For homeowners aiming to sell their home and buy another, it's the classic real estate, which came first, the chicken or the egg, question - buy or sell first?
If you sell first, you may find yourself under a tight deadline to find another house, or be forced in temporary quarters. If you buy first, you may be saddled with two mortgage payments for at least a couple months. You may need the money from the sale of your original home in order to pre-qualify for a loan for your new home. You may be facing a job relocation and need to sell quickly.
There are many variables involved; there is no universal correct answer. It basically comes down to your specific circumstances.
One school of thought is that there is generally less pressure and stress when you sell first, which lessens the risk of owning two houses, or none at all.
If you have the money to make two mortgage payments, the pressure is off. But if you need to sell your house in order to qualify for a loan, then you have no choice - you'll have to sell first.
You can write a contingency contract, but if you really want the home, you'll pay more of a premium, if the seller will even entertain a contingent offer. If you go ahead with a contingent offer, then you may end up settling for less for the house you're selling in an effort to get it sold quickly.
Another advantage to selling first is having the time to get pre-approved for your mortgage and see all the housing options in the price range you'd like to buy.
When your selling house is in contract, pick the three best homes of those you've viewed and prepare to make an offer on the one that best meets your needs. The worst that can happen is the right home isn't available, and you end up in a short-term rental with the cash in your pocket and pre-approved financing for the balance you need. So you look like a cash buyer when you make an offer on the home you finally decide on.
But brisk selling conditions in some parts of the country require more aggressive tactics.
A strong market dictates that homebuyers focus on buying first, and selling later. In a fast market, buyers may obtain a mortgage commitment that is not contingent upon selling their existing homes. But, beware that a sale could drag on longer than you might expect.
Selling first isn't the perfect solution. Some of the issues that may come up include:
Being forced out of your house before you have a new place available. Where will you live? Where will your kids go to school?
Having to move twice. Do you want to go through the hassle? Where will you store your extra furniture while you live with family and friends or rent an apartment?
Not being able to find a house you like. How long are you willing to live in temporary quarters until you find a suitable house?
Whichever way you go, it always seems to work out in the end. You won't be homeless.
Written by Michele Dawson
REALTOR This article was published on: 03/01/2006 MAGAZINE ONLINE
Spiffing up REVIEWED BY KELLY QUIGLEY Housekeeping Made Easy
This Web site provides a plethora of tips that make it a breeze for sellers to get their homes ready to show.
One of the first major steps sellers must take before putting their homes on the market - besides finding a real estate practitioner, of course - is to clean each room from floor to ceiling. Windows must sparkle, lighting fixtures must shine, and tabletops must be clutter free. Depending on how long your clients have lived in the home, this step could be one of the hardest tasks to tackle. To get them started, refer them to this Web site for time-saving tips on cleaning, de-cluttering, organizing, and time management. They´ll find advice for virtually every area of the home, including the exterior. The site, heavy with articles and how-to guides, has a no-frills design that requires a lot of scrolling to view all of the articles for each topic - and many articles appear in more than one section. However, your clients will probably find that the tips are well worth those minor frustrations. These are some highlights:
Kitchens. Potential buyers will pay special attention to the kitchen, so it has to look its best. This section of the site houses articles and checklists related to keeping the kitchen clean. Sellers with limited time will learn about The 10-Minute ?New´ Look, aquick way to clean the most visible areas of the kitchen and other high-traffic areas of the home. Your customers can get their granite countertops sparkling with tips from Stone Care Made Easy, an article about cleaning natural stone surfaces. And to really speed up the cleaning process, sellers can Form a Family Cleaning Team.
Tools. When your clients need the right tool to get their home clean, they can learn about the latest and greatest products here. From Organizing tools to Furniture & Dusting products, they´ll find a little bit of everything.
Garages, Patios & Home Exteriors.With all of the focus on sprucing up the inside of the home, it´s easy to forget about the other important areas. Encourage sellers to put these Garage Organizing Tipsto use and to do some Exterior House Cleaningbefore prospective buyers arrive. If getting rid of the junk that´s filling up the garage and patio is a problem, sellers can learn about The Virtual Garage Sale as a way to get rid of their extra stuff.
Windows.Natural sunlight does wonders for the appearance of a home, so remind sellers to give their windows a good cleaning. If they don´t know where to begin, they can start by following these Window Cleaning Tips and learning simple strategies used by professionals for Painless Window Cleaning. Make sure they don´t forget to Clean Screens, too. It´s also important that any window coverings are free of dust and dirt, so share these Inside Tricks to Cleaning Window Shades and Blinds.
HC-Pedia. If sellers clearly don´t have a clue about cleaning, they may need to consult this dictionary of cleaning terms. Each term includes a brief definition, but a more detailed explanation - including suggested uses for cleaning products, safety tips, and advice for cleaning various surfaces - appears when you click on a term. For example, under the entry for Acoustical Tile Ceiling, you´ll learn that dirt can be removed by using a dry sponge. Or clean a Rust Stain by rubbing it with a sponge dampened in lemon juice or plain white vinegar.
Increase Your Odds of Selling Quickly, Think Paint
It can't be overstated - when it comes to buying a house, the first impression is everything. If you're selling or getting ready to sell in the coming months, one of the easiest and most dramatic ways to enhance that first impression is through paint.
Fresh paint makes your house look clean, bright, and inviting.
"Painting your house's exterior before you put it on the market give the biggest bang for your fix-up buck - if you use colors that conform with your neighborhood's decorating norm," says Eric Tyson and Ray Brown in their book "House Selling for Dummies (Hungry Minds Inc., 1999).
Agents agree that sellers shouldn't take curb appeal lightly, especially when so many buyers are doing their homework and looking at the exterior of houses before they even contact an agent.
Curb appeal is crucial. Buyers get a lot of information from the web now and I find that often they have already driven around with a list of addresses and have decided which ones they want to see, giving curb appeal a lot of weight.
The Rohm and Haas Paint Quality Institute, an educational resource for paint and paint-related coatings, offers the following tips for painting before selling:
If nothing else, paint at least the door, door frame, and foyer or first room the would-be buyers will see.
Use fresh, neutral colors. If you're painting the exterior, make sure the color blends in with the neighborhood. Opt for neutral whites, creams, or neutrals. The PQI says these colors appeal to the greatest number of people.
Whether you paint yourself or hire someone, make sure all the prep work is done - washing all dirt away, and patching and repairing any necessary areas on the surface before it is painted.
Paint railings, window frames, trim, and other accents to freshen up the exterior.
Promote any recent painting in your ads, flyers and online descriptions of your house. Homeowners and buyers place a high value on the painted appearance of a home. Include the date the paint job was completed and the quality of paint that was used.
If you're thinking about going with a different color, the experts say you should consider the architecture of the home. You should also consider:
What the house is made of. You can easily paint wood, brick, masonry, or aluminum siding. But if you have vinyl siding, it should only be painted the same color or a lighter color. Dark paint will absorb the heat and ultimately cause the vinyl to warp in the heat.
The fixed colors - roof color, wood, masonry, and stone.
The surroundings - houses and other buildings in the neighborhood.
And if you don't to paint the whole house, consider an eye-popper like the front door.
It is very important to have a home looking its best and that starts as soon as a buyer drives up to the home. One important tip is to paint the front door if you cannot paint the whole house. This brings a good feeling as you enter the house.
Another important tip is to get all your painting done before potential buyers view the house.
It is important to have all the repairs and paint done before going on the market. You need that "bam experience" from day one on the market. Anything less than bam and you're just helping the other homes in the neighborhood sell first.
Written by Michele Dawson
Create A Grand Entrance When Showing Your House
If you're selling your house, you've probably heard all about curb appeal. Once that first impression passes the test, the next thing that meets the eyes of potential buyers is the entryway -- so make it look good.
The entrance serves as the transition from outdoors to indoors and can leave an indelible impression in the mind of a potential buyer.
"Don't underestimate the importance of the entrance to your home," says Robert Irwin in his book, Improve the Value of Your Home Up to $100,000: 50 Surefire Techniques and Strategies (John Wiley & Sons, Inc., 2003). "It helps define the quality of your property when people enter. If your entrance exudes richness, buyers will think of your home as a rich property and be prepared to make offers accordingly."
And Irwin says the opposite holds true as well.
"If the entrance is shabby, then no matter how well appointed the rest of the home, 'shabby' is what will be imprinted on the buyer's mind."
Irwin says having flooring in the entryway that varies from the rest of the house is one way to set off the entrance. He suggests tile flooring, whether it's ceramic, marble, granite, or synthetic.
"In a sense it almost doesn't matter what type of tile you choose, since they all signal a fine entrance," he says.
An entryway is the place to make a statement. Italian ceramic tiles come in a range of colors; those from Mexico come in rich browns and reds.
"You want the tiles to accent your home, but not dominate it," he adds, saying you should impress the buyer, but make sure the rest of your house measures up.
The World Floor Coverings Association says you can tile a typical entryway for about $500.
Irwin also says a nice chandelier can do wonders for your entryway. Considered the jewelry of the home, lighting and other fixtures are by themselves of limited value.
"But when it comes to dressing up your property, they add value," Irwin says.
Irwin says most production homes fall short in the chandelier department. While they can be expensive, you can get a high-quality piece in the $500 to $1,000 range. He also says to keep your eyes open at garage sales and flea markets.
He suggests not going overboard and staying tasteful -- don't go with ones that are too big or gaudy.
"A fancy chandelier is a luxury," he says. "Buyers like to think they're purchasing luxurious homes."
Meanwhile, Cathy Whitlock, an interior designer in Nashville, Tenn., offers some general entryway decorating tips on the Home and Garden Television Web site -- tips that can help make your home more attractive to those picky buyers out there. They include:
Add plants. Ficus trees are good for traditional décor; palm trees are a good fit for contemporary.
Throw an area rug on the floor.
Use a chest or console table to anchor the area. Display a favorite collection or a lamp. Hang a picture or mirror above the table.
Paint a shade of yellow. It goes with everything so it's a good choice for an entryway, which flows to other rooms in the house.
Finally, make sure the area is clean and sparkling. If your entryway leads into a staircase, make sure the banister and railings are clean. Keep the area clear of the clutter that may otherwise accumulate during your everyday routines -- kids' backpacks, coats, mail, etc. Make sure the floor is always swept or vacuumed and make sure the entryway is fully lit, whether it's by a hanging fixture or a lamp.
For homeowners aiming to sell their home and buy another, it's the classic real estate, which came first, the chicken or the egg, question - buy or sell first? 
It can't be overstated - when it comes to buying a house, the first impression is everything. If you're selling or getting ready to sell in the coming months, one of the easiest and most dramatic ways to enhance that first impression is through paint. 
