Painting your house might look simple — at first glance. Look again.

Before you take on any exterior painting project, it’s important to conduct a thorough examination of your home. Here’s what to look for and how to properly prepare your home for a face-lift.

Banish mildew

Peeling, blistering and chalking are significant indicators of problems with your house paint. Water leaks will show up as discolored areas, often mildew or rot.

The experts at the Paint Quality Institute say mildew can be removed with a solution of one part bleach to three parts water. Apply the mixture to the surface, and let it sit for at least 20 minutes, applying more as it dries; rinse well. Be sure to wear eye and skin protection during this process and protect nearby plantings.

Clean the surface

Because paint won’t stick to dust or grime, you must wash your entire house, either scrubbing by hand or with a power washer. A power washer uses water from your hose and increases the water pressure as it leaves the wand to between 2,300 and 3,500 psi (pounds per square inch). In the hands of an experienced user, the power washer can be very useful. Inexperienced users, however, should know that this tool’s power can wreak havoc if it’s not used correctly. At high pressure, the water jet can etch wood, break glass and blast mortar from joints; the water also can soak the wall and requires time to dry out before painting.

Sand and patch

Once the dust and gunk are gone, you’ll need to follow up with hand scraping and sanding. On wood siding, you should fill in any gouges or holes with an exterior-grade patching compound, or “plastic wood.” Larger damaged areas should really be replaced with new siding. Cracks, seams and gaps will need to be caulked with a top-quality, paintable exterior caulk. Be sure to caulk the spots where siding meets windows and doors, corners and the edges of exterior trim.

Cover edges, trim

Next, mask off areas that you are not going to paint. You might want to place painter’s tape along the edge of house trim, and around window and door frames and trim if you plan on painting these in a different color or different type of paint. You can also tape newspaper or plastic drop cloth material over windows and doors, including sliding glass doors, to protect them from drips. Place drop cloths over plants and shrubs, or where paint may drip on porches, roof sections, sidewalks, driveways or other surfaces.

Apply primer

In order to get the best exterior painting results, it’s often necessary to use a primer or sealer before applying the paint. Primers help paint adhere better to the surface that’s being painted.

Experts say almost any exterior painting project will benefit from the use of a top-quality primer, but there are certain applications where a primer is essential, namely, when painting new wood, bare stucco or any surface that has not been previously painted. You should also use a primer when repainting an uneven or deteriorated surface or a surface that has been stripped or is worn down to the original material.

If this list of sounds extensive, it is; preparation can amount to 50 percent or more of the time it takes to paint a house. But it’s crucial; a quality job done with proper preparation and quality materials will last seven to 15 years.

Hiring a pro

If painting your home’s exterior is beyond your scope of expertise — or the project will take longer than you’re willing to invest — hire a pro to do the job. To ensure you’re hiring a reputable paint contractor, meet with a number of contractors personally and ask these questions:

• What materials do they plan to use? Who specifies the paint — you or the contractor? If the contractor selects the paint, does he or she recommend top-quality paint?
• Ask for — and check — references. Ask these previous customers if they were pleased with their work and how the paint job is performing. You may even want to take a look at their homes to see the results for yourself.
• Ask if the contractor is licensed, bonded and insured (ask to see their certificate of insurance). How many years has the company been in business? Is the business affiliated with an industry trade association?  Call the Better Business Bureau to make sure there are no complaints against the business.
• Ask about payment terms. Don’t pay for work before it’s done.
• Get it in writing. The bid should include specifics about surface preparation, how shrubs and plantings near the house will be protected, the exact paints to be applied, payment terms and more.

Related:

• Is Blue for You? How to Choose Exterior Paint Colors
• 7 Steps to Face Your Color Fears
• What to Do With Leftover Paint

Each month, San Diego State University lecturer and Zillow Blog contributor Leonard Baron answers two questions from readers regarding buying, selling and investing. Have a question? Send it to Leonard@ProfessorBaron.com

Revocable trusts

Hi Professor — I keep hearing about trusts and that forming one can be a good idea to save money on taxes and maybe provide liability protection to my assets. What are the basics? Bob. N., Toledo, OH

Hi Bob — It depends. Here are the basics on the most common trust, a revocable living trust (RLT). State laws differ, but an RLT is set up to allow the trustor (forming the trust) to skip probate court at death. The trustor would title all their real estate, bank accounts, etc., into the RLT, and when they pass away the assets are distributed via what the trustor detailed in the trust. This can also occur via a will, but a will is “probated” in state court, which takes a big chunk of fees for administering the estate. If you have an RLT, which costs about $2,500, the assets in the trust skip being probated, and your estate skips those probate fees — but talk to an estate attorney in your state for more information.

An RLT does not give any liability protection or save money on taxes during the life of the trustor. Other trusts — expensive ones starting at $20,000 and up — could save you money on taxes, hide or protect your assets, etc. But your estate would probably have to be several million dollars to consider these types of arrangements.

Wrap-around mortgages

Hi Leonard — My daughter is considering buying a property with a wrap-around mortgage because she can’t get a regular bank loan. I’m concerned because isn’t the seller violating their mortgage by selling the property and not paying off the mortgage? Any suggestions? Aaron S., Salt Lake City, UT

Hi Aaron — You should be concerned. Yes, the seller could be violating their mortgage terms. There also could be insurance issues, higher transaction/legal costs and all kinds of other issues with a wrap-around loan.

Many times rent-to-own or wrap-around deals are purchased by people who don’t have the financial wherewithal to do a traditional mortgage from a bank. They mistakenly think that buying “any” property is better than not buying at all — which it’s not! Renting is not throwing away money; buying a bad real estate deal probably is throwing away money.

You should coach your daughter to get into financial shape to qualify for a traditional mortgage, shop all the available inventory in the area and buy when she finds a great property and is ready to become a homeowner.

Related:

• Mortgage Shopping: How to Compare Good Faith Estimates
• Tips for Preparing to Buy in 2013
• Offer Accepted: What Happens During Escrow?

Leonard Baron, MBA, is America’s Real Estate Professor®. His unbiased, neutral and inexpensive “Real Estate Ownership, Investment and Due Diligence 101” textbook teaches real estate owners how to make smart and safe purchase decisions. He is a San Diego State University Lecturer, blogs at Zillow.com, and loves kicking the tires of a good piece of dirt! More at ProfessorBaron.com.

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

As the real estate market significantly rebounds, some buyers and sellers are dipping their toes in the waters for the first time. Inevitably, they come into the market with assumptions about how it works.

Their assumptions may come from TV reality shows or watching their parents’ house-hunting experiences. Maybe they’ve learned about real estate from a co-worker’s recent home buying or selling experience. The trouble is, the new buyer or seller’s assumptions are sometimes based on outdated or generalized “real estate myths.” Here are three such myths that many less-seasoned home buyers and sellers assume are true.

Myth No. 1: Spring is the best time to sell a home

Historically, real estate seasons were tied to summer and the end of the school year. Families were the typical buyers or sellers, and they wanted to move during the summer so their kids could start anew in September. That’s how spring became the prime selling season. It’s true there are still more homes for sale in the spring, which means there’s a lot of activity and buzz. But spring isn’t necessarily the best time to sell a home anymore.

The reality: The best time to sell is during the holidays and right after

Today, more than half of buyers aren’t married, and their decisions aren’t based upon school schedules. So spring isn’t as relevant as it used to be. Instead, the best time to sell a home is in November, December and January.

It’s a supply-and-demand issue. Most sellers assume buyers aren’t seriously looking during this prolonged holiday season. And yet, many buyers are looking at properties in person and online right up until Christmas Eve. If the right home goes on the market in mid-December, a serious buyer — and there will be a lot of them — will take note.

After New Year’s Eve, most buyers jump back into their routine with a resolve to get into the real estate market, even though many sellers wouldn’t even consider listing in January. The net effect: Savvy sellers will face less competition for a still-strong pool of buyers during this period. And that makes November-January a great time to sell.

Myth No. 2: Always start with your lowest offer

There’s no generalized strategy for making an offer on a home anywhere, ever. A seller could have overpriced or underpriced the home on purpose. Some markets may be more competitive than others. But, somehow, in the back of the buyer’s head is good old Uncle Bob saying “never offer the full asking price.” That strategy might work if you’re trying to buy a used computer on eBay. And it worked in some real estate markets years ago. But times have changed.

The reality: A low offer may get you nowhere fast

A buyer in a strong, tight inventory market today would be wasting their time making low offers right from the start. It’s likely a home that’s priced right and shows well can receive multiple offers, sometimes even over the asking price. In this environment, constantly throwing in low offers because that’s what your Uncle Bob advised you to do will likely lead to disappointment. Instead, work with a good local real estate agent to understand the market. You’ll quickly learn after a few weeks on the open house circuit (and maybe a disappointment or two) that starting low may not get you anywhere.

Myth No. 3: A cash offer trumps all

There’s an assumption that a seller, considering two different offers, will always go with the cash offer because there’s less risk. As a result, many buyers who hear they’re competing with a cash offer assume they won’t get the home. They may not even make a formal offer. At the same time, many cash buyers assume that because they’re paying cash, they can make an offer below the asking price, and it will likely be accepted.

The reality: A savvy seller may be more tempted by a solid financed offer

Consider a seller with a home priced at $399,000. The seller receives two offers: One is a cash offer of $375,000. The other is an offer for the full asking price, with 25 percent down, a bank pre-approval letter and swift contingency periods.

A good buyer’s agent, upon learning their client is competing with a cash offer, will arm the seller with lots of data supporting their client’s finances, such as a credit report and verification of income or assets. The agent might even arrange a call between the seller and the buyer’s lender.

Learn your market

When you become a buyer or seller, especially for the first time, the most important thing you can do is learn your market. Talk to a savvy local agent, and don’t make assumptions based on what you think you know. Real estate is local. Every market is different, with its own customs. If you believe there are general rules for real estate strategy that apply everywhere, anytime, you’ll likely be fooled — not only in April, but every other month of the year.

Related:

• 5 Ways to Find Your Home During an Inventory Shortage
• Tips for Gen X and Gen Y Home Buyers
• Is Pricing Low the Way to Go?

Brendon DeSimone is a Realtor & HGTV real estate expert. He has collaborated on multiple real estate books and his expert advice is regularly sought out by print, online and television media outlets like FOX News, CNBC and Forbes. An avid investor, Brendon owns real estate around the US and abroad and is licensed to sell in two states. You can find Brendon online or follow him on Facebook or Twitter.

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

Freddie Mac and its regulator are not doing a good enough job bird-dogging complaints by homeowners about the companies handling their mortgages, a federal oversight official said Thursday.

The mortgage giant’s eight largest mortgage servicers resolved more than 25,500 “escalated” complaints from homeowners between October 2011 and November 2012, but failed to take care of 21% of them within the required 30-day window, according to a report from the inspector general overseeing the Federal Housing Finance Agency.

In addition, the report found that the vast majority of complaints were never reported to Freddie Mac (FMCC, Fortune 500) and that FHFA, the agency that oversees Freddie, did not have the proper procedures in place to handle some of the most serious borrower complaints — including allegations of servicing fraud and improper foreclosures.

When such issues aren’t resolved quickly, borrowers don’t have adequate time to explore alternatives and, in some cases, end up losing their homes to foreclosure, said Russell Rau, deputy inspector general for audits.

Under guidelines that were put in place in 2011, servicers are supposed to observe strict protocols when a borrower lodges a complaint.

Related: 5 best places to buy a home

Complaints are often fielded by an agent manning the phones for the servicer. If the agent can’t immediately resolve the problem, it gets kicked upstairs to a specialist. Once that happens, the complaint is officially an “escalated case” and the servicer must report it to Freddie and resolve the problem within 30 days.

However, the report found that four out of Freddie’s eight major servicers — Bank of America, CitiMortgage, Wells Fargo and Provident — never reported any cases between October 2011 and November 2012, even though the group handled more than 20,000 during that time.

In addition, the inspector general said Freddie did an “inadequate” job of making sure its servicers complied with the rules and failed to establish any type penalties for servicers who failed to report escalated cases.

Related: Zombie foreclosures: Our debts won’t die

Freddie Mac didn’t immediately return calls seeking comment.

The watchdog also alleges that when FHFA assessed Freddie’s implementation of the new guidelines, it did not even address the failure of servicers to resolve and report all cases within 30 days.

The inspector general recommended that FHFA and Freddie immediately improve the reporting of escalated cases by servicers and impose fines for servicers who don’t comply.

At the end of 2012, Freddie Mac owned or backed more than 10.6 million mortgages.