Scott's Blog

Below is a feature article from our June newsletter on the importance of neutralizing your home. What may seem like less personality can really translate into more profits for the seller, and more appeal for the homebuyer.

Neutralize your home

Buyers will almost always comment on what they visually see within seconds of walking into a home. “Look at that wallpaper” or “Wow, somebody likes bright pink!”. While its perfectly fine to have your own personal color preferences, when you are selling your home, you must learn to disassociate yourself with this house.

You have to see and feel in the eyes of the buyer. While you may see nostalgic rooms and colors with memories, unfortunately the buyer sees patterns, smaller rooms & more work. Solution: Buyers like clean lines, light neutral colors and less work.

If you have busy wallpaper or borders on your walls, it is well worth your time and money to have it removed, or skim coated and repainted in neutral, light tones. Do you have bold or dark colored rooms?

Neutralize, neutralize, neutralize! What may appear boring to you will seem like a lighter and larger space to the buyer, translating to more money in your pocket! You can also brighten up any room with strategically placed mirrors, by bouncing light to darker corners of your home. Also, consider the cost of repainting the exterior of your home with a fresh, neutral tone, & don’t forget to clean up your yard & landscaping. Unsure about picking the right neutral color? No worries! Go into your local paint or hardware store & bring home some neutral samples to discuss with your Realtor.

Think Simple, Clean, SOLD! Worried that you don’t have time to organize or choose the right colors? There are professionals who can help. Talk to us for referrals or search the yellow pages. This article will be archived in the Home Seller Resources file. Check out the latest Bedford NY real estate listings here!

Visit: www.bedford-ny-real-estate.com for more info and to read my daily blog!

Pound Ridge, NY August in Paradise!

Remarks: Stunning home on over 6 acres! Bright & open with spectacular views from every room! Relax by the Gunite pool. Cooks kitchen w/ professional stainless appliances, Updated baths, great flow. Feed the ducks & skip rocks at Crystal Pond. Enjoy distant views & BBQ on the oversized deck. Lower level w/ familyroom & flatscreen TV. Playground & sandbox for children. Beautifully furnished. New Veggie/Herb Garden. This is a 1 mo August rental. Available also long term for $8000/mo beginning Sept.
 
PROPERTY DETAILS:
Property Type:    Rental
Listing Status:    Active
Property Sub Type:    House
Listing Agent Contact Phone:    203-273-0055
Status Date:    04/09/2008
Area Name:    Pound Ridge
Style:    Contemporary
Year Built:    1963
Square Feet:    3300
Square Feet of Land:    264845
Exterior:    Wood
Garage Spaces:    2
Heat Type:    Electric
Air Conditioning:    Central
Water:    Well
Acres:    6.08
Pets Allowed:    Call Listing Agent
 
FEATURES & AMENITIES:
Fireplace:    Y
Amenities:    1st Fl Master Bedrm, Alarm System, Deck, Eat in Kitchen, Fireplace, Lake/Pond/Stream, Laundry Room, Master Bath, Patio, Pool, Skylight(s), Vaulted/Cath Ceiling, Walkout Basement, Water Access, Waterfront/View
Furnished:    Yes
Additional Features:    Alarm System, Dishwasher, Dryer, Garage Remotes, Generator, Greenhouse, Grill, Light Fixture, Play Set, Range, Refrigerator, Washer
 
ROOM INFORMATION:
Family Room:    Y
Bedrooms:    4
Total Full Baths:    3
 
SCHOOL INFORMATION:
School District:    Katonah-Lewisboro
 
FINANCIAL INFORMATION:
Rent/Lease:    $16,000
Lease Type:    Net
 
Virtual Tours
     MLS Virtual Tour Available! http://www.youtube.com/watch?v=1GeVvdNMmj0

Property Details for Listing #2811378
Courtesy of Keller Williams NY Realty 914-437-6100
Disclaimer: The information appearing herein has not been verified by the Westchester-Putnam Multiple Listing Service, Inc. or by the Westchester County Board of Realtors, Inc. or the Putnam County Association of Realtors, Inc. or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.
© 2008 Westchester-Putnam Multiple Listing Service, Inc. All rights reserved.

This listing has been updated as of 05-16-2008.

Unless a buyer intends to make a cash offer, its always important for buyers to get pre-qualified for a mortgage prior to buying a home. However, its not just about being pre-qualified to buy the next home. Unless the buyer is looking for a 2nd home/investment property, or is a first time buyer, they must focus on selling their current residence first. Despite the fed rate cuts, the market and mortgage industry are more stringent now then ever.

This past year or two have been pretty rough for those in the industry, but also for buyers and sellers. We have all heard horror stories about buyers who were pre-qualified prior to the falling out of the sub-prime mess, who found they were no longer qualified, sometimes days before closing due to their bank going out of business or program changes. For many who were mid-negotiation on a deal, this meant losing their dream home and starting over again. For sellers, it meant losing a sale.

Still, to my surprise, many buyers browse homes, and many agents take them out without requesting or asking if they are pre-qualified. It is important for both the agent and the buyer. Typically, buyers may be looking in an unrealistic price range, or perhaps haven't yet sold their primary residence to make the next transaction. Many a buyer (and agent for that matter) just do not realize its not that easy to get a bridge loan anymore. And, there are many criteria and caveats with those few lenders who do. 

Recently, I was working with some buyers who were afraid to sell their home first, fearing they would be homeless. They wanted me to show them their "dream home" that they planned to buy on the other side of town. When I politely asked them if they were pre-qualified, they looked at me funny. They said they could easily get a bridge loan and would sell their home when they could. After learning about their situation, being a mortgage broker as well as an agent, I knew they had either been advised a few years (or months) ago, or were ill advised. 

There is so much to think about for buyers its easy to overlook some very important details. Its important for agents to advise clients to speak to a reputable mortgage professional prior to shopping for a home, as it can save a lot of time and aggravation for all parties. For the clients in my example, they wouldnt have gotten their hopes up on their "dream home" on the other side of town, since they didn't qualify for a bridgeloan unless their current residence had a pending sale. They had unfortunately been avoiding placing it for sale, for fear of not having a home if they sold first. For many buyers, you have to first put your home for sale, and once you have a solid offer/contract, a qualified agent will be able to put contingencies into the offer on your next home, so that you don't lose, if the sale of the first falls through.

This is a great example of how mortgage brokers can be a great asset for buyers. Many small banks wont even look at bridge loans, and while they are still possible, the mortgage broker will be the best bet in hunting them down in this type of market.

Moral of the story- its definitely possible to buy your dream home, but speak to professionals who know how to do their job and are abreast of the ever changing market.

Scott Richardson, Realtor, Certified Mortgage Planning Specialist 

Authorized to originate loans in the following states:    
1st Mortgage Broker     AK, CT, MA, MI, MN, MO, NM, NY, ND, VA
2nd Mortgage Broker     AK, CT, MA, MI, MN, MO, NM, NY, ND, VA