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ON THE MARKET
Newsletter Archive
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Welcome to ON THE MARKET – July 16, 2007
A free newsletter from Hal & Jean Ward, Associate Broker and Sales Associate, Coldwell Banker Preferred Properties. www.centralutahhomes.com
Click here to subscribe.
WHAT’S NEW?
Changes in Mortgage Rates
Long-term mortgage rates are still creeping up. We expect to see interest rates settle between 6.5% and 6.8%. Those are still excellent rates; however Buyers may have to pay a little to keep the rate low. (They may see discount points, such as ¼ % of the mortgage amount charged for a premium interest rate)
Buyers may need to bring additional funds to the closing table, or sellers may need to offer to pay a part of the closing fees.
Sellers, it is not too late to pull out good equity from your home sale.
We have plenty of good seasonal market time left. But you must make your house stand out head and shoulders above the rest! Don’t waste time and money on items that won’t bring you a good return.
Call us, we’ll tailor make a list specific to your property that will bring top dollar in a softening market. You can also read tips in this year’s issue # 3 of ‘On the Market’ for instant tips in staging your home.
Buyers: get your credit in ‘A’ condition NOW!
Qualifying for a loan is getting tougher, and you’ll pay dearly for a loan if you have less than good credit. Pass up the temptation to spend! Save as much as you can, and you’ll be positioned to step into homeownership soon.
In this mid summer market, timing is everything. Over the next 3 months, you’ll want to watch the market day by day, week by week.
Call us, if we know what you are looking for, we’ll watch the market and call you when the right property comes up. But well priced properties in good condition won’t last long, whether it’s a buyer’s or seller’s market, so get any credit issues cleared up, and be ready!
Landscaping That Sells
Attractive landscaping will turn on curb appeal and eliminate discounts from buyers. It is one of the best ways to make a good first impression on prospective buyers and show that a home is loved.
A well-designed landscape can (and should) be simple and easy to manage. If you’re not comfortable with doing your own, get some help. Here are a few tips to insure your success.
For Home Owners on a Budget:
Landscaping doesn’t have to cost as much as your house. Start by trimming bushes and pruning dead limbs. Keep the grass watered, mowed and trimmed.
Clear away lawn art, toys and other "clutter."
- Make a neat clean edge between lawn and beds and add fresh mulch. Keep the beds weeded! It shows you care.
- Add a touch of color. A few potted plants can work magic, but don’t forget to water them. Dead plants say you don’t care.
- Make your front entry say, Welcome. Paint door and frame, add a plant.
If You are in a New Home:
- Soil condition. If you are in a new home with no lawn or landscape, the time and relatively small expense to amend your soil will insure your lawn and shrubs will survive nicely. Contact the Utah State University extension service, located in Richfield for more information.
- Drainage. The type of soil — sandy, silty, clay, or loam — will affect drainage. For example, clay soil may drain poorly, which can prevent nutrients and oxygen from reaching plant roots, but soil can be modified.
- Sunlight. Stand outside at different times of the day to see when, where, and how much sun strikes your yard. Then buy shrubs accordingly.
- Hardiness zone. Also referred to as climate zones, hardiness zones are a guide to help you know which plants will grow where you live, so you don't plant shrubs or flowers that will soon die just because they can't survive the region's temperatures.
- Make a Budget, Hire Help. A budget will largely determine the scope of any yard project. If home owners want to replicate the cover photo from a recent Fine Gardening magazine, they should be prepared to pay dearly. Plants, soil, and all the extras that make a garden picture-perfect, can really add up.
Practical Project Ideas:
Here are some simple projects that will make a big impact on the property’s appearance — and boost resale value.
- Plant trees. Trees look nice, cut down on heating and cooling costs, and will help a home sell for more money. Properly placing just three trees can save an average household between $100 and $250 in annual energy bills, according to the U.S. Department of Energy.
- Go for year-round color. Rather than make do with empty beds and a brown lawn in winter, home owners can pick shrubs that remain green all year.
- Install a sprinkling system. It will add $ value to your property and cut down your yard work. Drip systems work well in shrub beds, watering only the plants and not the bare soil. There are plenty of resources to help you lay out a good system with minimum cost.
- Fertilize. Feeding your lawn, shrubs and flowers will keep them healthy and beautiful. Ask one of the several yard care services what they recommend. (they often are able to apply the feeding/weeding chemicals cheaper than you can yourself, and they know what time of year to apply various fertilizers and bug killers for best results.)
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