CNN reported recently that not only have home sales (without accounting for
seasonal adjustment) dropped to a low not seen since 1994, but also that the
number of existing (as opposed to new) homes for sale has risen to a record high.
Pundits and analysts have been speculating for a year about whether or not 2008
is the time to buy a home, and even with mortgage companies rolling back their
guidelines to textbook numbers not witnessed since the late 1980’s, the buzz is
that we’re in a buyer’s market.

It’s true that rapidly rising home prices have been keeping first-time
buyers out of the housing market, and it’s also true that we’re at a point
in most areas where home values are sliding ever downward and interest rates are remaining
fairly low, but does that mean it’s time to buy?

In a word…YES.

But you may have to prepare to actually have a down payment these days to buy a home. Many of the conventional loans available are requiring at least 20% to put down, plus an additional two or
three percent to cover closing costs, have stable employment, and have the
documentable income to support guidelines that restrict the ratio of your house
payment to your total debt to 28%. There are FHA options available to first time home buyers, however the days of having the seller contribute to pay the buyer’s closing costs are recently gone.

If you are among the population who is financially able to buy at this time,
here are some tips to keep you
from getting in over your head:

• Figure
  out what you can afford: There are many online calculators that can
  help you determine what payment you can afford, but your best bet is to meet
  with a loan officer before you ever look at property. Even in a buyer’s market,
  having a pre-approved loan makes you a better risk. In addition to being able
  to afford the mortgage payment, remember to include taxes, insurance, your
  regular recurring debt, and one-time expenses such as moving vans, when
  determining what you can spend.

• Do
  your homework: Use the Internet to research house prices and
  locations, but also to check out school districts, crime statistics, and any
  public projects (upcoming or already in process) like new shopping centers or
  freeways which might change the value of the house you want to buy. According
  to an economist at Massachusetts-based Global Insight, up to 90% of housing
  prices are explained by events in the local economy, including neighborhood
  conditions and growth.

• Shop smart: First, home sales are usually a matter
  of public record, so you can find out what homes in your preferred neighborhood
  were selling for about four years ago. Look
  beyond mere comps, and research what it would cost to buy land and build a home
  similar to the house you’re considering. Then compare the mortgage payment,
  taxes, and homeowners insurance,
  with the cost of renting a similar house in a similar neighborhood. If you can
  rent a home for the same or less money, the seller may be asking too much.

•  Negotiate:
  Or rather, have your Realtor negotiate on your behalf. Sellers of vacant
  properties, especially, are usually eager to complete a transaction, which
  gives you, as a buyer more leverage.

•  Buy for
  the long term: In current market conditions, if you plan to stay in a home for five to seven years, you should feel confident in moving forward as a buyer. Remember that statistically, most
  first-time buyers do not stay in their first homes, so think about re-sale when you buy, even if you think you will stay forever.

What does your master bedroom look like? How does it make you feel when you walk into it? I want you to try this little exercise for me. Write down on a sheet of paper 4 words that describe the master bedroom that you would like to have. Here are some words that come to my mind: peaceful, relaxing, romantic, get-away retreat.

Our master bedroom should be our retreat. It should be one of your favorite rooms in the house. What should it not be? The catch-all room for all the items that have no home. Too many times that’s exactly what it becomes and our dreams for this space get put on the back burner. We create gorgeous rooms for our kids, living rooms that we can have family time in and a guest bathroom that we are proud of. Today, we are focusing on that forgotten master bedroom.

Get the Clutter Out

In order to create your dream bedroom, follow the steps on How to Declutter It!. We want to start with a clean slate. Get rid of the kids’ toys, the items that belong in the garage and storage and that exercise bike that doubles as a hanging rack.

Furniture and Accessories

After you have emptied the room of everything that doesn’t belong there, take a look at the furniture placement. Does it flow? Can you walk around easily? If you have the money to invest in new bedroom furniture, be sure and measure to see how much space you actually have in your room. It sure would be a bummer to pick out beautiful furniture and then realize it’s too big.

If you don’t have the money for new furniture, do the best with what you have. Maybe you could add a few inexpensive touches like pillows, candles or a new bedspread and curtains. Adding the accessories will be the last thing that you do though. Let’s find everything a home first.

Organizing the Space

1. The Night Stand - If you like to read in bed, organize your night stand to where everything is accessible. Keep a good selection of reading material near by and also a lamp. If you like to apply lotions after you crawl into bed, put a decorative basket on top and fill it with your favorite items. Whatever you do, do not overload the top of the table. Only place 2 - 3 items there.

2. The Bed and Un-used Space - I love under the bed bins. They are great for storing sheets, out-of-season clothing and extra blankets. Use the space under the bed wisely. As far as the bed goes, check your pillows to see if they need to be replaced. There’s nothing like a new pillow!

3. The Dresser - This is another catch-all space. It can get cluttered up so fast. Keeping that area clean with only a few items on top, will help your bedroom look so much neater. If you need a place to dump your wallet, keys and change, use a basket. It will keep everything together and it will look much better.

As far as the dresser drawers go, you can buy drawer dividers for your underwear, panty hose and socks. This keeps them all nice and neat and lets you actually see what you have.

Miscellaneous Items

A few other items that might be nice for your master bedroom include:

• A nice chaise lounge for reading
• A trunk for the end of the bed to store blankets or other items
• An armoire for storing a tv if you have one in the bedroom

Well, I hope I have given you all some good ideas this week for getting your home organized. I have been a faithful reader of Shakhammer for quite some time and was honored to be a guest blogger.

Feel free to come on over to Declutter It!. Hope to see you around!

Have you ever made a goal to get organized? Like when the first of the year comes and you set those New Year’s Resolutions. Or, it’s time for school to start and your kids are out of the house, so you just know you’ll have tons more time to get stuff done.

If you have years or months worth of clutter that has accumulated in your home, it’s going to take more than the statement "I’m going to get organized!" to tackle the problem. It’s going to take a serious step-by-step plan.

I have had clients follow these same steps and have also used them myself when I felt like my home needed some revamping. Yes, I am organized, but I am also human and there have been times I’ve looked around my house and wanted to pull my hair out!

Here’s how to identify those pesky problem areas in your home:

Decide what the room’s purpose is - Sit down with a notebook and pen write down each room in your house. Then write down what goes on in that room or what you would like to be able to use the room for.

For example,let’s say you would like your master bedroom to be a quiet retreat for yourself. You want to be able to go in there after the kids are in bed and watch a great movie or read a book.

Or maybe you want the garage to be an area where you can getaway and experiment with your hobbies. Possibly you would like to actually park the car in there!

Giving each room a purpose is your first step to reclaiming your house.

Decide what’s wrong with the room - For this step you will need to walk around your house with the pen and paper in hand. Write down 4 things that are the biggest headache in each room. This can be anything from an uncomfortable bed to a pile of clothes that has no home.

Does your master bedroom have only a bed and nothing else for storage? Maybe your child’s room look like Toys R Us threw up in there and they are always complaining about not being able to find anything.

Whatever it is write it down, but only write down 4 things. Remember, you’re overwhelmed as it is.

Decide what needs to be done to the room - This is the last step in identifying the problems. You now have written down what you want the room to be used for and what’s wrong with the room. Now decide what you would like to do to the room to help it fulfill the use you assigned to it in the first step. This step is all about dreaming.

Remember that master bedroom that you wanted to use as a retreat? What does it need, besides getting rid of the clutter? Maybe you would love a nice reading chair and a beautiful lamp. Or you the room needs a dresser to put that pile of clothes from the corner in.

As far as the garage that you wanted to use as a hobby area, is it so cluttered with junk that you can’t even walk through it? If the answer is yes, then it sounds like you need some storage. Overhead storage and wall grids would be perfect so that the floor space would be freed up.

Like I said, this step is all about dreaming. You’re probably not going to be able to purchase all these things up front, but at least you have a nice list of ideas in front of you and you know what things bother you about each room in your home.

It’s amazing how purchasing the simplest things like a hamper or a chair can help you create the room of your dreams. It’s all about planning and dreaming when it comes to identifying those problem areas.

Be sure and join me tomorrow when I talk about "How to Declutter It!".

Starting next week, my blogging friend, Julie, will be joining us here at Shakhammer as a guest blogger for the whole week. She will be bringing all sorts of tips, tricks and ideas on how we can keep our homes DeCluttered and Organized! 

Julie knows how to keep just about everything in your life organized and she has found hundreds of cool gadgets that help us do so. I am so excited to have her! Join us next week for some fabulous ways to DeClutter It!