There are a number of ways to
enhance your home’s appearance
BEFORE PUTTING IT ON THE
MARKET:
• Clean – Make your home appear
welcoming to potential buyers by
cleaning everything from ceiling to
floor. The more it sparkles and shines,
the more enticing it will appear.
• De-Clutter – Put everything back
in its place and out of sight to
anyone who comes in. Make sure
nothing is on the floor or out where
it shouldn’t be.
• Make Fixes – If something is broken
or out of date, be sure to make
appropriate fixes before allowing any
visitors. A leaky faucet or a hole in
the wall is sure to send a potential
buyer heading toward the door.
• Go Neutral – Perhaps one of a buyer’s
biggest frustrations is envisioning all of
Crunching Numbers
While the good news may be that the
housing market is on the upswing, the
not-so-great news is that interest rates
are too. According to bankrate.com,
the interest rate for a 30-year fixed-rate
mortgage on November 20, 2013, was
4.30; it was 4.50 on January 29, 2014.
The interest rate on a 15-year fixed-rate
mortgage November 27, 2013, was 3.47,
but rose to 3.56 on January 29, 2014.
And, because of new mortgage laws put
in place after the nation’s foreclosure crisis
a few years ago, mortgages are harder than
ever to get, with credit scores and debt-toincome ratios being closely scrutinized.
While it’s a common
belief that if interest
rates rise, housing
prices fall to make the
house more affordable,
that’s simply not true.
In fact, rising interest
rates often reflect a
stronger economy.
So, while there is
no direct correlation
between interest rates
and home prices, long-
the extra decorating work that he/she
will need to do prior to or immediately
after moving in. The more neutral your
house looks, the greater the appeal to
the buyer. A neutrally decorated house
may appear to be “less work” than one
that is overly decorated with exotic
paint or carpet colors.
• De-personalize – Remove anything
in the house that specifically
represents you or your family. Such
items will make it hard for potential
buyers to envision the house as their
own and will make it difficult for
them to be able to relate to the house.
term rate fluctuations can have an effect
on the volume of home sales, according
to the National Association of Realtors.
The association says that higher interest
rates can have a negative impact on home
sales, though prices can move according
to the relative supply and demand and
have generally increased in declining
sales markets.
The good news for potential buyers is
that there are a number of products on
the market designed to accommodate
different types of financial situations, so
it pays to do some research and educate
yourself on what might be available to you.
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West County | Summer 2014 | icmags.com 11