Ideally, the seller should not be present at their open house. Other effective open house tips include: invite the neighborhood; use well-positioned signs to attract potential buyers; offer comprehensive fact sheets and brochures; maximize the curb appeal of the home; show a clean home with no clutter; bake cookies or light a scented candle before the open house; allow the sun to shine in.

A home warranty covers repair and replacement costs for appliances and other home systems that break down during a covered period. A home warranty can protect a homebuyer from any potential problems after the purchase. Home warranties were introduced in the early 1970s as a result of numerous lawsuits stemming from home sales. California leads the nation in the number of home warranties.

“Stagers” are designers who conduct home makeovers. They rearrange furniture, de-clutter, buy accessories, install light fixtures, and repaint walls, with the goal of showing potential buyers a home that is tasteful and impersonal enough to allow them “to mentally move in.” A recent study in San Francisco recorded staged homes on the market for an average of 25 days versus 48 days for all sales.

A biweekly mortgage requires a loan payment every two weeks. The end year result is one extra monthly payment toward the loan principal. Consequently, the loan amortizes faster than a loan with normal monthly payments. For example, a thirty-year fixed rate loan with biweekly payment terms will be paid off in approximately 22.7 years.

Remove screens from windows and install storm windows

Clean out gutters and downspouts Insulate pipes in your home’s crawl spaces and attic

Store firewood at least 30 feet away from your home

Familiarize responsible family members with the gas main valve and other appliance valves

Clean the clothes dryer exhaust duct, damper and space under the dryer

Make sure all electrical holiday decorations have tight connections

Check the attic for adequate ventilation

Clean the kitchen exhaust hood and air filter

Check the water hoses on the clothes washer, refrigerator icemaker and dishwasher for cracks and bubbles

According to the U.S. Census, 47% of householders in the U.S. owned their homes at the beginning of the 20th century. By the 1940s, the homeownership rate declined to 44%. Post World War II population and economic growth coupled with better mortgage lending methods produced steady increases in homeownership. By the beginning of the 21st century, nearly 67% of householders were homeowners.

Todd Kreps, Realtor/Broker/ABR     704.564.6941     ToddKreps@StonePropertiesNC.com 

Serving all your Greater Lake Norman real estate needs!

President Ronald Reagan signed the Tax Reform Act of 1986 into law. The act simplified the income tax code, broadened the tax base and eliminated many tax shelters. It also increased incentives favoring homeowners. The home mortgage interest deduction was increased while other tax adjustments were made to favor homeowners versus renters.

Traditional shopping malls are giving way to lifestyle centers. Lifestyle centers are outdoor shopping centers with plazas, fountains and pedestrian streets. According to a recent report by the International Council of Shopping Centers, less than five new traditional shopping malls have opened since 2006. During the same period, more than sixty lifestyle centers have opened for business.

Comprehensive Loss Underwriting Exchange (CLUE) reports check insurance claim history for a property. Traditionally used by insurers, CLUE reports are playing an increasingly important role in real estate transactions. Many buyers now stipulate a CLUE report on the home be included with the real estate contract. Some state legislatures are considering making this a requirement for all real estate transaction.

According to the EPA, various forms of mold are found in up to 50% of all structures. Mold is a biological pollutant that grows in moist conditions and is considered a serious health hazard. Real estate home inspectors are increasingly on the lookout for mold before closing a home sale. Like most remedies, mold prevention is much less costly than mitigation.