Renaissance Realty Group’s Blog: Eric Reid (Renaissance Realty Group )

 As I read the below I had to agree, but at the same time had to ask myself what can I do to change the current "mindset" of the  Buyers, Sellers, and other REALTORS here in my little area of Georgia. My first thought was to publish the information.. Get the truth out there.

..... feedback from Realtors® across the country about some unique factors that are not yet being captured in hard, quantifiable statistical data. The common themes are: Published in National Association of REALTORS® online report July 3rd 2008

(1) Short sales are excruciatingly frustrating because lenders take forever to reply
(2) REO (bank-owned) properties are getting multiple bids and selling above list price
(3) Homes sell without a problem if priced correctly
(4) Many eager buyers cannot buy because they cannot sell their existing home
(5) Buyers of fixer-uppers are not buying because of the high cost of construction
(6) Builders are selling for less than the cost of construction and hurting the existing home market
(7) Low appraisals are leading to fallouts
(8) High gas prices are impacting neighborhoods far out from the city
(9) The media is painting inaccurate picture not related to my local market conditions and scaring away the buyers
(10) Buyers are waiting for the prices to drop further before committing

Yes Short Sales are taking "forever" - however you do get a great deal if you can wait ...some people are watching those clearance rack for summer clothing for next year.. why would you not do the same for a GREAT value on a home?

Yes REO are selling quickly - why? - because banks are aggressively pricing property to sell in 30 days to increase cash flow..so don't low ball an offer you may loss the deal.

Homes are selling -- if priced right.. that was true 10 years ago 3 years ago and today.. review the market and price within the market not within some price high expect low meet in the middle game.. you will lose buyers - QUICKLY--

Buyer can only buy when they become buyers -- that means they no longer are sellers -- there is enough great inventor out there so keep the client focused on just one thing at a time -- sell then buy.

Fixer ups are not deals or we can't fund "the fix" - looking in to FHA 203K loans here in Atlanta GA you can get 30K towards Fix Ups as part of the primary loan.

Builders are cutting cost... true and some builders will buy your home to get the sale... however be careful... some builders are a short walk from pulling out and not finishing homes and subdivison... Don't be the first one in, you maybe all alone.

Low Appraisals... Hmmm is the Appraisal low or the home price out side of the market value?

Gas prices - will come and go - sell the value of the area now and in the future - heck they maybe a light rail system in the planning.

Media -- ratings pay the bills -- and good news does not great rating make -- share the local facts with your clients.

Buyers are waiting for the "bottom" - you don't know it's the bottom until your half way up the other side. If it is priced right and fits your need why wait? As prices move up you buying power declines.

We (REALTORS) must stop following the negative mindset junkies and start setting the mindset and take back our business. based on truth .. (Where is Helen Reddy when you need her?)

 

How to protect yourself from "foreclosure rescue" scams:

Source: Legal Assistance Foundation of Metropolitan Chicago, staff research

• Contact your lender as soon as you know you'll be late on a payment. Lenders are increasingly willing to renegotiate loan terms.

• If you need further help, speak to a counselor certified by the Department of Housing and Urban Development: Find a Housing Counselor.

• Be very skeptical of posters on telephone poles, median strips and at bus stops offering foreclosure help.

• Be wary of a company that tells you to transfer your property deed or title to the company.

FIND MORE STORIES IN: Department of Housing | Contact

• Don't make payments to any party other than your lender.

• Don't sign a "quit claim deed" (a document that claims you have no legal interest in the property) without being instructed by your attorney or representative to do so. Reject any deal that would have you rent your own home and then buy it back later.

• Reject offers from people who vow to make good on your missed payments and take the house off your hands in exchange for documents that assign them the surplus from a foreclosure sale.

• If you can't afford to keep your home and you decide to sell it, do so through a licensed real estate agent who will help you sell the home for a fair market price.

• Don't sign anything with blank lines or spaces.

• Be wary of an individual or company that calls itself a "mortgage consultant," "foreclosure service" or something similar.

• Avoid an individual or company that collects a fee before providing services.

• If your English is limited, use your own translator; don't depend on the "rescue" firm's translator or anyone else's.

• Use your own independent attorney, rather than one selected by the "rescue" firm.

Source: Legal Assistance Foundation of Metropolitan Chicago, staff research

 

Renaissance Realty Group DOES NOT CHARGE AND UPFRONT FEE AND AS PROFESSIONAL REALTORS WE ARE GOVERNED BY THE STATE OF GEORGIA --- Call us if you have questions we are here to be of service.

Eric Reid, Managing Broker Renaissance Realty Group Inc. Short Sale Certified REO Certified Graduate Harris Real Estate University Office: 404-921-2067 x 102 Fax: 770-513-4443 Search All Georgia Homes for Sale at www.GeorgiaOnlineHomes.com

This is one of many documents that lenders require during the short sale porcess.

To start the process you will need to gather some information that reflects the "why" of how the hardship occured

This list are a few of the "why's"

• Adjustable Rate Mortgage Reset- Payment Scock (uncommon, but we will see more lenders accept this in the future) 
• Illness
• Loss of Job
• Reduced Income
• Failed Business
• Job Relocation
• Death of Spouse or C0-Borrower
• Death
• Incarceration
• Divorce
• Marital Separation
• Military Duty
• Reduced Income
• Medical Bills
• Damage to Property (natural disaster or unnatural)
• Other (Please Specify)

Now that you understand what your lender or servicer is looking for, it's time to sit down and write a hardship letter. I made it easy for you by giving you a couple templates below that you can use as a boiler plate for your own letter. Make sure you make it unique to your situation.

Remember that your hardship letter is only one piece of the loan workout process, but key in helping you avoid foreclosure. You will still need to jump a few hurdles with your lender before they will approve you any kind of work out plan or short sale

Example Harship Letter:

Name: (Your Name)

Address: (Your Address)

Lender Name: (Your Lender)

Loan #: (your Loan #)

To Whom It May Concern:

I am writing this letter to explain my unfortunate set of circumstances that have caused us to become delinquent on our mortgage. We have done everything in our power to make ends meet but unfortunately we have fallen short and would like you to consider working with us to modify our loan (excepting this short sale proposal). Our number one goal is to keep our home and we would really appreciate the opportunity to do that. or (Our number one goal is to avoid foreclosure )

The main reason that caused us to be late is (insert reason here and don't be too lengthy and long winded) Soon after being late and our income not being nearly enough, we had fallen further and further behind. Now, it's to the point where we cannot afford to pay what is owed to (lender). It is our full intention to pay what we owe. But at this time we have exhausted all of our income and resources so we are turning to you for help.

(The approximate date of hardship and we believe that our situation is Temporary or will be Permanent.)

Our situation has got better because (reason here) and we feel that a loan modification would benefit us both. We would appreciate if you can work with us to lower or delinquent amount owed and or payment so we can keep our home and also afford to make amends with your firm.

We truly hope that you will consider working with us and we are anxious to get this settled so we all can move on.

Sincerely and Respectfully,

Borrower's Signature

Date

Co-Borrower's Signature

Foreclosure Homes  / Short Sale Homes Report 

Gwinnett, Fulton, North Fulton, DeKalb, County Georgia.

Cities of

Decatur, Tucker, Stone Mountain, Lithonia, Duluth, Buford, Lawrenceville, Dacula, Grayson, Snellville, Loganville, Suwanee, Norcross, Winder,

This list is updated daily with Homes added to MLS in the last 24 hours 

Due to the nature of  Foreclosure Homes and Short Sale Home,

Buyers should act quickly !

 For all Your Real Estate Needs Call !

Eric Reid, Managing Broker Renaissance Realty Group Inc.
Office: 404-921-2067 x 102 Fax: 770-513-4443

FOR A PEACH OF A DEAL ON A SHORT SALE CLICK ABOVE UPDATED JULY 17th

FOR A FORECLOSURE A DEAL CLICK ABOVE UPDATED JULY 17th

Each state in the U.S. handles it's real estate foreclosures differently, it's important to understand those differences and know your specific state's procedures.  The terms used and timeframes vary greatly from state to state, but the following information provides a general overview of the different processes and considerations. 

Judicial Foreclosures

Judicial foreclosures are processed through the courts, beginning with the lender filing a complaint and recording a notice of Lis Pendens.  The complaint will state what the debt is, and why the default should allow the lender to foreclose and take the property given as security.  The homeowner will be served notice of the complaint, either by mailing, direct service, or publication of the notice, and will have the opportunity to be heard before the court.  If the court finds the debt valid, and in default, it will issue  a judgment for the total amount owed, including the costs of the foreclosure process.  After the judgment has been entered, a writ will be issued by the court authorizing a sheriff's sale.  The sheriff's sale is an auction, open to anyone, and is held in a public place, which can range from in front of the courthouse steps, to in front of the property being auctioned.   Sheriff's sales will require either cash to be paid at the time of sale, or a substantial deposit, with the balance paid from later that same day up to 30 days after the sale.  Check your local procedures carefully.  At the end of the auction, the highest bidder will be the owner of the property, subject to the court's confirmation of the sale.  After the court has confirmed the sale, a sheriff's deed will be prepared and delivered to the highest bidder, when that deed is recorded, the highest bidder is the owner of the property.

Non-Judicial Foreclosures

Non-judicial foreclosures are processed without court intervention, with the requirements for the foreclosure established by state statutes.  When a loan default occurs, the homeowner will be mailed a default letter, and in many states, a Notice of Default will be recorded at approximately the same time.   If the homeowner does not cure the default, a Notice of Sale will be mailed to the homeowner, posted in public places, recorded at the county recorder's office, and published in area legal publications.  After the legally required time period has expired, a public auction will be held, with the highest bidder becoming the owner of the property, subject to their receipt and recordation of the deed.  Auctions of non-judicial foreclosures will generally require cash, or cash equivalent either at the sale, or very shortly thereafter.
It is important to note that each non-judicial foreclosure state has different procedures.   Some do not require a Notice of Default, but start with a Notice of Sale.   Others require only the publication of the Notice of Sale to announce the sale, with no direct owner notification required.  You need to know the specific procedure for your state.

The first thing you will need to do is understand the foreclosure timeline.

Day 1 - Borrower misses first payment by a day. No penalties assessed at this time

Day 16-30 - A late charge is assessed to the borrower's payment.
The lender or mortgage servicer will attempt to make contact with the borrower for an explanation.

Day 45-60 -The servicer sends "demand" or "breach" letter to the borrower stating the mortgage terms that have been. The borrower is given only 30 days to resolve the delinquent amount.

Day 90-105 -The servicer refers the loan to its loss mitigation department / foreclosure department and retains an attorney or other firm to handle the foreclosure proceedings. Depending on the state where the home is located, the servicer's representative may record a notice of default at the local courthouse and it will be published in the local newspaper

Day 150-415 - A notice of trustee Sale is filed and the home is scheduled to be sold at foreclosure sale or auction. This time range varies due to individual state laws and requirements.

States with judicial foreclosures / where foreclosures are done via the court system, can sometimes extend this period to a year or more.

Georgia is a NON - Judicial state and no court action is required for the sale to occur.

A foreclosure is a legal event and there are benchmarks that must be met. Once the case is turned over to attorneys, the impending foreclosure must be advertised, usually in both the local papers and in the largest and closest metropolitan daily. The entire process can take a very long time from initial default to the actual public auction of the property. If a member of the military is an owner of the property, there are additional safeguards required by federal and in some cases state laws From the beginning of the process, however, the meter is running. The longer the foreclosure takes, the greater the debt that accrues and the larger the liability the homeowner has, something that will become critical down the road.

Day 150-415 - Some states offer what is called a redemption period after the foreclosure sale in order to give the borrower time to purchase the property if they have the ability. However, most will be forced out of their home by the local sheriff's department.

 Georgia is a NON - Redemption state and no court action is required for the sale to occur.

10 Great Tips for Showing Your Home 

•1.            KEEP YOUR HOME SPARKLING CLEAN.  This is the single most important thing you can do to improve a potential buyer's impression of your home.  A clean home not only is esthetically pleasing, but also creates the impression that you have taken pride in your home and therefore have kept it properly maintained.  Make sure that all tubs, toilets, and counter tops are clean.  Empty the dishwasher and sink.  Keep the floors clean.  Put laundry up or in the washer or dryer.

•2.            ELIMINATE ODORS.  Do not smoke in your house, including your garage or basement.  Keep all trashcans and waste baskets clean.  Avoid cooking foods such as fish, liver or strongly seasoned foods within a few hours of showing your home.  Open windows whenever possible to freshen the air.  Do not over perfume, as strong smells can be just as offensive to a buyer as bad odors.  If you use candles, potpourri or other air fresheners use clean fresh scents such as vanilla for the kitchen and citrus for bathrooms.   

•3.            LIGHT THE HOUSE AS MUCH AS POSSIBLE.  Open all curtains and blinds (depending on the view), and turn all lights on throughout the house.  Dim mood lighting is acceptable in a single room, but as a general rule the brighter a room is the better.

•4.            KEEP PETS CONFINED DURING HOME SHOWING.  Not everyone is going to love your pet as much as you do, and many people perceive a house pet as an indicator of damaged carpet.  If possible, take your pet for a walk during showings or keep your pet outside and confined.  Never leave your a pet in a closed room and ask that the buyer not go inside.

•5.            STORE OR ORGANIZE ITEMS, REMOVE CLUTTER.  Have toys, tools, magazines, newspapers, etc. organized and out of the way.  As a general rule, if it isn't absolutely necessary then put it away.

•6.            HAVE ONLY FRESH, CLEAN TOWELS IN THE BATHROOMS.   If you use decorative towels, make certain to provide clean "everyday" hand towels as well.  Do not leave wet towels in the bathrooms, wet towels not only are an eyesore but also create a damp, musty smell.

•7.            REMOVE PHOTOGRAPHS AND OTHER PERSONAL ITEMS.   A potential buyer needs to have a depersonalized impression of your home so that they can envision it as their own.  Also, when someone is looking at your home, you don't want them to be distracted by looking at family photos, a doll collection, or other collectables.

•8.            LEAVE THE HOUSE DURING SHOWINGS.   The homeowner and family members should never be present during a showing, even if invited to stay.  Your presence will discourage the buyer from freely examining your home and its features and also make them feel as if they are intruding. 

•9.            FRESH FLOWERS brighten up any room, but avoid using heavily aromatic flowers.

•10.        KEEP BEDROOMS NEAT AND CLEAN.  Make all beds, organize closets, and make certain all clothing is put away. 

 

606 Birch River Ln NW LAWRENCEVILLE GA Townhome

	Condominium						$ 149,900
	#:3735061	Active	Broker: RRUS01		Area: 63		Map: 697E5
	606 Birch River Ln NW		FMLS Neighborhoods		Media: 13		#1 - Virtual Tour	#2 - Wells Fargo REO Atta...
	City: LAWRENCEVILLE		State: GEORGIA		County: GWINNETT		Zip: 30044-2851
	Complex: BIRCH RIVER PARKE		Yr Built: 2005		Age Desc: Resale
	Lvls Bdrms Baths Hlf Bth Upper 3 2 0 Main 0 0 1 Lower 0 0 1 Total 3 2 2			Lake Name: NONE			Waterfront:
				Unit #: 3			Elem: MCKENDREE
				Style: Twnhse/Multi-Lvl			Middle: CREEKLAND
							High: COLLINS HILL
	Directions: 85N TO HWY 316, EXIT AT RIVERSIDE PKWY, GO LEFT, CROSS OVER HWY 120, PROCEED APPROX 2.5 MILES, COMMUNITY IS ON THE RIGHT.

Public Remarks

3 LVL TOWNHOME, SPACIOUS W/OVERSIZED RMS & MEDIA RM OR 4TH BDRM.CORNER F/P IN L/R.MSTR W/Pvt Bath Suite & TREY CEILINGS.PLENTY OF CABINETS IN KIT, SECURITY SYSTEM. LAWRENCEVILLE COMMUNITY. THE VERY BEST REO TOWNHOME IN LAWRENCEVILLE ... READY TO MOVE IN TODAY.

Private/Confidential Remarks

GREAT REO / Buyer must be pre-qualifed with Pamela Clements w/ Wells Fargo Office: (770) 497-6005 prior to offer submission. VACANT. GO & SHOW . LB Code 0924

Features

Bedroom: Oversized Master		Master Bath: Garden Tub, Sep Tub/Shower, Other
Kitchen: Breakfast Area, Cabinets Stain, Counter Top - Laminated, Island, Pantry, View To Fmly Rm				Dining: Separate Dng Rm
Const: Brick 4 Sides	Unit Faces: NE	Unit Desc: Interior Unit	Unit Levels: 2	Type: Built as Townhouse
Parking: 2 Car Garage, Assigned, Auto Garage Door	Road:	Arch: Traditional	Setting: Other	# FP: 1
Rooms: Family Room, Library/Office, Other
Basement: Bath, Daylight, Exterior Entry, Finished, Interior Entry				Ownership: Fee Simple
Fees: Ext Maintenance, Water/Sewer, Other				Lot Dimensions: .02

Other Descriptive Information

<!-- <td align="left" width="15%">--> <!--</td> -->

Appl - Dishwasher Appl - Elec Ovn/Rng/Ctop Appl - Garbage Disposal Appl - Refrig Included Appl - Self-Clean Oven Appl - Smoke/Fire Alarm Int - 9 ft + Ceil Main Int - 9 ft+ Ceil Upper Int - 2-Story Foyer Int - Cable Modem Int - Disp Attic Stairs	Int - DSL Available Int - Entrance Foyer Int - Hardwood Floors Int - Priv Front Entry Int - Trey Ceilings Int - Walk-In Closet(s) Int - Wall/Wall Carpet Ext - Deck Ext - Porch/Balcony Ext - Private Backyard Ext - Prof Landscaping	Ext - Yard Hcap - None Fplc - Factory Built Fplc - Gas Logs Remain Fplc - Gas Starter Amen - Homeowners Assoc Amen - Public Trans. Amen - Undergrnd Utils Heat - Central System Heat - Forced Air Heat - Gas	Cool - Ceiling Fans Cool - Central Electric Cool - Zoned Enrgy - High Eff System Enrgy - Thermal Pane Wdws Laundry - Laundry Room

Legal, Financial & Tax Information

Tax ID: 7-005-060	LandLot: 47	District: 7	Section: 0	Lot: 3	Block: A
Plat Book/Page: 111/93	Tax/Tax Yr: $2198/2007		Monthly Assoc Fee: $130/ Required
Mgmt Co: BIRCH RIVER PARKE	Mgmt Phone:		Swim/Tennis: None
Special: Foreclosure	CPHB:		Owner Finance: N		Assumable: No

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Office Information

<!-- <td colspan="2"><b>Subagency Offered: </b></td> --> <!-- <td colspan="2"><b>Possession: </b>Posse, ssion, not , found<b> </b></td> -->

	Owner Name: REO		Owner Phone: 770-277-6652		Show Inst: Anytime Access, Lockbox, Vacant
	Agent License#: 281838		Selling Commission: 3		VRC: No
	List Agent ID: REIDERIC		Agent: ERIC REID		Phone/Fax: 770-277-6652 / 770-513-4443
	Co-List Agent ID:		Co-Agent:		Phone/Fax:  /
	Firm License#: H-59567		Phone/Fax: # 770-277-6652 /  770-513-4443

	Residential					$399,900  *
	#:3740702	Active	Broker: RRUS01	Area: 14		Map: 648J6
	5740 Grove Point Rd		FMLS Neighborhoods		Media: 10		#1 - Seller's Disclosure
	City: ALPHARETTA		State: GEORGIA		County: FULTON	Zip: 30022-6079
	Subdivision: Medlock Bridge			Yr Built: 1988		Age Desc: Resale
	Lvls Bdrms Baths Hlf Bth Upper 3 2 0 Main 1 1 0 Lower 0 0 0 Total 4 3 0			Lake: NONE		Waterfront:
				Stories: 2 Stories		Elem: MEDLOCK BRIDGE
				Style: Traditional		Middle: AUTREY MILL
						High: NORTHVIEW
	Directions: NORTH ON 141(MEDLOCK BRIDGE) CROSS OVER STATE BRIDGE RD. LEFT IB GROVE POINT (MEDLOCK BRIDGE SUBDIV) ACROSS FROM ST.IVES CC

Public Remarks

BRICK TRADTIONAL HOME WELL MAINTAINED HARWOODS ON BOTH THE MAIN LEVEL AND 2ND FLOOR BEAUTIFUL KITCHEN WITH TONS OF UPGRADES / GRANITE COUNTER TOPS / TUMBLED MARBLE / STAINLESS STEEL APP. NEWLY PAINTED IN SIDE AND OUT NEW ROOF FENCED PRIVATE BACKYARD -- NORTHVIEW SCHOOLS..GREAT VALUE.

Private/Confidential Remarks

Owner Occupied. Pls call broker for showing instructions. Pre Foreclosure / Short Sale. Please call broker for offer instructions.

Features

Bedroom: Bdrm On Main Lev		Master Bath: Double Vanity, Garden Tub, Sep Tub/Shower, Whirlpool Tub
Kitchen: Breakfast Area, Cabinets Other, Counter Top - Stone, Island, Pantry		Dining: Seats 12+, Separate Dng Rm	Setting: Other
Const: Brick 3 Sides	House Faces: South	Tennis on Prop: No	Pool: None
Parking: 2 Car Garage, Attached, Auto Garage Door, Side/Rear Entry		Road: Paved, Public Maintain	# FP: 1
Rooms: Exercise Room, Family Room, Recreation Room, Separate Lvng Rm
Basement: Finished, Interior Entry, Partial			Home Warranty: No
Lot Size: 1/3 to 1/2 Acre	Lot Desc: Level, Level Driveway, Private Backyard		Lot Dimensions: 0

Other Descriptive Information

<!-- <td align="left" width="15%">--> <!--</td> -->

Nbrhd - Club House Nbrhd - Homeowners Assoc Nbrhd - Park Nbrhd - Playground Nbrhd - Street Lights Nbrhd - Swimming Pool Nbrhd - Tennis Lighted Nbrhd - Undergrnd Utils Appl - Dishwasher Appl - Double Ovens Appl - Elec Ovn/Rng/Ctop Appl - Garbage Disposal	Appl - Gas Water Heater Appl - Microwave Appl - Sec System Owned Appl - Self-Clean Oven Appl - Smoke/Fire Alarm Int - 9 ft + Ceil Main Int - 2-Story Foyer Int - Cable Modem Int - Disp Attic Stairs Int - Double Vnty Other Int - DSL Available Int - Entrance Foyer	Int - Hardwood Floors Int - Trey Ceilings Int - Walk-In Closet(s) Ext - Deck Ext - Fenced Yard Ext - Garden Area Hcap - None Fplc - Gas Logs Remain Fplc - Gas Starter Heat - Gas Heat - Zoned Cool - Central Electric	Cool - Zoned Enrgy - Attic Vent Fans Water - Public Water Sewer - Pub Swr Connectd Laundry - Laundry Room Dock - None Boathse - None

Legal, Financial & Tax Information

<!-- <tr> <td><b>Mgmt Co: </b>MgmtCo not found</td> <td><b>Mgmt Phone: </b>MgmtPhone not found</td> </tr> -->

Tax ID: 11-0821-0301-018	LandLot: 301	District: 1	Section: 1	Lot: 17	Block: H
Plat Book/Page: 148/104	Tax/Tax Yr: $4177/2007		Swim/Tennis: $0/Required		Annl Assoc Fee: $1050/ Includes Swim/Tennis
Special: Foreclosure	CPHB:		Owner Finance: N		Assumable: No

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Office Information

<!-- <td colspan="2"><b>Subagency Offered: </b></td> --> <!-- <td colspan="2"><b>Possession: </b>Posse, ssion, not , found<b> </b></td> -->

	Owner Name: Call Agent		Owner Phone: 770-277-6652		Show Inst: Call Listing Office/Agent Before Showing, Lockbox
	Agent License#: 281838		Selling Commission: 3		VRC: No
	List Agent ID: REIDERIC		Agent: ERIC REID		Phone/Fax: 770-277-6652 / 770-513-4443
	Co-List Agent ID:		Co-Agent:		Phone/Fax:  /
	Firm License#: H-59567		Phone/Fax: # 770-277-6652 /  770-513-4443

     It's easy to fix up your properties if you have unlimited cash. However, you need to keep your repairs to a minimum to stay profitable. You also need to keep your properties in good shape to attract tenants or buyers. There are the basic improvements, such as carpet and paint, but these can still costs thousands of dollars. The following are some inexpensive ways to improve your properties with very little cash.

  #1) New Electrical Switch Plates

  This is such a minor, yet overlooked improvement. Most rental owners and rehabbers paint a unit and leave the old, ugly switch plates. Even worse, some even paint over them.

  New switch plates cost about 75 cents each. You can replace the entire house with new switch plates for about $20 -$30. For the foyer, living room and other obvious areas, spring for nice brass plates. They run about $5 each - not much for added class.

  #2) New or Improved Doors

  Another overlooked, yet cheap replacement item is doors. If you have ugly brown doors, replace them with nice white doors (you can paint them, but unless you have a spray gun it will take you three coats by hand).

  The basic hollow-core door is about $ 50. It comes pre-primed and pre-hung. For about $10 - $15  more, you can buy stylish six-panel doors. If you are doing a rehab, the extra $10 -$15 per door is well worth-it. For rentals, consider at least changing the downstairs doors.

  #3) New Door Handles

  In addition to changing doors, consider changing the handles. An old door handle (especially with crusted paint on it) looks drab. For about $10, you can replace them with new brass finished handles. Replace the guest bathroom and bedroom door handles with the fancy "S" handles (about $20 each).

  #4) Paint/Replace Trim

  If the entire interior of the house does not need a paint job, consider painting the trim. New, modern custom homes typically come with beige or off-white walls and bright-white trim. Use a semi-gloss bright white on all the trim in your houses.

  If the floor trim is worn, cracked or just plain ugly, replace it! Home Depot carries a new foam trim that is pre-painted in several finishes and costs less than 50 cents per linear foot. Create a great first impression by adding crown molding in the entry way and living room.

  #5) New Front Doors

  You only get one chance to make a first impression. A cheap front door makes a house look cheap. An old front door makes a house look old. If you have nice heavy door, paint it a bold color using a high-gloss paint. If your front door is old, consider replacing it with a new, stylish door. For about $175, you can buy a very nice door.

  #6) Tile Foyer Entry

  After the front door, your next first impression is the foyer area. Most rental property foyers are graced with linoleum floors. Consider a nice 12" Mexican tile. An 8' x 8' area should cost about $100 - $150 in materials.

  #7) New Shower Curtains

  It amazes me that many landlords and sellers show properties with either no shower curtain or any ugly old shower curtain in the bathroom. Don't be cheap - drop $40 and buy a nice new rod and fancy curtain.

  #8) Paint Kitchen Cabinets

  Replacing kitchen cabinets is expensive, but painting them is cheap. If you have old 1970's style wooden cabinets in a lovely dark brown shade, paint them. Use a semi-gloss white and finish them with colorful plastic knobs. No need to paint the inside of them (unless you own a spray gun), since you are only trying to make an impression.

  Americans spend 99% of their time in the kitchen (when they are not watching TV). A fancy modern faucet looks great in the kitchen. They can run as much as $150, but not to worry - most retailers (Home Depot, Home Base, etc) often run clearance sales on overstocked and discontinued models. I have found nice Delta and Price Pfister faucets for about $60 on sale.

  #9) Add Window Shutters

  If you have ugly aluminum framed windows, consider adding wooden shutters outside. They come pre-primed at most hardware retailers and are easy to install. Paint them an offset color from the outside of the house - (e.g., if the house is dark, paint the shutters white. If the house is light, paint them green, blue, etc.).

  #10) Add a Nice Mailbox

  Everyone on the block has the same black mailbox. Stand out. Be bold. For about $50 you can buy a nice colorful mailbox. For about $60 more, you can buy a nice wooden post for it. People notice these things....and they like them