There are many things a home owner can do to increase the value of their home. This can be done on the interior or the exterior of the home, from do-it-yourself for the smaller projects to hiring a contractor for the larger jobs. You can give your home a face lift a little at a time. Most home owners don’t have the finances for a complete over haul done all at once. To most people, their home is their largest investment and they would like to keep it in prime condition. Although the price of your home is mostly determined by the current market conditions, there are several things you can do to maximize your homes value.

1. Decorative moldings can be used throughout the home for interior to exterior, to trim doors, floors, walls, windows, fire places and ceilings. These moldings can be found at practically all home improvement stores and are fairly easy to install to enhance the look of any room.

2. Kitchens tend to be the greatest investment that many potential buyers look at the most. Replacing cabinets and counter tops, can be done gradually at your own discretion or you may choose a more creative way to improve the old ones by painting the cabinets and replacing the knobs or handles.

3. Vinyl windows are a great way to increase the value of any house. These windows function better than the old wooden windows by opening for easy cleaning and they conserve more energy in the months when heat or central air will be used the most. They do not require painting and they can really make a house look beautiful.

4. Adding a new roof can make a very strong impression. The roof is the first thing people see and this can play a strong role in how much your house will sell for. A new sturdy roof provides protection from leaks that make ugly stains on the ceilings in your house that can lead to more damage.

5. Installing vinyl siding, if you don’t already have it, this can add up to $10,000 to the value of your house. If you have fairly decent vinyl siding already, you can hire a power washing company to clean the siding and give your house a fresh new look.

6. Painting the interior or exterior of a house can transform a house completely with a few coats of paint. You can be as colorful and creative as you like and you can take your time doing so, one room at a time.

7. Flooring absolutely makes the difference in any room. Whether you use linoleum, tiles, wood or carpet, a new floor can make all the difference.

8. Adding new appliances such as a refrigerator, stove, dishwasher, washer and dryer can greatly improve the value of your home. Along with adding a new water heater, furnace and central air unit.

9. Exterior landscaping can enhance a homes value by keeping a well maintained yard to adding strategically placed flowers and shrubs. You can also plant an attractive garden or install a small fish pond. Deciding to install or replace a fence along your property line will also be a great attraction to potential buyers, especially the ones who have children.

10. Adding a new deck is a great asset to the exterior look of your home. These can be made from a variety of wood and sealed to preserve the natural appearance. A new deck will provide the outside recreational area to grill out, while relaxing in a comfortable patio set and enjoying the great outdoors and fresh air.

Adding value to your home can be as simple and as affordable as you want it to be. Most improvements can be accomplished a little at a time, all depending on your time and budget. Smaller improvements can be made by simply adding potted plants along the stairs up to your freshly painted front door or by adding a small table or work of art in your foyer.

A visit to the home improvement store or looking through magazines can spark creativity when remodeling your home. Even if you have no idea where to start, one spark can lead to another and another, until before you know it, you have created a beautiful home that you may never want to leave.

If you’re considering selling your home with out the use of a realtor, then you need to understand that there are conditions backed by laws of the state and federal government governing the sale of your home. By following the rules and regulations you will save yourself money, time and later possible unpleasant legal ramifications. All of these conditions must be investigated and settled before you attempt to advertise your home for sale. Ideally make sure you understand first the full responsibility of selling your home independently before you place your home on the open market, and realize that this is the first step in the process of home selling.

Most states in the US require that if you’re selling your home whether through a real estate agent or as a FSBO (For Sale by Owner) you must give to a potential home buyer a Seller Disclosure of Property Conditions form. This form discloses information about your property that would affect the living conditions or the resale able value of the home. Disclosure of property conditions includes any past or current problems with the property. Check out the different categories of property disclosure, and make sure that you list the necessary information required under each one. This list may or may not include issues that you would need to be concerned about, so make sure to check with your state and local agencies for complete information.

House Systems – Includes areas such as plumbing, electrical, appliances, doors and windows, security system, pool, sprinklers, sump pumps, cooling and heating.

Foundations/Structures/ Basements – Includes leaking and repair issues and drainage problems surrounding the house.

Roof – Includes age, leaking and repair issues, second and new roof installation, time frame of roof repairs, and when or how often the roof leaks.

Land/Drainage – Includes soil permeability issues such as drainage or flooding problems, or are there any other water sources such as a lake, spring or creek.

Boundaries – Includes survey issues such as boundaries of property line, markage of known property lines by what means, such as moveable property stakes as rocks or trees. The allowable property easements for your area, as well as any other obstructions to property such as encroachments by other property owners.

Water – Includes source of water and water pressure issues, and purification systems and tests conducted on water quality.

Sewer System – Includes how property is serviced for sewage waste, such as septic, public utilities or cess pool. Dates of inspection and known sewer problems.

Construction/Remolding - Includes information on any new buildings or remolding to existing structure, and the necessary building permits.

Homeowner’s Association – Includes information of any homeowner’s association rules and guidelines.

Miscellaneous – Includes many areas to numerous to list, but some areas of information encompasses testing for radon gases, termite damage, abandoned under ground storage areas such as septic tanks or cisterns. Issues such as warranties, legal actions, or weather related damage such as tornadoes.

Just as important as you’re state and local laws is the federal laws that regulate selling your home. Two issues of primary importance are disclosing lead paint and the conformity to the fair housing laws. According to federal law you must disclose if your home was built or remodeled before 1978. This law was passed and is now enforced by the EPA (Environmental Protection Agency) because of test results that show that lead based paints can cause detrimental affects on human health, especially in babies and small children. Lagging mental function and stunted growth can occur if sufficient amounts of lead based paints are consumed or particles inhaled. Disclosure of test results and the opportunity to test is federal law. Also, fair housing laws require adherence to the selling of your house, although if selling as FSBO the regulations are a bit more lax. The Fair Housing Act, under the Civil Rights Act of 1968, requires that sellers may not discriminate when selling a property. Discrimination is not allowed based on race, color, national origin, religion, sex, familiar or handicapped status.

Another area to consider before you advertise your house for sale is how to weed out the lookers among the potential serious buyers for your home. Many FSBOs can request that buyers become pre-approved by a financial institution before a bid will be accepted. During the home tour you can set parameters too by inquiring on the buyer’s ability to quickly obtain financing. You might not want to wait while they must sell their house first in order to buy your house in a timely manner.

Sticky decisions concerning the contract should fully spell out the conditions of the sale, such as any deposits that are required and the ability of the buyer to have their deposit returned. Protection is provided to both when a contract is clearly written for both parties, as for example the ability of you to keep any monies from a buyer that backs out because of an unjust cause. Always make sure to consult an attorney when writing up your contract to sell your home. Remember too that laws fluctuate from state to state and being prepared is the best defense against an unsold home.

There are several things that should be avoided before purchasing a home. If you aren’t careful to avoid these common mistakes, it is possible that your closing will be delayed or even canceled. Your adherence to the following rules will put the keys to the house in your hands quickly.

First, don’t damage your debt to income ratio by making a major purchase before closing. If you decide you can’t live without that brand new BMW, you might have to wait on owning a home. The bank could easily determine that your sky high car payment would hinder your ability to pay your mortgage. Wait until after you get the house to do some spending. No one expects a brand new house full of furniture and a sports car in the driveway unless you are a famous sports figure or Donald Trump.

Secondly, don’t change jobs if you don’t have to. The lenders like to see consistency versus constant job hopping. If you are just miserable with your job, maybe you can switch to a different job within the same field. Or you can tough it out until you have the house and then start putting out resumes.

Also, you should never surrender your earnest money to a For Sale by Owner Seller. There isn’t anything stopping the sellers from spending the money before the transaction goes through. If the deal should fall through, the buyers would have to fight tooth and nail to get that deposit back. You should put the deposit into a trust account. You should be able to find an attorney willing to hold the deposit for you until the transaction is finalized. Your contract needs to state what will happen to the deposit in the event that the transaction falls through.

In addition, never let emotions guide you. Stay practical and realistic during the home buying process. Some sellers are willing to fix some of the problems with the home and others may not be as willing. Don’t let that refusal close the door on your dream home. Conversely, you shouldn’t let your loyalty to the home blind you to costly repairs down the road. You certainly don’t want to be in a money pit.

Furthermore, don’t forget to have the utilities activated. The utility companies might need a few days to switch the service. Don’t forget to cancel the service at the old residence. That seems simple enough, yet many people forget that step entirely.

Another costly mistake might be forgetting to secure hazard insurance. Talk to your insurance company right away because the lender will want to see proof of coverage for the new home at closing. Failing to line up the insurance will lead to delays in closing.

You should not get too personal with the seller. After all, this is a business transaction, so it should be treated professionally. If you get into too many personal discussions, you might say something that could be taken the wrong way by the seller. You might have been joking about the ugly green carpet in the guest bedroom, but the seller might have taken that as offensive. In the end, it could hurt the dynamics of the transaction. You should be friendly, but professional.

If the appraisal comes in too low, don’t freak out. There are several solutions to this dilemma. The seller might be willing to come down on the price of the home. The buyer can put more money down if they are committed to that home. The buyer and seller can negotiate the deal or the appraisal can be disputed.

Don’t forget to use your agent. It is the agent’s job to keep up with the daily details of the deal, including the lender, the seller, and the seller’s agent. It is also your agent’s responsibility to set up a final walkthrough prior to closing.

Lastly, don’t forget to take care of your end of the deal. You must be on the same page as the lender. Provide them with the paperwork they need and answer their questions in a timely manner. Failure to do so will keep you from opening the front door of your new home.

These are some of the most common mistakes home buyers make. Educating yourself about the process will ensure a smoother transaction and a definite housewarming party.

Ecommerce is rapidly expanding to the real estate market.  Sellers are looking to auction off down payments, lease agreements, or selling the home outright. Individual homeowners and real estate agents are turning to the Internet as an avenue for sales.  Buying your home online can be a risky venture.  On the flipside, there are some great deals out there.  If you decide to take this path, you should be aware of the challenges associated with buying a home site unseen.  The more educated you are, the better. 

First of all, the home could have major structural issues not evident in an online picture.  Pictures don’t always tell the whole story.  It has also become much easier to doctor photographs.  You have to consider the possibility that some sellers might not be as truthful as they should be.  After all, they are trying to sell the property, so the sales description is going to emphasize the positives and downplay the negatives.  Getting a fixer upper is one thing.  Living in a house that is structurally unsound is a completely different matter. 

Secondly, you must make sure that you know your property rights.  If you are buying land, you must make sure that you can have the utilities you want.  There might be restrictions that are not specified on the auction site.  There would be nothing worse than buying the property for your dream home and then discovering that you cannot have utilities.

Another potential hazard to buying your home online is not knowing anything about the area.  It would be well worth your time to do some investigating.  Is the property in an area that is prone to flooding?  Is the property accessible by car?  These are things that the seller might not mention in their ad. 

Also, it is easy to become a victim of online fraud.   There is really no way to regulate the online auctions.  The auction companies have their own guidelines in place to circumvent illegal activity, but with the high volumes of online business activity every day, it is hard to police every transaction.  The government may eventually step in and try to pass laws that will protect online consumers.  Time will only tell, so until then you have to keep your guard up.

On the positive side, it is important to note that online auctions are not legally binding.  The companies are not actually licensed to sell real estate; therefore, they are not true auction houses.  The service that they offer is advertising to potential buyers.  It gives buyers and sellers the opportunity to communicate with one another online and work out a legally binding contract after bidding ends.

When placing an ebay bid online, you should be aware that there are two types of bids: “Binding” and “non-binding”.  The term binding is not entirely accurate because it does not result in a legally binding contract. A Binding real estate auction means that you have placed a bid with intent to buy.  If you don’t live up to your end of the transaction, you will receive negative feedback.  It won’t result in legal problems, but it can hurt your business potential on Ebay.  Everyone looks at the feedback and most people won’t do business with someone if they have a lot of negative feedback.  A non-binding bid simply means that you cannot receive negative feedback if you fail to complete the transaction.

Always take the time to review the auction companies’ policies and procedures.  There should be a link to them on the main page.  If you have trouble locating them, contact the company directly.  You should be able to email them any questions that you may have and they should respond to your inquiries quickly.  Try to talk to people that have a lot of experience with doing business online.  It seems like just about everyone has some experience with online auctions.  They may have some horror stories, but don’t let that discourage you.  You can learn a lot from the mistakes of others.  If you prefer reading to chatting, there are also several books about the subject.  Visit the technology section of your favorite bookstore and you are bound to see a possible resource. Take all of the advice and use common sense when entering into an online real estate deal.  You will emerge as the winner and have a fabulous home to show for it.

Maybe you’re buying your first home or maybe you’re just considering upgrade residences. Either way, you’re going to need a mortgage to pay for your new home. Should you apply at the bank for a loan or should you take advantage of a mortgage broker’s services? The decision really depends on a variety of factors, but most important is your personal preference and needs.

How do mortgage brokers differ from loan officers? As an employee of a bank or lending company, a bank loan officer processes loans and mortgages for his or her employer. The main difference between loan officers and mortgage brokers is that mortgage brokers are not employees of a particular lending company; they are independent or freelance agents. Mortgage brokers can work with just a few or even hundreds of lending companies whereas a bank loan officer is an employee of one particular bank. Though a bank officer may be able to offer a few different types of mortgages, they all originate from just one place whereas a mortgage broker works with tens or even hundreds of companies to get you a good interest rate and terms for your mortgage. It is a mortgage broker’s job to bring together borrowers and lenders – for a fee, of course. A mortgage broker is essentially a go-between. They do not lend you the money; they find the people who will lend you money for your new home.

Mortgage brokers do a lot more of the research for you. They evaluate you as a homebuyer, and taking into account your credit standing, they decide which lender will best suit your needs. A mortgage broker submits the loan application on your behalf and works with you until it goes through. You can do this research yourself if you have time, but a mortgage broker has a working relationship already established with many of these lending companies and that may result in a better deal for you. Mortgage brokers secure loads through many types of investors including investment banks, savings and loans and even private sources.

Most of the mortgages you may have seen on the Internet are put there by mortgage brokers. Many in-person or online mortgage brokers have connections to lenders in all different parts of the country, which is something that has its own pros and cons. You may end up getting a better rate, but an out of Area Company may not have the necessary knowledge of property in your area or specific property features and classifications. In the longer run, this probably won’t be an issue; there just might be a slight delay in processing your application until all terms and questions about the property are answered.

If you’re having trouble securing a loan from a bank, a mortgage broker may be your best bet. Mortgage brokers are often able to find a lender for applications that banks refuse. So there is hope if your local bank has turned you down – you just need to expand your search for a lender to online banks or a mortgage broker.

To prepare for a meeting with a mortgage broker, you should obtain copies of your credit history. Though a mortgage broker is able to do this, it will save time and hassle if you bring these with you to the initial meeting. The mortgage broker will be able to give you a much clearer idea of the type of loan and terms he or she can secure for you if they know what your current credit situation is.

You do need to remember that mortgage brokers get paid a fee for the transaction so they are working for their own interests as well as yours. The higher a rate they get for the lending company, the more their commission will be so let them tell you what terms they can obtain rather than what you’re willing to accept.

Remember that everyone’s needs are different. Talk to family and friends and see whether they secured their mortgage through the bank or through a mortgage broker. Do some investigating to find the best loan terms and transaction time. Your real estate agent may also be able to make some useful suggestions or even refer you to a suitable mortgage broker.