If your home is on the market, you have probably already taken great care in cleaning the interior and making necessary renovations that could help attract prospective buyers. However, before your home is shown to any buyers or agents, you should consider performing a few tasks to help protect your privacy. Not only should you try to remove personal items from tabletops or counters, but it is also wise to remember that potential buyers will open closets, cabinets and built-in drawers as they assess the property. To protect your privacy and prevent prospective buyers from forming any biases against you, you may want to follow these simple steps before showing your home.  

1. Hide your mail 

When dealing with your mail, you should either remove it from your home or place it where it cannot be found. If prospective homebuyers spot collection notices or excessive credit card bills in plain sight, they might immediately assume that you are in debt and need to sell your home quickly. Furthermore, as no one wants strangers to read any of their personal materials, you should try to conceal all of your mail, down to the last furniture catalog. 

2. Take down photos and diplomas 

While some home sellers feel that such personal documents could add an atmosphere of coziness to their property, you may want to consider clearing the walls. Following this simple step could help prevent any type of bias from prospective homebuyers. For instance, home sellers with recent diplomas might be perceived as deep in debt and willing to sell at any price. Likewise, wedding photos can reveal the homeowner's religion, which could influence certain buyers. Remember, you'll be moving anyway so it's time to start backing. 

Read more tips for your privacy next week. 

 

HomeOverseas recently reported that "property sales in the Cayman Islands hit an all-time recorded low of just 1,691 homes in 2008, according to a report in the Caymanian Compass national newspaper. 

"The data from the Cayman Islands property transfer records also revealed that the annual volume of transfers fell for the third successive year. The drop in 2008 was 5% from the 1,786 transfers in 2007. The all-time high of 2,640 was recorded in 2005. 

"The total value of properties transferred in 2008 also dipped year-on-year. 

"Asked whether the market had seen the worst, the department's Senior Valuations Officer Uche Obi said: 'I wouldn't think so. If anything, transfers and prices are continuing to drop. That's why we needed the stamp-duty cut.'

The real estate market has always been cyclical. Bad markets for sellers create buyer opportunities. Contact our Coldwell Banker agents to discuss options and the effects of the recently-announced government purchaser incentives. 

(source: HomeOverseas) 

 

You never know who will find and publicize a local place, especially with our tourist trade here in the Caymans. Well, today Boston.com posted a blog on Roland's Garden, saying "one of the most unusual restaurants you will ever visit. It has no menu, no set prices, no alcohol (bringing your own is allowed), no roof, and no walls. And the food is terrific." 

You assume the blogger, Julie Hatfield, was visiting the Islands, and we certainly appreciate the great publicity. Here's a little more from her post, which you can read in its entirety at Boston.com: "Schoefer serves up delicious German-style, five-course dinners on his large garden grill. As he says, "Whatever I cook that's what you get." We had a chilled herring appetizer, perfectly grilled veal schnitzel, spitzle, and an apple cobbler. There are only five tables, so reservations are strongly encouraged, as there is always a waiting list." 

Thanks, Julie. 

Roland's Garden, Grand Cayman, Cayman Islands, 345-926-7670, www.chefroland.com. 

 

There is much information that points to the benefits to buying an older home. Older homes generally have lower purchase prices relative to newer houses. They tend to be located in established neighborhoods with an existing history of schools, transportation and commercial center offerings. Older houses have mature landscaping and period-style architecture and craftsmanship. If this type of home-buying information is important to you, you may want to consider an older house. Still, older homes come with their own set of issues. In order to make the best home-buying decision, here are five information topics you may want to discuss with your real estate agent. 

1) Structural Issues 
The structural condition of older homes can vary greatly. It if has been maintained, the structure of an older house will likely reflect the quality craftsmanship of earlier times and will only need minor repairs, reinforcement or maintenance. More recent additions may have been built to a lower standard than the original home, and can need major repairs or renovations. If the original building has not been well maintained, you may be in for a serious structural overhaul. Neglected crawlspaces can have foundation and floor structure defects. Continuous water intrusion or past fires could have damaged structural areas that are now concealed. Be sure your home inspector investigates the structure of an older house thoroughly. 

2) What is Involved with Remodeling 
Many people purchase an older home with the intention of remodeling it in order to make the house more comfortable and raise the home value. Like many equations in life, the decision to remodel an older home boils down to time or money. If you decide to spend more of your time and less of your money, you'll need to be handy and have your weekends free of other commitments for several months. If you prefer to save your time, but spend more money, your real estate agent can refer you to a contractor who specializes in raising house value by remodeling older homes. 

3) Zoning and Use Issues 
Before you purchase an older house with the intention of remodeling and raising the home value, be sure to investigate the zoning and use regulations. Many older homes come with restrictions, including pre-determined setbacks from property lines, limits on roof height, etc. If the home is on a municipal historic register, regulations will likely be even more stringent in order to preserve the house's historic character. If you're considering alternative uses for your older house, like turning it into a commercial office, building an in-law apartment, etc., be sure to ask your real estate agent about zoning specifics. 

4) Cost of Operations 
Higher repair and maintenance expenses should be factored into the budget when calculating the total cost for purchasing an older home. Renovations, repairs and even pre-purchase inspection costs can be considerably higher than if purchasing a newer house. Also, the lack of modern insulation materials means bigger gas and electric bills in order to heat and power the house. And, major appliances, plumbing and heating systems will likely need maintenance within the first few years of your ownership. 

5) Pests 
In an older home, it's possible that termites and other wood destroying insects could have damaged timbers and structural supports for years before they were detected. It would be highly unusual for a house to survive for 100 years in the tropics without any kind of termite/ant/beetle infestation. It's important to determine whether there are any signs of current infestation, and the extent of the damage of past infestations. If a wood destroying insect has eaten away at the structural support of a house for a significant amount of time before being discovered, you may need to add some reinforcement to the beams and posts in the basement. It is also very important to protect against future infestations. You may want to consider having a pest control company do preventative treatments as well as periodic visual inspections. 

Older homes have character and great potential, but be sure and use the services of an experienced local Realtor to thoroughly investigate the property.