Five real estate tasks best done early

While I'm a big proponent of avoiding premature real estate moves, there are a number of tasks that are best done before you think they need to be. These are things that tend to take longer or often turn out to be more complex than people plan for. 

1. Check your credit. 

Everyone knows that you should check your credit, or have your mortgage broker do it, some time before you get ready to start house hunting. What people fail to factor in are the real-life turnaround times on rehabbing your credit in the event there are errors, fraudulent entries, balances you need to bring down, or trade lines (credit accounts) you need to build up in order to qualify for a home loan. 

For the most part, erroneous entries should be removed/removable in relatively short order, but on occasion, something like an account that was truly, but fraudulently, opened by a relative in the borrower's name can take weeks or months to resolve and remove. Many wannabe buyers who consider themselves very responsible, financially, also may be surprised to find that lenders require that they have some demonstrable history of responsibly using credit. In some cases, they will actually need to open and maintain one or more credit accounts in good standing for a short while to qualify.

2. Change your spending habits. 

The most-overlooked benefit of the tight lending guidelines in place during the past few years is that they motivated mortgage applicants to buckle down, get out of debt and be meticulous about their credit. In the process, people actually rehabbed their spending habits and financial behaviors way in advance of buying a home, creating a level of financial discipline that is freeing, enjoyable and stands them in good stead as homeowners over the long term. 

As loan guidelines loosen up a bit, it's still advisable for buyers-to-be to get serious about the whole picture of their finances as soon as they make the decision that they want to buy a home down the road, and clean up their spending, saving, debting, and other money matters.

3. Saving. 

Some buyers save up precisely what they need to put down on a home and pay their closing costs, not realizing that they might actually need to demonstrate several months' worth of payments that will still be in "reserve" in their savings or investment accounts after they close escrow and deplete their cash-to-close savings. 

Also, buyers who start saving late often fail to calculate for the very common tendency buyers have to increase their search price range over time, and for the costs of the fixes and furnishings they'll want when they move in. 

These miscalculations tend to result in buyers trying to get unrealistic deals on the first few homes they like, losing a few before they get real about what can truly be had for their dollar in their market.

4. Apply for tax reassessment. 

Don't forget you can still apply to have your taxes reassessed even though the deadline has already passed for the year. Many who hold off because they missed the deadline actually end up losing track of this to-do list item and forget to come back around to it. If you've missed the deadline to apply to have your home's assessed value reduced for property tax purposes, just apply anyway -- early for next year.

5. Talk to a real estate or mortgage broker. 

Don't delay. Real estate and mortgage brokers are a wealth of information that have the power to take your mental estimations of what will be involved and required to buy or refi or sell into the realm of a reality-based action plan. And they are ecstatic to get calls from prospective clients (that's you) months, even years, in advance, as it makes their job, once it's time to do it, much smoother and simpler. 
Talking to a pro before you think you need to can be an eye-opening course-corrector in terms of understanding things like how much you need to put down, any work you need to do to your credit, what you can expect your home to go for or cost you, and many other expectation-managing, plan-of-action-driving essentials.

Crunching the numbers on competing purchase offers

Sellers are inclined to go with the highest-priced offer when they receive more than one. But, price is only one factor to consider. An offer with a lower purchase price but a large down payment and a quicker close could be best.

The terms of a purchase offer can make or break a deal, particularly given today's stringent mortgage qualification requirements. Buyers with large cash down payments usually have an easier time qualifying for a mortgage than do low-cash-down buyers.

However, today even large-cash-down buyers need to qualify. Unlike in 2006, lenders now require verification of employment, a great credit record, and one or two acceptable property appraisals. 

A large cash down payment can salvage a transaction that might otherwise fall apart if the property appraises for less than the purchase price. If the lender is willing to loan the buyer up to 80 percent of the appraised value, and the buyer needs a loan for only 60 percent of the price, the deal will probably stay together if the appraised value is 5 or 10 percent lower than the purchase price.

But, if there is an appraisal contingency in the contract, the buyer could decide not to proceed with the transaction, or not at the purchase price, based on the fact that the property didn't appraise for the price he agreed to pay. 

The buyer might try to renegotiate the price to keep the deal together. If the seller doesn't agree, the buyer can usually withdraw without penalty, depending on the wording of the appraisal contingency.

When the appraised value comes in under the purchase price and the buyer is making a low down payment, you're sure to have a problem unless the buyer has more cash to put down or the seller agrees to lower the price, or a combination of the two.

Let's say your home is listed for $775,000. You receive three offers from qualified buyers. One is for $850,000 from a buyer who has lost out in multiple-offer competition repeatedly. He will make a 10 percent down payment, and the contract includes an appraisal contingency. 

The second is for $825,000 with a 40 percent down payment and an appraisal contingency. The third offer is also for $825,000 with a 35 percent down payment and no appraisal contingency. You are told by the buyer's agent that the third buyer has more money to put down, if necessary. All offers include an inspection contingency.

HOUSE HUNTING TIP: One option would be to use a multiple counteroffer that includes a provision to alert the buyers that counteroffers are being issued to one or more other buyers. Acceptance of one of the counteroffers will occur when the seller re-signs the counteroffer after the buyer has signed it. The seller has only one house to sell so the multiple counters must be conditioned on the seller having the final say.

The terms of multiple counteroffers don't need to be the same for each buyer. If the comparable sales don't support a price even close to $850,000 for your home, the offer from the "10 percent down" buyer is risky. You could counter this buyer and ask him to increase his deposit amount and waive the appraisal contingency. You could ask the second buyer to pay $850,000 and remove his appraisal contingency. And, you could increase the price to $850,000 on the third offer.

The risk of this approach is that you could lose one or all of the offers, particularly if the buyers think you're greedy. All offers are for significantly more than the list price.
THE CLOSING: Another option is to not use a multiple counteroffer, but accept or counter the third offer in primary position and counter the second offer for backup position.

Condo For Sale - Henderson, Nevada

Five things to know about a home before committing to buy

Your due diligence inspections should include more than hiring a home inspector to look at the home and reviewing a current termite inspection. And your due diligence should start as soon as you have serious interest in a listing.

Making an offer to purchase a home consumes a lot of time and emotional energy. Before your real estate agent or attorney puts pen to paper, find out as much about the property as you can. In particular, you want to know if there's any reason you shouldn't try to buy the house.

Seller disclosure requirements vary from state to state, as does real estate practice and protocol. Find out if there are any seller disclosure statements and presale inspection reports. If there are, ask to see copies before you write an offer.

In some areas, it is standard procedure for listing agents to provide a disclosure package that includes any existing reports and disclosures to interested buyers before they make an offer. In other areas, reports are made available only after the buyer and sellers have negotiated the purchase agreement. Get ahold of as much information as you can about the physical condition of the property as soon as possible.

After you review the seller's documents on the property, you may discover that the home you find so appealing requires a far bigger investment in repair work than you can handle or afford financially. In this case, move on to the next property with no remorse. You've saved yourself from hassle and heartbreak.

On the other hand, if the reports and disclosures fall within your expectations, move on to investigating the local neighborhood. On closer look, you may discover that there are several large apartment buildings that back up to the house you're interested in buying. This might create a noise factor. If you're sensitive to noise, you might not be happy living in the property you're considering.

Buyers sensitive to crime should check with the local police department to see if the neighborhood is being hit by waves of break-ins. Drive by the property several times during daylight and evening hours to see if the complexion of the neighborhood changes in any way that is disadvantageous to you.

Commuters should drive from the property to work and back during rush hour, and check into all the public transportation options that are available in close proximity. If you're intent on buying within walking distance to shops and cafés, find out how long it takes to get from the house you think you want to the nearest commercial area.

HOUSE HUNTING TIP: It's wise to include an inspection contingency in your purchase offer so that you have a time period to complete whatever inspections of the property you deem necessary before committing to move forward with the purchase. This is recommended even if the seller has completed presale inspections. 

Some buyers who have confidence in the seller's home inspector hire that inspector to do a walk-through inspection with them so that the inspector can explain his report and answer any questions. The fee for this sort of inspection will usually be less than what the seller paid for the initial inspection and written report.

Don't skip inspections to save money. It could cost you plenty in the long run if uninspected items turn out to be faulty and you have to pay to repair them. 

Order a home inspection as soon as possible after your offer is accepted by the sellers. Most home inspections include recommendations for further inspections. If you don't have the home inspection done early, you may not have enough time to complete all the further recommendations recommended, like roof or drainage inspections.
THE CLOSING: If you run out of time, ask the sellers for an extension. 

Closing delays can be costly when buying new home

Q: I have signed a contract to purchase a newly built home. The homes have been on the market for 420 days. 

My lender is having issues meeting the closing date agreed upon, and now the builder is charging me $300 per day for each day closing is delayed. 

Do I have any legal recourse to back out of the purchase?

I am using a Department of Veterans Affairs (VA) loan and paid a $2,750 deposit on the home, and now I am looking at approximately $3,500 in fines before closing. All my required documents have been with the lender for 35 days and we were prequalified before the purchase. 

A: Thirty-day escrow time frames were once the norm. On today's market, though, many lenders and real estate brokers write even the best-qualified, most fully preapproved buyers up for escrows to run at least 40 days -- minimum -- because of changes in the market and the mortgage regulatory system that have removed much of the control any given loan broker or lender has over how quickly a transaction can be done.

Many mortgage brokers say the only deals that close in 30 days or less anymore are cash purchases.

Here are a few things you should be aware of and think about:

1. Your 35 days was probably not a true 35 days. When you look back from today on the calendar, you'll see at least five days' worth of federal and banking holidays have fallen within the previous 35 days, what with Christmas and New Year's Day, both their eves and Martin Luther King Jr. Day. Take those and all the weekends out, and your mortgage broker, appraiser, and underwriter have really had more like two weeks to work on your loan.

2. It's tough to turn a loan around in 35 days on this market. And while two weeks sounds ample, it's really not when considering the current mortgage marketplace. Most mortgage lenders now are required to order appraisals through a third-party appraisal management service, which then reaches out to appraisers. 

This middleman arrangement was designed to eliminate any lender-appraiser influence, but in actuality has created a number of logistical problems, one of which is extending the time it takes an appraisal report to be issued. 

It's not at all uncommon for just the appraisal portion of a loan underwriting process to take three weeks, assuming everything goes smoothly; only then does the lender actually do its in-depth underwriting review of your application and financials to ready the loan for funding, a process that can also take two or three weeks in the best-case scenario.

3. Whether you have recourse to back out depends on the contract. Most home purchase contracts have a loan contingency that enables you to cancel the deal if you are unable to qualify for the loan. In some cases, the contract loan contingency actually stays in place until the loan is funded.

However, the home purchase contracts that are most likely to veer outside of normal standards and practices are, you guessed it, new-home sales contracts. Because the builder often has its own lawyer write these contracts, they frequently have clauses that weigh in the builder's favor, such as a $300 per day late closing fee.

If you are working with a real estate agent, you might consider talking with his broker or manager to see if they can help you (a) negotiate for an extension of time without the penalty fee, or (b) help you get out of the transaction entirely if you feel the $3,500 is truly worth giving the home up. 

In any event, it might not hurt for you to have an hour's consultation with a local real estate attorney who can read the contract, advise you of your rights and any legal bases for getting out of the penalty or the transaction, and perhaps even write a letter or make a phone call on your behalf to the builder to try to get things back on track. 

For example, with Department of Housing and Urban Development-insured FHA loans, there is a little-known clause every seller has to sign that requires the earnest money to be refunded if the buyer is unable to secure the loan. VA loans are quite specialized, but a good real estate attorney will be able to comb through your contract, any loan-related documents that the seller/builder might have signed, and your state's body of law to detect all your rights and powers in this situation.

Before you do any of this, though, I'd urge you to contact your mortgage professional to get a firm sense of when the loan will actually close. Whatever he says, you should add a few days for good measure. 
Almost any builder would prefer to have you close the deal over collecting the $3,500 penalty, so even if you do find a way out, any approach you make to the builder should be prefaced with the fact that you'd prefer to find a way to close the sale without the fee than to kill the transaction entirely. Then, you (through your broker or attorney) can offer the information you have from the lender about whether and when the loan process is truly likely to close escrow, and offer the builder two alternatives: an extended closing time frame or no deal at all.

How To Add Power To Purchase Offer

Figuring out how much to offer on a home you'd like to make your own is never easy. 

A complicating factor is that although it appears that the housing market may be stabilizing, there is no guarantee that prices won't slip further.

With this in mind, don't buy for the short term. Don't buy betting on future appreciation. Buy a home that will work for you long term, at the best price you can negotiate, using financing you can afford.

To avoid paying too much, hook up with a real estate agent who will educate you about how much you'll have to pay for a home that works for you. The Internet is a great resource to help you learn about neighborhoods, current listings, and past sale prices.

However, a diligent, knowledgeable real estate agent who has experience helping people buy and sell homes in the area where you want to live can get you up to speed on what's happening in that niche market now.

HOUSE HUNTING TIP: Ask your agent to give you a summary of all listings that you might have been interested in that sold during the last three months to six months, including list price, sale price and how long they took to sell. It's also useful to have information about the change in average sale price over the past year. Have prices declined? Are they flat? Or are they rising?

Also, ask for a list of properties currently available and pending sale. A pending sale is one where the sellers have accepted an offer, but the sale hasn't yet closed. Significantly more active listings than pending sales in an area suggests a high-inventory market where buyers have an advantage. Few active listings relative to pending sales is characteristic of a low-inventory market.

During your house-hunting education, make sure your agent reports back to you about day-to-day changes in the market. If an overpriced listing has a price reduction and is now in your price range, make a point of looking at it as soon as possible. A new price can attract other buyers' interest.

When listings you've seen sell, your agent should let you know the sale price. This will help you develop a sense for when a listing is priced too high, or priced at or under market value. How well a listing is priced for the market affects your offer strategy.

A well-priced listing in a low-inventory market is likely to sell quickly. There could be more than one buyer making an offer. If so, you may need to make an aggressive offer near, at or over the asking price. However, multiple offers don't always result in a sale price higher than the list price.

Becoming savvy about local market pricing enables you to know when to make a strong offer on a new listing, even though the overall market may be lagging.

It's a different story in segments of the market where there are plenty of listings that take months to sell. In this case, you have choices, making it possible to offer less than the asking price and negotiate. If this one doesn't work out, you move on to the next. You should be prepared to walk away rather than pay too much.

Buyers making offers that are contingent on the sale of another property usually have to pay more than all-cash buyers who can close quickly. If you've already sold your home and are waiting for the sale to close, you'll be in a better position to negotiate on price.The best bet is to have your home sold and closed. It removes uncertainty in the sellers' minds and may make them more receptive to a lower price.

9 Ways to Appreciate Your House Just as It Is

Whether you've been letting your home improvement to-do list get the best of you, or are finding yourself comparing your real-world home to professionally styled and photographed ones, it's natural to get a little down on your home from time to time. 

Luckily, feeling content at home is something available to everyone, no matter the size or condition of your space. By working your way through these nine suggestions, you can gain a deeper appreciation of your house, just as it is today.

1. Consider what first drew you to your home. No matter where you live, there was likely something that attracted you to your house when you first saw it. Was it the sunny yard, charming porch, original wood floors? Once you are living in a place, it's natural to focus more on home improvements, but taking a moment to recall your favorite things about your home can put things in perspective.

2. Use your senses. If you're getting down on your house, it can be hard to find anything to appreciate — but using your senses, you can zero in on the pleasures of home. Take a quick sensory tour of your home and note anything positive: the cozy comfort of your couch, the smell of coffee brewing, the feel of a fluffy rug between your toes.

3. Contrast it with not-home. Imagine you've just been on a long trip, and you are arriving home for the first time in weeks. You close the door behind you and take a deep breath. What are you most looking forward to about being home in that moment? Think about the ways your home comforts and supports you.

4. Think beyond the visible. Is your rent or mortgage affordable, allowing you to live within your means? Is your home near your best friend's house, a lovely park or your favorite café? Is it quiet? Are your neighbors nice? There are many factors that you may not see when you look around but that are just as (or more) important than the space itself.

5. Consider what visitors like about your home. When friends come over, do they comment on how welcoming and relaxing your house is? Is it great for parties, intimate chats, or barbecues on the lawn? Pay attention to what others have to say about your space.

6. Look at the living things. Be sure to count the people and furry friends you share your home with among your blessings. Does the light in your home make it easy to grow that windowsill herb garden? Does owning your own home or having an accommodating landlord make it possible to share your space with furry friends? Do your kids love jumping on that squashy old couch?

7. Look out your windows. Do you have a view of your private garden, a bustling city street, a beautiful tree? Do you have a favorite spot where you like to sit and daydream, simply gazing at the clouds outside?

8. Look on the bright side. Sometimes all it takes is a fresh perspective to turn what could be a negative into something good. A small space may feel cramped, but it also uses fewer resources, so it's naturally greening your lifestyle.

Sharing a home with extended family may be trying at times, but it's undoubtedly providing memories you will cherish for many years. If something has been irking you, try to think of an upside.

9. Consider what your home allows you to do. Whether you love to cook, entertain, read, watch movies or play with your kids, focusing on the activities you enjoy at home can help take the focus away from that never-ending list of improvements. In fact, using your home more is one wonderfully simple way to appreciate what it has to offer.

2015 Housing Market Forecast (VIDEO)

5 Tips for Protecting Against Identity Theft During a Move

Even when a move goes off without a hitch, it can still be one of life’s most stressful events. The last thing you want is to be caught off guard by a case of identity theft just as you’re settling into your new home. Unfortunately, moving can put a big target on your back for identity thieves.

“Transporting documents and electronic devices that contain sensitive personal information, leaving a residence unoccupied and [losing] misdirected mail are all risks associated with moving,” said Stacey Vogler, managing director of insurance company Protect Your Bubble.

If your stress levels are skyrocketing at the thought of having your identity stolen in the middle of your next move, take a deep breath and follow these five tips for protecting yourself against identity theft.

1. Choose a Reputable Moving 

Company.
While a great moving company can make your relocation easier and more efficient, dishonest movers can quickly turn the process into a nightmare. Don’t forget that moving professionals often have direct access to your private possessions and information, so you always should do research to make sure a company is trustworthy. Before you hire a mover, read customer reviews online and view a company’s rating with the Better Business Bureau, recommends Robert Siciliano, identity theft expert with BestIDTheftCompanys.com.

2. Keep Sensitive Documents Safe.


If you’re holding on to a large number of old bills and financial records, reduce your risk by getting rid of sensitive documents you don’t need.

“Sort through stored paperwork to determine what should be moved to the new location and what can be discarded,” Vogler said.

Just make sure you’ve got a shredding machine handy to prevent identity thieves from combing through your trash or recycling bins for valuable information.

Organize all the sensitive documents you want to keep and separate them from the belongings your movers will be handling. Vogler recommends storing your most important records—including passports, birth certificates and Social Security cards—in a locked safe that stays with you during the move.

3. Safeguard Electronic Information.


As more information is stored online and on electronic devices, it’s increasingly important to make sure no one gains access to your computers, tablets or smartphones while you’re in the midst of moving.

If you’re discarding, donating or selling old electronics before your move, thoroughly wipe all data from those devices. Keep your other devices safe with password protection before the movers show up.

4. Direct Your Mail to the Right Place.


Even if you shred or lock away all your existing sensitive information, you still need to consider the documents that are on their way to you. Financial records mailed to the wrong address easily can put you at risk for fraud, so be sure to set up a change of address with the U.S. Postal Service before you move, Vogler said.

To further prevent these records from falling into the wrong hands, get in touch with your financial institutions and verify that they have your new address on file, said Eva Velasquez, president and CEO of the Identity Theft Resource Center.

5. Consider a Credit Freeze.
 

For even more peace of mind during your next move, Siciliano recommends investing in a credit freeze. The reason? When an identity thief steals your information and tries to open up new lines of credit, lenders typically run a credit check.

“With a credit freeze, nobody can check your credit until you personally unlock the freeze,” Siciliano said.

Without access to this information, lenders are much less likely to grant a thief a new line of credit under your name.

To put this safeguard in place, you’ll need to contact each of the three credit reporting bureaus (Equifax, Experian and TransUnion), follow their credit freeze procedures and pay a small fee (usually $3 to $15) to each bureau.
While you could opt for a fraud alert to protect your credit, Siciliano recommends a credit freeze because a fraud alert lasts for only three months. “A credit freeze is forever,” he said. Putting a freeze in place gives you one less thing to worry about during your next move—and all future moves.

7 Helpful Tips for First-time Home Buyers

Looking for a new home can be a pretty exciting task. With that much money on the line, it's worthwhile to read up on the process before you set out. Unnecessary mistakes can and should be avoided while trying to get the best deal for your money. As a first-time home buyer, proper guidance from seasoned professionals can make all the difference.

Here are a few tips first-time buyers can take when trying to find their first home:

Get clear on what you want – This is the most important part of your preparation. You are about to enter a shopping experience that is unlike any other. At times, it can be stressful and difficult. 

There is a lot of money on the line and a big commitment to be made, so prepare accordingly. Get clear on what you really want and what you are willing to compromise on. This will make your home shopping experience much more efficient and will give you a map to go off of should tensions run high. 

Take a look at this guide to buying your first home, which might help you narrow down your wants vs. needs. The better prepared you are, the better chance of having a smooth transaction.

Do your research – Home shoppers today are more empowered than ever before. You have so much information at your fingertips. Go online and find the areas you want to live in. Narrow down the neighborhoods you want to consider to three or four, and focus on those. Learn about the cost of the things you really want and the cost of the things you can do without. The more knowledgeable you are the better you will be at negotiating a good deal.

Talk to the bank – Preparing to get a mortgage in advance of your actual purchase will be super important.

Before you start looking at houses you should have a discussion with your lender. The lender will be able to give you an honest assessment of what your finances look like, how much house you can afford and what your rates will be. You want to know all of this – what it will really cost you – before you start looking at homes you can't actually afford. Find out what your monthly payment will be at different amounts and determine what your personal limits are as well. Depending on your credit, the lender may be willing to give you far more than you need. Once you know the time is right to buy a home make sure you get pre-approved by a lender. Make sure you understand the difference between getting pre-approved and pre-qualified for a mortgage. Without a doubt you will want to get pre-approved as a pre-qualification letter is not worth much. A savvy REALTOR® representing a homeowner will pick up on this right away. If you are competing with other buyers and are not financially prepared, you could lose out on your dream home!

Think about the future – Is this going to be a starter house that you will move out of in five years? Is it going to be a property that you fix up and flip? Is it going to be the home for your new family that you will be in for 10 or 20 years? Your long term plans will help dictate your purchasing choices. It is important to understand what you really want this home for before you go and sign any papers and spend any money. One of the biggest mistakes first-time home buyers make is not thinking about their long term plans.

Find a good REALTOR®– A real estate agent can prove invaluable when shopping for a home. If you find one that is good – an agent that is finding people the homes they want at a price they are happy with – then much of the work will be done for you. The agent will talk about what you want, will run you through much of the above mentioned areas and will help you find the houses that are really what you are looking for. The agent will also be an effective negotiator, meaning that you will probably get more house for your money than if you went at it alone.

Set a timeline – The situation you are in is uniquely your own. You want to set a timeline for when you will find and buy a home – a timeline that reflects your realities. If you have bad credit that needs to be cleaned up first, for instance, you will need to spend some time working on that before you actually start house hunting. If you need to move right now, that is another factor in your timeline. Give yourself some restrictions so you will be encouraged to move at a steady pace and get the job done. Hunting for a house can be quite stressful and it is not something that should be drawn out any more than necessary. Determine what you want, work with a REALTOR®, and get it as efficiently as possible.

Understand your fiscal responsibility - Another problem that first-time home buyers don't always properly think through is the financial responsibility of owning a home. A large amount of buyers will think about making their mortgage payments and nothing else. If you have been renting for a while, or even living with mom and dad, it is easy to see why this can happen.

Unfortunately, owning a home comes with quite a few more additional first-time home expenses that you may not have considered such as appliances, furniture, and even taxes and insurance. These are all important things to consider when putting together your homebuying budget.

Use all of the above tips for finding your first home and you will be well on your way to enjoying your new life as a homeowner!

Getting Organized in the New Year

The New Year compels all of us to relinquish the past and change our circumstances for the better. Hoping to literally wipe the slate clean? Look no further than your household. How many times have you vowed to keep things organized, only to discover that by mid-January, the clutter culprits are back in full force? 

Nothing kills New Year’s motivation faster than setting a goal beyond realistic reach, and if you don’t have a knack for organization, tackling your entire home will be impossible. Rather than organizing every nook and cranny, carry out a small-scale purge instead.

1. Stock up on storage.
Unloading more stuff at home seems completely counterproductive, but those bins and baskets will create order out of chaos. Place them at drop points around your house, such as near your main entrance, on your kitchen counter or coffee table, or in your home office. No need for a meticulous system – mail, coupons, takeout menus, instruction pamphlets and more can go in whichever catch-all is most convenient.

2. Gift yourself a paper shredder.
Papers tend to accumulate quickly at home, and sensitive documents can be a gateway to identity theft if not handled properly. And trust me – there’s nothing more exciting than watching your cross-cutting machine lay waste to piles of paperwork. Round up junk mail, bank statements, non-active membership documents, and any private information you’re not required to keep and get shredding.

3. Pare down duplicates.
Two isn’t always better than one. Consider donating multiples of common household items you haven’t had a need for in a year or more. 

4. Get smart about space.
Who has time for a closet overhaul? If your closets are bursting, don’t try to cram more into them. Instead, work within the parameters of the space. Vacuum seal items that are not in season, and use this space-saving trick for bed linens: store folded fitted and flat sheets and one pillowcase inside the accompanying pillowcase. For clothes, utilize the hanger strategy: flip your hanging garments so that the opening of the hanger faces you. Whenever you wear an item, put it back on the hanger and turn it to face away from you. After a few weeks, donate, toss or sell items on hangers still facing you.

5. Cut computer clutter.Having too many files not only makes documents harder to find, but can slow down your computer’s processing speed and sap precious battery power from laptops. Remove programs that haven’t been used in six months or more, delete photos that aren’t album-worthy, and reserve space on your desktop for the applications you visit most frequently.

Tech=Smart Home Buyers