There are some additional hurdles for homeowners who have gone through a foreclosure, short sale or bankruptcy, but a little patience and some financial hard work will go a long way.

By Marcie Geffner of Bankrate.com

Buying a home is a challenging goal for most hopeful homeowners. But for those who have experienced a bankruptcy, foreclosure or short sale, the hurdles are even higher.

Still, it’s not impossible to buy a home after financial difficulties, says Dan Keller, a mortgage banker with Hometown Lending in Everett, Wash. In fact, Keller says, people who have cleaned up their credit and are otherwise qualified to get a mortgage can buy a home as soon as they have outlasted a prescribed waiting period after the bankruptcy, foreclosure or short sale.

Wait a while
The waiting period can last one to seven years, says Kirk Chivas, chief operating officer at First Commerce Financial in Wixom, Mich. The one-year requirement applies to buyers who complete a Chapter 13 bankruptcy, have a spotless subsequent credit history and want to get a new loan insured by the Federal Housing Administration or guaranteed by the U.S. Department of Veterans Affairs. The seven-year requirement applies to buyers who experienced a foreclosure and want to get a new conventional loan that can be sold to Fannie Mae or Freddie Mac.

In between are a number of two-, three- and four-year timelines based on similar criteria and other factors such as whether the buyer’s previous mortgage was current at the time of a short sale or the size of the buyer’s new down payment as a percentage of the home’s purchase price.

Generally speaking, the waiting periods after a bankruptcy tend to be more black and white while the waits after a foreclosure or short sale have more gray areas, Keller says. And in some cases, a waiting period can be waived or shortened if the buyer’s bankruptcy, foreclosure or short sale was due to extenuating circumstances or a hardship beyond his control.

Technically, it is possible for a buyer whose prior loan wasn’t in default at the time of a short sale to get a new FHA-insured loan with no waiting period, Chivas says. But he adds that he’s never encountered anyone in that situation.

Clean credit
Buyers must have very clean or perfect credit histories before they can buy homes after bankruptcy, foreclosure or short sale. A slip-up as small as one late credit card payment could disqualify a post-bankruptcy buyer from some loan programs, even if the waiting period has been completed, Keller says.

"Bankruptcy is a serious word," he says. "If you do it, it’s a get-out-jail-free card. But once you get out of bankruptcy, you need to be flawless in your credit. Don’t even drop a gum wrapper."

Credit dings can be difficult to sort out for buyers who experienced a loan modification or short sale, in part because, as Chivas says, there’s "no consistency" in how lenders report those events to the credit bureaus. Buyers should review their credit reports and correct any errors or clarify the circumstances of adverse items.

Stable employment can be a plus, too, Keller says, noting that some loan programs are more lenient than others. "If there was a gap," he says, "it needs to be explained."

Consult a loan pro
Given these complexities, buyers are advised to consult a loan officer or mortgage broker early on for advice that applies to their situation.

"They may think they’re fine, but if they’re not talking to a professional, their hopes can get dashed or crushed," Chivas says. "That’s why you want to speak to someone as soon as you start dreaming it up in your head" that you want to buy a home after a bankruptcy, foreclosure or short sale.

House Logic

Take a look at the most common things that can go wrong when you have guests and learn how to prevent them.

Imagine you’re preparing to host your annual holiday party, and you’re past the point of no return. The veggies and meats have been bought. Guests are already braving busy airports and crowded highways to get to your home—and then your oven won’t turn on. Your home-cooked meal has quickly turned into a microwave dinner.

That’s just one of many hosting nightmares that can end your holiday party before it even begins. Thankfully, some of the most damaging mishaps easily can be avoided. We collected five of the most prevalent issues and give you preventative tips to keep your holiday party on track.

Problem: The oven doesn’t heat

For any holiday occasion, the oven is the most important appliance in your house. If it fails to work, the centerpiece of your meal could go from roasted beef, ham, duck, or Tofurky to Peking Duck from the local Chinese takeout joint.
How to avoid:

• There are any number of reasons a stove can break, but one common cause of disaster is easy to prevent. Don’t self-clean your oven until AFTER the holidays. You risk blowing a fuse or a thermostat, and tracking down an oven technician around the holidays can be tough.

Problem: The kitchen sink clogs

The day after Thanksgiving is the busiest of the year for plumbers. The prime cause of this clog-a-thon is the mistreatment of drains when cooking holiday feasts. We hope your Thanksgiving went well, and that you avoid clog-a-thons for the rest of the holidays.

How to avoid:

• Fats and cooking oils can solidify in your pipes, so never dispose of them in your kitchen sink.

• If you have a garbage disposal, make sure it’s running before anything goes in it, and never feed it any stringy, fibrous, or starchy foods like poultry skins or potato peels.

• To fix, don’t rely on chemical drain-clearing products that can harm your pipes. Use a snake instead, available for $15 at your local hardware store. Best to keep one on hand.

Problem: The heat goes out

As the party’s host, you’re supposed to hang guests’ coats—not apologize to them for having to keep them on. A lack of heat can stop a holiday party dead in its tracks.
How to avoid:

• The key to avoiding freezing your party to a standstill is regular maintenance of your HVAC. Every 90 days, a new one-inch pleated furnace filter should be installed. If you haven’t done it in a while, now’s a good time to replace it.

• Also inspect insulation on refrigerant lines that are leading into your house. Replace them if they’re missing or damaged.

Problem: The toilet stops up

Toilets have a way of clogging up at the worst times, such as during parties and when you have overnight guests. This is especially true if you have a low-flow toilet from the early 1990s.

How to avoid:

• Don’t flush anything other than sewage and toilet paper down the toilet. And there’s nothing wrong with putting up a polite note to remind your guests to do the same.

Problem: The fridge doesn’t cool

Without a properly functioning refrigerator, your meat could get contaminated, your dairy-based treats could go sour, and you may not be able to save your yummy leftovers. To avoid discovering a warm fridge after it’s too late, take these simple precautions.

How to avoid:

• Get a thermometer for your refrigerator to make sure each shelf stays below 40 degrees and you can be aware of any temperature changes.

• Also make sure the condenser coils located on the back of the unit or beneath it are free to breathe. Coils blocked from circulating air by cereal boxes atop the fridge, or dirtied by dust or pet hair can prevent a fridge from keeping cool.

By Tara-Nicholle Nelson

With so many homes on the market, many buyers house hunt for months, even years before hitting property pay-dirt. Even for the savvy buyers who have narrowed their house hunt to an affordable price range, the condition issues so common in distressed homes can make choosing a home difficult.
And on the flip side, some subdivisions have scads of similar homes, all of which are in good shape, all listed at a similar price, making it nearly impossible to choose just one.

Here are five indicators that a particular home you’re viewing might be “The One” – the property on which you’ll want to place an offer:

1. You feel possessive about it, instantly. I once showed a less-than-fabulous home to a buyer who stepped in the front door, opened her eyes wide, and uttered in a much-quieter-than-normal voice, “I would cry.” We got a good laugh out of this later, after she found and bought a home that made her feel virtually the opposite.

Not only did the winning home bring a smile to her face, it also made her instantly possessive. She didn’t just want it - she wanted it immediately. She could barely even wait to write the offer paperwork! When another agent showed up to bring a buyer through the place while we were still there, she lingered leisurely (in hopes they would just leave) and secretly looked at them with daggers in her eyes (out of competitiveness, because in her heart, the home had already become hers).

If you walk through a place and leave wondering how quickly you can get your offer in, how much you’d offer to beat someone else out, or what you can do to lock it down quickly, it might be “The One.”

2. You start rationalizing its flaws away. Train tracks 10 feet from the bedroom window? Next door neighbor that runs a pigeon-sitting service? Okay – I exaggerate. But if you find yourself viewing a home with traits that you would normally deem undesirable or as deal-killers, yet you like the place so much that you instinctively compile a mental list of reasons those traits just don’t matter, you might have found “The One.”

Now, smart buyers should be aware of a syndrome I like to call “Pottery Barn Psychosis,” whereby the aesthetics of a wonderfully staged home with amazing curb appeal can hypnotize a buyer, rendering them blind to the negative property features, which would be glaring or grave concerns if the place weren’t so stinking cute. It’s fine to make a conscious decision that the pros of a place outweigh its cons, and even to consciously re-rank your priorities in light of a particular property’s advantages. But buyers should take steps to avoid falling victim to Pottery Barn Psychosis (and the Buyer’s Remorse that often follows suit) by writing down your absolute musts and deal-breakers before you ever step foot in a single property – and by revisiting this document before you write an offer and again before you remove your contingencies.

3. The bathroom and kitchen don’t disgust you. We humans are born with only two fears in life: the fear of falling and the fear of loud noises. By about eight months old, we start to acquire new fears, and most of us never stop. Among the first fear most people learn: the fear of other people’s kitchens and bathrooms.
I exaggerate (again!), but it is true that generally speaking, other people’s kitchens and bathrooms hold definite gross-out potential. There’s just something about what goes on in those rooms that seems exceptionally intimate and even unsanitary. So, if you happen to find yourself falling in love with a home’s river rock shower floor or drooling over the pot-filler over the stove and the built-in cookbook stand on the countertop, that’s a sign that you’re falling head over heels with a home that might just be “The One.”

4. You involuntarily envision your own family, furniture, decor, daily activities or remodeling choices into the home. They say that the best staging helps prospective buyers envision their own idealized lives taking place in the staged home. But whether or not a property is staged, if you find your mind’s eye Photoshopping a given property to insert your own kids and sofa into the living room, your dining table and favorite wall hangings into place in the dining room, and your daily meditation in the breakfast nook – or even start mentally removing walls entirely – it’s entirely possible that the home you’re in could be “The One” for you.

5. You lose interest in seeing other homes. I once took some buyers out for their first house hunt in my territory after they’d spent two years looking for homes in a neighboring area, without ever making a single offer. I’d planned to show them seven homes, but when they got to the fourth property, they declared that they’d found their home, and they neither wanted nor needed to see any more. I insisted that they finish the list, if for no other reason than to confirm their choice and to avoid feeling later that they hadn’t seen enough nearby homes to compare theirs to. They humored me and saw the last three places on the list, then promptly bought house #4 and still live there, blissfully happy, to this day.

When you find “The One,” continuing the house hunt you may have obsessed over for months, even years, starts to seem silly, like a waste of the energy you could be using to move into your new home.

Don’t forget about exterior grading, indoor air quality

By Paul Bianchina

Fall is in the air already, which means that another chilly winter can’t be too far behind. So before the cold weather arrives, here’s your annual checklist of things to do to get your home ready for the change of season.

Inside your home

Check smoke detectors: Don’t neglect that smoke detector any longer! Take some time right now to check the operation of detectors, and to change the batteries. If you have an older house with a limited number of smoke detectors, install additional ones at each sleeping room, and make sure there is one centrally located on each level of the home as well.

Install a carbon monoxide detector: As houses get closed up for winter, the chances of carbon monoxide poisoning from malfunctioning gas appliances increases substantially. If you have a furnace, fireplace, water heater, or other appliance that’s fueled by propane or natural gas, or if you have an attached garage, install a carbon monoxide detector. They’re available inexpensively from many home centers and other retailers, and offer easy, plug-in installation

Service your heating system: Perform a complete system check of your furnace annually, either by yourself or by a trained furnace technician. Check for worn belts, lubrication needs or other servicing that might be required; refer to your owner’s manual for specific suggestions, and follow any manufacturer safety instructions for shutting the power and fuel to the furnace before servicing. Check the condition of duct joints and insulation, and of course, change the filter.

Upgrade your thermostat: An older thermostat that’s a couple of degrees off can result in a lot of wasted energy, and so can forgetting to set the thermostat down at night. You can take care of both of those problems with an upgrade to a programmable thermostat. Programmable thermostats are digital and typically very accurate, and they allow for easy, set-and-forget programming of temperatures for different times of the day, including energy-saving nighttime and workday setbacks.

Outside your home

Trim trees: Trees that are overhanging your home can be a real hazard. They can deposit debris on your roof, scrape against shingles during wind storms, and, worst of all, snap off with potentially devastating results. Have a professional tree trimming service inspect the condition of overhanging tree limbs, and safely cut them back as needed.

Check the gutters: Clear the gutters of leaf and pine needle debris, and check that the opening between the gutter and the downspout is unobstructed. Look for loose joints or other structural problems with the system, and repair them as needed using pop rivets. Use a gutter sealant to seal any connections where leaks may be occurring.

Break out the caulk: A few hours and few tubes of caulking can make a big difference in both your heating bills and your comfort levels this winter. Caulk around windows, doors, pipes, exterior electrical outlets, and any other exterior penetrations where cold air might enter. Use a good grade of acrylic latex caulk, either in a paintable white or, if you don’t want to paint, use clear.

Drain sprinkler systems: In colder areas, now is the time to be thinking about having your sprinkler and irrigation systems blown out. You can rent a compressor and do this yourself, or contact a landscape or irrigation system installer and have them handle this for you. This is also the time to shut off outdoor faucets and install freeze-proof faucet covers as needed.

Adjust exterior grade: Fall is also a great time to look at the grade around your home, and make sure that everything slopes away from your foundation to avoid costly problems with ground water. Add, remove or adjust soil grades as necessary for good drainage.

Change light timers: If you have exterior lights that are controlled by timers, including low-voltage ones, check the timer settings. Change the "on" times to an earlier hour to reflect the earlier winter darkness, so that you always have adequate outside light available.

By: Laura Fisher Kaiser

"From small things, Mama, big things one day come," as the song goes. It’s especially true when it comes to your house. Left unchecked, seemingly minor things—a gutter pitched the wrong way, a bit of crumbly grout—can lead to bigger and expensive issues. The good news is that, in many cases, all it takes to head off catastrophe is a little preventive maintenance or an inexpensive repair. "Don’t wait until it’s an emergency," says TOH master carpenter Norm Abram. "Spot-check areas around your house, preferably twice a year, in the fall and spring. And when you do fix something, do it right so that you don’t end up making the problem worse."

Mildew on Foundation Walls

Potential problem: Overgrown foundation plantings can channel water down exterior walls, leading to mold and sill rot. What’s more, roots can work their way into foundation walls and pipes.
Fix it now: Trim shrubs yourself. Better yet, replace them with dwarf varieties that won’t be a perpetual pruning headache. In many parts of the country, planting in early fall gives shrubs a head start at establishing roots in the season’s cool, moist soil. Save money by shopping end-of-season sales at garden centers or hosting a neighborhood plant swap. "Just be sure that any new shrubs are at least 3 feet from the foundation," says TOH land-scape contractor Roger Cook. "Otherwise they’ll keep the siding from being able to breathe."

What you’ll save: Between $400 and $2,500 to fix a water-damaged foundation and sill.

Worn Wood Floors

Potential problem: Failing to maintain the boards’ protective top coat of polyurethane can lead to ground-in dirt and discoloration, and cause wood to dry out and splinter.
Fix it now: At the first sign of wear, sand only the floor’s surface and apply a fresh coat of polyurethane. Pros charge about $1.25 per square foot for this "screen and poly" job, or you can rent a floor-polishing machine and do it yourself for less. Just bring the machine back on time or the cost of additional days’ rental could whittle away at your savings.
What you’ll save: Up to $5 per square foot for a full-fledged refinishing, which requires sanding down to the bare wood. The overall cost depends on how old the floors are, the number of top coats needed, and if you are using stain. Replacing sections where dried-out wood has splintered or cracked starts at $125 and can go up substantially based on the scope of the damage and the floor type.

Weather-beaten Deck Boards

Potential problem: If not kept in check, soft boards and loose outer rails can lead to deck collapse. Probe cracks with a flathead screwdriver; if you can insert it more than ¼ inch or if the wood feels spongy or breaks off without splintering, you may have rot. See if the rails have any give by firmly wiggling them.
Fix it now: Pry off damaged boards. Cut replacements to length and secure them to the supporting joists below using stainless deck screws. Leave a 1/8-inch gap between any new boards for proper drainage. To hide the repairs, stain or preserve the boards to match the rest of the deck. Remedy loose rails and balusters by updating old fasteners with new screws, adding construction adhesive for extra strength. Tighten any loose bolts that secure the rails’ posts to the deck framing. Besides a few hours of your time with a saw, drill/driver, and wrench, expect to spend about 60 cents per linear foot for pressure-treated decking and $14 for a box of stainless screws, both vailable at home centers.
What you’ll save: From $500 to $10,000 for a professional to fix or replace the deck, depending on how widespread the damage is.

Peeling Exterior Paint

Potential problem: Blistering, cracking, or peeling of the protective finish can cause woodwork to rot. Particularly vulnerable are protruding surfaces where water sits, such as windowsills, which may need to be replaced if the damage is extensive.
Fix it now: Scrape, sand, prime, and repaint all trim that has a worn finish. For houses built before 1978, take special care during the paint removal phases to protect yourself, your family, and the environment from lead dust, which is toxic. The easiest way to fix any minor rot damage to the wood surface is to dig it out until you get down to a solid section, then fill the void with an epoxy before refinishing.
What you’ll save: About $135 per window for a pro to replace a sill that’s rotted beyond repair.

Split or Bowed Clapboard

Potential problem: Damaged wood can allow rainwater to make its way into the wall, leading to decay and insect damage. Rot may also spread to surrounding boards.
Fix it now: Replace the board for $100 or less, depending on the wood type. "Don’t just caulk the crack," says Norm. "That’ll get loose and invite more water to get behind the siding." For a tight fit on the first try, mark the old board’s length directly on the new one. Score the cutline using a utility knife, and slice off the overage with a handsaw.
What you’ll save: Up to $3,000 to re-side and rebuild a rotted wall, including new clapboards, sheathing, framing, and drywall inside, plus $2,000 or so for termite or carpenter ant control.

Overhanging Tree Limb

Potential problem: A storm could send large branches crashing down on the roof, and wet leaves against the siding can cause algae to grow, leading to rot. "These branches also act as a superhighway for any kind of varmint wanting to enter your house: squirrels, raccoons, and even rats," says Roger Cook.
Fix it now: Trim a small tree yourself using a pole saw, taking care to leave the branch collar to prevent disease. For bigger jobs hire a professional arborist, who’ll typically quote you a flat rate—figure $75 to $95 an hour, depending on the height of the tree and the number of branches involved. To remove algae from siding, power-wash with a solution of 1 part nontoxic oxygen bleach to 10 parts water; power washers rent for $50 to $75 a day.
What you’ll save: From $50 (for asphalt) to $395 (for slate) per 10-by-10-foot square of replacement roof shingles, plus $150 an hour for labor. Expect to pay $800 to $1,250 to replace 150 square feet of rotted yellow pine, spruce, or fir clapboards, including labor. And to trap those pesky rodents, tack on $300 more.

Gunked-up Gutters

Potential problem: "A clogged, rusted, or tilted gutter can’t do its job of keeping water from splashing back on the roof or cascading down the sides of your house," says TOH general contractor Tom Silva. This can lead to fascia and soffit rot, leaks inside the wall cavity, and framing damage.
Fix it now: Make gutter cleaning and repair part of your annual DIY fall maintenance routine. Scoop out debris. Secure any loose hanger straps, and use a level to ensure that gutters are properly slanted toward the downspouts, about ¼ inch for every 5- to 10-foot section. Then run water from a garden hose to check for leaks. Patch any holes or narrow gaps at the seams with gutter sealant; $5 for a 10-ounce tube at hardware stores.
TOH Tip: Don’t have a trowel handy? Make a gutter scoop out of a plastic milk jug. Just slice off the bottom at an angle.
What you’ll save: Easily $5,000 or more to repair rotted fascia and soffit boards, framing, and drywall. If gutters are left to rust, new seamless aluminum replacements will run you $750 to $1,000 for 150 to 200 linear feet, enough to outfit most homes.

Wobbly Stair Railing

Potential problem: A shaky newel, the vertical post that anchors the rail, is the likely culprit. One weak link like this can put undue stress on the entire balustrade and lead to an accident.
Fix it now: Insert a lag screw through the base of the post and into the staircase framing. One screw will steady most posts, but if it’s still a little wobbly, drive in a second screw. Countersink the fasteners and hide the heads with plugs cut from a 1-inch-diameter dowel. To make this repair, all you need are a few basic tools: a drill/driver, 1-inch spade bit, ratchet wrench, and handsaw.
What you’ll save: About $65 an hour for a carpenter to steady the newel and repair—or replace—snapped spindles. Then there’s what you’d save on hospital bills if anyone took a tumble.

Tired Tub Caulk and Grout

Potential problem: Puckered, missing, or shrunken caulk can allow water to seep into a wall cavity, leading to mold or even wall failure. Likewise, a chunk of missing grout in a tub surround can cause serious water damage behind the tiles.
Fix it now: Recaulking a bathtub is one of the simplest DIY projects. All you need is a $6 tube of mildew-resistant silicone. While you’re at it, touch up the grout using a premixed compound, which runs about $10 per quart. For bigger jobs, mix your own using a $12 bag of polymer-fortified grout powder. Follow the maker’s instructions to mix in just the right amount of water—too little makes grout crumbly, too much will make it cure improperly.
What you’ll save: Up to $2,500 to retile a small section, including partial demolition of the wall and new backer board. Long-neglected leaks could necessitate a $200 to $900 mold inspection, plus $2,000 to $6,000 for remediation if toxic mold is found.

Setting the bar too high may leave you with an unsold house.

By Jeff Brown of MainStreet

A new study by property website Zillow.com shows that many home sellers are unrealistically optimistic, asking considerably more than they’re likely to get. As a result, they risk long delays in finding buyers, which means a lot of lost revenue while the house sits idle on the market.

What’s more, homeowners who bought after the housing bubble peaked in 2007 were even more unrealistic than those who bought before or during the bubble, perhaps because post-bubble buyers thought they got better bargains than they actually did.

"We found sellers who bought after the housing bubble burst, in 2007 or later, price their homes 14% above market value," said Zillow, which used sales of comparable homes to figure market value. "Those who bought before the housing run-up, prior to 2002, overprice by nearly 12%. Somewhat surprisingly, sellers who bought during the run-up, from 2002-2006, seem to be the most realistic, pricing their homes 9% over market value."

Market value is a tricky number, because comparable-sales data do not always provide a good guide to a home’s value. Nearby homes that have sold in the past six months or so may be quite different from yours in appearance or condition, and there may be too few recent sales to get a proper valuation. That being said, you won’t have much chance of getting a premium price on a cookie-cutter condo if identical units have sold for less.

As a seller, you have a right to ask for whatever price you want, which you can drop if no one bites. You may get lucky, but asking too much involves a number of risks, even if you’re just "testing the market" for a few weeks or months.

On the pro side, you might get your high asking price. Selling a house is not like a dealer selling cars or McDonald’s selling Big Macs, because the home seller needs only one buyer. It’s possible that someone will find your home so perfect that it justifies a premium price. For example, a home with a garage converted into a shop may be a turnoff to most buyers because most of them have cars, but a nondriving tinkerer may love the extra work space.

More often, though, pricing your home too high works against you in some important ways. Here are three of them:

1. Agents react. Real-estate agents — yours and the buyers’ — may not want to waste time with a home that’s unlikely to sell. Though a higher price means a bigger commission, agents might figure they can move two or three homes in the time it would take to sell yours, earning more even if each offers a smaller commission than your property does.

2. Buyers react. Buyers who like your house but pass on your property because of the price may find something else and close a deal before you drop your asking price to a level they’d accept.

3. You need that money. Even if you get your full asking price, the time it takes to get it may cause you to miss out on the house you want to buy. You may have to settle for something that’s not as suitable. Even worse, you may end up spending more than you had planned, offsetting the premium you got on your sale.

Setting a proper sale price is both an art and a science. A key step is to shop carefully for an agent who can help you, looking for one who is very familiar with your community and comes with good references. Steer clear of dabblers who sell only a few homes a year. You want a pro who is on top of the market and will value a good reference from you.

Drive around to look at the "comparable" homes used to set your asking price, and look for others if necessary. If you’re on a hill, don’t use a comparison from a home down in the less desirable floodplain. Make sure the house’s curb appeal matches yours. Keep in mind that a computer that spits out comparable sales isn’t likely to know that your home has a new kitchen and the others don’t.

Finally, keep an eye on the "traffic" - the number of potential buyers who come through your property. A good agent will have a sense of how many buyers are looking. If you are not getting your share, it’s a sign you are reaching on price. If dropping your price is inevitable, it’s better to do it sooner than later.

If you’re selling a home this fall, make the most of the season with these seven ideas for sprucing up your home’s exterior.

By Shannon Petrie, FrontDoor.com |

Spruce Up the Lawn

While brilliant fall foliage can automatically make your home look more attractive for showings, that doesn’t mean you can slack off on lawn maintenance during this season. Keep falling leaves at bay with frequent raking and patch up any brown spots in the grass.

Add Fall Flowers

Once your lawn is looking its best, spice it up with a splash of color. As your summer plants start to fade, replace them with vibrant mums or other colorful flowers.

Highlight the Front Door

Making your front door the focal point of your home’s exterior is a good tactic no matter what time of year you decide to sell your home. During the fall, a simple wreath of fall foliage and flowers can add an inviting touch. A fresh coat of paint in a vivid red can also make your entrance stand out.

Address Your Home’s Exterior

When fall rolls around and the trees shed their leaves, your home becomes more exposed, making its exterior appearance extra important. Before putting your home on the market, pressure wash the exterior and clean the windows. If the paint is chipped or faded, applying a fresh coat will do wonders to revive your home’s appearance.

Clean the Gutters

Staying on top of yearly and monthly maintenance lets buyers know you care about your home’s upkeep. During the fall, be sure to clear your gutters and downspouts of leaves and other debris, which will protect your home from water damage.

Light It Up

As the days get shorter, it becomes increasingly important to provide potential homebuyers with a safe path to your front door. Use decorative lights to illuminate walkways, and install flood lights or lanterns to brighten up entrance areas.

Keep It Simple

While subtle fall decor — a wreath on the door or pots of seasonal flowers — will make your home look inviting and fresh, going overboard will distract buyers from your home itself. Save your scarecrows and spooky Halloween decorations for another year.

Tara Nelson

In most parts of the country, the housing market is good (or great!) for buyers right now - interest rates are bizarrely low, lots of inventory means lots to choose from, and the cost of renting has increased in a lot of markets. But just because the market’s good doesn’t mean it’s the right time for everyone to buy. The decision whether to buy a home is a very personal one; you need to carefully examine your own situation to determine whether it’s right for you.

So, what are the questions you need to answer in deciding whether you’re ready to buy? Here are some of the big ones:

1. Do I have enough money for a down payment?
And how much, exactly, is “enough?” Today’s minimum down payment requirements range from 3.5 percent on an FHA loan to 10 or even 20 percent for conventional loans. That means coming up with anywhere from $7,000 to $40,000 on a typical $200,000 house. While there are still programs that can give you a down payment assist (see last week’s post, 5 Insider Secrets for Coming Up With Cash for Down Payment), much of the heavy lifting here will need to come from you - in the form of saving up your hard earned cash. And keep in mind there are also closing costs you’ll probably have to pay in cash, which can run as high as 3-4% of your total purchase price.

Talk with a real estate pro and a mortgage broker in your areas to start wrapping your head around how much “cash to close” (i.e., down payment + closing costs) will run, approximately, on a local property that would meet your needs. Can your savings cover this? If not, where will you get the money - what’s your plan for coming up with it? Putting down as much as you can a) makes you more attractive to lenders, so you might qualify you for better loan terms and b) gives you additional purchasing power, either decreasing your monthly mortgage payment or increasing your purchase price limit for a home.

2. Can I handle the not-so-glamorous aspects of homeownership?
If you can’t even fathom the prospect of having a home maintenance crisis without having a landlord to call to fix it, you might want to reconsider homeownership - or at the very least, buy a lower maintenance condo or townhome in great condition, and make sure you get a home warranty! As a home owner, after all, you essentially are your own landlord. Pipe bursts in the middle of the night? Guess who’ll be up fixing it or calling (and paying) the plumber? (Hint: you.)

There are also some less-than-glamorous bills you’ll have to deal with in your new role as a homeowner that you never laid eyes on as a renter: property taxes and hazard insurance, to name two. When you go from renter to owner, you also need to account for the cost of appliances and maintaining the property’s roof, windows, and landscaping, among other things.

3. How long do I intend to stay in the house?
If you think you might move out of the area next year, then you really shouldn’t be thinking about buying a house (unless of course, you want to play landlord and rent it out after you leave - a prospect which requires its own risk/rewards analysis). For your home purchase to pencil out as a good deal, financially, you’ll shouldn’t buy unless you’re comfortable staying in the house at least 5-7 years - even longer, if you’re buying a home in a foreclosure hot spot or an area with a sluggish job market.. This gives you some time to build up equity and make up for the costs of buying, selling and moving.

4. Are my job and finances stable?
Maybe you just went through a major career change and are in the process of working your way back up from the top. Or maybe you work in a field that has been hit really hard by layoffs and cutbacks. The worst case scenario is to find yourself in a spot with mortgage payment you have no way to make, when you could have avoided that by seeing the writing on the wall. If you feel like there’s a real chance you could lose your job or income tomorrow, you may want to hold off on buying a house - that has the added bonus of giving you the geographic freedom to move, if needed, to get a new job.

Is there really such a thing as 100 percent job security in today’s economy? Probably not. But the best practice is to be confident that your finances could handle a temporary loss of income and still make your mortgage payments, before you buy. One way to do this is to have enough money in the bank to cover 4-6 months’ worth of living expenses, calculating them to include your mortgage payment - before you deem yourself ready to buy. That way, even if you lose your job with no warning at all, you’ll at least have a reasonable window of time to find a new one without digging yourself into a hole - or worse, losing your home altogether.

5. What are my real reasons for buying?
Buying a home is a long-term commitment that will have massive impacts on your lifestyle, your family and your finances. In other words, don’t do it unless you’re really sure you want to and are ready for the lifestyle change - don’t let someone else talk you into it. Worthy reasons renters with homeowning readiness give for their decision to buy include some or all of the following:

· You want to build equity instead of paying a landlord. Fact is, if you get a fixed rate mortgage and make the payments for the full term of the loan, you’ll eventually pay it off. That’s not possible when you’re renting.

· You want a place to call your own, where you can paint a wall purple, add a pottery spinning studio or build your dogs an obstacle course (oops - that’s my reason for homeownership!), because it’s your prerogative.

· You want the tax advantages of homeownership.

· You want a stable place you and your family can live for as long as you’d like.

Ask yourself these questions, and be honest with your answers. If you really want to buy, but your answers to these questions today don’t weigh in that direction, it doesn’t mean you’ll never own a home. It’s usually just a matter of strategically timing your purchase out a year or two when your savings, your career and your lifestyle are in alignment with the implications of ownership - consider working closely with a real estate broker and a mortgage professional to get an action plan in place and start working that plan.

Sponsored By Move Inc

How to prepare for a seamless transition

If you’re moving this summer, the busiest season for moving, you know how daunting it can be. But if you create a blueprint for your move, the transition from house to house will go more smoothly.

Here are 10 things you can do to prepare for a seamless transition.

1. Full serve, partial serve or a do-it-yourself move. Can you do it alone or should you hire a licensed moving company for a full-service or partial-service move? This is one of the first and often most difficult questions soon-to-be moving households face. The answer depends on your lifestyle, household size, budget and amount of time you have to get everything accomplished. Get written quotes from at least three licensed moving companies so you know you’re getting the best deal based on your specific moving needs. Moving yourself or doing a partial-service move? Packing calculators can make it easier to estimate the amount of boxes and packing materials needed.

2. Plan to unpack BEFORE you pack. Take photos of each room in the new home before you arrive with furniture, plants, appliances and family in tow. Write down on a clip board where each item should go in your next home before packing, and carry it with you on moving day. List out the major items that need to be assembled first. As you place each item in its new room, cross it off the list and you will be one step closer to enjoying your new home.

3. Be strategic about packing. If you have more than a month to ‘pick up and move’, start early. Complete a free change of address and schedule utilities ahead of time at Moving.com. Start packing early. Whether it’s one room, one cabinet or a drawer at a time, weed through what may be years of accumulation. As you’re going through your belongings, divide everything into these helpful categories: donate to charity, give to a friend, recycle, trash, pack now, or keep handy until moving day. You’ll be surprised at how much you can donate, recycle or give to friends. And, you’ll not be overwhelmed with the task at hand three days before you move.

4. Moving is NOT child’s play. Plan ahead. Consider daycare on moving day, or get help from a friend or family member. Provide lunch or some other appropriate thank you gesture if you do call in a favor. If that’s not an option, prioritize setting up safe places for your children to play in the new home on moving day so they’re not underfoot. This will help everyone remain happy and calm on moving day.

5. Don’t fight with Fido. Sometimes we forget that all the packing and constant in-and-out of visitors is stressful for animals. Consider checking your pet into a daycare facility, or setting up a time for a friend to take them or check them into petday care. Don’t let your four-legged best friends get lost in the shuffle and remember to make day-of moving arrangements.

6. Keep track of small parts. Some items need to be broken down into pieces when moving, but do you know what to do with the small screws and washers that you end up with? Rather than tape them to the furniture, which can result in losing them, put everything in a baggie that is clearly marked and sealed. Keep all of the separate baggies together in one box on moving day and personally take it with you to your new home.

7. Take pictures of electronic hook-ups. Hooking up TVs, DVRs, home theater systems and computers can be challenging. Before unplugging any wires for the move, take a photo of the connections, print them out and label them in detail. This will create fewer headaches when setting up technology in the new home. Keep track of all loose wires using baggies or boxes that are clearly labeled, and personally carry these easy-to-lose items on moving day.

8. Packing cleaning products and toxins. Products such as detergents, pesticides and paint are heavy and unwieldy to pack. Dispose of as many as possible before the move in an eco-friendly way. Call your city’s waste disposal department for guidance on proper disposal. For items that must be transported, pack them in a small box within a larger box for protection against leaks. Don’t overstuff boxes with these items! Consider marking these boxes in a different color, and seal them extra tight. Keep them separate from the rest of the boxes, particularly if you have kids and pets.

9. Consider getting full value insurance protection. If using a professional mover, it may cost a few dollars extra, but it provides peace of mind and eliminates later annoyances. Investing in full value protection means any lost or damaged articles will be repaired or replaced, or a cash settlement will be made at current market value, regardless of age. It’s important to note that the required minimum coverage of 60 cents per pound would not cover the replacement cost of more expensive items such as a flat screen TV if damaged in transit.

10. Know your rights. If using a professional mover, research your rights as a consumer with either the Federal Motor Carrier Safety Administration (FMCSA) for interstate moves or contact the state agency within the state in which you reside for moves within state. Also, enlist the help of the Better Business Bureau (BBB) or local law enforcement if the moving company fails to live up to its promises or threatens to hold your belongings hostage. FMCSA requires interstate movers to offer arbitration to help settle disputed claims.

By Tara-Nicholle Nelson

Most home buyers feel like they are bona fide real estate experts after all the studying up on loans and neighborhoods, online house hunting and open house visiting it takes just to get into contract on a home these days. But for all but the most handy of house hunters, getting into contract and starting the home inspection process only surfaces how little you actually know about the nuts and bolts and brick and mortar of the massive investment you’re about to make: a home!

So, you hire a home inspector, but it seems like they’re speaking an entirely different language - riddled with terms like “serviceable condition” and “conducive to deterioration” - about your dream home! Here are 5 questions you can use to decode your home inspector’s findings into knowledge you can use to make smart decisions as a homebuyer - and homeowner.

1. How bad is it - really? The best home inspectors are pretty even keeled, emotionally speaking. They’re not alarmists that blow little things up into big ones, nor do they try to play down the importance of things. They’re all about the facts. But sometimes, that straightforwardness makes it hard for you, the home’s buyer, to understand what’s a big deal and what isn’t so much - the information you need to know whether to move forward with the deal, whether to renegotiate and what to plan ahead for.

I’ve seen things categorized in home inspection reports under “Health and Safety Hazards” that cost less than $100 to fix, like replacing a faucet that has hot and cold reversed. And I’ve seen one-liners in inspection reports, like “extensive earth-to-wood contact” result, after further inspection, in foundation repair bids pricier than the whole cost of the home!

In many states, home inspectors are not legally able to provide you with a repair bid, but if you attend the inspection and simply ask them whether or not something they say needs fixing is a big deal, nine times out of ten they will verbally give you the information you need to understand the degree to which the issue is a serious problem (or not).

2. Who should I have fix that? I always ask this question of home inspectors, with dual motives. First, very often, the inspector’s response is - “What do you mean? You don’t need to pay someone to fix that. Go down to Home Depot, pick up a ___fill in the blank__, and here’s how you pop it in. Should cost you $15 - tops.” And that’s useful information to know - it eliminates the horror of a laundry list of repairs and maintenance items at the end of an inspection report to know that a number of them are really DIY-type maintenance items. Even buyers who are really uncomfortable doing these things themselves then feel empowered to either (a) watch a few YouTube vids that show them how it’s done, or (b) hire a handyperson to do these small fixes, knowing they shouldn’t be too terribly costly.

And even on the larger repairs, your home inspector might be able to give you a few referrals to the plumbers, electricians or roofers you’ll need to get bids from during your contingency period, which you may be able to use to negotiate with your home’s seller, and to get the work done after you own the place. Dropping the inspector’s name might get you an appointment booked with the urgency you need it order to get your repair bids and estimates in hand before your contingency or objection period expires.

And same goes for any further inspections they recommend - if neither you nor your agent knows a specialist, ask the general home inspector for a few referrals.

3. If this was your house, what would you fix, and when? Your home inspector’s job is to point out everything, within the scope of the inspection, that might need repair, replacement, maintenance or further inspection - or seems like it might be on its last leg. But they also tend to be experienced enough with homes to know that no home is perfect. Many times, I’ve asked this question about an item the inspector described as “at the end of its serviceable lifetime” and had them say, “I wouldn’t do a thing to it. Just know that it could break in the next 5 months, or in the next 5 years. And keep your home warranty in effect, because that should cover it when it does break.”

This question positions your home inspector to help you:

· understand what does and doesn’t need to be repaired,

· prioritize the work you plan to do to your home (and budget or negotiate with the seller accordingly),

· get used to the constant maintenance that is part and parcel of homeownership, and

· understand the importance of having a home warranty plan.

4. Can you point that out to me? Often, when you attend the home inspection, you’ll be multi-tasking, taking pictures of the interior, measuring for drapes or furniture, even meeting the neighbors, or fielding several inspectors at a time. Worst case scenario is to get home, open up the inspector’s report and have no clue whatsoever what he or she was referring to when they called out the wax ring that needs replacement or the temperature-pressure release valve that is improperly installed.

Your best bet is to, at the end of the inspection and while you’re all still in the property, just ask the inspector to take 10 or 15 minutes and walk you through the place, pointing out all the items they’ve noted need repair, maintenance or further inspection. When you get the report, then, you’ll know what and where the various items belong. (One more best practice is to choose an inspector who takes digital pictures and inserts them into their reports!)

5. Can you show me how to work that? Many home inspectors are delighted to show you how to operate various mechanical or other systems in your home, and will walk you through the steps of operating everything from your thermostat, to your water heater, to your stove and dishwasher - and especially the emergency shutoffs for your gas, water and electrical utilities. This one single item is such a time and stress saver it alone is worth the lost income of missing a day of work to attend your inspections.