| Real estate is changing hands in ways
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| | better with your property investment.
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| that make headlines. Whether you're a
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| | SELLING:
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| buyer or seller, here are some tips to
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| | What to get the best price for your home?
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| help you make the best deal.
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| | Just follow these six tips:
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| BUYING:
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| | 1. Everything (usually) looks better in
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| So you want to buy a house? In this
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| | brighter light. So let the sun shine in.
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| market? Are you nuts? Actually, it
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| | Open curtains and blinds and turn on
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| depends on where you are. You could be
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| | lights in all the rooms.
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| very shrewd right now if you pick the
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| | 2. Fix up those little things. Oil or
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| right spot, the right pricing trend and
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| | WD-40 those squeaky door and window
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| bid aggressively. It requires homework,
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| | hinges. Tighten any loose door handles.
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| homework, homework.
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| | Replace broken shutters, fix leaky
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| Example: My wife scoured a market,
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| | faucets, etc.
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| screening 90+ houses. We eventually
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| | 3. Deodorize! Nothing turns off a
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| found a fixer-upper for $162K. We
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| | potential buyer than a "funny" or
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| offered $160K the same morning it was
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| | unpleasant smell. You've heard of the
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| listed. They took it on a handshake.
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| | bake bread or cookies in the oven
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| One year later-with no improvements!-we
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| | trick...it's a lot easier to just use
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| sold it for $208K. For those of you
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| | plug in deodorizers.
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| without a calculator, that's a 30% return
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| | 4. One of the easiest things to do is
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| on the investment.
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| | clean the place. Clean in the corners,
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| And you can do it, too. Here's how:
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| | clean the cabinets, re-grout the kitchen
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| 1. Pick a growing area. This is
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| | and bathroom sinks, tubs, etc. Wash the
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| essential. Yes, it's hard to predict
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| | baseboards, make the place shine,
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| economic cycles and which metropolitan
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| | especially in the entrance way.
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| areas are going to prosper over the next
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| | 5. Get rid of the clutter! Buyers need
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| year or so. However, if you read the
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| | to envision the home as they would live
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| business pages regularly, you'll have a
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| | in it. Anything interfering with that
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| much better idea of where to buy/invest.
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| | vision works against you in selling your
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| 2. Learn the market. This is also
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| | home to them. So divide all your
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| essential. You've got to know what's out
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| | possessions into three groups:a) things
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| there, what houses are going for and how
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| | you really need to live in the house,b)
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| to spot a bargain from the overpriced.
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| | things you don't really need but want to
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| When you find your bargain, you probably
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| | take with you to your next home, andc)
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| won't have much time before the
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| | things you don't want to take with you
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| competition gets wind of it. So you must
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| | and should really toss.
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| be ready to make a solid offer right
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| | Now, put those things your want to take
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| away.
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| | with you to your next home in a rental
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| 3. Make your offer contingent upon a
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| | storage facility. Hold a garage sale and
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| thorough inspection. There's nothing
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| | or donate everything else to charity.
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| worse than buying something with plenty
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| | That'll leave your home looking elegantly
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| of infrastructure problems. They'll cost
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| | simple...the best way to present it to
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| you time, money and aspirin. If you
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| | potential buyers.
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| discover only a few problems, try to get
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| | 6. Paint, paint, paint. Virtually every
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| the seller to lower the price to
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| | home has some areas that could use a
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| counterbalance the flaws in the property.
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| | fresh coat of paint. It is one of the
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| They often will.
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| | most important (i.e., best and
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| 4. Finally, recognize that you will not
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| | inexpensive) investment you can make is
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| likely land your first prospect.
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| | maximizing your sale price. Make sure
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| Therefore, be patient and be prepared to
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| | you patch cracks and peeling paint first,
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| keep looking until you find the right
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| | though.
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| house that makes good economic sense for
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| | Follow the above six tips and you'll sell
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| you to purchase.
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| | your home faster and for a better price
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| Follow the above four tips and you'll do
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| | that if you didn't.
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