Wanda's Blog

Do you every wish you could include the caveat "No Moms Allowed" to an agency agreement? Oh yeah, and add "Over Protective Dads", "Grandpas Who Bought Their First Home for $5,000", "Spoiled Sisters In Law" and "Know It All Best Friends"... Family and friends who accompany first time home buyers on their house hunt have good intentions, no doubt. But their lack of market knowledge, strong opinions and subjectivity can really kill a sale.

Well-meaning friends and relatives can offer so many conflicting opinions that it can cause confustion and frustration. First time home buyers start to second guess their instincts, become indecisive and reluctant, and rely too heavily on what everyone else thinks they should do.

It's a good idea for an agent to have a "Prep Talk" with clients before setting out on what can become an excruciating number of showings if things get out of control. Preparing your buyers for the process by giving them objective, informed and practical advice can prevent some of the common roadblocks.

One piece of advice that works well with first time buyers is to have them wait until they have narrowed their search down to three properties before bringing in the troops for a barrage of opinions. By the time they have narrowed it down, they have hopefully learned about their needs and wants, the realities of what their budget will buy, and their personal tastes. Also, at this point it may actually be helpful to hear what others think, as they may have experiences that could provide good insight.

By suggesting this method to buyers, you may also take a little pressure off of them by giving them a plan. It's hard to say "no" to Mom and Dad, but a simple statement, like the one below, can help ease any guilt and hard feelings and set the tone for the transaction:

"Jake and I are seeing properties this weekend. As soon as we have our top three, we will definitely need your help and opinion before making a decision."

First time home buyers in the Cedar Rapids, Iowa, area should contact Wanda Tharp for expertise, experience and trustworthiness. Contact Wanda today at WandaTharp@CBHRealty.com or 319-361-2383.

From Frontdoor.com

Read the Top 10 Things You Need to Know About Foreclosure:

1. Foreclosure is a process, not a thing.
2. The foreclosure process has four phases. The terms and length of each phase vary by state.
3. A difficult financial situation doesn't have to lead to foreclosure.
4. The mortgage lender is not eager to take your house away.
5. You can sell your home immediately when foreclosure is looming.
6. All is not lost once you get a notice of default.
7. A short sale is better than going through foreclosure.
8. Foreclosure has major legal, tax and credit consequences.
9. Buying a foreclosure property doesn't always mean you'll get a bargain.
10. Understanding your mortgage can help you avoid foreclosure.

When you choose a home, you are not just choosing what is beneath the roof and within the walls. You are choosing, a neighborhood, and essentially, a lifestyle. The Cedar Rapids area has a wide variety of neighborhoods, all with their own unique features. This post is dedicated to highlighting a little bit about what this Northeast neighborhood has to offer.

Homes in this family-orienteted neighborhood tend to sell very quickly. Many buyers are drawn to the desirable school district, and convenient location with close proximity to Rockwell Collins, the Lindale Mall area, and easy access to 1-380. The first home was built in 1964, and the area has been continually developed since. With several different phases from Bowman Woods I, II, III, Bowman Ridge and Bowman Trail, and so on, home prices range from the mid 100,000's to half a million dollars.

Many of Bowman Woods' residents enjoy the private pool and tennis court within walking distance from home. Bowman Woods Elementary also is adjacent to a lovely park and a large hill famous for sledding! Whether you are in the older section on top of Brentwood hill or the newly developed area still underconstruction, you are certain to find friendly neighbors, happy kids, and a comforting sense of home.

 To visit homes available in the Bowman Woods neighborhood, contact Wanda Tharp today at 319-361-2383 or email WandaTharp@cbhrealty.com

We all know that when it comes to real estate, it's all about "location, location, location." And for home buyers with families, school district gets particular attention. So what if you find a home you love, in a great location, but in school district with a less than stellar reputation? If you truly love the home, and plan to live in it long term, then this isn't a deal breaker. You do have options, and a little creative problem solving is all you need.

Here are some tips from a teacher with experience as a real estate agent in the Cedar Rapids area:

• Don't judge a book by its cover. Make a point to visit the school yourself and formulate your own opinion. Look at the teacher-student ratio and the visibility and interaction of administrators. What is the overall tone of the school when you walk through? Are the children happy and quietly engaged, or running wildly or acting defiantly? If you decide it is NOT the place you'd like to send your children, you still have some choices and options.
• Private/parochial schools are located conveniently throughout the area with an elementary school in every public school district. Busing is often available, as is before and after school daycare. This is helpful for families with work hours that do not coincide with school day hours. These schools do charge a tuition which varies greatly depending on parish membership, etc. Scholarships and aid are also available to those who qualify.
• Consider open-enrollment. You can choose to keep your children enrolled at their current school, regardless of what district you move to. You can also choose to enroll in any of the other area schools that are not at their maximum capacity. The application process is simple. One thing to consider is transportation. You will likely be responsible for transporting your child to and from school. Think about carpooling or arranging your work schedule to accommodate this.
• The age of your kids and grades served in your neighborhood's school should be considered. If your youngest child is in fourth grade, and the school is K-5, then the issue may not be as crucial as you thought. One year of making accommodations for open enrollment isn't a deal breaker. On the other hand, one year at that school will not make or break your child's education.

The best advice is to be realistic, creative, and informed when it comes to choosing a home and school for your family. Your Realtor should be able to provide you with resources about area schools, and each school's PTO will be an excellent source for you as well.

Spring has sprung and everywhere you look, things are turning green. Why not take a cue from nature and join in? Here are some simple tips to "going green" in your own home.

• Use cloth bags for shopping. Most retailers sell environmentally friendly shopping bags with handles that fold up and can be stored under your driver's seat. Reducing the amount of plastic bags used keeps them out of landfills, water sources, and from blowing around littering the community. If you do use plastic bags, collect them and periodically drop them in the convenient recycling bins at supermarket entrances.

• Ditch the plastic water bottles. Not only can they contaminate your water with harmful chemicals, they also account for an enormous amount of our trash. Choose a refillable container and use one of the simple filtratons methods available if your tap water is not palatable. Talk to your co-workers and go in on a water cooler with delivery service if your office typically uses vending machines or bottled water.

• Use compact fluorescent light bulbs in half of your fixtures. I know, I know, they are not as flattering or pleasant as incandescent bulbs. But if you strategize, you can mix and match them and still benefit. Use strictly fluorescent in the garage and outdoor fixtures, closets and storage rooms. In fixtures with multiple bulbs where quality of lighting is more important,(bathrooms, dining room, ceiling fans) use half fluorescent and half incandescent. This will still cut down on energy consumption, while giving the desired lighting. Use a low watt fluorescent in one lamp to be left on when no one is home.

• Recycle everything! Take the extra second to place recyclable items in an appropriate receptical. Make recycling easy and an expectation at your home by having separate bins and teaching family members about sorting their garbage.

• Put on a sweater instead of turning up the thermostat, or use a ceiling fan rather than during it down. Just by keeping it a few degrees lower in the winter, or higher in the summer, you can cut your energy consumption considerably.

• Buy local produce and meats. Even though some may seem to cost a bit more, their impact on the environment is substantially less. The shorter the distance from farm to store, the less fuel used to transport and the fresher the product will be! Earn extra green points for finding sources that practice sustainable farming practices. These are the most Earth-friendly, and in return are better for you, too.

• Sacrifice convenience and make conscious choices. Disposable products may be easy, but if there is a reusable version available, use it! Recycle the paper disposables that you do use, and wash and reuse plastic. You can easily get several uses out of plastic forks, cups and plates with just a little effort. Plus, it saves you money by not having to buy them for every party or event.  

• Use Earth-friendly cleaning products. They are affordable, effective, as well as safer for pets and children.

1. They don't ask enough questions of their lender and end up missing out on the best deal.

2. They don't act quickly enough to make a decision and someone else buys the house.

3. They don't find the right agent who's willing to help them through the homebuying process.

4. They don't do enough to make their offer look appealing to a seller.

5. They don't think about resale before they buy. The average first-time buyer only stays in a home for four years.

Source: Real Estate Checklists and Systems, www.realestatechecklists.com.

Whether you have had your home listed for some time, or are preparing it for market, you can add tremendous appeal with one weekend of a little elbow grease and one hundred dollars. Let's face it, life gets so busy that we often put off the little projects around the house that aren't urgent. While understandable and acceptable for every day living, it's definitely not going to help you sell your home.

Budgets and time are getting tighter and tighter, and an "extreme home makeover" is just not realistic for the majority of home owners preparing for market. But there IS a way to give your home the added appeal it needs to catch a buyer's eye WITHOUT breaking the bank or sucking up all your free time!

One weekend and one hundred bucks will get your home ready for buyers! Here is a simple list of tasks that can be accomplished in one weekend, by even the most "un-handy" of home owners.

• Clean up the home's exterior.Take down any ornamental objects and holiday decorations. Keep children's toys in the garage or shed, and put away any small toys or objects on a daily basis to keep a neat appearance. A $3 laundry basket is a great way to keep balls, bats, Frisbee's, etc. tidy.
• Give your landscaping a little love. Mow the yard, trim the bushes, rake leaves, get rid of weeds and dandelions. Home stores offer a variety of cute and inexpensive planters. A few pots, bags of soil and flowers will set you back about $50. Add a few planters with bright flowers to the front porch or walkway. Trim back bushes and leaves that block out natural sunlight from entering windows. Clean out gutters and remove any debris from roof.
• Break out the broom. Get rid of cobwebs under the awnings and around the front entry. Sweep the front walk, stairs, porch, driveway and even sidewalks that line your property. You will be amazed at what this does to the overall feel of the property when buyers approach the home. Don't forget to clean up the BACK of the home, too!
• De-personalize and de-clutter the interior. Not everyone can appreciate your collection of tiny spoons or little cherub statues, and they could become a major distraction to those buyers. Some buyers just cannot overlook furnishings, decor and possessions within a home. So make it easy for them to see the HOME itself, not your PERSONAL belongings. Take down personal photos, clear off the fridge, put away collections and knick-knacks and make the space as NEUTRAL as possible. Rubbermaid totes are sturdy, seal well and cost about $9. Pack away your very personal items that may detract from your homes features.
• Kitchens and bathrooms should sparkle! Clear off counter tops of unnecessary items and store personal hygiene items in medicine cabinets, drawers or closets. No one wants to see globs of toothpaste and your toothbrush on the vanity! Do a deep clean in every nook and cranny of the kitchen and all bathrooms using a deodorizing and disinfecting cleaner. Spend $8 on a new clear shower liner if you have a shower curtain, and keep all glass surfaces clean and streak free. Dust light fixtures and keep blinds open and window treatments drawn to allow as much light in as possible. Dirty, dingy spaces are going to turn buyers off.
• Organize behind closed doors. Buyers are nosy, and rightfully so also want to see what kind of storage your home offers. Clean out bulky and out of season clothing from closets to make them appear roomier, use white plastic hangers that are all the same in every closet for a clean look. A pack of ten runs about $3 at discount stores. Keep linens folded neatly and pantry shelves orderly. Storage rooms should have items neatly placed in containers on shelving or safely stacked.
• Tie up loose ends. Little things that you can typically ignore should now get your attention. Replace all burned out light bulbs, patch or touch up any wall damage, scrub away grime and fingerprints from walls and handrails, straighten a crooked cabinet, tighten loose hinges, etc. All of these little fixes will give buyers an overall impression that the home has been well maintained. Mr. Clean Magic Erasers will remove grime and hand prints from walls in high traffic areas, as well as any artwork your kids may have added on their own! They also remove soap scum from showers and tubs, and cost about $3 for a pack of 2.
• Keep it up! Now that your home is in tip-top shape, keep it that way! Just a few minutes of maintenance a day will keep it looking its best and prevent you from having to go back and "re-do" everything. Make a checklist and delegate jobs so that even in a pinch, you can have your home looking its best for a last minute showing. Keep a container of disinfecting wipes in each bathroom and the kitchen and do a quick swipe of all surfaces before leaving your home. A 3-pack economy priced set is around $11.
• Keep 'em guessing! The most perfectly marketed home I have ever sold gave buyers no indication of who the owners were. You could not find a single personal photo or tell-tale personal objects that said "Mr. and Mrs. Smith live here with their 2 children and golden retriever, Max." Buyers only noticed that the home was immaculately clean, well kept, updated and neutral. Needless to say, that home sold the first day on the market. Take pets with you and conceal their more unattractive paraphernalia like litter boxes, food dishes, and ratty old toys. If a non-cat lover walks into your home to find a giant litter box in the master bathroom, they are going to walk right out! Buyers should not be able to tell if you have pets, how many people live in the home, or guess your personal beliefs or interests. Political and religious items could also offend some buyers, so better to pack those up for display in your new home.

Large brokerages spend a hefty chunk of their advertising budget on weekly Open House ads in local newspapers. Open House directionals and sign riders begin to pop up mid week, and by Saturday no street corner is unadorned.

But, how effective is this traditional method? Statistics tell us that home buyers do the majority of their research and shopping online these days, so... why continue to hold Open Houses? Are we just continuing to do what we have always done, or is there a bigger reason why agents continue to devote their entire weekend to hosting Open Houses for their clients?

We want to hear from YOU! Whether you are a buyer, seller, REALTOR or broker, we value your input. Tell us your thoughts, opinions, statistics, and experiences involving the effectiveness of Open House in today's market. Just comment on this post and we'll post the results in an upcoming post.

From Cold... to SOLD! By Angie Ungs

Every year, the housing market in the Corridor area experiences a major cool down during the winter months. From Thanksgiving through Spring Break there is a lull in activity, largely due to holiday festivities and the weather. After all, who really wants to trek through three feet of snow and brave sub zero temperatures to go house hunting? Well, as it turns out... serious and smart buyers do!

As soon as the first sign of spring appears, so do the SOLD signs. Homes that have been on the market for several months through the quiet winter market suddenly sport the big red S-O-L-D all at once. Over the course of the weekend I noticed five homes go sale pending along my regular driving route to school and daycare. Four of these homes have been listed all winter, and one was just on the market for three days.

 March is a magical month in the Midwest for real estate. Home buyers start to come out of hibernation in February, which leads to an increase in the number of properties that go sale pending in March. Savvy sellers with good agents put homes on the market before the big thaw to take advantage of the serious shoppers and beat the flood of homes that will hit the market when the weather turns warm.  

This spring will be particularly interesting as home buyers respond to the federal tax credit incentives which expire at the end of April. Current home owners who have lived in their home for five years are eligible for a $6,500 tax credit for the purchase of a new home. First time buyers receive $8,000 for qualifying purchases. Purchase contracts must be finalized by April 30, 2010, and the transaction must close by June 30, 2010, in order to qualify.

I couldn't help but notice this morning (along my regular route to and from school and daycare) the increasing number of homes for sale by owner. The sellers have employed a variety of signage ranging from pre-printed generic signs from the hardware store, to hand-written ones with an illegible phone number, to those of a popular fee-based FSBO website. So I wonder... What exactly is the motivation to sell by owner? And why are there more every day?

More and more sellers are choosing to go it alone. Logic tells me that in a market as complex, and challenging as the one we are currently experiencing, that now more than ever would be the time to rely on a professional. But when finances are stretched and times are tough most sellers focus solely on saving a commission. Unfortunately, in their desperation they are often missing the big picture.

 The reality is that even with paying a Realtor's commission sellers typically come out in much better standing than selling by owner. When you have so much at stake, why risk losing it all just for the illusion of saving a little money? Hiring a professional should be seen as an investment in your peace of mind, as well as the protection of your interests and equity.

 The economic climate and barrage of negative news on housing markets from national media outlets has jaded buyers. Buyers often make the mistake of misunderstanding the difference between local markets and the national market. Our local market in the Cedar Rapids area has remained steady. Home values have been maintained, and foreclosures and short sales do not make up the majority of our MLS. But because buyers have been convinced that all sellers are desperate and have over-priced homes, sellers are more vulnerable than ever to unscrupulous buyers looking for a deal.

 The best way to sell your home and prevent an infinite number of complications is to hire a trusted professional. We understand that times are tough for many people. And we want to HELP you! Greed has no place in today's economy. Any good Realtor will work with a seller who has financial restrictions to come to an agreement that will satisfy everyone. It is in our best interest to facilitate home sales and prevent short sales and foreclosures, as this is OUR community, too.

 Is it fair to say that for sale by owners are hurting the housing market? Quite possibly. There are a number of variables involved in a real estate transaction, and when too many mistakes are made, it can begin to affect the local market. Certainly there are successful home sales by owners who have the time necessary to market a home and the knowledge or resources to take care of all of the legalities. The hardest part of an unsuccessful for sale by owner may be knowing when to turn it over to a professional. Waiting too long can put home owners is desperate situations which can lead to less than desirable results.