I found a jewel at Lake Tahoe.  It has beautiful lake views and I’ll get to the amenities and luxuries in a moment but what makes this the spot is the privacy. It is an 11+ acre estate that is surrounded on three sides by over 1100 acres of Forest Service land.   A celeb looking for a private and secluded place to get away from all of the hullabaloo of the entertainment or sports or corporate world and needs to get there without spending 12 hours on a plane, this place is it.    The head of a Fortune 500 company would like this property too.  This place allows you to get away from it all but if you must, you still have access to the world outside.

They say location, location, location is key and this place not only has location, but it has privacy, privacy and privacy!

    

The estate is in Incline Village, Nevada, you know on the North Shore of Lake Tahoe.  The address is 456 Ponderosa.  To get to the residence, you first land your plane at Truckee Airport or Reno Airport.  Have your driver head towards Incline Village.  Then before you know it, you are in Incline and your driver has turned into the gated entry (that has a camera that is monitored from the residence) and onto an illuminated private drive.  As you ascend the drive the forest starts to surround you.  Now you begin to soak it all in.  The lake, the views, the forest and finally, the grand estate.

I mentioned I would get to the luxuries and amenities so here it goes. Over 13,000 square feet of luxurious living space is filled with 4 bedroom suites including 2 master suites, separate guest suite with a sitting area, fireplace and deck, a home theater with bar, a spa room, office area, wine room and a game room.  But that is not all, the kitchen rivals that found in most sophisticated restaurants, there are lake view decks, a 4 car garage to hold all the toys, security system and home management system.  And, best of all it is at a low elevation.

 The scale and openness of the stunning interior exudes luxury and coziness as it is softened by the warm earth tones found in the artisan finishes masterfully applied from room to room.

In the end, this estate is a must for anyone who desires extreme privacy while surrounded by complete and utter luxury.     $9,200,000. 

To schedule a private tour of this estate please contact Schwartz-Stanton Group, Dan Schwartz or Tawny Stanton, 800.520.7358  or  775.832.4626

 Click here to view a webcast  and click here to take a virtual tour.

Featured Property of the Month on the Schwartz-Stanton Group Blog is 671 Fairview Boulevard located in Incline Village on the North Shore of Lake Tahoe, Nevada.

Spectacular panoramic views of Lake Tahoe dramatize the captivationg mountain backdrop of this Incline Village home.  Located on a 1.2 acre street-to-street lot, privacy surrounds you.  Designed with elegant indoor and outdoor spaces, this 5,720+ square foot home has it all including 5 bedrooms, 4.5 baths, a gourmet kitchen with stunning lake views, 3 car garage, and a private master suite on a separate level with a gas appliance fireplace with granite tile surround and a fabulous master bath with steam shower, Jacuzzi tub and large master closet.

Adding to the home is the expansive lake view deck (approximately 1,000 sq. ft.) with wet bar that opens from the dining and kitchen area.  The panoramic views of the lake from the deck are breathtaking.  This home is must see.  List Price:  $3,950,000.

To learn more about 671 Fairview or other Lake Tahoe properties please give Schwartz-Stanton Group, Coldwell Banker Incline Village Realty,  a call at 800.520.7358.

Yes, there are some good deals out there and many are thinking buying a foreclosure property is the way to go.  Whether you are savvy, experienced real estate investor or not, there are some things to keep in mind if you are going the foreclosure route and buying property.

See the property.  Just like any other major purchase, you don’t want to buy the property site unseen.

Research the neighborhood.  Here is where doing your homework is important.  Gathering as much information and data will help.  Is the area depressed?  Will you be able to recoup remodeling dollars?   These are just a sample of questions you should ask yourself.

How long has the property been empty?  The longer the property is vacant, there is the risk of a lot of maintenance items including plumbing, pests, etc.

What is the condition of the exterior and landscaping. As a foreclosure property, there is a pretty good chance the property hasn’t been maintained.   Take a look at the siding, roof, windows as well as the yards.  Trees, bushes, vines left untrimmed can cause problems.

Get an inspection.  If you’re paying cash still get an inspection if you can.  If you are getting a mortgage the lender usually requires a current inspection.

Have a realistic budget.  While the price of the property may be a “great deal”, think about repairs and/or remodel expenses.  If you are planning to rent out the property, can you carry the overhead if the property doesn’t rent quickly.  These are just a few of the budgetary items to consider.

Good luck on your real estate adventure.

If a home is being sold for below what the current seller owes on the property—and the seller does not have other funds to make up the difference at closing—the sale is considered a short sale. Many more home owners are finding themselves in this situation due to a number of factors, including job losses, aggressive borrowing against their home in the days of easy credit, and declining home values in a slower real estate market.

A short sale is different from a foreclosure, which is when the seller’s lender has taken title of the home and is selling it directly. Homeowners often try to accomplish a short sale in order to avoid foreclosure. But a short sale holds many potential pitfalls for buyers. Know the risks before you pursue a short-sale purchase.

 You’re a good candidate for a short-sale purchase if:

• You’re very patient. Even after you come to agreement with the seller to buy a short-sale property, the seller’s lender (or lenders, if there is more than one mortgage) has to approve the sale before you can close. When there is only one mortgage, short-sale experts say lender approval typically takes about two months. If there is more than one mortgage with different lenders, it can take four months or longer for the lenders to approve the sale.
• Your financing is in order. Lenders like cash offers. But even if you can’t pay all cash for a short-sale property, it’s important to show you are well qualified and your financing is set. If you’re preapproved, have a large down payment, and can close at any time, your offer will be viewed more favorably than that of a buyer whose financing is less secure.
• You don’t have any contingencies. If you have a home to sell before you can close on the purchase of the short-sale property—or you need to be in your new home by a certain time—a short sale may not be for you. Lenders like no-contingency offers and flexible closing terms.

If you’re serious about purchasing a short-sale property, it’s important for you to have expert assistance. Here are some people you want to work with:

• Experienced real estate attorney. Only about two out of five short sales are approved by lenders. But a good real estate attorney who’s knowledgeable about the short-sale process will increase your chances getting an approved contract. Also, if you want any provisions or very specialized language written into the purchase contract, a real estate attorney is essential throughout the negotiation.
• A qualified real estate professional.* You may have a close friend or relative in real estate, but if that person doesn’t know anything about short sales, working with him or her may hurt your chances of a successful closing. Interview a few practitioners and ask them how many buyers they’ve represented in a short sale and, of those, how many have successfully closed. A qualified real estate professional will be able to show you short-sale homes, help negotiate the purchase when you find the property you want to buy, and smooth communications with the lender. (All MLSs permit, and some now require, special notations to indicate that a listing is a short sale. There also are certain phrases you can watch for, such as “lender approval required.”)
• Title officer. It’s a good idea to have a title officer do an initial title search on a short-sale property to see all the liens attached to the property. If there are multiple lien holders (e.g., second or third mortgage or lines of credit, real estate tax lien, mechanic’s lien, homeowners association lien, etc.), it’s much tougher to get that short sale contract to the closing table. Any of the lien holders could put a kink in the process even after you’ve waited for months for lender approval. If you don’t know a title officer, your real estate attorney or real estate professional should be able to recommend a few.

Some of the other risks faced by buyers of short-sale properties include:

• Potential for rejection. Lenders want to minimize their losses as much as possible. If you make an offer tremendously lower than the fair market value of the home, chances are that your offer will be rejected and you’ll have wasted months. Or the lender could make a counteroffer, which will lengthen the process.
• Bad terms. Even when a lender approves a short sale, it could require that the sellers sign a promissory note to repay the deficient amount of the loan, which may not be acceptable to some financially desperate sellers. In that case, the sellers may refuse to go through with the short sale. Lenders also can change any of the terms of the contract that you’ve already negotiated, which may not be agreeable to you.
• No repairs or repair credits. You will most likely be asked to take the property “as is.” Lenders are already taking a loss on the property and may not agree to requests for repair credits.

 The risks of a short sale are considerable. But if you have the time, patience, and iron will to see it through, a short sale can be a win-win for you and the sellers.

Courtesy of National Association of Realtors.  Note: This article provides general information only. Information is not provided as advice for a specific matter. Laws vary from state to state. For advice on a specific matter, consult your attorney or CPA.

Homeowners worried about missing mortgage payments and entering foreclosure may have another option: a loan modification.  Despite some signs of stability in the housing market, foreclosures remain a major obstacle to a meaningful recovery. And more borrowers in good standing are likely to miss their mortgage payments as the recession claims more jobs. That’s why some people have gone for a loan modification — a permanent change in a mortgage that results in more affordable payments for the borrower.

Efforts to modify home loans have been easily outpaced by the number of new delinquencies, according to a Treasury Department report released in late June. In the first quarter, loan companies modified 185,156 mortgages, up 55 percent from the previous quarter, while the number of foreclosures in process increased to 844,389, up 22 percent.

Still, modification has been an option for many troubled homeowners. Lenders have been overwhelmed by calls from people seeking to modify their home loan, leading to reports of frustration and delays, according to mortgage finance giant Freddie Mac, which recently released an Internet video discussing this topic.

In the face of these delays, it’s important to start the loan modification process fully prepared. That means having the correct paperwork handy before calling or meeting with a loan servicer or housing counselor.

Here are some questions and answers about what you should have on hand.

Q: What are some basic documents to gather ahead of a loan modification meeting?

A: First, the servicer will want to quickly find the file in question, so have the monthly mortgage statement in hand.

Next, find the most recent statement for any homeowners’ or condominium association fees. Some borrowers have seen association fees increase in light of more home vacancies brought on by foreclosures, stressing monthly budgets — so you’ll want evidence of what you’ve been paying each month.

Also, borrowers who took out home equity lines of credit, and second or third mortgages, should have paperwork for those loans handy.

All of these documents go a long way in displaying a troubled borrower’s financial situation and determining their eligibility for a loan modification. Borrowers should also enter the process with a budget plan that includes how much they can actually afford to pay in monthly housing expenses, including insurance and taxes.

Q: How about tax documents?

A: In addition to recent job payroll stubs, borrowers should have their W-2 and their 2008 tax return handy. Property taxes can’t be ignored when considering monthly and yearly housing costs, so borrowers should have their property tax bill as well.

If a borrower is self-employed, he or she should have a profit-and-loss statement to reference.

All this allows the loan servicer to more quickly determine a household’s pretax income and a reasonable new monthly mortgage payment, according to Freddie Mac.

Q: Are there any documents not specifically related to the home that should be nearby during the meeting with the loan servicer?

A: Sure. Bring along statements showing balances and minimum monthly payments on active credit cards, car loans, student loans and other debts or obligations, Freddie Mac says.

These documents give the servicer a sense of the borrower’s monthly expenses outside of home-related expenditure s, to come up with a manageable monthly mortgage payment that will be sustainable.

Q: Is that all?

A: Actually, no. Freddie Mac recommends that homeowners write a statement that discusses the financial problems that are or could be leading to foreclosure.

This should be an honest account — the writer should set pride aside and give the servicer a sense of how bad the situation really is.

Loan modification can be a complicated process, involving complex contracts and agreements. Borrowers might want to have a lawyer guide them through the process to work through any technicalities and make sure the lender is taking the correct steps.

Q: What are some dangers to watch for in the loan modification process?

A: A significant problem is mortgage-reduction scams, in which consultants market their services directly to the consumer and ask for an upfront fee, often with a promise to rescue the borrower from foreclosure by negotiating with the lender on the borrower’s behalf. These fees can be in the hundreds or thousands of dollars.

Sometimes, however, the work is never done, and the fee is not returned.

The federal government has outlined some fraud warning signs: For starters, borrowers should be wary of aggressive marketing tactics, requests for upfront fees and guarantees of foreclosure rescue. Consumers also should not sign any documents without reading them carefully.

Other things to watch out for, according to the Treasury Department: offers to buy the house and then rent it back to the homeowner, instructions to the homeowner not to contact the lender and false claims of government affiliation.

Courtesy of Coldwell Banker Real Estate LLC

Strong gains in existing-home sales were the predominant pattern in most states during the fourth quarter, with many more metro areas seeing prices rise from a year earlier, according to the latest survey by the National Association of Realtors ® .  Sales increased from the third quarter in 48 states and the District of Columbia; 32 states saw double-digit gains. Year-over-year sales were higher in 49 states and D.C.; all but three states had double-digit annual increases.

Total state existing-home sales, including single-family and condo, jumped 13.9 percent to a seasonally adjusted annual rate ¹ of 6.03 million in the fourth quarter from 5.29 million in the third quarter, and are 27.2 percent above the 4.74 million-unit level in the fourth quarter of 2008. Distressed property accounted for 32 percent of fourth quarter transactions, down from 37 percent a year earlier.

Lawrence Yun , NAR chief economist, said the first-time home buyer tax credit was the dominant factor. “The surge in home sales was driven by buyers responding strongly to the tax credit combined with record low mortgage interest rates,” he said. “With inventory levels trending down over the past 18 months, we expect broadly balanced housing market conditions in much of the country by late spring with more areas showing higher prices.”

According to Freddie Mac, the national average commitment rate on a 30-year conventional fixed-rate mortgage fell to a record low 4.92 percent in the fourth quarter from 5.16 percent in the third quarter; it was 5.86 percent in the fourth quarter of 2008.

In the fourth quarter, 67 out of 151 metropolitan statistical areas ² reported higher median existing single-family home prices in comparison with the fourth quarter of 2008, including 16 with double-digit increases; one was unchanged and 84 metros had price declines. In the third quarter only 30 MSAs showed annual price increases and 123 areas were down.

The national median existing single-family price was $172,900, which is 4.1 percent below the fourth quarter of 2008; the median is where half sold for more and half sold for less. “This is the smallest price decline in over two years, with the most recent monthly data showing a broad stabilization in home prices,” Yun said.

“Because buyers are taking on long-term fixed rate mortgages, avoiding adjustable-rate products, and trying to stay well within their budgets, the price recovery process appears durable,” Yun said.

NAR President Vicki Cox Golder , owner of Vicki L. Cox & Associates in Tucson, Ariz., said near-term market conditions will remain favorable. “Mortgage interest rates are expected to trend up later this year, but right now we have very good conditions with steadying home prices and favorable inventory in most areas, especially in the higher price ranges,” she said.

“The biggest issue is for repeat buyers, who will have to accelerate their buying plans if they want the expanded tax credit. Since you must have a contract in place by the end of April, the best advice is to consult a Realtor ® now about qualification criteria and options in your area,” Golder said.

Repeat buyers do not have to sell their existing home, but all buyers must occupy the property they purchase as a primary residence to qualify for the tax credit. Buyers who have a contract in place by April 30, 2010, have until June 30, 2010, to finalize the transaction to get a credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.

In the condo sector, metro area condominium and cooperative prices – covering changes in 54 metro areas – showed the national median existing-condo price was $177,300 in the fourth quarter, down 4.8 percent from the fourth quarter of 2008. Eleven metros showed increases in the median condo price from a year earlier and 43 areas had declines; in the third quarter only four metros experienced annual price gains.

Regionally, existing-home sales in the Northeast rose 11.1 percent in the fourth quarter to a pace of 1.03 million and are 33.6 percent higher than a year ago. The median existing single-family home price in the Northeast declined 5.6 percent to $234,900 in the fourth quarter from the same quarter in 2008, but with widely varying conditions.

“In the Northeast, markets with lower median prices that have avoided wide swings, such as Buffalo, are generally showing consistent price gains,” Yun said. “Even so, some of the higher cost areas are showing signs of stabilization, such as Nassau-Suffolk, N.Y., and Boston.”

In the Midwest, existing-home sales jumped 14.5 percent in the fourth quarter to a pace of 1.38 million and are 29.9 percent above a year ago. The median existing single-family home price in the Midwest rose 1.1 percent to $141,100 in the fourth quarter from the same period in 2008, with the region accounting for the majority of metro areas experiencing double-digit gains.

Yun said markets with high unemployment rates in Ohio and Michigan experienced large price swings. “Big price gains in many Midwestern areas are due to a more normal range of home sales in contrast with predominately foreclosed sales a year ago,” he said.

In the South, existing-home sales rose 13.8 percent in the fourth quarter to an annual rate of 2.23 million and are 28.2 percent higher than the fourth quarter of 2008. The median existing single-family home price in the South was $153,000 in the fourth quarter, down 2.4 percent from a year earlier. 

“Affordable markets in the South that have relatively better local economies are seeing healthy price gains, such as Houston, Oklahoma City and Shreveport, La.,” Yun said.

Existing-home sales in the West jumped 16.2 percent in the fourth quarter to an annual rate of 1.38 million and are 18.2 percent above a year ago. The median existing single-family home price in the West was $227,200 in the fourth quarter, which is 8.9 percent below the fourth quarter of 2008, but with many areas showing notable gains.

“Markets in the West such as San Francisco, San Jose and Denver are showing double-digit price increases, and other markets like San Diego and Anaheim have begun to firm up,” Yun said.

The National Association of Realtors ® , “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

# # #

NOTE: Data tables for both metro area home prices and state existing-home sales are posted at www.realtor.org/research/research/metroprice.  For areas not covered in the tables, please contact the local association of Realtors ® .

There often are differences between NAR’s data and locally reported data because of differences in methodology, which may include the geographic coverage area, housing types, and Census benchmarking used in NAR’s model. More importantly, there is a parallel between the percentage changes over time that is typically seen even when using different methodologies.

1 The seasonally adjusted annual rate for a particular quarter represents what the total number of actual sales for a year would be if the relative sales pace for that quarter was maintained for four consecutive quarters. Total home sales include single family, townhomes, condominiums and co-operative housing. NAR began tracking the state sales series in 1981.
Seasonally adjusted rates are used in reporting quarterly data to factor out seasonal variations in resale activity. For example, sales volume normally is higher in the summer and relatively light in winter, primarily because of differences in the weather and household buying patterns.

2 Areas are generally metropolitan statistical areas as defined by the U.S. Office of Management and Budget. A list of counties included in MSA definitions is available at:
www.census.gov/population/estimates/metro-city/0312msa.txt Regional median home prices include rural areas and samples of many smaller metros that are not included in this report; the regional percentage changes do not necessarily parallel changes in the larger metro areas. The only valid comparisons for median prices are with the same period a year earlier due to seasonality in buying patterns. Quarter-to-quarter comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns.
NAR began tracking of metropolitan area median single-family home prices in 1979; the metro area condo price series dates back to 1989.

Because there is a concentration of condos in high-cost metro areas, the national median condo price generally is higher than the median single-family price. In a given market area, condos typically cost less than single-family homes. As the reporting sample expands in the future, additional areas will be included in the condo price report.

Courtesy of National Association of Realtors

Pending home sales have leveled from a market swing driven by response to the home buyer tax credit, according to the National Association of Realtors®.   The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in December, increased 1.0 percent to 96.6 from 95.6 in November, and remains 10.9 percent above December 2008 when it was 87.1. In November, the monthly index had fallen by 16.4 percent from surging activity in preceding months.

Lawrence Yun, NAR chief economist, said it’s important to recognize how the tax credit is skewing market data. “There are easily understood swings in contract activity as buyers respond to a tax credit that was expiring and was then extended and expanded,” he said. “These swings are masking the underlying trend, which is a broad improvement over year-ago levels. December activity was the fifth highest monthly tally in two years.”

Buyers who have a contract in place to purchase a primary residence by April 30, 2010, have until June 30, 2010, to finalize the transaction to qualify for a tax credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.

The PHSI in the Northeast rose 2.3 percent to 76.1 in December and is 14.9 percent higher than December 2008. In the Midwest the index increased 5.2 percent to 86.9 and is 8.7 percent above a year ago. Pending home sales in the South rose 2.2 percent to an index of 98.4, and are 5.5 percent higher than December 2008. In the West the index fell 3.8 percent to 119.9 but is 18.6 percent above a year ago.

Yun projects the extended and expanded tax credit will encourage 2.4 million households to take the credit in 2010. “While new-home sales will remain low due to a lack of construction, existing-home sales are projected to rise to around 5.6 million in 2010,” Yun said. Last year there were 5.16 million existing-home sales.

He added that one of the greatest benefits of rising sales will be firming home prices. “For several months now we’ve been seeing stabilization in all of the home price measures as inventory is pulled down,” Yun said. “As a result, the housing wealth for many middle class families has begun to stabilize.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

# # #

*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity from 2001 through 2004 parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

Existing-home sales for January will be reported February 26 and the next Pending Home Sales Index will be on March 4; release times are 10 a.m. EST.

Courtesy of National Association of Realtors
Washington, February 2, 2010

Getting your home ready for sale can take anywhere from one to six months, depending on the condition, age of the house and how long you’ve lived there. So go over the property to determine what needs to be repaired or possibly replaced. Make a list of both major and minor jobs. Tackle big projects first.

Although it’s tempting to wait until the home inspection and offer to adjust the price in lieu of repairs, but doing so may put the entire sale in jeopardy and may ultimately cost more.  Most importantly, a major repair left undone creates the impression that the house has not been maintained.So here is a timeline to help you prepare your home for sale:

-Six to three months before listing

Besides looking at major systems, inspectors test outlets, run appliances, and turn on faucets. Take this time to fix any obvious problems. You will have to make the repair eventually, so it’s in your interest to do it done ahead of time.

For dated kitchens and baths consider a minor facelift such as refacing or painting cabinets, replacing dated appliances and/or installing new countertops. Modernize lighting by replacing old fluorescent ceiling fixtures with recessed lights and/or pendants.

Historically a minor kitchen renovation recoups a sizable portion, sometimes even all, of the dollars spent and makes a home more competitive. Still, it is important not to over improve compared to similar homes in the neighborhood and price range.

If cracked faux or cultured marble sinks and countertops in bathrooms can’t be repaired, replace them. Even inexpensive laminate is an improvement. Often this change, coupled with new accessories and paint, will neutralize dated tile.

Whatever the season, be sure to take photos to show potential buyers landscaping or views at their best. And as early as possible, fertilize to give shrubs and the lawn a jump start. The payoff comes when the yard is greener than any nearby.

-Three months to listing

Begin to clean and declutter the home.  Anything that may make a buyer feel uncomfortable such as grime in corners or grubby grout has to be eliminated.

Clean out closets, cabinets and drawers so they appear spacious and well organized. If you appear cramped, buyers assume they will be too. Box the overflow and store off site if necessary.

Don’t forget the garage. Make sure the door mechanism operates smoothly.

Continue replacing inexpensive items that date a home. Exchange brass hardware for brushed nickel or oil rubbed bronze. While making this change, depending on the style of the house, consider replacing traditional knobs with levered handles which are more current.

Nothing renews a house faster than paint. Some experts recommend painting the ceilings if it’s been more than 10 years since the last paint job since it immediately brightens a room.

Tame colors that overwhelm or are passe. If you can’t part with them, leave the old color on one wall for an accent. The same holds true for wallpaper. You don’t have to remove every shred, but enough to ensure a feeling of continuity throughout the house.  Traditional advice was to paint everything white; the new neutrals, warm beiges and taupes, cozy up rooms without closing them in. To really make a room pop, use white on the trim or as an accent.

Begin your own market research as soon as possible. Pay attention to what’s newly listed and selling in your neighborhood. Go to open houses; nothing will give you a better fix on what buyers will expect from your home.

Research real estate agents to list your home. Ask friends for recommendations. Traditional advice is to interview three agents. Look for one with experience and a proven track record. Expect to see a detailed, written marketing plan that begins before the home actually goes on the market and ends when it closes. It takes several months for marketing efforts to be effective so give one agent at least that long to list the house.

Resist the temptation to select the agent who suggests the highest price unless they can back it up with homes sold or under agreement in the last month or so. Discuss strategies for price reductions. Rather than one big drop some believe small incremental reductions are more effective.

Commissions are negotiable but theymay affect  how much an agent spends on marketing and how much they offer agents who represent buyers. Ask about the percentage they would offer other agents.

Good agents will suggest ways to improve the presentation of the property. -One month to marketing

Fine tune everything. With major cleaning and decluttering completed, go back to see what you’ve overlooked. Make everything shine. Wash windows and even consider removing screens where it is practical to do so. Even the smallest detail like dusting the water heater lends to the impression that the house is well maintained.

Have the carpets cleaned, especially if you have pets, just before you begin showing the house. If you have a cat, be vigilant about maintaining the litter box.

To keep kitchen counters clear, plan for areas to store small appliances. Also stash mail and magazines.

On the day of the broker open house be sure to set the scene by turning on lights, creating vignettes in several areas such as the kitchen where you want buyers to linger. Recreate this as much as possible whenever the house is shown.

All of this advance work makes it much easier to maintain the home while it’s being shown.

Courtesy of Coldwell Banker Real Estate, LLC

Schwartz-Stanton Group, Coldwell Banker Incline Village Realty, is pleased to introduce you to The Ridges at Hunter Creek.  This development is an intimate enclave of wilderness home sites that have been set aside within a gated community nestled in the Sierra Foothills in Reno, Nevada.   This unprecedented collection of 90 home sites commands panoramic views from the Sierra Mountains to the west, the Toyaibe National Forest to the south, Peavine Mountain to the north, and the lights of downtown Reno to the east.

Unspoiled nature is at your doorstep in a setting that feels secluded but is only minutes from downtown Reno.  Careful architectural controls will ensure the enduring beauty and quality of the community with a European feel.  This community has been developed with a particular attention to access the magnificent surround forests and mountains through a system of hiking trails developed in cooperation with the U.S. Forest Service and the Washoe County Park and Recreation Department.  For your estate, you would hike all the way through Lake Tahoe Natural Forest unfettered by man-made barriers.

Estate lots range from one to eight acres.  Contact Schwartz-Stanton Group at 800.520.7358 for more information.

Contract activity for pending home sales fell after a surge of activity in preceding months to beat the original deadline for the first-time home buyer tax credit but remains comfortably above a year ago, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in November, fell 16.0 percent to 96.0 from an upwardly revised 114.3 in October, but is 15.5 percent higher than November 2008 when it was 83.1.

Lawrence Yun, NAR chief economist, said a drop was expected. “It will be at least early spring before we see notable gains in sales activity as home buyers respond to the recently extended and expanded tax credit,” he said. “The fact that pending home sales are comfortably above year-ago levels shows the market has gained sufficient momentum on its own. We expect another surge in the spring as more home buyers take advantage of affordable housing conditions before the tax credit expires.”

Buyers who have a contract in place to purchase a primary residence by April 30, 2010, have until June 30, 2010, to finalize the transaction to qualify for the tax credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.

The PHSI in the Northeast dropped 25.7 percent to 74.4 in November but is 14.7 percent above a year ago. In the Midwest the index fell 25.7 percent to 82.0 but is 9.2 percent higher than November 2008. Pending home sales in the South fell 15.0 percent to an index of 97.8, but are 14.7 percent higher than a year ago. In the West the index declined 2.7 percent to 124.6 but is 21.4 percent above November 2008.

Yun projects an additional 900,000 first-time buyers will qualify for the extended tax credit in addition to about 2 million who have already purchased; 1.5 million repeat buyers also are expected to benefit from the credit.

“Many trade-up buyers, who have historically timed their purchase based on school-year considerations, will have to accelerate their buying plans if they need the tax credit to make a trade,” Yun said. Repeat buyers do not have to sell their existing home to qualify for the credit, but they must occupy the home they buy as their primary residence.

Yun added that mortgage interest rates cannot remain at rock-bottom levels for a sustained period and will likely inch higher in 2010. But the tax credit impact in the first half of the year and expected job growth impact in the second half will support home buying activity and absorb enough inventory to bring a rough balance between buyers and sellers. Home prices are expected to stabilize or even modestly rise as a result in 2010.

*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity from 2001 through 2004 parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

Existing-home sales for December will be reported January 25 and the next Pending Home Sales Index will be on February 2; release times are 10 a.m. EST.

Courtesy of National Associationof Realtors