Friday, September 30, 2011

Don't Misjudge a Property by Its Street Face

Provided By Realty Times

For real estate buyers, the process of purchasing a home, or cottage, can be overwhelming. Many purchasers, particularly first-time or first-time-in-a-long-time buyers, are relieved that at least part of the process is easy—viewing properties. That's where they make a big mistake.


It seems easy.

Look at a house from the street, and you either like it or you don't.
Walk through a house or condominium in 30 minutes or less, and you either love it or hate it.
Pretty presumptuous. Without specific construction knowledge and an eye for interior design—and in less time than typically spent picking out new clothes—buyers decide where to invest hundreds of thousands of dollars which they usually have to borrow. After one brief viewing, do you know that particular house, townhome, condominium unit, or recreational property well enough to know "This is it"?

The odd thing is that buyers know they can be tricked.

There are enough makeover television shows, websites, and publications making millions doing just that. The "before" picture is a dump. The "after" picture is stunning. Usually, it's just paint, nicer furniture, and talented interior design that makes the difference that buyers pay for.
Smells are a big turn off, yet buyers know that if smell-cancelling products had been sprayed around, the place would smell sweet, but they still pass on a chance for a sweet price.
Bad decorating or sloppy housekeeping generates "I couldn't live here" reactions. Yet, buyers are not moving in with the seller, furnishings and decor intact. Viewing a property means imagining your own furniture and decor in place of what's there now. Won't be long before a program or app will allow buyers to do exactly that with each potential buy. Until then, forget whether you'd want to live with the sellers, and concentrate on placing your personal stamp on the property to test its home-worthiness.
Logically, TV's demonstrated cosmetically-induced increase in real estate value should have buyers searching for money-saving "before" real estate. Instead, an industry has been carved off the real estate profession—staging—to superficially transform the saddest "before" real estate into a stunning "after." Buyers now willingly pay more (that's really borrow more) to view and buy an "after."

Real estate professionals are always ready to help buyers see genuine value in a "fixer upper," which often just need new paint and an up-dated look. Their training and experience has taught real estate professionals to first appraise properties by location and quality of construction. Then they add on or subtract the elusive amount that represents market appeal, or the lack of it, to arrive at market value.

While interest rates remain low, buyers continue to search for their "dream home." As interest rates rise and economies tighten, the drive for a "real buy" may overtake the bedazzled-style of buying. The uncertainty of investment markets will also place the emphasis on buying substance which will steadily appreciate in value over time.

If you decide to search out a great "real buy," there are a few of PJ's Smarten UP tips to keep in mind:

Virtual tours can reveal traffic flow problems and unappealing features, but they should not be a deciding "no view" factor if the location is ideal and the price affordable.
Curb appeal may get you in, but a property's bad street face should not keep you out when the location is great. If fewer people see the inside, competition will be lower. The property may be on the market longer, so the property owners more flexible. If curb appeal is lacking, when you're the owner you'll make money by adding value to the exterior.
Major structural issues like sagging beams and "in the way" bearing walls will cost money, so arrange professional estimates to back up an offer that reflects the costs ahead.
Plumbing and electrical work are a another expense. Knob and tube wiring may not be insurable, so be sure home inspectors know their job and are thorough. Too many times, electrical service has been doctored to look as if knob and tube has been removed, but it was merely patched with new wiring in visible places.
Particularly in southern Ontario, termites are increasingly a problem. Not discussed openly, there are specific areas of Toronto and other communities where termites flourish and they aren't going away. The key is protecting your property by treating the soil regularly. Is a great location worth that to you?
Do not look at furnishings or colour choices, especially great ones. Problems can be hiding under cosmetics. Anything newly-done should be examined closely. Watch makeover shows to see "what" will hide "what."
Viewing potential real estate is just as complex as every part of buying. Whether or not you love the real estate's street face, give it a good going over if the location and price are right for you. It's not what you see but what you know about real estate that make it and you valuable.

Looking for a great home? Give us a call at 972-772-7000 or email us at frontdesk552@kw.com.

Wednesday, September 28, 2011

Choosing The Best Lender

Provided By Yahoo!

You're shopping for a mortgage and you've received four offers from four lenders. How do you choose? The first factor most people consider is the interest rate and other costs, but that's only the beginning. You'll also want to think about the lenders themselves, not simply the numbers they're tossing your way.

Here are five steps to follow when determining which lender is right for you:

1. Compare fees as well as interest rates

Comparing loans based on their annual percentage rate (APR) is a good place to start, but it's not enough. In the case of a mortgage, to get a more accurate breakdown of costs, ask the various lenders for a formal "good faith estimate" of all the fees you'll incur with your loan -- this is a standard form lenders must provide you that is more detailed than the overview you'll get with an offer. Also, ask about potential charges that may not appear on that list, such as prepayment penalties. You're not just comparing numbers here: determine how honest and upfront you feel the lender is being, and don't use a lender that you feel is evading your questions.

2. Consider your individual circumstances

Bigger lenders aren't necessarily better than smaller ones, especially if you have unusual circumstances. For example, some lenders specialize in loans for people with poor credit, while others may have more options for those with small down payments. If you have special borrowing needs, look for a lender with experience working with people in similar situations.

3. Look at the range of loan types available

There are more loan options available than ever before, so take advantage of all that choice. Look for a lender who offers a wide variety of loan types, from conventional fixed-rate and adjustable-rate to newer ones such as hybrid ARMs and option ARMs. Your lender should be able to match you with a mortgage that's right for your financial situation and risk tolerance.

4. Evaluate the level of customer service

When you're comparing offers, ask each lender about their policy regarding locking in their quoted rates and see whether there is a fee. Also, ask them to amend one of the terms (such as a payment cap) and see how willingly they agree. You're looking for flexibility and responsiveness. And also note how well they listen to you. If you ask for a 30-year fixed-rate mortgage, they ought to present that as an option, not push you toward something different, such as an interest-only loan. If you're not getting good service from a lender who is competing for your business, you're not likely to get it after you've agreed to work with them.

5. Check out the lender's reputation

Word of mouth is important in every business, including the loan market. If you've never worked with a particular lender, you'll want to find out the opinion of people who have.

Are you ready to purchase a home? Give us a call at 972-772-7000 or email us at frontdesk552@kw.com.

Monday, September 26, 2011

Considerations for Today's First-Time Buyers

Provided By Realty Times

First-time buyers are naturally very nervous about entering the market. This was true during sky-high interest rates in the 1980s. It was true when the real estate market was booming in 2005. It is still true today.


Newbies to the market worry about the cost of buying, the process itself, and of course what it will mean for them to be a homeowner. Owning a home is typically the biggest financial responsibility a person will undertake. It starts with the cost of a downpayment and closing costs and continues with a monthly mortgage payment and annual maintenance and repairs.

Today's market, however, brings new worries to the table. The economy is on the brink of a renewed recession. Fewer buyers can qualify for a home mortgage, especially since many lenders want at least 20 percent down. Plus, unemployment rates have remained consistently above 9 percent.

What do first-time buyers really need to know about today's market? Here are some things to consider.

Interest rates are at historic lows, with 30-year fixed rates between 4 and 5 percent! This is incredible. Imagine the difference between an interest rate of 4 percent and one at 13 percent. For a $100,000 with 20 percent down, you'll find a payment near $568 a month. For the exact same home at 13 percent you'll see a monthly payment of just over $1,000.

Home prices fell after the bubble burst, leaving affordability rates at generational highs. This means there are great deals to be had. In addition, there are a large number of foreclosure and short sale properties available, sometimes at even more savings.

This means prices are low and interest rates keep them that way. You will still need a downpayment, however. This is now expected to be at least 20 percent of the total cost of the home.

It's not all silver linings, though. Home values are still falling. It is of paramount importance that if you're in the market to buy, you must research your own local market trends. Are home values plummeting? Are they holding steady? Many times the housing market is directly linked to the health of the jobs market. What is the state of employment in your community?

There are reasons to buy other than just making a sound financial investment. If you plan on remaining in your home for many years to come, then now is a good time to buy regardless of pricing fluctuations. The social benefits still remain strong and your home will be an investment over the long-term.

Be sure to think long and hard about the true cost of homeownership and if it's right for you. This is not a time to get into a financial situation you can't handle. Is your job steady? Do you have an emergency fund in addition to your downpayment amount?

Hiring a knowledgeable real estate professional can be an excellent first step on your way to finding the right home for you. They can help answer all of your questions about the process. There's no reason to go into this process blindly. Let them guide you.

Buying a house is a big decision, but don't let scary headlines deter you. There are great deals to be had in today's market.

Are you a first time home buyer? Give us a call at 972-772-7000 or email us at frontdesk552@kw.com.

Friday, September 23, 2011

HOA Board Transparency

Provided By Realty Times

Governments have problems. The leadership of city, state, and federal governments is populated with people that are largely untrained in the broad variety of topics put before them. HOAs are a form of government but like no other. The entire membership has a direct interest in the outcome of how well, or how poorly, the HOA business is run. This isn't the case in the other forms of government where there is little individual voters can do to make changes. Not so with an HOA. With some effort, HOA members can oust the board or vote in a new bunch.

There are other controls. The governing documents can only be amended by the members, not the board. That is real power. Doing that with the other forms of governments is not possible. Since voters are little control over what their elected representatives do, most don't pay much attention or develop the attitude that "whatever they do doesn't affect me personally". Of course, that kind of thinking is exactly why elected officials get away with what they do.

HOAs have actually brought us much closer to the way things used to be when democracy was more accessible. An HOA board is only able to lord over the members if the members let it. But HOA members have a real and viable way to gain relief from oppressive government. It does take some effort to gain that relief but the means, at least, are there.

Fortunately, the majority of HOAs are relatively well run and the community harmonious, in spite of being run by amateurs. And the amateur boards that get educated on the process really shine! But most boards still have room for improvement in the communication department. The core philosophy here is "Transparency". Do not operate behind closed doors or withhold information that every HOA member is entitled to see. (There are exceptions to this rule, but the list is short: ongoing litigation, employment issues, competitive contract bidding). Here are several ways to keep the body politic transparently in the know:

Annual Planning Calendar. This is a multi-use document that combines meeting, social and maintenance dates all in one place. Meetings should be calendared a year in advance and major maintenance well in advance so that residents can make alternate plans.

Email. Pre-Y2K, there was still a significant amount of the population that was internet challenged. Today, few make that claim. Even the seniors have invaded Facebook. Make use of this reality by communicating that way to all that want it. Save time and save money.

HOA Website. If your HOA does not have a website, run, don’t walk, to one of the many providers that specialize in user friendly HOA websites. Basic websites which would work for most HOAs are available for less than a $1 a day.

Open Meetings. All HOA members have the right to attend board meetings. The fact that most don’t doesn’t mean the board should not advertise them and hold them in guest friendly venues.

Circulate the Meeting Minutes. All HOA members have the right to know what the board is up to. Make DRAFT minutes available within a week of each board meeting.

Make Financial Reports Available. All HOA members have the right to know how their money is being spent. Make them available upon request.

Have and Follow a Reserve Study. This 30 year plan charts a course for the board to follow for scheduling major repairs and a funding plan for accumulating the money to pay for it. If you don’t have one, contact the Association of Professional Reserve Analysts www.apra-usa.com for a list of credentialed Professional Reserve Analysts (PRAs) that can provide this invaluable service. Oh, by the way, the HOA members are entitled to see the reserve study because, again, it’s their money that will be paying for those repairs.

Newsletters. Publish quarterly newsletters to remind of frequently violated rules, contact information, upcoming projects and meetings. It doesn’t need to be a major production. One or two pages will do. Send it by email to reduce cost.

Board transparency will reap great rewards by building confidence and trust. This is one glass house that will clearly show that the board has nothing to hide. This emperor is fully clothed.

Have more questions? Give us a call at 972.772.7000 or email us at frontdesk552@kw.com.

Wednesday, September 21, 2011

Give Where You Live!

“All The Woulda-Coulda-Shouldas
Layin' In The Sun,
Talkin' 'Bout The Things
They Woulda-Coulda-Shoulda Done...
But All Those Woulda-Coulda-Shouldas
All Ran Away And Hid
From One Little Did.”
― Shel Silverstein




Remember that the manner of giving is worth more than the gift. To learn more on how you can make a difference in the Rockwall community through Rockwall Cares call us at 972.772.7000 or email us at frontdesk552@kw.com.

Tuesday, September 20, 2011

Monday, September 19, 2011

Homeowners Expect Prices to Fall

Provided By Realty Times

Has renewed concerns over the job market affected the way agents and homeowners feel about the market? HomeGain's nationwide third quarter 2011 home values survey found that forty-seven percent of surveyed real estate professionals nationwide expect home values to decrease over the next six months.

Additionally, an overwhelming majority of buyers feel that homes on the market are still overpriced, with 30 percent reporting they feel homes are overpriced by 10 to 20 percent.

Is this opportunism running rampant? Recent studies in affordability rates could lead us to believe so, as home values have plummeted across the nation and are already at generational highs.

Is the sentiment of overpriced homes a symptom of reduced consumer confidence in the market? Lynn Franco, Director of The Conference Board Consumer Research Center, reported late last month, "Consumer confidence deteriorated sharply in August, as consumers grew significantly more pessimistic about the short-term outlook. The index is now at its lowest level in more than two years. A contributing factor may have been the debt ceiling discussions since the decline in confidence was well underway before the S&P downgrade. Consumers' assessment of current conditions, on the other hand, posted only a modest decline as employment conditions continue to suppress confidence."

On top of these already dismal findings, foreclosures are still a large segment of most area markets. The largest percentage (32 percent) of those surveyed see 10 to 20 percent of the market made up of foreclosed properties.

“Homeowners have joined real estate professionals and now share their dour view on the direction of home prices. Last quarter only 30 percent of homeowners expected home prices to drop in the coming six months while 50 percent of real estate professionals expected price declines. In the current survey 45 percent of homeowners and 47 percent of real estate professionals expect home price declines in the next six months,” said Louis Cammarosano, General Manager of HomeGain.

Are you curious to know which states real estate agents and homeowners think will see price increases in the next six month? HomeGain supplies us with the list.

•Arizona
•Florida
•Texas
•California
•Ohio
•Tennessee
•Colorado
•Georgia
•Virginia
•Washington

On the flip side are the 10 states where agents and homeowners expect to see home price declines.

•New Jersey
•Pennsylvania
•North Carolina
•Georgia
•Virginia
•Illinois
•Massachusetts
•New York
•California
•Ohio

It's important to point out that several states made both lists. How can this be? It's just another clue that our market is volatile and unpredictable at this time. Too much of the housing market is tied to fluctuations in the jobs and stock market. Yet, real estate is extremely localized as well. You may have a boom market on one side of Ohio while another city across the state experiences declines.

In a down national economy, such as the one currently seen in the states, it's wise to keep an eye on national economic trends in stocks, jobs, and banking. It's also wise to take a hard look at your local economy. It may be the best future indicator of where housing will go in your community in the next six months.

Are you interested in learning more about home prices? Give us a call at 972.772.7000 or email us at frontdesk552@kw.com.

Friday, September 16, 2011

Foreclosure Definitions and Terms

Provided By Trulia.com

Learn more about common definitions and terms used throughout the foreclosure process by mortgage lenders, investors, and real estate professionals.

Notice of Default (NOD): The initial document (non-judicial) filed by a trustee that starts the foreclosure process, usually after the occurrence of a default under the deed of trust, or mortgage. Both LIS and NOD are part of the PRE-foreclosure process.

Lis Pendens (LIS): Notification of pending lawsuit. The initial document (judicial) filed by an attorney or trustee that starts the foreclosure process after the occurrence of default under the deed of trust or mortgage. Both LIS and NOD are part of the PRE-foreclosure process.

Notice of Trustee's Sale (NTS): A filing by notice announcing a public auction.

Notice (Judgment) of Foreclosure Sale (NFS): An order signed by a judge, directing a "Notice of Sale" be published and that a referee (trustee) sell the property at public auction.

Real Estate Owned (REO): "Real Estate Owned" by the lender; the final step in foreclosure process. This document conveys property ownership back to lender.

Government-Owned (GOV): A foreclosed property offered for sale by the government. When a property purchased with a federally insured mortgage (i.e., FHA, VA) is foreclosed by the lender, the federal government pays the lender what is owed, takes possession of the property, and offers the property for sale.

Foreclosure: A legal procedure by which mortgaged property is sold, upon default, in order to satisfy a debt. Foreclosures generally are governed by state law, and rules may vary among states.

Deed of Trust: A type of security instrument where the borrower conveys the property's title to a third party (trustee) to be held "in trust" as security for the note.

Mortgage: A conveyance of an interest in real property, given as security for the payment of a debt. An agreement between two parties: borrower and lender.

Assignment of Deed of Trust or Mortgage: Assumption by a purchaser of liability for payment of an existing mortgage, or deed of trust. May or may not be accompanied by a release of liability of the original borrower.

Novation: The substitution of a new contract between the same, or different parties; a substitution, by mutual agreement, of one debtor for another, or one creditor for another. The result is that the old contract is extinguished, and a new contract is created, usually with the same content, but with at least one different party.

Declaration of Default: A document instructing the trustee (usually appointed by a bank) to prepare and record a Notice of Default (NOD), and if necessary, to sell the property at auction in order to satisfy the unpaid obligation or lien.

Full Reconveyance: A document prepared by a trustee, when an obligation secured by a deed of trust, or mortgage, is paid back in full. Once recorded, this reconveyance eliminates the lien from the property's title.

Junior Lien: A legal claim upon real property recorded subsequent to (after) another claim or legal obligation (for example, a senior lien would have priority in most cases).

Postponement: A verbal announcement made at the time and location of the scheduled trustee's sale, resetting the auction for a later date.

Publication Letter: A letter, when signed by the beneficiary (lender), authorizing the trustee to prepare, publish and record the Notice of Trustee's Sale (notice of auction).

Publication Period: A period beginning at the expiration of the default period, and ending when the trustee's sale has been conducted. During the publication period, the Notice of Trustee's Sale is published, posted and recorded.

Recession of Notice of Default: After an amount in default has been cured, or paid-back, this document, when signed by the lender and recorded by the trustee, removes the burden of the previously recorded Notice of Default.

Reinstatement Period: The time period beginning when the Notice of Default is recorded, and ending five business days before the trustee's auction sale. The default may be cured, or paid-back, at any time during this period by paying all delinquent amounts, including the trustee's fees and costs.

The information above was gathered from sources deemed reliable and is intended for informational purposes only. Please consult official assessment records. State and county terms and policies may vary so consult your local bylaws.

Are you interested in learning more about foreclosures? Give us a call at 972-772-7000 or email us at frontdesk552@kw.com.

Wednesday, September 14, 2011

Tips to Increase Home Appeal

Provided By Realty Times

What sells a home? Is it the price, location, or condition? The truth is that it takes a combination of all of these factors to make a sale in today's market. Unlike boom era transactions, the seller is now in the passenger seat. Buyers today have a great advantage. A glut of homes in many markets means that supply far outweighs demand. Buyers are able to be choosy and to negotiate sweet deals.

When your home is on the market you want to be noticed and for the right reasons. It's a competitive advantage that could mean the difference between making the sale or not. Let's look at five top ways to increase your home's appeal when it's on the market.

1. Stage for Photos: We are a visual society. Webcasts, virtual tours, and the Internet have made staging for photos and showings an integral part of any marketing plan. Pictures amplify problems. It's a moment frozen in time, available for a viewers deepest inspections. This means you must create a perfect moment in time. Remove any clutter or excess furniture. Rearrange furniture with looks taking rank over functionality. If your furniture has seen better days, consider budgeting for furniture rental. Add detailed touches, such as cut flowers, throw pillows, and lit fireplaces.

2. Clean: While smells and grime don't always translate in pictures, they will definitely be a buyer deterrent during showings. If your home needs a lot of scrubbing, either hire a maid service or work on one room at a time until they all shine. Buyers are especially turned off by dirty bathrooms, kitchens, and odors. Scrubs these rooms and burn candles or spray room fresheners.

3. Enhance Curb Appeal: Curb appeal is the first impression of the real estate market. Yes, buyers do judge a house by it's "cover." The outside must create a desire to see the inside. To accomplish this you may need to spend money to make money. Cosmetic enhancements go a long ways. Start small and work your way up. Powerwash the deck or sidewalk. Fix broken stones and plant new landscaping. Clean and mulch existing landscaping. Add new shutters, house paint, an accent color on the front door, an updated exterior light, and new patio furniture. Staging doesn't stop at the front door. It goes from property line to property line.

4. Price Competitively: Buyers are more dollar conscious than ever. Fears of a renewed recession and a high unemployment rate have them wanting the best deal for their money. Buying in today's market means low interest rates and high levels of affordability. Buyers aren't willing to pay more for an image or an idea. Be sure to be realistic about what your home is worth in today's market. Prices have changed, dramatically in some areas. If you price too high you run the risk of scaring away would be buyers. Price correctly from the beginning.

5. Hire an Agent: Perhaps this should have been number one. Many sellers may be considering doing a For Sale By Owner in an attempt to save money on closing costs in these tough times. That could be a big mistake. Buyers have the upper-hand in negotiations these days and without an experienced professional by their side, they could get taken advantage of. Agents also have access to a larger pool of potential buyers. Buyers seek them out when they want a home.

Selling today is possible. In fact, many areas are seeing increases in existing-home sales. Buyers know now is a great time to buy, you just have to convince them that they should be buying your home.

Selling your home and need more tips? Call us at 972-772-7000 or email us at frontdesk552@kw.com.

Tuesday, September 13, 2011

Thank you!

We would like to send a BIG thank you to all our Rockwall KW agents that have donated and will donate to our KW Cares and Rockwall Cares organizations, you are making the difference!

-Rockwall Cares Committee


Monday, September 12, 2011

Calcucalating Closing Costs

Provided By Trulia.com

One of the most confusing things about the process of closing on a home is the variety of closing costs. The costs can include points, financing costs, title insurance and taxes.

These costs can vary across the U.S., can vary by lender, and can also be higher if a buyer's credit rating is low. But, as a rule of thumb, estimate that your costs will be anywhere between 3% and 6% of the price of your home, according to the Federal Reserve Board. As a buyer, it pays to shop around for lenders who offer the lowest closing costs. The FRB offers a very detailed list of common closing costs and their estimated prices.

How can you calculate what your closing costs will be? Follow these steps:

Review your lenders' good faith estimates
Federal law mandates that lenders provide mortgage shoppers with what's called a "good faith estimate" of settlement fees, or closing costs, that a lender will charge you upon the closing of your home. Good faith estimates -- which include estimations of the mortgage-related closing costs your lender will charge you -- are available to you early in the process, when you are shopping for a mortgage.

Get good faith estimates from two to three lenders and compare their costs. There will be a laundry list of fees noted on these good faith estimates, among them: the loan origination fee, loan application fee, "buydown" points, appraisal fee, survey, title search and title insurance...the list goes on.

Ask about any fees that seem unnecessary -- these may be "junk" fees that can be easily eliminated if you ask your lender.

Using these good faith estimates, try to negotiate lower fees with your preferred lender and ask lenders to meet or best other lenders' offers. Do this comparison shopping before signing for a loan.

Research
There are several places you can go online to estimate what your closing costs may be. On Trulia, try the SmartClosing Calculator for a calculation of what your closing costs may be by entering in variables like the home's address and your loan details.

FreddieMac.com also offers a closing costs calculator, as well as a closing costs worksheet.

Compare
At the closing of your home purchase, you will be required to sign a Final Settlement Statement, also known as a HUD-1.

This statement will list the closing costs and fees that will be charged to you, the buyer. By law, you can ask to receive a copy of this statement and view it at least one day before closing.

Be sure to review the list ahead of time, checking that everything is correct. This statement will give you a true picture of your closing costs (and is a better statement of your closing costs than the estimations that were provided in the good faith estimate from your lender.)

Compare the costs on your good faith estimate to those on your final settlement statement -- the fees listed on the settlement statement should compare very closely to those on your good faith estimate.

For more on the settlement statement and federal requirements put into place to protect consumers, read "RESPA - Real Estate Settlement Procedures Act" at hud.gov, the website for the U.S. Department of Housing and Urban Development.

Are you ready to buy a home? Give us a call at 972-772-7000 or email us at frontdesk552@kw.com.

Monday, September 5, 2011

The Origin of Labor Day

Provided By HUB Pages

The first Labor Day was organized by Peter J McGuire in 1882. McGuire was a carpenter and one of the leaders of the American union movement.

Over 10,000 workers marched from New York's City Hall to Union Square. After the parade they enjoyed a picnic, concert, and speeches at Reservoir Park with their families.

In many cities across America, Labor Day continues to celebrated in the very same fashion.

Different countries around the world also celebrate the holiday along with the United States.
Have a Safe and Happy Labor Day!!


Friday, September 2, 2011

Use Paint To Manipulate Mood

Provided By Realty Times

Painting your home is a great way to enhance the appearance of your home, especially when it's time to sell.

But don't just slather on a fresh coat for the sake of upgrading.

Choose colors that will enhance your mood.

When it's time to sell, anything that you can do to improve the mood of today's buyers also will help you sell your home.

"Repainting is a low-cost way to greatly enhance the appearance of a home, and new paint colors can actually have a positive psychological effect," says Debbie Zimmer, spokesperson for the Paint Quality Institute.

First, a first coat of paint itself is refreshing and uplifting. It helps remove that stale, musty, moldy, moody odor in older homes or those with outdated paint jobs.

Certain colors can further enhance that feeling.

The institute says pale blue or soft greens are great for bedrooms and family rooms because the hues can be very calming or refreshing depending upon the shade.

Likewise, paint in taupes and browns create a more tranquil environment, but they also impart more of a sense of warmth and coziness, than blue or green.

Use taupes and browns judiciously. Darker shades can become overbearing and evoke brooding.

If you want to inject a little more vim, vigor and vitality, even optimism into your environment, look to the sun. Yellow, like rays of sunshine, can lift your spirits and brighten your outlook. Kitchens and baths shine in yellow.

The institute says apricot, cinnamon, and tangerine are also energizers.

Reds and burgundies take that feeling further and can turn a room into a passion pit.

Just be careful where you slather on the reds. They can become overbearing, literally increasing your heartbeat. They may not be a good choice for the home office.

Generally, the tone, brightness or shade of a color should always be factored into the color scheme. Brighter tones invigorate, while those that are muted and softer tend to be more relaxing.

Zimmer also advises using only the best quality paint.

"Top quality 100 percent acrylic latex paints cost more than ordinary paint, but they offer the best value. Not only do they last longer and continue to look fresh over time, but they often save you money right away from an application and performance standpoint,” she says.

Here's one more uplifting factor about paint: The do-it-yourself price of only about $100 to $200 per room will also have you feeling pretty good.

Need more decorative ideas? Give us at call at 972.772.7000 or frontdesk552@kw.com.