What is a tri-bureau merged report and why should I get one?
You should get a complete picture of your overall financial health before you go out to make a big purchase that requires you to apply for credit or a loan. Your score will impact the interest rate you are offered, so knowing your score will give you a sense of what you may qualify for. The best way to gain a clear picture of your financial health is through a tri-bureau credit report.
The tri-bureau credit report gives you a score from each of the three major credit reporting agencies on one report. Lenders sometimes take an average of your three scores, or may even use the lowest score, to make their lending decision.
A combined report gives you a complete credit profile — saving you time and money so that you don’t have to check each of the major reporting agencies separately. You can go to any of the major credit bureau websites for your combined report: TransUnion, Equifax or Experian.
You are eligible for one free credit report per year. Take advantage of this opportunity to monitor your credit report and ensure there are no mistakes or surprises with your credit.
* W.J. Bradley is not a credit counseling or financial advisement firm and this information is for educational purposes only and is not to be taken as guidelines or guarantees to improve your credit or financial situation or eligibility to secure a home loan.
Home Staging Color Challenge
After five years in the home staging business I can tell you that almost every house presents itself with a unique design challenge. It might be a difficult floor plan, an outdated appearance or a color challenge that leaves me particularly perplexed. My job, after all, is to accentuate the best of a home’s features and downplay its worst. With 92% of buyers previewing homes on the internet, having a beautifully staged home for a virtual tour is essential in a home marketing plan.
Now, in many cases of home staging I can paint beautiful colors on the walls, update kitchens and bath or replace old flooring, as seen in some of my other projects. However, in some cases, such as the one on 809 Pinon Ave Millbrae I am left to design around an existing color challenge.
Color challenges of a home might be a rustic brick fireplace surround in an otherwise contemporary space. The dark red brick color against creamy neutral walls with white crown moldings appear in sharp contrast to one another and draw the eye toward the stronger color. Or, a color challenge might be a strong accent wall color that cannot be painted over for a variety of reasons.
As you will see in the before and after pictures of the 809 Pinon Ave house one wall in the living room as well as the entry were painted a strong salmon color. At the opposite end of the room is a sunroom, which was painted a soft, green. My color challenge in this home staging was to incorporate both of these colors into one harmonious design. I want to downplay the stark contrast between the dark salmon and the white wall by placing either color on the contrasting wall. The secret to the success of the design was color balancing the space with a rug that incorporated all of the colors as well as the black of the fireplace surround. A lighter colored rug would have left the space “floating” and off kilter. This darker rug draws the eye away from the wall and into the seating area.
An additional color challenge was in the dining room with the terra cotta tile floor. The color balance was achieved with the art and floral arrangement complimenting all three colors.
Sometimes in my home staging I need to purchase a specific design element to successfully complete my project. In this home staging color challenge I purchased the art and rug, both of which had the salmon color as well as the green tones.
Color increases the memory of a property by 60%. People viewing this property will remember it by it’s living room color. Professionally home staging this property helped neutralize a strong accent color by blending the color around the room. It also created more appealing photographs for a virtual tour.
Please give me a call or send me a message if you have any questions about home staging and/or color challenges.
As manager of a real estate office, what traits have you seen successful Realtors portray that unsuccessful Realtors do not?
I’ve seen that a lot of very successful Realtors open themselves up to the new techniques of finding business. It’s important to understand were the upcoming buyers and sellers may be! However, most of them still get the majority of their business the old fashioned way.
Never underestimate the power of prospecting past clients and your sphere of influence. Be sure you always provide superior service and do everything you can to make your clients happy and you’ll never have to worry about a bad referral. Past clients, friends, and family will always be willing to recommend you to a friend!
Unsuccessful agents often embrace new technologies or other forms of busy work as a way to avoid the feeling of rejection that comes from personal prospecting. There’s a place in the industry for new techniques, especially in this age of technology, but be sure you use it as a tool to enhance the personal ways of reaching out rather than replacing it.
What makes Burlingame special? How is the market there now?
Burlingame is what I refer to as a destination market. This means it’s a place you want to live, not somewhere you settle for until you can afford where you want to live! It’s a place to stay. We see young couples doing everything to squeeze themselves into the cheapest home on the market just to be in the area!
We also see people moving up from the nice 3 bedroom to the grand home of their dreams, but still within Burlingame! Retired couples will bite the bullet on property taxes so that they can remain in the area they want to be in rather than somewhere cheaper- all to stay in Burlingame! So that begs the question, why Burlingame?
They come for the schools, the community and the family involvement in these schools. There’s shopping, weekend mornings at the local coffee shop, the history of the area too! And, on top of all this, there’s the convenience of it’s proximity to San Francisco and Silicon Valley.
But mostly, what makes Burlingame special and makes it a place people want to stay are the amazing people who make up the community. They make this city a beautiful place to live.
What is a common mistake people looking to list their home make? How can they avoid it?
Many sellers don’t realize just how important the first few weeks their home in on the market can be. The first impression of their home to potential buyers and Realtors representing those buyers must be a positive one!
Why is this time so essential? Realtors who are working with buyers don’t have the time to remember all the inventory on the market, and as new homes are listed they will get more attention than homes that have been on the market awhile and are at the point of dropping their prices, unless the prices are being dropped so low they’re a steal.
Also, the amount of time a home has been on a market is a large factor in the initial offer prices of potential buyers. The shorter the amount of time it’s on the market, the closer to asking price you’re more likely to get!
Your home is also competing with technology. In this high-tech world of instant communication potential buyers have the ability to have new homes on the market sent directly to their inboxes and cell phones. This only happens when the listing is new and if your home doesn’t catch attention at that point than you can lose your chance.
Lastly, those first few weeks when a for sale sign goes up in a neighborhood, it creates a buzz. Neighbors are talking and tell friends and relatives, they call their own agents, open houses are busy and full of people, and when this buzz is going there is a lot of opportunity to get a buyer quickly if you’re prepared. If you wait a few weeks the activity drops off to a fraction!
You can avoid this mistake by being properly prepared and understanding the importance of this time. Your agent should have very specific plans for when your home goes on the market to capitalize on that time!
The importance of doing underground storage tank (UST’s) inspections for homes in San Mateo County
I had the “interesting” experience in 2005 (prior to my becoming a licensed agent) of learning first hand the process behind removing underground storage tanks. Unfortunately, unlike in San Francisco which recommends sellers or buyers have underground storage tank testing for older homes as a point of sale procedure, the same recommendation is not in place in San Mateo County
To make matters worse, some believe that the natural & environmental hazards report (you may hear it called a JCP report) indicates if there are tanks on a property. This is somewhat incorrect; the report only indicates if there are known tanks on a property, typically those which have an open case & are either being repaired or removed/decommissioned.
Tanks more typically are found at the obvious commercial businesses such as gas stations or car rental/automotive shops but were also common on pre-1950′s homes as storage for heating oil.
To determine if a property has tanks, one must do a tank inspection. I sure would have appreciated knowing this nuance of San Mateo County property prior to my purchasing a home (via a local agent) which had not one but two UST’s! The discovery came about a few months after moving in while the old concrete driveway was being removed.
One tank had heating oil (this was the fuel for furnaces in older homes prior to gas) & the second tank had gasoline (probably an original homeowner fueled a car in the garage).
We quickly had a tank inspection company confirm tank presence including above ground evidence (fill pipes in the driveway, formerly covered with a concrete cover, vent pipes at the side of the property, & a former dispenser pipe in the garage).
For the record we did have property inspections. There was personal property of the sellers obscuring this above ground evidence in addition to general property inspectors are not trained to inspect for UST’s, that is a separate type of inspection.
It cost about $30,000 to remove both tanks followed by removal of contaminated soil & pump out of contaminated water over a period of ~12 months. Further joy when we had to under go one of the wettest winters resulting in having a mud swamp for a front yard/driveway.
Additional legal costs were incurred as we pursued the sellers for non-disclosure (we happened to find the owner who confirmed that sellers were aware of the tanks; prior to more stringent environmental regulations, UST’s were commonly removed by homeowners & taken to the dump & weren’t considered a big deal.
More good times & astronomical legal costs followed during the legal process of mediation & arbitration; the judge did rule in our favor and the sellers are on the financial hook. Still, would rather have just known upfront about this “nuance” in this county because I sure would not have purchased a property knowing tanks were present.
Open & closed UST sites can be found at GeoTracker which includes residences.
For a reasonable $150 or so, protect yourself & have a tank inspection!
In a market like the current one, how important is it for sellers to consider staging?
It’s never been more important. The reality is that it’s a tough market out there and with short sales and foreclosures flooding the market housing prices have fallen. Staying ahead of your competition means a move-in ready home, having high quality and quantity of photographs for your internet marketing along with a competitive price.
With 93% of potential buyers previewing your home on the internet first it’s critical your home have a strong virtual tour. It is really the first impression you can make to a potential buyer. Hiring an experienced stager who can stylize your home to enhance its photographic appeal is important. When designing a room layout I always consider how the room will be photographed so that I can enhance its photographic impact.
View a variety of virtual tours and it won’t take you long to be able to discern the professionally staged homes. The answer becomes obvious. Potential sellers need to do their homework and view their competition’s virtual tours. Their goal should be to outshine and provide more value to a potential buyer than their competition does.
 |
 |
| BEFORE | AFTER |
What should I consider before painting a room in my home, if I plan to sell soon?
Hire a color consultant!! I can’t begin to emphasize the importance of hiring a qualified stager to assist with the color choices in your home, especially if you’re going to sell. 65% of potential buyers will remember a house by it’s color and color is one of the most influential aspects of your moods!
A color should enhance the home’s existing finishes and create a warm inviting space. There are a load of books written on the topic of color psychology. In less you have a lot of experience in color I would not recommend selecting one from a small 1×2 inch swatch. Color changes from one side of a wall to another, depending on how the light is hitting it. Some colors create energy while others instill calm and rest. And let’s not even talk about how many “whites” there are out there. It is amazing the color choices we now have.
Also, it’s important not to go the ‘easier’ route and paint the walls white or ‘Realtor Beige’. Neutral colors do not have to be boring colors! You can warm up a room with beautiful colors that bring out the best in your home without being either boring or outlandish.
Some of my best staging results are when I have had control of the color both in the house as well as in the staging materials. That is when the whole home seems to glow from within. There is definitely a “Wow” moment when you first enter the house. All the color is balanced and flows from one room into another. All for just the small investment of hiring a color professional.
 |
 |
| BEFORE | AFTER |
My agent keeps telling me to ‘de-clutter’ but I have kids! Why is this SO important? Don’t potential buyers know I have life?
Almost everyone lives in some degree of clutter. However, when you are selling your home you want potential buyers to see your home, not be distracted by all of your personal items. You want them to be able to envision themselves living in this space, which is why it is recommended to de-clutter and neutralize the decor. Do you want buyers to see your beautiful kitchen with its granite countertops, stainless steel appliances or do you want them looking at the mirage of family photos on the refrigerator or the rooster collection that blankets all available shelves?
You can maximize the look of a space by having fewer items in that space. It’s really that simple. Nothing says ‘this home isn’t big enough’ than over- filled closets and storage areas. It tells the buyers that there isn’t enough storage. You should always be able to see the backs and sides of any storage space, cabinet or closet.
It’s not easy to live in a house while it’s on the market. I advise my clients to consider de-cluttering as the initial move. Pack up most of what you have and move it into storage. I tell them to think of it as if they were packing for a long trip. Anything that they won’t need in the next few weeks should be packed up and placed in storage. That includes everything from clothing and linens to kitchen items. It really breaks up the burden of moving into two manageable parts. The final move into a new home is already half done. Just pack up everything else and your move is complete.
 |
 |
| BEFORE | AFTER |
What resistance have you had from sellers/agents and what are your arguments to overcome that resistance?
I don’t think there are many people who are not experiencing the side effects of a downturn in the economy. This is particularly applicable to the real estate industry. The resistance I encounter is economically based. Homeowners are having a difficult time grasping the volatility of the market. What their home was worth just a few months ago is now irrelevant. Evaluating how much to spend on the marketing of their biggest investment is often overwhelming.
Let’s face it, it’s not cheap to properly prepare a home for sale, and it’s even more of a problem when there’s deferred maintenance to address! Even the basic preparation involves carpet cleaning, painting, power washing, garden sprucing, window washing, garage cleaning, a BFI run (or two), a storage unit rental and that’s before we even address the showcasing and virtual tour! Add on dry rot repair, foundation work, termite inspection and repair, home inspections and most homeowners are overwhelmed.
I understand the vastness of the project. Starting with a simple, yet comprehensive, workup of the property I outline the scope of the project. Breaking down that workup into small segments tames the overwhelming project into a organized project that homeowners can feel comfortable about.
Establishing a budget and offering some economic solutions is an important aspect of any staging job. Recently I have added two services to my staging business. The first is a $1000.00 Basic Stage which is popular for the smaller home or condo. The second is virtual staging. In virtual staging furniture is virtually placed into the virtual tour photographs. Although this does not replace traditional staging it is a solution for the extreme budget or remote location which renders staging too cost prohibitive.
We know that the economy keeps money on the top of homeowners minds and we have tried to adjust our business to fit our clients and allow them to still have the quality staging they need to sell their homes for more, while not making it too expensive for them to afford.
 |
 |
| BEFORE | AFTER |
About the Team
Recommended Links
Michael Haigh Team
