Kenai Real Estate News Archives - Page 2 of 5

Is Your Kenai Home Not Selling: LEAVE The Property During Showings

February 22, 2013 By Glenda Feeken Leave a Comment

One of the best actions you can take to sell your Kenai property is to leave during a showing. Kenai homes are very personal spaces and home shoppers can feel awkward when touring someone else’s personal space – particularly when the homeowner is stalking them in the hallway. Many buyers are very reluctant to look at the property when they feel like they are intruding. They want to look at the property at their leisure. They want to look in cabinets, peak in closets, discuss the property openly and honestly with their family and realtor. They will not do that if the seller is there.

Many homeowners feel that no one can SELL a home better than the person who has lived in it. The problem is that home shoppers hate to be sold, but they are very interested in making an informed decision. This is what agents do best, educate the buyers about the area, homes and address concerns. So please give the buyer and the agent the opportunity to explore the unique attributes of your Kenai home without feeling pressured. Take a drive, take a walk, just please don’t be around to talk.

Return On Investment For Your Kenai Home Remodel

February 19, 2013 By Glenda Feeken Leave a Comment

When it comes to remodeling your Kenai home it’s hard to measure a rate of return on personal enjoyment but the potential price increase when you sell your Kenai real estate is another thing. Check out the rate of return on common projects in a recent cost vs value report, it may surprise you.

Top 10 Remodeling Projects That Offer the Biggest Returns

On February 18, 2013, in Home Trends, Remodeling Adviser, by Melissa Tracey

If My Soldotna Home Showed Better….

February 19, 2013 By Glenda Feeken Leave a Comment

If it shows better, it will probably sell faster and maybe for more money. Once your Soldotna home is on the market, it’s time to look at it like a commodity and through the eyes of potential buyers. In all likelihood, you’ll need to take care of these items eventually, so do them now to help it sell sooner.

Make repairs – it doesn’t matter if it’s been that way since you bought it. You need to fix it so that the buyer doesn’t think that the rest of the house is about to fall apart.
Not too personal – you may have bought your home to express yourself but if the buyer can’t see themselves in the home for all of your things, it’s going to take longer to sell than you want.
Drive-up appeal – the old saying “you never get a second chance at a first impression” applies to your home too. They may never even get out of the car to come inside.
The nose knows – it may not smell like home but it shouldn’t smell like a place they would never consider living.
Neutral colors, decor, etc. – these are not decorating tips you’ll see in magazines but the truth is that bold colors and designs are difficult for most people to see beyond. They’ll imagine their things better in neutral surroundings.
Less looks like more – removing some of the non-essential things from your home will eliminate clutter and make the home feel larger. The same suggestion applies to cabinets and closets.

A confused mind will not make a decision. Identify and eliminate items that could derail a potential sale. The preparation you make in the beginning will help the presentation to your buyers.

Alert! Multiple Offers On Kenai Homes!

February 15, 2013 By Glenda Feeken Leave a Comment

You have been through all the Kenai homes listed in your price range and be truthful some that are not… hoping that just maybe the sellers would take less. You are finally comfortable with a Kenai house and BAM!, you are in a heated competition to secure the only Kenai property that you like.

The market is picking up and we are seeing multiple offers for Kenai real estate. Stay calm, common sense and your realtor can help you prevail in a multi offer situation. So how can you be the winning offer?

Be Prepared: First you need to be preapproved by a well known and, even more important, well respected local lender whose preapproval is worth more than the paper it is printed on. Please, don’t use cousin Joe that started lending money yesterday. It just isn’t going to cut it. Most Realtors have lost a deal more than once to over eager loan officers trying to win a client first and approving a loan second. Trust me, we remember which loan officer over promised and under delivered.

Keep It Simple: The cleaner and more straight forward the offer the more likely it is to get accepted. If you have to have buyers closing costs paid by the seller, that is the way it is. Just remember you have to make a quality offer, at or near full price. Also asking for the wine collection, the lawn mower, etc.. is not keeping it simple.

Be Flexible: If the two offers are very close, you can win by making the seller’s life easier. Allow the Seller some leeway in the closing date. If they are elderly or have small children you can give them a week to move out after closing.

Above all stay calm, you won’t know for sure if the other offer isdecent or a low ball until after you present. You could win by default for simply being at market value.

Happy Shopping! May you find the home of your dreams.

FHA Loans More Expensive Than Expected For Kenai Home Buyers

February 13, 2013 By Glenda Feeken

The 3.5% down payment on FHA loans could be more expensive for Kenai Peninsula Home buyers than expected. The proposed changes are expected April 1, 2013. The mortgage insurance premium will go up by .1% to 1.35% which may not even be noticeable to most would-be homeowners.

The proposed staggering increase will occur on 6/3/2013 when FHA’s policy on the duration of the required mortgage insurance will be increased for the life of the mortgage. It basically doubles the amount of total MIP if the loan is paid to term.

Example: Purchase Price $175,000 with 3.5% down payment at 4% mortgage rate on 30 year term
	Current	After 6/3/13
MIP duration	78% of original loan	Life of mortgage
Cumulative premium	$20,838.24	$42,447.93

Currently, the MIP is required for approximately 9 years 9 months with normal amortization. The new program would require the MIP for the life of the loan. In this example, the initial monthly MIP is $196.88 which decreases based on amortization.

There are buyers that qualify on income and credit who may not have the necessary additional down payment required for 80% and 90% conventional loans. The 3.5% FHA program has provided a great vehicle to get into a home with a minimum amount of cash.

For homeowners that expect to stay in their home for ten years or less, the new changes might not have much financial impact. Homeowners who expect to be in their home long term can refinance with a conventional loan without mortgage insurance once the equity has increased due to amortization and appreciation.

For Kenai Home buyers to avoid these increases, they will need to act now to get the FHA commitment issued prior to these change dates.

NAR Video :: December Pending Sale Slip

February 12, 2013 By Glenda Feeken