this home, your kids will go wild.  A children’s book on the table next to the best reading chair will convey a positive image.

Soft music playing will give your home a soothing ambiance, in stark contrast to the blaring TV and kids screaming that the buyers may be experiencing now.  This will also cause buyers to slow down, which will allow them to experience your home in a more leisurely manner.  The longer they stay in your home, the better the chances they’ll write an offer.

If your home is more geared toward a single person or a couple without children, keep that in mind as you set the stage.  A small intimate seating area, complete with tray and coffee cups, might be an appealing addition.

Use your imagination, and think about what you would like to find in a home.  If you get stuck for ideas, visit a model home.  Hiring a professional stager is a great solution, too.  Stagers can look at your home objectively to make the necessary changes.

Just remember, selling a home can be made easier if you also offer buyers a new lifestyle.

Downpayment Partner Available!

September 2, 2008 by Bob · Leave a Comment 

The Douglas County Housing Partnership (DCHP) has a great program called the “Shared Equity Agreement Program.”  This program gives home buyers an equity “partner” in their home purchase.  This Program would be a great addition if you have little money and are looking to buy FSBO, or for sale by owner!

The biggest requirement is that to qualify, the buyer must work and purchase in Douglas County. Visit the DCHP website for more information.

Here is an overview of the program, from the DCHP:

What is It?

Opportunity for homeownership in Douglas County through use of “Shared Equity” with the Housing Partnership. DCHP will provide funds in the form of down payment and will provide the minimum amount necessary to bridge lender requirements and resources available to the buyer up to 20% of the purchase price or $50,000 whichever is smaller.

This down payment will be a deferred loan which must be repaid upon sale or refinance of the home, along with the same percentage share (of down payment amount) of any appreciation in the market value.

Who is Eligible?

bullet First-Time Homebuyers including persons that have not owned a home in the previous 3 years, single parents that have owned prior with a spouse, and displaced homemakers.
bullet People who work within the limits of Douglas County.
bullet Income limits are in two categories, below 80% of Area Median Income and below 100% Area Median Income.
AREA MEDIAN INCOME
80%
100%
80%
100%
1 person $40,200 $50,250 4 person $57,450 $71,800
2 person $45,950 $57,450 5 person $62,050 $77,550
3 person $51,700 $64,600 6 person $66,650 $83,300
bullet Borrowers under 80% AMI must contribute at least $1,000 towards the purchase.
bullet Borrowers above 80% AMI must contribute at least 3% of the purchase price.
bullet Borrower must occupy the home full time as their primary residence.

What Homes are Eligible?

Single Family Homes under $250,000 and town homes/condos under $225,000.
DCHP will review applications and consider physical location, condition, availability to transportation and schools, and resale marketability.

Home inspections will be required and reviewed by DCHP. Housing Quality Standards inspection will be performed by DCHP. Appraisals are required and buyer will sign authorization for lender to share appraisal with DCHP.

What Kind of Documents are Involved?

bullet Deed of Trust
bullet Promissory Note
bullet How money is paid back, example:
Sales Price
Homeowner
DCHP Equity
Original Purchase Price
$200,000
$160,000
$40,000
Value at Time
of Sale
$240,000
$192,000
$48,000

What Do I Need to Get Started?

bullet Take a class
bullet To obtain all required Shared Equite Programs documents, please call Travis Anderson, Program Director, at 303-784-7857.

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