Ways To Get More Money From Your Home

The freefall in home prices may be over, but the buyers' market persists–there's stiff competition to get a house sold for a good price. In a competitive market sellers need to make every effort for their properties to appear more attractive so they sell for more.

Believe it or not, it's the simple touches–not the big renovations–that often matter the most. HomeGain surveyed 1,000 real estate agents last year to determine which home repairs offer the biggest rewards. After ranking for return on investment, the survey found that cleaning and de-cluttering–including removing personal possessions, polishing woodwork and glass and removing excess furniture–is the most important. Spending $100 to $200 tidying up can increase a home price by $1,500 to $2,000.

Certain renovations can also add value, but they don't have to be major overhauls. One simple suggestion would be to install a new front door. It's an inexpensive exterior improvement. Also consider replacing worn-out siding. New fiber-cement siding will generate the best return on investment, but vinyl siding will work for those with smaller budgets.

Pre-sale home inspections have gained traction in the down real estate market because sellers are trying anything and everything to outdo one another. With a heavy supply of houses on the resale market, a pre-sale inspection can provide extra assurance that there won't be any surprises after signing the sale contract.

Sellers needing to move quickly should remain focused on the basics, neutral paint jobs and replacing or cleaning carpets. That could be the difference between a signed contract and the for-sale sign remaining on the lawn.

Were Your Loan Documents Forged?

It is estimated that there are more than 9 million people who are in foreclosure today with the numbers of foreclosures increasing by the day. There is a silver lining for some of them. Documents pertaining to some home loans were not correct and in some instances were even forged. In such circumstances these homeowners have a chance of getting their foreclosures waived.

Only those who have an in-depth knowledge about property laws and loan regulations will be able to figure out who might qualify. The loan papers are thoroughly examined by these professionals and checked for any discrepancy. There are certain laws pertaining to mortgages that must be adhered to. It is a violation of law if an omission or error is made by the agents of the lender or the lender themselves. It is here where the experts take over.

After checking the loan audits, they note any violations in the loan documents. They use the same to initiate litigation with the lender in question. In such situations the lender will be held accountable for laws and/or loan documents that may have been fudged. On completion of the audit and identification of the loan violations, the organization will help you through US legal advisors to find an attorney who can assist you to follow up the case with any requisite legal action required against the lender.

If you think your loan may have been forged in any way, it might be time to take action and save yourself from the impending threat of foreclosure. Before your lender terminates you of your rights through foreclosure and takes over your property, you should file a case against them if you suspect fraud in any way, and it can be verified.

Ways to Save on Home Remodeling

Here are some simple tips to help you save money when remodelng your home.

Have any other interesting ways to save money on home remodeling costs? Share them with our readers by leaving us a comment below. We'd love to hear your ideas.

Buying Houses in Foreclosure

Buying a house in foreclosure can be the deal of a lifetime or a risky proposition. Potential home buyers are attracted by homes advertised as foreclosures available at rock-bottom prices. These 'would-be-homebuyers' hope to win the lowest bid and purchase a home, sometimes having never seen or inspected the home. This is really no place for an inexperienced foreclosure buyer. Hiring a real estate agent for guidance and assistance may be a smart move.

Where to Find Houses in Foreclosure

As real estate agents, we have access to a detailed list of foreclosures in the area and have a handle on the condition of the property and any potential problems. Check with major banks and lenders who maintain a website of bank-owned properties. Local asset management companies handle a lot of foreclosures and have helpful information. HUD, Fannie Mae, Department of the Treasury, and the Small Business Association all have helpful websites.

Consider Carefully

As with most things which seem too good to be true, there are pros and cons in buying a foreclosed property. The upside is there are some really great bargains out there. But not every foreclosed house is a great bargain. Some houses are diamonds in the rough and just need a bit of attention, while others may appear as a real bargain on the surface, but may be hiding unforeseen problems. Without an inspection, it's hard to tell what these problems might be.

Legal Considerations

Is someone still living on the property? Be aware that sometimes there are people actually still living in a foreclosed property. These folks can be the previous owners, relatives or friends of the previous owners, or even squatters. If this is the case, then eviction may be the only remedy. Sometimes evicted tenants may even retaliate, so it's probably best to get the help of an attorney and have him handle this.

Condition of Foreclosed Houses

Most foreclosed homes are sold "as is" so there is absolutely no guarantee of the condition of the property. Because the occupants may still be living in the house, an inspection may not be possible. When folks realize their home has been foreclosed, they could let the property fall into disrepair, sell the appliances for cash, smash out walls and fixtures, or even destroy the house.

Buying Houses in Foreclosure Can be Difficult

Buying a foreclosed property is not recommended for first time home buyers. There are a lot of seminars and so-called gurus out there who want folks to believe buying houses in foreclosure is easy. In reality, the process has many pitfalls and potential problems, especially for those new to the process. Great deals and a lot of money can be made from buying houses in foreclosure, but there may also be potential problems. It helps to know the territory before going in and get the right people to help.

If you have questions about buying a foreclosed property that we haven't covered here, please use the 'comment' link below to ask your questions.

Real Estate News - March 2010

Our March 2010 Newsletter is now online…

http://homebuyersblog.net/our-newsletters/2010/march-2010/