When I’m working with first-time buyers, I love reading the words “All appliances remain!” especially when they’re coming from apartments and have nothing but milk crates and mattresses with which to decorate.  It does take time to build up an income to replace appliances and to take on other house projects, so appliances remaining are a huge selling point.

Sometimes, however, the appliances that remain are old.  Functioning, yes.  Attractive, no.  The good news is you can make these appliances look a lot nicer with a little ingenuity and elbow grease.  Apartment Therapy offers some tips on how.  For example,

Many appliances can be fitted and updated by changing their fronts. A great option for renters who are stuck with built in appliances like dishwashers. Contact the manufacturer of the appliance who can provide you with a listing of face panels that will fit existing appliances, and face panels that will require customization.

By the way, my friend who just moved hasn’t yet brought over her fancy new washer and dryer, so she’s been using the landlord’s old-fashioned one that has the rotator.  She said the old one works MUCH BETTER!

Photo by Lara604 via flickr creative commons.

Oh Miami I feel your pain.  Your real estate values already plummeted almost 50 percent (47.7) over the past three years.  With new predictions out, your houses are expected to drop another 29.2 percent by this September for a total loss of value at 64 percent.  This is according to Moody’s Economy.com and reported by CNN Money.com.

Side note here … when I add 47.7 percent with 29.2 percent, my numbers come out to 76.9 percent.  As a result I’m hoping the projections don’t add up either.  Nationwide, the numbers aren’t much better,

The average home price in the United States will fall by about 6% by September 2011, according to a joint report between Fiserv and Moody’s Economy.com. And that’s after plunging more than 27% in the past three years.

Meanwhile, Miami.  I went in search of homes available in Miami and found one, two, three, fifty … all in what I would describe as terribly expensive.  Homes that cost $500,000 AFTER the market dropped?  $1.3 million?  $10.2 million?  How big was that bubble where real estate is near beautiful ocean, sand and sun?

I dug more and found listings for foreclosed condos in Miami.  The highest priced one is $2.795 million.  The least expensive is $309,900 (with taxes coming in at a jaw dropping $6,879 per year).  I did find a two bedroom, one bath single family resident in the sunny city for $319,000.

Holy cow, Miami! How do people afford to live there with these prices and those taxes? Before I completely gave up finding something affordable in this dynamic city, I went to one more source - Trulia.  At last I found homes that were nice and didn’t cost a fortune.  My favorite?

This $229,000, four bedroom, two bath, 1965 square foot home with the beautiful screened in back porch.

Now we’re talking!  If you want more information about it, contact Keyes Real Estate Company or click here.

Sellers sometimes get very emotional when they receive offers from buyers… the buyers want that refrigerator to remain that Aunt Sally gave them five years ago.  Not too long ago, one buyer called me upset because the sellers had removed the towel racks from the bathrooms (we knew something was off when we did the walk-thru but it took a couple of days to sink in that the towel racks were missing since the sellers had repaired the holes and painted).  They said they were special towel racks because one was a wedding gift and the other was made by Grandpa Mookie.  They did ultimately pay to replace them.

Other than some of the standard things that you’d expect to remain - light bulbs, ceiling fans, flooring, all doors - the sales contracts are now going into more details about other items that remain.  For example, previously, the offer contract specified that all attached blinds, shutters, and window hardware were to stay.  Now curtains and draperies are also named in the pre-printed contracts.

Buyers should be careful about what other items they should ask to keep, though.  Sometimes lenders kick out contracts if personal property is listed.  If a buyer wants a couch or television, they should ask for it off the actual offer that goes to the lender.  It would be an outside of closing purchase.  I encourage buyers to try to stick with real estate related items so the offers remain clean to allow a quick, easy closing.

My listing has been on the market for about three months now.  The sellers just dropped the price last week and now - after about two dozen showings - we have an offer.  Then, we got another offer.  When it rains, it pours for sure!

If you are in the real estate market, houses under $150,000 are selling quickly because of their affordability and buyers are looking to be under contract prior to April 30th.  If this is your price point, don’t be surprised if you get in a multiple offer situation and don’t be afraid to make your best offer.

Sellers want to sell and they’ll likely negotiate, but it’s not just the price that’s important.  Consider with your offer how long you’ll take to close, what seller concessions you’re asking for, and what items you want to remain with the property… every little detail counts when there is more than one buyer.

A frequently asked question from my buyers - especially from single women and families - is “How safe is the neighborhood?”  As a Realtor, I grapple with a couple of issues when asked that.  First my conscience says, “High crime! Tell them!”  I’m not being unconscionable if I don’t blurt out that the gang activity is horrific, I promise.

Realtors are bound by fair housing laws to NOT steer buyers to or from neighborhoods based on nine protected classes (race, color, national origin, religion, sex disability, familial status, age, and marital status).  We also have to remember that we’re selling a HOUSE, not a neighborhood.

Plus, what if I tell you a neighborhood is safe and two weeks, two months, two years later someone breaks into a home, robs it, kills the homeowner, your neighbor turns their home into a meth lab, or whatever other seedy crime you can imagine?  My buyer may come back to me and say, “But you said it was safe!” and I’d be sued for everything.

I still owe my buyers honesty and care, so how can I address this question fairly?  I always recommend a couple of sources … check out the registered sex offender list is first.  Second, I tell buyers to call the local police and ask them how often they’re called to certain neighborhoods.  Finally, walk around and talk to the neighbors!  They’re going to tell you exactly how it is!

A few years, I showed a house once and a neighbor actually approached my buyer and said, “You don’t belong here.”   He didn’t, we left, and he never looked back.

How to find a safe neighborhood by MSNBC.com provides more tips on discovering a potential neighborhood’s safety, including the broken window theory:

Broken windows, nearly all criminologists agree, along with dilapidated buildings, abandoned lots, missing street lights, rampant graffiti, unkempt yards — basically any signs of neglect — attract crime. The reasons are both practical — dark, lonely spots sit out of view – and psychological — would-be vandals are, ironically, less apt to mess with nice stuff.

Look around when you’re shopping for a new home. Ask questions. Make some phone calls.  Be safe!

Photo by Eva Luedin through Flickr Creative Commons.

Real estate in my office seems to be hopping lately.  We are seeing all kinds of listings and - even better - homes sold on our big board at work, so it’s encouraging.  However no one will ever remember 2009 as a great year in real estate!  And to kick a dog while it was down, the final numbers have come in for the final month of the horrid year.  According to CNN Money December sales were down,

The National Association of Realtors reported that existing home sales plunged 16.7% last month to a seasonally adjusted annual rate of 5.45 million units, down from the revised rate of 6.54 million in November. Still, sales year-over-year were up 15%.

Realistically the slower sales in December shouldn’t be a big surprise.  The original $8000 tax credit was set to expire at the end of November, so most people eligible for the federal money would have closed prior to December.

With the tax credit now extended and existing home owners also eligible for $6500, I’m hoping we’ll see a jump in sales again these first four months of 2010 (a buyer must have a home under contract by April 30 and close by June 30 to get the credit).

A started to write a word of caution about not expecting to get your tax credit refund right away. It was awaiting to have the proper IRS documentation in place as mandated by Congress.  Fortunately, the IRS released the new form today so go for it!

My colleague just told me about a showing he went to last week for one of his listings.  He opened a nice home for an elderly couple to see and after looking at all the rooms, backyard, and closets they stood for a few moments in the foyer chatting.

Suddenly a noise echoed throughout the empty room.  When all eyes turned to the husband he sheepishly said, “It’s old age and too much cabbage.”

I say my friend should be grateful his customer hadn’t eaten a plate full of pinto beans and cornbread.

Kick kick.

I’m still kicking that dead horse here.  Harping about MLS photos that don’t show the TRUE picture of what a house looks like.  I took a buyer to see a listing today.  It was a beautiful country setting, all-brick house, acre of land, enough bedrooms, enough bathrooms.  You’d think giddy-up, right?

Wrong.

Kick kick.

The MLS photos didn’t show the gigantic blue tarp covering the caved in roof.

I would hereby like to move that agents everywhere display honest MLS photos.  But I know it won’t happen.  When hired by sellers, our job as Realtors is to find a buyer for the house and to get the most for the seller you can get.  To do that, you first must attract people TO THE HOUSE … everything after that is negotiable.  If we’d seen the blue tarp in advance, we would have never gone to look at the house.

That picture would’ve been worth about 24 miles for me… 24 miles that I wouldn’t have had to drive had I only seen it.

Photo from here… not the actual house.

The great recession of 2008-09 rocked the U.S. economy.  The slowing housing market was the lead indicator of the problems ahead and home builders were quite possibly the first to experience the fall-out.  With plenty of lots snatched up during the early 2000’s, they now sit empty with only stakes marking off property lines.  The subcontractors - foundation experts, drywall installers, roofers, plumbers, electricians - have gone home.  The real estate signs are now seeing seasons change.  And the builders are struggling to make ends meet.

I’ve seen numerous reputable builders who construct solid, high quality homes fold.  I’ve been fairly shocked this past year when I hear who’s homes are on the auction block or who has declared bankruptcy.  Not only is it devastating on the builder, their workers, and any agents who work for or with them, it also hurts buyers who are under contract to purchase.

How do you protect yourself from buying from a builder who is experiencing problems?  How do you know?  Ken Kruse, president of Payne Family Homes - a company with 25-years of experience in the St. Charles County area of Missouri - writes about what to look for to determine a builder’s financial stability as you consider purchasing a new construction home,

First, visit several of the builder’s projects — not just the one you are considering — and note building activity. Several homes in various stages of construction are a sign the builder has the financial capacity to complete your home.

Check that entrance monuments and common areas are well maintained. Are undeveloped building sites neat and tidy?

Ask your real estate agent questions.  We talk, we listen, we like to know what’s happening in our communities.  And we want our clients to have good experiences as they navigate the home buying process.

With the tax credit extended through April 30th (and close by June 30th) so that qualified first time buyers can receive $8000 back from the federal government AND qualified current owners eligible for a $6500 tax credit, it begs the question, “Where are all the buyers?”

Right now a lot of real estate activity is through investors who are snatching up properties because home prices are low - especially investors who can buy without depending on a bank loan.  However loans are still available for regular buyers, too, at historic interest rates.  (Check the daily interest rates available nationwide here.)

If you feel secure in your job, have a good credit score, and a desire to own a home, remember that money is money.  These thousands of dollars offered as tax credits by Uncle Sam will go away later this spring.  What first-time buyer is not qualified for the tax credit?  Here are some restrictions.  If…

• They buy the home from a CLOSE relative (including spouse, parent, grandparent, child or grandchild).
• They do not use the home as principal residence.
• They sell the home before the end of the year.
• They are a nonresident alien.
• They are - or were - eligible to claim the District of Columbia first-time homebuyer credit for any taxable year.
• Their home financing comes from tax-exempt mortgage revenue bonds (does not apply for home purchased in 2009).

If you’re seeking the $6500 tax credit, remember you must have owned and occupied a primary residence for a period of five CONSECUTIVE years during the last eight years.

Remember, money is money.  If you’re ready, willing, and able to buy right now and qualify, don’t delay if you want to receive $8000 or $6500.