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(ARA) - According to the National Association of Realtors, the continuation of a soft market is predicted for existing home sales in the coming months. This comes as bad news for people who are considering selling their homes in the near future.

Gone are the days when potential buyers would fight over every listing that comes on the market, driving up prices in the process. Now homes may linger on the market for months, fetching far lower prices. The national median home price for existing single-family homes was $206,200 in the fourth quarter of 2007, down 5.8 percent from just a year prior. Because buying a new home typically requires first selling your current home, many people who want to “move up” to a bigger or nicer home are choosing to stay in their current homes and upgrade them rather than put them on the market.

Home improvements offer many benefits: they not only make your home more comfortable, but can also be a prudent investment. Popular projects include: kitchen remodels, bathroom additions, deck additions, siding and window replacement - all improvements that, in addition to making a home more livable, may actually increase the value of a home.

But with the economy being as tough as it is lately, where will people find the money to pay for their improvements? A popular option is to tap into the equity in the very house you’re planning to fix up. “When it comes to funding home improvement projects, consumers with equity in their homes have multiple options, such as taking out a home-equity loan, setting up a home-equity line of credit or refinancing an existing mortgage,” says Stephen Semprevivo, president of LowerMyBills.com, a free online service that can help consumers compare low rates on monthly bills and reduce the cost of living.

Here is a quick guide to financing choices:
Home-equity loan: With a home-equity loan you take out one lump some of money based on the equity you already have in your home. The amount you borrow and the interest rate are fixed at the start of the loan. These loans typically last from 5 to 15 years.

Home-equity line of credit (HELOC): Like a credit card, a home-equity line of credit functions as an open line of credit, only it is borrowed against your house like a second mortgage. The benefits of using a home-equity line of credit instead of a credit card are that the interest rate for a home-equity line of credit is almost always lower than that of a credit card and the interest you pay is usually tax deductible.

Cash-out refinance: A cash-out refinance allows you to refinance your mortgage for more than you currently owe, leaving cash on the table that you can put toward your home improvements. Unlike a home-equity line of credit or home-equity loan, a cash-out refinance does not require taking on the additional burden of a second loan.

Don’t want to take the gamble of borrowing against your house? Don’t despair. “Homeowners that don’t have a lot of equity in their homes, or don’t want to tap into that equity, may find that simply refinancing their homes can help offset home improvement costs,” says Semprevivo.

Interest rates are near record lows. If you bought your home a few years ago you may well be able to refinance at a lower rate. That lower rate can yield substantial savings that can go a long way in paying off your home improvement bills.

Want to find out which option offers the best scenario for you? There are benefits and drawbacks to any home loan so it’s a good idea to discuss your options with a trusted financial professional. Once you’ve decided on the right move for you, Web sites like www.LowerMyBills.com can connect you with lenders who will compete for your business by offering competitive rates and terms.

Whether you go with a home-equity loan, a home-equity line of credit or a refinance, your interest payments will likely be tax deductible, and no matter which financing option you choose, upgrading your home can add value and comfort. Better get started right away though so you can enjoy those improvements in time for summer.

To shop for competitive home loan quotes visit www.LowerMyBills.com.

Courtesy of ARAcontent

If you’ve ever thought about owning a home now may be the time to take action. Lower interest rates combined with a large inventory of homes in most markets across the U.S. may translate into a good opportunity for buyers in negotiating terms with a seller.

The buying process may seem daunting to some one that has never purchased a home before. But, through home buying education seminars offered in your community, and with the assistance of an experienced loan officer, a first-time home buyer can obtain a better understanding of their financial options, leading to a more positive home buying experience.
“Whether you’ve been dreaming of owning a home for years or you’ve just decided it would be a smart financial move to make, your first home buying experience will be a memorable one,” says Jim Ferriter, executive vice president for GMAC Mortgage. “It’s important to learn about your financing options in order to find the mortgage that’s right for you.”

Ferriter offers the following tips for first-time home buyers:

1. Educate yourself about the mortgage process – BY taking the initiative and learning about the mortgage process, you can be more confident in the financial decisions you are making. It’s important different types of mortgages, how much can you afford, how your credit impacts your interest rate, and the benefits of home owner ship. A mortgage tutorial is available at http://smartedgebygmac.com, which breaks down the home buying process into easy-to- understand steps

2. Save just a little more – It’s not only important to save money for the down payment and closing cost but it’s important to factor in some of the other costs home ownership such as decorating, repairs, and maintenance. Many mortgage lenders recommend that first-time home buyers have at least three to six months of additional savings in their possession in anticipation of these additional expenses.

3. Check your credit – An individual’s credit score will have a significant impact on his or her mortgage loan approval and interest rate. A good first step in refinancing a home purchase is to check your credit history. Carefully review your report and contact the credit bureau to correct any inaccuracies.

4. Shop around for a mortgage - As you start thinking and preparing for the home buying process, start shopping for the mortgage lender from whom you would like to obtain a mortgage for your new home. Because this process is new, it’s easy to go with the first lender or loan officer you meet. Instead, take your time and shop around. Start by asking friends, co-workers and family members for recommendations. When you’ve identified two or three loan officers, ask for references. In addition to pricing (interest rate and closing costs). focus on other services as well as other services and tools that a mortgage lender may be able to offer you.

5. Get pre- approved – Before you start working with real estate agent, consider contacting a mortgage lender to obtain a pre-approval credit decision. A loan officer will review your financial status including your income, cash flow and credit score, to help you determine the maximum monthly housing payment for which you may be able to qualify, and, if qualified, “pre-approve” your mortgage before you’ve found a home. Armed with a credit pre-approval, you can start searching for homes with a much better idea of your price range, and in turn save time as you know the right homes to focus on. Obtaining a pre-approval may offer more confidence and certainly to home sellers in your ability to purchase the home.

6. Don’t be afraid to ask questions – Once you’ve found your new home the mortgage lender will help you through the process. From application to closing, your loan officer will work through the financing process with you, just as your real-estate professional should do in the home buying process. Throughout the process, read all loan documents carefully, and involve an attorney, if necessary.

7. Inspect - Before you commit to purchasing a home, don’t forget to hire a licensed home inspector to conduct thorough assessment of the property. An inspector can alert you to any major problems with the home, and/or help you understand the potential short-term and long term home maintenance issues.

ARA) - As the brilliant sights and sounds of spring once again emerge, those of us who have endured yet another long, cold winter can hardly contain our excitement and anticipation of warmer months ahead. In our enthusiasm, many of us instinctively turn our attention to sprucing up the inside of our homes.
If you’re planning on completing a spring redecorating project, consider drawing your inspiration from the vast array of bold and breathtaking colors spring provides. “Each season is associated with various signature colors,” says Peggy Van Allen, Pratt & Lambert Paints’ color marketing and lead specialist. “If you’re considering refreshing the look of a room and want to draw on the great outdoors for inspiration, spring offers the most expansive and versatile color palettes to choose from. It’s an ideal time to incorporate the season’s colors into the decor of any room.”
Van Allen goes on to say that a simple and effective way to incorporate color is to paint one transitional wall, as opposed to the entire room. By doing this, you can pair your seasonal decor items — such as throw pillows and area rugs — with the newly painted accent wall. This adds a dramatic change to your room in a minimal amount of time.

This spring, to help you successfully bring the outdoors inside, Pratt & Lambert Paints offers the following color-inspiration tips:
Flower Power
During spring new life is sprouting up all around us, especially in flowerbeds. When redecorating, consider looking at the colors popping up in your own backyard. Daffodils are some of the first flowers to bloom –use them as inspiration and paint your walls a bright yellow such as Ale (Pratt & Lambert Paint color 12-9). If you prefer more muted tones, choose a paler shade of yellow such as Naples Cream (Color 10-4) to subtly open up a space.
The Grass is Always Greener
In addition to the beautiful colors generated by perennials, spring’s green foliage and vegetation can also be incorporated inside and used as a calming interior backdrop. Whether you want to use a bold, emerald paint color, or prefer to make a more subdued impression with a medium-green hue like New Glarus (Color 21-20), painting your walls with a shade of green will ensure your interior space projects a clean, fresh feeling.

Perfect Pastels shades are synonymous

Natural Beauty
Integrating color schemes from nature into your decor doesn’t necessarily mean the inside of your home needs to look identical to your outdoor landscaping. Bringing the outdoors inside can also be accomplished by using more natural, earth tone colors found in nature. Your home can easily be turned into a calming sanctuary by drawing color inspirations from the likes of bamboo and cork, then pairing them with bright red accents. Use Wild Cherry (Color 4-19), Sepia Brown (Color 7-19) and Tarragon (Color 8-24) to turn your home into a natural, springtime haven.
Beyond the Sea
Imagine the cool, spring air blowing off the lake or ocean. Now, translate that emotion into your décor. It may be easier than you think. To turn a room into a relaxing, seaside retreat consider using deep shades of blue like Swedish Blue (Color 26-15) or Captivating (Color 24-14). Accenting it with a cool, neutral color, like Sesame (Color 12-29), as a backdrop can further enhance the room’s soothing atmosphere.
These soft shades are synonymous with spring. Lighter shades of pink, blue, yellow and green can be found throughout springtime decorations. To make a lasting impression try carrying those colors over into your decor by using a mint shade, like Mistletoe Kiss (Color 20-26). Or, use a delicate shade of pink like Blush (Color 31-3) to transform any room in your home into a cheery and welcoming space.
With so many paint color options available, and so much color inspiration to draw from, it’s never been easier to bring your home’s interior back to life after a long winter. And, by following these helpful color tips, you can further ensure you’ll have an attractive, inviting home that’s freshened up for spring and all the seasons to come.
For more information on how to choose the perfect color, visit www.PrattAndLambert.com or call (800) 289-7728.
Courtesy of ARAcontent

There’s another hot new trend in green homebuilding and remodeling. Advances in technology, coupled with rising energy prices, are resulting in growing interest in solar water-heating systems when green-minded consumers build or remodel homes.

“Five years ago, when oil prices hovered around $20 a barrel and the price at the pump was just above $1 a gallon, energy costs barely registered among Americans’ top concerns,” says Josh Plaisted, president of Kineo Design Group, a Berkley, Calif.-based engineering and consulting company that specializes in product design and development in the solar industry.

“Today, you will find high energy costs among the top five concerns of consumers,” he says. “Whether it’s natural gas, electricity or gasoline prices, energy weighs heavily on their minds, and they are clamoring for solutions.”

According to Plaisted, consumers can have the greatest impact on their energy costs by reconsidering how they heat their water. The average household spends about 25 percent of its home energy costs on heating water, he says, noting that solar water-heating offers homeowners not only a solution to rising energy costs, but also environmental benefits.

Solar water-heating was named one of the top 10 technologies for 2007 by Housing and Urban Development’s Partnership for Advancing Technology in Housing (PATH) Program.

The U.S. Department of Energy, in its EERE Consumer’s Guide, says that, “On average, if you install a solar water-heater, your water-heating bills should drop 50 to 80 percent. Also, because the sun is free, you’re protected from future fuel shortages and price hikes.”

VELUX America, the leading manufacturer of skylights in the United States, is introducing a solar hot water heating system here utilizing technology developed by the parent company in Denmark and proven through years of service in Europe.

Tim Miller, president of VELUX America, says that every solar water-heating system installed in America will help to reduce the nation’s reliance on fossil fuels while reducing greenhouse gas emissions. He points out that solar water-heating is another opportunity for individual homeowners to support the green movement while realizing benefits now and for years to come.

The cost of an installed system will vary depending upon the volume of heated water required in a home. Two to three rooftop solar collector panels will usually be installed and solar hot water holding tanks are available in 80 and 120-gallon sizes. An average installation is projected to cost around $7,500.

Federal tax credits can help pay 30 percent — up to $2,000 — for a system and some states and utilities offer additional support, resulting in credits that could offset up to half the cost. This, combined with savings on home energy bills, should result in an anticipated payback period of three to seven years in most areas depending on geographic location, utility rates and other factors.

The solar energy roof collectors look very much like low profile skylights and integrate well with rooflines. The collectors are certified by independent testing agencies in Europe (Solar Keymark) and in the United States (SRCC).

“Solar thermal water heating is not new to the United States - this country was the world leader in the industry following the energy crisis of the early 1980s,” says Jim Cika, manager, solar products, for VELUX. “However, in the mid to late 1980s, as the cost of energy suddenly sank to record lows, American consumers were once again enjoying cheap oil, federal and state tax subsidizes for solar water heaters were eliminated in the U.S., and the demand for solar systems came abruptly to an end.”

As the American market for solar water heating products was collapsing, Germany, Austria and other European countries continued to focus on product innovation, Cika says.

“European countries saw what was happening in the United States in the 1980s, took the technology and continued innovating,” he says, noting that the U.S. Department of Energy reports that 82 percent of all greenhouse gas emitted by human activity is energy-related carbon dioxide. “They made solar water heaters more energy efficient and more cost efficient. Twenty years later, Europe is a global leader in solar water heating technology, and now this technology is returning to the United States.”

For more information on the benefits of solar water heating, call (800) 283-2831 or visit veluxusa.com/solar.

Courtesy of ARAcontent

As spring home buying season begins, financing options remain available for borrowers who do not have the traditional 20 percent down payment.

“Even with home prices declining in many areas, many families still find it difficult to accumulate a 20 percent down payment,” says Suzanne Hutchinson, executive vice president of the Mortgage Insurance Companies of America. “Low down payment insured loans are a key financial tool in the overall effort to keep the dream of homeownership alive in a volatile market.”

Although the real estate market is tumultuous, there are still safe, predictable and responsible financing options for buying a home. “Most are better off because the risky, exotic loans have largely disappeared from the market, and also fortunate because more secure loans with tax-deductible private and government mortgage insurance are still available for qualified borrowers,” says Bruce Hahn, president and CEO of the American Homeowners Grassroots Alliance.

And Congress is helping many buyers with a federal income tax deduction for mortgage insurance premiums on home purchases or refinancing starting in 2007. This is the first-ever tax deduction for government and private mortgage insurance.

The tax deduction was first approved by Congress in late 2006 and applied to loans with mortgage insurance that closed in 2007. In an important move to further assist borrowers, Congress voted in December of last year to extend the mortgage insurance tax deduction through 2010 as part of the Mortgage Forgiveness Debt Relief Act of 2007.

The deduction allows households with an adjusted gross income of $100,000 or less to deduct the full cost of their government or private mortgage insurance premiums on their federal tax returns. Families with incomes between $100,000 and $109,000 are eligible for a reduced deduction. On average, the tax break could be worth $350 per taxpayer.

Approval of the tax deduction by Congress — and extending it through 2010 — was strongly supported by a number of consumer, civic, African American and Hispanic groups.

“Making the cost of mortgage insurance tax deductible helps those who need it most: low- and moderate-income Americans, primarily first-time home buyers, who are financially responsible but simply don’t have the means to amass a 20 percent down payment,” Hutchinson says.

Buying a home is usually the biggest financial decision for any family. With riskier mortgage financing options, such as interest-only loans and piggyback mortgages, quickly fading from the marketplace, low down payment loans with mortgage insurance remain readily available for qualified borrowers.

An added benefit is that private mortgage insurance can be canceled when the home owner builds up sufficient equity in the home, with nine in 10 borrowers canceling private mortgage insurance within 60 months.

For more information on tax deduction and home loans with low down payments visit www.privatemi.com.

Courtesy of ARA content

Tackling these basic, inexpensive improvements will help your home stand out from the crowd in a difficult market.
By Marilyn Lewis, MSN Real Estate
When you put a home up for sale these days, you’re facing stiff competition. In most parts of the country, buyers are faced with huge numbers of homes for sale. Before asking strangers to trade hundreds of thousands of their hard-earned dollars for your little palace, make all the little repairs you’ve always meant to do but never had the time for.
These 10 basic repairs will help prepare your house for a buyer’s white-glove inspection:
1. Repair sagging screen doors and other entry red flags.
The entrance to your home is the key to first impressions. Carolyn Brake, a home-staging expert in Aurora, Colo., near Denver, prepares about 10 to 12 homes a week for market and she stresses the importance of creating a great impression right off the bat. “We’re not so much selling the house as we’re selling the experience of living in this house,” Brake says. Buyers will be alert to signs of neglect or deferred maintenance, since they want to avoid expensive hidden problems down the road.
Make sure everything at the entrance is in working order. If the screen door is sagging, you’ll probably have to install a new one, as aging aluminum parts often become too bent or broken to repair, says Charlie Hudson, a remodeling professional and owner of Hudson Remodeling, in Lynden, Wash. But first, try replacing any missing or corroded hinge screws and tightening the rest.
Patrol the perimeter of your home, inspecting it with the critical eye of a stranger, advises Katherine Carroll, agent with Century 21 Mountain Lifestyles in Weaverville, N.C. Clear dead plants from flower beds, clip dead blossoms and stems, rake and haul the yard waste far away.
A fresh coast of paint on the front door goes miles toward establishing a great first impression. What color? Drive around for some inspiration and to see what colors prevail in your community. In some towns, a bright red door, or a deep plum, looks great. In others, it’ll seem over the top. Forest green, navy blue and black can be great door colors. The front door need not match the exterior colors of your house and trim, only look good alongside them.
2. Spiff up the roof. Missing shingles and hanging gutters broadcast a loud, scary signal to potential buyers. “You want the house to look as presentable and non-problematic as possible,” says Cathy Cowan, an agent with Windermere Real Estate Co. in Seattle. “There’s a great deal of fear when people go out to look at property. You want them to be able to focus on ‘Where does my bed go?’ and ‘Can we live here?’ rather than, ‘Oh my God, there’s a problem with the roof.’”
Get a roofer to replace any missing or broken shingles or roofing tiles. Moss growing on the roof signals neglect, so it’s important to get it cleaned off. Ask a roofing expert to remove moss or to recommend someone who can. Roofing professionals may suggest treating the surface of your roof with a chemical to kill moss or they may recommend installing zinc strips on the roof ridge. Water running over the zinc washes minute amounts of zinc carbonate over the roof, killing algae and moss, according to Z-Stop, which manufactures the strips. When hiring someone to work on your roof, it’s crucial to check their recommendations. Amateurs can damage your roof with the careless use of a high-pressure power washer.
3. Clear and caulk gutters.
On a dry day, climb up on a ladder and clear all the debris out of the gutters so water can flow freely. While you’re up there, recaulk the gutter end caps, advises Hudson. Seamless gutters are finished at the ends with a cap that’s crimped and caulked. Aging caulk allows leaks to drain water down your home’s siding.
Get started by drying the clean gutter; the drier the aluminum, the better caulk will bond to its surface, says Hudson. He recommends using flexible butyl caulk made for outdoor conditions. Its color doesn’t matter, since you’re caulking inside the gutter. Squeeze out a generous amount and use your finger to smear the stuff around inside the gutter cap seams. Don’t worry about appearances, since no one will see your work.
4. Patch nail holes and repaint.
Moving inside the house, you’ll want to patch up nail holes in the walls. Ask at a hardware store for lightweight putty. Apply it with a putty knife and fill in each hole, scraping the excess off the wall. Following directions on the package, wait for it to dry. Then sand the putty until it’s smooth and flush with the wall. Paint the repaired spots with primer. Call a handyman for anything bigger than a nail hole, as it’s not easy to blend bigger repairs into the wall and obvious patches telegraph the message, “I’m hiding something,” says Hudson. Repaint the entire wall — you’re unlikely to be able to hide a touched-up patch, otherwise — from one corner to the next.
5. Divorce your smoker and ship kitty to Siberia.
All right, just kidding. Sort of. The thing is, smells are a serious deal killer. When strangers enter a home, the first thing they notice is the smell. Don’t even try hiding behind scented candles, potpourri and plug-in room fragrances. Buyers, ever suspicious to problems, catch a whiff of those and conclude that you’re hiding something.
In the kitchen and bathrooms, deep clean with bleach, then regrout tiles and recaulk cracks between sinks, tubs, toilets, counters and floors to seal out the moisture that encourages the growth of smelly mold, mildew and bacteria.
If you’ve had smokers in the house, you’ve got extra work to do. To rid walls of smoke and nicotine film, some experts suggest washing the walls with cleaners using an alkaline builder, such as ammonia, and a glycol solvent (found at paint stores). Brake recommends painting an undercoat of Kilz primer onto clean, dry walls to seal in nicotine smells. Finish the job with a fresh coat of paint and change the furnace filter to further freshen the air in the house.
Then, “send smokers down the street,” says Brake. She’s not kidding: Ban smoking, even in the garden, because the smell clings to porches, decks and clothing. Gardens lose their appeal when littered with cigarette butts. If possible, board your cat off-premises while you’re showing your home; at minimum, clean the litter box daily.
6. Replace damaged vinyl flooring.
Inspect the vinyl flooring in your bathrooms. If it has discolored spots or is loose, moisture may be damaging the floor. You’ll probably want a professional to lay the actual flooring, which could cost $400 or more. But you can save as much as half of the cost by preparing the floor yourself.
Remove the baseboards by pulling them away from the walls with a small pry bar. Next, pull up the flooring using a larger pry bar — it will be glued and nailed or stapled. Also remove the next layer, called the underlayment, made of particleboard or layered plywood.
While your new floor is being installed, you can sand and repaint the baseboards so the whole job will look terrific when it’s finished. Another good choice for flooring material is linoleum, a green product made from linseed oil, pine resin, sawdust and other natural binders. It can add 30% or 40% to the cost of a $400 job.
7. Reseal the toilet.
Not all flooring installers will remove and reinstall the toilet, something that must be done to replace the floor. Pulling the toilet yourself can save you money. With plumbers’ fees running about $85 an hour (with a minimum hour and a half charge for a house call), you could save yourself $200 or more (for two trips) by pulling the toilet yourself.
Even if you aren’t replacing flooring, the seals may need replacing. How to tell? If the toilet rocks when someone sits down, or if the floor at the base is moist or discolored, the seal could be broken. Corroded nuts that hold the toilet to the floor are another sign that the toilet needs to be reinstalled. Before you begin, shut off the water supply at the faucet behind the toilet. Flush the toilet, holding down the handle to drain as much water as possible. Use a wrench to unscrew the bolts holding the toilet to the floor.
Don’t move the toilet alone. Get a friend to help, because toilets are heavy and cumbersome, and the tanks are easily cracked. Prepare a bed of old cushions or towels in the bathtub and set the toilet there gently so any drips drain into the tub. At a hardware store, find two wax toilet seals (also called gaskets, about $3 apiece). One seal is conformed to fit into the sewer pipe; the second is a plain wax circle that you’ll stack directly on top of the first. (Also at the store, purchase two new bolts — about $1.50 each.) Back home, remove the old gaskets. Fit the new shaped gasket into the mouth of the sewer pipe first; put the second seal directly over it so the toilet fits into the space with no gaps. Lower the toilet over the seals. Screw in the new bolts, tighten them, reconnect the water supply and caulk the base of the toilet.
8. Stop faucet drips.
A dripping faucet calls attention to itself, and it’s not hard to fix. Shut off the water supply to the faucets by turning the valves under the sink to the right. Then, test the faucet to make sure you’ve shut the water off completely. While you’re looking under the sink, check for moisture on the wall around the valves and on the floor of the sink cabinet. Also check the supply lines leading to the dishwasher and disposal. If those areas are wet, get a plumber.
If you’ve got a newer, rotating, single-arm faucet (through which both hot and cold water run), note the brand and purchase a faucet rebuild kit (roughly $50) at the hardware store. Inside the faucet arm is a metal ball on a stem that lets the handle swivel while allowing water to flow in any direction. The kit contains the six to 12 parts most likely to fail, including that metal ball, O rings, springs and gaskets. The idea is to replace them all rather than trying to diagnose the exact source of the problem. Dismantle the faucet, laying the parts out in order on a paper towel. Snap a photo or draw a sketch to help you with reassembly. Replace the old parts, put the faucet back together and turn the water back on.
For older faucets with independent hot and cold water faucets, shut off the water under the sink as before then dismantle each of the sink’s faucets separately. Remove the washers (rings made of rubber, plastic or brass), put them in a plastic sandwich bag and bring them to the hardware store to find replacements. Reassemble the faucets and turn the water back on.
If this seems like more trouble than you’re willing to tackle, call a plumber. With no complications, a plumber can install the new parts in an hour, though most will bill you for an hour and a half minimum.
9. Renew dinged baseboards.
Beat-up baseboards detract greatly from the appearance of your home, and they’re easy to spiff up. “All those little things tend to stand out,” says Carroll. First, clean them to remove scrapes and smudges left by clawing pets and toddlers on wheels. Brake says a Mr. Clean Magic Eraser sponge works great on painted surfaces. Fill in dents with spackle, sand the baseboards smooth and repaint them. If you’ve lost the name of the original paint color, chip off a coin-sized bit, slip it into an envelope and bring it to the paint store where you can have the color computer matched.
Use primer before painting. Don’t just retouch small areas; paint the entire piece of baseboard, from one end to the other. Choose a washable eggshell finish. White is a great choice for making baseboards and trim look crisp and clean.
10. Repair cabinet scratches.
You can quickly improve the look of unpainted woodwork and worn cabinets with an application of products that even out the surface color. Brake covers scratches on woodwork and cabinets with Old English Scratch Cover or a Tibet Almond Stick, a tight roll of cotton saturated in chemicals that the manufacturer, Zenith Chemical Works, says is a 100-year-old family formula. (You can find these at hardware and home-improvement stores.)
The almond stick goes on clear but covers scratches. “It’s amazing,” Brake says. Zenith owner Kim MacInnes says the almond stick works best with shallow surface scratches on dark finishes. It doesn’t work in every case, he says, and even a good result may fade with time and need to be reapplied periodically.
Old English makes separate formulations for light or dark wood. These are oily stains, so use them carefully. Try out any products first in a corner where results will not be noticed. Do not use the dark stain on light wood. Finally, polish wood cabinets to a glow with lemon oil.

It has been said that the only constant is change. This is so true, and the way that we are able to remain successful I is learning to adapt to our ever changing environment as quickly as possible.
The real estate market obviously is not what it was two or three years ago. One of the problems we face is not the current market but our memories of what the past market used to be. We are accustomed to looking back over our shoulder and using the past as a comparison for the future. This is causing many people in our industry to become immobilized by not focusing on a solution to the current market.
Is there a solution to our current market? The answer is “yes’” and it lies within each one of us. I am not saying that we have control over outside factors, because in large part we don’t. What we do have control over is how we perceive the obstacles that lie ahead of u: “Only in the face of adversity will you find the seed to a greater achievement.”
We can all help each other with this in many ways, but as a REALTOR in this market you must first ask yourself the question: Am I willing to do what it takes?
Without sounding harsh, it is important for all of us to assess where we are personally, because that will help us to determine where we want to go and how we can get there. If you don’t know where you are or where you want to go, how can you begin anything? Self assessment is critical. To think and act outside of the box is essential. The way we used to transact business will not be sufficient to get us where we want to go. This means that we all must get out if our comfort zone and expand our way of thinking. Brainstorming with other REALTORS and our clients sometimes yields the best ideas on how to move a piece of property.
I love to get with a group of three or four colleagues at least once a week to brainstorm problem listings, clients, lender situations, marketing ideas. Etc. This not only helps us motivate each other, but something very special takes place when you focus energies on a particular transaction. I have always said to the people I work with that the idea may be silly, but it is the effort and focus on the project that creates synergy and results. As long as it remains positive and productive, a momentum begins that can result in moving mountains.
One aspect of real estate in which I have recently become very involved with is trades. Currently, I have 22 trade transactions pending. Some of them are personal transactions and some are client transactions. There seems to be a growing curiosity about how this works and how it can benefit you as a REALTOR. Some of the common questions I hear: (1) Do I get a commission? (2) If so, how is it paid? (3) Where do I begin trying to put a trade deal together? (4) How does it even work?
These are good questions. Yes, you get a commission if you have the seller agree to it in writing prior to bringing the two parties together. A trade is simply helping one person get out of property that no longer works for them and getting them onto one that better suits their needs at the time. Keep in mind everyone is in a different position with their property. For example, why would someone want to buy a beach property that my client really needs to sell? There are several people who have been waiting to purchase beach property but have not been to do so because their current property has not sold. They would love to take advantage of some of the deals out there, but in order to do so they need the cash from what they own. Their basis may be so low in what they own that the very investment property your client needs to sell that’s causing a negative cash flow may cause a positive one for the new buyer. Too many times we assume everyone is in the same equity position.
You begin working on trades by marketing what you or your clients are willing to look at as an option. It doesn’t mean they have to do one. It simply opens up another avenue for you to pursue. Basically, a trade is simply an agreement that your seller will purchase what their buyer is selling and it will be a simultaneous closing, each contingent on the other’s closing. The proceeds will be shifted from one asset to another and can often generate a cash position for your seller/buyer.
There are great benefits in these transactions. Just the activity on this creative selling helps consumers’ confidence and shows people that real estate is still moving at a good pace. We all know activity breeds activity. We need to keep the energy up, keep the ball in play, and keep moving in a positive direction.
We can learn a lot from one another and together keep the real estate market on a positive plane. We are in this business for a reason. Let’s keep out clients matched with the properties they can benefit from in the long run, and stay focused on a productive and prosperous future.
By Jason Naumann

If you’ve ever thought about owning a home, now may be the time to take action. Lower interest rates combined with a large inventory of homes in most markets across the U.S. may translate into a good opportunity for buyers in negotiating the terms of a sale with a seller.

The home buying process may seem daunting to someone who has never purchased a home before. But, through home buying educational seminars offered in your community, and with the assistance of an experienced loan officer, a first-time home buyer can obtain a better understanding of their financing options, leading to a more positive home buying experience.

“Whether you’ve been dreaming of owning a home for years or you’ve just decided it would be a smart financial move to make, your first home buying experience will be a memorable one,” says Jim Ferriter, executive vice president for GMAC Mortgage. “It’s important to learn about your financing options in order to find the mortgage that’s right for you.”

Ferriter offers the following tips for first-time home buyers:

1. Educate Yourself About the Mortgage Process - By taking the initiative and learning about the mortgage process, you can be more confident in the financial decisions you are making. It’s important to learn about different types of mortgages, how much you can afford, how your credit impacts your interest rate, and the benefits of home ownership. A mortgage tutorial is available at http://smartedgebygmac.com, which breaks down the home buying process into easy-to-understand steps.

2. Save Just a Little Bit More - It’s not only important to save money for the down payment and closing costs, but it’s important to factor in some of the other costs of home ownership such as decorating, repairs and maintenance. Many mortgage lenders recommend that first-time home buyers have at least three to six months of additional savings in their possession in anticipation of these additional expenses.

3. Check Your Credit - An individual’s credit score will have a significant impact on his or her mortgage loan approval and interest rate. A good first step in financing a home purchase is to check your credit history. You can request a free credit report from any of the three credit reporting bureaus: Equifax, TransUnion or Experian. Carefully review your report and contact the credit reporting bureaus to correct any inaccuracies.

4. Shop Around for a Mortgage Lender - As you start thinking and preparing for the home buying process, start shopping for the mortgage lender from whom you would like to obtain a mortgage for your new home. Because this process is new, it’s easy to go with the first lender or loan officer you meet. Instead, take your time and shop around. Start by asking friends, co-workers and family members for recommendations. When you’ve identified two or three loan officers, ask for references. In addition to pricing (interest rate and closing costs), focus on customer service as well as other services and tools that a mortgage lender may be able to offer you.

5. Get Pre-approved - Before you start working with a real estate agent, consider contacting a mortgage lender to obtain a pre-approval credit decision. A loan officer will review your financial status, including your income, cash flow and credit score, to help you determine the maximum monthly housing payment for which you may be able to qualify, and, if qualified, “pre-approve” your mortgage before you’ve found a home. Armed with a credit pre-approval, you can start searching for homes with a much better idea of your price range, and in turn save time as you will know the right homes to focus on. Obtaining a pre-approval may offer more confidence and certainty to home sellers in your ability to purchase the home.

6. Don’t Be Afraid to Ask Questions - Once you’ve found your new home, the mortgage lender will help you through the details of the loan process. From application to closing, your loan officer will work through the financing process with you, just as your real estate professional should do in the home buying process. Throughout the process, read all loan documents carefully, and involve an attorney, if necessary.

7. Inspect - Before you commit to purchasing a home, don’t forget to hire a licensed home inspector to conduct a thorough assessment of the property. An inspector can alert you to any major problems with the home, and/or help you understand potential short-term and long-term home maintenance issues.
Courtesy of ARA Content