To calculate how much remodel you can afford, follow these four steps: Ballpark the cost, establish a spending limit, make a wish list, and set your priorities.

What’s on your remodeling wish list? Maybe you’re longing for a spa-like master bathroom, a new eat-in kitchen, or a garage with space enough to fit your cars and your outdoor gear. Well, when it comes to home improvements, knowing what you want is the easy part. The tougher question is figuring out how much you can afford. Follow this four-step plan to arrive at the answer.

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Spring is time for selling, and to make your home as competitive as possible, use these simple staging and spruce up tips. For more information on what you can do to your home to make it more attractive to Buyers, contact Troy Richardson at RE/MAX Maple Leaf Realty today.
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When it comes to selling your home, cleanliness is right next to the pen that signs the contract. Make sure you make these things sparkle before putting up that Maple Leaf Realty sign in the yard of your Bennington home:

• Stove – if you can’t replace it, shine it up. Scrub the oven, replace burners, and polish those well-used burner knobs.

• Bathtub – get rid of the ring, scour soap scum, and re-caulk the edges. Do the same for the bathroom sink – the rust spots can turn off a buyer.

• Wood floors and carpets – we often forget about the floor beneath the furniture. Remove furniture, clean and polish to a lovely sheen and replace – perhaps trying out a better traffic flow while you are at it.

• Windows – pull off the screens and wash with a scrub brush or take to a car wash. A simple vinegar and water solution can give the glass a new shine. The new owners will see themselves in the surface – and in their home!

Home designers and builders speaking at the recent International Builders Show in Las Vegas say that buyers are seeking cost-effective features and rejecting things that don’t have lasting value.

“It’s all about family togetherness – casual living, entertaining and flexible spaces,” says Carol Lavender, president of the Lavender Design Group in San Antonio.

Paul Cardis, CEO of Avid Ratings, which conducts an annual survey of buyer preferences, identified these must-haves in new homes:

1. Large kitchens with islands
2. Energy efficiency, including energy-efficient appliances, super insulation, and high-efficiency windows.
3. Home offices
4. Main-floor master suite
5. Outdoor living space
6. Ceiling fans
7. Soaking tub in the master suite and/or an oversize shower with a seating area
8. Stone and brick exteriors rather than stucco or vinyl
9. Community walking paths and playgrounds
10. Two-car garages, but three-car garages are even more desirable

Source: MarketWatch, Steve Kerch (01/30/2010)

With winter upon us, how do you make your Bennington, Vermont home or business more attractive to buyers? A few simple tricks will keep your real estate on their short list:

Keep driveways and sidewalks clear of snow and ice. Be generous with the sand to avoid any slips, and pile snow away from the front of the house. Curb appeal still counts in the winter – make sure their view is nice!

Make the entrance an invitation to stay. Offer visitors a place to hang coats as well as take off snowy boots so they feel welcome to wander the house.

Turn up the thermostat. Even if you normally keep the temperature low, crank it up to a comfy level for real estate showings.

Soft background music can relax a visitor and make then feel at home.

Pick up unneeded items and stow extra sweaters or outdoor clothing.

Those often used skis and snowshoes? Either neatly display them – or closet them!

The U.S. Treasury Department announced new guidelines this week designed to make short sales go more smoothly.

 To qualify under these new guidelines:

• The property must be the home owner’s principal residence.
• The home owner must be delinquent on the mortgage or close to defaulting.
• The loan must have been made before Jan. 1, 2009, and be for less than $729,750.
• The borrowers’ total monthly mortgage payment must exceed 31 percent of their before-tax income.

Under the plan, borrowers will receive $1,500 from the government for selling homes for less than the amount of their mortgages.   Mortgage-servicing companies will get $1,000 for each completed short sale.

Second-mortgage holders can receive up to $3,000 of the sales proceeds in exchange for releasing their liens.

Investors who hold the first mortgage can collect up to $1,000 from the government for allowing the payments.

Borrowers who complete a short sale under the program must be “fully released” from future liability for the debt, according to the guidelines.

Source: Associated Press, J.W. Elphinstone (11/01/2009) and The Wall Street Journal, Ruth Simon (11/01/2009)

We have certainly seen a little up-tick in activity over the past few weeks in the Bennington VT real estate market.  This article from the National Association of Realtors gives a more macro view of the national real estate market.

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Driven by the home buyer tax credit, existing-home sales showed another big gain in October with a strong uptrend established over the past seven months, according to the NATIONAL ASSOCIATION OF REALTORS®. At the same time, inventories have continued to decline.

Existing-home sales—including single-family, townhomes, condominiums and co-ops—surged 10.1 percent to a seasonally adjusted annual rate of 6.10 million units in October from a downwardly revised pace of 5.54 million in September, and are 23.5 percent above the 4.94 million-unit level in October 2008. Sales activity is at the highest pace since February 2007 when it hit 6.55 million.

Tax Credit Fuels Surge (more…)

Getting your home in shape does not have to cost a fortune.

• Cleaning supplies – a clean home attracts buyers!
• Candles – create ambience in nooks and corners.
• Kitchen towels – toss those ragged oldies and add bright colors to the stove and sink.
• Hinge oil – loosen up those squeaky doors!
• Storage totes – corral the clutter and stack in a storage area.
• Towel bars and hooks – hanging towels instead of stacking will add spaciousness to a small bathroom.
• Welcome mat – offer a happy greeting to your new buyer!

Bennington VT, Selling

For any number of reasons, more people than ever are downsizing these days. Whether it’s reduction in income, reduction in family size, or just a desire for easier living, smaller homes are becoming more attractive.

There are challenges associated with downsizing, but experience has taught some valuable lessons that you may find useful. Once you’ve decided to sell, start the moving process immediately. Your home will even show better once you’ve begun packing things away. As you decide what to keep, consider donating unwanted items or holding a yard sale.

Solicit family members for help, and see how many belongings might be passed along to family and friends. After all, they say that charity begins at home, right?

You can also “digitize” paper records with a scanner, saving them on your computer, or using an online storage service for an added layer of security. Just be sure electronic versions of certain records are legally acceptable.

If you’re still left with a lot of furniture and accessories, you should strongly consider including such items in the listing for your home. First-time buyers may be particularly attracted to such an offering, saving them time and money on furnishing their home, and expediting the entire transaction.

These tips may help you downsize, but of course, any move presents its challenges. Speak with an experienced professional today for more advice.

Bennington VT, Selling

You may be able to stay in your Bennington, Vermont home by taking action now.

1. Contact your lender. Explain the issues behind your late payments and let them know you are trying to rectify the problem. Your lender may be able to modify loan terms or help you come up with a plan for repayment.

2. Ask for help before depleting your savings. You may qualify for more options by having some resources still available.

3. Look for free counseling services. Many HUD-approved agencies can help those who are facing foreclosure and could suggest alternatives, or offer suggestions on qualifying for loan modifications.