Category: Uncategorized

Many people don’t realize that the term “first time homebuyer” is not necessarily a literal one.  If you are interested in taking part in a state or local program for a first-time homebuyer, you should research the true definition according to the individual program.  Some programs define a first-time home buyer as someone who has never owned a home in that specific area or who hasn’t owned a home in that area within the past three years.  Most of the time this means if you owned a home more than three years ago in the same area or even if you currently own a home outside the area covered by the program you can still be considered a first time home buyer.  There can be many other obstacles to qualifying for first-time home buyer assistance, but understanding that you could possibly qualify is the first step.

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-629-6693.

A short sale occurs when a home sells for less than the seller owes on it.  In this case, the bank agrees to the loss they will take by agreeing to the sale price.  A short sale helps a seller avoid foreclosure which could ruin their credit report.  Short sales can be a significant bargain, but in reality they are anything but short.  As a buyer you will have to be very patient should you decide to purchase a short sale property.  Not only will you have to agree to a price and terms with the sellers, but then the bank also has to agree to all of the same terms, which can take up to months.  In addition, it is not likely that you will be able to write any contingencies into your contract.  Any negotiation you want to do will probably not work in your favor since the bank will already be losing money and only cares about the bottom line.  If you go the short sale route, keep in mind that just because you and the sellers agree on the terms of the sale doesn’t mean that the house is yours.  Lenders approve less than 50% of all short sales, so you may spend months waiting on news only to be answered with a big, fat no.

If a short sale does work for you, be sure you are getting a clear title to your home.  It is helpful to have a good agent and real estate attorney on your side to help you through all the contractual nightmares that a short sale can bring.

Short sales are not for everyone, but if you are willing to be patient then they can pay off big-time.

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-644-2266.

If you’re trying to decide whether to keep renting or buy a home, consider the following questions:

1.  Where will you be in the next 5 years?  If you buy a home, you need to live in it long enough for it to appreciate in value.  If you end up moving, changing jobs, or anything else unexpected comes up, selling a home quickly can result in loss of money.

2.  How’s my credit?  Look into your credit and the credit of your partner if you are buying together and take steps to fix any discrepancies before applying for a mortgage.

3.  What’s the expense?  In addition to the down payment and cost of the mortgage, consider the expense of insurance and taxes, monthly upkeep and maintenance as well as any necessary repairs.

4.  What’s the market like?  Don’t just look at the current market, take into account over the past few years too.  Resist the urge to pay more than you should for a home and keep in mind that the more quickly you have equity in your home, the less of a burden it is.

5.  Plan your exit.  Decide what you will do if and when the time comes for you to move.  Keep in mind that you will not be able to sell for a profit until home values rise in your market or until you’ve lived there long enough to have equity in your home.

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-856-6434.

If you google home remodeling, it’s easy to come across lists of which improvements give you the most bang for your buck and which improvements will be difficult to recoup in selling costs should you ever decide to move.  However, if you know you’re going to be in your home for the long haul, should renovating be about what works best for your family and not what is going to get you the most money if and when you ever decide to sell?

If your object in remodeling is to enjoy living in your home even more than you do now, then consider a few of these improvements instead of some of the more traditionally encouraged renos:

1.  Rethink bathrooms
There are a few ways you can get creative if you’re looking to change up your bathrooms.  First, consider sharing the master bath.  Meaning, position the floor plan so that the tub and sink are accessible to the rest of the house.  This can prevent you from needing a separate half bath.  Think about it!  How often do you use the toilet/sink portion of your master bath during the day?  You could always have a second sink in the “master” portion of the master bath as well.  That’ll still save you money!

Another idea is to do a similar thing with a second bathroom.  Tuck the toilet and shower away, and have a nice double sink in a separate attached area.  This will allow three people to get ready at once without needing three separate bathrooms!

2.  Consider a walk-in pantry or two
Cabinets can be very expensive and depending on how tall you are and how they are positioned, can also be a pain to utilize efficiently.  Consider using kitchen wall space for windows and building a couple of walk-in pantries instead.  They save space, store a lot more stuff in a more convenient configuration, and they cost less to build than cabinets do to install.

3.  Shower vs. Bath
The idea of a big bathtub is nice, but unless you use it often, it’s probably not worth the space it’s in.  Consider installing a large shower instead.  You will use it more often, guaranteed!  Plus, it takes up less space and saves you money since it uses less hot water.

4.  Skip the vaulted ceilings
Unless you are absolutely convinced that the drama of a vaulted ceiling will make your life better, consider skipping it.  It might add square footage, but it isn’t square footage you can actually use.  Rooms with high ceilings are harder to clean and decorate and cost way more money to heat and cool as compared to rooms with average ceilings.  If you really want high ceilings, go for the 10 foot ceiling and cap it there.  There are plenty of tricks for adding the illusion to height of a room if you feel too claustrophobic.

5.  Go for the view
If you have a great view somewhere, capitalize on it!  Instead of placing a couple of windows in each room, choose a room that faces the view and put (almost) all of your windows there!  Trust me, you won’t regret it.  One of the most beautiful homes I’ve ever been in was in Alaska.  It was not that fancy or that large, but two walls of windows in the living room looked out over one of the most amazing views I’ve ever seen!  I just wanted to sit in that living room all day long and stare!  I still drool when I think about that otherwise plain house.

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty – 302-644-2266!

When you are buying a home, the industry standard is a 30-year mortgage.  However, if you can swing it there are definite advantages to a 15 year mortgage instead.  The biggest benefit of a fifteen-year mortgage is, of course, that you pay your home off in half the time and wind up saving a lot of money in interest.  In addition you will also accumulate equity in your home faster as you pay off the principal, which could free you up to take out a home equity loan if needed.  Of course, you shouldn’t bury yourself to be able to afford a fifteen-year mortgage.  Remember that you don’t want to spread yourself too thin… your home should not be your only source of savings.  You also want to make sure you can save for retirement and emergencies each month.

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-644-2266.

The idea of flipping a home is less popular now than it was a decade ago, but it’s still out there.  If flipping a home is something you’ve ever thought of, here are three tips for you:

1.  Remember the 70% rule.  In order to profit from your purchase, take the price that the home will sell for after renovations and factor 70% of it.  Subtract your renovations from the 70% and that leaves you with the maximum price you should pay for the home.

2.  Remember the rules.  If you’re considering a short sale or REO because of a great deal, be sure to research the Fannie Mae and Freddie Mac guidelines that restrict resale of such properties within a set amount of time from the original sale.

3.  Remember the inspection.  Even though you intend to flip the home you buy, you should not forgo the home inspection.  You will want to know if there are hidden problems that are more of commitment than you are financially prepared for.

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-629-6693.

They key to successful staging is a clean & clutter free space that prospective buyers can imagine themselves living in.  If it is done well, nobody will be able to tell you’ve done anything at all!

Bathroom:  Remove personal items such as toothbrushes, make-up, hair products, etc. from counter space.  Be sure the entire room is clean, and invest in a new shower curtain and some hand towels.  (Do NOT stack towels, tie them with a ribbon, fold the toilet paper into a pocket and put flowers in it, or in any other way make your home bathroom look like a maid from a luxury hotel cleaned it.)

Kitchen/Dining Room:  Be sure the table and chairs and clean and clutter free place a simple centerpiece on the table – a vase of fresh flowers is always a nice touch!  Be sure that kitchen counters are clear and clutter free (put any large appliances away in cabinets or closets) – a simple bowl or basket of fruit gives a clean, open look – go for multiple colors! (Do NOT set the table with a full place setting!)

Bedroom:  Invest in nice bedding and be sure there are night tables on each side of the bed.  For the master bedroom include a dresser and chest of drawers.  If the room seems crowded, use a double bed and put your larger bed in storage for the time being.  (Do NOT drape a throw, stack multiple books on the end table, or place any kind of tray on the bed or otherwise stage in a way that in no way reflects the way you live!)

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty and put us to work for you – 302-644-2266.

Freshen your kitchen with one of these relatively quick and easy updates:

1.  Open it up.  Add some open shelving, which can be as simple as removing the doors from a few cabinets and show off your colorful, collective, or otherwise interesting or beautiful dishes.

2.  Go glamorous.  Add a beautiful or interesting chandelier over an island or kitchen table too add some architectural interest to the room.

3.  Add some red.  The color red is known to enhance the sense of smell, sensitize the taste buds, and stimulate appetite.  If your kitchen is neutral, add a splash of this appealing color to the room’s palate.

4.  Organize.  Fit your silverware drawer with dividers, add a pot rack, and fit disorganized cabinets with wire shelving to clear the clutter and keep things neat.

5.  Add an artful touch.  Tile a backsplash for a simple, relatively inexpensive custom touch.  To keep costs down choose a simple tile and throw in just a few accents.

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-644-2266.

Consider these professional storage tips to declutter your home:

1.  Sliding drawers.  Add shelves on rollers to any deep, difficult to access storage space, such as a linen closet.

2.  Divide and declutter.  Set up busy drawers like nightstand drawers and junk drawers with compartments to keep things organized.

3.  Mobile office.  To help tame clutter keep your office mobile.  A cart with wheels allows you to move about and work wherever you want, but it also limits the amount of clutter you can stow, keeping you organized and clutter-free.

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-629-6693.

Whether you believe it or not, the front door of your home is a powerful tool to help you sell.  Your front door provides the first impression for everyone who comes to your home and helps them form an opinion of your home before they ever even come inside.  To help give your home the grand entrance that architecturally appealing homes have, first you need to be sure that your entrance is apparent from the street.  This doesn’t mean it has to be magnificent, just that any old person passing by needs to be able to identify it.  Some ways to do this are add a pediment, trim it out, or place it under a roofed porch.  An unsheltered front door should never be flush with the house – that will give it the look of a side door.  At the very least the front door should be recessed or projected from the house a noticeable bit.  For the most welcoming atmosphere, provide a separate path for walking to your front door and keep electric meters and other utilities, garbage cans, or other unfortunate outdoor storage areas out of the path and vision of your entrance area.  Remember, a great front entrance means a better first impression, which can mean an easier sale!

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-644-2266.

Whether you’re a die-hard do-it-yourselfer or you just tackle a project occasionally, here are five tools you definitely need in your arsenal:

1.  Multi-bit Screwdriver.  A screwdriver with interchangeable bits will tackle pretty much any job you will encounter and is a definite necessity in every homeowner’s tool kit.

2.  Cordless Drill.  Second only to the interchangeable screw driver in usefulness, the cordless drill is a versatile and necessary part of any tool kit.

3.  Tape Measure.  A tape measure is the first tool you use in many projects, but you don’t just need any tape measure.  A quality tape measure is worth its price in the time it saves with improved accuracy.

4.  Quality Level.  A weighted level/straight edge is a definite must for all kind of projects from hanging photos to heavy repairs, and a magnetic level can be even more useful.

5.  All Purpose Saw.  There are many options for a small, power saw, so you just need to find a versatile one that you are comfortable with and learn to use it.

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-644-2266.

One of the easiest ways to add interest to your décor is to utilize your walls.  Whether they are solid or windowed, white or colorful, painted or wallpapered, walls are basically the blank canvas of your home.  If you’re looking to update your home’s look, one thing you can consider is installing crown molding, or if your home already has crown molding, install picture molding just below ceiling height to extend the look.  In your dining room, installing a chair rail is a nice touch.  If you’re looking to add some color you can stencil a favorite quote or look into the awesome wall decals that are available from many reputable dealers – many have a professional look and finish, but you can apply them yourself!  Another colorful option is to paint a thick stripe of color around the room, about two-thirds of the way up the wall.  Outlined with thin strips of white paint of chair rails above and below the stripe, this gives a real pop of color that can be a great accent to an otherwise drab room.  If you like the idea of a pop of color or texture, but aren’t willing to make the commitment to your walls, consider lining the backs of bookshelves, the entertainment center, or other open storage with wall paper that suits your taste and accents your room.  Another great way to add interest without a long-term commitment is to mat and frame artwork or black and white photo prints and group them in arrangements at eye level.  If you want your home to reflect your tastes, start with the walls – they are the easiest and fastest place to add personality, and can be (relatively) easily changed when you’re ready for something new!

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-629-6693.

If your home has been sitting on the market for longer than you’d like, or if you’d like to put your home on the market and have it sell quickly, consider that you might need to get creative!  One way to help your home sell quickly is to help it make an incredible first impression.  Some of the best ways to do this are to update things like carpeting, appliances, and wall coverings (strip wall paper, cover unique paint colors in a soothing neutral) just to name a few of the things that make a huge impression on buyers.

A good impression starts before the buyers even get in your front door.  If you want your home to sell quickly, you should start with curb appeal.  Try power washing the exterior and driveway, mulching flower beds, adding a fresh coat of paint to your door and freshening up your house number so that it’s easily visible.

You might also consider staging your home or having it professionally staged.  This includes de-cluttering, rearranging furniture, and more.  The point of staging is to attract as many potential buyers as possible by appealing to wide variety of people.  A professional stager can help your home sell more quickly by creating an inviting atmosphere that potential buyers can picture themselves in, as opposed to the personal space that they may be seeing by viewing your home as you live in it.

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-629-6693.

If you are thinking of remodeling your kitchen or any other part of your home here are three questions you should ask yourself before you start anything:

1.  What is the purpose of this remodel?  Do you want a fresh look, completely new function, or a serious overhaul?

2.  What is most important?  Create a list of your priorities in the order of their importance to you before you begin and you will have a much easier time making budget choices in the long run.

3.  What investment can I afford?  Regardless of your personal budget, consider the value of the other homes nearby and the current value of your own home.  Over spending may give you the results you want immediately, but it might not be the best long term investment, so be sure to consider your options.

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-856-6434.

Yesterday I talked about kitchen makeovers, but the thing about totally redoing a kitchen is that it can be very pricy.  If you’re wanting to give your kitchen a face lift in a more budget-friendly way, consider some of the following suggestions.

Stick to the Ws.  Window and walls that is.  There are basically endless options for wall coverings that can be easily cleaned.  A fresh coat of paint can do wonders for a room!  Changing up the window treatments can also give the room a whole different feel.

Keep what you have.  Installing new cabinets can be expensive, but your whole kitchen can feel like new if you refinish your existing cabinets.  Just make sure you do your research and use high-quality prep products.

Repurpose other pieces.  Consider using an armoire as a pantry or a unique table as an island.  Repurposing individual pieces of furniture can save you money and add interest to an otherwise neutral room.

Appliances only.  If you have some money to work with, but not enough for a full makeover, consider replacing only your appliances.  Especially if they are showing signs of wear and tear.  And remember that appliances can be expensive if you get all the fancy gadgets, but basic appliances that will fit your requirements can be just as nice if you are on a budget.

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-629-6693.

In honor of Valentine’s Day here are three ways to add some romance to your décor:

1.  Metallic Accents.  A metallic accessory or two can be unexpected and glamorous and lend a feeling of romance to a room.  Something like a chest of drawers, side table, or chair in a warm, metallic shade are perfect!

2.  Monochromatic Colors with a Pop.  A monochromatic color scheme can be give a room a crisp, romantic feeling as long as the shade is lovely and warm.  But to keep it from becoming too boring, pop a bright color in the mix like bright pink or a warm violet in just one or two places.

3.  Black and White.  Black walls can be very sensual.  Paint a wall black and hang white accents such as wall art in white mats for a very stunning look!

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-856-6434.

When you find a home that seems perfect for you, be sure to look carefully for potential problems before you put in an offer.  Here are a few red flags to look for:

1.  Lack of Maintenance.  If you can tell that a home hasn’t been well maintained just by looking at it, think hard about whether or not you are up for the challenge.  Chances are that in a situation like this there will be more to fix than just the cosmetic.

2.  Foundation Issues.  Comb the foundation for damage.  Look for noticeable cracks, bulges, and grading issues in the yard which could mean that water has run down the foundation.

3.  Old Wiring.  If there are outlets or switches in the home that do not function, or if the outlets are double pronged instead of triple, if any lights flicker or circuits don’t work that is all a sign that there may be wiring issues.

4.  Funky Smells.  If you smell bad smells inside or out it could be a sign that there are bigger issues.  Additionally, if you smell strong overlying scents like potpourri, candles, etc. then just keep in mind that it may be masking other not-so-nice smells.

5.  Limited Fresh Paint.  New paint is the number one way for sellers to spruce up their homes before selling, but if you only see new paint in certain areas, look for deeper issues which may be hiding under the paint, such as mildew or mold.

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-644-2266.

If you’re house hunting the last thing you want to do is waste your time looking at a bunch of properties that are wrong for you.  To make the most of your time and effort, start by working with a realtor.  Find someone you trust, but also someone you like since you may be spending a lot of time with them!  Once you have a realtor and they have your wish list you can start touring homes.  If at all possible drive with your realtor when you go on tours.  This gives you time between homes to discuss and debrief so that your realtor can help you narrow your search, and insures that nobody will get lost or separated.  When you go on a buyer’s tour make sure you have plenty of time free.  If you have to rush back to work or on to your next plans you won’t be able to spend time truly exploring homes that you actually like.  And while we’re talking about exploring, if you don’t like a place a cursory once-over is plenty of time to spend, but if you really like a place open every cabinet, drawer, and door in the place.  After you’ve looked at a home, be sure to discuss all the details with your realtor.  Voicing any concerns and criticisms that you have can help your realtor narrow down your home search so that you can use your time and effort much more efficiently.  And finally, if you want to make your life easier wear shoes that you can slip on and off.  Often homes with new carpet also have signs that ask you to remove your shoes, and being able to slip your shoes on and off will make the whole process much faster!  Happy house hunting.

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-629-6693.

According to several surveys updating a tired bathroom is the single best project to undertake before selling your home.  But all updates are not considered equal… some updates have a better return on investment than others.  If you can’t afford an entire room make-over you definitely want to replace the sink and faucet.  This sets the tone for the rest of the room, and although it can be costly, it also returns the entire investment plus some upon sale.  After the sink and faucet, changing out the counters and vanity for something function but stylish and replacing the flooring both offer a good return on investment.  If you still have some room in the budget, replacing your current toilet with a water saving model and replacing a worn tub/shower with something is also a good idea, but if you can’t do it all these are the two areas you will want to skip for sure.  It is often said that buyers make offers based on the kitchen and bathrooms, so if you have the budget for a project, making your bathroom a buyer’s dream before you sell is well worth it!

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-629-6693.

For better window treatments, try these tips:

1.  Hang high.  Hang your curtain rods at the ceiling and add floor length drapes, even if your windows aren’t floor length.  This draws the eye up and gives the impression of enlarging the room.

2.  Go full.  Using full height window treatments on small windows give the illusion of a larger window.

3.  Utilize Architecture.  Use curtain rods and other window treatment hardware with some architectural interest to add some drama to the room.

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-856-6434.