Anna Goodman's Blog

The color wheel is full of infinite options when it comes to decorating your home. You can spice up your walls with bold reds or cool your mood with ocean blues. How do you know what color is really you, though?

Well, if you're a child of the 1970's you could slip on your mood ring and let the power of the ring guide you, but if you're feeling a little pessimistic about this plan you could end up with black walls.

The truth is that color has real effects on us. In fact, many people are strong believers in the psychology and healing powers of color.

That turns the pressure on. It's time to choose a color palette for your home that will set the mood you most desire.

Are you looking to heal your body? The ancients believed that red hues stimulated the body and helped increase circulation. Indigo could help those nagging skin problems, they said. Blue can be used to treat pain. Orange was thought to help increase energy and yellow to purify the body.

Better Homes and Gardens, experts on home design, take color even further. They break down the elements of color and how different hues can warm the heart, create connection, and even inspire us to create!

Do you want your rooms to be warm and intimate? Warm colors such as red, yellow, and orange, while making some rooms appear smaller, do wonders for inspiring cozy evenings on the couch with a book.

Do you want to get the creative juices flowing? Try to infuse your rooms with splashes of bright color. Oranges, greens, and golden yellow "unleash creative juices in studios and home offices" says BHG.

If you're a little more laid back and want to have restful tones, then consider blues, greens, and purples. "Pale, serene greens slip quietly into a living room, bedroom, or reading room, hushing it with a whisper. Medium greens connect to nature, grounding and freshening the spirits of a home office, family room, or spa. Deep greens comfort a library, bedroom, or sitting room."

Do you like neutral tones. Yes, beige is still a color. This neutral palette can be great for creating a peaceful and serene setting. This color family also has a way of making small spaces appear larger, bringing in an airy aspect to your room. Consider using these colors in small spaces, such as bathrooms.

Color can inspire all sorts of moods. Let your home help you create cheer, inspiration, or intimacy.

The color wheel is full of infinite options when it comes to decorating your home. You can spice up your walls with bold reds or cool your mood with ocean blues. How do you know what color is really you, though?

Well, if you're a child of the 1970's you could slip on your mood ring and let the power of the ring guide you, but if you're feeling a little pessimistic about this plan you could end up with black walls.

The truth is that color has real effects on us. In fact, many people are strong believers in the psychology and healing powers of color.

That turns the pressure on. It's time to choose a color palette for your home that will set the mood you most desire.

Are you looking to heal your body? The ancients believed that red hues stimulated the body and helped increase circulation. Indigo could help those nagging skin problems, they said. Blue can be used to treat pain. Orange was thought to help increase energy and yellow to purify the body.

Better Homes and Gardens, experts on home design, take color even further. They break down the elements of color and how different hues can warm the heart, create connection, and even inspire us to create!

Do you want your rooms to be warm and intimate? Warm colors such as red, yellow, and orange, while making some rooms appear smaller, do wonders for inspiring cozy evenings on the couch with a book.

Do you want to get the creative juices flowing? Try to infuse your rooms with splashes of bright color. Oranges, greens, and golden yellow "unleash creative juices in studios and home offices" says BHG.

If you're a little more laid back and want to have restful tones, then consider blues, greens, and purples. "Pale, serene greens slip quietly into a living room, bedroom, or reading room, hushing it with a whisper. Medium greens connect to nature, grounding and freshening the spirits of a home office, family room, or spa. Deep greens comfort a library, bedroom, or sitting room."

Do you like neutral tones. Yes, beige is still a color. This neutral palette can be great for creating a peaceful and serene setting. This color family also has a way of making small spaces appear larger, bringing in an airy aspect to your room. Consider using these colors in small spaces, such as bathrooms.

Color can inspire all sorts of moods. Let your home help you create cheer, inspiration, or intimacy.

• 30-year fixed-rate mortgage (FRM) averaged 3.95 percent with an average 0.8 point for the week ending February 23, 2012, up from last week when it also averaged 3.87 percent. Last year at this time, the 30-year FRM averaged 4.95 percent.

• 15-year FRM this week averaged 3.19 percent with an average 0.8 point, up from last week when it also averaged 3.16 percent. A year ago at this time, the 15-year FRM averaged 4.22 percent.

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.80 percent this week, with an average 0.7 point, down from last week when it averaged 2.82 percent. A year ago, the 5-year ARM averaged 3.80 percent.

• 1-year Treasury-indexed ARM averaged 2.73 percent this week with an average 0.6 point, down from last week when it averaged 2.84 percent. At this time last year, the 1-year ARM averaged 3.40 percent.

  According to Frank Nothaft, vice president and chief economist, Freddie Mac:

  "New data releases this week suggest the housing market is continuing to gradually improve. Loans that were seriously delinquent (90 days or more past due plus the foreclosure inventory) fell to 5.3 percent of prime mortgages at the end of 2011, representing the lowest quarterly share since the start of 2009, according to the Mortgage Bankers Association. The Census Bureau reported new residential construction starts in January outpaced the market consensus forecast, led by condominiums and apartment buildings, and December's figures had upward revisions. Finally, existing home sales were at the strongest pace in January since May 2010, according to the National Association of Realtors®"

As you start to gather up your belongings and pack them away for your move, many sellers question which items they should leave out for buyer appeal.

Often the wrong items are left on display; things like family photos, personal keepsakes, and treasured belongings. All of these items should be safely packed away which very often creates open space (a plus for buyers) on shelves, refrigerator doors, and desktops.

Buyers often make a decision within just seconds of seeing your home about whether or not they want to buy it. So picture your home through the eyes of your potential buyers. What do you see in about 10 seconds?

When you walk up do you see children’s toys scattered across the front lawn. Do you see overgrown shrubs and weeds? Do you see chipped paint on the front door, a screen that’s torn? Do you spot oil spills on the driveway?

Even answering yes to just one or two of those questions can be damaging and that’s before your potential buyer has entered your home. Sometimes, those seconds are all the buyers need to decide to simply do a "drive by" and not even stop to go inside.

Of course, the goal is to get the buyers inside. To get them to spend time, feel like your home could be their home. But even though that goal is so widespread and common among sellers, somehow the decisions some sellers make are almost completely polar to the goals.

Let’s look at five tips that can make your home appealing to buyers.

Check all the screens and molding around your windows and doors. This isn’t at the top of a seller’s list but it ought to be. Even slightly torn screens send a careless message to buyers. It gives an unconscious uneasiness that there’s been, at the very least, lack of care for this home.

Something simple like fixing a screen is often overlooked by a seller because it is so simple, yet, just seconds of seeing the ripped screen can cause a negative impact for buyers.

Add artwork to long hall ways. You don’t have to buy artwork that costs thousands of dollars but, if your home has long hall ways, it’s nice to break up the monotony with some tasteful artwork. Use contrasting shades and hues to coordinate with the flooring. When you’re shopping for the artwork or borrowing it from a friend or your real estate agent or homestager, bring swatches of the carpet or flooring and wall paint to match the artwork colors.

Make the kitchen a focal point. Whether they cook or not, the kitchen is of primary interest to many buyers. Winning over buyers with an appealing kitchen can often convince them that they must have the home. Make sure your appliances are clean, sparkling, and working. Return on investment in the kitchen is usually high and worth every penny, and more, you put into it.

Put the "ah" in the bedroom. The bedroom needs to look like a bedroom. Sounds funny, but many people use their bedroom for other things such as an office or storage. Boxes or newspapers are scattered or stacked in a corner. There’s no "ah" or sense of relaxation with that kind of room. So even if that’s how you’ve been living, understand that’s not how you should show a home.

If there isn’t much space, clear the clutter out. Remove excess furniture. It doesn’t matter if you use it. You can walk to another room to get what you need if it means you sell the home faster because it now looks more inviting and spacious.

Making your home more appealing is about seeing your home through the eyes of your potential buyers. When it comes time to go over the offers, you’ll be glad you did.

When budgeting how much home you can afford, it’s important to understand and anticipate the costs of owning and maintaining a home. Here are a few things that some first-time buyers forget to include.

Private Mortgage Insurance

This is added on to your mortgage when the down payment is less than 20 percent. You can buy a home with less money but you’ll pay the PMI which covers the lender should a homebuyer default on the loan. As you build up equity, your PMI drops off.

Taxes

Property taxes generate revenue for municipalities, counties, and schools. It’s an expense that can vary across the U.S. However, on average, it’s 1.38 percent of the home’s value. Back East tends to have the highest property taxes.

HOA Fees

Homeowners’ Association fees (HOA) can add several hundred dollars to your monthly household expenses. These HOAs help to maintain common areas, typically within condominium complexes. They also govern what can be done to the unit and the surrounding area. While there is an up side to HOAs, some buyers prefer to have more freedom over their property, perhaps, until the neighbor paints his house turquoise with red accents.

Homeowner’s insurance

Lenders require homeowner’s insurance on your property. The amount you’ll pay depends on many variables including: where you live, the age, type, size of your home. For example, older homes can cost more to insure due to the fact that they may require more repairs than newer homes. Also, high-hazard areas can cost more to insure and some insurance companies may not offer an insurance policy for your home, if you’re in a high-risk area.

Utilities and appliances

These areas can be overlooked because, often, when people are renting the appliances are taken care of. When you own your own home, be sure to consider expenses such as the water heater or dishwasher breaking down. While, you can’t exactly figure out when an appliance is going to quit working, you can set a monthly allowance aside to start establishing a household repair fund. Just don’t touch the account or when you really need it, you’ll find it’s not there for you.

Inspections, appraisals, and closing costs

Many buyers understand they will have closing costs but they fail to budget for other items such as a home inspection. Sometimes inspections are paid for by the seller but it’s usually the buyer who pays for the inspection. And, even if the homeowner recently had a home inspection and has the report, a buyer still might want to pay for an inspector to have another look to compare the findings.

Depending on the home, there may also be other inspections such as for lead paint, pests or radon gas.

While the extra expenses do add up quickly, if you carefully budget and plan ahead, the goal of homeownership is achievable and very satisfying.

You may have been introduced to the term "quitclaim" deed. A quitclaim deed means there is no title covenant, or no guarantee of the title. Take it from the experts -- don't enter into one of these agreements.

Quitclaim deeds are only intended to be used by parties that know and trust each other, such as within a family. It should not be used during traditional sales and here's why.

A quitclaim deed means the seller doesn't guarantee that he/she actually owns the property! They are simply transferring whatever interest they have at the time of purchase.

In the still strong wake of the home foreclosure crisis, many owners are finding they've become the unfortunate victims of the robo-signing mortgage debacle.

According to RealtyTrac.com, the leading online marketplace of foreclosure properties, "The housing market has not completely escaped the clutches of this foreclosure crisis. Instead foreclosure processing delays in 2011 have artificially exaggerated what would have been a slow, natural decrease in foreclosure activity off the foreclosure peak of 2010. This artificial trough in foreclosure activity in 2011 will result in a corresponding double-peak in 2012."

These aforementioned "foreclosure processing delays" are direct effects of the robo-signing controversy, where documents had improper notarization and suspect signatures and are now being invalidated by courts, blocked by judged, and refused by insurers.

These weren't just small companies falling these procedures. Big names like Bank of America, JPMorgan Chase, and Wells Fargo were found to use these practices.

This scandal is nothing new. MSNBC reports that "Counties across the United States are discovering that illegal or questionable mortgage paperwork is far more widespread than first thought, tainting the deeds of tens of thousands of homes dating to the late 1990s. The suspect documents could create legal trouble for homeowners for years."

"Because of these bad titles, property owners can't prove they own the properties they think they bought, and banks can't prove they had the right to sell them," says Jeff Thigpen, the registrar of deeds in Guilford County, N.C.

Distressed properties were scooped up across the nation by eager, and sometimes less than thorough or honest, investment companies who then unloaded them without clear titles, legal notary, or proper signatures to unsuspecting buyers.

Many of these buyers who were impressed by the ease of purchase are now discovering that documents that must be officially signed and notarized had simply been "robo-signed", sometimes without even the right person's electronic signature.

Now, in order to sell with a clear title they must now do the legwork of tracking down signatures and filing paperwork that should have been handled by the mortgage investment company. This has led to contract cancellations and lost sales.

If you are looking to buy property in today's housing market, be sure to pay careful attention to dotting the i's and crossing the t's in your contract. Be sure that you are receiving a clear title done the old fashioned way with a guaranteed loan.