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It’s Now Cheaper to Own, than Rent

Nov29
2011
Leave a Comment Written by Dan

With interest rates hovering around the 4% mark on a 30-year fixed mortgage, owning a home has become cheaper than renting in 12 metropolitan areas, including Miami, Orlando, Atlanta, and Chicago.

The Wall Street Journal states, “Home prices and mortgage rates have fallen so far that the monthly cost of owning a home is more affordable than at any point in the past 15 years and is less expensive than renting in a growing number of cities.”

Inventories of existing homes have begun to drop. Miami alone saw a 50% drop in their available inventory. South Florida has become a focal point for Northerners who are looking for a warmer climate, or Canadian property investors looking for homes to rent season to season.

Other areas where renting is becoming more expensive than home ownership include Jacksonville, Phoenix, Tampa and Las Vegas. All these areas are primed to see an increase in property sales and real estate values.

Although finding a buyer may not be as simple as it was five years ago, the recent figures show that people are looking for properties. The more properties sell, the higher property values will go. Listing a property now may gain you a buyer quicker than you think.

Posted in Market News, Press - Tagged chicago, florida, jacksonville, miami, rent or own, rent vs own, tampa
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Display with Simple Elegance!

Aug09
2011
Leave a Comment Written by mary.w

Do you have a small alcove in your kitchen that is not deep enough for extra cabinets or large enough to accommodate even a small table? Always wanted a china cabinet to display your loveliest dishes?  Try a bakers rack (like this one from the Container Store).  Showcase your dishes, platters, pitchers, cookie jars….all the pieces of your set and then, if you choose, use the hooks to add the shimmer of your stainless or copper pans as a highlight.

You can sometimes find items like this that will fit perfectly within the area you’re trying to fill and create a beautiful display to be both admired and functional while keeping your cost to a minimum.

Posted in Decorating on a Budget, General Information, Home Improvement, Selling Tips, Tips and Ideas
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Simple Solution to Storage Problem

Aug07
2011
Leave a Comment Written by mary.w

Ever wish you had more room to put your cleaning supplies, extra bags, etc? Look no further than the back of your linen closet or laundry closet door.  Purchase an inexpensive over the door plastic shoe bag and start filling it up. Not only does everything stay neater, they are more easily accessible when you need them and can be completely hidden away by simply closing the door.  Storage doesn’t have to be expensive, free standing or shelving units.  Be creative and re-purpose items to fit your needs.

Posted in Decorating on a Budget, General Information, Tips and Ideas
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A Big Look at a Little Cost!

Aug05
2011
Leave a Comment Written by mary.w

Redoing your kitchen but can’t afford the expensive (and highly desirable) 42 inch custom cabinets?  Go to your local Home Depot or Lowe’s big box store and purchase their in stock cabinets (available in multiple shades of oak and maple or white).  Stack 12 inch cabinets ontop of 30 inch cabinets. Not only do you have to desired look of 42 inch cabinets, they actually can be much more functional as separate cabinets.

Add the matching crown molding or put above cabinet artifacts to create a more expensive appearance while paying a much reduced price for an amazing look!

Posted in Decorating on a Budget, General Information, Selling Tips, Tips and Ideas
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Maximize Your Photography

Aug02
2011
Leave a Comment Written by mary.w

When you’re deciding on the best way to showcase your property to prospective buyers, keep in mind that the internet is very visual and people have highly visual expectations. Before they read a word of your description, most buyers will peruse your photos to see, firstly, if they are even remotely interested in your property. If the photos entice them to learn more, then they have done their job and you are a step closer to someone becoming seriously interested in your home.

The purpose of your advertising, like any other advertising of a product in the marketplace, is to give potential buyers the reasons to choose your home over others also available. Therefore, the quality and content of your photography is very important. There are ways that you can maximize both.  First, show as many photos as possible. Internet shoppers want to see as much as they can ahead of time. They shop the internet for convenience and ease of process.  If you state that you have 4 bedrooms but only show one, you are leaving the reason why you didn’t show the others up to their determination, such as: “wow the other bedrooms must be really small” or ” the other bedrooms must not be very nice” otherwise why wouldn’t they show them.  Neither might be true but that doesn’t matter.  If your buyer lives across the country or on the other side of the world, (yes, your BuyOwner.com exposure offers buyers access to your home 24/7 from anywhere in the world!) they are less likely to ‘stop on by’ to see about the other rooms.  They will go on to another home that does show them what they want to see.

Regarding the quality of your photos, minimize eye distractions.  The fancy towels might look great on your oven door but in a photo they distract the eye from looking at the room and instead bring their  attention directly to the towel.  You might love all the photos on your fireplace mantel BUT what you want to showcase is the fireplace & mantel since that’s what they are buying with your home. Remove other eye distractions such as remote controllers, pens, paper, newspapers, mail, keys, phone cords (or any cords), dishes in the sink or on the counter, etc.

A simple way to prepare for your photography is to stand at the entrance to the room being photographed. Look out of the room and then look in.  If your attention is drawn to something instead of the room, that’s what needs to come out for the photograph.  That might mean pulling out some furniture so that you are able to show more floor space.

The eye judges the room by the amount of floor space they can see. Let them

see a lot of floor.  If you have hardwood floors, make sure the window treatments are open and the sunlight is pouring across the wood. Beautiful!

Remember, photos create your home’s first impression to your prospective buyers. And the never fail thing about first impressions is they only happen once! Maximize your photography and by doing so, you will maximize your home selling opportunities!

Posted in General Information, Selling Tips, Tips and Ideas
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New Features to Expand Your Marketing Campaign

Jul27
2011
Leave a Comment Written by Dan

You Asked. We Listened.

As you may know, BuyOwner.com has gone through some major corporate changes. With the birth of the “New” BuyOwner.com, we have taken a new approach to helping you sell your home. We know that times are tough and we are devoted to helping you achieve your goal … to sell your home and save a costly commission. Over the past few months we have been contacted by sellers asking for some additional features to be added. We listened.

Rental Options : Yes. You can now indicate that your property is also available for rent, right on your listing. The potential buyer or renter, will see the monthly price you are offering your property for. And guess what, if you rent your property, you can place your listing on hold, and when you are ready to sell again, your property can be reactivated for no additional cost. It’s a win-win situation. Remember, our guarantee is that your property is listed until it is sold, that includes if you decide to rent it now, and sell later.

Buyer’s Agents : We know you want to save as much money as possible on the sale of your home. We also know that there are buyer’s agents that specialize in helping buyers find homes. Sellers have asked if we can let buyer’s agents know they can contact them, so we’ve made it easy for you to do. You can now indicate on your property listing that Buyer’s Agents are welcome to contact you. This does not mean you agree to any financial terms or agreements. You are still in control. If the agent finds you a buyer, you get to negotiate with the agent what you are willing to offer for compensation. Selecting this option does not create any kind of contractual agreement between you and the agent. You are still in control.

These two new features are just a small part of what is in store for the future of the “New” BuyOwner.com. We are currently developing new tools and services to help you market and sell your home. The “New” BuyOwner.com is dedicated to providing you the tools you need to sell your home. After all …

“No one knows your home better than you.”sm

Posted in New Features, Selling Tips - Tagged buyer's agents, buyowner.com, byowner, features, rental, rental property, rentals
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The Effective Walk Through

Jul13
2011
Leave a Comment Written by mary.w

There is no need to fear walking your buyers through your home. You know your home better than anyone else, especially if you had your home built.  The following guideline will help you conduct the most effective tour of your home for your prospective buyer.

1) Take a walk through on your own prior to ever showing your home. Instead of thinking of your home like the seller you are, imagine that you are walking through for the very first time as a buyer.  Take notes of what you love as well as what you don’t.

2) Determine the best path to take with the buyer.  Since we read left to right, we look to the left then right then left again before we cross the street and we write left to right, the obvious choice is to move to the left first and then follow your natural floor plan. This will not always be the case depending on your home’s design BUT most homes do flow in this direction.  Example of a typical floor plan: Start in the foyer. Move left into the formal living room, then the formal dining room or dining area. The kitchen is traditionally adjacent to the dining room so the kitchen would be next which then often opens to the family room. There is often a hall then leading back to the foyer which may open to the main floor laundry and a powder room. Now back in the foyer, head up the stairs . Even if your master is at the end of the hall, lead them there first. This is the most important bedroom and the reality is, if they fall in love with the master, they really don’t care where the kids sleep (as long as the room will fit a bed!).  Showcase all the master’s best features especially the private bath and walk in closet if applicable.  (The key to walk in closets: make sure they can walk in….pick up stuff off the floor…your space only appears as large as the amount of floor that can be seen!) Continue the tour into the other bedrooms and hall bath. Then back downstairs and on to the basement (whether finished or unfinished, the buyer wants to see it so again, straighten up, wash the floor, organize and make it look spacious and usable). Last move out to the yard and garage. Note: if you have an amazing outdoor living space and it is off the kitchen or family room, show it when in that area. Always end up back in your kitchen so you can sit down at the table and chat or grab a cookie or cup of coffee that you have prepared before they arrived.

3) Create a sheet with room sizes that you can hand to the buyer before you walk through so they get a good sense of the spaces when on the tour. Most people do not really have a good sense of room sizes unless they are actually standing in the room. Reality: A 10 x 10 room may be more furniture friendly than a 12 x 12 room based on the entry door, closets and window placement and height.  Do not focus so much on actual room sizes but rather create the space to show off how well it can be used.

4) As you walk through, share with the buyer what will stay and what you might be replacing (lighting, window treatments, etc.).  It is not uncommon nowadays for people to be willing to include or sell their furniture with the home. If this is the case, let them know which items apply.

5) As you tour room by room, share any and all upgrades or improvements that you have recently made or made when you purchased the home. (ie: crown molding, new trim, fresh paint, new windows, new electrical and circuit board, etc.)

6) Share what you have loved about the location and the amenities that are offered. (close to transportation, walking distance to schools and parks, nearby shopping, etc)

7) Ask if they have any questions and if so, be specific with your answers as possible.

8) Be Friendly.  Be Forthcoming.  Be honest.

Remember everyone will not fall in love with your home and that’s ok. You only need one buyer. Get yourself maximum exposure and an amazing support structure through BuyOwner.com. Then follow these tips and others offered on this blog when showing your home and you will be soon the one saying “Thanks Buy Owner!”

Posted in Uncategorized
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Is Your Home A Target For Burglars?

Jun21
2011
Leave a Comment Written by mary.w

Do you feel safe in your home? Most people do. In fact, to most people, their home is the place they feel the safest. Perhaps then, you would be surprised to learn that over 2 million homes are burlarized each year.  That’s one burglary every 15 seconds.

So what can you do to make sure your home is the safe haven you believe it to be? Follow these few simple steps:

#1  Turn on your burglar alarm even if you are only running out for a few moments. It only takes a burglar a blink of an eye to get in and get out with what they want.

#2  Lock the door leading from your attached garage into your home.  Many homeowners leave it unlocked assuming that since the garage door is closed there is no problem.  I discovered quite by accident that my garage door opener actually opened some of my neighbor’s garage doors as well. Yikes!  Also, sometimes you click your control to close the door and drive away without actually waiting to see if the door closed. With the electronic eyes now on these devices to insure that the door does not close on a child or pet, the door may have opened back up without you even realizing it, leaving your home completely vulnerable.  Make sure and lock all the rest of your exterior doors as well. It would be nice to think that we are still living in a Leave it to Beaver world, but sadly it’s not true. The one time you don’t lock your doors and windows could be exactly the time you wish you had

#3  If you have a security alarm system, display a generic sign that a system exists instead of telling the burglars exactly what system you have (which then gives them all the information he needs to disable the alarm). Believe it or not, the burglar can actually buy a diagram of how that particular system is wired.

#4  The bedroom is the first place burglars will look for easy to grab valuables.  Keep cash or jewelry you only wear on special occasions in a safe-deposit box at your bank.  Hide other items in places where burglars are less likely to look such as above ceiling tiles, in your garage, in your freezer or pantry. You can actually buy fake soup cans that are designed exactly for this purpose.  Also, hide your valuables in various places so that even if they get something, they won’t get everything.

#5  A small yappy dog is a much stronger deterrent than big dogs that tend to stop barking much quicker and easier than smaller breeds such as chihuahuas or yorkies. They may not look menacing but most burglars will move past a home that has a loud, constant, usually high pitched and attention grabbing yapping dog.

#6  Make sure that your windows are not hidden by your landscaping trees and bushes.  It just gives the burglar a chance to open your windows without being seen.  Keep all your shrubs trimmed to below your window level.  And make sure your ground level windows are closed and locked when you leave.

#7  Put your inside and outdoor lights on timers. Vary the times in different areas of your interior so that there appears to be activity.  Though burglars of course know about timers, they will most likely move on to a home that is totally dark or totally lit.  Motion detector lights are fairly inexpensive and can surprise the intruder and cause him to move on.

#8  If you are going out of town for a while do not stop your mail or newspaper delivery.  Have a neighbor or close friend pick them up while you’re gone and if at all possible have them do so at various times throughout the day so that cars are coming and going again causing a burglar who may be watching homes in your neighborhood to skip yours.

#9  Wait until you return from your out of town trip to post the information on your Facebook or Twitter account.  You never know who you might be telling that you are very excited about your upcoming 7 day cruise that you will be leaving for on Friday.  You might as well just put a sign out front that says, “Rob me”.

#10  Along the same lines, if you put a wedding announcement in the paper, do not put in your city.  While you are off enjoying your special day, someone else may be enjoying it as well by stealing all of your wedding gifts nicely displayed in your home all in one place.

The fact is you do not have to be a victim.  Use simple common sense, follow these guidelines and minimize your chances of burglars choosing your home as their next target.

 

Posted in Uncategorized
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Updates That Only Look Expensive!

Jun16
2011
Leave a Comment Written by mary.w

Need to update your home’s appearance but have minimal funds available to do so?  Not a problem! Check out the following ideas.

* Can’t afford to paint the whole room? Give the walls a good wipe down with a damp cloth getting off fingerprints and dust. Then paint the trim a crisp bright semi-gloss white. This will pop your existing wall colors and offer a fresh, clean appearance. This is just as effective on your home’s exterior!

* Wash you windows, inside and out. Plus wash the screens and the window bases as these both hold on to a lot of dust and dirt that has been blown in during rainstorms or windy days.

* Thoroughly wash the area around your front entry and if necessary, refresh the trim and doors with paint. Then add a decorative wreath, floral spray, door knocker, or whatever fits your decor to the front door.

* Clean your window treatments.  Many drapery panels and sheers are machine washable. Put them through the gentle cycle and then hang while damp so they don’t shrink. If you have fabric blinds or shades, carefully dust on a regular basis so as not to let the edges get trimmed with dust.  Make sure and clean valances and rods as well.  Note: If your treatments are outdated or have frayed edges, replace them! There are many very inexpensive yet attractive options at stores such as Target, Walmart, JC Penney, Sears, Kmart, etc. that even boast designer names at generic prices.

* Need to refresh your cabinets?  Remove grease with a soft cloth dampened with a mixture of warm water and Dawn dishwashing liquid.  This will break down the grease. Then wipe with a clean dry cloth.  Next use an old time favorite, Murphy’s oil to give them a fresh sheen.

* Cabinets clean but inhibited by old hardware?  Maybe you have a lot of hardware to replace which creates a cost issue or you love the original hardware but not its worn out appearance. Either way, head to the hardware or big box store and buy a can of Rustoleum (or similar brand) spray paint. You can choose to create an unfinished, painted, metallic or hammered finish in a multitude of colors or  looks (bronze, oiled bronze, antique, etc).  Follow the directions for prepping and then spray them all, let them dry and then re-install. Fabulous!!

* Live in a historic or century old home with big heating registers that look like they haven’t been updated since the house was built?  Use the same painting method described above to update and refresh them while maintaining the home’s true character.

* Change your faucets.  The big box stores have a multitude of choices that look expensive yet are very affordable. This is also a project you can do yourself further reducing your cost. If you like your faucet, try adding a glass tile back splash.

* Have an old stained or scratched sink but can’t afford to replace it? You can buy paint specifically for painting sinks and tubs.  It is important to follow the directions and protect your tile or walls while doing so BUT the payoff is huge while the cost is minimal.

Posted in General Information, Home Improvement, Tips and Ideas
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Hardwood, Engineered & Laminate Flooring

Jun15
2011
Leave a Comment Written by mary.w

Love the look of hardwood floors but not sure if you want to spend the money for solid wood? The alternatives of engineered wood and laminate flooring confusing you? Let’s take a look at the similarities and the differences.

Solid wood flooring is exactly like it sounds, planks of solid wood through and through. This is the most expensive of the three options and offers several choices. The type of wood can play a major role in your cost. Brazilian cherry, at the higher end of the spectrum, is often found in more upscale homes or as a border or inlay with other wood choices. Oak, the most common is very durable and looks as rich in natural tones as it does in the darkest stain. Maple, though a hardwood, is a bit softer than oak and great for standing on for extended periods of time which is why you find this in the kitchens of many century old homes. This is also currently very popular with its minimized grain and lighter appearance. Bamboo is very popular due to its environmentally friendly properties, light and airy appearance and more affordable cost.  All costs will be further affected by the thickness of the planks and whether you lay it straight or at an angle, which requires more cuts.

Engineered flooring starts with a man-made core, commonly plywood, then is topped with a thin layer (about 1/8″ thick) of real wood.  Adding to the convenience is the fact that it does come pre-finished which means that it is ready to use as soon as it’s installed. Another advantage is that the real wood layer is thick enough to allow it to be sanded and refinished once or possibly even twice before needing to be replaced. Though more expensive than the laminate alternative, this choice offers the appearance of real wood (because the top layer is real wood) while costing less than solid wood options.

Laminate flooring also begins with a man-made core but is covered by paper imprinted with a photographic image of a wood plank. This photo makes the floor look very realistic. A finish layer on top protects the image and adds to the durability of the floor. The downside of this choice is that laminate is not real wood and so cannot be refinished. Once it is worn it must be replaced. On the other hand, it is far less expensive than real wood and available in styles that replicate the look of almost any type of wood, including rare and exotic species.

When deciding which option to choose, consider the look you’re desiring, the durability you need and how much you want to spend. That way once you have completed the project you can sit back and enjoy the view!

Posted in Buying Tips, General Information, Home Improvement, Selling Tips, Tips and Ideas
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Welcome to the BuyOwner.com Blog, your source for regularly updated market information!

Founded in 1984, BuyOwner.com® is the leading provider of real estate marketing services. We pioneered the "For Sale by Owner" (FSBO) market, which today represents over 20 percent of all residential real estate transactions.

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