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I don’t know how many hours I have spent preparing Los Gatos buyer packages, uploading internet marketing and providing guidance to the Seller in anticipation of the “magic” Open House.  Only to show up and find the Seller forgot to do everything that they so eagerly agreed to do after reading “the 26 sellers mistakes”

I should have learned that a plan only lasts until the first detail slips.   When that happens the magic is gone.  Sort of.

It usually starts at the front door, or more accurately, when I drive up and see they have an alfalfa field instead of a manicured lawn.  At the front door, trying to decide what to do with the lawn, with only minutes before the buyers start to arrive,  I realize I am done.

The porch is not swept and “Spongebob” decorations from the previous weekend birthday party are still up.  Hmm…Wonder if they had a magician at the party too? I could sure use one at that moment.  The need for a magician becomes most evident when I open the front door.

The smell that comes rushing at me says  “Sorry, we forgot to take out the Kitchen trash after the birthday party.   It was a great party!  Spongebob and Friends”    Friends?

Oh No!  The adults had Crabby Patties?  Or crab cakes, or a crab feed.  Whew.    THIS pigeon is not going to disappear in a red silk rag.

I am no magician, but I better become one fast, right?!  So, I reach into my little bag of tricks and get the scented candle burning…ya. Like that’s going to solve it.  This is when your “magic” Open House plan is doomed.

One of the most common comments from my Home Buyer clients is…Why didn’t they, at least, clean up a little?…Sheez!

Squidweeeerd!

The only way your Realtor can make your open house magic is with your help!  Follow their guidance….it comes from too many experiences like the one I have described.   Making your Open House a success is going to take a little effort.  It’s not that difficult, really.

The simple is the easy and that is the way selling your home should be. Simple and easy.

You can read more Seller ideas by searching for “seller”  using the search box above.

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Just released, the First Time Home Buyer Tax Credit has changed.  Yes, already!  The fund, at only $200 million dollars, will not last very long and you had better know the new rules to take full advantage of it.

The $200 million dollar fund  still allows a credit amount of 5%  or a maximum credit of $10,000, whichever is the lesser amount, based on the final sales price.  A very substantial credit!

Previously, the first time buyer was required to have the seller of record sign the tax credit form 3549a  prior to submitting the application for the credit.  However, on June 1st , changes were made for First Time Buyers of previously owned homes.

According to an email I received from Colleen Graves of Lawyers Title in Southern California, a popular Escrow and Title company, chosen by financial institutions selling their bank owned (REO, Foreclosures) properties throughout California,…

….“if you are buying a previously owned home, resale not new construction, then you simply need to provide the basic sale information including the final HUD1 and the seller signature is not required as previously understood.”   For my client, who just closed on an REO property, this was great news.  Motivating the all too robotic foreclosure minion to get that seller of record signature in time, was not an appealing thought.

The seller required signature rule remains in place for First Time Buyers purchasing  new construction properties though.

Taking advantage of the First Time Home Buyers tax credit is the only path for many potential First Time Home Buyers to purchase homes in the Golden State.

Does your home purchase qualify for a first time home buyer tax credit?  If you have not owned a home in the previous three years and you plan to live in it as your primary residence…yes! it qualifies.
Another important rule regarding the tax credit form 3549a is that it must be submitted no more than 2 weeks following the close of escrow.   This can become difficult considering the form cannot be submitted prior to the close of escrow due to the HUD1 requirement.

The HUD1 (final closing statement) must be submitted with the form 3549a causing the buyer and buyers agent to be  ‘on their game’.  If your agent is not aware of the new requirements you could lose your chance to take advantage of this tax credit by submitting the application too late or incomplete.

When you are interviewing agents, to help you buy your new home, ask them if they are current on the ever changing laws, regulations and opportunities in the real estate market place.   Some of the recent changes are: multiple agency disclosures,  purchase contract change, short sale addenda and tax credit availability.

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