25% of Consumers Have Errors on Credit Report

Consumers need to be extra vigilant about checking for any errors on their credit reports, according to the Federal Trade Commission.

One in four Americans report they’ve found an error on their credit report, according to a study conducted by the FTC, which analyzed 1,001 consumers’ credit reports from the three major agencies, Equifax, Experian, and TransUnion. Researchers helped the consumers spot potential errors on their reports.

Five percent of the consumers found such large errors on their report that they could have gotten stuck paying more for mortgages or other financial products, if they hadn’t taken steps to correct it before applying, according to the study.

The Worst Colors to Use in a Home

Emerald may be this year’s color of the year and hot hue, but which colors should you avoid?

Color research tells us some colors to avoid. Colors that can be considered, as some researchers note, “eye irritants” and can even cause headaches or mess with your vision.

According to color research, the worst offending color: Yellow as a “pure bright lemon.”

Selling your home preparations...

Possible large projects:
These large projects may cost you a bit of money, but some may be well worth the expense. I will help you decide which of these improvements will add value to your home, and which are not necessary.

• Painting—exterior and/or interior.
• Improving lawn and landscaping.
• Cleaning and repairing windows and screens.
• Cleaning and/or replacing carpets.
• Touching up or refinishing cabinets.
• Storing or disposing of furniture in order to make rooms appear larger.
• Cleaning drapes.
• Cleaning and repairing all appliances.

Home Ownership is Within More Americans' Reach

Low interest rates helped keep housing affordability high in the final quarter of 2012, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index released on Thursday.

Flood Forecast Making Big Changes After Snowfall

Heavy snow that piled up from storm after storm means big changes to the flood forecast for the Red River.
The F-M area now has a 79% risk of major spring flooding.
Just last month, the risk was only 6%. Major flood stage in Fargo is 30 feet, one that's been surpassed numerous times before.
There's a 50% chance the river will reach 33.2 feet. That's the level at which Fargo has to build a temporary dike on 2nd street, and Moorhead begins diking to protect the Hjemkomst Center.

Read Full Article Here: Flood Forecast Making Big Changes After Snowfall

2012 Cost vs. Value Report - Fargo, ND

To receive a FULL copy of the Fargo area Cost vs. Value Report.

Simply send an email to...
shannonbarnum@gmail.com
With subject line:  "Cost Value Report"

We will send you the full 11 page report of the Fargo areas remodeling cost vs. value studies done to help you decide what projects you can safely do to your home to get the most return on investment in today's market.

Top 10 Remodeling Projects ~ With Biggest Returns...

Home owners are investing in their homes once again, according to recent industry surveys that point to a strong rebound taking hold in home remodeling. Home owners also may be seeing higher gains from some of these remodeling projects at resale, according to the most recent Cost vs. Value Report, which reviews the top remodeling projects that offer the highest returns at resale. The Cost vs. Value Report is conducted each year by Remodeling Magazine, in conjunction with REALTOR(R) Magazine.

Which remodeling projects offer the potential for some of the biggest pay-backs at resale? The following mid-range remodeling jobs offer the highest returns, according to the 2013 Cost vs. Value Report.

1. Entry door replacement (steel)
Estimated job cost: $1,137
Return on investment at resale: 85.6%

2. Deck addition (wood)
Job cost: $9,327
ROI: 77.3%

Freddie Mac Mortgage Rates Report

Mortgage Rates Holding Steady...

Mortgage rates remained mostly unchanged throughout this past week, continuing a month long track of staying at their historical lows, Freddie Mac reported. "Mortgage rates have been stable, near record lows, for the past 4 weeks. Here’s a closer look at national averages for mortgage rates for the week ending February 21, according to Freddie Mac:

• 30-year fixed-rate mortgages: inched up to a 3.56 average this week, with an average 0.8 point, up from last week’s 3.53 percent. A year ago at this time, 30-year rates averaged 3.95 percent.
• 15-year fixed-rate mortgages: remained unchanged this week at 2.77 percent, with an average 0.8 point. Last year at this time, 15-year rates averaged 3.19 percent.

Home Scents That Help You Sell

Scents that help your home SELL!

Best & Worst scents for selling your home

Real estate professionals have long paid attention to the smell of a home, making sure the scent is pleasing to buyers to hopefully bring about a quicker sale. But new research suggests that some of the common scents real estate professionals may reach for in prepping a home for sale can actually turn off home buyers. Some of the worst scents for real estate open houses: Potpourri, chocolate-chip cookies, gourmet foods, and other baked goods, according to the study. On the other hand, some of the best smells: Lemon, green tea, cedar, pine, basil, and vanilla...

Read Full Article Here:
Wall Street Journal: "Using Smell to Make a Sale!"

Area Home Prices Strongest Performance in 7 Years

Fargo, ND Statistics...

Median Home Price 4th Quarter 2011: $154,000
Median Home Price 2012: $158,400
Yr. Change: +2.9%

Qualifying income:
With 5% down - $34,809
With 10% down  - $32,977
With 20% down - $29,313


Read Full Article Here: Strongest Performance of Area Home Prices in 7 yrs

Home Staging Tips: Table Layering

Home Sellers Staging Guide to a Faster, More Profitable Sale

Click here to find out your homes value in TODAY'S market!

• A sparkling home! Bathrooms, kitchens, carpets/flooring, windows and exterior should appear fresh and new with surfaces that appear to be germ free and smell fresh.
• Create a cohesive, well balanced and upscale environment buyers aspire to own. Furniture should be positioned to create a warm and inviting conversation area buyers can envision spending time with family and friends in. Draw attention to views and features through the use of line and color. Accessories per surface should generally range from 1-3 decorative items and no more than 5. Functional and everyday items should be put away for showings.
• Outdated areas may deter a sale. Inexpensive solutions include updating light fixtures and switch plates, cabinetry knobs, faucets. Studies show most updates actually have 100% or higher return on investment.

People Believe Homes Prices Will Go Up

Such is the indignant refrain heard across Greater Fargo Moorhead

and country from homeowners unable to get a grip on real estate reality.

Increasingly bullish on prices, homeowners are haggling with their real estate agents over the value of homes, a new survey finds.

More than 77 percent of agents and brokers surveyed by HomeGain during the second quarter reported having disputes over homeowners believing the recommended listing price just didn't do justice to the true value of their properties.

Sellers to Buyers: Stop With the Lowball Offers!

Home buyers who are looking for big discounts on housing nowadays are finding that their lowball offers are no longer sticking with sellers, and that their offers are getting a flat-out “no” when they’re way below the asking price.

"Right off the bat, buyers say, 'I want a steal,' and I tell them they have to wipe that word out of their vocabulary," says Jackie Smith, a real estate agent in Florida’s Broward and Palm Beach counties.

"People come in, and they think the market is 2008 or 2009, when sellers were desperate, they're not desperate. Not at all."

What qualifies as a lowball offer? Randy Bianchi, co-owner of Paradise Properties of Florida in West Palm Beach, Fla., says that sellers generally consider lowball offers to be less than 90 percent of their asking price.  Buyers, on the other hand, he says tend to say offers of 80 percent to 85 percent of the list price are reasonable.

An Unusual Secret Weapon? Boost a Home Price by $7k

Many critics have long-argued that Walmart’s “always low prices” often stretches to nearby home prices too. When the big-box discount retailer comes to town, some residents have protested, saying that the store had the potential to lower home values close by.

It was dubbed the “Walmart Effect,” and over the years it has made a lot of residents oppose proposed Walmarts coming to town.

But a new study finds that Walmart can actually give nearby home values a little lift.

Read Full Article Here...

Trim Your Remodeling Costs: 4 Ways to Save

1. Don’t change plumbing or electrical configurations. Keep your plumbing fixtures and electrical work where they’re at. Instead of moving the plumbing or electrical all over the room, Case recommends for remodelers to “think about supplementing and extending your existing wiring instead of ripping it out and starting over,” which can be much more costly.

2. Find savings in materials. “The cost of cabinets, counters, fixtures, paneling, etc. can constitute up to 70 percent of your remodeling budget,” Case Remodeling notes in its blog. “While labor costs may be hard to reduce, the choice of materials is within your control.” For example, solid surfaces can look similar to marble, and granite tiles may be an option over stone to curb costs.

Americans expect 1.4% increase in home prices: Fannie Mae

Most Americans interviewed by Fannie Mae believe home prices will increase at least 1.4% over the next 12 months, the government-sponsored enterprise said. Fannie Mae interviewed approximately 1,000 survey respondents for its May National Housing Survey.

34% of those who responded — the highest level since March 2011 — said home prices will rise over the course of the next 12 months. In addition, 41% of respondents believe home mortgage rates will likely go up over the course of the next year, an increase from the previous month.

Are you selling a house or a "home"?

Before putting your house on the market, you should be thinking about WHAT you are actually trying to sell or even more importantly, what you should be trying to sell. Are you selling a house OR a home? There is a slight, but important difference!

Home sellers and agents usually fall into two different groups. One group tries to sell houses and the other group tries to sell homes and the latter group, in my opinion, is more successful in reaching their sales goals. Why? Because selling homes is more than just selling a house. Selling homes also means selling the life style of the house. This is where the emotional connection happens.

Most home buyers in today’s market are savvy and have already have done their homework. This might include researching different properties, comparing the basic details of the homes, and of course, viewing photos online (a big reason to stage the homes and have them professionally photographed). Also, they might even have driven by your house couple of times before deciding to actually come in to see the home for themselves. This is why curb appeal is so important and why we help our clients get this part of their home presentation just right.

Easy Steps to Stage Your Closets

Most sellers are highly embarrassed when I ask to see their closets, and personally, I wouldn’t want anyone to look into my closets either. When you are getting your house ready to sell, cleaning out the closets is an important step, but it doesn’t need to be difficult.

Here is a step by step guide to getting your closet ready to show:

1. Don’t panic. While you probably have many closets in your home, there are only a couple that matter; your master bedroom closet (no matter how small it is), your entryway or mudroom closet, and your kitchen pantry (technically a closet). While the buyer may check out your other closets as well, don’t focus on those, just make sure nothing will fall on them when they open the door.

Housing Starts Post New Gains, Signs of Healing

Builders broke ground on more homes last month as housing starts jumped 2.6 percent nationwide in April over March, the Commerce Department reported this week. The single-family sector saw a 3 percent increase in housing starts in April, while multifamily construction projects saw a 3.2 percent rise.

"April's increase in housing production comes on top of strong upward revisions to the previous month's data, and is an encouraging sign that we are returning to a gradual, upward trend that should continue in the year ahead as builders respond to improving demand for new homes in certain markets," Barry Rutenberg, chairman of the National Association of Home Builders, said in a statement. "Unfortunately, overly restrictive lending conditions for builders and buyers are slowing the pace of this trend considerably."