MyTownCryer

By: G. M. Filisko

Published: February 10, 2010

Be sure you’re walking away with all the money you’re entitled to from the sale of your home.

1. Take services out of your name

Avoid a dispute with the buyers after closing over things like fees for the cable service you forgot to discontinue. Contact every utility and service provider to end or transfer service to your new address as of the closing date.

If you’re on an automatic-fill schedule for heating oil or propane, don’t pay for a pre-closing refill that provides free fuel for the new owner. Contact your insurer to terminate coverage on your old home, get coverage on your new home, and ask whether you’re entitled to a refund of prepaid premium.

2. Spread the word on your change of address

Provide the post office with your forwarding address two to four weeks before the closing. Also notify credit card companies, publication subscription departments, friends and family, and your financial institutions of your new address.

3. Manage the movers

Scrutinize your moving company’s estimate. If you’re making a long-distance move, which is often billed according to weight, note the weight of your property and watch so the movers don’t use excessive padding to boost the weight. Also check with your homeowners insurer about coverage for your move. Usually movers cover only what they pack.

4. Do the settlement math

Title company employees are only human, so they can make mistakes. The day before your closing, check the math on your HUD-1 Settlement Statement.

5. Review charges on your settlement statement

Are all mortgages being paid off, and are the payoff amounts correct? If your real estate agent promised you extras—such as a discounted commission or a home warranty policy—make sure that’s included. Also check whether your real estate agent or title company added fees that weren’t disclosed earlier. If any party suggests leaving items off the settlement statement, consult a lawyer about whether that might expose you to legal risk.

6. Search for missing credits

Be sure the settlement company properly credited you for prepaid expenses, such as property taxes and homeowners association fees, if applicable. If you’ve prepaid taxes for the year, you’re entitled to a credit for the time you no longer own the home. Have you been credited for heating oil or propane left in the tank?

7. Don’t leave money in escrow

End your home sale closing with nothing unresolved. Make sure the title company releases money already held in escrow for you, and avoid leaving sales proceeds in a new escrow to be dickered over later.

Other web resources

Closing costs explained

G.M. Filisko is an attorney and award-winning writer who has survived several closings. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

By: G. M. Filisko

Published: February 10, 2010

Working to get your home ship-shape for showings will increase its value and shorten your sales time.

1. Have a home inspection

Be proactive by arranging for a pre-sale home inspection. For $250 to $400, an inspector will warn you about troubles that could make potential buyers balk. Make repairs before putting your home on the market. In some states, you may have to disclose what the inspection turns up.

2. Get replacement estimates

If your home inspection uncovers necessary repairs you can’t fund, get estimates for the work. The figures will help buyers determine if they can afford the home and the repairs. Also hunt down warranties, guarantees, and user manuals for your furnace, washer and dryer, dishwasher, and any other items you expect to remain with the house.

3. Make minor repairs

Not every repair costs a bundle. Fix as many small problems—sticky doors, torn screens, cracked caulking, dripping faucets—as you can. These may seem trivial, but they’ll give buyers the impression your house isn’t well maintained.

4. Clear the clutter

Clear your kitchen counters of just about everything. Clean your closets by packing up little-used items like out-of-season clothes and old toys. Install closet organizers to maximize space. Put at least one-third of your furniture in storage, especially large pieces, such as entertainment centers and big televisions. Pack up family photos, knickknacks, and wall hangings to depersonalize your home. Store the items you’ve packed offsite or in boxes neatly arranged in your garage or basement.

5. Do a thorough cleaning

A clean house makes a strong first impression that your home has been well cared for. If you can afford it, consider hiring a cleaning service.

If not, wash windows and leave them open to air out your rooms. Clean carpeting and drapes to eliminate cooking odors, smoke, and pet smells. Wash light fixtures and baseboards, mop and wax floors, and give your stove and refrigerator a thorough once-over.

Pay attention to details, too. Wash fingerprints from light switch plates, clean inside the cabinets, and polish doorknobs. Don’t forget to clean your garage, too.

More from HouseLogic

Develop a Landscape Plan to Fit Your Budget

Spring Cleaning Guide

G.M. Filisko is an attorney and award-winning writer who has found happiness in a Chicago brownstone with the best curb appeal on the block. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

By: G. M. Filisko

Published: February 10, 2010

Have a plan for reviewing purchase offers so you don’t let the best slip through your fingers.

1. Understand the process

All offers are negotiable, as your agent will tell you. When you receive an offer, you can accept it, reject it, or respond by asking that terms be modified, which is called making a counteroffer.

2. Set baselines

Decide in advance what terms are most important to you. For instance, if price is most important, you may need to be flexible on your closing date. Or if you want certainty that the transaction won’t fall apart because the buyer can’t get a mortgage, require a prequalified or cash buyer.

3. Create an offer review process

If you think your home will receive multiple offers, work with your agent to establish a time frame during which buyers must submit offers. That gives your agent time to market your home to as many potential buyers as possible, and you time to review all the offers you receive.

4. Don’t take offers personally

Selling your home can be emotional. But it’s simply a business transaction, and you should treat it that way. If your agent tells you a buyer complained that your kitchen is horribly outdated, justifying a lowball offer, don’t be offended. Consider it a sign the buyer is interested and understand that those comments are a negotiating tactic. Negotiate in kind.

5. Review every term

Carefully evaluate all the terms of each offer. Price is important, but so are other terms. Is the buyer asking for property or fixtures—such as appliances, furniture, or window treatments—to be included in the sale that you plan to take with you?

Is the amount of earnest money the buyer proposes to deposit toward the downpayment sufficient? The lower the earnest money, the less painful it will be for the buyer to forfeit those funds by walking away from the purchase if problems arise.

Have the buyers attached a prequalification or pre-approval letter, which means they’ve already been approved for financing? Or does the offer include a financing or other contingency? If so, the buyers can walk away from the deal if they can’t get a mortgage, and they’ll take their earnest money back, too. Are you comfortable with that uncertainty?

Is the buyer asking you to make concessions, like covering some closing costs? Are you willing, and can you afford to do that? Does the buyer’s proposed closing date mesh with your timeline?

With each factor, ask yourself: Is this a deal breaker, or can I compromise to achieve my ultimate goal of closing the sale?

6. Be creative

If you’ve received an unacceptable offer through your agent, ask questions to determine what’s most important to the buyer and see if you can meet that need. You may learn the buyer has to move quickly. That may allow you to stand firm on price but offer to close quickly. The key to successfully negotiating the sale is to remain flexible.

G.M. Filisko is an attorney and award-winning writer who has survived several closings. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

December 7, 2010

FOR IMMEDIATE RELEASE

(For more information contact Douglas E. Lierle at lierlepr@comcast.net)

Kentwood Real Estate Surpasses $1 Billion in Sales Volume

for 2010 in mid-November

Strong Sales Attributed to Strategic Marketing Efforts, Excellent

Opportunities in Current Buyer’s Market

DENVER – Kentwood Real Estate, Colorado’s Premier Real Estate Company, has surpassed $1 billion in total sales volume for 2010.  The landmark milestone, recorded in mid-November, was the leading real estate firm’s tenth such accomplishment and firmly establishes Kentwood Real Estate as a national leader in marketing expertise and customer service.

Kentwood’s total sales volume through mid-November was $1,050,247,563 representing a total of 2,404 real estate transactions.  After nine consecutive years of posting more than $1 billion in sales, Kentwood Real Estate recorded more than $900 million in total sales volume in 2009, which still ranked 95th in the United States with only 157 real estate agents.

“This is a very major achievement in such a challenging real estate market,” said Peter Niederman, Chief Executive Officer of Kentwood Real Estate, “and one that could only be accomplished by the most experienced, dedicated real estate professionals in the business.  By focusing on the most advanced marketing programs in the industry, including one of the country’s top-performing Internet sites, we have recorded another outstanding year.  Our broker associates are among the most accomplished at finding excellent opportunities for buyers and maximizing exposure of properties for sellers.  It’s also a true testament to our agent’s old-fashioned hard work and perseverance.”

In the July/August 2010 issue of Realtor Magazine, the official publication of the National Association of Realtors, the top 100 real estate firms in the nation were ranked by total sales volume, total transactions, and sales volume per agent for 2009.  Kentwood Real Estate topped the charts with an average sales volume of nearly $5.8 million per each of the company’s approximately 157 agents.

Kentwood Real Estate is dedicated to its legacy of being “Colorado’s Premier Real Estate Company” through the highest producing, most knowledgeable, caring and experienced sales team in the country, offering the highest quality customer service experience.  Kentwood Real Estate is an innovator known for unparalleled marketing strategies and superior Internet technology that places its clients in the best possible position.

Kentwood Real Estate is comprised of The Kentwood Company in the Denver Tech Center, Kentwood Company at Cherry Creek, and Kentwood City Properties in downtown Denver.  For more information, visit Kentwood Real Estate online at www.DenverRealEstate.com.

By: G. M. Filisko

Published: March 19, 2010

Make your home warm and inviting to boost your home’s value and speed up the sale process.

1. Start with a clean slate

Before you can worry about where to place furniture and which wall hanging should go where, each room in your home must be spotless. Do a thorough cleaning right down to the nitpicky details like wiping down light switch covers. Deep clean and deodorize carpets and window coverings.

2. Stow away your clutter

It’s harder for buyers to picture themselves in your home when they’re looking at your family photos, collectibles, and knickknacks. Pack up all your personal decorations. However, don’t make spaces like mantles and coffee and end tables barren. Leave three items of varying heights on each surface, suggests Barb Schwarz ofwww.StagedHomes.com in Concord, Pa. For example, place a lamp, a small plant, and a book on an end table.

3. Scale back on your furniture

When a room is packed with furniture, it looks smaller, which will make buyers think your home is less valuable than it is. Make sure buyers appreciate the size of each room by removing one or two pieces of furniture. If you have an eat-in dining area, using a small table and chair set makes the area seem bigger.

4. Rethink your furniture placement

Highlight the flow of your rooms by arranging the furniture to guide buyers from one room to another. In each room, create a focal point on the farthest wall from the doorway and arrange the other pieces of furniture in a triangle around the focal point, advises Schwarz. In the bedroom, the bed should be the focal point. In the living room, it may be the fireplace, and your couch and sofa can form the triangle in front of it.

5. Add color to brighten your rooms

Brush on a fresh coat of warm, neutral-color paint in each room. Ask your real estate agent for help choosing the right shade. Then accessorize. Adding a vibrant afghan, throw, or accent pillows for the couch will jazz up a muted living room, as will a healthy plant or a bright vase on your mantle. High-wattage bulbs in your light fixtures will also brighten up rooms and basements.

6. Set the scene

Lay logs in the fireplace, and set your dining room table with dishes and a centerpiece of fresh fruit or flowers. Create other vignettes throughout the home—such as a chess game in progress—to help buyers envision living there. Replace heavy curtains with sheer ones that let in more light.

Make your bathrooms feel luxurious by adding a new shower curtain, towels, and fancy guest soaps (after you put all your personal toiletry items are out of sight). Judiciously add subtle potpourri, scented candles, or boil water with a bit of vanilla mixed in. If you have pets, clean bedding frequently and spray an odor remover before each showing.

7. Make the entrance grand

Mow your lawn and trim your hedges, and turn on the sprinklers for 30 minutes before showings to make your lawn sparkle. If flowers or plants don’t surround your home’s entrance, add a pot of bright flowers. Top it all off by buying a new doormat and adding a seasonal wreath to your front door.

More from HouseLogic

Spring cleaning guide

Green cleaning products for the bathroom

Green cleaning products for the kitchen

Other web resources

How to make a small room look larger

How to arrange bedrooms

G.M. Filisko is an attorney and award-winning writer who occasionally rearranges her furniture to find the best placement—and keep her dog on his toes. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

By: G. M. Filisko

Published: March 30, 2010

After finding a buyer, all you have to do to make it to closing is to avoid these five traps.

Mistake #1: Ignore contingencies

If your contract requires you to do something before the sale, do it. If the buyers make the sale contingent on certain repairs, don’t do cheap patch-jobs and expect the buyers not to notice the fixes weren’t done properly.

Mistake #2: Don’t bother to fix things that break

The last thing any seller needs is for the buyers to notice on the pre-closing walk-through that the home isn’t in the same condition as when they made their offer. When things fall apart in a home about to be purchased, sellers must make the repairs. If the furnace fails, get a professional to fix it, and inform the buyers that the work was done. When you fail to maintain the home, the buyers may lose confidence in your integrity and the condition of the home and back out of the sale.

Mistake #3: Get lax about deadlines

Treat deadlines as sacrosanct. If you have three days to accept or reject the home inspection, make your decision within three days. If you’re selling, move out a few days early, so you can turn over the keys at closing.

Mistake #4: Refuse to negotiate any further

Once you’ve negotiated a price, it’s natural to calculate how much you’ll walk away with from the closing table. However, problems uncovered during inspections will have to be fixed. The appraisal may come in at a price below what the buyers offered to pay. Be prepared to negotiate with the buyers over these bottom-line-influencing issues.

Mistake #5: Hide liens from buyers

Did you neglect to mention that Uncle Sam has placed a tax lien on your home or you owe six months of homeowners association fees? The title search is going to turn up any liens filed on your house. To sell your house, you have to pay off the lien (or get the borrower to agree to pay it off). If you can do that with the sales proceeds, great. If not, the sale isn’t going to close.

More from HouseLogic

How maintenance adds to home values

Reducing closing stress

Other web resources

More on calculating closing costs

More on the closing process

G.M. Filisko is an attorney and award-winning writer who wanted a successful closing on a Wisconsin property so bad that she probably made her agent rethink going into real estate. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Denver Foreclosures Have Reached Their Peak and Turned

And, from the Denver Post today, even more support for the tide turning on foreclosure activity.  Short sale activity may be helping with this decline in foreclosure activity too!

Foreclosure activity not yet at peak nationwide but near plateau in Colorado

Read more:Foreclosure activity not yet at peak nationwide but near plateau in Colorado – The Denver Posthttp://www.denverpost.com/business/ci_17090821#ixzz1BOh9mL1s
Read The Denver Post’s Terms of Use of its content: http://www.denverpost.com/termsofuse

Long term, this trend will be good for Denver and surrounding Colorado Communities, but when 10, 15 and even 20K+ families are losing their homes each year, this is negatively impactful on the overall regional economy.  Vacant homes do not strengthen the economy. Owner occupied homes strengthen the economy.  Until we start selling owner occupied homes again, we will not enjoy the upward potential that this market is ready to provide.

Reuter-Hess Reservoir Aerial View

Rueter-Hess Reservoir Aerial Views

Here’s a quick fact sheet:

• Planning for the project started almost 30 years ago.
• Permitting of the original project (120 foot tall dam impounding 16,200 Acre feet of water) began in 1999.
• Approval of the original project was granted in 2004.
• Construction on the original project started in September 2004.
• Approval for the enlarged project 184 foot tall dam impounding 72,000 Acre feet of water was granted in April of 2008.
• Construction of the enlarged project began in September of 2008.
• Completion of the project is anticipated in spring of 2012.
• By the time the project is complete:
• 15,000,000 cubic yards of earth will have been placed in the dam.
• 30,000 cubic yards of concrete will have been placed.
• 5,600 tons of steel will have be used.
• The final reservoir has a capacity of 72,000 Acre feet of water which equates to 23,461,200,000 gallons of water.
• The surface area of the filled reservoir will be 1,200 Acres or 1.5 times thesiz Creek Reservoir.
• The deepest point the reservoir will be 184 feet below the surface.
• There will be over 14 of shoreline.