Tips for House Hunting with Resale in Mind

When looking for a home you probably have a checklist of characteristics that are important to you. However, if you know you are going to be a short-term homeowner here are some special considerations to keep in mind for good resale potential:

House Size—Don’t buy the largest model in the neighborhood. If most of the houses near yours are smaller than your house, they can act as a drag on appreciation. On the other hand, if you buy a small or medium house for the neighborhood, the larger homes can pull up your value.
Prime Neighborhoods—Buying what you need in a more prestigious neighborhood may provide more financial reward that getting what you want in a less desirable neighborhood.
Public Transportation—Even though you many not use them, consider accessibility to public transportation, as well as distance to a major airport.
The Commute—Check the morning and afternoon commute time by driving the major commute routes and to schools and shopping areas.
Schools—Log on to the local school districts website and check out how the schools in the area rank, even if you don’t have school-aged children.
Bedrooms and Bathrooms—three and four bedroom houses are the most popular among homebuyers, so if you can stick in that range you will have more potential buyers when it comes time to resell. There should always be at least two bathrooms in a house, or at least the potential to insert a second one.

Relay for Life

SAVE THE DATE: June 23-24, 2007

WHERE: Los Altos High School

WHY: Relay for Life

Please sign up and join our team as we walk for a CURE!

www.acsevents.org/relay/ca/losaltos

Tips for Sellers in a Cooling Market

A drop-off in buyer demand and rising home inventories has made putting a house on the market trickier for homeowners whose properties appreciated during the boom and who hope to retain their gains. Attracting a shrinking pool of buyers without losing too much financial ground can be tough. To make the most of your real-estate dollars, follow these tips:

1. Know the playing field. Study your local market and investigate other homes for sale, local asking prices and what buyers are paying. Visit open houses in your area. Be savvy to market trends and how what things are worth.
2. Price competitively. Because of the growing number of properties on the market, buyers have a greater number of homes from which to choose. If a home is overpriced, a buyer will dismiss it and move on to the next one. Consult with your real estate agent on an appropriate price.
3. Don’t be quick to pass up offers. The longer your house takes to sell, the more money you lose. Don’t be quick to turn down an offer, because making a deal now, instead of later, can save you money in the end.
4. Negotiate. Offer concessions, such as making minor fixes. Small expenditures, by possibly speeding a sale, can go a long way in preserving the substantial home-price gains.
5. Play up assets. Now that there are more properties on the market, sellers must impress buyers. The strategy is to allow a new owner to imagine himself in the home. Remove clutter. Pay for some inexpensive landscaping. Determine what the popular “look” is in your neighborhood and mimic it.