Should I Sell My House Now?

Going in to Winter is not the most popular time to list your home FOR SALE, but it is not necessarily a bad time to list either, especially if everyone else is waiting until Spring.  Your house, in move in condition and priced correctly, probably will be SOLD before the crocus poke their heads out of the snow.

I know you’ve heard National News commentators say how lousy the real estate market is, and even our local paper printed some Associated Press (National News) that said the market is less than desirable.  But Real Estate is a LOCAL market and while the number of homes SOLD YTD is down slightly in Paducah, the listing price and sale price is up.  The really good news is that BUYERS are out there and if you have a good credit score and a dependable job you can get an excellent interest rate now and move up to the home you’ve been dreaming of.

Some areas and some price ranges are shy on inventory of good homes, so if your home falls into one of these categories, NOW is the time to SELL.  Call me or talk to a REALTOR® about how much competition there would be for your home if you put it on the market now.

As I said before, the rules of supply and demand play a significant role in the health of a local real estate market. No matter what is said about the housing market nationally, it's the local picture that tells the tale in terms of the possibility of selling your home at any given time.

Hope you all have a fabulous Thanksgiving!

Sincerely,

Karen Stone, REALTOR®
Residential & Commercial Sales
Century 21 Service

C: 270 366-4614
O: 270 442-2100

karen@c21service.com

http://paducahhomepage.blogspot.com/

The owner will pay closing costs on 56+ Houses in Paducah

Fall Saleabration

We have 56+ homes for sale now that the sellers are willing to pay some or all of the closing costs for the buyer if an accepted contract is received by 11-18-11

FREE

Buyers Sessions at Century 21 Service Realty, 3225 Coleman Road

Tuesday – October 25^th – 5:30 – 6:30 P.M.

Tuesday – November 1st – 5:30 – 6:30 P.M.

Tuesday – November 8th – 5:30 – 6:30 P.M.

Tuesday – November 15th – 5:30 – 6:30 P.M.

STOP BY TO SEE HOW TO BUY A HOUSE WITH LITTLE OR NO CLOSING COSTS!!!!!!!

OFFICE -- 270 442-2100

KAREN’S CELL – 366-4614

Free Marketing Seminar on Thursday 1:00 - 1:50

Marketing Seminar: Integrating Your Traditional & Social Media MarketingFREE to attend , sponsored by EntrePaducah

Thursday October 20, 2011
1:00-1:50 PM
Julian Carroll Convention Center
1 Executive Blvd.
(downtown) Paducah, KY  42001

This session is for you if:

• You want to market your business effectively using all available resources.
• You’re not sure what marketing approach works best for your business.
• You want to know the true differences in TV, Radio, Newspaper, Internet, and all forms of social media

I am going and hope to see you there if you think this information might help you with your business :0)
Call me, I'll save you a seat !!!!  366-4614

Get Prequalified, Better Yet, Preapproved

Every day people call me and want to see a house or houses they have seen that they like. I start with asking what they are looking for, 3 bedrooms, 2 baths is the most common answer and then I try to determine where they would like to live and any special features desired.

The next big question is how much do you plan to pay?  To this a variety of answers are given.  And then I ask the million dollar question, “Have you been prequalified or preapproved by a lender?”

Many say no.  The problem with that is that they probably also don’t know what their credit score is or how much they can really afford.  If you have a steady job and have been in it for at least two years, your credit score and amount of expendable income are the two key indicators for a lender. 

According to lenders, you should make all your monthly payments including your house and all other debt obligations using no more than 28% to 44% of your monthly income.  If the mortgage amount you're applying for, plus your monthly payments on credit card, car and student loan debts consumes more than 44% of your monthly income, you may not be able to qualify for a home loan.

Your credit score is the next big indicator. Today, the mortgage-qualifying FICO score cutoff falls somewhere between 580 and 660, depending on the lender. Even if your credit score is high enough to qualify, if you have any late mortgage payments, a short sale, a foreclosure or a bankruptcy in the last two years, loan qualifying could be difficult to impossible. Now if you have been able to say yes I meet these guidelines, or if you don’t know if you meet these guidelines, then it’s time to visit a lender.  The good news is that there are still 100% financing loans available and a FHA loan can be obtained with a 600 FICO score and 3.5% down.

When you visit the lender, it's best to do more than prequalify for a loan: You should ask for a preapproval for a specific loan amount. This means the lender has already indicated a willingness to approve your loan based on having checked your credit and evaluated your financial situation, rather than simply relied on your own statements. Preapproval isn't an all-out guarantee that the lender will actually fund the loan, but it's close.  The lender will make actual loan approval conditional on an appraisal of the property, a title report, and other conditions.

Call me or your favorite Realtor who can walk you through all the steps to home ownership.

Karen Stone, REALTOR®
Residential & Commercial Sales
Century 21 Service Realty
karen@c21service.com
http://paducahhomepage.blogspot.com/
C: 270 366-4614
O: 270 442-2100

Interest Rates

Interest Rates Still Falling
As interest rates on fixed-rate mortgage loans continue to decline into uncharted territory, you should ask yourself, is now the time to invest in real estate.  A lot of people are cautious because they are unsure about their jobs and future employment, but for those in a stable job situation, now is a great time to buy.

Rates on 30-year fixed-rate mortgage loans have dropped to 3.99 for those with the best credit ratings.  This rate is the lowest since 1971 according to Freddie Mac in their news release, Primary Mortgage Market Survey.  But even if you don’t have a spectacular credit score you can still qualify for a low interest loan compared to what we were paying 3 years ago and believe it or not there are still some 100% financing loans here, in Paducah, KY.

If you are ready to start looking, give me or your favorite REALTOR® a call! 
 

Karen Stone, REALTOR®
Residential & Commercial Sales
Century 21 Service

karen@c21service.com

C: 270 366-4614
O: 270 442-2100

Prepare Your Home for a Faster Sale

Everyone says it's a buyers market. That means that there are more houses available than buyers. In order to shorten the selling process you must ask yourself, How am I going to make my house stand out from the rest?

First Impressions Are Key
Stand in front of your home and ask yourself; Is my lawn and landscaping free of debris? Do the shrubs need trimming?  What about the front door and windows? Are there pots of dead plants sitting around? Do you have dog or kids toys lying around? If you answered yes, you know what to do!

Now, step inside your front door and take a deep breathe. What do you smell? Even the slightest animal or smoke odor will turn off most buyers, even if they have animals or smoke themselves. Spring cleaning as my mother called it, is required before you list your home. Replace mildewed shower curtains, scrub the tile or bath surround with a bleach based product, wash the baseboards and the windows. Clean out any burnt wood in the fireplace and replace it with new logs. Dust or wash all the light fixtures and fans. A clean home and yard is an extremely important first step.

Move In Ready
Most buyers today are looking for something that is move in ready. They don't want to remove old wallpaper and they prefer to not have to paint, so updating your paint colors is a consideration. If your interior walls still have 1980's paint colors, even if you are happy with them, they probably need to be changed to a tan or other neutral color.  People like fresh paint and it is the cheapest way to update your home.

Declutter
Decluttering is another important step to make your home move in ready.  I tell my clients, "If you are serious about selling and moving, then start packing."  Clean out your closets, pack off season clothes.  Pack  decorative items, leaving no more than three per table or mantle.  Bookcases should be dusted and organized.  If you have to dig to find things in your kitchen or bathroom cabinets, you have too much stuff in them.  Pack lotions, soaps, excess towels, polishes and other cleaning products that you do not use regularly. Pack cups, saucers and serving pieces if you can do without them for a few months. If you have a garage, clean it and designate a corner to store the items you have packed.

Light and Bright
Before someone comes to see your home.  Open the curtains or blinds and turn on all the lights.  Make sure all lighting fixtures have working bulbs, regardless if you use them or not.  A buyer may think the light kit on the fan does not work if the light is burned out.  Another reason to open the curtains and blinds is that doing so may reveal an area that requires cleaning.  Doors and door moldings should be inspected for dirt or paint touch ups.

Call a Realtor who can give you additional suggestions for making your time to sell as short as possible.  Check back for additional tips, or sign up to receive an e-mail notice when new items are published.  I sincerely hope this information will help you get your home sold quickly!

Karen Stone, REALTOR®
Residential & Commercial Sales
Century 21 Service

karen@c21service.com

C: 270 366-4614
O: 270 442-2100

Welcome to Karen's Paducah HOMEpage!!

Welcome to my new blog about all things Paducah and all home buying and selling topics!! Please check back often for updates as I get up and running!!