changescapeweb, Author at Sandra Meranda

December 23, 2012 by changescapeweb Leave a Comment

2012 NORAD Tracks Santa

Christmas Eve is almost here! If you want to know where Santa is then here you go – the 2012 NORAD Santa Tracker!

Good Luck Santa! Happy Holidays and have a Merry Christmas! Be safe everyone!

December 19, 2012 by changescapeweb Leave a Comment

Pending Home Sales Rise in October

Pending Home Sales for October 2012 rose 5.8% over September and by 13.2% over October 2011. This is the busiest year we have had in home sales in 5 years! It is the prime time of year for buying and selling real estate. There are large numbers of homes at below-market prices & the Interest rates are hovering around 3.5% !! The home sale numbers have been increasing every month since June 2011.

WASHINGTON (November 29, 2012) – Pending home sales rose strongly in October with mixed regional results, according to the National Association of Realtors® (NAR). Lawrence Yun, NAR chief economist. noted there are clear regional patterns. “Contract activity surged in the Midwest”.

If you are thinking about selling a home in St. Charles or St. Louis Counties, working with a Real Estate expert than knows the St. Charles and St. Louis County market can really help you. Sandra Meranda specializes in the St. Charles and St. Louis county home markets. Contact me for help with finding or selling your home.

November 28, 2012 by changescapeweb Leave a Comment

How to Make Small Rooms Feel Larger

When showing a home for sale, it is very important to make the small rooms feel larger. There are several things that you can do to change the perception of the space in a home to make it seem larger.

Melissa Dittmann Tracey, REALTOR® Magazine posted an article with several nice tips to open up smaller spaces. These include:

1. Remove furniture – keep the furniture basics
2. Declutter – one of the most impactful in regard to the perception of a room’s size.
3. Find secret storage spots.
4. Lighten the color – lighter tones on the wall can open it up.
5. Let the light flow in – it can make the space look bigger.
6. Hang some mirrors. Mirrors can reflect light and give the illusion of depth to a room.
7. Opt for plain fabrics.
8. Make smart furniture choices.

November 14, 2012 by changescapeweb Leave a Comment

Low Valuation in Appraisals Causing Contract Glitches

Home sales numbers in St. Charles continue to increase, but there are a few glitches that occur. There are large numbers of homes at below-market prices & the Interest rates are hovering around 3.5% !! The home sale numbers have been increasing every month since June 2011.

One of the glitches that has been occurring stems from Low Valuation in Appraisals – here’s an excerpt of an article on this subject (click here for the full article).

The real estate market is recovering but still faces hurdles, notably from tight mortgage credit, but problems with a sizeable share of real estate appraisals also are holding back home sales, according to survey findings by the National Association of REALTORS®.

Most appraisers are competent and provide good valuations that are compliant with the Uniform Standards of Professional Appraisal Practice. However, appraisals generally lag market conditions and some changes to the appraisal process have been causing problems in recent years, including the use of out-of-area valuators without local expertise or full access to local data, inappropriate comparisons, and excessive lender demands. In addition, before the beginning of last year, some lenders’ loan processors edited valuations, cutting them by a certain percentage.

Although 65 percent of REALTORS® surveyed in September report no contract problems relating to home appraisals over the past three months, 11 percent say a contract was cancelled because an appraised value came in below the price negotiated between the buyer and seller, 9 percent report a contract was delayed, and 15 percent said a contract was renegotiated to a lower sales price as a result of a low valuation. These findings are notable given that homes in many areas are selling for less than replacement construction costs.

Lawrence Yun, NAR chief economist, says there has been a steady level of appraisal issues for quite some time. “Though the real estate recovery is taking place, the combined issues of stringent mortgage lending requirements and appraisal frictions are hampering otherwise qualified buyers from purchasing a home in a timely fashion, and in some cases are preventing them from buying at all,” he says.

If you are a first time home buyer thinking about buying a home in St. Charles or St. Louis Counties, working with a Real Estate expert than knows the St. Charles and St. Louis County market can really help you. Sandra Meranda specializes in the St. Charles and St. Louis county home markets. Contact me for help with finding or selling your home.

October 17, 2012 by changescapeweb Leave a Comment

Common mistakes that first time home buyers make in St. Charles and St. Louis Counties

There are common mistakes that first time home buyers make when purchasing a home in St. Charles or St. Louis counties, and the list below outlines the top 5 that I’ve seen over the years.

While the most frequent first time buyer mistakes are not earth shattering, they can cause a lot of unnecessary stress, frustration, and heartache

1.TAKING ADVICE FROM FRIENDS AND FAMILY

Every real estate transaction is unique due to the fact that buyers and sellers have varying personalities, circumstances, income, equity positions, debt ratios, credit scores, etc… In addition, the real estate industry and real estate market are constantly undergoing changes, and what was true a year ago, or even yesterday, could be completely different in today’s economic and lending climate. St. Charles & St. Louis county loan officers and real estate agents that are working in the business every day, have a depth of knowledge, and real time experience with regards to appraisals, market values, seller concessions, and more, which your friends and family do not. Although it’s natural to be nervous and tempted to rely on friends and family, as a first time buyer, it’s important that you trust what your St. Charles & St. Louis county real estate agent and/or home loan agent tells you. And, although it’s wise to get a second opinion in many cases, it should always come from another real estate industry professional, who has the FULL details or your purchase and financial profile.

2. BUYING THE MOST EXPENSIVE HOME THEY QUALIFY FOR IN ST. CHARLES OR ST. LOUIS COUNTY

Becoming a St. Charles & St. Louis county homeowner is very exciting for a first time buyer, but it can become a financial burden, if you’re not prepared for the additional costs of homeownership. This is one topic that is perfect to discuss with friends and family, and an area where they can be a great source of advice.

When choosing your first home in St. Charles or St. Louis county, consider all of the expenses you will incur, in addition to your monthly mortgage, and be realistic about how much you will have left over for food, gasoline, and even entertainment. The last thing you want to do is to become a prisoner in your own home, even if it is beautiful and everything you’ve ever dreamed of.

3. MAKING LOW OFFERS ON HOMES IN ST. CHARLES & ST. LOUIS COUNTY

As a first time buyer, you may be reluctant to offer full price, or above asking price, on a home that you want to purchase in St. Charles & St. Louis counties. You may also think that your real estate agent is simply trying to make a quick sale, if they urge you to do so. However, the St. Charles & St. Louis county real estate market is moving quickly right now, and desirable properties typically have multiple offers submitted on them due to the severe lack of inventory. With homes in St. Charles & St. Louis counties selling almost as soon as the sign goes up, and prices pushing up slightly, you’re setting yourself up for heartbreak and wasting your time, if you’re not offering a fair amount of money for the property. This is especially true when it comes to standard real estate sales in St. Charles & St. Louis counties, since the owner is not desperate to sell.

4. NOT MAKING AN OFFER WHEN THEY FIND THE RIGHT HOME IN ST. CHARLES & ST. LOUIS COUNTIES

So often first time home buyers are hesitant to place an offer on a home, if they’ve just begun their St. Charles & St. Louis county home search. The problem is that there are many other buyers that have been searching for months already, and the home you love may very well be pending by the time you circle back to it. Yes, it’s important to see what’s out there, and know that you’re making the right decision, but you should try to do this as quickly as possible, if you find a home in St. Charles or St. Louis county that you like and suits your needs.

5. LOOKING FOR A HOME LIKE THEIR PARENTS

It’s important to remember that most people do not buy their dream home right out of the gate. Your parents, or other family members and friends, probably started out in a much smaller house, or even a condo in St. Charles or St. Louis county. Most likely, they paid down their mortgage over the years, and then traded up to a larger St. Charles or St. Louis county home, when the time was right. As a first time buyer, it may be difficult to lower your expectations a bit, but by not doing so, you may miss out on a great home and the incredibly low interest rates and prices available today in St. Charles & St. Louis counties.

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