CT Property Network

Simple Tips Every Should Know

Putting into action a few simple home staging tips will help your house stand out from the pack in today's .

Set the Stage
Home staging may not seem hugely important, but in today's improving real estate market, the tiniest detail could mean the difference between " " and " ."

Make a good first impression
You may have spent hours making sure the kitchen is clean, and doing so is worth the effort. But remember, the facade is the first part of your house a potential buyer will see. A little landscaping can go a long way. Strapped for time? Potted plants placed around the front door will add welcome charm to your entryway.

Get rid of the pics
You want to enable potential buyers to easily imagine themselves living in your place—so don't compromise the fantasy with pictures from your aunt's 90th birthday party. Instead, help other people connect with the house by disconnecting yourself from it. If you have frames hanging on the wall that you aren't ready to take down yet, consider swapping in scenic landscape prints or photos of landmarks.

Update the Furniture
Think about switching around the furniture in some rooms. Your preferred setup may not be the most appealing one to would-be buyers. Where logical, opt for a social layout that makes it easy to envision the space being enjoyed among family and friends.

Go Neutral
If you're willing to pick up a paintbrush, tone down any bold color choices in favor of neutral colors schemes that will make the rooms in your house more palatable for all potential buyers, no matter their personal style preferences.

Spruce Up the Kitchen
The kitchen can make or break a buyer's overall opinion of your home. You don’t have to invest in a full on renovation, but a few simple (and affordable) changes can improve the space, like swapping the hardware or covering old floors with a runner. You want the kitchen to feel bright and spacious, so get rid of gadgets on the countertops and magnets on the fridge. Make sure the counters, floors, grout lines, and appliances are sparkling clean, and try to avoid cooking meals that have strong smells when you have showings. The only thing left out should be a nice bowl of fruit or fresh-cut flowers.

Tidy the Bathroom
The bathroom is another room you want to pay attention to when readying your house. Buyers don’t typically spend too long exploring this spot like other areas in the house—they’ll either immediately notice the good or the bad. Cleanliness is the most important factors. Get rid of the mildew, mold, and soap scum, and don’t forget to clean the toilet! Replace shower curtains and bathmats that have seen better days. Lastly, arrange your toiletries in neat baskets or jars to keep the counters clear and organized.

Declutter
Stow everything not essential to your daily life: Remove appliances from counters, clear magazines from table tops, and take your boots out of the mudroom. A house on the market should appear ready for a new occupant.

Don't Hide It
As you're clearing away the clutter, keep in mind that buyers visiting your home may look in every corner of every room. So don't try hiding all your stuff in one closet! Your stash is sure to be discovered, and you don't want to leave potential buyers thinking closets are small or that the house lacks storage.

Fresh Air
Open a window. Doesn't your home feel more homey and inviting already? Opening windows at least ten minutes prior to showings will ensure that your space smells fresh and doesn't feel stuffy.

Scrub-a-dub-dub
It cannot be stressed enough how important cleaning is in home staging. Scrub grout lines in the shower, wipe your window blinds, and wash the concrete floor in your garage. Let no detail go unnoticed! Clean everything.

Remember the Backyard
Depending on the time of year, buyers might spend more or less time checking out the backyard space. During the cold months, house hunters won’t expect outdoor furniture all set up, but you should make sure to clear fallen leaves or snow from the patio or deck so they can still see the potential. If it is pleasant weather, make sure the space has been cleaned and arrange some chairs and tables to amp up the entertainment value. And of course, get rid of weeds and keep the lawn trimmed.

Final Touch
To make your house irresistible, remember to add a few thoughtful final touches. A bright tablecloth or a vase of fresh-cut flowers can really perk up a room, making your house as welcoming—and worthy of sale—as possible.

Appearances Matter!
Staging can make or break a house sale. You can get it right!

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101

If you fall behind on several payments, your may begin the foreclosure process, which can lead to months of and emotional stress, and even result in the loss of your home.

If you start falling behind on your payments, or stop making your mortgage payments completely, the bank or lender can foreclose on the and it as a way to make back the funds that were lost.

How does foreclosure work?

When you purchased your , you signed a mortgage contract that specified the amount of money you borrowed, as well as the and the details about your monthly payment.

However, simply living in your home does not mean that you legally own it. If you have a mortgage, the bank or lender technically owns the property until you make your final mortgage payment.

Types of foreclosure

After you have several missed mortgage payments, your lender can start the foreclosure process. There are two main ways your home can be foreclosed on:

A judicial foreclosure, meaning the lender needs to get a court order.

A nonjudicial foreclosure, depending on the state where the property is located.

There are several different types of foreclosures, depending on the state and the terms of your mortgage. Some foreclosures involve legal action and others do not. The types of foreclosures include:

Judicial foreclosure: With a judicial foreclosure, the lender files a lawsuit and the borrower is notified of the non-payment. The homeowner has 30 days to make up the missed payments, otherwise the foreclosure process will proceed.

Power of sale: A power of sale foreclosure is allowed in some states if your mortgage has a power of sale clause in the contract. Once the borrower falls behind on their payments, their mortgage provider is allowed to put the house up for auction. A power of sale foreclosure is considered a non-judicial foreclosure because there is no legal action taken.

Strict foreclosure: Strict foreclosures are less common because they are only allowed in a few states. In this case, the mortgage lender files a lawsuit against the homeowner, and if the borrower does not make up their payments within the court-ordered time period, the home can be seized by the mortgage holder.

How the foreclosure process varies by state

Each state has its own laws pertaining to the process of foreclosure and foreclosure sales. These can govern the borrower’s relief options if already in foreclosure, how to go about posting a Notice of Sale, the sale timeline and other parts of the process.

The foreclosure process in 5 steps

From the time of your first missed mortgage payment to the foreclosure sale of your home, there are several steps in the foreclosure process. These phases can vary by state, but generally follow this timeline.

Step 1: Missed mortgage payments

If your mortgage payment is a few days late, you are probably not at risk of foreclosure. Your lender may have a grace period of up to two weeks for you to make your payment without serious penalties. After the grace period, however, your payment is considered late and you’ll be charged late fees. You might also receive a warning from your lender about a potential foreclosure if you fail to make the payments.

Step 2: Notice of Default

After three to six months of missed mortgage payments, your lender will file a Notice of Default with the local recorder’s office. Your lender will also send one to you via certified mail, and depending on your state, might post the notice on your front door. This notice specifies how much you owe in order to bring your mortgage back into good standing.

A Notice of Default could show up on your credit report and affect your score. This can make it more challenging to obtain other types of credit or refinance your mortgage.

A Notice of Default doesn’t equate to the lender immediately or automatically foreclosing on your home, and it doesn’t mean you don’t have options to prevent the foreclosure from happening. You can put a stop to the preceedings by getting current on your payments.

Step 3: Preforeclosure

Preforeclosure is the time period between the Notice of Default and the auction or sale of your home. During this time, if you can get your hands on the amount specified in the Notice of Default, you’ll be able to stop the foreclosure process from going any further. The exact amount of time you have depends on your state. During preforeclosure, you might also have the option to sell your home and pay back the money owed, in what is called a short sale.

Step 4: Notice of Sale

If you don’t have the money to bring your mortgage into good standing within the allotted time frame, your lender will file a Notice of Sale, and your home will be placed up for auction at a specified time and location.

How the Notice of Sale is published depends on your state. For example, in North Carolina, the notice must be published in a local newspaper and posted on the door of the local courthouse, while in California, it must be posted on the property as well as a public place in the county.

Because the Notice of Sale is public information and has been advertised, several buyers, including investors, might be interested in buying your home. Depending on laws in your state, you might have the ability to exercise right of redemption (meaning you can reclaim your home) up until the foreclosure sale, or even after.

Step 5: Eviction

Following the auction and sale of your home, you’ll generally have a few days to gather your belongings and move to a new residence. If you do not voluntarily move out, law enforcement personnel are legally allowed to remove you and your belongings from the premises.



If you’re struggling to make your mortgage payments, your best bets to avoid foreclosure are time and communication. As soon as you realize you can’t pay your mortgage, reach out to your lender or servicer to learn about the options available to you. They might be able to set up a payment plan or allow you to defer the payment for one month if you have a temporary financial hardship.

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Why Short Sale ?

A homeowners has an option to "short sale" when their is worth less than what they owe to their bank(s). For example, if your house is worth $400,000 and you owe your (s) $550,000 in , home equity lines of credit, tax liens, etc. If you qualify for a short sale, you may be able to sell your property for less than what is owed, avoid and walk away from the property with no debt. A is a far better alternative to foreclosure, both for you and your bank. It is significantly less damaging to your , and you'll be able to buy a home much sooner after a short sale than with bankruptcy or foreclosure.

For more real estate related blogs visit www.ctpropertynetwork.com

Connecticut is expected to get a tsunami of short-sales this year. With all of the new Realtors that have entered the game during this boom, why not have your team prepared? Learn how they can list and get their full commission without having to negotiate the short sales.

We would love to offer you a FREE 15-20 minute short-sale presentation, including Q&A, at your team’s weekly or monthly meeting, virtual or live.

Your team will learn:

· How short sales work
· The lien process
· How to read the judicial site to see if someone's in pre-foreclosure
· The CT foreclosure process
· Timing - who is eligible for a short sale, etc.

CT Property Network has successfully saved more than 1000 families from foreclosure by short-saling their homes and gotten Realtors their full commissions.

As Distressed Property Specialists, and CT Licensed Debt Negotiators, we wrote and teach a Continuing Ed Class in Distressed Properties that includes; REOs, Pre-foreclosures, Online and in-person Auctions, as well as short sales.

Book your slot now at link below:
https://calendly.com/dvirvo/short-sale-class-zoom-meeting?month=2022-01