Almost every day, someone calls The Dave Ramsey Show to ask Dave if he thinks they're ready to buy a home. But there's another side of homeownership that doesn't get as much attention: When are you ready to sell your house?

It's an important question to answer since selling at the wrong time can cause trouble for years to come.

1. You've got equity on your side.

For most homeowners, being financially ready to sell your house comes down to one factor: equity. During the housing meltdown of 2008–09, millions of homeowners found themselves with negative equity, which meant they owed more on their homes than they were worth.


Clearly, selling your home when you have negative equity is a bad deal. That's called a short sale. Breaking even on your home sale is better, but it's still not ideal. If you're in either situation, don't sell unless you have to in order to avoid bankruptcy or foreclosure.


For the last several years, home values have been on the rise—by leaps and bounds in many cases—and that means most homeowners are building equity. Their homes are now worth more than they owe on them, and that trend will persist as they pay down their mortgages and home values continue to increase.


Figuring out how much equity you have may sound complicated, but the math is actually simple. Here's how it works:


First, grab your latest mortgage statement and find your current mortgage balance.


Next, you'll need to know your home value. While it's tempting to use figures from online valuation sites to determine how much your home is worth, they're not always accurate. Ask an experienced real estate agent to run a free comparative market analysis (CMA) for the best estimate.


Once you have those two numbers in hand, simply subtract your current mortgage balance from your home's estimated market value. The difference will give you a good idea of how much equity you have to work with.


So how much equity is enough?  At the very least you want to have enough equity to pay off your current mortgage with enough left over to provide a 20% down payment. But if your sale can also cover your closing costs, moving expenses and an even larger down payment—that's even better.  Additionally, putting 20% or more down on a home keeps private mortgage insurance (PMI) at bay. That could save you hundreds of dollars each year!

2. You're out of debt with cash in the bank.

If you didn't have all your financial ducks in a row your first time around the home-buying block, you probably learned a few things the hard way. Like the fact that Murphy can smell "broke" from miles away. If it can go wrong, it will! Put those lessons to good use and be a money-smart home buyer the next go-round!


Start by taking a hard look at your finances. If you've paid off all your nonmortgage debt and have three to six months of expenses in your emergency fund, that's a good sign you're financially mature enough to purchase a home again.

3. You can afford to buy a home that fits your lifestyle better.

Another factor to consider is how well your home meets your everyday needs. Perhaps you could use another bedroom (or even two) to accommodate your growing family. Or maybe your kids have all moved out and you're ready to downsize.  Empty nesters can really benefit from selling while rates are low. It's freeing to sell a large home, pay cash for a smaller one, and invest the rest for your retirement.


Whether you're sizing up or down, make sure your mortgage fits your budget. Dave recommends keeping your monthly payment to 25% or less of your take-home pay on a 15-year fixed-rate mortgage.

4. You can cash-flow the move.

Don't get so carried away by the excitement of your next home that you forget to account for the cost of leaving your current one. Hiring professional movers? Save up cash to cover the cost of packing up and hauling your stuff away.


You should also invest a little to get your current place ready for prime time. Focus your home improvement dollars on paint, curb appeal, plus kitchen and bath upgrades.  A little bit of fresh paint and elbow grease can go a long way into making a great impression—and getting your home sold fast!


Want a bonus tip that doesn't cost a dime? Clear out the clutter. Neat closets and tidy shelves make your home look larger!


5. You're emotionally ready to sell.

If the numbers show you're financially ready to make a move, great! But don't forget—selling your home is an emotional issue, too. Before you plant the "For Sale" sign in the front yard, take a minute to answer just a few more questions:

  • Are you ready to put in the work to get your house ready for house hunters?
  • Are you committed to keeping it ready to show for weeks or months?
  • Are you ready to hear the reasons why potential buyers believe your home is not perfect?
  • Are you ready for honest—and sometimes hardball—negotiations over what buyers are willing to pay for your home?
  • Are you really ready to move out and leave the place where your family has made memories?

Don't get us wrong; we're not trying to talk you out of selling your home! We just want you to be completely ready when you do decide to move on to the next stage of your family's life.


A qualified real estate agent will give you a clear picture of what it's like to sell your house, and also help you discern if now is the right time for you, both financially and emotionally.

6. You Understand the Market (a Little Bit)

No one can predict how the housing market will perform. But the National Association of Realtors expects modest growth for existing homes in 2018. Despite the possibility of rising mortgage rates, home sales in 2018 are forecasted to grow around 7% percent, with the median price increasing 5%.

Home Values Are Riding High

With rents up and mortgage rates down, many renters are looking to buy their first home. There's just one problem: They're having trouble finding homes for sale within their price range.

According to Trulia, there are 20% fewer entry-level homes on the market today than there were this time last year. A lot of investors snatched up bargains on entry-level homes when the market was down and turned them into rental properties. 

If you took economics in school, you learned all about supply and demand. When supply is down and demand goes up, prices trend upwards as well. That means your home might be worth more than you think. Consider the numbers:

  • According to the National Realtors Association, U.S. homes are on the market an average of only 34 days, that's four less than last year.
  • Recent listings of starter homes are 8% less than searches, which means there are more house hunters than homes available for sale.

In other words, the market's hot for just about any home seller—but especially if you've got a starter home to sell.

7. You Have a Real Estate Agent

The reasons already mentioned are essential to consider before selling your home this year. But remember, your real estate market is unique—and so is your financial situation. Consult an experienced real estate agent to find out how the 2018 housing market is shaping up in your area so you can decide if a sale makes financial sense for your family.

Partner with a pro you can trust to provide honest advice so you can do what's best for you and your budget. A good agent puts service before sales—but knows how to get things done when it's time to sell.


Selling your home is a big deal.  A real estate agent does more than just schedule showings of your home.  They bring experience and confidence to the table when they handle their many job duties, which include:

  • Giving you advice about updates or repairs that will make your home more attractive
  • Helping you set a price for your home
  • Marketing your home so it receives as much exposure to potential buyers as possible
  • Scheduling showings with potential buyers
  • Advising you as you negotiate offers
  • Handling all the required paperwork

We can put you in touch with several agents in your area who have earned Dave's recommendation as a real estate Endorsed Local Provider (ELP).


When it comes to selling homes, our ELPs rise to the top. According to a six-month survey of home buyers and sellers who used an ELP versus those who used other real estate agents, our ELPs are twice as fast at selling homes and twice as likely to sell your home above asking price.

Don't trust an amateur with one of your biggest financial investments. Work with a high-octane agent who knows your market


An experienced real estate agent can help you navigate the search for your next home, too.  Be sure to have some backup options ready in case your home sells quickly and you can't find a new place you love right away. You don't want to rush into a home you can't afford or don't really like just because it's available. 



Source: Dave Ramsey 

Read full post

Real estate agents estimate that at least 20% of their sales results from an open house. If your property is presentable—that is, spotless from top to bottom—priced correctly, and located in a high-traffic area, you're well on your way to a successful showing. Attention to additional details in preparation and execution will increase the odds of a good offer—perhaps, even on the spot.

 

Advertise the Open House

Let people know the party's on. Post internet listings everywhere: Write colorful, descriptive ads and place them in web classifieds or open house directories at least a week before the showing. Don't forget personal social media, like your Facebook page or Twitter account. Although advertising online is key, remember old-fashioned methods, too, like an ad in a community newspaper or newsletter, or even postings on a popular store or coffee shop bulletin board.

 

On the day of the open house (traditionally a Sunday), set up strategically mapped signs around the neighborhood, placing one every few blocks on the way to your house from major streets. Find the busiest intersection closest to your home and put an open house sign at that corner, too. Attach strings of balloons to each open house sign, and include big arrows pointing in the right direction.

 

Prepare the Premises for the Open House

In addition to cleaning and decluttering your house and making it camera-ready before you even put it on the market, you can make some special preparations for the open house itself:

 
  • Remove all vehicles from the driveway. Ask your neighbors to help out by not parking in front of your house.
  • Let in the light: Open all the drapes, blinds, and window coverings. Turn on every lamp and overhead fixture, too.
  • Serve refreshments and snacks or, if budget permits, even a catered lunch.
  • Do not, under any circumstances, use an air freshener: Many people are allergic to synthetic odors.
  • Play soft music throughout the house.
  • Create a bulletin board of seasonal house photographs so that buyers can see what the home would look like during another time of the year. This step is especially helpful for showcasing gardens or extensive grounds during the winter.
 

Put Out the Paperwork

A good open house is not just about ambiance. It gets down to business as well.

 
  • Display four-color flyers filled with quality photos and the key points and unique features of your home—a cheat sheet people can take home.
  • Have brochures and pamphlets available that contain financing options so that buyers can readily determine their monthly mortgage payment. Banks and lenders will often supply you with these.
  • Set out all documents pertaining to the house: inspection reports, appraisal or comps, evidence of major repairs and warranties, blueprints for additions, or proposals for future improvements.
 

Interact With Visitors

Be upbeat and cheery as you greet each person who enters the home. Find out what they're looking for and, if possible, show them why your home fits those requirements.

 

And absolutely, get feedback. Ask buyers what they think of your home and if they would consider buying it. Many folks will demur or be noncommittal, but sometimes they might decide to sit at the kitchen table and write an offer. It happens more often than you would think.

 

At the very least, you might pick up some useful info about the impression your property is making, as well as quick fixes to address problems.

 

Furthermore, if you don't receive an offer at or directly after the open house, that doesn't mean your event was unsuccessful. The buyers might be obtaining a pre-approval letter on Monday and sending you an offer a day or two later.

 

When Not to Hold an Open House

Some properties just aren't suited for an open house. Some common reasons include:

 
  • There's too much inventory to pull in buyers driving through the area.
  • All the homes in the neighborhood look the same.
  • Inclement weather discourages venturing outside.
  • The home is a fixer-upper or doesn't show well because it's either too messy, smelly, or cramped.
  • The property is too far off the beaten path, or perhaps in the center of a complex, that is hard to find (like a condominium).
  • The real estate agent isn't into it.
 

While it may seem odd that an agent would want to restrict market exposure for a listing, not to mention the chance to get buyer leads, many agents are categorically opposed to open houses. They may be too busy with other listings, or they may just find such showings a waste of time and effort. You and your agents should be on the same page about marketing your property. If you feel strongly about an open house—and you're unconvinced by your agent's reasons against it—consider switching your representation.



Source: The Balance

Read full post

Home Improvements: Under $100

Tip 1: Spend an hour with a pro.
Invite a realtor or interior designer over to check out your home. Many realtors will do this as a courtesy, but you will probably have to pay a consultation fee to a designer. Check with several designers in your area; a standard hourly fee is normally less than $100, and in an hour they can give you lots of ideas for needed improvements. Even small suggested improvements, such as paint colors or furniture placement, can go a long way toward improving the look and feel of your home.


Tip 2: Inspect it.
Not every home improvement is cosmetic. Deteriorating roofs, termite infestation or outdated electrical systems — you can't fix it if you don't know it's broken. Hire an inspector to check out the areas of your home that you don't normally see. They may discover hidden problems that could negatively impact your home's value. Small problems (such as a hidden water leak) can become big, expensive problems quickly; the longer you put off repairs, the more expensive those repairs will be.


Tip 3: Paint, paint, paint.
One of the simplest, most cost-effective improvements of all is paint! Freshly painted rooms look clean and updated — and that spells value. When selecting paint colors, keep in mind that neutrals appeal to the greatest number of people, therefore making your home more desirable. On average, a gallon of paint costs around $25, leaving you plenty of money to buy rollers, painter's tape, drop cloths and brushes. So buy a few gallons and get busy!


Tip 4: Find inspiration.
An alternative to hiring a designer is to search for remodeling and decorating inspiration in design-oriented magazines, books, TV shows and websites. Simply tear out or print off the ideas you want to try and start your to-do list. Keep it simple — when remodeling on a tight budget, do-it-yourself projects are best.

Tip 5: Cut energy costs.
The amount of money you spend each month on energy costs may seem like a fixed amount, but many local utility companies provide free energy audits of their customers' homes. They can show you how to maximize the energy efficiency of your home. An energy-efficient home will save you money now, which can be applied to other updates, and is a more valuable and marketable asset in the long run.

Home Improvements: $100-$200

Tip 1: Plant a tree.
If you aren't planning to sell your house today, plan for the future with a landscaping improvement that will mature over time. Plant shade trees — not only will mature trees make your home more desirable but a fully grown, properly placed tree can cut your cooling costs by as much as 40 percent. Mature landscaping is also good for the environment, providing a necessary habitat for wildlife while adding valuable curb appeal to your home.


Tip 2: Low-maintenance landscaping saves you money now, adds value when you sell.
No question that shrubs and colorful plants will add curb appeal to any home, but when shopping at your local garden center, make sure that you "think green." Purchase plants that are native to your region or plants that are drought-tolerant; these require less water and maintenance, which means more savings to you and more green in your wallet.


Tip 3: Add a money-saving luxury.
Speaking of water, here's another way to tap into extra savings; install a water filtration system in your kitchen. Not only do these systems purify your water, they will also lower your grocery bills — no more bottled water. A water filtration system is an inexpensive addition, but it's the sort of small luxury that homebuyers love.


Tip 4: Improve the air quality inside your home.
Air quality isn't just about the conditions outdoors. If you have older carpets in your home, they might be hiding contaminants and allergens. The first step to determine if these need replacing is to hire a professional company to test your indoor air quality. If the results prove that your carpets should be replaced, choose environmentally friendly natural products like tile or laminate floors. Hard-surface floors are much easier to keep clean, don't hold odors, give your home an updated look and, in general, are more appealing to buyers.


Tip 5: Save the popcorn for the movies.

Finally, what's on your ceiling? Few structural elements date a house more than popcorn ceilings. So dedicate a weekend to ditching the dated look and adding dollar signs to the value of your home. This is a project you can tackle yourself. First, visit your local hardware store for a solution to soften the texture, then simply scrape the popcorn away. Removing a popcorn ceiling may not seem like a big change but one of the keys for adding value to your home is to repair, replace or remove anything that could turn buyers away.

Home Improvements: $200-$400

Tip 1: A messy lawn creates a bad first impression.
Overgrown or patchy lawns and outsized bushes will cause your home to stand out — in a bad way. The good news is that taming your jungle is an easy fix. For a few hundred dollars, hire a lawn service company to trim your lawn and shape your hedges. Your curb appeal will go from messy to maintained without blowing your budget.


Tip 2: Cleanliness counts.
The old adage that you only get one shot at a first impression is true. So, make the interior of you home shine from the moment someone walks through the door. For less than $400, hire a cleaning service for a thorough top-to-bottom scrubbing. Even if you clean your home regularly, there are nooks and crannies that you may miss or overlook. Let a cleaning service do the dirty work to really make your home sparkle.


Tip 3: Visually increase your home's square footage.
The size of your home dramatically affects the value, but square footage isn't the only space that counts. Visual space or how large a home feels also counts. The key is to make each room in your house feel larger. Replace heavy closed draperies with vertical blinds or shutters to let light in — a sunny room feels larger and more open. Also, try adding a single large mirror to a room to visually double the space. Finally, clear the clutter. The more clutter, furniture and plain old stuff you have in a room, the more cramped it will feel. For less than $400, add an attractive shelving unit to an underused space and store your clutter out of sight.


Tip 4: Small bathroom updates equal a big return.
Bathroom updates are always a smart move. Even if you can't afford a full remodel, small changes such as replacing dated wallpaper with a faux or textured finish and replacing old lighting will update the room without denting your wallet.


Tip 5: Add new energy-efficient fixtures.
A functional, decorative ceiling fan is a beautiful thing. It provides necessary light and, in warm months, creates a soft breeze reducing the need for expensive air conditioning. But, an outdated, wobbly, loud or broken ceiling fan is a useless eyesore. Replace old fixtures with new ones to make your home more enjoyable for you now and to increase the bottom line should you decide to sell.

Home Improvements: $400-$750

Tip 1: Even small changes in the bathroom equal a big return.
A great room to update for less than $750 is the bathroom. The two rooms that benefit most from even small renovations are the kitchen and bathroom. One cost-effective change — like replacing an outdated vanity, old plumbing and lighting fixtures or adding a new tile floor — will guarantee a lot of bang for your buck and give your bath an updated, modern look.


Tip 2: Any kitchen update equals added value.
The same rule applies in the kitchen. You don't have to start from scratch to create a winning recipe. For maximizing your home's value, kitchen updates are key. Start by swapping out just one item, such as a stained sink or ancient microwave for shiny new stainless models. Even small kitchen updates will add big value to your home.


Tip 3: Replace any worn carpets or area rugs.
Take a look at your home's soft flooring. Are your carpets and area rugs stained or worn? Nothing turns buyers off more than the thought that they will immediately need to replace all of the flooring in a home. Ideally, you may want to replace them all, but if a limited budget puts a snag in that plan, start by replacing the carpet in the room that shows the most wear and tear and replace the others as your finances allow.


Tip 4: Keep up with regular maintenance and repairs.
Walk around your home and make a list of all the little things that are broken or in need of repair. Individually, small repairs might not seem important, but if every room has just one thing wrong, those small things will add up to create the impression that your home has been neglected. If you don't feel comfortable tackling the repairs yourself, hire a handyman for a day and watch your "to do" list disappear. Staying on top of maintenance today eliminates problems down the road should you decide to sell.


Tip 5: Get help with getting organized.
Hire a professional organizer for a day. They will show you how to organize various rooms in your home and teach you tricks for keeping it organized. How does this increase your home's value? Simple — a clutter-free home appears cleaner and larger, which is more attractive to homebuyers and therefore more valuable.

Home Improvements: $750-$1,000

Tip 1: Go tankless.
Upgrade your standard water heater for a tankless model. Most old-fashioned water heaters keep 50 or so gallons of water hot, seven days a week, 24 hours a day, whether you use the water or not. Tankless water heaters heat only the water you need as you need it. Not only will they save you money now, but they're an eco-friendly and cost-effective update that today's homebuyers are looking for.


Tip 2: Upgrade your appliances.
Eighty-six the old-school appliances for sleek new energy-efficient ones. An appliance with an Energy Star label has been certified by the government to use 10-50 percent less energy and water than conventional appliances. Matching stainless appliances will not only look great now, but will make your home shine brighter than the competition should you decide to sell.


Tip 3: Go for the green.
Everyone loves a yard with thick, green grass. For less than $1000, in a weekend's time, you can replace your existing patchy mix of weeds and grass with fresh new sod. You'll be amazed at the difference this one change will make in your home's curb appeal and value.

Home Improvements: $1,000-$1,500

Tip 1: Spruce up your ceilings.
One of a room's most neglected spaces, the ceiling, makes up one-sixth of a room's total area. Updating your home's ceilings will net a lot of bang for the buck while adding architectural interest. First, if you still have popcorn ceilings, hire a contractor to scrape them smooth. To add a sophisticated custom look to a smooth ceiling, install crown molding or box beams for a coffered look. Ceiling millwork, an attractive feature prevalent in older homes, is rarely found in newer construction. Adding small touches like these will help your home stand out from the pack.


Tip 2: Update your home's entrance.
The look of your front door and entrance play heavily into the overall curb appeal of your home. As visitors enter, the front door serves as the transition into your home and is part of their first impression. Entry doors are architectural components that should complement your home's overall design, not detract from it. If your existing front door isn't up to par, head down to your local home improvement store for a more energy-efficient and attractive replacement. Whether you choose a solid wood door or one with decorative stained or cut glass panels, a welcoming entrance will definitely increase your home's bottom line.


Tip 3: Consult a design pro.
If you're unsure of which design style or paint color to use, hire a designer. They'll use discriminating taste and a trained eye to help with making the big decisions. Also, remodeling your home with a cohesive plan in mind makes all of your choices easier and ensures a pulled-together finished look. So, when you get the right mix of time or money, you'll know exactly which project to take on next.

Home Improvements: $1,500-$2,000

Tip 1: Save on air conditioning costs.
Consider installing a whole-house fan. They're a great alternative to air conditioning because they use only one-tenth the electricity of air conditioners, saving you money. Whole-house fans are considered a "green" home improvement, which is a popular selling feature with today's homebuyers. As the cost of electricity continues to skyrocket, green energy alternatives will only gain in popularity.


Tip 2: Brighten up.
A "bright" way to increase the value of your home is to lighten up. Adequate lighting in a home makes a big difference. Not only does a bright, well-lit room feel more cheerful but it also makes spaces feel larger and cleaner. A well-lit room also shows that you have nothing to hide, so should you decide to sell, prospective buyers will feel at ease when touring your home. Hire an electrician to add recessed lights to a dim kitchen or family room or to brighten up a formal dining or living room with elegant sconces. You'll enjoy the bright effect now and your home will feel warmer and more welcoming to homebuyers.


Tip 3: Add the right landscaping and watch your home's value grow.
For less than $2,000, hire a landscape designer to create a plan that will make your home's exterior really shine. For maximum impact, plant mature trees or fast growing varieties; these can be pricy but they will instantly make your home feel more established. As your landscaping grows, so will your home's curb appeal and value.

Home Improvements: $2,000-$3,000

Tip 1: Kitchen or bath remodels are always a safe bet.
Improving your home is a solid investment at any level — but if you have up to three thousand dollars to spend, a great place to start is by upgrading either the kitchen or bath. Either room is a good choice and you don't have to do a complete floor-to-ceiling remodel to reap financial benefits. In fact, modest kitchen or bath updates can be your best bet for a big return, netting, on average, an 80-85 percent return.


Tip 2: Protect your investment.
For most people, their home is their single largest investment, so treat it that way. Hire a financial planner to work out a strategy for protecting your investment by analyzing all of the financing options that are available. A financial whiz can tell you if you should refinance to lower your monthly payments or pull out some equity to pay for value-adding improvements.


Tip 3: Bring the outdoors in.
Consider turning two standard windows into an opening for beautiful French or sliding glass doors. Full-view glass doors really brighten up the space and a light and airy room is always more attractive. Also, with a view of the outdoors, the room will feel much larger. Another bonus is that modern doors are energy-efficient, cutting down on heating and cooling costs. That means more cash in your pocket now and a financial bonus should you decide to sell.

Home Improvements: $3,000-$5,000

Tip 1: Add closet or garage storage.
Realtors agree that top on most homeownes' list of wants is ample storage space. For less than $5,000, consider upgrading your home's storage by adding custom shelving systems to a closet or garage. The first step to really getting organized is de-cluttering. Start by sorting your belongings, then stash them away in your new organized closet or garage to really maximize your home's value.


Tip 2: Green flooring choices equal more green in your wallet.
Worn, tired carpet will not only turn off homebuyers, but it can make you feel worn and tired too. Replace it with the hottest trend in flooring: renewable, environmentally friendly bamboo. Solid-surface floors are easy to keep clean and give your home an upscale look and feel. Green flooring choices, like bamboo, minimally impact the environment and are a big selling point to today's environmentally conscious homebuyers.


Tip 3: Resurface concrete.
Replacing the cracked concrete surfaces around your home can cost a small fortune. But for a fraction of that cost, concrete can be resurfaced in a multitude of colors and finishes. Consider adding a cobblestone finish to your driveway, a brick look to an old walkway or a slate finish around the pool or patio. Whichever texture you choose, it will be a huge improvement over standard concrete and potential homebuyers will really take notice.

Home Improvements: $5,000 and up

Tip 1: Refresh the exterior paint.
The condition of your home's exterior is key to the overall curb appeal, so refresh that facade with a coat of paint. Fresh exterior paint will not only preserve and protect your home's exterior siding — the right paint color can make a dull home dazzling. By the same token, a house painted with an overly bright or overly bland color will make a house less appealing and hurt the value, so choose your colors wisely. Should you decide to put your house on the market and the exterior paint looks bad, a buyer will assume that the interior of the home has been neglected too and drive right past.


Tip 2: Go solar to save some green.
Save energy bill greenbacks by going green with a solar water heater. The installed price can cost up to $5,000, but these systems can slash your hot water bills by as much as 80 percent and attract energy-conscious homebuyers should you decide to sell. Install a solar water heater where there's unobstructed southern exposure and you'll have savings made in the shade.


Tip 3: Kitchen remodels are king.
Hands down, one of the biggest returns on investment comes from a kitchen remodel. Most experts agree that if you plan on updating only one room in your home, it should be the kitchen. Large, open kitchens have become the social hub of the modern home. High-end touches like granite countertops, richly stained custom cabinets and energy-efficient stainless appliances are the gold standard in modern kitchens. Experts agree that kitchen remodels return an average of 80 to 85 percent of every dollar spent. You can expect an even higher return if you are remodeling a really outdated kitchen.


Source: DIY Network

Read full post
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.