How to Organize a Closet For Selling Your House

How to Organize a Closet For Selling Your House - What to Do With Your Stuff

If you are planning to list and sell your house, then you will have to get mean with your stuff. You may be used to seeing it, but for those important "showings" you need to make it look like you have a lot of space, so just how do your organize a closet to look like a showroom and not like you really live there? It is not too hard once you get started.

How to Organize a Closet - If you have been cleaning the house and clearing clutter, remember you can't just stuff it in the closets, as that is one of the first places people look when going through a house. A real estate agent friend of mine, once told me, that when he brings clients through a house for sale, they instantly open closets first, then kitchen cabinets and so on. So, they need to know they have enough space in your house for their own stuff. So you can't jam it all in the garage either!

So, the point of this exercise, is to look like you have clean, organized and roomy closets. To organize a closet to look clean, simply means, taking a lot of it out. But you may want to go further than that. If you have one of those closets where the kids open the door and kick their shoes inside it, (you did tell them to put their shoes and boots in the closet right?) more than likely there are marks on the walls. Closets take a beating, and many times they don't even get a coat of paint at all, or maybe just the painters grade in new houses.

Closets get forgotten when it comes to painting a room, because no one wants to empty them, so they may be sporting the same color as the bedroom color which may now be totally different.

These marks and dirt may not show up much with a stuffed closet, but if you want a showroom style closet, you need to empty it right out. Lightly wash the walls and then paint it. I know this seems like a lot of work, but nothing looks cleaner than a fresh coat of paint in a closet. Stick to your neutrals or the same color as your trim. Not dark colors, something light and fresh. Make sure you cover the carpet in the closet with a drop cloth.

Once you have it painted, then clean the carpet that is in there too. You don't want dirty carpet in there. If it is really bad and you can't replace it, purchase a nice looking mat to sit on the carpet in there, and place a few pairs of nice shoes on it, so it looks neat and clean.

Closets tell a prospective buyer a bit about you. If they are jammed to the ceiling, this will not look good. They can't see what shape the walls in the closet are in, and now assume they will have to paint in there, plus the fact, it looks like you don't have enough storage.

Now you need to deal with all the stuff you dragged out of there. If you have the time, you should quickly separate this stuff into 3 piles. The stuff you will keep, the stuff you will give away or donate, and then garbage if you have totally worn out sneakers.

Once you have the closet all nice and clean and freshly painted, now it is time to take your keep pile, and you may have to thin this out a bit too. So, if you have a lot of stuff that still needs to go back into this closet, then get yourself a plastic tote, and take the seasonal stuff you are not using right now, and tuck away in this tote.

Now nicely put other things in this closet. I was told by my friend the agent, that putting clothes or coats on a hangers so that they don't touch, makes the closet look big and roomy.

Take your tote with the stuff you want to keep and along with other things you have taken out of the house, and invest in a rental storage unit, just while your house is for sale. You may think this seems like a waste of money, but by getting the extra stuff out of your house and closets and off the property is the best way to show your house. No point in clearing clutter and spending all that time on organizing closets, just to have it all piled up in the garage or shed. They will find it!

Remember, they are looking to buy your home, if they come across a area filled with boxes and totes from cleaning out the house, then they are going to believe that you don't have the storage room in this house.

So do the above to all your closets, and clear out some clutter from the main living areas, and then rent that unit. Your house will look clean and organized. It may seem hard to live in it like this, but if you store off season things and things you don't use much or won't need for the next month or so, your house will look like a showroom, and it will be much easier to keep clean for those last minute showings.

So, if you want to know how to organize a closet to look showroom great? Recap: clear it out into 3 manageable piles to go through for keeping or donating or throwing away. Clean and repaint the inside of the closet, put things back in and don't let the hangers of selected clothes touch, to give the impression of lots of room. Then rinse and repeat for the other closets in the house.

Remember, when you are restocking your closet, don't put your stinky old sneakers back in there, or your dirty laundry, keep your best shoes on the floor in sight, so it looks like you do live there, but neatly!

Source: "How to Organize a Closet For Selling Your House - What to Do With Your Stuff", InfoBarrel

Tips for Showing Your Home During the Holidays

Tips for Showing Your Home During the Holidays
by Michele Dawson

While the holiday season is a hectic time to show and sell your house, there are distinct advantages to staging and showing your home during the holidays - you have a chance to show your home at its very best, adorned with warmth and cheer sure to charm.

Nothing is more inviting than a home brimming with greenery, twinkling lights and holiday decorations.

So as you set out to win over a holiday homebuyer during this traditionally slow time of the year, keep the following in mind as you prepare to show your house:

•Curb appeal. First impressions are important. If you live in a snowy area, make sure walkways are cleared. Or if late fall leaves are littering the ground, be sure to clear them away. Also make sure the path to the stairs is free from ice.

•A few exterior holiday lights or decorations shows pride in ownership and seasonal cheer, but keep in mind that while exterior lights are beautiful at night, they don't add anything during the day when potential homebuyers will be looking at your home, so you don't want to overdo it. Another thing to consider: would-be buyers may view it favorably if the homes are brimming with lights - it shows unity and neighborliness - so you'll want to find a tasteful balance.

*Trim outdoor trees so unexpected winds don't knock down branches that could damage your home or hurt anybody.

•Place a nice welcome holiday mat outside your front door.

•Make sure your door area is clear from bicycles, toys or parcels left by the mail carrier.

•Hang a festive wreath on your door.

•Play holiday music in the background.

*Keep the house cozy. Entering a cold house could leave a lasting chilling impression. Instead, set the thermostat at a comfortable temperature.

•A toasty fire. If you're only stepping out while an agent is showing your house, start a fire in the fireplace. Nothing says home more than a nice cozy fire. But never leave a fire unattended.

•Your tree. This year you'll need to think about your tree more than you usually do. For starters, if your house is on the small side, get a smaller tree. You don't want the tree to appear to take over the entire living or family room. Likewise, you don't want to cram too much furniture into a room just to get the tree to fit. Remove furniture if necessary.

*Keep decorations on the conservative side. Not all home shoppers may celebrate the holidays in the manner you do. You don't want to overwhelm anybody with abundant displays of holiday cheer. You want your house to be noticed, not your decorations.

•If your house is being viewed in the evening, let your agent know which tree and other holiday lights should be turned on. And be sure the agent turns the lights off or you have a plan to be home immediately following the showing.

•Bake holiday cookies and treats often. The enticing smell will be welcome to those viewing your house.

•Be especially careful about ensuring your home security system is turned back on after agents show your house, especially if you have gifts under the tree.

•Windows. Make sure your windows are sparkling clean.

•Let the light in. Open blinds and curtains and turn on interior lights to reduce the dreary lighting that pervades in the dark winter months.

•Leave some holiday treats and hot chocolate for your guests.

Finally, keep in mind that the holiday adornments should accent - not dominate - the house. You want to convey the love, comfort, and joy your family has shared in the house. If conveyed successfully, a new family will be anxious to move in and carve out their own holiday memories.


Source: "Tips for Showing Your Home During the Holidays" by Michele Dawson, Realty Times

Moving: Packing Tips

Moving: How to pack your home

* Wear shoes with good arch support and full-foot coverage. If weather permits, also wear long sleeves, jeans, and socks to help avoid injuries.

* Gather supplies: boxes (small, medium, and large), packing tape, roll of bubble wrap for fragile pieces, permanent black markers, band-aids, ice packs, pain reliever, trash bags, a wardrobe box for each person in the house, a good sense of humor, and anything else you’ll need.

*When acquiring boxes, make a stop at your local liquor or wine store to grab a few boxes with divided inserts. These boxes are perfect for safely transporting alcohol and other kitchen liquids like vinegar and olive oil. (If moving across state lines, check regulations for transporting alcohol and make certain to abide by these laws.)

*Make a hotel reservation for the night you arrive at your new place. Your goal will be to get the best night’s sleep possible so you can start refreshed for your first day of unpacking. You’ll also want a shower after moving stuff all day, and it’s best to not have to worry about making sure these things can easily happen.

*Clear floorspace in your home in four different locations and mark each area: Packed Boxes to Move, Charity Donations, Giveaway/Return, and Sell. These areas are where you will put these items until you’re finished packing your things. You will likely need at least a 10′ X 10′ area to hold the Packed Boxes to Move. Also, the area holding items you intend to sell should be easily accessible from the front door or in your garage so that potential buyers can see the product without having to climb over boxes and mess in your home.

*If you have children under the age of five, see if a grandparent, friend, or babysitter can keep your child occupied while you work.

*Your first act of packing should be a suitcase with two weeks of clothing and supplies. Be sure to include your toothbrush and toothpaste, a couple bath towels, soap, shampoo, hair dryer and anything else that is part of your daily hygiene routine.

*Your second act of packing should be an essentials kit — but don’t tape it up! These will be the last items you take out of your current house and the first items you unpack in your new place. These will be things like cleaning supplies, two or more rolls of toilet paper, a frying pan, a few paper plates and plastic utensils, sheets for all the beds, and anything else you will need the first couple days in your new place.

*Make large print signs for your new home with room names: Living Room, Family Room, Master Bedroom, Sally’s Room, Sally’s Bathroom, etc. These signs will make it easier on you and anyone helping you move boxes into your new place. Bring a roll of painter’s tape with you in your essentials kit and plan to hang the signs immediately upon getting access to your new place.
As you move throughout your home packing boxes, I recommend starting with the heaviest items that will form the base of your Packed Boxes to Move area. Books are almost always a good item for this. Use small boxes, and group similar types together (cookbooks with cookbooks, children’s books with children’s books).

*Label the top and all four sides of a box with a short explanation of what is in the box (Toys) and what room the box should be placed in at the new house (Bobby’s Room). You want to label the top and sides so that the box can be facing in any direction and you can still know what is inside it and where to take it.

*Try your best not to mix different types of things in boxes (your shoes shouldn’t be with your coffee mugs). If this is unavoidable, at the very least do not mix items that belong in different rooms. Only pack kitchen things with other kitchen things, bathroom things with other bathroom things, etc.

*Sort and clean everything before packing it. If you never plan to use eight vases, put some of the vases in the Donate to Charity pile. The key is to not pack to move ANYTHING you don’t want in your new home. Clear the clutter now so you don’t have to spend time and energy moving it.

*Only use trash bags for trash. This will keep you from accidentally throwing something valuable away. If you want to use trash bags for transporting charity items, use differently colored bags (black for trash, white for charity) and write DONATION in big letters on the bag. Be sure to let the ink dry before using the bag.

*Set packing goals the same way you set other goals in your life. Be as specific as possible: Pack the living room on Monday, the garage on Tuesday, or whatever systematic method works best for you.

*Take breaks at least once an hour for five or ten minutes. Your sanity depends on it.

 Source: "Moving: How to pack your home", Unclutterer.com

How to Buy a Second Home

How to Buy a Second Home

by Shannon O'Brien

 

Lots of things are better in twos: heads when making decisions, aces at the blackjack table and houses. That is, if you can afford two of them.

Sometimes the good stuff comes in twos by accident.

Cheryl J. owned a lovely two-bedroom condo in Las Vegas. When she married and got pregnant (with twins!) she and Jack decided to purchase a single-family home with a yard for the kids. Because the market was depressed, they kept the condo, renting it out.

 

Whether you decide to purchase a second home for a vacation retreat or to make some extra income, if you can afford it, it’s a great investment. Affordability, however, is the main criteria when considering a second home.

 

Can You Afford to Buy a Second Home?

 

If you’re less-than-wealthy, you’ll need to crunch some numbers to ensure you can truly afford a second home. Remember: it’s not just the purchase price that needs to be affordable. Plan on the same ongoing expenses with this house as you have with your primary residence: taxes and insurance, for instance.

Then, factor in the additional expenses involved with owning a home that you don’t live in full-time, such as hiring a property manager.

 

If you can’t charge enough in rent to cover the monthly expenses, you’ll need a cash reserve to help out. Financial managers recommend that you stash away enough money to cover a year’s worth of rental income and maintenance.

 

Qualifying to Buy a Second Home

 

Once you’ve determined that you can truly afford a second home, if you can’t pay cash for it, you’ll need a mortgage loan.

You’ll find that the qualifications for a mortgage on a second home are a bit more stringent than when purchasing your first home, according to the experts at Dow Jones’ Smartmoney.com. Plus, the standards for purchasing a vacation property versus an investment property are different. The benefits of choosing to buy a vacation home, rather than an investment property, include:

• Guidelines for purchasing vacation homes are more lenient than those for investment properties.
• Down payment requirements are generally more relaxed.
• Interest rates are typically better.

 That said, you will still need to come up with a larger down payment than you would were you purchasing a home you intend to live in – from 20 to 35 percent of the purchase price, depending on the lender.

 

Lenders also require a higher credit score for loans on second homes. Again, this varies by lender, but the general rule is that you’ll need your credit score to be in the 725 to 750 range. Shop around for a loan because guidelines vary between lenders.

The Second Home and Taxes

 

It’s a good idea to meet with an accountant before finalizing the paperwork on the second home. The deductibility of mortgage interest on your taxes relies heavily on whether the home is viewed as a vacation retreat or a business investment.

 

If it’s truly a second home, and not a rental, you can deduct all of the interest you pay – up to debt of $1.1 million – if the debt is secured by both of your homes.

The same holds true for property taxes. As long as the second home is treated as a home and not an investment, taxes are deductible, according to the experts at Kiplinger’s.

Renting out the home presents a different set of problems and benefits. If you rent out the second home for more than 14 days out of the year, the rental income must be reported to the Internal Revenue Service and you’ll be taxed on it. Rental expenses, however, such as management fees, are deductible.

 

Situations vary, so if you plan to buy a second home, be sure to seek tax advice from a professional.

 

Source: "How to Buy a Second Home", RealEstate.com

How to help your kids buy a house

How to help your kids buy a house

Be sure you are helping out for the right reasons and don't dip into your nest egg.

By Michele Lerner of Bankrate.com

Traditionally (and when they could afford to), parents have provided cash to their offspring for down payments on homes. But in these days of tightened credit guidelines, some parents take bigger steps to help their kids become homeowners at today's low interest rates.

Three factors determine whether it's financially smart for parents to help adult children buy homes: the parents' finances, the kids' finances and the real-estate deal itself.

"The first rule of thumb is that parents should never get financially involved with their adult offspring unless they are adequately prepared to address their own needs and pending retirement, which may not be far down the road," says Guy Penn, principal and founder of G.M. Penn Wealth Management in O'Fallon, Mo.

Penn says while there's no one-size-fits-all answer to whether parents should help their offspring buy a home, it definitely is a bad idea to pull money from a retirement account to give assistance.

Jeffrey Ivory, a partner with Stonebridge Financial Partners in Bingham Farms, Mich., says, "If parents are giving their kids down payment money, they should be willing to lose that money and not get it back. If they are helping their kids by buying a home and renting it to them or by co-signing their loan, they need to have not only the liquidity for the down payment, but they also need to be certain they can pick up the mortgage payments if the kids cannot pay them."

Adult offspring finances

Parents should make sure they are helping their kids for the right reasons, Ivory says.

"If the kids can't get a loan on their own, the parents really need to know why not," Ivory says. "If the scenario is that your kids are going through a divorce or a job loss and you want to help them, tying them to a permanent location may not help. If they are dealing with the financial consequences of credit problems, helping them pay off their credit card debt may be more important than buying a home. But if you are helping a young couple with stable jobs who just haven't had time to save for a down payment, and you can easily afford to help, this could make sense."

Ivory says parents should ask their kids to pull their credit scores and show it to them, and ask to see their paychecks and credit card debt.

"If your kids are already struggling, then you are setting them up to struggle more if you get them into a house they can't afford," Ivory says.

Educating your kids

Ivory says parents should talk to their kids about the rules of thumb of homeownership, including keeping all total debt including housing costs to less than 38 percent of monthly income before taxes. Housing costs, including taxes, homeowners insurance, homeowners association dues, and principal and interest on the mortgage, should be less than 28 percent of gross monthly income.

"The No. 1 way a parent can help their children is to offer them the gift of knowledge," Penn says. "Parents rarely have serious money discussions with their children, and throwing money in their direction now may be doing more harm than good. Parents should be talking to their kids realistically about the hidden costs of homeownership such as utility payments, maintenance and repairs."

The real-estate deal

The simplest way parents can help their kids financially is with down-payment money.

"Lenders want to know if the money is a gift because if the parents are treating it as a loan, it will be considered a second loan on the home," says Dan Kruse, broker and president of Century 21 Affiliated in Madison, Wis.

Individuals can give $13,000 tax-free to another individual each year, Ivory says, so if two parents each give their offspring and their offspring's spouse the maximum, they can give a total of $52,000 tax-free.

Kruse says parents often buy a house as an investment and have their kids pay rent.

The parents can then sell the home to the kids when they are ready, keep it as an investment property or sell it to someone else," Kruse says. "You can do this with two separate transactions, or you can make a rent-to-own arrangement with the parents giving the kids a rent credit toward the purchase."

Ivory says a lease-to-own arrangement requires consultation with a tax professional as well as a lender, and must include a written contract.

Even within the family, financial planners say it is crucial to have everything in writing to make sure there are no misunderstandings in the future about repayment plans or the consequences of a loan default.

Parents with enough cash can lend the entire mortgage to their offspring, but this too should be in writing and include a reasonable interest payment. "Everyone needs to pay attention to the law and to the tax consequences of any financial arrangement," Ivory says.

Most financial planners view co-signing a loan as the worst option because of potential damage to the parents' credit and cash flow if the kids cannot make the payments.

Source: "How to help your kids buy a house", MSN Real Estate

5 Legal Tasks to Do When You Move

The Internet is full of checklists and resources to use if you are planning to move. There are packing timelines. There are lists of packing supplies. There are even directions on how to pack boxes.


But moving is much more than purging and organizing your personal affects. There are legal tasks you need to take care of too.

Here are 5 legal tasks to complete when you move:

1. Read your leases: Review your current lease to make sure you will not get into trouble for leaving. You are responsible for paying rent for the entire lease term, even if you have vacated the premises. If you need to move before the lease term is expired, read the lease to see if you can sublet or assign to a new tenant. Check your new lease for these terms before you sign it. And make sure you complete these tasks to protect your rights as a tenant.

2. Protect yourself with insurance: Thoroughly read any contract with a moving company before you sign it for delivery times and insurance coverage. Moving companies are required to provide some moving insurance. But you may wish to purchase more.

You should also consider renter’s insurance or homeowner’s insurance.
3. Notify your creditors: Update your address with all of your creditors to ensure you do not miss a payment. And be sure to complete a change of address with the United States Postal Service and request that your mail be forwarded to your new address.
4. Keep receipts if you are relocating for a job: You may be able to write off your expenses if you are required to relocate more than 50 miles due to a job change. Review the Internal Revenue Service’s requirements to qualify for this tax break.

5. Update your estate plan: State laws governing wills and estate plans differ. If you move to a different state, update your estate plan.

For more information, visit Findlaw.com.

Source: "5 Legal Tasks to Do When You Move", by Jennifer K. Halford, Esq., RISMedia

3 Tips to Sell Your Home This Fall

As temperatures dip and fall settles in with the promise of winter ahead, home owners need to pay extra attention to certain details in order to set themselves apart from the competition.


1. Maintain your landscape. Flowers aren’t exactly flourishing this time of year but sellers should still make the most of what they have. Adding fall flowers like mums to your front porch or deck is always a nice touch. More importantly grass should be cut at least once per week and leaves should be cleared as much as possible.

2. Keep your house warm. Prospective buyers will be turned off by a cold house, not giving it the chance it deserves. Spend the extra money to make your home as inviting and comfortable as possible. Also keep in mind that you don’t want it to be too warm because bundled up buyers will be uncomfortable and your utility bills will sky-rocket. I’d recommend keeping the thermostat set in the upper 60′s.

3. Let in the light. If your showing is during the day, open blinds, windows and drapes. If not, turn on all the lights in the home and brighten darker rooms by placing spotlights behind the furniture.

Fall is a great time to sell your home because a lot of prospective buyers are hoping to make a decision before the holidays. Take advantage of the fall market by pricing your home correctly and working with a licensed and experienced agent.

Source: "3 Tips to Sell Your Home This Fall" by Chobee Hoy, RISMedia