3627 Pine Needles Dr Wake Forest FMRealtyWith over 14,000 homes for sale in the Triangle real estate market as the spring season has begun, undoubtedly these home sellers are constantly ensuring their home is “ready for show”. Whether it’s because the professional photographer will be coming soon to take new (or updated) pictures of their property or their agent has an Open House scheduled this weekend or perhaps their agent has called them to advise of a showing appointment, either way these home owners are challenged with doing all they can to make their home look good for the potential buyer.

What if you don’t have a front entry way? For some homes on the market, the front door opens directly to the living room. With the lack of a foyer or some identifiable space separating living from entry, potential buyers might have a difficult time picturing their furniture and belongings in your space. You can help them visualize that! Here are some suggestions -

  • Move furniture around to create a sense of separation. Whether it’s a long couch or love seat or even two wing back chairs separated by a table, place that furniture so that it’s facing into the living room and away from entry.
  • Add a focal point to the wall adjacent to the entry. Use the furniture you currently have even if it comes from a different room. Then, add some decorative items including storage options like baskets or pretty boxes if you have open shelves.
  • Add a cute rug at the foot of the door (or add a runner) that goes with the decor in the space but is also functional.

In fact, the folks at HGTV created this short video with additional tips to help you visualize your space so that you too can make it cute, functional and welcoming to the potential buyer -

Remember, now that your home is on the market, it’s important to always keep it looking fresh and new for the potential buyer. In other words, have it “show ready” as much as possible, and if you don’t have a front entryway, you can at least create the illusion of one by strategically placing furniture and adding a few accessories.

For more tips for selling your home in the spring market, check out our past blog posts here.

Image of 3627 Pine Needles Dr Wake Forest courtesy of FMRealty.com. Image current at time of publishing.

 

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The following contribution is by Scott Mulder, Renovation Loan Specialist with our FM Lending office in Raleigh. Thanks for sharing your expertise, Scott!

The past year has sprung a flurry of activity in renovation financing after it had begun to slow in recent years.  More banks have started to put money into their foreclosed properties to remedy needed repairs, but low inventories have led more buyers to discover renovation programs.  These low inventories can create advantages for buyers who are aware of their options to renovate:

  • They are ready to act when a home needing work comes on the market.  These buyers have already spoken with a contractor and are prepared to obtain a quote prior to putting an offer on a home.
  • Rather than waiting for the home they want in the neighborhood they want to become available, they can just wait for almost any home within their price range in a neighborhood to become available and make that home their own.
  • Homes that have been sitting on the market for an extended period of time can present tremendous discounted values.  This is especially applies to homes over $200,000 where many investors are priced out of the market.

Living Room Reno Before Tami Hills FMRealty Living Room Reno After Tami Hills FMRealty

 

 

 

 

 

(Here’s a before and after of a living room renovation courtesy of Tami Hills via Flickr and Creative Commons)

Why are renovation loans not used more often?

Renovation loans have had a long standing stigma that they are only for homes that are in severe disrepair or homes where something would cause the property to not qualify for regular financing.  Often times many buyers are surprised to hear how much a renovation loan can open options in their property search.  The options are nearly endless as long as the proposed work is affixed and adds value to the property.  Some examples of eligible repairs that are commonly thought to be ineligible include:

  • Adding a garage.  A detached garage can be built as long as the home does not already have a garage
  • Granite countertops.  Luxury items are not allowed, but upgrades such as granite counters are not considered a luxury if they are customary to an area.
  • Adding square footage.  The foundation of a home can be added to, but not subtracted from.
  • Repairing structural damage.  Many banks only offer a renovation loan that cannot include structural work, which is the FHA Streamline 203(k).  As FM Lending has a dedicated renovation specialist, they are able to offer three different programs; the FHA Streamline 203(k), the FHA 203(k), which is commonly known as a “Full K” and the Fannie Mae HomeStyle® renovation.

Whether looking for that fixer-upper or wanting to truly make a home your own, be sure to ask the mortgage experts at FM Lending how a renovation loan could benefit you.

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A Chapel Hill Restaurant Special for Every Day of the Week!

March 17, 2015

The following contribution is from our Fonville Morisey Chapel Hill Sales Office…and it’s making our mouths water as we type! Thanks, Y’all for the inspiration. As real estate agents serving clients in Chapel Hill and surrounding communities, we often get asked about our favorite places to dine in the area. So, we thought we’d not […]

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REALTOR Tip: Adding Curb Appeal on a Budget When Selling Your Triangle Home

March 12, 2015

We continue our series this month on getting your Triangle home ready for sale this Spring with our next topic – curb appeal. First impressions are so important…and the very first impression a prospective Triangle homeowner will have of your home is of its exterior. Whether it be siding, windows, front entryways/porches, driveways (paved or […]

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REALTOR Tip: Decorating on a Budget When Selling Your Triangle Home

March 5, 2015

Last week, we showcased five of our favorite tips for getting your home ready for sale in the Spring. This week, we want to expand on that a little deeper and talk about decorating on a budget, especially when you have your home for sale in the Triangle. Your REALTOR® has probably told you to […]

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REALTOR Tip: 5 Tips for Getting Your Triangle Home Ready for Sale in Spring

February 27, 2015

Winter’s end is near. We can feel it! In fact, March 1st is this coming Sunday and according to the forecast, temps could reach the low 60s by Wednesday. Spring is in the air! As a Triangle homeowner, perhaps you have made the decision to sell your home. You could be downsizing (or up-sizing!), relocating […]

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FM Lending: Making Sense of Mortgage Insurance

February 17, 2015

The following contribution is by Leisa Fallon, Senior Mortgage Consultant for FM Lending based out of our Wake Forest Sales Office. Thanks for sharing your expertise, Leisa! Making Sense of Mortgage Insurance – Who Pays and Why? Including a couple of great savings opportunities from FM Lending. Read on! Mortgage Insurance (MI) is added to […]

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Celebrate Valentine’s Day 2015 in Wake Forest and in Raleigh!

February 12, 2015

The following contribution is provided by our Fonville Morisey Wake Forest Sales Office. Thanks, Y’all! We’re two days away from THE most romantic day/night of the calendar year – Valentine’s Day! With today’s news that Raleigh outranks other North Carolina cities for celebrating Valentine’s Day in terms of budgeting, activities, and gift accessibility, we thought […]

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REALTOR Tip: The Advantages to Selling Your Home in the Triangle in Winter

February 5, 2015

The following contribution is a collective provided by the Sales Associates at our Fonville Morisey Wake Forest sales office as part of our “Branch Bits” series. Many thanks to Danny Van Orsdale, Dave Harney, Donna Thompson, Anthony Laurie, and Keith Dabal for sharing your expertise! Selling your Triangle-are home in the winter months actually has […]

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One Family Finds Success in Relocating to The Triangle Thanks to Their Real Estate Agent!

January 29, 2015

The following contribution is by Cindy Levesque, Sales Associate with our Fonville Morisey Stonehenge Sales Office. It’s always nice to hear the stories of how our Triangle residents get here and find their perfect home! As a real estate agent serving Raleigh and the communities that surround our State Capital, I get to work with […]

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