The document provides 10 tips for home buyers and sellers in 2014. It notes that new construction home sales and previously underwater properties are improving. Economists expect home prices to rise another 4-5% in 2014. Tips for sellers include starting the selling process early and vetting real estate agents. Tips for buyers include being credit-ready, adjusting negotiating expectations, and finding out allowable waiting periods after foreclosure. Additional tips caution sellers on renovating for resale value and advise both parties to consider trends when buying or selling.

1. 10 Tips for Home Buyers and Sellers
in 2014

2.  New-construction home sales are up, previously underwater
Properties are in positive equity again and investors are turning their
attention to "secondary markets" to find value. Economists expect
house prices to rise another 4 percent to 5 percent in 2014, meaning
remaining bargains will get even more sparse. With that in mind,
here are 10 tips befitting the up-market of 2014.

3. Sellers: Jump-start the process.
You may be an avowed procrastinator, but if you want to sell a
house this year, start planning now.

4. Buyers: Be credit-ready.
There's a lot of competition out there for Homes, so tarry not.
Get your credit report and start repairing any blips. If your scores are
below 620 or so, a conventional loan will be a challenge.

5. Sellers: Vet your real estate agent, then follow the agent's advice.
Sellers lose time and money by hiring poorly. Interview several
potential agents. You'll want a full-timer who is Web savvy and
uses mobile technology, because at least 4 in 5 buyers view their
homes first online.

6. Buyers: Adjust your negotiating expectations.
Lowball offers are off the table in this environment and could
eliminate you from consideration. Respond to counteroffers quickly
to keep other buyers from entering the picture; you don't want to
encourage a bidding war. If one breaks out, be prepared to get
fewer concessions and pay more money.

7. Sellers: It's your market (finally) so make the most of it.
At long last, it's a seller's market! While you're interviewing agents,
be wary of those offering too-good-to-be-true price opinions because
they may be trying to "buy" your listing. And don't jump at that first
(seemingly) generous offer, especially if sellers are getting multiple
offers.

8. Buyers: Find life after foreclosure.
Have a foreclosure in recent years? Join the crowd. Though you
might think you have to wait seven years to get another conventional
mortgage, Fannie Mae, Freddie Mac and the FHA say they actually
require just a three-year waiting period if the foreclosure was caused
by extenuating circumstances.

9. Sellers: Hesitate to renovate.
We hear that newly renovated homes are easier sells, and that's
true. So is it time to remodel that outmoded kitchen? Not if you plan to
sell soon. According to remodeling surveys, the average renovation
project returns only about two-thirds on investment. For example, a
major bathroom remodel costing $15,000 yields about $10,000 in resale
value.

10. Buyers: Ask and you won't receive (an unpleasant surprise)
You'd be dismayed at the things sellers aren't obliged to disclose
in most states, including on-premises felonies, suicide, murder or a
neighboring sex offender. Don't be afraid to thoroughly question the
selling party in writing before signing the contract

11. Sellers: Tailor your local game.
Folks who base their selling decisions on trends on cable news are
often left wondering, "Why can't I sell at this price?" The truth is, all
markets are different and all real estate is local, and prices can vary
greatly even in adjacent subdivisions.

12. Sellers and buyers: Heed changing trends.
Pay attention to trends and react accordingly. Thinking of
laying carpet? Agent surveys in the past few years show homes with
hardwood floors or faux wood laminate floors are far faster sells.

13. ABOUT US
Akshaya was founded in 1995 under the stewardship of Mr. T. Chitty Babu,
a leading light of the real estate industry in India. It has grown into one of
the most awarded companies in the country acclaimed for its transparent
business practices and innovation. The journey over the last 19 years has
seen the company excel in both the home and commercial domains by
building more than 150 magnificent edifices in South India.
CONTACT US
Akshaya Services Private Limited
Capitale, No. 22, 2nd Street, Nehru Nagar,
Adyar, Chennai - 600 020.
Tel: 044 - 2445 1818
Website: www.akshaya.com