Sellers, don’t let pet odors derail your home sale!

We’ve heard specific feedback from buyers that pet odor is a major turn-off, even if the property fits what they’re looking for. So…

Air your house out. While you’re cleaning, throw open all the windows in your home to allow fresh air to circulate and sweep out unpleasant scents.

Once your house is free of pet odors, do what you can to keep the smells from returning. Crate your dog when you’re out or keep it outdoors. Limit the cat to one floor or room, if possible. Remove or replace pet bedding.

Scrub thoroughly. Scrub bare floors and walls soiled by pets with vinegar, wood floor cleaner, or an odor-neutralizing product, which you can purchase at a pet supply store for $10 to $25.

Try a 1:9 bleach-to-water solution on surfaces it won’t damage, like cement floors or walls.

Got a stubborn pet odors covering a large area? You may have to spend several hundred dollars to hire a service that specializes in hard-to-clean stains.

Wash your drapes and upholstery. Pet odors seep into fabrics. Launder, steam clean, or dry clean all your fabric window coverings. Steam clean upholstered furniture.

Either buy a steam cleaner designed to remove pet hair for around $200 and do the job yourself, or pay a pro. You’ll spend about $40 for an upholstered chair, $100 for a sofa, and $7 for each dining room chair if a pro does your cleaning.

Clean your carpets. Shampoo your carpets and rugs, or have professionals do the job for $25 to $50 per room, depending on their size and the level of filth embedded in them. The cleaner will try to sell you deodorizing treatments. You’ll know if you need to spend the extra money on those after the carpet dries and you have a friend perform a sniff test.

If deodorizing doesn’t remove the pet odor from your home, the carpets and padding will have to go. Once you tear them out, scrub the subfloor with vinegar or an odor-removing product, and install new padding and carpeting. Unless the smell is in the subfloor, in which case that goes next.

Paint, replace, or seal walls. When heavy-duty cleaners haven’t eradicated smells in drywall, plaster, or woodwork, add a fresh coat of paint or stain, or replace the drywall or wood altogether.

On brick and cement, apply a sealant appropriate for the surface for $25 to $100. That may smother and seal in the odor, keeping it from reemerging.

Place potpourri or scented candles in strategic locations. Put a bow on your deep clean with potpourri and scented candles. Don’t go overboard and turn off buyers sensitive to perfumes. Simply place a bowl of mild potpourri in your foyer to create a warm first impression, and add other mild scents to the kitchen and bathrooms.

Control ongoing urine smells. If your dog uses indoor pee pads, put down a new pad each time the dog goes. Throw them away outside in a trash can with a tight lid. Remove even clean pads from view before each showing.

Replace kitty litter daily, rather than scooping used litter clumps, and sweep up around the litter box. Hide the litter box before each showing.

Relocate pets. If your dog or cat has a best friend it can stay with while you’re selling your home (and you can stand to be separated from your pet), consider sending your pet on a temporary vacation. If pets have to stay, remove them from the house for showings and put away their dishes, towels, and toys.

Here are a couple of great resources regarding foreclosures. If you are a buyer interested in foreclosures or bank-owned properties, make sure to visit our page: Buying Foreclosure Properties in Oregon, written by REALTOR® Gary Eckdahl.

Timeline of a Foreclosure

Foreclosure Terms

Important Foreclosure Terms

ASSIGNMENT OF DEED OF TRUST: A document that transfers the lender’s (beneficiary’s) interest in a deed of trust.

BANKRUPTCY: A legal process that allows a debtor to discharge certain debts without paying the total amount due.

BENEFICIARY: The lender or person to who the obligation is owed.

BIDDING INSTRUCTIONS: An authorization form signed by the beneficiary authorizing the trustee to make the initial opening bid at a trustee’s sale and subsequent bids.

DECLARATION OF DEFAULT: A document signed by the beneficiary instructing the trustee to prepare the Notice of

Default should the borrower not bring the loan current, to sell the property, encumbered by the loan, in order to satisfy the unpaid debt. This document is not recorded.

DEED OF TRUST: A written document describing the real property being given as security for an obligation.

EXTENSION AGREEMENT: An agreement that extends the due date of a note.

FORECLOSURE: Enforcing a lender’s rights upon the default of an obligation that is secured by a deed of trust. A deed of trust must contain a power of sale clause to enable the trustee to initiate a non-juridical foreclosure.

FULL RECONVEYANCE: A document prepared by the trustee or substituted trustee, when the obligation secured by the deed of trust is paid in full. When recorded, the re-conveyance takes the deed of trust off record.

NOTICE OF DEFAULT: A written document that is recorded, published, and posted given notice of public record that a borrower has failed to perform his or her obligation under the terms of the promissory note. This document is recorded.

NOTICE OF TRUSTEE’S SALE: A document that is recorded, published, posted, and mailed and sets forth the date, time, and location of the trustee’s sale.

POSTPONEMENT: A verbal announcement made at the time and location of a trustee’s sale, extending the sale to a future date.

PUBLICATION PHASE: The period of time beginning after the third month starting on the date that the Notice of Default records. This period ends with the trustee’s sale being conducted. The trustee sees that the document is recorded, published and mailed in accordance with the requirements of the civil code.

RECISSION OF NOTICE OF DEFAULT: After the default has been brought current or by the request of the beneficiary, this document when signed by the lender and recorded by the trustee, will remove the Notice of Default from record.

REINSTATEMENT PERIOD: The time period between the time that the Notice of Default records and ends 5 business days before the trustee’s sale. The lender must allow reinstatement during this period of time. A lender may elect to allow reinstatement after the 5-day period ends, but before the trustee’s sale.

SUBSTITUTION OF TRUSTEE: A document signed by the lender and recorded by the trustee whereby the beneficiary appoints a successor trustee to the trustee of record.

TRUSTEE: The party who holds title to real property in trust for the benefit of another. The trustee’s most common functions are to process a full (when a loan is paid off) or partial (when a portion of the property is being released) re-conveyance and to process a trustee’s sale.

TRUSTOR: The borrower or owner at the time the deed of trust is created.

TRUSTEE’S DEED UPON SALE: A document signed and recorded by the trustee that transfers ownership of the real property to the purchaser at a trustee’s sale.

TRUSTEE’S SALE: A public auction sale of a property described in a Notice of Trustee’s Sale, which property was given as security for the repayment of an obligation.

Many thanks to Western Title & Escrow in McMinnville, Oregon for providing these terrific resources!

Randy McCreith, Principal Broker

How to Listen to Bad News

There is a lot of bad news about the housing industry and the economy right now, and has been for the last 3 years. Ignoring it or hiding from it is of no benefit to anyone. However, there are serious flaws with the delivery of it, the interpretation of it, and the application of it that need to be addressed. Here is what I have learned:

• ·      The Usual Suspects: Almost all of the news about the housing market is about a few, and the worst markets in the nation. Florida’s housing market, after a great run tanked many years ago because of numerous hurricanes and has remained decimated to this date. Most of the large housing markets in California are legendary for their regular wild, roller coaster swings. Ridiculous and irrational high prices are followed by gut-wrenching correctional lows, and this cycle has gone on for decades. Las Vegas was the speculation capital of the nation, and when the music stopped, there were a great many empty houses and defaulting owners who should have remained renters. Phoenix, the younger sister of Las Vegas, has imitated her sibling on a slightly smaller scale. The mind-boggling volatility in these markets makes them the fodder of much discussion and the source of most news stories. Notice also that these markets are all in the Sunbelt.

• ·      Ubiquitous Bad News: There is always a down economy somewhere and wherever it is the reporters will soon be on hand to floodlight it for the rest of us. When oil and gas are flying high, so are the housing markets in Colorado, Texas, and Oklahoma; but when not, their whole economy struggles, including the housing market. That is when we hear about them. Manufacturing areas, for example Michigan and Ohio, currently have problems with in an increasingly global economy and so their markets are down. They get a lot of attention, especially in election years. Good markets rarely make the news except as a minor statistic in someone’s list ranking all the bad news areas.

• ·      “If it bleeds, it leads”. The news media by nature is part of the sales and entertainment industries. They must sell advertising and subscriptions or they have no business viability. They also must attract and retain a great many eyes or they are out of business. They also must cut costs and consolidate functions to stay on top like any other commercial enterprise.

To do so they need the shocking headlines, and the graphic pictures, and unbelievable stories. It is not a well-hidden fact that news stories for TV are often selected because of the most graphic and sensational video. Additionally, fear has always sold best. Stories of impending threats and imminent danger are the most powerful at capturing and retaining the public. Think about 911 and how everyone spent all available time watching the news. If the public’s attention is fixed, then the value of advertising is greater and demand for services is higher. Nothing is more powerful than people all across the nation standing around water coolers talking about the latest news which we should be worried about.

• ·      The Badness about Bigness: Although ‘bigness’ in anything has some pronounced benefits, rarely are the benefits quality, or attention to detail. Think about the big box stores for home improvement. We love the fact that they have just about everything, except enough competent sales associates! Massive media conglomerations produce generic, pre-digested news, usually with a national and international focus. The wire services collect news stories, synthesize them, summarize them, and feed them, almost as sound bites, to all the local markets to keep their news machines churning.  National media companies buy out most of the local outlets and push their news downstream to be disseminated at the local level as if these stories represent the reality everywhere. Don’t believe it!

• ·      Journalism is Anemic if not diseased. Were there really days when journalists researched stories in depth with a critical eye? Were there times when journalists became acutely knowledgeable about specific industries and well-versed in local conditions? Has there truly been a time when information was delivered to us without editorial bias and sensational hooks?

If so, these are bygone days. Today, the media seems to have more of a vision for social engineering and political change than for disseminating objective, unbiased truth. If they are not in the pockets of politicians or commercial interests then they are serving some philosophical ideal which will produce human utopian. I just want the news! That is the data and facts in an accurate context. Given that, then we can pursue solutions through critical thinking as people vie to understand the reality and which solutions are most reasonable.

• ·      What Year is it anyway? To listen to the news today you would think we are in The Second Great American Depression. The truth is that we have almost nothing in common with the Great Depression of 1929 and this it is an outrageous claim that our time is similar. We can scarcely compare our situation with the late 1970s and early 1980s when mortgage interest rates were 21%, unemployment nationally was almost 13% and inflation hit a high of 13.5%. Does anyone remember the Savings and Loan crisis of the late 80s’? That has more in common with the current banking troubles than the depression (more on this silly comparison at a later time).

The reality of the housing industry is that almost all detailed comparisons locally tend to go to back to 2003, or a couple of years in the early 1990’s. Among the usual suspect areas it is worse, but by no means the depression. Our current valuations are still up almost 50% in last five years and we have just reached the levels of only two years ago even though we have been hit with a sub-prime crisis, unprecedented oil prices, a meltdown of the financial sector, and a deep recession with increasing job losses. I am not saying it cannot get worse but it has a very long way to go to match what some of our grandparents lived through.

• ·      Is Everyone in Foreclosure? In high speculation areas even in Oregon, like Bend and Happy Valley in Clackamas, there are too many foreclosures. Developers and Builders, who were trying to keep up with an expanding market, also got hit very hard and many have been forced into Chapter 11 Bankruptcy to renegotiate debt. But what about the local market? We have very few foreclosed upon homes which are bank owned (REO). This is growing not because of so much corruption or excess in our area but because sales were paralyzed, time and recession has drained us, and job loss cripples more and more people.

What you are not being told is that ‘foreclosure’ as used in the media includes everyone who is over 30 days late on their mortgage payment. Technically they are in default and on the road to the auctioning their property for missed payments and penalties. Most people correct the deficiency in the 6 month process to auction, and many others sell the home to satisfy the debt. Very few end up on the auction block. What about ALL the notices in the newspaper? They are required to print public notice 4 times before they can conclude the foreclosure process so they really represent 25% of those in trouble, some of these will never end up in auction. In February of 2009, Yamhill County still had a foreclosure rate of just over 1%; less than the normal national average. However, our rate of foreclosure had skyrocketed! From few to a few more. Statistics lie, when someone wants to use them for ‘shock and awe’.

There is hope and help. The internet, although the greatest tool for mis-information in the history of the human race, offers you the ability to go wherever you want, and drill deep into any industry you want, to find in-depth, critical analysis, of news from a variety of sources.

For housing you can relatively easily research the local markets. Do not look to the news outlets. Look to the industry professionals. Listen to people on the street who live in this industry day to day and year to year. Every industry has its gurus who study history and current conditions; that eclectically, but critically, learn from those who lead the industry.

Consider the source and then ask your local Bella Casa Realtor®, mortgage broker, title company, and local bankers for the reality. The news media moguls, they never come here except to tour wineries!

Article by John Riha
HouseLogic.com

Regular home maintenance is key to preserving the value of your house and property.

“It’s the little things that tend to trip up people,” says Frank Lesh, former president of theAmerican Society of Home Inspectors and owner of Home Sweet Home Inspection Co. in Chicago. “Some cracked caulk around the windows, or maybe a furnace filter that hasn’t been changed in awhile. It may not seem like much, but behind that caulk, water could get into your sheathing, causing mold and rot. Before you know it, you’re looking at a $5,000 repair that could have been prevented by a $4 tube of caulk and a half hour of your time.”

Maintenance affects property value

Outright damage to your house is just one of the consequences of neglected maintenance. Without regular upkeep, overall property values are affected.

“If a house is in worn condition and shows a lack of preventative maintenance, the property could easily lose 10% of its appraised value,” says Mack Strickland, a professional appraiser and real estate agent in Chester, Va. “That could translate into a $15,000 or $20,000 adjustment.”

In addition, a house with chipped, fading paint, sagging gutters, and worn carpeting faces an uphill battle when it comes time to sell. Not only is it at a disadvantage in comparison with other similar homes that might be for sale in the neighborhood, but a shaggy appearance is bound to turn off prospective buyers and depress the selling price.

“It’s simple marketing principles,” says Strickland. “First impressions mean a lot to price support.”

Prolonging economic age

To a professional appraiser, diligent maintenance doesn’t translate into higher property valuations the way that improvements, upgrades, and appreciation all increase a home’s worth. But good maintenance does affect an appraiser’s estimate of a property’s economic age—the number of years that a house is expected to survive.

Economic age is a key factor in helping appraisers determine depreciation—the rate at which a house is losing value. A well-maintained house with a long, healthy economic age depreciates at a much slower rate than a poorly maintained house, helping to preserve value.

Estimating the value of maintenance

Although professional appraisers don’t assign a positive value to home maintenance, there are indications that maintenance is not just about preventing little problems from becoming larger. A study by researchers at the University of Connecticut and Syracuse University suggests that maintenance actually increases the value of a house by about 1% each year, meaning that getting off the couch and heading outside with a caulking gun is more than simply a chore—it actually makes money.

“It’s like going to the gym,” says Dr. John P. Harding, Professor of Finance & Real Estate at UConn’s School of Business and an author of the study. “You have to put in the effort to see the results. In that respect, people and houses are somewhat similar—the older (they are), the more work is needed.”

Harding notes that the 1% gain in valuation usually is offset by the ongoing cost of maintenance. “Simply put,” he says, “maintenance costs money, so it’s probably best to say that the net effect of regular maintenance is to slow the rate of depreciation.”

How much does maintenance cost?

How much money is required for annual maintenance varies. Some years, routine tasks, such as cleaning gutters and changing furnace filters, are all that’s needed, and your total expenditures may be a few hundred dollars. Other years may include major replacements, such as a new roof, at a cost of $10,000 or more.

Over time, annual maintenance costs average more than $3,300, according to data from the U.S. Census. Various lending institutions, such as Directors Credit Union andLendingTree.com, agree, placing maintenance costs at 1% to 3% of initial house price. That means owners of a $200,000 house should plan to budget $2,000 to $6,000 per year for ongoing upkeep and replacements.

Proactive maintenance strategies

Knowing these average costs can help homeowners be prepared, says Melanie McLane, a professional appraiser and real estate agent in Williamsport, Pa. “It’s called reserve for replacements,” says McLane. “Commercial real estate investors use it to make sure they have enough cash on hand for replacing systems and materials.”

McLane suggests a similar strategy for homeowners, setting aside a cash reserve that’s used strictly for home repair and maintenance. That way, routine upkeep is a snap and any significant replacements won’t blindside the family budget. McLane’s other strategies include:

Play offense, not defense. Proactive maintenance is key to preventing small problems from becoming big issues. Take the initiative with regular inspections. Create and faithfully follow a maintenance schedule. If you’re unsure of what needs to be done, a $200 to $300 visit from a professional inspector can be invaluable in pointing out quick fixes and potential problems.

Plan a room-per-year redo. “Pick a different room every year and go through it, fixing and improving as you go,” says McLane. “That helps keep maintenance fun and interesting.”

Keep track. “Having a notebook of all your maintenance and upgrades, along with receipts, is a powerful tool when it comes to sell your home,” advises McLane. “It gets rid of any doubts for the buyer, and it says you are a meticulous, caring homeowner.” A maintenance record also proves repairs and replacements for systems, such as wiring and plumbing, which might not be readily apparent.

John Riha has written six books on home improvement and hundreds of articles on home-related topics. He’s been a residential builder, the editorial director of the Black & Decker Home Improvement Library, and the executive editor of Better Homes and Gardens magazine. His standard 1968 suburban house has been an ongoing source of maintenance experience.

Whether you’ve just bought your new home or you’re getting ready to sell, do not neglect your landscaping.  Beautiful gardens and well maintained landscapes not only add value to your property, they bring peace and tranquility and joy to your home.  It’s springtime, and time to get your gardens weeded and flowers planted!

Jeanie Taylor is a professional garden consultant right here in Yamhill County.  The following short bio is from Jeanie, and you can also find out more about Jeanie at her website TaylorGardensNW.com.

“I like to work with homeowners personally to answer their questions and help them in their gardens. This is also known as garden coaching – like a personal trainer, but for gardening! My emphasis is on personal service and connecting with the client.

For a new homeowner, this might mean identifying what they have and giving them an “owners manual” on how to take good care of their landscape assets. If they want to change things around, I can work with them. I also do maintenance and renovation on an hourly or project basis. If they need extensive or specialized work, I can talk to contractors with them and help them get bids.

For sellers, I can look at the most efficient and cost-saving ways to make their landscape look attractive and appealing within their budget; again, working with them, doing the work myself, or helping them talk to service providers.

The work I do myself includes “fine gardening” tasks such as basic pruning, plant selection and installation, weeding, soil amendments, mulching, and advice on small scale design. I help homeowners talk to specialists for hardscape, landscape construction, irrigation, water features, large pruning jobs and tree work, or large and complete redesigns.

I divide my time between Seattle and Sheridan. I have been working on an oak woodland and savanna restoration project with the Yamhill Conservation District since 2005. I have a blog about that project at gophervalleyjrnl.wordpress.com.”

If you’ve just bought your dream home, get in touch with Jeanie today to transform your garden and yard into your own private park.  If you’re selling your home, get in touch with Jeanie to ensure that the state of your yard isn’t the deterrant in a potential sale!

Jeanie Taylor
Taylor Gardens
jtaylorgardening@gmail.com

Article by Susan Jensen Smith
www.YourHomeOnlyBetter.com
Published January 20, 2009

It’s that time of year again – if you’re thinking about putting your house on the market, get ready for a bit of incovenient living. But the payoff is well worth any inconvenience. Once you get your home sale-ready, you need an efficient action plan to accomodate the not-always-convenient showings of your beloved home.

You know how it goes…you get a call from your realtor that a potential buyer wants to see your house…in 30 minutes! So you have to pick up the house, load up your kids (and pets), hop in the car and try to find something meaningful to do for an hour or so.

How you live in your home is quite different than how you sell it. Assuming you’ve already followed your Professional Home Stager’s instructions, you’re a step ahead in preparing for show time. After all, you want to make sure it shows at its best when the curtains come up! Here are some helpful checklists to prepare your staged home for show time in 30 minutes or less.

Safety

• Hide liftables – wallets, mail, jewelry, small electronics, passwords, financial statements, etc. Most people are honest, but it helps if you remove the temptation.
• Don’t light candles (fire hazard and looks like you’re trying too hard).

Lighting

• Turn on lights and open all curtains – yes, even in the daytime.
• Make sure windows are clean.

Pick Up

• Toys, clothes, papers, general clutter.
• If worse comes to worse, grab a large garbage bag and stuff everything in it and take it with you. You can put everything away when you get home.

Kitchen

• Wipe down counters – keep disposable wipes by each counter area to make it quick and easy.
• Make sure the sink shines! There is nothing more disgusting than a dirty sink.
• Empty the trash – even if it’s not full yet.
• Countertops – opt for single large accessory rather than a group of small things – doesn’t have to be out all the time, but “places everyone” applies.

Bedrooms

• Make all beds, and arrange decorative pillows per your stager’s instructions.

Bathrooms

• ALL toiletries hidden (keep daily use items in a handy cubby that can be stashed under the sink)
• TOILET SEATS DOWN
• Put your towels in the dryer & bring out “show towels”
• Wipe down counters and mirror
• Sniff test –air freshener if needed
• Empty the trash

Pets & Kids

• Don’t even think about leaving the pets behind!
• Keep the car pre-stocked with snacks, water, games, dog leash, picnic blanket, diapers (if needed), and extra changes of clothes (you never know).
• Make up “car games” such as “left, right, or straight” – a game where each kid gets a turn picking which way you turn. Whenever you find someplace interesting, stop and have a car party.
• Have a list of fun places you can visit, such as a pet store, local park, library, etc.

Ambiance

• Music – Play some classical or jazz music softly to add ambiance and minimize eerie silence.
• Concession Stand – Candy Bowl – put out some wrapped candy.
• Check Thermostats – make sure it’s set at a comfortable temperature.

It’s show time…break a leg!

Competitively Pricing Your Home is Key for a Quick Sale

Randy McCreith, Principal Broker

In real estate we have a large tool box of strategies, proven methods, creative ideas, and new technologies we can add to our diligent (now even excessive) labor to get our properties sold. For years now, we have pulled them all out and fully exploited them for our clients, and experimented with a storm of new ideas.  Wow! Even these have left us wanting. So also for our clients…

Since the turn of the market in 2007, sellers, who could be as demanding and inflexible as they wanted for so long, have had to face new realities. The buyer’s market and the radically reduced demand has awakened them to a world of price reductions, prepping their properties for selling, completing projects and repairs, de-cluttering, depersonalizing and staging their castles, and maintaining their homes at standards they did not even live at in order to attract an offer. Sellers now are highly competitive and need thick skin because buyers are  brutal.

Four years into this mess, we can say with certainty that all the glitter is gone and one thing reigns supreme in our marketplace- PRICING.

Values are dictated by tsunamis of distressed sales. These include the desperate, those in default, short sales, and REOs which are foreclosed or ‘bank-owned’ properties. They not only reduce values but have become common comparables for appraisers. Additionally, buyers must ‘buy well’ so that they do not find themselves upside down on their mortgages soon after their purchase. We have also been stripped of our infatuation with dream properties and reckless spending because ‘we want it’ and can afford it. We think more today about survival, good investments, and functionality. No one wants to go through a similar cycle in the future as unprepared as we were for this one.

Today buyers are looking for, finding, and selecting the really good deals. Trust my chastened thinking here, those who price competitively and aggressively get to move, the rest stay put. In a market of low demand where 20% of the active comparable properties will sell this year, you have to be in that 20%, and do all the other things at the top of this article, to be successful.

It is that simple to be sure, and yet it is more complex than I can put in a short article. We will be glad to have this conversation with you anytime if you are on the market, or contemplating a sale.

Best regards,

Randy

Randy McCreith, Principal Broker
Bella Casa Real Estate Group
Cell: 503-310-9147 Fax: 866-281-6653
Randy@TheBellaCasaGroup.com

McMinnville (19th & Hwy 99)           Newberg (College & Hwy 99)
207 NE 19th Street, Suite 100               700 E 1^st Street, Suite 100
McMinnville OR 97128                          Newberg OR 97132
503-437-9005                                           503-538-2085

Buy. Sell. Be Happy.

These six signs may be telling you it’s time to lower your price.

1. You’re drawing few lookers

You get the most interest in your home right after you put it on the market because buyers want to catch a great new home before anybody else takes it. If your real estate agent reports there have been fewer buyers calling about and asking to tour your home than there have been for other homes in your area, that may be a sign buyers think it’s overpriced and are waiting for the price to fall before viewing it.

2. You’re drawing lots of lookers but have no offers

If you’ve had 30 sets of potential buyers come through your home and not a single one has made an offer, something is off. What are other agents telling your agent about your home? An overly high price may be discouraging buyers from making an offer.

3. Your home’s been on the market longer than similar homes

Ask your real estate agent about the average number of days it takes to sell a home in your market. If the answer is 30 and you’re pushing 45, your price may be affecting buyer interest. When a home sits on the market, buyers can begin to wonder if there’s something wrong with it, which can delay a sale even further. At least consider lowering your asking price.

4. You have a deadline

If you’ve got to sell soon because of a job transfer or you’ve already purchased another home, it may be necessary to generate buyer interest by dropping your price so your home is a little lower priced than comparable homes in your area. Remember: It’s not how much money you need that determines the sale price of your home, it’s how much money a buyer is willing to spend.

5. You can’t make upgrades

Maybe you’re plum out of cash and don’t have the funds to put fresh paint on the walls, clean the carpets, and add curb appeal. But the feedback your agent is reporting from buyers is that your home isn’t as well-appointed as similarly priced homes. When your home has been on the market longer than comparable homes in better condition, it’s time to accept that buyers expect to pay less for a home that doesn’t show as well as others.

6. The competition has changed

If weeks go by with no offers, continue to check out the competition. What have comparable homes sold for and what’s still on the market? What new listings have been added since you listed your home for sale? If comparable home sales or new listings show your price is too steep, consider a price reduction.

Here are five great ideas for investing a tax refund in your home if you receive $500 or less back from the IRS this year.

1. Go with the low flow

If you’re tired of watching money go down the drain, invest in the latest low-flow showerheads. Old showerheads (pre-1992) can pump out 5 gallons of water per minute. Newer showerheads, while more efficient, still use 2.5 gallons per minute. But the latest low-flow showerheads use up to 50% less water than even the newer showerheads, yet technological innovations make it seem as if you’re bathing under the same amount of water.

The latest low-flow showerheads run between $50 and $200 apiece, but the payback can be quick. Swapping out old showerheads can reduce your home’s water-heating costs by about $150 a year. If your showerheads are already updated, but you’re still looking for ways to save on water, install a low-flow toilet. One of these efficient flushers can shave $90 off your annual water bill.

2. When it rains, it pours

Homeowners insurance is critical, but it’s not comprehensive. Most policies offer limited liability protection that could prove inadequate if someone gets hurt on your property and you get sued. Umbrella insurance offers liability protection beyond the limits of your homeowners policy. An extra $1 million in umbrella liability coverage, which extends to your cars, too, typically costs about $300.

If your liability insurance is sufficient, then consider flood insurance instead. Floods can affect homes in all 50 states, yet fewer than 1 in 5 homeowners have flood insurance. Typical homeowners policies exclude floods. The average flood policy costs $540, according to the National Flood Insurance Program; the average flood claim totals more than $33,000.

3. A model of energy efficiency

A typical homeowner spends an extra $350 a year on heating and cooling due to air leaks. Gaps, even small ones, around doors, windows, and recessed lights waste energy and raise utility bills. You can conduct your own energy audit and try to seal air leaks yourself, but the result will vary wildly depending on your DIY skills.

A better option might be a professional energy audit, which can cost between $400 and $600 for a full diagnostic inspection. Expect the use of sophisticated equipment like thermal or infrared scanners, blower door testers, and smoke puffers that can pinpoint energy leaks. A visual-only inspection by a pro costs less–about $150–but the findings won’t be as accurate.

4. Lightning only needs to strike once

A power surge, whether caused by a lightning strike or some other fluctuation in your supply of electricity, can wreak havoc on home electronics. Thousands of dollars’ worth of computers, appliances, and entertainment equipment can get fried in the blink of an eye. If you’re lucky, perhaps some of your electronics are plugged in to surge protector power strips. Most probably aren’t.

Although homeowners insurance offers peace of mind that your possessions will get replaced, a smart way to prevent damage in the first place–and avoid the hassle of filing claims and paying deductibles–is investing in a whole-house surge protector. For about $300, an electrician can install the device at your breaker box. It only takes an hour or two. Keep surge protector power strips in place for an added layer of safety.

5. Roll out the rain barrel

Why pay for water when nature supplies it free of charge? The typical homeowner spends about $140 annually on water used outdoors. Meanwhile, an inch of rain dumped on the roof of a 2,000-square-foot house produces 500 gallons of runoff. It makes sense to harvest that rainwater to nourish plants and rinse off patio furniture. Enter the rain barrel.

A rain barrel is much like it sounds: A large container hooked into a downspout that stores rainwater for later outdoor use. A basic commercial rain barrel can cost as little as $50; a more sophisticated system with multiple barrels, pumps, and spigots can run as much as $600. The U.S. Environmental Protection Agency estimates that a rain barrel can save 1,300 gallons of water during peak summer months.

Mike DeSenne is the money and work editor with AARP.org and a former executive editor of SmartMoney.com. He likes to do his taxes by hand, much to the dismay of his accountant.