“Very few investors are buying the properties at the auction because the lenders are taking it back themselves,” said [Harold] McGee, referring to the new trend. “I went with an investor to the courthouse steps  for the February auction, but there were very few investors and the reps for the lenders were outbidding. I have bought all (my foreclosures) through the  MLS.”

So while we are looking at four years of shadow inventory, at least the market is stabilizing.

Notice of Sheriff’s Sale. Magnificent estate on prestigious Rockingham Avenue in Brentwood Park. Formerly the site of acting icon Judy Garland’s home, this French estate has plenty of appeal and class. With close to an acre of land, the lush and serene grounds will make you second guess where you are. The charming one story French beauty has it all. Large kitchen, many bedrooms, pool, recessed lighting and crown molding throughout. With over 6,000sf. of living space, the estate’s potential is limitless. See private remarks for more details of the sale.

Photo from listing by Kameron Eliassian.

You have eight seconds to impress a potential buyer, according to real estate whiz Barbara Corcoran. LaNita Cates of Joliet, Illinois agrees with her,

I always tell my buyers that they will know when they walk in if this is their home or not. If they aren’t feeling it within the first 10 seconds, let’s move on. They never believe me… AT FIRST. But usually by the 4th house they agree that they know pretty much immediately if they are interested or not when walking in the door.

So buyers pretty much know.

Make sure the house is parade ready before you sell!  The weeks of work to get ready to list could be worth that 8 seconds.

Lighten and brighten

What to do: “Open windows; clean windows and skylights inside and outside; replace old curtains or removing curtains; remove other obstacles from windows blocking light; repair lighting fixtures; make sure window open easily.”

Estimated cost: $424

Potential ROI: 299% or $1,690

There are several other extremely helpful suggestions on how to get a home ready to sell on the NAR site, so take  a gander over there and look around!

Photo from Apartment Therapy.

Fannie Mae, Freddie Mac, and the Federal Housing Administration recently have raised their loan fees, which means home buyers can expect to pay a little more for their mortgage this spring. 

“Those who don’t have credit scores in the high 600s to low 700s may be forced to go the FHA route,” says Ed Conarchy, a mortgage planner at Cherry Creek Mortgage in Gurnee, Ill. “And they will be stuck with the higher fees.”

Increased fees because of lower credit scores. Doesn’t sound great, but having your own piece of dirt is still a dream of many Americans.

Inisliroo Island is located on Lough Erne lake in County Fermanagh, and it’s priced to move at about $970,000.  A selling point for the property is its rich history as a home to four generations of one Irish clan, and that the original family dwelling is still standing. While you might get some fruit out of the deal, don’t expect the modern conveniences to which so many of us have become accustomed. The realtor touts a phone line and a “startomatic electric generator,” which is original to the small house on the island.

While we are very certain the island must be fairly stress free, not having modern technology would be a deal breaker for me!

There are all kinds of ways to make an offer more desirable than the other buyer, but that still does not guarantee the other buyer doesn’t have an ace in the hole… cash and $5,000 more than the asking price!

Jon Eliason of Pagosa Springs, Colorado has buyers who seem to be in a constant bidding war,

A couple of months ago, we were seeing the Multiple offers scenario, but not to the extent of which we are seeing it now. It has gotten to the point now, that whichever home my buyers became interested in, it already has several offers, either coming in or already presented.  My Buyers do not want to get into a bidding war.

They may have to.

While Jon’s buyers are experiencing a surging local market, rest assured it is going on in other parts of the country too. Now IS the time to buy!

Photo from Pinterest.

Now that’s some serious weather!

If you want to live somewhere where perhaps the climate isn’t as harsh (but no promised here!), check out the design by D*Haus where the house moves around depending on wind direction and other elements.

The London-based company has come up with a eco-friendly house that sits on rails, allowing it to change its form into different configurations, pivoting open and closed, based on the weather. According to Daniel Woolfson of D*Haus, “The dissection of the square into four distinct shapes allows it to be rearranged to form the [equilateral] triangle. This concept alone is fascinating, but the possibilities are endless when applying this formula to the world of architecture and design.”

Amazing.