The Triangle

Introducing The Scott Hoffman Team’s You Tube Channel

If you haven’t played with You Tube lately you should, it is a lot of fun. I have created my own real estate channel that will offer many great tips of real estate and hopefully a little humor as well. Check it out at http://www.youtube.com/user/thescotthoffmanteam

Cleaning Tips & Tricks

To clean your home is to free it from dirt, pollutants and other elements.  Not only that, but cleaning can also translate into organization and proper storage of your possessions and eliminate your home’s clutter.  Either way you look at it, cleaning is an important task and, although not the most fun, it can be simplified with a few tips, tricks and a little knowhow.

Roll With It

When storing clothes, roll them instead of folding.  This not only prevents fold lines, but also results in your clothing taking up less space.  What does this mean for you?  Quite simply, you can maximize your storage space and still keep your clothes free of creases.

Stain Removal

If you want to remove stains from countertops, appliances, flooring or other surfaces, consider using baking soda or a vinegar/water combination.  Either one of these is less harsh than typical cleaning products and still provides a quick fix for most of your stain removal needs.  You may also consider anti-bacterial liquid soap and water for cleaning some surfaces.  It’s important to note that you should never submerge any electrical appliance into water.  Instead, spot clean it with a cloth.

Categorize & Organize

Before starting to clean, create categories for your clutter.  By separating your items by intent, such as keep, donate and discard, you will be able to move through your cleanup quickly and efficiently.

Getting Rid Of Dust

When you clean, you are likely to stir up a little dust here and there.  Regardless of how much or how often you clean, dust is a part of life and it’s bound to find its way into a few corners.  If you want to reduce the presence of dust in your home, try using a portable air cleaner in the room where you are cleaning.

Cut It Out

Instead of simply tossing out your old bills or credit card offers, shred them with a cross-cut or confetti-cut paper shredder.  This will prevent any unscrupulous crook from sifting through your garbage and discovering personal financial information.  If you don’t own a paper shredder and don’t have the extra money in your budget to purchase one, simply use a pair of scissors and cut anything with your name, address, social security number or banking information into small unreadable pieces.

Plastic Please . . .

Cleaning leads to tossing those unwanted items away, which means you may have a need for a lot of garbage bags.  You can use the plastic bags from your local grocer to line your small wastebaskets.  The handles make them easy to retrieve, tie and discard.  The next time you are asked if you want paper or plastic, say plastic please.

If you are looking to buy or sell real estate in the Raleigh, Durham, Chapel Hill, Carrboro, Pittsboro, Cary, Apex, Garner, Hillsborough, Wake Forest, Mebane or any of the Triangle surrounding communities, we are here to help.  We are your Triangle Area Trusted Advisors in Real Estate, here to provide exceptional service with all your home buying and selling needs.  Please make sure to visit HPWtv and learn more about the various communities that make up the Triangle.

If you find these great tips interesting please check out my website at www.RaleighRealEstateSearch.com

Shopping For The Best Home Loan

Finding the perfect home is a task, but shopping for the best home loan can be even more tedious.  With so many lenders promising low rates, closing costs and little or no down payment requirements, it’s often difficult to know which way to turn.  Luckily, there are several steps that you can take to find the right lender for your individual needs.

Assess Your Situation

Do you know what your credit score is?  If not, you should.  Most lenders rely on this triple digit number to determine both your creditworthiness and interest rates.  If you have excellent credit, you can probably work with almost any lender.  If you have severe blemishes in your financial past, however, finding the right lender may require a little more footwork.

How much money do you have for a down payment?  If you are on a budget, you will need to choose a lender that can help to get you into a home with a minimal down payment.  Knowing where you stand will give you a good idea as to which lender you need to work with.

Compare Rates

As is the case with anything in life, it pays to shop wisely.  Because a home is the largest investment that most people will ever make, it stands to reason that comparison shopping is a must.  As you speak with various lenders, ask about their rates, loan terms, qualification process and down payment requirements.

Interest rates change often, which means locking in your rates when they are low can save you a bundle of money.  Because there are so many lenders competing for your business, you will be greeted with plenty of appealing offers, including low rates, closing costs and down payment requirements.

Demand The Best

You are the one buying the home, so you should be the one to choose the length of your loan term.  With the exception of a situation where payments are simply unaffordable, it’s up to you to decide how long you want to pay for a house.  Many homebuyers prefer a longer loan term to keep the payments low, while others want to get the home paid for as quickly as possible with a shorter term.  It’s important to keep in mind that the longer you pay for a home, the more money you will end up spending in interest.

It’s a good idea to talk to your lender about their willingness to accommodate your needs.  If you’re in doubt about which lender to choose or are new to the area and need a little guidance, ask your REALTOR® for a referral.  He/she knows the business and will be more than happy to assist you in making your dream of home ownership become a reality.  

If you are looking to buy or sell real estate in the Raleigh, Durham, Chapel Hill, Carrboro, Pittsboro, Cary, Apex, Garner, Hillsborough, Wake Forest, Mebane or any of the Triangle surrounding communities, we are here to help.  We are your Triangle Area Trusted Advisors in Real Estate, here to provide exceptional service with all your home buying and selling needs.  Please make sure to visit HPWtv and learn more about the various communities that make up the Triangle.

If you find these great tips interesting please check out my website at www.RaleighRealEstateSearch.com

Home Staging: Curb Appeal-Make The Best First Impression!

• Manicure the yard.

• Clean the windows, doors, and front entry.

• Plant flowers-tastefully, and abundantly!

• Pressure clean the exterior.

• Enhance and beautify with lighting.

• Reseal the driveways.

• Paint your house.

• Focus on the front door.

• Don’t forget the shutters.

If you are looking to buy or sell real estate in the Raleigh, Durham, Chapel Hill, Carrboro, Pittsboro, Cary, Apex, Garner, Hillsborough, Wake Forest, Mebane or any of the Triangle surrounding communities, we are here to help.  We are your Triangle Area Trusted Advisors in Real Estate, here to provide exceptional service with all your home buying and selling needs.  Please make sure to visit HPWtv and learn more about the various communities that make up the Triangle.

If you find these great tips interesting please check out my website at www.RaleighRealEstateSearch.com

The Top Ten Professional Home Staging Tips

Every Homeowner Should Know

1.  Create the illusion of space by rearranging the furniture.  Try different combinations or remove and store pieces that make it feel crowded.

2.  Arrange the furniture in living areas into intimate groupings that suggest entertaining and ideal conversational settings.

3.  Consider rental furniture, especially when the pieces you have don’t match, are badly worn, or are in any state of disrepair.

4.  Add decorative pillows and slipcovers in warm neutral tones to hide flaws and make pieces blend.

5.  Eliminate clutter.  Store or get rid of appliances, gadgets, newspapers, mail or anything that takes up space or distracts attention.

6.  De-personalize your home so buyers can imagine living in it.  Store pictures, awards, trophies, collectibles, and other personal keepsakes.

7.  Paint walls in inviting neutral colors to cover flaws and freshen rooms.

8.  Add small luxurious touches to bathrooms and bedrooms.  Think plush towels, fresh flowers, high-end bed linens, and pretty bath soaps.

9.  Eliminate unpleasant odors and smells that can kill a sale.  Fragrant candles, plug-ins, and home sprays can help, but nothing smells better than clean.

10.   Plants add an aura of softness and warmth to any room.  Large or small, real   or silk-they’re a favorite of professional stagers.

If you are looking to buy or sell real estate in the Raleigh, Durham, Chapel Hill, Carrboro, Pittsboro, Cary, Apex, Garner, Hillsborough, Wake Forest, Mebane or any of the Triangle surrounding communities, we are here to help.  We are your Triangle Area Trusted Advisors in Real Estate, here to provide exceptional service with all your home buying and selling needs.  Please make sure to visit HPWtv and learn more about the various communities that make up the Triangle.

If you find these great tips interesting please check out my website at www.RaleighRealEstateSearch.com

Home Buyer’s Checklist

If you can answer yes to the following questions, you may be ready for home ownership.  Your REALTOR® can help you to find the perfect home based on your individual needs.

• Have you been steadily employed for at least one year, but preferably two years?

• Do you plan to live in the home long enough to build equity?

• Can you provide a down payment and still have enough money left to pay for closing costs, utilities and home furnishings?

• Are you current on all debts, including auto loans, credit cards, etc.?

• In addition to any current debts that you may have, can you afford a monthly mortgage payment which will likely include property taxes and insurance?

• Do you have the time to devote to shopping for a home and comparing interest rates from various lenders?

• Have you checked your credit reports for inaccuracies and disputed anything that needs correction with each of the three major credit reporting agencies? 

The decision to buy or rent is a very personal one that can only be determined after a careful evaluation of your situation. A REALTOR® can show you the perfect home and a lender can tell you whether or not you can afford it, but it’s up to you to make the choice as to whether or not you are ready to make the move.

If you are looking to buy or sell real estate in the Raleigh, Durham, Chapel Hill, Carrboro, Pittsboro, Cary, Apex, Garner, Hillsborough, Wake Forest, Mebane or any of the Triangle surrounding communities, we are here to help.  We are your Triangle Area Trusted Advisors in Real Estate, here to provide exceptional service with all your home buying and selling needs.  Please make sure to visit HPWtv and learn more about the various communities that make up the Triangle.

If you find these great tips interesting please check out my website at www.RaleighRealEstateSearch.com

The Benefits Of Home Ownership

The decision to purchase a home is exciting and a major investment for your future.  Because there is only so much of it to go around, real estate is the top choice for many investors and the desire for most families.  This article is designed to highlight some of the many benefits of home ownership and how buying a home can often turn the American Dream into a reality.

One of the most profitable markets in real estate is rentals, which means that many families are paying to live in a home that isn’t their own.  In some cases, renting a home is necessary.  For all others, the money that would be spent on rent could instead be used to pay a mortgage.  In fact, monthly rent payments often exceed that of a typical mortgage payment.  One of the greatest benefits of home ownership is putting money into something that you can call your own and knowing that the monthly payments are going toward your home’s equity.

Speaking of equity, many properties experience a growth in value as more development moves into the area or the economy strengthens through an increase in job opportunities.  If this happens, home values soar and owners can bask in the glory of their newfound profit.  When you purchase a new car, it depreciates the moment that you drive off of the lot.  When you buy a home, however, it has the potential to appreciate year after year.  There are few things in life that can offer you a return above and beyond your original purchase price, but a home can.

When you own a home, you will enjoy the freedom of decorating and making any changes that you choose without needing the permission of a landlord or property owner.  In addition, you may even be able to use your home’s equity to finance some needed improvements and/or repairs.  In some cases, these changes may even increase the value of your home.  An upgraded kitchen or bathroom, hardwood flooring or an additional room are examples of changes that could result in added value.

Another advantage of home ownership is the tax benefits that are available.  The interest paid on a home mortgage as well as most property taxes paid are tax deductible.  For additional information on deducting mortgage interest and property tax, consult the IRS or a tax professional.

In addition to providing yourself and your family with a feeling of stability and permanence, home ownership can also help strengthen your credit profile through timely mortgage payments and a steady financial history.

If you are looking to buy or sell real estate in the Raleigh, Durham, Chapel Hill, Carrboro, Pittsboro, Cary, Apex, Garner, Hillsborough, Wake Forest, Mebane or any of the Triangle surrounding communities, we are here to help.  We are your Triangle Area Trusted Advisors in Real Estate, here to provide exceptional service with all your home buying and selling needs.  Please make sure to visit HPWtv and learn more about the various communities that make up the Triangle.

If you find these great tips interesting please check out my website at www.RaleighRealEstateSearch.com

Home Buying Checklist: The Process Of Buying Your New Home

Tips for Raleigh, Cary, Apex, and Wake Forest home buyers.

Once you’ve made the decision to buy a home, it’s time to start thinking about what comes next.  Every buyer needs a checklist that will guide them through the process of searching for the perfect home, evaluating their choices and making a purchase.

Learn The Lingo

When you set out to buy a new home, you will need to familiarize yourself with various real estate terms, conduct research on the market value of homes in the area in which you intend to shop and learn the art of negotiation.  This information will help as you browse homes, talk with REALTORS® and get further into the buying process.

Get A Free Credit Report

Every 12 months, you are entitled to request a free copy of your credit report from each of the three major credit reporting agencies – Equifax, TransUnion and Experian.  You should make this request before you begin looking at homes in order to allow yourself enough time to identify and dispute any inaccuracies in your credit file(s).  When you approach a lender, you will need to make sure that everything is correct and up-to-date.

Get Pre-qualified

Pre-qualification is different than pre-approval in that it gives you a possible price range that you can afford, but does not guarantee you the loan.  Pre-qualification is important because it will help you narrow your search to include only homes that you can afford.  Knowing what you can pay beforehand will save you both time and disappointment in looking at homes that do not fit your budget.

Speak With A REALTOR®

Nobody knows the real estate business like a REALTOR®, so let them help you to find your new home.  Based on your specific requirements, a REALTOR® can locate a home that will suit you at a price that’s within your budget.  When he/she finds one or more possible candidates, you will be invited to tour the home.  At this point, you should take a camera for the purpose of later reviewing each house with visuals instead of relying solely on memory.

Make An Offer

Once you find the perfect home, make an offer that’s less than you are actually willing to pay.  This way, the seller can make a counter offer that would hopefully still be within your budget.  It’s important to familiarize yourself with the art of negotiation so that can learn how to get the best deal without insulting the seller.  If you have not yet been pre-approved, make sure that your offer is contingent upon your being able to obtain the necessary financing.

Obtain A Loan

Once you and the seller agree on a purchase price, you may be required to provide an earnest money deposit that will secure the home as you obtain a loan (if applicable).  A lender will require a home inspection and appraisal for the property in connection with your loan application.  In most cases, you will know within 24 hours whether or not your application is approved, but the actual closing will not occur until the inspection and appraisal are complete.

Get Moving

Now that the papers are signed and you have the keys to your new home, it’s time to get moving – literally.  Remember to decorate your new home and add all of those special touches that reflect your personality.  After all, a house is only a house until you make it a home.

If you are looking to buy or sell real estate in the Raleigh, Durham, Chapel Hill, Carrboro, Pittsboro, Cary, Apex, Garner, Hillsborough, Wake Forest, Mebane or any of the Triangle surrounding communities, we are here to help.  We are your Triangle Area Trusted Advisors in Real Estate, here to provide exceptional service with all your home buying and selling needs.  Please make sure to visit HPWtv and learn more about the various communities that make up the Triangle.

If you find these great tips interesting please check out my website at www.RaleighRealEstateSearch.com

What Causes a House to Sell

Tips for Raleigh, Wake Forest, & Cary home sellers that make a difference between expired and SOLD. 

 Real estate agents agree that four things cause a house to sell quickly:

   1)  Location

   2)  Condition

   3)  Price

   4)  Choosing the right Realtor^®!

The only real variables are price and the Realtor^® you select to market your home. There is nothing a Listing Agent can do to cause a home to sell for more than someone is willing to pay for it, no matter how convinced the Seller is that the property is worth more than the market value. But the Listing Agent can direct you on how to price your property correctly so that it does sell quickly for the most money possible.

Price forces sales! The trick is to find out how far to lower the price to find the market. This is what the economists call “finding the point of marginal utility.” It cannot be located with precision because it fluctuates constantly. We can only seek to find out what Buyers have been willing to pay for similar  properties in the current market.

Redecorating a home, holding numerous open houses, or putting more ads in the paper are activities that rarely produce a serious buyer for a home that has had a long, unproductive exposure to the market. Location, condition, price, and the Realtor^® you select will cause a property to sell; nothing more! The price must reflect both the positive and negative aspects of the location and the condition. The Realtor^® you select will make all the difference in directing you towards possible low-cost property improvements, showing quality improvements and they can even help you structure or amend the terms, in order to make the property easier to buy, but mostly, the price is the deciding factor.

The right Realtor^® won’t let you value your property at a price the market simply won’t bear. This will save you thousands of dollars in time lost on the market, interest or bridge loans. Most Realtors^® will tell you exactly what you want to hear — that your property is worth what you want it to be worth. We tell our sellers the true market value and back it with facts from recent comps available through the tax office and the Triangle MLS System and present a comprehensive market analysis on the home. We assist our sellers in arriving at a price that will sell their home quickly, for the most money and with the least amount of hassle.

If you found this post helpful please visit us online at RaleighRealEstateSearch.com

If you are looking to buy or sell real estate in the Raleigh, Durham, Chapel Hill, Carrboro, Pittsboro, Cary, Apex, Garner, Hillsborough, Wake Forest, Mebane or any of the Triangle surrounding communities, we are here to help.  We are your Triangle Area Trusted Advisors in Real Estate, here to provide exceptional service with all your home buying and selling needs.  Please make sure to visit HPWtv and learn more about the various communities that make up the Triangle.

One of the requests I receive from Raleigh area home sellers are for tips on preparing your home for sale, here is a great resource I have used for many years in the Triangle Real Estate Market.

Preparing Your House for Sale

            By Judy Richtel and Linda Morrell

The 15 second decision. It’s when buyers take a cursory glance at a house and decide whether or not to move on. Now that you’re ready to sell, you want that first impression to be positive. You know your house needs cleaning, removing clutter, fresh paint—and maybe even more. You don’t want to spend a lot of money. How do you know which improvements won’t strap your budget, but will help sell the house quickly and for as much as possible? 

Here’s how we helped a seller with a kitchen considered lovely in the 1970’s. It was a large rectangular room with attached pantry, loads of dark cabinets, orange Formica countertops, one paltry light fixture and no eating area. There was a lot of counter space by the sink but practically none near the stove, which was on the opposite side of the room. The home is in a high-end neighborhood, so in order for it to sell at a price comparable to neighborhood values, the kitchen needed updating.

But the sellers were hesitant to remodel because contractors and interior designers had told them that new cabinets were a must—to the tune of about $40,000. We suggested ways to upgrade the kitchen, make the house salable and spend less than $3,500.

First, we recommended that they replace the countertops with white tile bordered with oak molding. For extra pizzazz, they had a few tiles hand painted to match the flowered wallpaper in the adjacent dining room. Each hand-painted tile cost $15.00. If they don’t have staff who can do it, tile and flooring supply stores can usually refer you to people who can hand paint. Since tiles can be easily popped out, the hand-painted ones can be replaced with plain white if buyers prefer.

Then we encouraged the sellers to paint the kitchen, replace the light fixture with a fluorescent one ($250) and install a new vinyl floor ($1,500). We also added a bar-height table and two stools midway between the stove and sink, which created an eating area and additional workspace. The unfinished table and stools cost $300. The whole project cost about $3,100.

All the remodeling expenses were easily recouped when the house sold for $309,000 to the first buyer. Without the kitchen re-do, the house might have been on the market a long time and sold for only $275,000-285,000.

Our recommendations were geared to those things that create a positive first impression with buyers. According to Remodeling Magazine’s 1995-1996 Cost vs. Value survey of 300 real estate agents nationwide, buyers crave modern kitchens in nearly all market price ranges.

To Fix or Not to Fix

When evaluating a house that needs significant improvements to sell, ask yourself four questions:

1. What will keep this house from selling?  Is it simply excess clutter?  Or is it an outdated, dark and dreary feel; an electric system, a furnace, a roof, or plumbing, in serious need of repair; or an unusual floor plan, such as we found in the 1910 bungalow we remodeled? 

Problem:  The front door of the bungalow opened directly into the living room. The master bedroom was located immediately to the right of the front door. You could access the bedroom only from the living room or from a bathroom.

Solution:  To detract from the floor plan flaws and create an interesting entryway, we added an 8-foot-high decorative screen to block the entrance to the bedroom from the living area, thereby allowing access only through the bathroom. The screen contributed to the decor, created a focal point when entering the house, and hid the doorway to downplay the fact that the master bedroom was right off the living area.

Focus on those items or features that will hinder a sale, not on how to make the house look like a page in Better Homes and Gardens. Sometimes you might not even see problems until after you get feedback from potential buyers. That’s how we learned about some problems with a property in otherwise excellent condition.

Problem:  Its west-facing patio abutted common open space, creating a yard that had no privacy and was too hot in the summer.

Solution:  We built a storable, 8-foot high, redwood roll-up screen to block the sun and partly demarcate the yard. It cost $424 and the house sold.

2. Which of the identified improvements are minimally necessary to bring the higher price?  Recommend improvements that will change the look of a house and overcome buyer objections but are as simple as possible.

Problem: A house with a cement patio and overhang, both in terrible condition.

Solution:  We removed the overhang and covered the patio with redwood decking. The cost of the new deck was $1,300, much less than it would have been to replace the concrete for about $2,300. A new overhang would have cost about $650. This house was in a moderately priced neighborhood, so the new deck was enough of an amenity that an overhang was unnecessary. The house sold for full price within the first week.

3. How will you benefit from the proposed improvements?  It could be purely financial–selling the house for more than the cost of improvements–or it could mean selling a property that might otherwise not sell.

Problem:  A couple’s $600,000, 4,000 square-foot house had been on the market for nine years. They were resistant to making changes until it was clear the house wouldn’t sell in its current condition. Location was part of the problem, but compounding that, two of the bedrooms had walls covered with dark brown cork which was unsightly–and smelled. Cork can’t be painted. Removing it is almost impossible because it comes off in small pieces like shredded rice crackers.

Solution:  We built out the cork wall with drywall that provided a vapor barrier against the smell and could be textured to match the rest of the room. With some additional work on the kitchen and new carpeting, the house sold. Although the improvements cost $10,000, we helped sell a house for which there had been no buyers.

What’s the market doing?  Find out what’s going on in your marketplace and make changes that match the competition. New home construction is a good barometer because builders appeal to what buyers want. Model homes are masterful examples of how to use space and furnishings creatively for a fabulous first impression.

Pay particular attention to your immediate neighborhood. If two-car garages are standard but you have converted the garage into living space, consider reconverting it, adding a new garage if the land and zoning will allow, or selling for a lower price. 

Matching the competition extends to the type and grade of materials used. We suggested white tile to replace the orange Formica countertops in the kitchen example because in some parts of the country tile is considered a higher-grade material, and we were experiencing a large influx of out-of-state buyers. In other areas, consumers prefer Formica because they believe tile requires too much maintenance. In a very upscale house, anything short of Corian or marble might be unacceptable.

If you’re stymied about what to do, consider hiring an interior designer for a short consultation, at typically $75-$100 per hour. How do you find an interior designer who understands how to prepare a house for sale?  Interview a few people. Ask friends for references. Specify that you want to create that great first impression, but keep the cost of improvements as minimal as possible.

 Sometimes the bottom line is to get a home sold regardless of whether you get your asking price. Some homes are difficult to sell no matter how low the price goes.

Remember that the secret to successfully preparing a house for sale is to look for practical, cost-effective alternatives and to only solve those problems which must be addressed prior to selling.

If you found this post helpful please visit us online at RaleighRealEstateSearch.com

If you are looking to buy or sell real estate in the Raleigh, Durham, Chapel Hill, Carrboro, Pittsboro, Cary, Apex, Garner, Hillsborough, Wake Forest, Mebane or any of the Triangle surrounding communities, we are here to help.  We are your Triangle Area Trusted Advisors in Real Estate, here to provide exceptional service with all your home buying and selling needs.  Please make sure to visit HPWtv and learn more about the various communities that make up the Triangle.