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Real estate tips
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Simple moving strategy saves time and energy
The next time you move, instead of packing your dishes in paper, wrap them in face cloths, bath towels, hand towels, etc., anything in your linen closet. When you unpack, they’re clean, need no washing and the linens can be put right into the closet.
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When making a relocation decision
It is best that you don’t buy until you have spent time in the community on several occasions and during different seasons. If it still appeals to you, rent for a year before you buy to make sure you are in the right place.
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Something to consider when retiring abroad
Your retirement dollars can be stretched by moving abroad. But be aware that Medicare will not pay benefits if living in a foreign country so you need to consider how you will be able to pay for health care.
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Things to consider when relocation is part of your retirement plans
Before making a firm decision about a place, find out if it is a safe community (check crime stats); if weather and seasonal changes are to your liking; if you can afford to live there (check cost of living and work/business opportunities to maybe supplement your income); and if the local residents share any of your interests.
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Make sure there is no kitty cat smell when you show your home
Be sure the liter box is clean and hidden!
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Give closets a large look for interested buyers
If your closet is crammed full, temporarily store some its contents elsewhere while the home is showing to prospective buyers. Sufficient storage space is important and an ‘overloaded’ look might work against you.
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Make the house look bright for a prospective buyer
Use higher-wattage bulbs to brighten the inside of the house.
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Before a prospective buyer arrives, be sure to take out the trash
Eliminate any unpleasant odors burning a candle or incense to give a pleasant aroma.
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A nice home should have a nice looking mailbox
Purchase a mailbox that is in character with the personality and cuteness of your home. Don’t put a cheap mailbox on a $500,000 house.
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A neglected ‘for sale’ signs gives a negative impression
A dilapidated sign that needs painting or held securely in place gives the idea that the home has been on the market for a long time. This suggests there might be problems with the home. Don’t give a potential buyer an excuse to pass you by simply because of your ill kept sign.
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Keep the garage doors closed when home is put up for sale
A closed garage door makes a home look neater (even if the interior of the garage is well organized). Garbage cans, rakes, bicycles, etc. should be inside the garage.
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Remove ‘out of season’ decorations when placing your home for sale
Walkway lights and garden fountains, etc. are fine. Out of season decorations can give a ‘cluttered’ look.
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Remove a dilapidated backyard fence when selling home
Eye appeal makes a BIG difference and first impressions can influence a buyer’s decision.
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Nice looking sidewalks add to attractiveness of your property when selling
Keep cracked sidewalks patched, even if it is the town’s responsibility. Reroute sidewalks shattered by tree roots. Keep the walks swept and the lawn and flowerbeds edged.
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Neat landscaping can make a difference in the selling of your home
Keep shrubs and overgrown trees trimmed and remove dead or dying plants.
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Planting colorful flowers around your home can help it sell
Plant flowers to make the front of your house look alive, particularly if it is painted a white or dark color.
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Edging the lawns and flowerbeds help in the sell of your home
This will give a well-maintained look. On the flip side, grass or weeds that are sprouting from cracks in paths imply neglect.
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Keep front stoop free of clutter for best visual for prospective buyers
Remove potted plants, statues and decorations. They give a cluttered look and the area will look smaller than what it actually is.
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Make your home look balanced from the outside to prospective buyers
Use similar shaped and colored drapes for the front windows of your home. It’ll give your home a balanced look.
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A polished doorknocker gives appeal to a prospective buyer
Replace well-worn doorknobs or doorknockers with new ones. Outside appeal can make a difference to an interested buyer.
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Repair broken or missing shingles before putting home on the market
A few bad shingles can give the impression of roof problems, a big turnoff for potential buyers.
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Take down broken or weathered basketball hoops when selling home
Leave the hoops up only if they look new and have nets. If can possibly gain you points with a perspective buyer who has kids.
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Protect wood items during a move
Protecting wood during a move involves more than putting a blanket or moving pad on top. Protect the surface with padding, the joints from bumps and vibrations with foam or rubber, and the entire piece with a shell or casing during moving. Most times, that shell involves the actual moving truck, and packed boxes wedged tightly against the wood furniture.
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Estimating moving costs
When estimating moving costs consider: your health, finances, distance of move, cost of gas and mileage (if you rent a moving van), and all options available when using a moving company (some offer packing services). Family and friends might lend a hand. If relocating because of a new job, your new employer may help with your relocation expenses.
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Finding a good Realtor
A good Realtor can recommend a lender. He can provide information on price ranges and properties for sale in any subdivision. And then, he can help you make your home selection after you have chosen the best location.
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Picking the neighborhood should be the first priority
You need to know your budget (get pre-approved); choose a desirable subdivision (location) within your budget; and 3) then pick the best home in that subdivision.
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After finding the right neighborhood, then what?
Narrow down the possibilities in the area from a realistic list of “must haves” that are important to you. Then let the Realtor provide you with a list in the price range you are considering.
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Best time to view and make offers
Weekends and evenings are NOT the best time. The listing agent and your lender work weekdays, 9 to 5, and they are not available to process your offer. You’ll wind up competing with other weekend offers. Take the necessary time off from work and go about it in a business like manner during business hours.
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Scheduling the closing
Avoid month end crunches of mortgage lenders, title companies and other service providers that can cause delays in closing. Schedule it to occur in the middle of a week during the middle part of the month. Be sure to allow sufficient time, typically 30 days, for the escrow period. It’ll be worth the few more days of rent.
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House, Townhome or Condo?
Before jumping into a condo or a townhome purchase it is wise to carefully consider all the facts, both positive and negative relating to condo, townhome or other "shared ownership" type properties.
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Choosing the best real estate agent
Having the right agent is the key factor in making your real estate experience rewarding and trouble free. Don’t pick your relative, neighbor or friend just because of the relationship unless they also meet other important criteria that is important to you in the purchasing of your home.
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Don’t choose the agent whose name is on the sign
The agent listed on the sign in front of the house you are interested in cannot look out for your best interest because they already work for and represent the seller. Buyers need an agent that works for and represents them.
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Choose an agent who will have time for you
Do not choose an agent based on their sales awards such as 'Top Producer', 'Platinum Club', 'Million Dollar Achiever', etc. Those awards may sound impressive but they relate only to volume and not to quality service and expertise. You want an agent who has time for you.
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Look for an experienced and well-trained agent
Choose an agent who has been in business (full time) for at least several years. Credentials above and beyond just having a real estate salesman's license are also essential. A broker's license is usually better as is advanced training.
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Choose an agent who takes the time to answer all your questions
Your agent should also provide you with helpful information and advice, usually in writing or via his internet site.
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E-Realtors and saved commissions
"E-Realtors" are all on a modest salary, not commission. They have little incentive to "go the extra mile" to get the job done for you. In order to make money they need to deal in large volumes of customers, not in quality service, assistance and details.
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Accuracy of MLS stats
MLS data is compiled from various sources and is intended to be accurate. However, people make mistakes and data sources may or may not be reliable. It can also take several days for information to be updated in the MLS system.
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Coaching for first time buyers
Your Realtor will be a coach and guide to what, when and how to do things. He will also manage all of the contracts, deadlines and details for you. He will suggest a few lenders for mortgage pre-approval for you to try as well as coach you on the right questions to ask.
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For sale by owner carries risks
Lack of knowledge and information combined with greed, leads sellers of most FSBO homes to overprice them. Worse, buyers tend to be uninformed, unprepared and unqualified. In either case someone loses.
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Help for first time buyers
Your Realtor will be a coach and guide to what, when and how to do things. He will also manage all of the contracts, deadlines and details for you. He will suggest a few lenders for mortgage pre-approval for you to try as well as coach you on the right questions to ask.
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Holiday Home Shopping
Holiday time is the best time to be a home buyer. Home selling season is Spring thru Summer. By holiday time home sales grind to a crawl with many sellers still needing to sell. Prices are reduced and/or sellers are more negotiable. With things moving a bit slower during the holidays you'll get better service.
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Be an "after the season" buyer, not a "prime-time" one
When are the best times to buy? They vary but the months of August, September, December and January seem to be slow sales months. Factors such as back-to-school, vacations, holidays and weather keep many buyers away. So take advantage of timing when you buy.
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Listing plans and/or "fee for service" options
Most Realtors offer options to meet the needs of today's home sellers. By taking on some of the traditional work and risk sellers can have the representation and expertise they need and still save in the process.
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Discounted selling plans
Be aware of heavily discounted flat fees. Home selling is time and knowledge intensive. By conservative estimates the average Realtor spends 40-50 hours getting a home sold. A realtor provides critical skills and experience not available in "how to" books or web sites. It’s not free and will never be available for a nominal MLS "flat fee".
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Choosing the best seller's agent
Look for someone seasoned and experienced, educated (certifications, college or advanced degrees), honest (suggests a fair and reasonable price based on certain facts from data from actual recent sales), good references and compatible personality with your own.
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Pricing a home
Knowing the correct price is essential when buying or selling a home. The internet now makes it relatively easy to obtain pricing data but accurate results and objectivity requires an impartial 3rd party opinion, an experienced Realtor. A Realtor® can provide a Comparative Market Analysis (CMA) to define the fair market value (or value range) for a home.
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Fee for services - sellers
Traditionally, the seller pays a commission to the listing broker at closing of somewhere between 5 and 7 percent of the sales price. Some Realtors work, instead, on an hourly basis for advice, counseling, negotiation assistance and other services. Pay only for what you want and need.
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The commission - is it set?
Legally there can be no fixed commission rate or structure. Each broker is free to set the fees charged by their firm. Some brokers may wish to be more competitive or set different fees for different levels or types of services. Many offer flat fee plans, discounts or hourly fees to meet the varying needs of today's home sellers.
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Marketing your home
People buy homes based on three things: location, condition, and price. Home sellers almost always have an inflated opinion of their home's value, regardless of reality. For the best results in home selling find a Realtor that will tell you the truth about your home, not a lot of “Superior Marketing” hype.
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“Brand Name” real estate providers
In real estate, "brand names" are merely marketing tools. The actual service (getting a home bought or sold) is the product of the individual agent and their individual efforts and expertise. Quality of service does not necessarily come with a ‘brand name’. Smaller or independent firms also give superior service.
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Getting internet results
There are Realtors out there that actually respond to email and provide useful data. Be sure you provide complete and adequate information when you make your original request. If you like their prompt and useful internet help, it would be really nice if you also used their services to complete the purchase or sale.
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Lease/purchase options
The bottom line is that some things that sound "Too Good To Be True" may be just that. So, any buyer or seller contemplating a real estate "lease/purchase" needs to really do their homework. To be prudent, representation by both a Realtor and a real estate attorney is recommended.
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Home warranties - Are they worth keeping?
Good only for a year, the warranties will expire if not renewed. The surprise is that they usually cost more to renew than they did originally. And, while it's great to have one in the beginning, warranties may not be worth keeping. It really depends upon the home and homeowner.
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Renewing your home warranties
If you think you might want to renew be sure to check into the renewal costs and options prior to the one year expiration. One thing for sure, the warranty company won't repair your furnace today if your warranty expired last week.
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Mortgage solutions
A prospective home buyer's best mortgage solution can be found by meeting with a reputable mortgage lender or broker. The buyer should go over his financial situation with the lender and then review the multitude of programs for one that fits his needs best.
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When Do You Make Money on your home?
Money is most often made when a home is purchased, not when it is sold. In order to have an equity gain at sale time there needs to have been a good investment to start with. That can only happen at time of purchase.
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Sellers in a hot market
Regardless of market condition there are always homes that take longer than others to sell. Location, condition, curb appeal, market exposure and pricing are some of the factors in getting a sale. And, when an offer appears, don't be too greedy; your home just may not warrant full price.
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Buyers in a hot market
First, arrange the financing. Then avoid being too picky; the perfect home just doesn't exist - at any price. And, don't hesitate when you find a nice one. Above all, keep in mind that prices might be negotiable but probably not as much as you would like.
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Choose an agent who works as a Buyer's Agent
A buyer’s agent will represent your best interests in the home buying process and not try to just "sell you" on the first thing that comes along. Beware, the agent advertising the "hot new listing" in the homes magazine doesn't work for you; he works for the seller.
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A realtor need not be “local”
Qualifications and expertise of the Realtor should be the overriding factors in your selection process, not where they office. Today's most important neighborhood knowledge - comparable sales - is found electronically. Look for an expert in real estate, not a nearby office.
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Moving safety rules
Instead of writing your personal information on boxes, write numbers on them instead. Record the numbers on a sheet of paper with a description of the contents. This minimizes the prospects of theft.
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Moving inventory
Make a list of valuables and take photos. In event of loss, you have proof of their existence
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