John's Sanibel Island Real Estate Blog

The Annual 4th of July Party at the John Gee Office

When you have a home on Sanibel Island and want to sell it there are several home improvement projects that you can do to improve the changes of a quick sale. These don’t have to be expensive projects but making you home appear to be a well maintained piece of property will go a long way in making a favorable impression with potential buyers.

Painting tips – A fresh coat of paint on the interior walls can do wonders for first impressions. Scrapes, finger marks and dirty walls are vanished instantly with paint. It’s important to make wise decisions when it comes to color selection. You may be tempted to go with a stylish darker color but if the room is small to start with it may give the illusion of being cramped. Instead, go with a lighter color to enhance the appearance of a larger, brighter room. A living room can be made to appear to have taller ceilings by putting a bold color along with a white ceiling and the foyer can be enhanced with different shades of the same color.

Windows – Windows do more than just let light in when closed and fresh air when open. If you have outdated, old style windows they are energy inefficient. Many decorators will focus on the window blinds, drapes and shades but a serious buyer will look at the quality of the windows themselves. Storm resistant windows not only offer energy savings but can help to reduce insurance costs as well. It can be money well spent.

Floors – Well maintained floors give a positive feeling to buyers. Make sure your carpet is clean if it’s in good condition. If it’s not in good condition have it replaced. Select a neutral patter and color that may be more appealing to most people. It’s not so much the idea of picking something that someone will like as much as making a selection that is offensive to a prospective buyer. If your bare floors are in good condition you may want to consider removing area and throw rugs. This gives the room a larger and more open atmosphere.

Landscaping – Curb appeal is important when you’re selling Sanibel Island real estate. Make sure the lawn is freshly cut and bushes are trimmed. Overgrown trees should but cut back and bare spots filled in to give a more manicured appearance. If you have flower beds make sure they are weeded and filled with bright blooming plants.

These are just a few simple tips to help make your home look its best. When selling Sanibel Island real estate you have to make your home stand out above the crowd.

With everything that is happening in the real estate market over the past few years you may have heard the term loan modification? What exactly does that mean and can you put it to work for you?

A modification is simply an agreement between you and the lender, usually the bank, that will alter the terms of the original mortgage agreement. This can work to the advantage of both you and the lender. If market conditions have changed drastically since the time you originally took out your loan this may be viable alternative to avoid foreclosure or simply being stuck with the original terms of your loan.

You don’t have to be delinquent with your loan to suggest a loan modification. If interest rates have dropped significantly and you simply want to lower the rate to the current rates give your lender a call to see what their policy is regarding loan modifications. If you are not looking to take additional equity out of the property you should point out to the lender that they may lose a valuable customer to another, more cooperative lender if they will not modify the interest rate for you. This is really a very easy step for most lenders to do, they just push a few buttons and the computer will adjust your payment for the remainder of the loan term. Because you are not taking out additional equity the closing costs associated with a new loan can be drastically reduced. You will not have to pay for a new appraisal, survey, etc.

If you are delinquent with your loan, a loan modification may be able to save your home by lowering the payment. Remember, the last thing a lender wants to do is to foreclose on a property. They are not in the business of owning real estate. They just want to earn interest on loads secured by real estate. When a bank takes possession of a home they know they are faced with a multitude of problems. They have to secure the property, make arrangements for maintenance and lawn care, make necessary repairs to prepare for a sale, list the property and then most likely sell at a loss. If a loan modification will save them from this they are more likely to consider it as an option. It’s a win/win situation for all concerned.

So, whether you are current with mortgage or just looking to save money by lowering your payment and avoiding the expenses of a total refinance look into the option of a loan modification.