West Palm Beach Short Sale HelperIs there potential for a homeowner with a flawless mortgage payment history to get approved for a short sale? All are aware that short sale, an alternative to foreclosure, in Jupiter Florida, is a practicable opinion among defaulting homeowners. But for the ones who have kept their home loan payments, is there a way for them to give up their loan without having to go on default?

Generally, the answer to this question is yes! Mortgage lenders want to work with borrowers whose payment records are amazing and are attempting to apply for a short sale. In recent years, an increasing number of borrowers who are up to date with their mortgage payments have applied for a short sale on their homes. The majority of these cases are even approved by lenders immediately.

There are various accounts as of why borrowers with no late payments would be for short sale. There are homeowners who feel that residential property is underwater while some feel that the appraised value of their homes has greatly decreased a few years after its purchase. There are responsible homeowners who believe that they should be given the chance to short sale on their property in Jupiter, FL as it is the best financial decision to make. Borrowers who are on track with their mortgage payments may have the means to pay for their mortgage today, but see potential issues that may affect their ability to pay on time in the future. This is what the real-estate market calls as imminent default.

The reasons mentioned above may not be enough for lenders to approve a short sale for good paying homeowners. The reason for requesting a short sale should be critical and valid for mortgage companies to even consider you for loan modification alternatives.

Listed below are valid reasons from good paying homeowners who were approved a short sale:

. Job Relocation

Homeowners who need to walk away from their homes because of job relocation are provided a chance to short sale their primary residence. Since keeping two homes in two different locations almost and always leads to distress, lenders will most likely agree to a short sale instead.

. Loss of employment

There are unemployed homeowners who are still able to make mortgage payments on time. However, they may only be pulling their money from personal savings and not from income. At some point in time, they will lose enough financial resources to cover mortgage. Some borrowers in Jupiter do not wait for their resources to go to waste before they request for a short sale. Since default is already at hand, a mortgage lender will grant a short sale to borrowers with great mortgage payment history.

. Loss of employment or decreased income

Many homeowners are experiencing financial difficulties because of hard economic times. Reduction in working hours, reduced income, or getting laid off from work are common reasons why good paying borrowers in Jupiter are requesting for a short sale proceeding to ensure. As opposed to anticipating for these unlucky conditions to occur, homeowners who anticipate considerable losses will usually talk about the short sale process to their respective lenders.

.Divorce

Divorce always results to one of the former spouses moving out of the home. A single parent who needs to solely manage the finances and pay for children needs will sooner or later face financial difficulties in the long run. As a substitute to foreclosure, a homeowner may choose to short sale on the property to avoid late charges and delinquency fees.

Why will Mortgage Lenders approve of Short Sales among Good-Paying Borrowers?

West Palm Beach Short Sale HelperShort sales get approved when a bank or mortgage company realizes that it is a better financial decision not to pursue a foreclosure. Short sale is a greater alternative to mortgage lenders if their losses are kept to a minimum. In addition, foreclosure proceedings in Jupiter usually have a longer process when it comes to furnishing and completing. This means that foreclosure affiliated costs are larger; more complicated, and time consuming. Instead of dealing with all the hassles and troubles that are involved with foreclosure, lenders will simply approve of a short sale right away. Short sales are easier to complete and are less expensive to service as well.

Imminent Default Requirements

.A homeowner is up to date on his or her mortgage payments

. Proof of burden-documentations that can display expected financial hardships in the future

.A homeowner is for less than 30 days on his or her mortgage loan

.Financial worksheets

. Hardship letter

. Statement of account that can verify current and potential financial difficulties

. Income tax return

. Disclosure of assets

The greatest advantage to short selling a property despite being current on mortgage payments is the fact that these sellers will only have to wait for a shorter period of time before applying for a home loan in the future. In addition, the FICO score only lowers by a couple of notches, making it relatively easy for homeowners to get right back on track after a year or so. Depending on how an individual manages his or her finances, re-establishment of credit can be accomplished a year after closing.

There are also some drawbacks for homeowners who decide to short sale despite their stellar payment history. For cases where being in financial distress is not the primary account as of why to apply for short sale, borrowers in Jupiter generally are required to contribute cash to the lender at closing. The lender will request a promissory not to be signed upon short sale approval. Finally, lenders will have due rights to collect for deficiency judgment after closing of a short sale. It is because of these factors that borrowers with good payment history should evaluate if the benefits outweigh the drawbacks when asking for a short sale on their respective homes.

West Palm Beach Short Sale HelperWhether you are the homeowner who has kept a clean mortgage record with your lender or you are the homeowner who has found themselves in a hardship, contact one of our highly experienced short sale experts and let us assist you in avoiding debt and move into the right direction of your future.

 

**Rodney Forbes is a Realtor® and registered broker with Forbes Realty of South Florida, based in West Palm Beach Florida. Rodney and his team work in Palm Beach, Broward, Martin and St. Lucie Counties. As a recognized expert on short sales, Rodney has been featured on radio and national web conferences for agents. Rodney has also authored the book “Should I Short Sale My Home?”

Forbes Realty of South Florida also specializes in REO asset disposition. Rodney works with several banks and asset managers in the Palm Beach County area. Rodney is the main author for the popular real estate blog South Florida Real Estate Report. You can find a wealth of information regarding bank foreclosures, short sales, real estate news and local real estate trends.

For more information, please call Rodney at 561-337-4810 or email Rodney@ForbesRealtyOnline.com

{ 0 comments }

Foreclosure Alternatives in Palm Beach Gardens Florida

by Rodney Forbes on September 26, 2012

West Palm Beach Short Sale RealtorVarious homeowners have been facing ugly foreclosures ever since the real estate meltdown. Generally, a foreclosure means the possibility of losing one’s home, and one of the things in this sad truth in Palm Beach Gardens, Florida is the ongoing economic slump that has resulted in massive unemployment rates. In addition to this is the rise in the mortgage loan payments or an increase in expenses due to unexpected costs and expenditures.

For those who are going to deal with the certainty of a foreclosure, their fundamental concern is how to refrain from this ugly circumstance. And for them, help in any way is the best solution to their financial situation.

Below are the five ways to avoid a foreclosure, which any homeowner can choose so that they don’t lose their home completely without something in return.

Mortgage Relief

The first option to avoiding a foreclosure is a mortgage relief. If the homeowner is positive that he can’t pay the mortgage on time, this should be carried on to the lender for quick solution. For instance, the lender may agree to expand the period of time that they would normally foreclose a home. Typically, lenders in Palm Beach Gardens, FL provide homeowners three months before they would foreclose a home yet by talking to the lender, a homeowner may be given a mortgage relief and thus, extend the time frame before the house is foreclosed; perhaps more than the usual three months.

The drawback to this option in avoiding a foreclosure is that the homeowner is merely delaying the foreclosure of his house. If their financial situation is the same throughout the extension the lender gives them, the certainty of losing their house to a foreclosure will eventually come to pass.

Loan Modification

Following in the five ways to avoid a foreclosure is loan modification. Even though the main goal of this option is to modify the loan in Palm Beach Gardens so that the unpaid amortizations are cleared off and merge them with the principal, a homeowner may ask for a change in terms of his mortgage, rate type (from fixed to adjustable or vice versa), and interest rate as well.

Nevertheless, this option may only be available for homeowners who have good credit score, steady income, and only one to three months late with their payments. If these requirements are met, one can just call his bank (current mortgage holder) and ask for a loan modification.

The only setback to this method in avoiding foreclosure is the usual homeowners’ inability of juggling different types of credits and debts; a situation where most homeowners facing foreclosure are in.

Refinance

Another way to avoid foreclosure is going through the traditional refinance method. Usually this option is for homeowners in Palm Beach Gardens who would like to take advantage of lower market rates and who are updated with their monthly amortization. Yet, many lenders are now accepting refinancing for homes facing a foreclosure, provided that the homeowner meets several requirements.

West Palm Beach Short Sale RealtorA worried homeowner can make the most of a refinance by going to another or different lender. This new lender will then be the one who will bear the existing home loan and change it into another/new home loan. In conclusion, the homeowner will carry a new loan with different terms and one where the monthly amortizations are just about to begin.

One of the benefits to this alternative in avoiding a foreclosure is that the homeowner can take advantage of a lower interest rate if current market rates are low. Moreover, this may also grant the owner the chance for term adjustment; an originally shorter term loan of 15 years can be changed into a long term loan of 30 years.

Usually, the requirement that a homeowner should meet in order to utilize a refinancing is a substantial equity on the property.

Forbearance

If the ugly truth of a foreclosure is ahead, one of the five ways to avoid a foreclosure is by searching for forbearance from the lender. In forbearance, the lender will be able to stop or reduce the amount of payments that comes due every month so the homeowner can bring his financial health back.

The advantage of this option in avoiding a foreclosure is that during the time the forbearance is in effect, the homeowner can use his money to clear off other bills or debts. This will also provide the homeowner the chance to pursue a better high-paying job so he can resume paying the mortgage.

In a cursory look, it appears to be that the homeowner is free from paying his mortgage; forbearance does not flow like this. The homeowner may be free from paying his loan for some time but he still is responsible for paying the unpaid amortizations plus interest as soon as the forbearance is over.

Short Sale

When all options to avoid a foreclosure have been considered and given thought and yet, a foreclosure is still sure to happen, the last resort and option for the homeowner to do is to go for the short sale option. In this alternative, the bank in Palm Beach Gardens or lender will rather allow you to sell your house for less than what you owe them as rather than dealing with foreclosure procedures themselves. The distinction between the selling price and the loan amount is the reason why it is named “short” sale.

In the government-sponsored short-sale alternative under Home Affordable Foreclosure Alternatives, homeowners are subsidized up to $ 3,000 for relocation by the government. However, you must meet the requirements set by HAFA to apply for this subsidy.

West Palm Beach Short Sale RealtorIn conclusion, these are the five methods to avoiding a foreclosure. Every choice presented here has its own ups and downs. And the best way to sort these out and choose the best option is for the homeowner to consider his situation/overall financial standing and see which of these five ways to avoiding foreclosure meets his needs most.

**Rodney Forbes is a Realtor® and registered broker with Forbes Realty of South Florida, based in West Palm Beach Florida. Rodney and his team work in Palm Beach, Broward, Martin and St. Lucie Counties. As a recognized expert on short sales, Rodney has been featured on radio and national web conferences for agents. Rodney has also authored the book “Should I Short Sale My Home?”

Forbes Realty of South Florida also specializes in REO asset disposition. Rodney works with several banks and asset managers in the Palm Beach County area. Rodney is the main author for the popular real estate blog South Florida Real Estate Report. You can find a wealth of information regarding bank foreclosures, short sales, real estate news and local real estate trends.

For more information, please call Rodney at 561-337-4810 or email Rodney@ForbesRealtyOnline.com

{ 0 comments }

Palm Beach Gardens Florida Short Sale Steps

by Rodney Forbes on September 26, 2012

West Palm Beach Short Sale RealtorFor both buyers and sellers, the steps to a short sale may seem to be blurry and complicated. Buyers may be discouraged with the drawn out short sale approval method, while sellers may understand in Palm Beach Gardens, Florida that their lack of knowledge surrounding real estate short sales can be nerve-racking and concerning as they think over the financial and legal consequences of the process.

While the short sale process may be difficult and full of potential complications, for a realtor who has a feel for and is familiar with the short sale process, it will be fairly habitual. An experienced short sale specialist is able to assist you through a successful short sale and lend advice, guidance and support along the way.

Real Estate Short Sale Process – Step By Step

Here below are some of the steps you will walk through with your short sale specialist so that you will be sure of a successful short sale and a fresh start for you and your family. While the specifics and documentation required may vary a bit from lender-to-lender or state-to-state, the general short sale process will be the same.

1. Find a Qualified Real Estate Short Sale Specialist

In the current market, there are many listing specialists who – while they may be excellent realtors – simply do not have the experience to successfully initiate a short sale. There are many bumps and hairpin turns on the road to a successful short sale, and many things can go downhill in the process. You’ll want to have a knowledgeable short sale realtor who can help you direct this difficult road.

Be sure that when you’re looking for a short sale Realtor, you analyze their previous track record and experience with short sales. You’ll want an experienced short sale realtor that has successfully helped many homeowners through the short sale process, and who can achieve the same results for you.

2. Prepare a Short Sale Hardship Letter

In order to get your lender to release their lien on your home and permit a short sale, you must create a hardship letter giving reasons as to why you need a short sale. The more heart-breaking and challenging your situation is, the better your hardship letter will sound. Banks are also much more favorable towards in West Palm Beach homeowners who are in a financial bind due to external or personal situations such as loss of employment, medical emergencies or illness, divorce, death, bankruptcy. Your short sale expert may assist you with the specific content on your short sale hardship letter.

3. Prepare a Short Sale Package

West Palm Beach Short Sale RealtorThere are three essential basics that must be met for a bank or mortgage lender to grant a short sale: the seller must provide hardship, the seller must also display evidence that the fair market value of the home is lower than the mortgage, and the seller must show that they are unable of meeting their debt obligations. In order to prove the latter, the homeowner will need to put together a short sale package for submission to their lender.

Each lender’s submission requirements may differ, but they are generally searching for proof that the homeowner isn’t capable to honor their debt. It is important to seek after the help of an experienced short sale realtor in preparing your short sale package, but the basic contents of your short sale package will typically consist of the following:

. Your hardship letter for short sale

. Completed financial statement

. 2 years of your W-2s

. 2 years of your annual tax return

. List of recent comparable sales or comparative market analysis – In order to give proof that your home will not sell for a sufficient amount to cover your mortgage, you will need to substantiate this fact with a comparative market analysis. Your real estate agent will prep this for you.

. Letter of authorization – this document permits your lender to disclose information to and work with your short sale specialist, lawyers, or other 3rd parties involved in helping you with your short sale. Your letter of authorization will involve your loan reference number, your full name, the date, your agent/lawyer’s name as well as contact.

. Recent bank statements

4. Put Your Home on the Market

You’ll sign a listing agreement with your short sale agent, though it will be subject to short sale approval from your lender. Your realtor will then put your home on the market and solicit buyer offers as they would with a normal listing.

5. Accept an Offer

West Palm Beach Short Sale RealtorYou’ll accept an offer that is close to or at fair market value. The lender will not approve a short sale if the offer is substantially lower than the market value.

6. Submit Buyer’s Preapproval Letter, Earnest Money Deposit, and Seller’s Short Sale Package to Lender for Short Sale Approval

As soon as you have accepted the proposal, your short sale realtor will submit the buyer’s preapproval letter, their earnest money check, as well as the short sale package you and your realtor have prepared to the lender. At this stage, most lenders have an internal process for managing short sale approvals, and a loss mitigator will be appointed to your file. It may take anywhere from a few weeks to many months for your short sale to be accepted or rejected.

This is another part of the process where it’s important to obtain a short sale specialist that will work for you. A knowledgeable short sale realtor who has experience in short sale negotiations is far more capable of getting  your short sale approved in Palm Beach Gardens, FL and obtains forgiveness for the deficiency. An experienced short sale negotiator is also more likely to get a short sale approval more quickly by consistently following up with your lender and pushing the process forward.

7. Receive Short Sale Approval

If your short sale is approved, the bank will send a short sale approval letter. By this point, you may have been waiting a few weeks or perhaps even up to half a year for a short sale approval. The length of the short sale approval process will depend primarily on the lender, though in some instances your short sale negotiator may delay or speed up the process.

8. Deal closes & Lender Releases Lien

The buyer will deliver the funds, the seller will deliver the deed, and the lender will release their lien on the property. Depending on the short sale agreement negotiated by your short sale negotiator/short sale realtor, you may now be relieved of your debt responsibility. Rather, it is possible that you didn’t qualify for debt forgiveness and you will still be held accountable for the deficiency between the proceeds of sale and your initial debt.

West Palm Beach Short Sale RealtorWhile it is not always possible to receive forgiveness of the deficiency in every short sale, yet this is another account as of why you’ll want to work with a short sale expert rather than just any listing agent. A realtor with experience in short sale negotiations ensures that you have the best potential at obtaining full forgiveness of your debt. Experienced short sale realtors in Palm Beach Gardens have much knowledge in working with loss mitigations in negotiating forgiveness of short sale deficiencies and can do the same for you. With the right expert and handling, your short sale might just be your solution to a fresh start, so be sure it’s in the right hands.

**Rodney Forbes is a Realtor® and registered broker with Forbes Realty of South Florida, based in West Palm Beach Florida. Rodney and his team work in Palm Beach, Broward, Martin and St. Lucie Counties. As a recognized expert on short sales, Rodney has been featured on radio and national web conferences for agents. Rodney has also authored the book “Should I Short Sale My Home?”

Forbes Realty of South Florida also specializes in REO asset disposition. Rodney works with several banks and asset managers in the Palm Beach County area. Rodney is the main author for the popular real estate blog South Florida Real Estate Report. You can find a wealth of information regarding bank foreclosures, short sales, real estate news and local real estate trends.

For more information, please call Rodney at 561-337-4810 or email Rodney@ForbesRealtyOnline.com

{ 0 comments }

Why should I choose a short sale in Jupiter Florida

by Rodney Forbes on September 26, 2012

West Palm Beach Short Sale RealtorThe short sale process in Jupiter Florida can be a long tedious process, but upon completion, will show its true benefits. Depending  on the state, and whether the short sale was a traditional short sale or the HAFA short sale, a homeowner will be forgiven  the deficiency after the short sale; meaning you will not be required to pay the difference. With a foreclosure, you will be addressed with fees and many years of “foreclosure” lingering to your credit.

Short sales have been helping homeowners avoid foreclosure since the housing market started taking its fall back in 2007. Short sales are becoming popular because of the small impact it has on a homeowner’s credit. A foreclosure in Jupiter, FL can make it almost impossible to qualify for a loan for seven years, while a short sale can recover in as little as two years. Short sales can be a lengthy process, but with the help of a short sale specialist, you won’t have to worry about negotiating to constant communication with the lender. The service of a short sale specialist is free to the homeowner and is just another plus to opting for a short sale.

Short sales offer incentives to the qualifying homeowner to help with relocation fees. The Home Affordable Foreclosure Alternative government program will offer $ 3,000 cash back after the short sale. A short sale in Jupiter can also benefit the lender by helping them to avoid a costly foreclosure; the lender understands their loss with a short sale, but also understands their gain of avoiding foreclosure.

With the housing market still trying to make its recovery, buyers are still looking for a good deal and homes being sold as short sales in Jupiter could  be the deal they are looking for. Sometimes many buyers can come and go during a seller’s short sale, but that is why it is important to have a competent short sale specialist from the start, to make sure your house is “buyer friendly” and all of the requirements asked by your lender are met.

**Rodney Forbes is a Realtor® and registered broker with Forbes Realty of South Florida, based in West Palm Beach Florida. Rodney and his team work in Palm Beach, Broward, Martin and St. Lucie Counties. As a recognized expert on short sales, Rodney has been featured on radio and national web conferences for agents. Rodney has also authored the book “Should I Short Sale My Home?”

Forbes Realty of South Florida also specializes in REO asset disposition. Rodney works with several banks and asset managers in the Palm Beach County area. Rodney is the main author for the popular real estate blog South Florida Real Estate Report. You can find a wealth of information regarding bank foreclosures, short sales, real estate news and local real estate trends.

For more information, please call Rodney at 561-337-4810 or email Rodney@ForbesRealtyOnline.com

{ 0 comments }

Why Banks Reject Short Sales in Palm Beach Gardens Florida

by Rodney Forbes on September 17, 2012

West Palm Beach Short Sale RealtorA short sale may be the best solution for the homeowner who desires to avoid foreclosure. A short sale is for the homeowner who is facing foreclosure and needs to get out from under their home. The Palm Beach Gardens short sale process can be a lengthy process due to the fact that it requires lots of paperwork and waiting for a buyer. Lenders will request for what is known as a short sale package, and any mishaps with this package can likely result in a delay or even a possible rejection. It is very critical to ensure that the asking price is accommodating for the lender; after all, they have agreed to sell the home below its original value so that they are capable of avoiding foreclosure. It is also an excellent idea to remind your lender about the Home Affordable Foreclosure Alternative program; where you and the lender can get incentives for successfully completing your short sale.

One of the very beginning steps of a short sale should be selecting the right short sale specialist for your short sale. An experienced short sale Realtor will be capable of helping your Palm Beach Gardens short sale from start to finish and be sure of all paperwork being filed correctly and negotiations are managed. Should you hire the wrong short sale agent, your short sale could be a disaster. A knowledgeable, skilled and experienced short sale specialist will be able to maintain good communication with your lender making sure your short sale package is fresh in your lenders mind.

Your short sale package is key to your short sale approval; holding financial documentation as well as your hardship letter. Should any documents be misplaced, the entire package could be worthless. It is encouraged to make sure your name, date and loan number is on every single piece of paper, just in case that something should ever occur.

Waiting for the approval for a short sale can be a time consuming process, but it can also be a quick process with the aid of an experienced Palm Beach Gardens short sale specialist. With a short sale expert your short sale will be managed and you can be assured your lender will always have your short sale in mind.

Another reason as of why a short sale in Palm Beach Gardens could be rejected is your buyer. It is critical to ensure that potential buyers are in a position where they can move quickly. The buyers will be checked and it would be a great advantage to have approval letters available to the lender to ensure funds are in place and they are serious buyers.

**Rodney Forbes is a Realtor® and registered broker with Forbes Realty of South Florida, based in West Palm Beach Florida. Rodney and his team work in Palm Beach, Broward, Martin and St. Lucie Counties. As a recognized expert on short sales, Rodney has been featured on radio and national web conferences for agents. Rodney has also authored the book “Should I Short Sale My Home?”

Forbes Realty of South Florida also specializes in REO asset disposition. Rodney works with several banks and asset managers in the Palm Beach County area. Rodney is the main author for the popular real estate blog South Florida Real Estate Report. You can find a wealth of information regarding bank foreclosures, short sales, real estate news and local real estate trends.

For more information, please call Rodney at 561-337-4810 or email Rodney@ForbesRealtyOnline.com

{ 0 comments }

New waterfront home for sale in North Palm Beach. Listed by Rodney Forbes with Forbes Realty of South Florida in the West Palm Beach area. Call 561-337-4810 for more information. This bank owned foreclosure is a rare find in the desirable community of North Palm Beach. The home has over 3,200 square feet and fully renovated in 2004. The home is located directly on a waterfront canal with intracoastal and ocean access. This large corner lot on Anchorage Drive also has a large inground pool.

The kitchen has been renovated with granite countertops and stainless steel appliances. Featured throughout the home are marble tile and hardwood floors. The home has 4 bedrooms and 3 full baths, including a full cabana bath. Bathrooms have all been upgraded with premium Kohler fixtures and showers. Property has tropical landscaping, fenced back yard and a zoned underground sprinkler system.

For more information on this North Palm Beach bargain call Rodney Forbes at 561-337-4810 or email Rodney@ForbesRealtyOnline.com

Rodney Forbes is a Realtor® and registered broker with Forbes Realty of South Florida, based in West Palm Beach Florida. Rodney and his team work in Palm Beach, Broward, Martin and St. Lucie Counties. As a recognized expert on short sales, Rodney has been featured on radio and national web conferences for agents. Rodney has also authored the book “Should I Short Sale My Home?”

Forbes Realty of South Florida also specializes in REO asset disposition. Rodney works with several banks and asset managers in the Palm Beach County area. Rodney is the main author for the popular real estate blog South Florida Real Estate Report. You can find a wealth of information regarding bank foreclosures, short sales, real estate news and local real estate trends. 

For more information, please call Rodney at 561-337-4810 or email Rodney@ForbesRealtyOnline.com

{ 0 comments }

West Palm Beach real estate broker Rodney Forbes was interviewed recently by NBC Channel 5 concerning the local real estate market and the national debate over the debt crisis. Rodney, a local expert on bank foreclosure and short sale properties, keeps a close eye on the effect of government policies on the local real estate market.

Although many felt the debt crisis and the possibility of a downgrade of United States debt could cause interest rates to increase, Rodney believed the debt crisis was a non issue for interest rates, and the government will continue to keep interest rates down.

Watch the full story below.

{ 0 comments }

So, you’ve finally decided it’s time to sell your Palm Beach County home. Interest rates are at historic lows, inventories of available homes are starting to shrink, short sales and foreclosures don’t seem to be as plentiful as before, and most importantly, buyers are out looking for the right home. What can you do to make your home stand out in the crowd. Take some advice from West Palm Beach real estate broker Rodney Forbes.

In a tough real estate market, many home sellers will find that it’s difficult to sell their property. Whether it is a primary residence or an investment property, a soft market can force home sellers to make many home improvements to sell a house.

It’s important to remember that while there are many home improvements that could be made to a property, home sellers need to focus only on the home improvements that should be made. So how do you know what are the best improvements to sell a house? The answer is, it depends. Factors such as time of year, location and competing inventory all play a role. Generally speaking, there is no hard and fast rule. But there are general guidelines that apply to most home improvements. For example, the National Association of Realtors publishes each year the Cost vs. Value Report, which features various home project costs and returns, including a national average. The most recent report for 2010 shows that creating a memorable first impression with home improvements pays off (and most of the top projects don’t require a major investment).

In addition, it’s important to remember the top five areas that most home buyers are looking at:

Exterior Home Improvements

Many home buyers will walk away from a home if the exterior is shabby or uninviting. Home sellers should take a quick audit of the outside of the house. Are the sidewalks or driveway cracked? Is the exterior paint chipped or weathered? Is the roof leaky? Many of these flaws can be fixed easily and should be evaluated and fixed prior to putting your home on the market.

Flooring Home Improvements

When a buyer enters a house, one of the first things he or she takes into account is the flooring. Is the carpet in good condition? Is there hardwood or laminate flooring? Is there tile or linoleum in the bathrooms or entryway? Most buyers are looking for high quality flooring, such as tile or hardwood. Floors can be easily updated to appeal to buyers, even if only in the main areas such as entry or hallways. If the house has carpeting, be sure that it is in good condition and has been steam cleaned.

Paint Home Improvements

The color of wall paint you choose plays a significant part in how attractive your home will be to buyers. Neutral colors, such as off-white and beige, are traditionally the best colors to paint a home to sell. When deciding what paint colors to choose, steer clear of bold or gender-specific colors such as purples, reds and oranges. Also, be sure the paint has been applied by a professional. Even when the best colors are used, home buyers can be picky and do not want to have to fix a sloppy paint job.

Kitchen Home Improvements

In most homes, the kitchen is the costliest room of the house. Home buyers will shy away if they feel the kitchen needs to be remodeled or repaired. Therefore, the home seller must take an inventory of what needs to be replaced in the kitchen and determine the cost vs. value. In many cases, taking the time to update appliances, upgrade countertops or cabinetry can make or break the sale of a home.

Bathroom Home Improvements

Second to the kitchen, the master and guest bathrooms are the costliest rooms of the house, and buyers will be looking at items such as the shower, sinks, toilets and fixtures to make sure they are in good condition.

While the decision of what home improvements to make will vary by property and real estate market, these few home improvement guidelines should help home sellers prepare a checklist of the best home improvements to sell a house. In every instance, the home seller should carefully evaluate the cost of making home repairs versus the value to be derived from them in the future sale price. If financing is a concern, home sellers should take into consideration the potential increase in sale price that can be derived from the home improvements. For many home sellers, there may be federal government grants for home improvements as well as the potential to deduct home improvements from income taxes.

source: SearchWestPalmBeachHomes.com

If you’d like a free market analysis of your home call Rodney’s office at 561-337-4810. If your home has been listed and recently expired without a contract you can also request a free “Expired Listing Home Audit”.

{ 0 comments }

Good Advice for Selling Your Florida Home

by Rodney Forbes on September 9, 2011

The video below gives some good advice on how to get your home sold in tough market. Florida has been one of the most difficult real estate markets for the past several years, but homes are selling. If you’re considering making a move get a real estate professional to help you. Price, condition, location, schools, etc all are important factors in getting the best price in the shortest amount of time.

If you have any questions concerning the local real estate market in Palm Beach County Florida please email or give us a call at 561-337-4810. Forbes Realty of South Florida is considered one of the most experienced short sale real estate firms in the West Palm Beach area. Forbes Realty’s website SeachWestPalmBeachHomes.com receives over 3,000 visits per month from all over the world from people looking to move to the Palm Beach County area.

{ 0 comments }

Steve Jobs for President?

by Rodney Forbes on August 7, 2011

Below is an excerpt from the LA Times.

Apple Inc. may not have more money than God. But it’s got more cash than Uncle Sam.

As the government struggled to reach an agreement on raising the debt ceiling, the U.S. Treasury’s cash balance fell to $74 billion this week. That’s less than the $76 billion that Apple now has in cash.

If Steve Jobs is so good at accumulating cash, maybe someone will convince him to run for president. This would be an interesting slogan “an ipad and an iphone in every house”

Maybe it could be more simple. In this age of outsourcing, could it be possible to outsource running the US government to Apple? Just a thought.

{ 0 comments }