CHOMP that Wallpaper

Wallpaper and border is usually the first thing that needs to go when getting ready to sell your house. It seems like a nightmare project, but JUST DO IT! Some sellers are tempted to leave it because it's too much work for them and the next buyers might like it or take it down themselves. Bad idea--in most cases it will be a huge turn off to buyers viewing your home and they will assume it's very expensive to remove. So if they do decide to make an offer--despite your ugly wallpaper--they will low ball you.

So, get busy removing your wallpaper and border. Try this product I just used to remove some decals and border in my daughter's bathroom. It's called CHOMP and it was so effective. I wiped it on the borders and decals and in a few minutes they all just wiped right off. It took no time at all and no hard work or scrubbing. I purchased it at Home Depot but I'm sure it's sold at any home improvement or hardware store.

Hope it works as well for you...happy chomping!

Possibly the Cutest House for Sale in Bainbridge!

Help me spread the word about this terrific home on Old Meadow in Bainbridge. The owners have renovated it top to bottom. The highlight is this awesome Kraftmaid kitchen. Every bath has been redone, it has tons of living space, and is on a beautiful 1.5 acre lot. All this for just $295K! Tell your friends looking for a home in Kenston Schools....

Police Blotter an Entertaining Diversion

I love reading the Chagrin Solon Sun's Police Blotter every week. It's usually entertaining, and sometimes paints a picture of our communities that goes against the stereotype. Or sometimes is spot on!

Here's a great one from this week's paper regarding Chagrin Falls...

"Criminal Mischief - A worker with the Village Service Department reported that there was extensive graffiti on the walls and pavement of the shopping center. "

OMG!!! Are inner-city taggers invading the Falls???

But, no. "But officials soon discovered everything had been done in chalk, including peace signs, and recommendations to 'recycle' and 'thaw out.'" Hilarious!!

Here's another one that shows true criminal behavior here in the Valley...

"It appeared shortly after daybreak that someone climbed the fence overnight at the Chagrin Falls Recreation Center and rearranged some chairs around the pool." Love that this is what's considered criminal behavior here!

So I Didn't Imagine It...

The Plain Dealer reported today that December home sales were up. So I didn't imagine that I was crazy busy late last year! The holidays are typically a VERY quiet time real estate agents. But I found just the opposite this year...I was even showing houses right up until Christmas eve!

The PD said that Northeast Ohio home sales rose 10.6% from November to December. This was for both previously owned homes and new construction.

Thankfully, January seems to be just as busy. The lesson here...if you are thinking of listing your home, NOW is the time. Don't wait until the spring market is in full force and there's twice the competition.

Considering a Home Improvement Project?

Are you considering remodeling your home, and wondering what it will do to your property value? My philosophy is if you're planning to stay in your home for a long time -- go for it! Make a change that works for your family, and don't be so concerned with how it will affect resale.

But if you're thinking of selling in the next few years, you should consider its cost effectiveness. A recent article from National Association of Realtors highlights the importance exterior projects, which provide the most value but also are some of the least expensive improvements. For example, replacing your steel entry door or garage doors.

In terms of the interior, you recoup the most of your cost with an attic bedroom addition (71.4% cost recouped) or major kitchen remodel (60.3%).

Click here to check on the cost effectiveness of other projects: http://www.realtor.org/rmohome_and_design/costvsvalue

Of course, it's always best to check with a real estate agent (like me!) to see if the update or remodel makes sense for your home, neighborhood and today's market.

We're Still the One

Sales numbers for 2010 are in, and Howard Hanna is the #1 real estate company in Ohio and the undisputed leader in home sales in virtually every county in which we serve.

Here is our market share in the counties I work in:
Cuyahoga 47%
Geauga 57%
Portage 32%
Lake 40%

When choosing a broker for your real estate needs, shouldn't you go with the market leader, the best? You deserve it!

Buying a Home that's a Short Sale

So many of my friends and clients seem to be confused about short sales....so I thought I would try and shed some light. Short sales are NOT bank owned properties--they have NOT been foreclosed upon.

Short sales are when a mortgage holder agrees to take less than the unpaid balance on a loan. These are more common today because of the mortgage boom and bust. A lot of people overpaid for their homes a few years ago. Now for whatever reason they need to sell and home values have dropped. So maybe the house they paid $400,000 for may be worth only $320,000. How can they take $320K ( or less, after commissions, closing costs etc.) and still pay off their mortgage? They can't -- hence the short sale.

Most of my clients are the buyers in a short sale situation. For buyers, here are some important things to keep in mind:

1) Short sales can take longer to close - You are essentially negotiating a selling price with multiple parties - the homeowner, their lender, and possibly more than one lender and a mortgage insurer. They all need to get paid so they all have a say in the negotiations. Lenders tend to be very backed up with shorts sales and foreclosures too, so they don't always respond to offers in a timely manner.

2) Low ball offers don't work - So many of my clients think, "Great! A short sale! Let's offer half of the asking price and see what happens!" I can tell you what happens...your offer goes to the bottom of the pile or in the proverbial circular file. In most cases, the home is already a pretty good deal and crazy low offers will be ignored. Also, the lender(s) have a bottom price in mind and they won't take less for it.

3) Lenders can counter your offer - Again, don't think you're going to get it with the first offer you bring in the door.

4) Short sale deals fall apart - Because the transactions are so complex with many parties involved, issues can arise at any time right up to the day of closing. I suggest you never count your chickens on these ones until the title is transferred.

5) Have your ducks in a row - Lenders are more responsive if you have a preapproval for a loan and a good down payment.

Have I scared you off? I hope not. There are lots of short sales out there -- probably more than anyone realizes at this point -- and they can be a great opportunity. With a lot of patience, a flexible timeline, and a GREAT real estate professional (like me) who can walk you through the process, a short sale can be a smart buy.