There are plenty of ways to improve the value of your home whether you want to sell up or just invest some money into the place that you live.

Of course building an extension is one strategy, but that isn't exactly practical or affordable for the majority of people. So here are 5 alternatives which won't cost quite as much and can quickly add a little bit of value whilst at the same time making your home a little bit nicer to live in.

1. Redecorate

This is one of the simplest ways to quickly reinvigorate your home if it is looking a little bit shabby. You are never going to make a fortune just by painting a few walls of course, but if your decor is looking a little shabby, a fresh lick of paint can make your house a whole lot more salable and it will certainly pay for itself in terms of the cost.

2. Update the Exterior

Curb appeal really does matter and if the outside of the building is out of date or run down it could knock significant value off of your house, so consider putting right what you can, make sure your windows look solid, clean and are in fitting with the type of home (sash and case windows go great with cottage style homes) - replacing them if needed, make sure your guttering is all in place and consider re-painting your front door if needed.

3. Redo the Garden

Just as can the outside of your house, having a shabby and unkempt garden can cost your house a significant amount of money. Tidying up your garden doesn't have to be expensive, just having a well kept lawn and keeping it free from weeds might be all you need - but a nicely landscaped garden certainly wouldn't hurt.

4. Loft Extension

This is a slightly more expensive job, but it is certainly cheaper than a full extension and if you happen to have a good sized loft an extra bedroom can actually add significant value onto your home. The key is to use the space effectively, don't leave yourself with a house that doesn't make much sense - like having 4 bedrooms and only 1 rest room.

5. New Kitchen

The kitchen is one of the most important rooms in your house in terms of value, and if your kitchen is looking a bit old or un-inspiring, getting a new one can often add significant value. If you are able to fit the kitchen yourself you can potentially make a profit, but even if you have to pay someone else, you will probably add enough value to offset the cost of the investment.

This is the final blog in a series on financing your home. Before we get to the final step, let's review the first 5. 

Step 1: How Much Can You Afford?

Step 2: Selecting a Lender

Step 3: Selecting a Loan

Step 4: Shop. Compare. Negotiate

Step 5: Loan Pre-Qualification & Pre Approval

And Finally, Step 6: Loan Approval

Processing and Underwriting - Expect a time delay in getting final loan
Avoid the most common problems with these worksheets:
Mortgage Application Checklist
Mortgage Loan Flow Sheet

Neither pre-qualification nor pre-approval nor a means you are guaranteed a mortgage. In order to get final loan approval and money delivered to the title company at closing, the loan must be processed and then be underwritten.

The processing department must order appraisals, title work, and verify employment and credit report. The underwriter must make sure that your loan meets the requirements for the particular loan program you are using. Problems with these final steps can often be traced to buyers not having submitted the necessary financial items and paperwork in a timely manner, and the fact that Processing and Underwriting are separate departments within the lending institution which can create a bureaucratic delay in completing this process.

For more information on Financing Your Home, visit our Buying a Home Website. 

For the past few weeks we've been discussing financing. Last week we covered Selecting a Lender and Selecting a Loan. 

This week we want to talk about the next two steps in the process. 

Step 4) Shop! Compare! Negotiate!

In "Step 3) Selecting A Loan," we provided the Mortgage Shopping Worksheet so that you could compare the loans being offered by different lenders.

Now that you know about rates, points and fees, and different types of mortgages, we want to provide you with 2-calculators
•Which loan is better?
•Which lender has the better loan?

These will help you when you are using your work sheets to compare products and making your final decisions. Remember Mortgage Loans are a commodity! Use your "Worksheet and Questions" to make lenders and brokers compete with each other for your business. Let each lender know that you are shopping for the best deal.

You are the Buyer; the Lender wants your business Negotiate, Negotiate, Negotiate until you get to the best possible Rate and Terms.

Step 5. Loan Pre-Qualification & Pre Approval

In "Step 1) Determine How Much Can You Afford," we emphasized the need to meet with a loan officer and get a Pre-Qualification Letter listing an estimated amount that you qualify to borrow.This was based on your credit report and information you provided about your income and debt payments. Your qualification amount was based on this information, and the affordability calculator we provided.

Now that you have determined the Lender and the Type of Mortgage that you are going to use to finance your home purchase, it is time to go to the next level - Pre-Approval.

What's the difference? Pre-qualification is an estimate based upon your credit report and the income and debt information you provided. The Pre-Approval process now requires you to provide all the documentation required in a full Loan Application, and the lender will now verify all of that information. This Loan Application Checklist will help you have all the documentation the lender needs.

A Pre-approval Letter is a firmer commitment on behalf of the lender as to the amount they will loan you.

The lender has now done all the verification work required for a full approval except for a final repeat credit report, verification of income, the home purchase agreement, appraisal, title search, and finally underwriting.

Last week we started talking about our 6 Step Process to Financing Your Home. We covered the first step: Determining How Much You Can Afford. This week we want to cover selecting a lender and selecting a loan. 

Step 2) Selecting A Lender

While there are many people who prefer to deal only with their regular banking institution, as your REALTOR advisors, we will probably suggest you SHOP around to find both a lender and a loan that are most suited to your needs.

Home Financing is a competitive market. Visiting with Banks is OK, but you should consider contacting more than one Lender and lending institution (Banks, Credit Unions, Private Mortgage Lenders, Mortgage Brokers, as well as a host of reputable Online Lenders).

You need to interview and evaluate each individual lender personally as well as rate their company, and the products they offer. Be prepared with a questionnaire and compare them side by side. We will provide a Mortgage Shopping Worksheet to assist you.

Whomever you choose to represent you, make sure that you have selected the Lender that you trust, and who you believe has expertise, and will provide you with the service and results that you expect and deserve.

Step 3) Selecting A Loan

A mortgage is a product! There are many different models and prices.

Each mortgage / home loan product has a different price, different terms, with different benefits and drawbacks. You have a variety of financing options available to you, each one is designed to meet different goals and financial situations. You'll want to compare all of these factors.

Shopping, comparing, and negotiating may save you thousands of dollars. Two tools that will be particularly useful for you are this chart comparing the pros and cons of the most common types of Home Loans and who may find them most useful, and this Mortgage Shopping Worksheet with questions you should ask each lender about each type of Mortgage that they offer so that you can compare them side by side to help decide which lender and which loan is best for your needs.

Next week we'll talk about steps 4 and 5. To read all 6 steps visit our Buying a Home in Las Cruces website. 

We've outlined a 6 Step Process to Financing your new home on our Buying a Home in Las Cruces website. 

This morning we want to talk about Step 1 in that process: Determine How Much You Can Afford

You should not even begin the Home Buying Process until you determine
•Is it better for YOU to Rent or Buy?
•Have you considered the Pros vs. the Cons of Homeownership?
•Can you afford to be a Homeowner?

If being a Home Owner is still right for you, now, you can you take the first step in the Financing Process:

Determine What Price Home Can You Afford to Buy?

Knowing what you can afford will save you a lot of time and frustration because you can limit your search to homes thatare appropriate for you, and then and then when you make an offer you know that you probably qualify to buy that home.

The Evelyn Bruder Dream Team Buyer's Agent will assist you in setting up meeting with lenders, in person or online. We will do this as soon as possible.

The amount that you are "qualified to borrow," or getting Pre- Qualified does not obligate you to any particular lender, but it will allow you to determine:

•What price home you can you afford.
•How much of a Mortgage you will qualify for.
•What will your Monthly Payment Be?

The Evelyn Bruder Buyer's Agent knows the main factors that determine the amout of loan you qualify for are your credit score, current salary, employment history, and current debt. We will provide you with an "Affordability Calculator." Using this, you can get an idea of what price home you are qualified to buy even before visiting Lenders .

Your Lender will do similar calculations base on the information you provide, and then give you a "Pre-Qualification Letter" stating that you should qualify to borrow this amount of money for your home purchase.

Your Buyer's Agent Realtor, as your trusted advisor and counselor will tell you that Lenders often qualify a homebuyer for a loan amount that exceeds what you really can afford. Together you should determine if you really should borrow that much. Willyou have extra money left, or will you be "house poor"? You and your Realtor can decide the actual amount you want to borrow. Remember that you can always borrow less than you qualify for.

Congratulations! You have completed Step 1 of the Financing Process

Next week we will continue our introduction of these remaining steps in the financing process. If you'd like to read all 6 steps right now, visit our Buying a Home in Las Cruces website.

It is important to note that the financing process is an essential part of the home buying process and you should be following these steps at the same time that you are home hunting. It is only when these two come together at the end that your home purchase is successful and hassle free

A friend asked me the other day what will happen to the Las Cruces real estate market in 2012. 

Not being Nostradamus I hesitated to give a prediction, but the truth is that the real estate market is pretty good for certain people, especially buyers. Plus mortgage rates remain at their lowest point in nearly 60 years, and prices are settling. 

And people still move up and still move down -- buying and selling homes to meet those ends. Here are 5 tips for you looking to engage in real estate next year.

1. Buyers - Redefine Value

If your home has been on the market far too long, there's a good chance you're not facing market realities. The value of your home isn't what the tax assessor says it is, or the sum on that two-year-old appraisal you have filed away. It's not what a similar-size home that sold across town. It's what a buyer is willing to pay today.

To arrive at that sum, the sales prices of foreclosures and short sales must be factored into the equation, along with the average value of seller concessions in your submarket. These factors are advanced by the Federal Housing Finance Agency, or FHFA, in its appraiser code-of-conduct revisions to ensure more accurate documentation of market conditions. If your agent tells you that you're overpricing your house, he or she may not just be trying to grease the wheels for a quick commish, as you might suspect.

2. Hire Professionals

As tempting as it is to share the seller's agent to save a couple grand, don't.

The same goes for using the other party's inspector and appraiser. They were hired by the seller and have a fiduciary allegiance to the person who's paying them.

Don't automatically opt for real estate professionals referred to you by your agent either. A huge capital purchase is not the time for such friendly accommodations.

Briefly interview three of each by phone. Make sure your appraiser and your inspector (and perhaps a separate termite inspector) are appropriately state-licensed or state-certified and, ideally, have been practicing for at least five years and have done more than 200 inspections or appraisals. Compare the results of your inspector's findings with the inspection findings of the other party, and you're likely to stumble on disparities or omissions.

3. Sellers - Think Like a Buyer

Put your ego aside, sellers. Your for-sale home is no longer about you -- it's about the buyer. So be empathic.

What would you expect to see on a tour of a for-sale home? Even though you're essentially marketing brick, mortar and land, the emotional response you elicit in a buyer is often what seals a deal. Neutral colors allow buyers to picture themselves in your house.

To appeal to their olfactory pleasure senses, employ the age-old tactic of baking fresh cookies before potential buyers arrive -- then leave them for your visitors to enjoy. Or at least light a candle or two. To convey an inviting atmosphere, de-clutter the place with renewed vengeance, stow away your inexpensive or tattered furniture and box up cherished mementos. Remember that the illusion of space is almost as important as the space itself.

When the Evelyn Bruder Dream Team puts your home Online, it receives unique positioning and exposure. If you are looking to sell your home in Las Cruces, you need a comprehensive online marketing plan. 

Here's a sample of the things we've found to work:

1. Our Website Network

We sell your home on OUR OWN Internet Network of Real Estate Websites.

View This Site Map and Visit Our Websites

These are all of our Websites. All are custom-designed and self-administered. This arrangement provides specific benefits for your home that are rarely found among Realtors with one "template" website.

A. The power to customize and maximize the presentation of your home.

See what this looks like. 

B. We draw in home buyers. A potential home buyer may be searching for information about our area, or something else that is provided on one of our niche or specialized sites.

They can get their desired information easily, but all of these sites allow them to search your home among our "Featured Listings."

Most potential Buyers will want to search the MLS database. Each of these sites encourages them to search, and makes it easy for them to do that. We have created the Most Advanced Homes Search Possible, and we make the home buying experience, not only easier, but actually fun.

C. All of our Websites offer information or services which results in many of these browsers identifying themselves as potential home buyers, and by following up quickly, we can find out if they might be a buyer for your home. They then become a part of our Targeted Marketing Campaign.

2. Craigslist

A very important source of buyers in this new Marketing world is Craigslist.

We get significant response from our postings of home listings. Responses are most heavily from in-town potential buyers, but many are from out of town Buyers looking to retire or relocate to Las Cruces.

We post daily. Your home will appear on a 3-day rotation, and every posting has a link to your Virtual Tour or Virtual Tour Video.

Click here for an example of what our Craigslist postings include.

Again, we have a report generator which will tell you how many individual visitors saw your home per day.

3. Realtor.com

We pay for, and provide you with, an enhanced property listing created on Realtor.com. This is the largest and most used national home search website. It accounts for 82% of all real estate searches in the US. We in effect are creating (and we market it as such) a single property website for your home.

Here is an example of one of our listings with detailed explanations.

Enhanced listings are seen first on Realtor (yielding as much as twenty times more exposure than non-enhanced listings). We will provide you with weekly reports of the number of times your home has been "viewed."

While these are 3 key elements of your home's online marketing plan, this list is far from complete. Visit our Selling a Home in Las Cruces Website for the rest of the list.

Since we are involved in real etate on an hourly basis, we often forget that others are not. Yesterday I met a friend of a friend who asked me why she should work with a buyer agent. 

I thought this stuff was pretty common knowlege, but apparently not. Here are 5 reasons should work with a buyer agent. 

1.Only a "Buyer Agent" can Guarantee to:

•Represent only you, the Home Buyer
•Negotiate only on the Home Buyer's behalf
•Provide the true facts (good and bad) about:
Value,
Market,
Neighborhood conditions, and
Obvious physical defects.

2.A "Buyer Agent" Can Do A Better Job For You Because:
•They have a legal obligation to put the Home Buyer's interests first
•Other Agents will not disclose things beyond those required by law
• They will disclose factors which might be detrimental, or make a property less desirable
•Buyer Agents are negotiating only on your behalf to get the lowest price on the best terms

3.A "Buyer Agent" Owes You, The Home Buyer, The Duties Of:

•Confidentiality
Buyer Agents are prohibited from disclosing:
The real price a Home Buyer is willing to pay
The amount of mortgage a Home Buyer is actually qualified for
How much cash a Home Buyer has to work with
The level of a Home Buyer's motivation to buy a particular home

•Undivided Loyalty
Buyer Agents are prohibited from advancing any interests that are adverse to their Buyer.

•Full Disclosure
Buyer Agents" are required to disclose all information which might affect their buyer's best interest
What they know about the Seller's own motivation for selling
The price the Seller paid for the home
Deferred maintenance or defects in the home, o Price comparables for similar homes,
The listing history of the home
Potential problems in the neighborhood

4.Your "Buyer Agents" will help you:
With finding and negotiating for the right real estate
With the evaluation of financing alternatives
With the choice of a qualified home inspector
With the choice of other professionals as needed.

5."Buyer Agents" goal is NOT TO SELL their clients any specific property.
The Buyer Agent is there to assist you in every way possible to finding the right home for you.

Learn more about our buyer services on our Buying a Home in Las Cruces. 

We started talking with a couple about how they wanted their dining room to function and we got into a detailed conversation about dining room furniture. 

When choosing your dining room furniture, you should start with the dining room table.

The first thing you'll need to consider is shape. Choosing the right shape for your dining room table is going to set you on the right path toward maximizing the room's space and creating the best atmosphere for your home.

Specific considerations for these different shapes are discussed below, but also remember to consider what, if any, auxiliary uses you might have for dining room. Some homeowners use the dining room as their home office as well. Others may use it as a sitting room, either for reading or entertaining. Is it more important that your dining room provides a daily dining area for your family? Or do you need a more formal area for guests and parties?

Round Dining Room Tables

A round dining room table is the most space-efficient shape possible. It is also the least formal. You should consider choosing a round table if you have a smaller dining room. Realize, also, that a round dining room table doesn't create a "head of the table." This can be a plus for casual and family dining and for diffusing power relationships in stressful family or business settings. If you like to play cards or board games, a round table will allow everybody to reach the middle of the table.

Square Dining Room Tables

Similar to a round table, a square dining room table creates a bit more formal atmosphere but sacrifices the use of extra space in the room. A moderately-sized, square dining room best accommodates this shape. Not entirely casual, but not entirely formal either, couples who like to entertain their coupled friends may find this table ideal. Each couple can have their own side of the table and nobody has a privileged place. A square dining room table is another good table for games.

As we go through the process of planning a new home in Las Cruces for one of our clients we're sharing some ideas that we explore with them. 

Here are the thoughts we discussed regarding the office they want in their new home. 

1. Research

Check out online office's, research colors at the paint store and browse office furniture stores and websites so you can get a solid idea of what you want your office to look like.

2. Prep Work and Painting

Chances are someone will need to do some prep work and this could include tasks such as filling holes, removing wallpaper, adding a primer coat of paint to the walls and so on.

3. Take measurements and Start Planning

The last thing you want to do is find a beautiful piece of furniture and then find out it doesn't fit. So measure your room to see what kind of space you are working with.

4. Find Your Main Furniture Pieces

Now that your room is painted and ready to go you will need to fill it in with some of the important furniture pieces such as a desk, chair, cabinets and maybe a bookshelf.

5. Test Different Layouts

Try moving your furniture pieces around a lot to see what layout will be the most comfortable for you.

6. Keep it Simple

The key to a great office to keep clutter to a minimum. We all have tons of stuff, but do you really need that garden gnome with a missing arm on your bookshelf?

7. Organize Your Paperwork and Computer Files

The paperwork can pile up fast now a days and the same goes with computers files, so make sure you take some time to get organized and don't just make this a one time event.

8. Accessories

Now its time to accessorize and give your new dream office that final touch. There are lots of great accessories out there such as plants, vases, candles or maybe you already have some cool items to display, but don't forget less is more!

Sometime a little remodeling can go a long way if you're trying to make a few extra dollars on the price of your home. The bathroom may be an great place to start. 

When you think of bathroom renovation, you may immediately think of the big projects. It's true that some of the most distinctive bathroom home improvement jobs such as installing bathtubs, showers, vanities and flooring, are major efforts that require money, time and professional contractors. But the bathroom is the perfect place to prove that in decorating, less can definitely be more.

For an Inexpensive Bathroom Remodel

Pick a Theme

As any decorator can tell you, you can't always just put together a bunch of elements that you like and expect the resulting whole to be attractive. This goes for any decorating project, but perhaps especially for a bathroom renovation. Decide what you want visitors to notice when they walk into your bathroom, and start there. It could be the bathroom mirror, or perhaps the shower curtains. Make everything else you put in compliment that one detail, both in color and in patterns. A theme of two or three colors, and one major pattern, typically looks best.

Bathroom Fixtures: Focus on Sink and Mirror

When you walk into a bathroom, you can't help but look in the mirror. Reflective surfaces always catch the eye, and mirrors can be attention-grabbing. Make sure you surround the mirror, as well as the sink that is usually below it, with the theme you are showing off.

Vital Bathroom Design Element: The Shower or Bathtub

Most bathtubs and showers are relatively simple affairs. Even the most expensive shower or tub may be absent many distinctive visual features, making it perfectly neutral and great for embellishment. For an inexpensive bathroom remodel, put up shower curtains in the theme you want. Or, direct bathroom lighting to shine on your attractive shower or bathtub fixtures. An addition of a single orchid on your shower windowsill can create an elegant statement. Think about bathmats, towels, candles, and the placement of robe hooks to make your bathtub or shower as welcoming as possible.

Now go give it a try and we'll see you next week for more Tu Casa Home Improvement ideas. 

Last week we looked at staging from the buyer's perspective. While homes like the one above could never be staged enough to hide its appearance, we did come up with a few other things that could throw you off.

Here are a few more timps that buyers need to consider while shopping for a home.

Look for quality

Buyers should look for solid doors and pay attention to the corners of ceramic-tile flooring to see if it has been installed carefully. This is especially important with a recently renovated home because if the place has been fixed up on the cheap, there could be problems that crop up later.

Look at the quality of the kitchen cabinets, bathroom vanities and wood trim. A home that has been solidly built may be a better buy even if it is older, because a cheaply built home will need more work.

Check the lighting and windows

Come back to the property at different times of day and evening to see how it looks. You may not notice that a house doesn't have any overhead lighting until you see it at night.

You should open and close every window to be sure they work, and check on the view and the size of the window. Home stagers sometimes place large curtains over a small windows to make buyers think the window is bigger.

Try the sniff test

A musty smell in the home could mean there are issues with moisture, but even good scents can indicate a problem. The overuse of air fresheners can mean that the owners are covering up a bad smell.

Arrive prepared

Buyers should bring a notebook, tape measure, flashlight and camera on their house-hunting trips. Think about where you will keep your suitcases if you travel a lot, where you will store your bike or your kid's sports equipment.

If you recently moved into a home in Las Cruces with a bathroom like the one above, this blog is for you. 

Remodeling your bathroom can seem overwhelming and expensive. However, you don't have to gut the whole thing to give the room a fresh appearance. Before taking the drastic step of gutting the whole thing, consider these quick and inexpensive bathroom remodeling projects.

Inexpensive Bathroom Remodel Tips

The key to a quick bathroom remodeling is to leave all the major plumbing fixtures where they are. This doesn't mean you have to live with the ugly sink, but it means avoiding costly plumbing costs for moving pipes, tubs and toilets. If you have plumbing experience, you can tackle this yourself. Otherwise, talk with a plumbing contractor.

Step One - The Vanity

The place to start is the vanity area, as this is a highly visible part of any bathroom. If the vanity is sturdy and worth saving, consider painting or staining the exterior. Otherwise, shop around at area home improvement stores for a new one with a rich furniture look. Add a marble or granite countertop, a crisp white bowl and a new faucet.

Step Two - The Bathtub

The next stop is the bathtub. One easy way to give it a new face is with bathtub reglazing. This process takes about four hours and, because of the heavy chemicals involved, should be done by a contractor. For about $350, the contractor would spray a new surface on top of the old tub and any surrounding tile. Top this off with a new tub filler and pulsating showerhead and that area of the room will shine.

Step Three - Finishing Touches

The final step is adding the finishing touches. Look for interesting cabinet hardware, plus fresh towels and a vibrant shower curtain. Top it off with a fresh coat of paint in a bright blue, yellow or sage color.

With a little creativity and hard work, your bathroom can be transformed into a designer's showcase. All within a week--and without breaking the bank.

For more home improvement blogs visit our Tu Casa tag.

Today I want to talk to all you buyers out there looking for the right home: Don't Fall for Deceptive Staging.

I know that it may sound hypocritical to one day talk to sellers about how to make their home look great and then the other talk to buyers about how to see through it, but the truth is we help both buyers and sellers and we've seen it all - the good and the bad, and we are in a great position to help both see through the phony schemes. When we talk to sellers about staging, we aren't talking about tricking buyers, we're talking about how to make your home more presentable.

That's not true for all Realtors.

Here are a few things to look for if you're buying a home in Las Cruces.

Check the floor plan

A buyer should consider whether the home's layout appeals. Be careful to look at what they cannot change in a home or what would be very expensive to change. For example, a great kitchen is always appealing, but if it is located in the center of the home and the buyers prefer a front kitchen, that would be almost impossible to change.

Some buyers think they need a big home with large rooms without considering how they will fill them. You can't furnish a big house as easily as a small house and buyers need to think about the cost of utilities and maintenance on a larger home, especially one with extensive land.

Translate the staging techniques that sway buyers

Buyers must be aware of the gap between how you sell a home and how you live in it. Stagers and builders often remove interior doors to make the home seem airy and open. When you put them back on, the rooms can seem smaller and closed off.

Stagers also use undersized furniture to make rooms seem bigger while sellers store their belongings off site. Buyers must know the size of their furniture and how many possessions they have to see if all of it will fit in the home.

Evaluate the condition

Look beyond new paint. If the air filter is a disaster, that could be an indicator that the owners have deferred maintenance on the property. Buyers should check under the sinks to look for water marks from old leaks and make a list of things to have a home inspector check out more thoroughly.

Do not be shy about moving boxes or checking under an area rug for floor damage or water stains.

What did we miss?

For the last few weeks we have been paying close attention to foreclosures (except for last week when we had some Halloween fun). 

Today we want to pick up the conversation with some alternatives to foreclosure. This list is just part of our overall Foreclosure Resources that are available for free on our website. 

Other Alternatives to Foreclosure

Reinstatement

A reinstatement is the simplest solution for a foreclosure, but often the most difficult to achieve. The homeowner simply pays the total amount past due (including late fees) to the lender.

Mortgage Modification

A mortgage modification involves the reduction of one of the following: the interest rate on the loan, the principal balance of the loan, the term of the loan, or any combination of these.

Deed-in-Lieu

Also known as a "friendly foreclosure," a deed-in-lieu allows the homeowner to return the property to the lender rather than go through the foreclosure process.

Forbearance

A forbearance or repayment plan involves the homeowner negotiating with the mortgage company to allow them to repay back-payments over a period of time.

Rent the Property

This option does not require lender approval, but does require the homeowner's ability to rent the house for enough money to cover the monthly mortgage payment.

Servicemembers Civil Relief Act

If a member of the military experiences financial distress due to deployment-and their debt was entered into prior to deployment-he or she may qualify for relief under the Servicemembers Civil Relief Act.

Bankruptcy

Many believe bankruptcy is a "foreclosure solution," but this is only true in some states and situations. Entering bankruptcy can be a risky and costly process. Be sure to seek the advice of a qualified bankruptcy attorney when pursuing this as an option.

Refinance

Refinancing means you will acquire a new loan based on your current credit standing. If you have already missed mortgage payments, your credit score may make it difficult to find a loan with cheaper payments. Knowing that foreclosure can be avoided gives you the ability to develop a realistic strategy to plan for a future that is both financially stable and full of hope

For more resources on Avoiding Foreclosure visit: http://www.avoidforeclosureinlascruces.com/avoid_foreclosure_free_reports_offer.php

Okay, if you're selling your home you may not want to look like the picture above, but just because your home is on the market doesn't mean you can't get into the Halloween spirit. Here are a few ideas that give you the flexibility of having fun, while not turning away buyers.

1. Pumpkins 

Halloween pumpkins have been around for many years symbolising the need for protection. With carved faces and placed in windows, Halloween pumpkins are supposed to ward off evil spirits. Put them together with horror movies and frightening stories to create a gloomy feeling for all that take part in the celebration. On the night when the border between this world and the Otherworld becomes thin enough to let spirits roam free, the tradition says that we must wear costumes to be left out of harm`s way.

Hint: Go get your pumpkin from one of the popular Pumpkin Patches in town.
http://www.homesforsaleinlascruces.com/blog/every_fall_we_get_maze_crazy/

2. Pillows

Orange and black pillows set the mood for Halloween. In a beautiful, modern and contemporary home, you might not want to have just any kind of decoration. So prepare for Halloween with beautiful pillows that can be used as autumn accents all throughout the fall season. Celebrations are always a good reason to change the feeling of your home for a short period just to get in the mood for the holiday.

3. Lights

Lights are an immense part of decorating for Halloween. Candles everywhere, dim lighting and corners with almost no light at all make a party successful. The Halloween motifs are a great way to change how your home looks for a few days.

4. Houseware

In the kitchen is where all the action happens before Halloween: finger food and ghoulish goodies, potions and atrocious appetisers, all of them will begin their story in the kitchen. Getting in the Halloween spirit means never being scared by a little interior redecorating. A pumpkin here, some dark beverages there and many items to remind you of the night when magic happens can lift up your spirit and prepare the perfect party mix for your guests.

Looking for outrageous ideas? Take a look at this great list of the craziest Halloween House Decorations:
http://blog.builddirect.com/craziest-halloween-decorations/

With all the talk about foreclosure and short sale out there we thought we'd take some time today to make sure you aren't believing some of the most common myths out there. 

1. The Bank Would Rather Foreclose than Bother with a Short Sale

This is one of the most common misconceptions. The reality is that banks do not want to foreclose on your property because the foreclosure process is incredibly costly. Banks, investors, and even the federal government have all publicly stated that if a person is qualified for a short sale, the deal needs to be considered.

Overwhelmingly, banks receive more on their investment through a short sale than a foreclosure. The qualifications for a short sale include:

Financial Hardship - There is a situation causing you to have trouble affording
your mortgage.

Monthly Income Shortfall - "You have more month than money." A lender will
want to see that you cannot afford, or soon will not be able to afford your
mortgage.

Insolvency - The lender will want to see that you do not have significant liquid
assets that would allow you to pay down your mortgage.

2. You Must Be Behind on Your Mortgage to Negotiate a Short Sale

While this may have previously been the case, today lenders are looking for verifiable hardship, monthly cash flow shortfall, or pending shortfall and insolvency. 

If you meet these three requirements and believe that you soon may be unable to afford your mortgage, act immediately. Any delay could limit your options. Do not wait until the countdown clock to foreclosure has started and you have even less time left.

3. There is Not Enough Time to Negotiate Your Short Sale Before Foreclosure

This is a myth that probably hurts homeowners the most. Many do not realize that
foreclosure is a process, and that there is time to make decisions that may result in better outcomes.

The foreclosing party-in most cases a lender-can stall a foreclosure up to the final
day of the process. Today, many lenders will stall a foreclosure with as little as a phone call from you explaining that you are trying to sell, and almost all lenders will stall a foreclosure with a legitimate contract. For real estate professionals who understand foreclosures and short sales, there is time available until the foreclosure process is complete.

Read 4 more short sale myths and other foreclosure reports at our Avoid Foreclosure website:
http://www.avoidforeclosureinlascruces.com/avoid_foreclosure_free_reports_offer.php

We have written before about how presenting an attractive home to potential buyers can greatly increase your chances of selling your house quickly.

Here are 6 more ideas on how to make the inside of your Las Cruces home stand out.

1. Float the Furniture

Though it may seem natural to push furniture against the walls, try "floating" the furniture to make more intimate spaces for conversation. Lisa LaPorta, designer on HGTV's Designed to Sell, recommends visualizing a figure-eight or the letter H and placing furniture in that pattern. Just remember to create clear pathways for traffic to help the flow of the room.

2. Work the Windows

Window dressings can serve as the perfect accent to any room. If the room is small, consider opaque curtains, which allow more light to shine through and give the room a bigger feel. If your windows are narrow, extend the curtain rods about a foot on each side to give an illusion of width. Remember that curtains featuring vertical patterns create an elongated effect; this style compliments most windows in a home. We talked about your windows in more detail last week.

3. Don't be Afraid of Color

Painting is one of the easiest and most cost effective ways to revive a home. Keep in mind that painting walls with a rich color can make the spaces more intimate, dramatic and cozy, while lighter, paler shades help rooms appear more spacious. When in doubt, go neutral.

4. Draw Attention to Art

Instead of hanging art along an invisible line encircling each room, consider hanging pieces in diagonal, triangular or vertical patterns. Michael Friedes, a stager with Nest Home Design, says this creates visual interest and can help direct the eye toward interesting features in a room, such as a bay window or high ceilings.

5. Accessorize in Threes

When creating displays for table tops, shelves, walls and other spaces around your home, experts recommend accessorizing in odd numbers - especially groups of three-and grouping objects by unifying elements, such as color or texture. Display items of various heights and widths with the largest objects in the back.

6. Get Some Flowers

Seasonal flowers help a home appear fresh, clean and beautiful. Whether you showcase budding magnolia clippings in spring or holly branches in winter, there are beautiful arrangements to display in any season. You can't make mistakes when arranging flowers, so remember to get creative and have fun!

Bonus: Choose a Realtor who can help you!

Use our list of 10 common house-buying mistakes to avoid costly regrets.

1. Doing it alone.

Buying a house is a complex transaction. Even if you don't use an agent, you'll need a complete, dependable team: lender, lawyer, inspector, insurer, as well as referrals and advice from friends and family. Enlist the help of these individuals early in the buying process.

2. Buying at first sight.

You may be in love with the place, but does it fit your family's needs and budget? Make a list of your needs and wants and make sure the house fits your requirements. Check out the neighborhood and the community before you buy by visiting at different times of the day and week to learn about noise and traffic patterns. Even if you don't have kids, check out the local schools to make sure your resale value will be good.

3. Not getting pre-qualified and pre-approved.

Being pre-qualified gives you a general idea of how much you can afford to borrow. Being pre-approved means a lender has verified your information and credit rating and agreed to provide you with a specific amount of money. You are in a better position to go house hunting knowing exactly how much you can afford and that you have financing.

4. Overbuying.

You may qualify to borrow more, but can you afford to? Analyze your monthly costs: debt, food, transportation, entertainment, and savings. As a general rule, your total monthly debts, including your mortgage, should not exceed 36 percent of your income before taxes. Be sure to budget enough to cover closing costs (often two to five percent of the home's purchase price), plus moving, redecorating and maintenance. Allow for increases in ongoing expenses such as utilities and taxes.

5. Misplacing your trust.

No matter how much you like the agent, sellers, inspector, or the guy down the block who vouches for them, remember this is a business transaction. Your decision is binding. Do your own research and know your support team's roles and responsibilities.

6. Relying on oral agreements.

Get it right and get it in writing. Written agreements almost always trump oral ones when it comes to contracts. If the offer says the lawnmower is negotiable, but the agent says it's included, get it in writing.

7. Skipping the fine print.

You need to understand what you're signing before you pick up a pen. Ask for documents in advance, make time to read them and ask questions. Get copies of your mortgage papers a few days ahead of closing.

8. Forgetting or betting on resale.

Avoid buying a home that costs 50 percent more than neighboring homes and think before buying the most expensive home on the block. Your neighbors' lower home values will weaken yours. Remember, markets change. If you buy intending to flip your investment and the market falls and you have to sell, your selling price may not be enough to even cover your mortgage.

9. Making an unconditional offer.

Protect yourself with at least two of these contingencies in your offer:

Mortgage financing -- You're pre-approved, but is the house? Before a bank will lend you money, it will want a formal appraisal of the property to confirm that there is sufficient equity in it to warrant the loan. If the house appraises lower than the sales price, the loan may be declined.

Inspection -- never buy an existing or new home without a thorough home inspection. Walk through the home with the inspector to learn more about the house and any concerns he or she may have.

Insurance -- confirm you can get adequate coverage. In some areas, it's difficult to get hazard insurance.

10. Having buyer's remorse.

No place is perfect. There will always be surprises. Don't let a few initial blips spoil the whole ride. And don't miss a great house waiting for the perfect one!

For more help on buying a home in Las Cruces, visit our Buyer's Resources. On this website you can find tons of information for buying a home as well as Tips and Tricks for buying a home. 

Supply, demand, foreclosure rates, mortgage rates - buyers think they need to run spreadsheets and do fancy math to make a smart offer. And THAT can be super intimidating.

But the fact is, there is a pretty short list of steps you need to take to make a smart offer - one that gets you a great value, but is also likely to be successful at getting the property. (A low offer does not make for a great deal if you don't get the house!) And most of the same steps apply to sellers trying to set the list price that will lure the most buyers (and net them the most cash)!

Step 1: What do the "comps" say?

First things first. When it comes to pricing a home, or making an offer to buy one, the ‘first thing" is the home's fair market value.

Both buyers and sellers should work with an experienced, local agent to understand what the home's value is. Most agents will do this by offering you a look back at similar properties that have recently sold in the neighborhood - i.e., the comparable sales, or comps.

Step 2: What can you afford?

This step is much more critical for buyers than for sellers. (Unfortunately, sellers, the facts that you need to net a particular amount to buy your next home or pay your existing mortgages or credit card bills off has no relationship whatsoever to the price at which you should list or will sell your home.)

Buyers - it's a must to make sure that your offer price for any given home falls within the range of what is affordable for you. This includes offering a price within the range for which your mortgage was preapproved, but also includes making sure that the monthly payment and cash you'll need to close the deal (down payment + closing costs) are affordable in light of the particular house. If, for example, the property will require repairs for which you'll need to conserve cash, or has HOA dues you hadn't planned on, you may need to rejigger your offer accordingly.

Step 3: What's your competition? (And what's theirs?)

This is another step at which it's critical to check in with your agent. You need to know what level of competition you'll face - whether you are a buyer, or a seller.

As a seller, you can find this out by looking at things like how many comparable homes are listed in your town or your neighborhood in your general price range (your agent will brief you on this). Sellers should also consider what type of transactions their home will be up against - the more distressed properties (foreclosed homes and short sales) with which your home must compete, the more aggressive you must be with your pricing to get your home sold.

The more competition you have, as a seller, the lower you should tweak your list price to attract buyers to come see your home. (And the more buyers come to see your home, the more likely you are to get an offer!)

Buyers should also be cognizant of the competition level they will face for homes. Believe it or not, even on today's market there are properties and neighborhoods in which multiple offers are the name of the game. Work with your agent to understand the list price-to-sale price (LP:SP) ratio , which lets you know how much under or over the asking price properties are selling for in your target home's neighborhood; the higher the LP:SP ratio, generally speaking, the less competition there is among buyers.

Step 4: How much do they need to sell (or buy) it?

Buyers: Has the listing in which you're interested been reduced at all? By how much? Has the listing agent informed you that her clients are highly motivated, flexible or have an urgent need to sell?

Sellers: most buyers are not in a high state of urgency to buy these days, given the long-term, high affordability of homes and interest rates, except when they have an urgent personal reason for moving, e.g., buyers who are relocating for work. Of course, all of real estate is hyperlocal, so it's important to understand how motivated buyers are in yourlocal market, generally speaking, before you set your list price.

Step 5: How much do you want to buy, or sell, the place?

Step #4 was about taking the motivations of the folks on the other side of the bargaining table into account when formulating your offer and your list price. This step is all about you - what's your level of motivation?

Now, buyers, you certainly shouldn't offer a price way above what the place is worth (see Step #1) just because you really, really want it, unless you have the cash to throw around. But within the range of the home's fair market value, it may make sense to move higher within that range if you are highly motivated to get that particular property.

Sellers: think of your list price as the most powerful marketing tool at your disposal. if you really want or need to sell, get aggressive about setting your price as low as makes sense for your your home's value and local market dynamics to attract qualified buyers and help your home stand out against all the competition.