TOP TEN REASONS TO BE OPTIMISTIC ABOUT THE HOUSING MARKET

Friendly. Professional. Local.

Be sure to contact your favorite Comet Realty agent to achieve your real estate goals and contribute to an overall economic recovery: 

Mike Copeland, 805-441-9021

Therese Cron, 805-878-1684

Shannon Fitzpatrick, 805-801-5436

Keith Hoffmann, 805-801-6498

Kristin Lachemann, 805-801-4653

Erik Slayter, 805-476-3663

Tim Townley, 805-440-8735

Hayley Townley, 805-440-9194

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The Ripple Effect of Real Estate!

Friendly. Professional. Local.

Be sure to contact your favorite Comet Realty agent to achieve your real estate goals and contribute to the ripple effect: 

Mike Copeland, 805-441-9021

Therese Cron, 805-878-1684

Shannon Fitzpatrick, 805-801-5436

Keith Hoffmann, 805-801-6498

Kristin Lachemann, 805-801-4653

Erik Slayter, 805-476-3663

Tim Townley, 805-440-8735

Hayley Townley, 805-440-9194

GREEN TIP: Packing Materials

Styrofoam packing peanuts, bubble wrap, and foam are useful during a move, but not for the environment. 

To go green on your next move, try using old newspapers to wrap fragile items, and then recycle the paper when you unpack. Wrap pieces of furniture and art with blankets to ensure they do not get damaged during the move instead of packing them in foam. If you must use non-biodegradable packing materials, ask around to see if anyone has any from a past move to give you. 


Reusing is always better than buying new––for the environment AND your wallet.

Mortgage Rates Continue to Set New Record Lows!

Mortgage rates continue to set new record lows, leaving many home buyers and refinancers wondering how low rates can go and how to capture the best rates now.

Making sense of the story:

• Many economists are forecasting that mortgage rates will rise again later this year as the American economy gradually improves and as more global investors turn to the U.S. as a safe haven for money.
  
• The average rate on a 30-year fixed-rate mortgage averaged 3.66 percent the month of June. This is the lowest price since the long term mortgages began in the 1950's!
  The rate had averaged 3.9 percent three months earlier and 4.5 percent a year earlier.
  
• According to one economist, rates could possibly fall further, perhaps as much as a quarter of a percentage point, but it is more likely that they would start a “slow drift” upward.
  
• Those planning to refinance or buy a home in the next two or three months might want to consider locking in a mortgage rate now.
  
• Borrowers with rate locks, with a built-in deadline, often receive priority treatment from lenders, because the borrower is telling the lender that he or she is serious about closing soon.
  
• Lock-in costs and policies vary widely, and are based partly on the time frame the borrower wants covered. Most borrowers will need a 60- to 90-day lock.
  
• If interest rates continue to fall during the lock period, borrowers can ask the lender to rewrite the rate lock at an additional cost, or obtain a “float-down” provision in the original agreement.  A lock with a float-down agreement allows the borrower to change the rate, often only once, before closing on the mortgage. This option is generally more expensive than a standard lock.

Comet Realty works with MANY terrific lenders. If you are looking to refinance (or buy a new home), please contact us for a good referral - somebody local who will have your best interests in mind. 

805-546-9925, or INFO@CometRealty.com.

Information taken from NY Times

Reliable but not guaranteed

Advantages of Pre-approval

The housing market is warming up in many areas, with multiple offers becoming more commonplace. Buyers who want an advantage in the bidding process will need more than a mortgage prequalification – they will need a pre approval.

Making sense of the story

• The differences between mortgage prequalification and preapproval are significant. Prequalifying for a mortgage is based solely on what a borrower discloses to the loan officer or broker about his/her earnings, credit score, and total assets, including what is available for a down payment. By contrast, a preapproval requires a borrower to provide documentation of his/her income and assets.

• The lender typically pulls the borrower’s credit report and score, while the borrower gathers together almost everything else needed for the actual mortgage underwriting: W-2 wage statements; 1099s; recent pay stubs; bank statements; and statements from Individual Retirement Accounts and 401(k)s; and other assets that could show the borrower has the resources to buy and maintain a home.

• At one of the country’s largest mortgage lenders, Wells Fargo, the first quick review provided by an underwriter constitutes an agreement to lend.  Other lenders may treat preapprovals as more of an opinion on the person’s ability to borrow, not a guarantee to lend.

• With so many homes receiving multiple offers, a preapproval is more important in today’s marketplace. 

• The preapproval letter should include the amount a borrower is qualified to borrow, as well as the loan officer’s contact information.  Some letters may have an estimated monthly payment, but details about the loan time and interest rate are not included.

• Timing also is important.  Buyers should aim for obtaining a preapproval letter from a lender within 30 to 60 days of the expected purchase date.  That is because some letters expire in 90 days.

taken from an article in the New York Times June 2012

Comet Realty works closely with several top lenders in our area. If you don't have a favorite yet, let us help you choose an excellent one. Give us a call at 805-546-9925, or email INFO@CometRealty.com.

Six Must Haves for Mortgage Approval

Interest rates are hovering around historical lows, and low interest rates increase affordability, making it easier for buyers to qualify. Yet stories of buyers waiting months to gain loan approval and home purchase transactions not closing on time due to lender's strict underwriting are all too common.

Some buyers are turned down for illogical reasons. For instance, if you have investments -- even if they're performing well -- an underwriter might deny the mortgage because your portfolio doesn't fall into the underwriter's risk assessment model.

One couple was turned down because the husband had worked at his current job for less than a year -- even though he was making more money at the new job than he was before.

These buyers were well-qualified. The wife had worked several years for one employer and was able to qualify for the loan on her own. So, the transaction closed, although two months late. 

Generally, it's more difficult to qualify now than it was a year ago. Most conventional lenders require a 20-25 percent down payment. For the lowest interest rates, your credit scores need to be in the 700 range. You need to have verifiable income and cash reserves in addition to your down payment and closing costs.

You could run into underwriting problems if you're self-employed, as W-2 income is much easier to verify. Other hurdles are lapses in employment and owning a lot of property. Some lenders won't lend to buyers who have more than three or four residential properties.

If you're buying a new home before selling your current home, you'll need to have 30 percent equity in your current home. This needs to be verified by the lender's appraiser. Also, the lender will want to see a copy of the cashed check from the tenant for the first month's rent to verify rental income if needed to qualify.

HOUSE HUNTING TIP: As soon as you're serious about buying a home, find the best mortgage broker or loan agent you can to assist you. Don't make your selection based on interest rates alone. A good track record counts for a lot.

Closing the deal should be your primary goal. If you have to pay 0.25 percent more to assure your transaction closes on time and that you're not turned down at the last minute, it's worth it.

Be candid with your loan professional about anything in your financial picture that might impact loan qualification. A good loan agent or broker will be able to assess your financial situation and anticipate what you'll need to do to satisfy the underwriter.

Be aware that appraisal issues can impact your loan approval. For example, if a previous owner added square footage without a building permit, the additional square footage probably won't be included as livable square feet.

If the appraisal comes in for less than the purchase price, the lender might not lend you enough to close the deal. Include an appraisal contingency in your contract.

There are more jumbo financing options available now. Adjustable-rate mortgages that are fixed for 10 years and then revert to an adjustable have a starting rate about 0.25 percent less than a 30-year fixed jumbo. A five-year fixed starts about 0.5 percent to 0.75 percent lower, but is riskier.

THE CLOSING: Because of the risk factor, the lender may want you to have a large cash reserve. Your retirement account counts toward this.

Dian Hymer is a real estate broker with more than 30 years' experience and is a nationally syndicated real estate columnist and author.

Getting Ready to Buy a Home? Lender Do's & Don'ts

There are 4 things you should avoid doing prior to submitting a loan application, or during the loan process, according to Kevin Hauber of iMortgage. Any one of these things can greatly impact your ability to qualify for a mortgage loan, so it is critical to avoid doing any of these until AFTER your loan has closed escrow.

DO NOT PAY OFF BILLS
Your loan officer will advise you if it is necessary to pay off bills to help you qualify for a loan. They will also show you the best way to pay off bills to make sure we have the evidence we need to prove that the bills have been paid.

DO NOT CHANGE JOBS
Changing jobs before or during the loan process can create a real problem in qualifying you for a loan, particularly if the job is in a different line of work or at a lower rate of pay. During the loan process, it can also create time delays as the new job will need to be verified.

DO NOT MOVE YOUR MONEY
It is best to leave your money right where it is until your loan is closed. Moving your money toa new bank or even into a new account can wreak havoc with the verification process.

DO NOT MAKE MAJOR PURCHASES
Many borrowers make the mistake of buying a new car, some furniture, or making another major purchase without realizing the impact it can have on their ability to buy a home. A large monthly payment can affect the amount of home you qualify for and, during the loan process itself, actually make it extremely difficult to get your loan approved.

If you must do any of the things listed above (even if you've just been pre-qualified for a loan), contact your loan officer. They can help you by re-qualifying you if necessary and advise you of your options. By avoiding these four things, you can look forward to a successful loan closing.

For excellent service, contact:

Kevin Hauber
iMortgage
Direct Line 805-597-8844
Mobile 805-459-8844
Email Kevin.Hauber@imortgage.com

Hayley's Feng Shui Tip: FALL CLEANING TIPS!

Fall is in the air! Prepare for the change of season (even if you are in California!) with a few deep-cleaning tips for your home. A clean home is a happy home! Clean from ceiling to floors, starting with the most used rooms. Tackle this list over a few weeks if you get overwhelmed. I won't tell anybody! 

LIVING ROOM

• Dust fans, crown molding and air vents. Soak and wash glass light fixtures. 
• Walls and corners collect lots of dust (and dog hair, in my case!) Wipe down latex or oil painted walls with an All-Purpose Cleanser** (read the label!) and water. We recommend testing on an inconspicuous area first. Don’t forget the baseboards! 
• If you paid attention to the last Feng Shui Tip, you already cleaned your windows (:-) If you missed that one, there is still time! Wash the screens on a warmer day and allow to dry in the sun. Next are curtains and blinds.
• Vacuum furniture and upholstery. Make sure to clean underneath furniture as well. 
• Lastly, clean the floors, carpets, and rugs. If they are heavily soiled, it may be time to call a professional** or rent a cleaning machine. 

KITCHEN

• Clean under and behind the refrigerator, vacuuming the condenser coils. 
• Clean and organize kitchen cabinets. Plan on one cabinet a day to make the task less daunting.
• Take unwanted, unopened packaged foods to a local food shelter (or toss expired or questionable foods). 
• Clear the kitchen counters of all appliances not used in the last week. 
• Deep clean your oven with a mixture of 2:1 All Purpose** and Surface Scrub** and let sit for 15-20 minutes, then wipe down the insides and outsides of the oven and range.
• If you have drip pans under your burners, run them through the dishwasher, or consider replacing them. 

BATHROOM

• Clean out the medicine cabinet; be sure to discard expired prescriptions, over-the-counter medications and lotions. (Please do not dump prescriptions in the toilet!)
• Empty each drawer and cabinet so you can wipe down the interior. 
• Give your shower or tub a good scrub. My friend Becky discovered that it is much more fun using scrubbing bubbles if you are also drinking bubbly. 
• Launder or clean the shower curtain and liner.
• Scrub down the toilet, both inside and out - don’t forget the handle, seat, or base of toilet.
• Dust the outsides of vents and fans. 

BEDROOMS

• Launder all bedding, including bedskirts, mattress pads, sheets, pillows, blankets, duvets, and comforters. 
• Clean and organize drawers, shelves or nightstands. 
• Once the weather turns cooler, pack away summer clothes (for Californians - just move to the back of the closet!)
• Determine what your favorite clothes are, then donate the unwanted, clean, usable clothes to a charity thrift store (I personally like Mission Thrift on Broad Street). 

OUTSIDE

• After the leaves have fallen, empty the gutters, then rinse clean gutters with a special hose attachment. 
• Clean up your patio furniture. (Californians are lucky enough to not have to worry about storing our patio furniture!)
• Check the weather stripping and caulking around doors and windows to ensure your home is energy efficient. 

** This list is brought to you from my favorite GREEN cleaning product line: CALDREA. Find your favorite Caldrea scent (mine is Basil Blue Sage), and your entire home will smell amazing when you clean (rather than caustic). www.Caldrea.com, Fortini’s in SLO carries it, and every once in awhile, you can even find it at Ross or TJ Maxx (if I haven’t found and bought it first!) They have spectacular concentrated laundry detergent. Your sheets, towels, skin, nose, family and home will thank you! 

If you need to buy or sell a home, call or email Comet Realty: 805.546.9925, Info@CometRealty.com. 

If you need to clean your home, do it yourself! (refer to list above) 

TIP: Home Improvements That Pay Off

Dian Hymer is a nationally syndicated real estate columnist, and author.

The temptation is strong: Clean up the yard, declutter the house, and put it on the market without spending time and money sprucing the place up for sale. This is especially the case if you anticipate losing money on the sale.

Some real estate agents recommend you do little if anything to get your home ready for sale. This could work if you price the listing to look like a bargain. However, most buyers in today's market are nervous and picky. They aren't in a hurry and they want a house that's move-in ready.

An agent who is looking for a fast sale might steer his or her clients away from doing any fix-up work. It takes a lot of time and coordination, not to mention money, to get a home properly prepared for sale in today's market. Some agents don't want to take on the effort, or haven't the vision to see the home's potential. This could cost you on the sale.

One agent told his clients that they needn't do anything to get their house ready for sale. True, the house had inherent charm and good bones. But, the seller's furniture was much too big to show the rooms off to advantage. The dogs had damaged the hardwood floor and the beautiful garden was overgrown.

The house didn't sell until the sellers found another agent who recommended a laundry list of items to take care of before selling, including moving most of the seller's furniture out and having the house staged.

Unfortunately, market values declined between the first and second times the home was listed. Even though the house sold quickly with multiple offers the second time it was listed, it sold for less than it would have if it had showed well the first time it hit the market.

HOUSE HUNTING TIP: Choose an agent to work with who has experience helping sellers prepare their homes for the market. Ask an agent you're thinking about hiring for references. Call past sellers and ask them how effectively the agent helped them get their home sold and whether they made back the money they invested getting the home ready for sale.

A good agent should be able to supply you with a list of tradespeople who can help you paint, change outdated floor coverings and light fixtures, etc., at reasonable prices. And your agent ought to be able to provide access to the home for the people you select to help with the fix-up if you are out of town or at work.

Ideally, you should work with your agent who will help you prioritize the things that should be done to bring about a timely sale. For example, an outdated kitchen can usually be improved considerably by painting, changing light fixtures, refinishing or replacing a worn floor, and changing cabinet pulls.

It might make sense to change extremely old appliances and counters. However, it's not a good idea to gut the kitchen and completely remodel it for sale. You won't get that money back when you sell. The aim is to make cost-effective improvements that make your home appealing to the broadest number of buyers possible.

Painting is the least expensive improvement you can make that is likely to return more than you invest, provided you select the right colors. One seller repainted the exterior of his home before he selected a real estate agent. He painted it the same dowdy colors that adorned the house for decades. The first thing the buyers wanted to change was the exterior paint color.
THE CLOSING: For the best result, talk to a color consultant before you paint.


TIP: Contact Comet Realty's team of professionals. They have the local knowledge, expertise, feng shui certifications and staging experience to help you decide what to do to get YOUR house ready to put on the market. 


805.546.9925, Info@CometRealty.com

Top 10 Tax Tips for Sellers According to IRS

If you are thinking of selling, the first thing you should do is call Comet Realty to find out how they can market and sell your property! 

The second thing you should do is look at this list that the IRS has published for sellers. (http://www.irs.gov/newsroom/content/0,,id=104608,00.html.)

Here are the IRS's top 10 tax tips for home sellers (taken from their website August 2011):

1. In general, you are eligible to exclude the gain from income if you have owned and used your home as your main home for two years out of the five years prior to the date of its sale.


2. If you have a gain from the sale of your main home, you may be able to exclude up to $250,000 of the gain from your income ($500,000 on a joint return in most cases).


3. You are not eligible for the exclusion if you excluded the gain from the sale of another home during the two-year period prior to the sale of your home.


4. If you can exclude all of the gain, you do not need to report the sale on your tax return.


5. If you have a gain that cannot be excluded, it is taxable. You must report it on Form 1040, Schedule D, Capital Gains and Losses.


6. You cannot deduct a loss from the sale of your main home.


7. Worksheets are included in Publication 523, Selling Your Home, to help you figure the adjusted basis of the home you sold, the gain (or loss) on the sale, and the gain that you can exclude.


8. If you have more than one home, you can exclude a gain only from the sale of your main home. You must pay tax on the gain from selling any other home. If you have two homes and live in both of them, your main home is ordinarily the one you live in most of the time.


9. If you received the first-time homebuyer credit and within 36 months of the date of purchase, the property is no longer used as your principal residence, you are required to repay the credit. Repayment of the full credit is due with the income tax return for the year the home ceased to be your principal residence, using Form 5405, First-Time Homebuyer Credit and Repayment of the Credit. The full amount of the credit is reflected as additional tax on that year's tax return.


10. When you move, be sure to update your address with the IRS and the U.S. Postal Service to ensure you receive refunds or correspondence from the IRS. Use Form 8822, Change of Address, to notify the IRS of your address change.

And the hottest tip of them all: Call Comet Realty for a wonderful experience in selling or buying real estate on the Central Coast. All of our agents are standing by ready to assist you ... 805-546-9925. 

Four Ways On-line Real Estate Valuations FAIL

Tara-Nicholle Nelson is an author and the Consumer Ambassador and Educator for real estate listings search site Trulia.com.


Q: Knowing that I would be selling my home, I have been following price ranges for comparable properties to my home on a couple of major real estate websites. Now that I am ready to list, all the agents I've talked to say that the websites are so out of line that their recommendations are worthless. What a shock!

A: Real estate websites have transformed the whole experience consumers have of home buying or selling -- they have made public what used to be private and difficult to get to -- namely, listing and sales data about homes across the country.
Several of these sites offer nearby recent sales, with the promise that savvy sellers like yourself can simply go online, input your address and find out what specific homes in your neighborhood have sold for lately -- some even go so far as to take the leap from what those homes have sold for to placing an estimated value on your home.

These sites try hard to do a lot of the work for you -- surfacing the homes they see as comparable to yours.

However, these are, at bottom, computer programs.

So, what's involved is a computer taking the description of your home from the public records (which usually reside at the county recorder's office and in their databases) or from a recent listing (if your home has been sold in the past few years), in terms of the number of bedrooms, bathrooms and square feet, primarily, and pulling out the closest homes to yours that have sold recently that have similar data on record.

However, the computer can't necessarily distinguish nuances in a property's condition or aesthetics, nor does it always correct for whether the house two blocks over was a short sale or a foreclosure.

Depending on where you live, how similar homes are to each other in your area, the level of sales activity near your home and the level of accuracy found in the public records for your house and nearby homes, these sites can offer very comparable "comps" -- or comparables that aren't really comparable at all.

If you live in a fairly cookie-cutter subdivision where several homes just like yours have sold very recently, you're likely to get a good set of comparables, and a value estimate that's at least in the ballpark. But in many areas, lots of fairly common scenarios can come between you and a good set of automated comps:
• if your home is older and has had a lot of improvements and even additions that are not in the county records, you're likely to get bad comps;
• if homes in your area are very different from each other, you might get bad comps;
• if you live in a neighborhood very nearby another neighborhood where homes have a much higher or lower value than your area's (say, because they belong in a better school district or even on the other side of the city limits), you're prone to getting bad comps;
• if your home is in an area where homes are dense, the algorithm might jump over many very nearby properties to get to a relatively dissimilar one even a half-mile away, and that can give you bad comps.

The listings provided by the sites can be very useful for homeowners trying to stay on top of what homes around theirs are selling for -- not listed for, but actually selling for. They are less useful, in my opinion, at placing values on properties; the sites that do this usually have their accuracy rates listed somewhere on the site, and I haven't yet seen one that's impressive.

But when it's time to actually list your home, or figure out what it is worth, no computer -- no algorithm -- is as accurate as a living, breathing local real estate professional who sees and sells all the different specimens of homes in your neighborhood and sees firsthand what ready, willing, qualified buyers actually pay for them, day in and day out.

I think it's important for sellers interviewing listing agents to discuss the online comparables with prospective listing agents, but not as a counterargument to what the listing agents recommend you list your home at.
Rather, it's a smart way to see what the agents know -- and what you can learn -- about the other properties in your area.

If you are considering selling your home, or just want to see what your home would be worth in today's market, please call one of Comet Realty's professionals at 805.546.9925. 

Hayley's Feng Shui Tip: LUCKY DIRECTIONS

FIND YOUR LUCKY FENG SHUI DIRECTION


This is the direction for you to sit FACING when you are making decisions, negotiating contracts, working on important projects, etc. 


Begin by finding your KUA number: 


FEMALES: 

• Add together the last two digits of the year you were born. 
• If the result is 10 or more, add the two digits together to reduce them to a single digit.
• Add 5.
• If this result is 10 or more, add them together again to reduce to a single number. 
• If your answer is 5, use number 8.

MALES:

• Add together the last two digits of the year you were born. 
• If the result is 10 or more, add the two digits together to reduce them to a single digit.
• Subtract from 10.
• If your answer is 5, use the number 2. 

FOR BEST LUCK

Find your personal feng shui direction number on the corresponding guide above. These are your personal directions. 

Sit with your chest facing energies 1-4
Sleep with your head facing energies 1-4
Avoid sitting/sleeping in energies 5-8

1. Prosperity. Success. Vitality.
2. Health. Healing Energy. Good Fortune.
3. Longevity. Good Relations. Harmony.
4. Comfort. Stability. Peace.
5. Difficulties. Frustrations. Quarrels.
6. Bad Luck. Property/Income Loss.
7. Poor Health. Accidents. Litigations.
8. Disasters. Chronic Illness. Bankruptcy.

PLEASE NOTE: In Feng Shui, there are no wrong or right ways. There are inexpensive cures to remedy a situation that could use improvement. If you have found that your desk or bed faces the wrong direction, email us for some ideas on how to better enhance your personal direction. 


EXAMPLE: My own desk faces one of my negative energies, but I have found an inexpensive cure (under $5!) to "fix it". 

Is this the time to invest in Real Estate?

The secret to investing is to buy low and sell high!  There I've given you all the #1 tip in Real Estate investing!  The tricky part is finding out exactly when low is the lowest, and when high is the highest.  It is easy to see when the bottom is a couple of years after we have hit it--but that like all hind sight it does not help us right now.


What does help us is watching trends, and reviewing historical data.  Real Estate has been a cyclical market in the past, and most likely will be in the future.  The latest news from "the experts" is that we will be hitting the bottom sometime in 2011, with stable prices through 2015.  


The chart below gives you some idea of what "the experts" expect for the next 5 years.  

 

So according to this, it looks like it is time to break the piggy bank, and invest in some new property!  Give us a shout and lets find your property while it is sliding along the bottom!

Hayley's FENG SHUI TIP: Eyes of the Home

WINDOWS ARE THE EYES OF THE HOME

We were out showing houses last summer and not only was I not quite prepared for this place, but my client wasn’t either! The windows were so filthy, you literally could not see through them. The only reason you can see through the one on the left is because the pane was missing!!! 

In feng shui, the windows are called “the eyes of the home”. They are related to your ability to see clearly in life. Keeping your windows clean and clear is a must. 

Nobody likes cleaning windows (okay, I admit it, I sorta like it, but that doesn’t mean I am going to clean yours). I have found the best tool for the job is newspaper! Simply spray your favorite window cleaner onto the windows, then crumple up the funny pages, use some elbow grease and you will be rewarded with clean, clear, streak free windows. If the windows are large, I also like to use a squeegee. 

What are you waiting for? Get out there and clean those windows. Chances are, you will see the world in a different light! 

Hayley's FENG SHUI TIP: Clutter in the Kitchen

I am STILL working on clutter around my house. For some reason, just when I think I have it under control, it looks as if a bomb went off in my house. Does this happen to you too? 

My friend Sara Caputo, the completely organized owner of Radiant Organizing out of Santa Barbara. has a most excellent blog (http://www.radiantorganizing.com/blog/). Twice a week she posts something incredibly useful. She said that the reason we have clutter is that we have poor decision making skills. I agree completely! I do have poor decision making skills. I save things to deal with “later”. This results in putting things somewhere “for now”. Does this sound like you also? 

This month my poor decision making skills are going to be applied to my kitchen. Please join me! A clean, food-filled kitchen is the center of family life and a symbol of health and prosperity. Here are some key things you can do: 

Clean out your refrigerator and freezer. Toss anything ancient, mysterious, or "iffy," and refill or replace anything that's less than half-full (such as condiment bottles and jars). Defrost the freezer and get the inside of the fridge sparkling clean.

Clean off the outside of the refrigerator, too. If your fridge is covered with magnets, photos, take-out menus and grocery lists, clear them all off to create a clean slate. Put back only what is necessary (toss the expired coupons, already!)

De-clutter your pantry shelves, and use or toss anything that's been in there for months. Wipe down the shelves and clean the cabinet doors.

Clean your oven and stovetop, and replace burner pan liners if they're no longer shiny and new-looking. You can find these at various hardware or grocery stores. For the most part, they are universal - just remember if yours are square or round. Easy, right?! 

Replace worn and/or grubby oven mitts and dish towels with new ones. I just ordered some fabulous ones from Pampered Chef. 

Get out a broom and thoroughly sweep the kitchen, and then from the kitchen out the nearest door. This symbolically sweeps out the old energy and any lingering not-so-good luck, to make room for better luck to come in. Make sure your broom is hidden away in a closet out of sight. This will ensure that all the new luck (especially money luck!) that comes into your home stays in the home and is not swept back out.

Now you will feel better about being in the kitchen, and cooking for your family. 

Next month, who knows where our little clutter-busting adventure will take us. Does anybody have any particular rooms they would like to concentrate on? Email me at Hayley@CometRealty.com. 

First impressions are lasting!

by Dian Hymer

Imagine walking into an important job interview looking like you just dragged yourself out of bed. You'd be unlikely to make a good impression and diminish your chance of securing the job. 

The same goes for selling a home. First impressions are lasting. Some buyers won't even look at the inside of a listing that doesn't have good curb appeal.

Today's buyers are picky. There is no sense of urgency in the market, so buyers are holding out for the best home they can find that will work for them for years to come. In some areas, there are a lot of homes for sale. It's important to make sure that buyers will be attracted to your home before they even walk through the front door.

Fortunately, exterior improvements needn't be expensive. The recent Remodeling Cost vs. Value Report 2010-2011 found that the improvements that yielded the highest return on the investment when sold were a new steel front door and a new garage door. 

The average cost nationally for a new front door was $1,218; the return was 102 percent. The average cost for a new garage door was $1,191; the return was 83.9 percent. The top nine of 10 most cost-effective improvements nationally were for exterior projects. Curb appeal is as important as ever, and may be more so in this market.

The Remodeling Cost vs. Value Report is a collaborative report done annually by Remodeling Magazine and the NATIONAL ASSOCIATION OF REALTORS®. It compares construction costs with resale values, which are based on estimates from more than 3,000 REALTORS® and appraisers. 

Sprucing up the front yard for sale needn't be costly. Clean out weeds and dead plants. Add flowering plants for color and mulch to tidy up areas that aren't heavily planted. Replace a lawn that has seen better days with less lawn and a border bed of flowering shrubs. 

Do in-ground planting well in advance, if possible, so that plants have a chance to get established before your home goes on the market. If you have no choice and must plant at last minute, be sure to remove the ID tags from the nursery.

A deteriorated fence should be removed, repaired or replaced. Any peeling paint on the front walk and steps and house exterior and trim should be refreshed. The side of the house that gets the most exposure needs the most maintenance. If you've let it go, you'll be docked dollars by the buyers unless you repaint where needed before you sell.

HOUSE HUNTING TIP: The amount returned on home improvement investments varies from one location to the next. It's important to consult with your local real estate agent before you embark on an upgrade to make sure that you don't overpay on an improvement that won't generate the desired result.
Most homeowners assume they'll get their money back and more when they sell. In fact, most upgrade investments often don't return 100 percent of the amount invested, particularly in a down market.

A minor mid-range kitchen remodel returns 72.8 percent nationally, according to the 2010-11 Remodeling Cost vs. Value Index. In the Pacific region of the U.S., you're likely to recoup 84.1 percent.

However, a major upscale kitchen remodel pays back only 59.7 percent nationally and 66 percent in the Pacific region. It makes sense to take on a major remodel project only if you're staying in your home and can enjoy the use of the improvements before selling.

A deck addition ranked high on the list of popular exterior improvements. Although, nationally the cost recouped is only 72.8 percent, it may be an essential enhancement if your home has no outdoor living space and all the homes for sale in your neighborhood do.

THE CLOSING: Supply and demand in your local area will also impact how much you'll recoup from your fix-up investments. 


Give Comet Realty a shout today to find out how to improve the value of YOUR home! 805.546.9925