Chance Gates' Blog

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By Stephanie Andre

RISMEDIA, May 28, 2010—Homeowners looking to sell need to make sure their homes are as prepared as possible. Home staging is key toward that preparation.

Below are 28 key ways to stage a home:

1. Less is more – remove enough so that there is some empty space in closets, on shelves, and in cabinets.
2. Remove or hide all small kitchen appliances.
3. Remove all refrigerator art, family pictures, school schedules, magnets, calendars, etc.
4. Pack up all personal photos.
5. Remove personal necessity items from bathroom and enclosed showers… shampoo, toothpaste, hairbrushes, dirty towels, etc.
6. Remove and store seasonal clothes from closets.
7. Rent a storage space. Remove all visible storage boxes from closets and garage.
8. Remove unneeded furniture to make rooms look larger.
9. Remove dated or worn furnishings and accessories. Display only updated new looking items.
10. Remember the rule, “One will do”. When accessorizing surfaces, remember that for staging purposes one item is better than two or more. One vase or clock on a fireplace mantle shows off your home better that two or three items.
11. Use mirrors generously. A mirror at the end of a long hallway makes the home look larger and relieves any cramped feeling. A mirror opposite the bathroom vanity pushes walls back and makes small bathrooms larger.
12. Paint the interior of the house and the front door.
13. Repair, paint, or wash all exterior walls, doors, and trim.
14. Power-wash exterior concrete and other hardscape to unify surface color. It will make these areas look bigger.
15. Replace worn, stained carpeting and cracked floor tiles. Be sure that any remaining carpet, drapery or upholstery holds absolutely no odors.
16. Wash the windows, inside and out. Remove unnecessary screening.
17. Arrange a minimum number of towels in bathroom racks and put out fresh soap.
18. Inside, use fresh flowers in vases. Decorate outside with planters and potted plants.
19. Remove some furniture to open up the rooms. A good rule of thumb, consider eliminating half of all furniture and accessories.
20. Decorate the patio or deck with flowerpots and enough furniture to show that it is usable living space.
21. Furnish covered porches with small outdoor tables and chairs to turn them into obvious living spaces.
22. Landscape. Keep perspective in mind. From the house, looking out, plants and vertical elements should diminish in size as they retreat from the house. This elongates sightlines and visually moves property boundaries further from the house.
23. Air the home by opening windows and doors.
24. No drips! Repair all plumbing, faucets, running toilets.
25. Clean or repair/replace worn caulking around tubs, sinks, counter tops.
26. Deep-clean entire house, oven, fireplace, garage, etc.
27. Enhance fireplace firebox with candles or decorative logs.
28. Replace or supplement existing furniture and accessories with rentals From Brook Furniture Rental to achieve a desired appearance.

As a Reno/Sparks real estate professional; I encourage all questions and comments, on the Reno/Sparks real estate market or any of the articles posted in this blog.

By Stephanie Andre

RISMEDIA, May 28, 2010—Within the next month, the kids will be out of school and for a lot of families, it might just be time to move. Moving brings an entire new set of stresses and tasks.

Check out these tips for moving, courtesy of Move.com. It might just help save your clients a bit of time, stress and heartache.

4 weeks from move date: Get organized and start notifying the right people and companies that you’ll be moving soon and give them a date to forward or terminate service. Start looking for licensed and professional moving companies, moving guides and relevant coupons.

Tip: If using a professional mover, get quotes from multiple moving companies to get the best deal that is right for you and your needs. Ask plenty of questions like whether or not they give binding quotes and what kind of insurance is included. Be sure to talk with them about the different options available with full-service moves such as packing and unpacking services and providing boxes and packing supplies.

Tip: Important documents such as your child’s school records may need to be accessible during your transition. Make sure to put these items aside and make copies of any records for yourself, in case you forget what box they’re packed in.

3 weeks from move date: Once you’ve selected a mover, begin by taking inventory of your belongings and their worth and decide what will be coming with you to your next home.

Tip: Start cleaning out closets, drawers and storage areas of your home and divide things into categories: “pack,” “recycle” and “give to friend.” You can always have a garage sale or donate old items to charity. This will make packing day a lot easier and you may reduce the total weight you’ll be paying for to move.

Tip: If you’re moving yourself or contracting for a self-service move, pack the items you know you won’t need until 30 days after the move. It will feel great to get started early.

Tip: If possible, take pictures of rooms and areas inside the home or apartment you’ll be moving into so you can start thinking about placement of furniture, artwork and other items. This will help save time, headaches…and money…on moving day.

2 weeks from move date: If you choose not to take advantage of full service mover packing services, or are planning to do it yourself and rent a truck, start packing things into boxes. Figure out the logistics of the move, travel plans and if other specialized plans need to be made.

Tip: If you are using a professional mover find out what items are on their “non-allowables” list and discard those items or find a way to transport them separately.

Tip: Instead of stacking plates, pack them vertically; they will travel safer this way.

Tip: If you are moving long distance, remember travel arrangements for your pets. There are pet-exclusive airlines available such as Pet Airways but regular airlines have travel options for pets as well.

Tip: If you have young children, you may want to make childcare arrangements so you can be 100% focused on moving day and your little ones remain safe and busy with fun activities.

Tip: Schedule “move out” cleaning service, carpet cleaners and heavy appliance disposal if necessary for once you’ll be out of the home you’re vacating. Even if you’re selling your current home, it’s a nice welcome for the buyers to move into a clean and tidy home.

1 week from move date: Set aside valuable items and keep those with you. Clean before moving and leave your house or apartment as clean as it was when you moved in.

Tip: Make sure the details for paying the moving company are taken care of. Some will require money orders or cashier’s checks upon delivery; know their policy in advance to avoid stress on moving day.

Tip: Start eating all the frozen foods you have, or give them to a neighbor or friend. This way you won’t have to throw them away on moving day, or worry about packing an ice chest.

Tip: Also think about necessities for managing moving day like confining your pets and anticipating the amount of time you will need.

Tip: Place necessities such as toiletries, toilet paper, rags, “must-have” cooking supplies and organize them in boxes marked “open first” so it’s easy to find the initial items you’ll want handy on those first few days of being in your next home. Don’t forget the flashlight!

Tip: If possible, take one last tour of the new location and identify water and gas shut off locations, as well as the electrical breaker box just in case something happens in the first few days so you’re prepared. Might be smart to drop off a fresh box of light bulbs too!

Moving day and beyond: Take one last walk through and make sure nothing has been forgotten or overlooked. Also, make sure all doors and windows are locked and switches turned off, then you are on your way to your new house or apartment.

Tip: Go back to the photos you took when you began to pack up. Now you can show the movers or those helping you unpack exactly where everything goes with photos.

Tip: Unpack one room at a time according to basic needs starting with the kitchen and at least one bathroom…and don’t forget to make a bed as early in the day as possible if you’ll be sleeping in your home that evening! Remember, you don’t have to unpack everything in one day, or even in one week.

Tip: After you’ve settled in a bit, introduce yourself to some neighbors, ask for advice on the best places to eat, grocery shop, etc. This way you will feel like part of the community and can get some great local tips.

As a Reno/Sparks real estate professional; I encourage all questions and comments, on the Reno/Sparks real estate market or any of the articles posted in this blog.

http://chancegates.com/2009/12/21/time-to-relocate-here-are-some-helpful-hints/

http://chancegates.com/2010/03/04/getting-ready-to-apply-for-your-mortgage-checklist/

http://chancegates.com/2010/01/12/non-traditional-credit/

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By Paige Tepping

RISMEDIA, May 26, 2010–When it comes to investing, everybody has certain goals and aspirations. However, we have found that there are certain guidelines every aspiring real estate investor needs to know:

1. Compare property values and rents
Financial statistics only go so far; the best measure of a property’s market value is often the sale prices of nearby properties. The same holds true for area rents. A low price can often be justified by a reasonable rent; renters who can afford a high rent can afford to buy instead, so reasonably priced rent is a must.

2. Pay attention to tax laws
Don’t base your tax investment on current tax laws. The tax code is constantly changing, and a good investment is a good investment regardless of the tax code. The right property with the right financing is what you should look for as an investor.

3. Specialize in something you know
Start in a market segment you know. Whether you focus on fixer-uppers, foreclosures, starter homes, low-down payment properties, condominiums, or small apartment buildings, you’ll benefit from experience by specializing in one aspect of investment real estate properties.

4. Know the costs before getting started
Know the financial statements inside out. What are operating expenses? What are loan payments? Vacancy costs? Taxes? What does the cash flow statement look like? These are key issues that must be addressed before making a solid investment.

5. Know where your tenants are coming from
If the last rent increase was recent, your tenants may be considering a move. If tenants have a short-term lease, they may be living there simply to attract unsuspecting buyers. It is also important to collect the tenants’ security deposits at closing.

6. Assess the tax situation
Taxes are an integral part of successful real estate investing, and they often make the difference between a positive cash flow and a negative one. Know the tax situation, and see how it can be manipulated to your advantage. It may be a good idea to consult a tax advisor.

7. Investigate insurance coverage
If a seller’s coverage is based on lower-than-current replacement value, your insurance cost may increase when you pay a higher purchase price.

8. Confirm utility costs
Ask the local utilities to verify recent utility expenses, especially if any of these costs are included in your tenant’s rent.

9. Consult your accountant
Taxation is a key element of successful real estate investing, so be sure to find an accountant who is well-versed with the constantly evolving tax code.

10. Inspect
Make sure that you always perform a thorough inspection of the property before buying it. Never, ever buy any property without at least examining the site. In some cases, hiring professional inspectors to examine the structural mechanical system may be a sound investment.

As a Reno/Sparks real estate professional; I encourage all questions and comments, on the Reno/Sparks real estate market or any of the articles posted in this blog.

As long as your going to be thinking anyway, think big.
Donald Trump

Do you mind if I sit back a little? Because your breath is very bad.
Donald Trump

Experience taught me a few things. One is to listen to your gut, no matter how good something sounds on paper. The second is that you’re generally better off sticking with what you know. And the third is that sometimes your best investments are the ones you don’t make.
Donald Trump

I could never have imagined that firing 67 people on national television would actually make me more popular, especially with the younger generation.
Donald Trump

I don’t make deals for the money. I’ve got enough, much more than I’ll ever need. I do it to do it.
Donald Trump

I have made the tough decisions, always with an eye toward the bottom line. Perhaps it’s time America was run like a business.
Donald Trump

I try to learn from the past, but I plan for the future by focusing exclusively on the present. That’s were the fun is.
Donald Trump

I wasn’t satisfied just to earn a good living. I was looking to make a statement.

Donald Trump

If you’re interested in ‘balancing’ work and pleasure, stop trying to balance them. Instead make your work more pleasurable.
Donald Trump

As a Reno/Sparks real estate professional; I encourage all questions and comments, on the Reno/Sparks real estate market or any of the articles posted in this blog.

RISMEDIA, May 24, 2010–When you’re packing up your belongings for moving day, sometimes it’s best to leave it to the professionals – or leave it behind entirely. These moving/packing tips will help you discern what not to pack.

Items that Require Disassembly or Special Packaging
Items requiring professional disassembly and/or crating (such as slate pool tables, chandeliers, or large glass table tops) are best left to the professionals.

Heat-Sensitive Items
Do not pack heat-sensitive items like candles, CDs, computer peripherals, etc. If you must take these items to your new home, bring them with you in your climate-controlled car or truck.

Irreplaceable Papers and Objects
Don’t pack any irreplaceable items. Whether these items have significant monetary value, are financial/personal in nature, or have sentimental value, you’ll probably want to keep these items on your person or have them shipped via a trackable shipping service:
• Address books
• Financial papers
• Cameras
• Car keys
• Cash
• Computer software and disks
• Jewelry
• Letters, personal papers and diaries
• Medical records
• Photos and photo albums

Hazardous, Flammable and Spillable Items
Don’t put yourself and your family in danger. Leave hazardous items behind when you move. Ask your neighbors if they can use these items; otherwise, dispose of them properly with assistance from your recycling company or the EPA. Plan to purchase new items once you arrive at your new home.
• Flammable, corrosive or explosive items
• Lamp oil
• Aerosols
• Motor oil
• Ammonia
• Paint thinner
• Nail polish remover
• Car batteries
• Paints
• Charcoal
• Pesticides
• Charcoal lighter fluid
• Poisons
• Cleaning solvents
• Pool chemicals
• Fertilizer
• Gasoline
• Sterno
• Kerosene
• Weed killer

As a Reno/Sparks real estate professional; I encourage all questions and comments, on the Reno/Sparks real estate market or any of the articles posted in this blog.

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RISMEDIA, May 24, 2010–Do you find yourself overwhelmed by the number and complexity of projects you have that need to be completed at work each day? Do you often feel the day flies by without your devoting the necessary attention to each assignment because other tasks keep landing on your desk, co-workers interrupt you with questions or you can’t get it all organized?

You probably know that effective time management will help you get more done each day. It has important health benefits, too. By managing your time more wisely, you can minimize stress and improve your quality of life.

But how do you get back on track when organizational skills don’t come naturally? To get started, follow these tips from the Mayo Clinic:

• Plan each day. Planning your day can help you accomplish more and feel more in control of your life. Write a to-do list, putting the most important tasks at the top. Keep a schedule of your daily activities to minimize conflicts and last-minute rushes.

• Prioritize your tasks. Time-consuming but relatively unimportant tasks can consume a lot of your day. Prioritizing tasks will ensure that you spend your time and energy on those that are truly important to you.

• Say no to nonessential tasks. Consider your goals and schedule before agreeing to take on additional work.

• Delegate. Take a look at your to-do list and consider what you can pass on to someone else.

• Take the time you need to do a quality job. Doing work right the first time may take more time upfront, but errors usually result in time spent making corrections, which takes more time overall.

• Break large, time-consuming tasks into smaller tasks. Work on them a few minutes at a time until you get them all done.

• Practice the 10-minute rule. Work on a dreaded task for 10 minutes each day. Once you get started, you may find you can finish it.

• Evaluate how you’re spending your time. Keep a diary of everything you do for three days to determine how you’re spending your time. Look for time that can be used more wisely. For example, could you take a bus or train to work and use the commute to catch up on reading? If so, you could free up some time to exercise or spend with family or friends.

• Limit distractions. Block out time on your calendar for big projects. During that time, close your door and turn off your phone, pager and e-mail.

• Get plenty of sleep, have a healthy diet and exercise regularly. A healthy lifestyle can improve your focus and concentration, which will help improve your efficiency so that you can complete your work in less time.

• Take a time management course. If your employer offers continuing education, take a time management class. If your workplace doesn’t have one, find out if a local community college, university or community education program does.

• Take a break when needed. Too much stress can derail your attempts at getting organized. When you need a break, take one. Take a walk. Do some quick stretches at your workstation. Take a day of vacation to rest and re-energize.

As a Reno/Sparks real estate professional; I encourage all questions and comments, on the Reno/Sparks real estate market or any of the articles posted in this blog.

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• Time Management and Workplace Delegation (workplaceculture.suite101.com)

Before you can win, you have to believe you are worthy.
Mike Ditka

Here’s what I tell anybody and this is what I believe. The greatest gift we have is the gift of life. We understand that. That comes from our Creator. We’re given a body. Now you may not like it, but you can maximize that body the best it can be maximized.
Mike Ditka

I always tell people I want to live to be 150 and they say why would you want to do that. I say, well there’s a few people I haven’t made mad yet, I want to get them.
Mike Ditka
If God had wanted man to play soccer, he wouldn’t have given us arms.
Mike Ditka

If things came easy, then everybody would be great at what they did, let’s face it.
Mike Ditka

If you are determined enough and willing to pay the price, you can get it done.
Mike Ditka

It’s your body and you’re going to have a much better life, you are going to have a quality life, better lifestyle, you’re going to be healthier, you’re going to be happier, you’re going to enjoy the people around you and they’re going to enjoy you more.
Mike Ditka

As a Reno/Sparks real estate professional; I encourage all questions and comments, on the Reno/Sparks real estate market or any of the articles posted in this blog.

RISMEDIA, May 17, 2010–(MCT)–If you’re in debt as we head into summer, it’s time to start thinking about snowflakes.

The idea of “snowflaking” is to make small debt payments, often on a credit card balance, more than once a month.

These snowflakes become part of your debt snowball, a technique by which you pay the minimum monthly payments on all debts except one that you focus on. As you pay off that debt, apply all the money you were paying on it to your next debt, which pays off that one faster, and so on. It creates a snowball effect, as if a snowball was gaining speed and rolling downhill.

The benefit of using snowflakes and a snowball is becoming debt-free quicker and paying far less interest. You’ll even be motivated and help your credit score. This is one time when “throwing money at the problem” works.

Here’s how to use snowflakes, also called micropayments, and why those in debt should consider it:

—Call your card company: Most allow you to make many payments in a month for free. Call the phone number on the back of the card and ask about your issuer’s policy. “The majority of the major issuers will allow you to do this,” said Bill Hardekopf, founder of credit card comparison site LowCards.com.

—Use regular snowflakes: Set up additional automatic payments to your credit card company. For example, if you get paychecks weekly or biweekly, make payment on the payday. One painless strategy is to pay half your usual amount biweekly. This amounts to 13 monthly payments in a year, instead of 12. “And all of that extra payment goes to pay off the balance. It doesn’t go to interest,” Hardekopf said. “So, your balance will come down faster.”

—Use irregular snowflakes: Hardcore snowflakers make many small payments in a month. If you skip a $9.46 lunch out at work, ship that amount to your credit card company. Work two hours of overtime or get a tax refund? Slap it against the debt. The point is to immediately make a payment with extra money or cash you saved.

Besides erasing debt quicker, snowflaking makes sense for other reasons.

—You’ll save on interest: Most credit card companies assess interest daily on unpaid balances. So paying early saves weeks of interest charges. Month after month, savings add up. And the quicker you get rid of the debt, the less interest you pay.

—You’ll gain motivation: Making more payments forces you to think about your debts more often and gives you a more frequent thrill from seeing balances dwindle. If you want more motivation, focus the extra payments on debts smallest to largest. That allows you to pay off a few quickly, which can be a big emotional boost, like losing a few pounds in the first week of a diet. If you’re more the mathematical type, pay off debts from highest interest rate to lowest.

“If you feel, ‘Hey, I’m cutting into this,’ you can gain momentum psychologically,” Hardekopf said. “You might think, ‘I’ll skip going to dinner this week and take that 20 bucks and tack it onto my credit card payment.’ “

—You’ll improve your credit score: For those who carry balances, paying off debt quicker improves their credit score quicker. You might avoid late payments because you’re more focused on the debt. Multiple payments can also help those who don’t carry balances. Your credit scores are partly calculated on how much of your available credit you’re using at any time. If you use $4,500 of a $5,000 available limit, you’re penalized by credit-scoring models regardless of whether you pay the balance at month’s end. By making multiple payments, you reduce your credit-usage ratio, which accounts for 30 percent of your FICO score.

As a Reno/Sparks Nevada real estate professional, I encourage all questions and comments on the Reno/Sparks real estate market or any of the articles posted in this blog.  I can be reached by email chance@ballard-company.com

Today picks is from a heated rivalry Boston Red Sox vs. New York Yankees.  The Yankees are 12-3 at home and Phil Hughes is pitching some lights out baseball.  He is averaging a strikeout an inning and has only had 14 walks.  The Boston Red Sox are 7-8 on the road and sending  Daisuke Matsuzaka to the mound.  Matsuzaka has dominating strkeout to walk ratio in his last start he struckout 9 with no walks.

I like the under in this game.

As a Reno/Sparks real estate professional; I encourage all questions and comments, on the Reno/Sparks real estate market or any of the article posted in this blog.  I can be reached by email at chance@ballard-company.com

RISMEDIA, May 13, 2010—With short sales making up almost 35% of home sales in March and the country with a national foreclosure problem, I Short Sale, Inc., one of the largest short sale firms in the U.S., sets the record straight on common short sale myths.

1. You must be default on your mortgage to negotiate a short sale. Short sales are not a function of default status on a mortgage. They are the result of the bank mitigating a potential default situation that, in the long run, will cost more money to the investors. We have completed many short sales in instances when the borrower was not in a default situation.

2. Listing my home as a short sale is embarrassing. Anytime we get ourselves into a tough financial situation it can cause some embarrassing feelings. It is important to remember that those feelings will not help us get back onto stable financial ground. We need to overcome our feelings and do what is right to protect our financial futures.

3. Buyers aren’t interested in short sale properties. Short Sale properties are often times available at a competitive price to other properties on the market. In many cases, short sale properties are very well cared for and have not had to endure the deferred maintenance of a REO property. Short Sale properties are in great demand in the marketplace.

4. There’s not enough time to negotiate a short sale before foreclosure. A good negotiator takes into account the timeline affiliated with a foreclosure. There is always a chance that a short sale can be negotiated. However, the only way to know for sure is to try.

5. The bank would rather foreclose than complete a short sale. Banks do not want to foreclose on property. It is expensive and carries a high level of liability once the bank owns that property as an REO. Wherever possible, banks are seeking other loss mitigation options before foreclosure.

6. Short sales are impossible and never get approved. Short sales are complicated, but not impossible. We negotiate short sale approvals every day.

As a Reno/Sparks real estate professional, I encourage all questions and comments on the Reno/Sparks real estate market or any of the articles posted in this blog.  I can be reached by email at  chance at ballard-company.com or http://www.myspace.com/chancegates

Related Links:

http://chancegates.com/2010/05/07/8-short-sale-allowable-closing-cost/

http://chancegates.com/2010/05/06/15-questions-i-ask-before-listing-a-short-sale-in-todays-real-estate/

http://chancegates.com/2010/03/14/home-owners-to-be-paid-to-short-sale/

http://chancegates.com/2010/03/13/the-government-urges-short-sales/