Saturday Reporter-Herald March 12, 2011 C1
Set the
Stage
Use the value of home staging to sell this spring JILL SCHUETT FOR THE REPORTER-HERALD
H
ome staging is the art of preparing a home for sale by showing off its best features with the goal of appealing to as many potential buyers as possible, thus increasing its chances for a quicker sale at the highest price. Simply put, home staging is an investment. In fact, a 2009 HomeGain national survey places home staging in the home improvement category citing an average cost of $300 to $400 to stage a home can increase a sales price by $1,500 to $2,000. That’s a 586 percent return on investment. Of those 1,000 Realtors surveyed by HomeGain across the country, 82 percent also agree on the positive impact of home staging, recommending it for their clients. With spring just around the corner, now is the time to put a home’s best features forward in preparing to sell by making the most of the home staging investment.
READY — SET — SELL Once a home is put on the market, the reality is, it becomes a product. Though homes hold precious memories, it is important to emotionally detach from a house once the decision has been made to sell. Sellers should be open to the idea of packing up collections and personal photos while looking forward to settling into a new home. Once a home owner is mentally ready to sell, it will also prepare them to effectively work with a Realtor and home stager. These professionals will be looking at the home with buyer’s eyes and making recommendations on what will best help it to sell. The more open a homeowner is to following these recommendations, the better I See STAGE/Page C4
www.homeandrealtyguide.com • Saturday, March 12, 2011 • Reporter-Herald
H&RE Real Estate Matters enough rent to cover expenses. Add a condo building that doesn’t want renters and you’re left with two options: a short sale or a strategic default. A short sale — a sale in which the price for the home does not net enough to pay all of the expenses of the sale and the amount market crashed and the con- owed the lender — only do has lost nearly 70 percent works if there are buyers of the value. lurking and if the bank is Her life has changed since ready to approve a huge loss the purchase: She married a on the mortgage. If you have military officer and had to any assets at all, the bank relocate. Her condo was may not even agree to the rented, but the rent doesn’t short sale unless you pledge cover expenses and the con- some or all of those assets. ILYCE GLINK do building is about to outBe prepared to be cleaned TRIBUNE MEDIA SERVICES law tenants. out financially. She, and thousands (perIn this case, there could recently heard from a haps millions) of readers are also be a taxable event. If reader who wrote that wondering what they can do you live in a home and it’s when she was younger, with investment property your primary residence and she bought a condo. Since that has lost most of its valit is sold short, the IRS won’t ue and doesn’t bring in then, the local real estate recognize the difference between what you owed on the loan and what you paid off as income (through 2013). For more information, call Glink’s radio show at But if the property is no longer your primary resi800-972-8255 on Sundays dence, and is rented out, the from 9 to 10 a.m., write to Real IRS may look at the amount Estate Matters Syndicate, P.O. the bank forgives as a gift, Box 366, Glencoe, IL 60022 or on which taxes must be paid. visit www.thinkglink.com. That difference is considered income to the homeowner because the lender accepted
Limited Options
Reader finds herself in dire situation with sale of condo
I
Real Estate Matters
Shutterstock photo less than the full amount owed. Ouch. Then there’s the option of a strategic default, where you purposefully allow the property to go back to the lender. Since you control the timing, a strategic default can make some financial sense. But in some states, if the money from the sale of the property is not sufficient to pay off the debt owed to the bank, or if there was a second loan or home equity line of credit on the property, the lender can come after you for the deficiency — that is, the difference between what the bank gets when it sells
the property and what the borrower owed. In other states, lenders don’t have the right to come after you for the deficiency if the home was your principal residence. In states where lenders can get a deficiency judgment, they might choose not to do it. Or they might get the judgment and then sell it to a collection agency, which will go after the borrowers for whatever they can get. As there have been millions of foreclosures in the last couple of years in states that allow deficiency judgments, there may be a huge
I See GLINK/Page C4
Inside this week’s Home & Real Estate Realtor of the Week
Real Estate Transactions
Carol O’Meara:
John Simmons, The Group, Inc. Real Estate
Listings from Front Range properties recently sold
Page C2
Director y
Page C3
OPEN HOUSE SAT & SUN 12-5 PM
Page C4
Page C3
FEATURED PROPERTIES - UP TO $199,999 OPEN HOUSE SAT 1-4 / ONLY $142,000
Mites in March spell trouble: how to deal with these troublesome pests
OPEN HOUSE SATURDAY 11-1PM
$200,000 - $299,999 OPEN 1 - 3 SATURDAY
OPEN HOUSE SAT & SUN 12-5 PM
1209 Eilene Place Loveland, CO 80537
4403 Elliot Place, Loveland
402 Longs Peak Ave, Berthoud
2457 Abeyta Ct., Loveland, CO 80538
3830 Higgins Street, Loveland
3 bedroom/1 bath handicap accessible home. New carpet, interior and exterior paint. Clean condition. Updated counters in the kitchen. Side by side refrigerator and range included. Nice cul-de- sac location. Foothills views! Close to shopping. Not a short sale or foreclosure.
FREE HELICOPTER RIDE AND DINNER FOR TWO* 3 BR, 2 BA, 2 car garage, ranch style home. Cathedral ceilings, tankless hot water heater. Home includes front yard landscaping including sprinkler system. Built green. $169,900 w/qualifying special financing or $181,400 without special financing. *with purchase & closing of home - Offer Expires 3/31/11
Fantastic brick ranch on corner lot in Berthoud. Wonderful mountain views. All new kitchen appliances, washer & dryer included. Close to elementary school. $159,000
Beautiful ranch Mediterranean style home, 3/3 almost 4000 sq. ft, golf course across the street and Lake Loveland within a short walk. Canvas gazebo, beautifully landscaped back yard. New windows and carpet, wood burning fireplace in family room, jetted luxury tub, vaulted ceilings, RV parking & more. $297,000
FREE HELICOPTER RIDE AND DINNER FOR TWO* 3 BR, 2 BA, 4 car garage, ranch style home with full unfinished basement. Granite countertops, wood floors, A/C, gas fireplace and 5 piece master bath. $279,617. *with purchase & closing of home - Offer Expires 3/31/11
Cliff Johnson Coldwell Banker 970-566-9716 cliff.johnson@coloradohomes.com http://www.coloradohomes.com/CliffJohnson
Rose Lawrence Cottage Realty 970-215-0515 www.teamcook.biz
Kurt Albers Century 21 Humpal, Inc. 970-231-1224 Kurt.Albers@century21.com
Sirmula Lansky Coldwell Banker (970) 691-0468 sirmulacb@aol.com www.coldwellbanker.com
Kevin Cook Cottage Realty 970-532-5900 www.teamcook.biz
$300,000 - $399,999
$200,000 - $299,999 OPEN HOUSE SAT. 12-2
MARIANA BUTTE $318,000. OPEN SUN. 1-4PM
PATIO HOME JUST COMPLETED • OPEN HOUSE 12 TO 4-THURS-MON
BUILDERS SHOW MODEL • OPEN HOUSE 12 TO 4 THURS-MON
STUNNING 4 BEDROOM HOME
3701 Foothills Dr.
4688 Twin Peaks Court
3405 Peruvian Torch Drive, Loveland
975 Prism Cactus Circle, Loveland
4305 Red Fox Place
Welcome home to this lovely Mariana Butte 2-story with oak floors, stainless appliances, and huge deck for summer entertaining! Enjoy golf, schools within walking distance & easy access to Hwy 34.
A Must-see, 4bdrm, 3ba, 3-car, 3479 sq ft open 2-story on a green belt cul-de-sac lot. Granite, newer flrs, Custom paint, Formal Living and Dinning, main flr Den, Bonus Loft + Great views.
Open floor plan, 3 bdrm/2 bath, hardwood floors, Hickory cabinets, Alder trim, slab granite island, walk-in pantry, 3-car tandem garage. Large composite deck w/unobstructed views. MLS#641702. $354,900
Custom 3 bdrm/2 bath ranch, open floor plan w/slab granite in kitchen, hardwood floors, alder cabinets & trim, designer tile, 3-car garage, composite deck w/amazing views. MUST SEE! MLS#613207. $389,750
Stop by to view this stunning 4 bedroom ranch-style home with open floorplan. More room in the finished basement and oversized garage, and the covered patio allows for luxurious outside living!
Mary Miller RE/MAX Advanced, Inc. 970-391-7513
Rick L. Kelleher Coldwell Banker Residential Brokeage 970-980-7218 ricklkelleher@msn.com
Venna Hillman ERA Herman Group/Glen Marketing 970-663-4522 venna@glencompanies.com www.DakotaGlen.com
Venna Hillman ERA Herman Group/Glen Marketing 970-663-4522 venna@glencompanies.com www.DakotaGlen.com
Mary Miller RE/MAX Advanced, Inc. 970-391-7513
$500,000+
LAND FOR SALE
OPEN HOUSE SAT. & SUN. 1-4 TRADES CONSIDERED
OPEN HOUSE-SUN: 1:00 TO 3:00 P.M.
CLOSE-IN ACREAGE!
SALES OFFICE OPEN SAT 1:30-4PM
New Custom Ranch - 288 Reservoir
7645 Bison Bluff St.
2446 Omni Ct.-Berthoud-$599,900
Warberg Farm at Chapman Reservoir
Walkout bsmt., open floor plan, panoramic views. In select group of lots. Pittington Ranch. Many upgrades. Must see. W. on Hwy 34, S. on CR 29 to 18E. 2.3 miles to Flat Iron Rd., right side of the road.
Scenic Setting - Space To Grow! This beautiful custom-built ranch w/4 bdrm, 3ba, fin. walk- out basement and upgrades galore. Panoramic mountain views. Over 4,000 sq.ft. on 2.66 acres. $618,000
Custom built 4254 sf 2-story on 2.8 acres w/4BD, 4BA, gourmet kitchen, fully finished bsmt & large master suite. Professionally landscaped, 3-car garage, workshop, & 2-stall horse barn w/ tack/hay storage!
OPEN Saturday 1:30-4PM 2+ Acre Lake front & horse lots starting at $225,000, water tap included. Surface rights, walk paths, parks, boat docks, fishing and peace garden.
Carolyn LaMaster Prudential Rocky Mountain, REALTORS 970-690-1596 c_j_lamaster@yahoo.com
Gary Maggi 970-692-2002 gary@berthoudrealestate.com www.berthoudrealestate.com
Visit our website at homeandrealtyguide.com
10-324927
John Mathey Premier Lifestyle (970) 613-4400 (970) 481-5512
Kurt Albers Century 21 Humpal, Inc. 970-231-1224 kurtd57@msn.com www.warbergfarmatchapmanreservoir.com
Online + Print = a Powerful Combination!