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As a real estate agent in The Poconos, I have worked with many buyers who always dreamed of renovating a home exactly to their specifications, or they have found an older house that is structurally sound but needs a lot of work inside.  Often the price is right and they can't resist all that house they can get for their money.  Whatever the reason, buying a fixer-upper can be both an exciting and rewarding purchase or a financial and time consuming disaster, depending on whether you are prepared for what you have gotten yourself into.  So what should you know before buying a home that requires a little or a lot of tender loving care?

The Benefits

The benefits of purchasing a fixer-upper are obvious.  The price is usually right, and if the seller wants a quick sale because of decreased interest in the home, you may be able to negotiate a really great price.  Also, if you intend to flip the home after the renovations, the profit for the money and time you have invested can be quite considerable.  The trick to getting these benefits, however, is knowing what type of property to look for, as well as having an accurate idea of the associated costs, and realistic expectations of the time and labor it will take.

What Makes A Great Fixer-Upper?

There are several features that may make for a great fixer-upper.

Location-Buying a home in a desirable neighborhood is always a smart idea, particularly with homes that require a lot of work. Purchasing a house in a sought after area can mean a greater profit margin for resale value.

Layout And Configuration-This is especially important if you plan to sell the home after the renovations are finished.  Selecting a home that will appeal to the greatest number of buyers will get you the best price.  Also, choosing a home with a layout that flows may save you a considerable amount on the actual renovation costs because you are less likely to need custom installations and work.

Condition-Ultimately the most important consideration is the actual condition of the home. Choosing a fixer-upper with only cosmetic problems such as damaged flooring or old fixtures and appliances, and in need of only a new paint job, can often have the greatest profit margin and require much less money and time.

Overall, when purchasing a home that needs work, getting a qualified home inspector's advice and getting estimates of the cost of work to be done before making your offer can make all the difference.

I came across this great article on Trulia and wanted to share it with you. It contains great advice for both buyers and sellers.

 "In today’s' market every savvy seller wants to know what turns buyers off, so they can get their homes sold as quickly as possible, for as much as possible. But buyers, take note - there is a minefield of seller turn-offs you can trigger that hold the potential to keep you from getting the home you want at the best price and terms, or to unnecessarily complicate dealings with your home's seller.

 Lest you think all of today's sellers are under the gun and will just put up with whatever behavior buyers dish out, be aware that there are still many multiple offer situations in which buyers have to compete with each other to get a home - buyers who trigger these turnoffs tend to lose in those scenarios.  Also, avoiding these seller turn-offs can create a transactional environment of cooperation and avoid things turning adversarial. That, in turn, can empower you to score a better price, get extra items you want thrown into the deal, and even negotiate more flexibility around your escrow and move-in timelines - all perks that can make your life easier and your budget go further.

For sellers, these turn-offs pose the potential of irritating you out of an otherwise good deal - maybe even the only deal you have!

Here's a few of the most common buyer perpetuated seller turnoffs, with tips for sellers on how to keep an emotional (and economic) even keel, even if your home's buyer makes some of these waves:

1.      Trash-talking. Trash-talkers are the home buyers who think they're going to negotiate the list price down by slamming the house, telling the sellers how little it is really worth, how the house across the street sold for nothing, why the school on the corner should make them desperate to give the place away, etc.  This strategy never works; in fact, when you attack a seller and their home, you only cause them to be defensive, and think up all the reasons that (a) their home is not what you say it is, and (b0 they shouldn't sell their home to you!

Sometimes this happens with buyers who actually love a house and just walk around it fantasizing about all the ways they would customize it to their tasters while a seller is there.  Sellers: avoid being at home while your home is being shown.  Buyers: Save your commentary for your agent; if you do encounter the seller in person keep your conversation respectful and avoid the critiquing the house or the list price.

1.      Being unqualified for mortgage financing. When a seller signs a buyer’s offer, most often the seller agrees to effectively pull the home off the market, forgoing other buyers who might be interested.  As such, the only thing worse than getting no offers on your home is getting an offer, getting into contract, then having the whole thing fall apart when the buyer’s loan falls through – especially if that could have been predicted up front.

Sellers:  Work with your agent to vet your home’s buyer’s qualifications, including their loan approval, down payment and earnest money deposit – before you sign a contract. It’s not overkill for your agent to call the buyer’s mortgage pro before you sign the contract and get a level of comfort for how robust their qualifications are.  Buyers: Get pre-approved. Seriously. And make sure that you don’t buy a car, quit your job, deposit lottery winnings or do any other financial twitchery between the time you get loan approval and the time you close escrow on your home.

2.      Making unjustified lowball offers.  No one likes to feel like they are being taken advantage of.  And sellers generally know the ballpark amount that their home is worth, as well as what they need to sell if for to get their mortgage paid off.  Yes – the price you pay for a home should be driven by its fair market value, rather than the seller’s financial needs, and deals are more available in a market like the current one, in which supply so vastly outpaces demand.  But just throwing uber-lowball offers out at sellers hoping one will hit the spot is not generally a successful strategy, especially if you really, really want a given property.

Sellers:  Don’t get overly emotional about receiving a lowball offer; counter at the price you and your agent decide makes senses based on the total circumstances, including your motivation level, recent comps and the interest/activity level your listing is receiving.  Buyers:  Work through the similar nearby homes that have recently sold before you make an offer to factor the home’s fair market value into your offer price – also factor in how much you want the place, too.  Don’t be amazed if you make an offer below asking, and don’t get a response.

3.      Renegotiating mid-stream.  Sellers plan their finances, moves and – to some extent – their lives around the purchase price a buyer agrees to pay for their home.  If you get into contract to buy a home, find out during inspections that costly repairs need to be made, and then propose a lower sale price, repair credit or even actual repairs to the seller, that’s sensible and fair. But if you were aware that the property needed a lot of work before you made an offer on it, then you come back asking for beaucoup bucks’ worth of credit or price reductions midstream, expect the seller to cry foul.  And holding the seller up two weeks into the transaction because you caught a case of buyer’s remorse? Not cool, and not likely to foster the spirit of cooperation you may need to get your deal closed.

Sellers: Avoid mid-stream price renegotiations by having a full set of inspection reports and repair bids at hand when you list your home.  Buyers:  Try to avoid renegotiating the entire deal unless you get some major surprises at your inspections or inflating small repairs to justify a major price cut.

4.      Misleading or setting the seller up.   Remember when you were turned off by being misled by listing photos or very fluffy property descriptions. The same goes for sellers. Offering way over asking with the plan to hammer the seller for a reduction when the house doesn’t appraise at the purchase price? Lame. Making as-is offer planning the whole time to come back and ask for every penny ante repair called out by the inspectors? Lame squared.

Sellers: If you get multiple offers and are tempted to take a sky-high one or one that claims to be all in cash, consider requesting proof that the buyer has sufficient funds to make up the difference between what you think the home will appraise for and the actual sale price, and statements showing the cash truly exists.  Buyers: Don’t be lame.  I’m not saying you have to tell the seller exactly what your top dollar is, but making offers with terms designed to intentionally mislead is really, really bad form – and can result in losing the home entirely if and when your bluff gets called.”

I've had a great week! I showed homes on Monday when it was 13 degrees outside, took a break on Tuesday because of road conditions due to freezing rain, snow and sleet, then was out with the same couple on Wednesday when we had a little warm spell - 23 degrees. Today I was out with a different couple; it was 8 degrees outside. We are going out to look at more homes tomorrow when it is supposed to be zero with way below zero windchill factor.

A lesson to be learned here, my friends.  Serious buyers are out looking at homes NOW. Both couples missed seeing some great homes because the driveways weren't plowed, or the driveway was plowed but the walkway wasn't shoveled and the buyers did not want to trudge through snow and ice. Other homes had very brief showings because the home was unheated and the buyers were freezing and wanted to get back to the warmth of the car.

If you are serious about selling your home, you must plow your drive, shovel your walkway, clean off the deck and any steps leading into your home and keep some heat on. The thermostat doesn't have to be set high; most of the vacant heated homes we visited had the heat set at 50 - and it felt warm inside. One home we visited this week was done halfway - it was plowed and shoveled, but the deck wasn't cleared off and I couldn't open the storm door because of the snow and ice build up (despite how much I kicked at it - the snow and ice, not the door!) The buyers didn't get to see that house either.

So let's plow through this winter and get your house sold!

Pricing your home is both an art and a science. Achieving the optimal price is the result both of objective research into comparable properties and a gut feeling about your property and the current market. The right price should attract buyers, allow you to earn the most money possible and help you sell as quickly as possible.

The simple fact is, price is the number one factor that helps homebuyers determine which homes they want to view. And it's important to remember that, although the price is set by you, the value of your home is determined by the buyer. Try to avoid allowing your enthusiasm to impact your better judgement - overpricing is a common mistake that can cost you in the end.

With that in mind, here are some reliable guides to use when pricing your home, all of which come recommended by the Council of Residential Specialists - a select group of REALTORS with significant experience and advanced training in residential sales.

Factors that affect your asking price:

• How quickly you need to sell
• The amount of competition in your price category and area
• The availability, flexibility and affordability of financing
• The sale prices of similar homes sold in your area during the past six months.

Factors that should NOT affect your asking price:

• The original cost of the property; price is determined by today's market
• Any investments you've made in improvements
• The cost to build your home today
• Emotional attachment
• The opinions of friends and neighbors

Problems that can arise from overpricing:

• You might help sell similar homes that are priced lower
• Your home may stay on the market longer
• You could lose market interest and qualified buyers
• You might create a negative impression of the property
• You could lose money by making extra mortgage payments while incurring taxes, insurance and unplanned maintenance costs
• You may have to accept less money
• A ptotential buyer may face appraisal and financing problems as a result of the inflated price

A Certified Residential Specialist like myself can help you price right. With a mix of real world experience and advanced training, a Certified Residential Specialist has the tools necessary to compute the fair market value of your home based on both the marketplace and personal considerations such as your must-sell date. Remember, the right price is the key to a successful sale so price your home accurately the first time.

A winter coat drive  for those in need is being held by the Lake Ariel office of CENTURY 21 Select Group. Donations of new or gently worn coats, hats, gloves and scarves can be dropped at their office located at 1226 Hamlin Highway, Lake Ariel. Please call Debbie Kveragas or Rose Sawyer at (570) 698-7845 for more information.

That wonderful season of Christmas is upon us once again. Doesn't it seem like we just put away the dishes from Thanksgiving? Maybe you are already busy with the preparations... pulling out old family recipes, getting the decorations out and baking cookies, so I won't keep you. I just wanted to be among the first to wish you and your family the happiest of holidays.

I would like to share with you a recipe for a tradtional holiday English Trifle. Born and raised in England, my mother followed tradition and made a HUGE crystal bowl of English Trifle for our family every Christmas. It was the highlight of our Christmas dinner. Now Mom made homemade custard and homemade cake for her trifle, but I have "Americanized" or "modernized" it for today's busy lifestyle. It is still delicious! Enjoy!

English Trifle (American Version)

1 white or yellow cake mix, prepared as directed on the box

2 large boxes vanilla pudding, prepared as directed on the box

1 or 2 cans of cherry pie filling

1 Container Cool Whip

1 jar Maraschino Cherries

Line a large decorative bowl with cake slices. Put a layer of cherry pie filling over the cake. Add a layer of pudding. Keep alternating layers until the bowl is about an inch from the top (or until you run out!) Cover with a layer of Cool Whip and arrange the maraschino cherries on top. Chill and serve. Yummy!

There may be no busier time of the year than the holidays. With all the preparations, decorating, baking, gift buying and wrapping, and holiday parties to attend, many home sellers decide to take their home off the market during the holiday season.

Here are some suggestions for you should you decide to continue marketing your home over the holidays. When it comes to holiday decorations, less is more. Put up your tree, hang a wreath and the stockings and give your home that general holiday glow, but don’t go overboard. You want potential buyers to feel that your home is a warm and welcoming place where they can envision themselves enjoying holidays in the future, but you don’t want so many decorations that your home begins to look smaller than it really is because every nook and cranny has a decoration. Keep it simple, but pretty.

Put out some candy canes or a plate of cookies. Better yet, bake some cookies just before the buyers arrive and leave some on a plate with a note for them to help themselves. Not only will the buyers remember that your home is the one where they got the treats (a real plus if there are children) but they will also remember that your home is the one that smelled so good.

Having your home on the market during the holidays does not mean that you have to let people into your home no matter what. If you are planning a holiday party or having out-of-town guests, simply let your agent know in advance that you need to block out that period of time.

The holidays are a great time to sell your home if you make it available. Everyone is in a celebratory mood, you have less competition and the buyers are serious.

The winter months are quickly approaching. Follow these quick tips to have a warm and cozy season in your home.

1. Roof repairs: If you can safely get onto your roof to inspect for missing shingles or other factors that may lead to a leaky roof, now is the tome to do it! If not, call a professional and have them take care of the rooftop work for you.
2. Seal it off: Inspect doors and windows to ensure that the weather stripping is in good condition. This will do an amazing job of keeping your house warmer and cozier.
3. Hot stuff: Make sure that your heating and ventilation system is in good working order. Clean out accesible ducts and replace filters where necessary. Have your system serviced annually.
4. Chimney sweep: Creosote, a black substance that builds up in the chimney when wood is burned, can cause chimney fires. Inspect your chimney for creosote and call a chimney sweep to keep your fireplace safe and functional.
5. Gutter check: Now is the time to clean out those rain gutters again. If you want to do it yourself, make sure that you can safely access the gutters and then scoop out any debris, blast the drains clean with a high-powered hose and repair any leaks you may find along the way. (What? You don't have rain gutters? Get some installed pronto!)

The Hideout recently received the Gold Star Community Award in recognition of excellence from the Community Association Institute (CAI), a national association that represents condominiums and community associations. The Gold Star recognition is awarded to communities that maintain high standards, encourages community participation, maintains fiscal stability, and positively impacts the quality of life for residents.

The Hideout was one of only three communities across Pennsylvania, southern New Jersey and northern Delaware to be recognized by the CAI.

Let's hear it for The Hideout! A great place to grow, live and enjoy life!

In our last “Homeowner Tips” we defined clutter as anything that is out of place, broken, unused or just something you really dislike.  Today we are going to start in one small place (a closet or junk drawer will do nicely) and put things in order! 

First, you will need 4 cardboard boxes and a large trash can.  Label the boxes as follows:

* Put away

* Fix

* Set Free

* Mementos

Set an alarm clock to go off in 1-2 hours.  You don’t want to overdo things!  Open the closet or junk drawer and select the first object.  Now we will use the four definitions of clutter to help us decide which box to use for each item.

* The trash can.  You will find plenty of stuff that is absolutely unusable.  Be ruthless.

* The “Put Away” box.  Anything goes in here that is out of place and would be better off in a more convenient location.  As soon as the alarm clock goes off you will take 10 minutes or so to put all the items in this box where they really belong.

* The “Fix” box.  If the item is damaged or missing a part, but you are certain you would use it regularly if repaired, put it in this box.  Objects can only reside in the fix box for one week before they have to change residence!  If you do not repair the item by week’s end it must go into the “Set Free” box.

* The “Set Free” box.  This box will hold items that you dislike, things you haven’t used in more than a year, orphaned gifts from friends and family (when you said, “Oh, you really shouldn’t have!”), things that still have some good use in them, things that will surely fit again “someday.”  This box will go in the trunk of the car.  You will take the box to a local resale store or to a charity center.  Many charities will even pick up this stuff at your front door—what convenience!  You will be doing a good thing, since someone will be getting some good out of these items right now.

* The “Mementos” box.  This one can be a bit tricky.  It’s for things that have true sentimental or family heirloom value.  You will want to invest in a cedar chest or other similar sized permanent storage unit.  The items from this box will go into that permanent storage.  But remember, that cedar heirloom chest will fill up rapidly if you are too casual about “what’s an heirloom.”  Consider passing on some of these things to extended family members right now—don’t wait 20 years!

Now you are one closet closer to having a serene, uncluttered home!  Next week take this same process and tackle another corner of the house!

In the next two articles I will be sharing with you some great tips on how to de-clutter and organize your home.  If you missed the last installment (Homeowner’s Declaration of Independence) please just give me a call and I would be happy to send one out to you.

The first step in winning the Clutter War is to de-bug your own mind!  Most of us don’t recognize clutter when it falls out of the closet onto our heads, so how in the world will we conquer it?  Let’s start by defining what clutter is.  Clutter is anything in your home:

* That is out of place.

* That is broken.

* That you have not used or worn in more than a year.

* That you dislike.

Now don’t panic.  I won’t be telling you to throw everything away that falls within the above definition of clutter.  BUT, once you get a clear picture in your head of what constitutes clutter you will be better able to deal with it!  In the next installment we still start in one small place to give you some practice in sorting through all that clutter.

As a long time homeowner I have had to deal with my number one enemy - the monster that lurks under every bed and in every closet - CLUTTER! Nothing will interfere with the enjoyment of your home as much as disorganization and clutter.

Over the next few weeks I will be sharing some tips on how to simplify your household and get organized. But first, let's look at some ways to prevent the clutter in the first place. You can call this your Homeowner's Declaration of Independence.

1. Garage sales are events you stage, not events you attend.  Unless you are a professional junk or antique dealer, there is no reason for you to ever attend a garage sale.

2. Discover the joys of borrowing. Let's be honest. There are some things you might only use two or three times a year. You don't need to buy these things! Your friends will be happy to dig them out from under their beds or the bottom of their closet and loan them to you.

3. Throw away those full color store inserts in your newspaper and the mailbox - do NOT browse them first. Those ads exist for one reason only - to make you think you need more stuff. I know, you think you are just window shopping, but that is the first step to buying a juicer with ten attachments, a second George Foreman grill or a desktop fountain just like the one in your attic.

4. Treat ebay and other internet shopping sites like disaster sites - steer clear of them. You will not escape unscathed. Clutter will leap into your shopping cart of its own volition!

5. Finally, if you absolutely must buy something, do it only to replace something you already have. It's okay to replace your grill, the refrigerator, etc - just don't multiply them!

Selling a home during the winter months can be a challenge. Dreary, cold weather can keep buyers away and heighten fears of your home staying on the market longer than expected.

If you are serious about getting your home sold, you should realize that this is actually a great time to sell your home. You may think you should take your home off the market because there are fewer buyers out at this time of year. That is true, however, those buyers who are out home shopping in the winter are very serious buyers. During the slack time in the market, the less serious buyers drop out. So show your home now to those serious buyers, especially as at this time of year they have less homes to choose from, lessening your competition.

There are a few things that you should do to increase your home’s appeal during the winter. Staying on top of winter maintenance and chores is a sure-fire way of adding value to your home. A neatly shoveled driveway and cleared walkway are a must.  Don’t forget to shovel by the side doors, the garage and decks. It is fine to have sleds, toboggans and that sort of thing visible as it will reinforce the idea that your home is fun. Just be sure they are leaning against the side of the garage or the side of the house and aren’t where someone will trip over them.

Make sure boots, coats, gloves, scarves and all those other cold weather items are placed neatly in the mud room or coat closet. Provide a good welcome mat for people to wipe their feet as buyers sometimes feel awkward about tracking through people’s homes.

Make sure the heating system is in good working order and that the room temperature is kept at a comfortable level. There is nothing worse than having a buyer zip through your home without taking the time to really take a look because it is so cold all they can think of is getting back to the warmth of the car. An unheated home can be colder inside than it is outside! Use weather stripping to seal any drafty doors or windows. Also, check to see that the basement is dry and sealed from any drafts.

Open as many curtains as possible to add light and color to rooms. It is also a good idea to keep spring and summer pictures of your home out on tables and in clear view. Photos of your front yard flowers or the backyard shade tree in full summer bloom can help swing many buyers in favor of a purchase.

Just as you would in warmer weather, take yourself on a tour of your home. Start in the basement and work your way through the house. More than likely you’ll see many previously undiscovered cluttered spaces and needed repairs that can turn off potential buyers. Don’t let something as simple and inexpensive as a missing switch plate make buyers think your home has been poorly maintained.

Winter is a great time to sell your home – make it available – you have less competition and the buyers are serious.