About Berkshire Hathaway HomeServices Cooper

Founded in 1970 by Jack and Pat Cooper, Berkshire Hathaway HomeServices Cooper & Co. Inc., REALTORS® has gained the respect of Mobile and Baldwin Counties' residents and business owners as a leader in their communities. We have assisted tens of thousands of buyers and sellers in residential, commercial and developmental real estate transactions. Whether you are interested in buying or selling a home, seeking resort, vacation or retirement properties, developing a commercial park or residential subdivision, or investing in timberlands, our expert associates can help you make the right decisions. With six offices in Mobile County and one in Baldwin County, Berkshire Hathaway HomeServices Cooper & Co. Inc., REALTORS® offers a wide range of real estate services from residential, commercial, and resort beach properties to timberland sales in Alabama and Mississippi. Visit us anytime at www.bhhscooperrealtors.com or call us at 251-344-5925, we would love to hear from you!

Why the First Offer is the Best Offer

Why the First Offer is the Best Offer

“The first offer is your best offer.” Countless agents have tried to explain this to clients as we discuss the sale of their home. This isn’t a sales gimmick, nor are we trying to make a “quick sale.” Emphasizing the importance of the first offer has nothing to do with money. This is a genuine attempt to educate clients about the opportunity before them, and why they should take that offer seriously.

By the time a person is ready to submit an offer, they have invested a lot into the home buying  process. That buyer has contacted a lender, gone through the steps of becoming pre-approved and has looked at multiple houses before committing to one. The search for the right home can take weeks or months. The buyer may have even submitted offers on other homes only to lose out to a stronger, more qualified buyer. Eventually your home caught their eye and they liked it enough to make that rare and special thing: An Offer. You may not like the proposed amount, but you should take time to evaluate the opportunity before you. To help you come to a decision, I suggest analyzing the offer against the following criteria.

1. Is the number similar to what your Realtor said your home was worth when they first met with you to discuss the sale of your home? What have comparable homes sold for in the last six months?

If the offer is close to the original list price your Realtor suggested, and is similar to what other homes have sold for in your area, that price might be the best you can reasonably expect.

2. How long has your home been on the market?

If the home has been on the market for over a month without any offers, it could be the only one you get for a long while.

3. Will that offer net you enough money to achieve your financial goals? Will it satisfy your timeline for moving?

If it is sufficient for you to reach your financial goals and it works with your timeline there is no real reason reject the offer.

Deciding to reject the first offer means later you might be accepting a lower offer or taking your home off the market. If you want to sell your home quickly and for the most money, accept that first offer.

Find us at www.BHHSCooperRealtors.com or download our FREE Mobile App! Text BHHSAL302 to 87778 or go to: www.app.bhhsre.com/BHHSAL302
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Realty Times Article

6 Surprising Benefits Of Buying Or Selling Your Home In The Fall

fall house

Seeing fewer for-sale signs now that summer is over? That can be great news for buyers who are looking to score a new home and buyers who want to get rid of their place and buy a new one. If you think you missed the boat on making your move this year, we’re here to tell you why buying and selling in the fall can work for you.

Less competition

 Yes, there may be fewer homes on the market, but there are also fewer buyers out there competing for the same home you want. That gives buyers an important edge. “Families on a mission to move into a new home before school starts are out of the picture,” said Forbes. “Competition for houses drops off in the fall, a time many people consider to be off-season in real estate. But there are still homes for sale – and in some cases, there’s just as much inventory as there was during the spring and summer.”

The benefit to sellers is that those buyers who are out there tend to be more serious, which means your REALTOR® can key in on the real buyers without having to sift through the riffraff.


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Tax breaks

If you’re a buyer who closes escrow before December 31, and you may get a nice write off on your taxes. “Property tax and mortgage interest are both deductions you can take for your whole year’s worth of income, even if you closed on your home in December,” David Hryck, a New York, NY tax adviser, lawyer, and personal finance expert told Realtor.com. “Any payments that are made prior to the closing of the loan are tax-deductible. This can make a serious difference in the amount you owe the government at the end of the year.”

There are also potential tax breaks for home sellers. “You can include all sorts of selling expenses in the cost basis of your house,” said The Balance. “Increasing your adjusted cost basis decreases your capital gain because this is what’s subtracted from the sales price to determine how much of a gain – or loss in some cases – you’ve realized. If you have less of a gain, you’re more likely to fall within the exclusion limit, and if you’re gain isn’t excluded, you’ll pay taxes on less.” And that’s just the beginning. Closing costs and home improvements may also be write offs for sellers. Check out the full list here.

Home for the holidays

Buy or sell early in the fall and you could be nicely situated in your new home in time for the holidays and before winter weather hits. Moving during a calmer time of year also means you may have better access to movers and other necessary resources than during the busier spring and summer seasons.

The right price

Did you list in the spring or summer with an exorbitant number that you thought you’d have no trouble getting because it was a hot market? That’s pretty common these days. Whether you’ve had a revelation about the price you should be asking or have made updates to your home to justify a higher price, you’re probably in better shape to get your (realistic) asking price in the fall. If you’re a seller and you establish a smart pricing strategy, you could find your home standing out in the crowd and selling while others sit on the market under a blanket of snow.

Buyers also may have a better time getting a home that’s within their budget because when there is less competition for homes, there is less chance of bidding wars and over-asking-price sales.

Fall may be safer for buyers and sellers

Here’s something you may not have thought of. “Did you know that burglars have peak seasons? They do, Sarah Brown, a home safety expert for SafeWise.com, told Forbes. “July and August are prime months for burglaries to take place. Waiting until the fall [to buy] gives you an advantage when learning about a home and the neighborhood. You’ll be settled in your home and can take precautions—like setting up that new alarm system—before the next burglary season rolls around.

For sellers, less competition for your home can be a good thing if it means your home is safer from theft.

Great deals on stuff to fix up your home

Coordinate the timing right, and those items you need to fix up your home for sale in the fall or update and upgrade after a purchase might be priced to your advantage. Check Consumer Reports for a full list of the best times of year to buy everything, and keep in mind holiday and Black Friday sales. You could score some great deals at this time of year.

Find us at www.BHHSCooperRealtors.com or download our FREE Mobile App! Text BHHSAL302 to 87778 or go to: www.app.bhhsre.com/BHHSAL302
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Realty Times Article

 

How to Simplify Your Next Move.

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When you’re selling your home, getting your belongings organized can seem like a low priority. You’re dealing with finding the right real estate agent, the best time to list your home on the market, and maybe even house-hunting for a new place to live.

All of that can keep you quite busy considering many of us have to do those things while we work a full-time job. Organizing your home so that you can simplify your move just doesn’t seem practical.

However, there is one main reason why getting organized can not only simplify your next move but also help improve your chances of selling your home faster and for more money.

When you go through the process of getting organized, you should be eliminating items from your home which helps to clear clutter. Clearing clutter is one of the first things agents and experts who stage homes for sale will tell you to do.

When the clutter is gone, the home can be shown much easier. Potential buyers can see what makes your house so special and different from others in the neighborhood.

If you’re putting off the process of getting organized because you think you should wait until you accept an offer, let me encourage you to get motivated to do it sooner. I’ve seen it happen many times. The homeowner thinks there’s plenty of time and then when an offer is accepted they’re thrust into high gear because the buyer wants to close escrow fast.

Of course, your agent can negotiate the closing date but sometimes a faster closing is a must. Yes, you may be able to rent back from the new owners to give you more time to prepare to move but you can’t avoid the fact that you’ll need to move at some point.

Here are five tips that can help you jump start your organizing and simplify your next move. You will be glad you start before you get an offer to purchase your home.

1. Sort piles of belongings into groups: keep, giveaway, maybe, and trash. The “maybe” pile you box up and seal for six to 12 months. If you don’t have a use for your items in the “maybe” box during the year then perhaps you can donate it.

2. Give yourself plenty of time. Be patient. This process of getting organized takes time. Know that when it comes to sorting through personal papers and memorabilia it will take you much longer than reviewing other items. Leave some extra time for the expected reminiscing that will occur.

3. Store your items in clear plastic bins. Using clear boxes helps to let you have a quick view of what’s inside. If you used cardboard boxes or colored bins, then use a pen to clearly label what’s inside and which room it will go in at your new home. You might want to use a large piece of paper to write the label on so that you can reuse the bin again later for another purpose.

4. Get rid of the paper. A big problem in many homes is the paper trail they have from room to room. It could be magazines, newspapers, documents, advertisements, receipts, you name it. Most homeowners keep a lot of paper which creates a lot of clutter. Go through your files and reduce the paper by shredding or recycling documents you don’t need. You’ll find that a lot of what you’re hanging on to, you just don’t need.

5. Do it now! This is the most valuable tip. As soon as you finish reading this, go put a time on your calendar when you will begin to get organized. Placing it on your calendar should help you block off time to get started and prevent procrastination. If you take care of things right away, you’ll find that life gets simpler. The same goes for your move. So, get organized and simplify your next move!

Find us at www.BHHSCooperRealtors.com or download our FREE Mobile App! Text BHHSAL302 to 87778 or go to: www.app.bhhsre.com/BHHSAL302
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Realty Times Article

 

7 Ways To De-Stinkify Your House For A Showing

Image result for stinky home kids

Your stinky house isn’t making any friends. And if you’re trying to sell that house, it’s certainly not convincing any lookers to become buyers. You may think your house smells like roses and baby kisses, but, trust us. Everyone thinks that.

The truth is that every day smells can get past most of us. You might not realize that the cat box is giving off “They don’t clean me enough” vibes, or that there’s a slight musty smell in your master bathroom – a musty smell that’s going to make potential buyers think your home has issues, by the way (and, by issues, I mean you should be prepared for inspections and scary terms like “leak” and “mold” and money coming right out of your pocket.).

But, before you can even get to the inspection stage, you have to get someone interested enough in your home that they’ll want to make an offer. Use these creative tips to de-stinkify your home and infuse it with the magical scent of “buy me.”

Vinegar

There may also be musty smells coming from your washing machine or dishwasher. A cup full of white vinegar and a run through the cycle should help freshen them up.

Baking soda

Your mom (or grandma) had the right idea with that box of Arm & Hammer in the fridge. It helps to absorb odors, which will come in handy when potential homebuyers open it – which they will.

“Baking soda, unlike most commercial air fresheners, doesn’t mask odors, ‘it absorbs them, home economist Mary Marlowe Leverette told Houselogic. “Baking soda (sodium bicarbonate in a convenient box) neutralizes stubborn acidic odors – like those from sour milk – as well as other funky smells lurking in your home. It’s a natural odor eliminator.”

Not convinced? Baking soda can also be used to eliminate odors in: Your dishwasher, your drain, your garbage can, your upholstered furniture pieces, and your cat box.

Charcoal

Speaking of cat boxes, agents’ preference as it relates to open houses and showings generally leads toward: remove them – and the pet! But if a showing pops up last-minute and this isn’t going to happen, at least your area can be tidy and as clean-smelling as possible. Charcoal can help.

“Activated charcoal, which is a form of carbon that has been ‘activated’ to make it extremely porous, is great for absorbing a range of odors, especially those caused by pets,” said Gizmodo. “You can buy activated charcoal specifically designed for pet odors for $7. Put them in or near your litter box to help mitigate the stink.”

These charcoal bags are another great product you can use throughout the house to absorb unwanted smells. “Place a few of these charcoal-filled linen bags around your house and poof – odors gone! Best of all, each bag lasts for up to two years, just put them outside in the sun for an hour once a month to rejuvenate the charcoal,” said Bravo. “Large bags are suited for bedrooms, kitchens, and living areas; whereas smaller versions are great for bathrooms, your car, or even your fridge.”

Chocolate chip cookies

There’s a reason so many real estate agents bake cookies for open houses. Not only are they delicious and capable of imparting a sense of warmth and comfort, they can also cover a multitude of malodorous sins. Pick up a couple of packages of pre-made cookies you can just pop into the oven before potential buyers show up.


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Air fresheners

The problem with many air fresheners is that they attempt to cover smells with what many consider to be even more offensive smells. If you’re showing your house, beware of anything overpowering or highly chemical-laden because it can aggravate your visitors’ allergies. Gimme the Good Stuff has a great rundown of all the chemicals that can be found in some of the air fresheners on the market and some natural alternatives, including vitamin-infused air fresheners.

Odor-eliminating nightlight

Sounds odd, but this Hamilton Beach TrueAir Plug Mount Odor Eliminator Air Cleaner Purifier with built in night light might be the answer to your stinky problems. “Why just use a night-light when you can use a night-light that also makes the room smell great? Plug this into an outlet and a tiny fan inside pulls air through a carbon filter and sends it back out as fresh, odor-free air,” said Bravo. “An optional ‘green meadow’ scent cartridge can be installed to add a light scent to the room.”

Dryer sheets

Have a teenager with stinky teenage sneakers? A dryer sheet placed in each shoe will help absorb the odors (But, if they’re really bad, you might insist they’re kept outside or removed entirely from the property for showings).


doityourself.com

Realty Times Article

Find us at www.BHHSCooperRealtors.com or download our FREE Mobile App! Text BHHSAL302 to 87778 or go to: www.app.bhhsre.com/BHHSAL302
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9 Eyesores That Kill Your Home’s Value.

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First impressions are extremely important when you are selling a home.  You only get one chance to make a good first impression and in a blink of the eye you can turn people off.  When it comes to curb appeal, minutes count.

1. If your landscaping is drab plant some flowers to spruce the front up a bit, be sure to use a seasonal arrangement.  The best thing to do is to mix it up a bit but stick to a seasonal color scheme.

2. Take a look around, is there anything dying, like shrubs or trees?  This can turn a buyer away faster than you think.  Bag these up and dispose of them properly before the home hits the market.

3. Do you have a lawn?  Well think of a better pattern to mow your lawn.  Mowing it in the same direction all the time can hurt your lawn so try mowing in varying patterns to encourage lawn growth.  It can also be an attractive eye catcher for buyers looking at your home.

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4. A can of paint can go a long way to touch up the exterior of your home if you have faded or peeling paint.  Some lenders have issues with peeling paint so grab a brush and touch up those areas that are making things look ugly.

5. Garage doors can get dirty and dusty both inside and outside.  Gently hit this area with a hoes sprayer, not a power washer, to spruce up the garage door.  Also, getting rid of all those nasty cob webs inside the garage can help buyers feel less intimidated when they enter this area of your home.

6. If your home’s roof is more than 10 years old, this would be a good time to take a close look at the roof.  Look for loose or missing shingles and replace as needed.  Shingles of this age will start to break loose and buyers can spot them a mile away.

7. Clutter is bad, plain and simple.  You do not want your buyers looking at all the stuff that you’ve accumulated over the years that you’ve lived there.  Get rid of stuff by selling it, giving it away or donating it to a good cause.  You want your home to shine not look like a hoarder lives there.

8. Take notice of the front door.  Does it look drab?  If a new door is out of your budget then perhaps a fresh coat of paint will help?  Or consider new hardware for the front door.  A new door knob and new knocker can go a long way to attract buyers.

9. Driveways that are beaten up with age and lack of care can scare away buyers as well.  By having a fresh coat of sealer put on the driveway, you not only help to protect the driveway but will do wonders for buyers pulling into you home.

Realty Times Article

Find us at www.BHHSCooperRealtors.com or download our FREE Mobile App! Text BHHSAL302 to 87778 or go to: www.app.bhhsre.com/BHHSAL302
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How To Buy A House Without Going House Poor

How To Buy A House Without Going House Poor

How much house can you really afford? Is it the amount the bank tells you when preapproving your loan? That’s what most people go by, oftentimes spending up to their max approval amount to get as much house as possible – or to be able to afford something at all in tight markets.

The debt-to-income (DTI) ratio, along with your credit score, is what is used by lenders to determine your loan approval and amount. The Consumer Financial Protection Bureau’s (CFPB) efforts to keep this number low notwithstanding, it has been rising to levels that are concerning to industry insiders who fear a widespread wave of homebuyers overextending themselves and becoming unable to support their mortgage payment and other obligations.

The CFPB’s Qualified Mortgage (QM) Rule went into effect in 2014, intended to curb overleveraging by capping a borrower’s debt-to-income (DTI) ratio at 43 percent. “This means that a borrower’s total debt expense (including total mortgage payment) does not exceed 43% of their gross income (before taxes are withheld),” said the National Association of REALTORS (NAR). The rub: Many loans Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA), are exempt from the 43 percent DTI limit.

The impact higher DTIs are having on the market is clear; a new WalletHub report “analyzed data from 2,533 U.S. cities and ranked all of them on the basis of a ‘WalletHub Home Overleverage Score,'” said 24/7 Wall St, finding that, in many cities, overleveraging is becoming the norm. “The score was derived from a city’s median mortgage debt, median house value, median income, mortgage debt-to-income ratio and mortgage debt-to-house value ratio.” The top 10 are all well over the 43 percent threshold, with the top three – San Luis Obispo, California at 59.62; Williamsburg, Virginia at 58.76; and Brooksville, Florida at 57.44) pushing 60 percent.

Getting in over your head with a house, either from the get-go when first purchasing, or later on with a home equity line that increases your monthly payments, is a dangerous scenario for homeowners (and for the market in general). So how do you keep yourself in check to make sure the house you’re buying is one you can actually afford and that you’re not in danger of becoming house poor?

Do your own calculations

The bank may be telling you that a $350,000 house is within your means, but are you OK with the monthly payment attached to that price? No one is more familiar with your spending habits than you. Are you really going to be able to cut $500 a month in discretionary spending (eating out, movies, clothes shopping, morning lattes) to comfortably make your new house payment?

Don’t forget about the extra expenses

If you’re buying your first home, you may not be estimating your new monthly expenses accurately. Did you include the HOA fee, if the community in which you’re looking to buy has one? What about any special assessments, if there are any? And private mortgage insurance (PMI) if you have an FHA loan and are putting less than 20 percent down on your home. That couple hundred dollars could put you over the top.

Have you also considered your utilities? You may not be accustomed to paying gas and electricity and water and trash if you’ve been living in an apartment. There could also be an increase in the cost of electricity if you have more square footage to heat and cool.


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Watch out for HELOCS

A home equity line of credit (HELOC) can seem harmless. I mean, it’s your money, right? And you’re using it improve your home, which will only raise its value, right? But what seems like a great idea can also get you in trouble when you tap your home equity. You may be calculating the additional payment for now, but what happens later?

That’s the conundrum thousands are facing right now, as “HELOCs are resetting higher rates and overleveraging homeowners,” said Inman. “An analysis by Black Knight Financial shows that 1.5 million home equity lines of credit will see interest-only draw periods end this year with outstanding unpaid principal balances that average $62,500 per HELOC. The data reveals that average borrowers whose lines of credit reset will face an additional cost of $250 per month, more than double the current average payment.”

Keep an open mind

Finding a house you can afford may be challenging – especially for first-time buyers and those in competitive markets that push the affordability index. If you have tight parameters for your house hunt that are making it hard to find something within your budget, consider:

  • Extending your area search. You may not be aware of (but your Realtor probably is!) adjacent cities or communities that offer a similar lifestyle at a lower price or up-and-coming areas that provide a great value because they’re still slightly under the radar.
  • Buying a condo or townhome instead of a single-family home. Some buyers have an automatic aversion to condos and townhomes because they don’t like the idea of living attached. But your real estate agent may know of properties that are end units, that have private yards, and that are two-story units with no one above or below you. It may be that this is your best bet for homeownership you can really afford at this point, and you may find you like it far more than you expected – especially because so many of these communities come with great amenities like a pool and gym, plus front-yard landscaping that is taken care of, saving you time and money.
  • Looking at fixer-uppers. A little-known loan called an FHA 203(k) mortgage may be your “in” to a home you can afford and make your own. The bonus is that it’s also great for borrowers who may not have the credit and/or down payment to qualify for conventional loans. “The FHA requires a credit score of at least 580 if you want to make the minimum down payment; if you have 10% down, your score can be as low as 500,” said Interest.com. “You can borrow more than the home is worth, as long as the repairs will increase its appraised value. The most you can borrow is 110% of what an appraiser estimates it will be worth after renovations, or the cost of the home plus the estimated renovation cost, whichever is less, minus your down payment. The minimum down payment on an FHA loan is 3.5%.”

Realty Times Article

Find us at www.BHHSCooperRealtors.com or download our FREE Mobile App! Text BHHSAL302 to 87778 or go to: www.app.bhhsre.com/BHHSAL302
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Tired Of White Everything In Your House? Paint It Black!

White is crisp and cool. But if it’s all starting to feel a little clinical, you might be ready for a change. Bring some drama and sophistication to your space, not to mention a chic counterpoint to all that white, with the unexpected addition of black. Afraid to take that plunge into the deep, dark abyss? It’s easier than you think.

Black walls in an entry hall? All that glass, an eye-popping floor and ceiling, and glam details make this foyer a showstopper.


elledecor.com
The black floors and fireplace in actress Cameron Diaz’s Manhattan apartment look sleek, especially with the light tones in the rest of the space, and the mirrored fireplace wall, which bounces light around the room.

Who would have thought black walls in the bedroom would be so chic? Keep the other furnishings light and finish it off with a sparkly chandelier for maximum glam.


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You don’t have to cover almost every inch of your black walls with art… but it sure looks cool if you do.


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You also don’t have to paint every wall black. Look at how the black feature wall in this New York living room designed by Nate Berkus and Jeremiah Brent helps center the eye on the view out the dual windows. A stellar black coffee table and duo of chairs continue the color play.


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Soapstone is a great way to introduce the color into your kitchen because it’s a softer black that has some white veining.


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But if you really want to make a statement in the kitchen, deck it out in black from the cabinets to the integrated appliances to the countertops to the beams above. Keeping the island counter white gives you all the contrast you need for an exceptional space.


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Talk about glamour. If you’re thinking about black in the bathroom, take a cue from this chic space. Black, large-format subway tile and a black countertop work when you weave in some shiny chrome (and the big window streaming light into the space doesn’t hurt!).


pinterest.com
If you don’t want to make such a large or (semi-) permanent change, think about transforming a piece of furniture. A tired dresser gets a whole new life with a coat of black paint. This piece started out pretty ragged and outdated in light and mid-tone brown.


hometalk.com
Find us at www.BHHSCooperRealtors.com or download our FREE Mobile App! Text BHHSAL302 to 87778 or go to: www.app.bhhsre.com/BHHSAL302
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The Do’s and Don’ts Of Flipping Houses

So you want to flip a house, do ya? Who doesn’t?! The real question is, can you hack it?

Here’s the thing. You can watch Flip or Flopand see that, despite all the drama in every episode (disagreement about floors/kitchen/overall spend, unpermitted addition/scary mold situation/ridiculous electrical nightmare that’s going to derail the whole thing) they still pretty much always make money. And that money is enticing. Obviously.

That’s why so many people want to do it. The most recent RealtyTrac analysis of this segment of the market shows that “6.6% of all single-family and condo sales in the first quarter of 2016 were flips. That’s up 20% from the previous quarter and 3% year over year. And the number of flippers grew by 8% from the first quarter of 2015,” said Fortune.

But, before you decide to forge ahead, you might want to give yourself a reality check. The Flip or Flop folks were BROKE for a long time after the last market crash before they started to make any money flipping. Like downsizing from a $6,000 per month mortgage to a $700 apartment broke. We’ve all seen them maxing out credit cards, borrowing from family, and paying outrageous rates to hard money lenders to get their deals done.

They make $10,000 per episode now, which is outside of any profit they make on the homes. They flip multiple properties at once, with the knowledge, experience, cash reserves, and network to pull it off successfully. It’s their full-time gig, so they’re able to dedicate far more time to the effort than the average “After 6/weekend flipper.”


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And then there’s the fact that, sometime during all their success building, their marriage unraveled. If you’re planning a family flip, keep in mind the stress involved. That’s “Do” number one. Here are several more, and an equal amount of “Don’ts” to keep you on track if you’re still looking to go for it.

Do: Hire good people – before you flip, not after, so you have your team in place and ready to go when you buy your house. And, also, to help you make smart choices about that purchase. “A smart way to go about your flip is by taking your contractors with you as you first tour the property so they can give you estimates on repairs immediately,” said Flipping Virgins host Egypt Sherrod on HGTV. “This way, you are not fishing around for estimates AFTER you’ve already purchased the property. This cuts down on renovation surprises.”

Don’t: Ignore red flags. Water damage, mold, asbestos, foundation issues – they may turn out to be small problems that are relatively easy to fix. Or they could be complete disasters that sink your budget and leave you in financial ruin. It’s generally best to save homes that are in severe disrepair for after you have a few flips under your belt.

Do: Secure your financing ahead of time. Winging it probably won’t yield the best results, especially if you don’t have a good handle on how much your flip will really cost.

Don’t: Go big the first time out of the gate. That mansion in the gated neighborhood that hasn’t been updated since 1972 might seem like a moneymaker, but without a ton of experience, processes that work, and a trusted network, you’ll probably be in over your head.

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Do: Pay attention to the market. Knowing which cities are best for flippingand keeping up on real estate trends and interest rate news can help make you successful.

Don’t: Just do the bare minimum when more is clearly needed. Everyone who’s ever bought a home to flip hopes and prays for one that just needs a fresh coat of paint and some new carpet. Get in, get out, get your money, right? But that’s an unlikely reality in many cases. Ignoring really outdated kitchens and baths and obvious defects probably won’t yield you the kind of return you’re envisioning.

Do: Pay attention to the neighborhood. That means taking a good look at what’s going on there, who lives there, and what the real estate values are. If you can’t identify growth potential, it might be best to walk away. Also, you don’t want to go super modern in a home that caters to a mostly classic crowd, and you never want to over-improve for the neighborhood or you probably won’t get your investment back.

Don’t: Blow your budget on day one. If you get into a bidding war or are trying to buy your first flip at auction, chances are good you’ll get caught up in the excitement and go over what you planned to spend.

Do: Price it right. Being too aggressive about pricing can be a downfall for any home for sale. But if you went over budget or over your time schedule and are eager to get your money out of your flip, you may be thinking that a higher sales price will even everything out. You’re spending money every day to carry that home, so it might be smarter to price it a little more competitively and get it sold. Then, you can be on to your next flip!

Don’t: Blow your budget on day two, either. Once you’ve bought your first flip house, you might want to run right out and buy all the pretty materials you’ve been thinking about. And those can be budget-busters. Stick to the budget you’ve made by making savvy buys and swapping where necessary. If you see a great flooring deal that saves you $1,000, the best move is to bank that money in case of an emergency (or to fatten your profit). But if you want to upgrade to the countertop that’s going to be the best fit for the kitchen, you now have the money.

Do: Know your limits. Planning to tile the whole house yourself? Have you ever tiled a whole house before? Or even a bathroom? No? Overvaluing your skill level and taking on projects you’re not qualified for may just leave you frustrated, potentially injured, and probably in need of a professional to ultimately come and clean up your mess. Can you save money by DIYing? Sure. But making smart choices will help things progress smoothly instead of holding them up and costing you more money in the long run.

Don’t: Buy your first flip at auction. “Some auction companies have open houses so potential bidders can walk through the properties ahead of time,” said Investopedia. But for many auction and foreclosure houses, this isn’t true. Buying a property you haven’t been able to walk through or have an inspection of is always challenging, even for experienced flippers (see almost every episode of Flip or Flop where an auction or “as is” foreclosure property is involved).

Do: Be honest with yourself about costs. “If you calculate a potential flip this way: Buy a house for $100,000, spend $20,000 on improvements, sell it for $150,000 and earn $30,000 profit, you clearly haven’t done all the math that’s needed,” said US News. “What about the cost of borrowed money and the cost of selling the house? What if the contractor discovers, once he starts the work, that half the plumbing lines are rotted? What about the cost of insurance, utilities and property taxes while you own the house? You must dig below the surface-level figures to paint a complete and accurate picture of the flipping opportunity. Only then can you determine whether it’s a sound financial move for you.”

Don’t: Get carried away with finishes. Not every house needs a commercial range and marble countertops. Refer back to: Know your neighborhood.

Do: Be smart about your home criteria. If you know a one-bedroom condo is hard to sell now, it’ll still be hard to sell after being renovated.

Find us at www.BHHSCooperRealtors.com or download our FREE Mobile App! Text BHHSAL302 to 87778 or go to: www.app.bhhsre.com/BHHSAL302

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The Second Rule of Home Staging: Keep It Fresh

The overall goal of home staging is to make your home shine. After paring down to just the essentials, the next staging step is to give your home a light makeover to make it look – and feel – neat, fresh and pleasant.

Buyers don’t expect everything to be new, but they don’t want to be turned off by worn items or unpleasant odors. A good rule of thumb to go by: If it looks old, worn or dirty, then clean or replace it. A clean, fresh-smelling, attractive home tends to sell. Read on for some budget-friendly ways to refresh each room in your home.

Start With the Living Room

As one of the most frequently used rooms, the living room can get a worn, lived-in look pretty fast. Fortunately, it’s also one of the simplest rooms to improve.

First, give your living room a fresh coat of paint – and while you’re at it, paint every room in the home. In the living room, go for a color that is somewhat neutral, like a gray or a bone, that works with your pared-down decor.

Second, consider buying new throw pillows to jazz up that worn sofa. Go for a refreshing, trendy color or something with texture, such as a metallic linen, to bring subtle style to the room.

Next, turn a critical eye to your rug. If it looks dirty or faded, think about replacing it with an inexpensive and neutral jute or sisal rug. The simplicity and texture of these natural fibers always make a room feel cleaner and more serene. Jute and sisal are go-tos for most home stagers because they don’t cost a fortune and do hold up well under heavy foot traffic from an open house.

Olimpic Village Condo

Also, see if you can find a spot for a mirror, a classic trick for adding a light, bright element to any room. Although they may not scream personality, mirrors give a room an expansive, luminous quality that can appeal to a buyer.

Another rule that applies to almost every room is replacing any outdated light fixtures. Look to swap them with simple, neutral and stylish options that can handle high-wattage bulbs.

Finally, replace your knickknacks and accessories with a vase of fresh flowers. Use a medium or small vase so as not to distract from the rest of the room. Simple arrangements like a vase of white tulips or a cluster of peonies make a room fresh and lovely.

Move On to the Kitchen

Kitchens and bathrooms are crucial to the sale – specifically, the sale price – of a home. The more buyers feel they will need to spend on a kitchen renovation, the less they will want to offer for your house. That equation doesn’t mean that you should renovate your entire kitchen. You can make updates that cost far less than a total overhaul.

First, scrutinize your kitchen cabinets. Do they seem dirty or shabby? If so, instead of replacing them, consider the less expensive alternative of painting them. Whether you have them painted white, gray or navy, the new look can give your kitchen renewed life.

Kitchen

Next, whether or not you repaint your cabinets, inspect their hardware. You may want to replace these pieces with more modern or on-trend alternatives. Polished chrome, industrial iron and brushed brass are just some of the stylish options available today. As in the other rooms of the house, give walls a fresh coat of paint and replace any dirty, broken or dated light fixtures with clean, updated versions.

Kitchen

Freshen Up the Bathroom

As in the kitchen, you may want to replace any dated or worn fixtures in your bathroom — whether faucets or drawer pulls. Polished chrome is a good choice because it always looks sparkling and new. Brushed brass brings a trendy, elegant look.

Next, go shopping for fluffy white towels to put on your shiny new towel bar. Even if your existing towels are nice and white, purchase new ones for staging. Your towels, though probably lovely, are nonetheless used, and will continue to be used as your house is shown. Buyers don’t want to see anything personal.

Guest bathroom

Also look to replace a chipped mirror or older medicine cabinet. A newer option will go a long way to giving your bathroom a fresh clean look.

Just as in the rest of the house, give any painted walls a fresh coat. If your bathroom cabinets are a bit shabby, consider painting those as well. A dark navy, for example, could look stellar next to the crisp whites of your towels and tub.

white boxes

Speaking of the tub and shower, instead of replacing the tub, go for the much more cost-efficient option of having it professionally reglazed. This is essentially repainting the tub, making it look and feel new. Similarly, have the tile regrouted or pressure-washed. Your bathtub and shower will shine.

Finally, place something in your bathroom that smells fresh. Whether it’s a new bar of soap, a vase of fresh flowers or a reed diffuser, use something that will have a lingering pleasant scent.

Jennifer Backstein

Make Your Bedroom Oh So Calm

The bedroom is one of the most personal spaces in the house. But for selling, we don’t want it to feel so personal. An overall guide to staging your bedroom is to think of it as a stylish and serene hotel room that anyone would feel comfortable in. When your potential buyers walk into your bedroom, you don’t want them to think of you, smell anything personal about you or see your personal items left behind.

A good first step in depersonalizing your room is to replace your bedding with crisp white linens. If all white isn’t possible, look for neutrals that give the same effect. You want your bed to look inviting, fresh and comfortable. Opt for a decorative throw pillow to give a hint of color.

BY FRYD 2012

If you have outdated furniture, just as in the kitchen and bathroom, try replacing the drawer pulls with something more modern and with simple lines. Similarly, if you have lampshades that are worn, yellowed or broken, replace them too.

When possible, hang a mirror above the bed or at some other focal point of the room, such as the wall facing the bed. This can help open up the room and reflect whatever natural light you have.

Follow the same steps in the bedroom as in the living room when it comes to the rug: If your bedroom rug looks worn or dated, replace it with sisal or jute. If your bedroom carpeting needs covering up, try placing a thin dhurrie or knit rug atop it. A rug pad can help these types of rugs stay put on top of carpet.

Finally, add a small vase of flowers to a bedside table. This little touch will contribute a pleasant detail to your hotel-like oasis.

Find us at www.BHHSCooperRealtors.com or download our FREE Mobile App! Text BHHSAL302 to 87778 or go to: www.app.bhhsre.com/BHHSAL302

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Buying a Home Over the Holidays: The Smartest Real Estate Decision You Can Make

You know that play in football where the quarterback seems to hand the ball off to a running back and the entire defense concentrates on that “runner,” only to find that the ball ended up in the hands of someone on the other side, who then sprints down the sideline and scores a touchdown? That’s pretty much what it’s like to buy a home during the holidays. While everyone is busy looking at all the pretty, shiny things and on-sale things and yummy things, you’re sneaking around the other side with the ball, or, rather, the offer, that gets you the house you want.

Yes, when it comes to homebuying around the holidays, it’s advantage: buyer. With so many distractions between Halloween and New Year’s Day, you can slide right in there and make a smart move. So why, exactly, does it benefit you to buy a home over the holidays?

Because you just want to find a home already

The market has been hot for a few years, and, in many places, multiple offers and over-asking-price sales have become the norm. Competing in those markets can be demoralizing. Tales of buyers seeking million-dollar fixers on Los Angeles’ Westside just so they can get into something in the area – and being consistently outbid for more than a year – are more and more common.

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But by over the holidays and you slice through the buyer pool. While others are trimming their tree or searching for the perfect pumpkin cheesecake recipe, you’re off snagging the home you want.

Because: First-time buyers

The above scenario, where buyers are constantly being outbid on homes, is a nightmare for first-timers looking for a home. Not only is there a verrrrrry limited supply of available homes that are affordable in the first place, but the number of folks that are vying for them is tremendous. If you’re in the market and have never done this before, you’re probably pretty frustrated.

There are time-tested tips for winning in a multiple-offer situation, like getting preapproved, limiting contingencies on the home, being flexible about the closing, and writing a “love letter” to the seller, which can appeal “to the heart can make your offer stand out,” said NerdWallet.

But acting during a time when others may be distracted and not actively searching is perhaps the most effective method of getting what you want. “About one million consumers will purchase a home from November to January this year, when home prices are a bit softer,” said Forbes.

If that sounds like a big number, consider this: “More than 85 percent of buyers who say they plan to buy a home in the next year say they will wait until the spring or summer,” according to data from Realtor.com’s “Top Tips for Home Buyers and Sellers in 2016” survey.

Because you might actually get a deal

No one likes to overpay, regardless of their price point. And multiple offers that drive up home prices are a drag for everyone (but the seller!). If you consider that those who are selling their home during the holidays are generally doing so because they have to, not because they want to, it makes sense that when you do find a house, it might be priced better than anything you’d find months later. In fact, according to The Balance, “Home prices typically drop to a 12-month low” in the month of December.

“Sellers tend to avoid the end of the year due to the short days, wintry weather and conventional wisdom that says buyers are otherwise occupied, Tim Deihl, associate broker at Gibson Sotheby’s International Realty in Boston, told Bankrate. “But those who do choose to sell at year-end are often under pressure and highly motivated to cut a deal. A seller who’s looking to move a piece of real estate during the holidays is a seller who needs to sell, because nobody in their right mind would pick that as the most convenient time to list their property. And that’s why the year-end might be a smart time to buy: Determined house-hunters can take advantage of sellers’ urgency.”

Because what better present could there be?!

You might want a new KitchenAid mixer or a flat screen or a weekend getaway. But do any of those things compare to a new home? The answer is no. No, they don’t. If you’re stumped at what to get your honey or your family, or what to ask for, here it is. And, if you time it right, you might even be able to get that home on Christmas Day.

“Almost nobody looks at homes on Christmas Day. It doesn’t matter whether you are a Christian nor whether you celebrate that holiday, there are much lower numbers of buyers shopping for a home in December,” said The

Balance. “But buying on or near Christmas Day is a smart move.”

In addition to all the other reasons the Christmas holiday season is so attractive for buyers, “People are in good moods, celebrating, opening presents, enjoying family and, let’s face it, some are a little tipsy,” they said. And, “People are more inclined to be generous, even if it means coming down on the price. Of course, the key is to find a real estate agent who will a) work on Christmas and b) be aggressive enough to worm her way into the seller’s home without batting an eyelash.”

Find us at www.BHHSCooperRealtors.com or download our FREE Mobile App! Text BHHSAL302 to 87778 or go to: www.app.bhhsre.com/BHHSAL302

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Realty Times Article