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Posts tagged ‘Real Estate’

Do you know how to attract buyers?

Do you want to sell your home?

The first step is, of course, the list your home with a reputable real estate agent and have it exposed to as many potential buyers as possible.

When buyers first hear about your home – through their agent or through some marketing your agent has done – they often will drive by the area. When they drive by, they’re looking at the neighborhood and making sure it feels like some place they’d like to live. If they like it, they’ll make an appointment to come see it. If there’s anything they don’t like, they won’t make an appointment and you’ve lost an opportunity to get that buyer in to see the home.

It’s very important that your home’s first impression is a great one. Paying attention to the details that make up your home’s curb appeal will make a big difference in how many buyers will see the home. Here’s what you need to know.

 

 

 

If you’re thinking of selling your home, call us for a free comparative home analysis and find out what your home is worth!

Making an Offer

Finding the right house is a pretty exciting experience. The house feels like a home when you walk in – the rooms are the right size, the floor plan suits you, the location is exactly where you want to be, and you can’t wait to move in!

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So you tell your real estate professional, “Wayne and Jean, this is the one! We want to make an offer!”

You want to ensure that your offer appeals to the sellers:

1. Price. Your REALTORS will help you determine the appropriate sale price for the home. You might be offering close to the list price or you might be a little below. If you’re below list, you’re going to want to provide the comps that you used to determine that the price you’re offering is fair.

2. Terms. Factors in your offer other than the price can impact how it is received by the seller. For example, a close date that is soon or far in the distance might appeal more.

3. Financing. The type of mortgage that you’re securing will also make a difference – some mortgages are quicker to approve and are more likely to approve. You want to provide your pre-approval letter and all documentation to help the sellers view you as a serious buyer.

4. Earnest money. The amount of downpayment that you’re providing might also help the sellers make a decision. If you’re putting down a lot of money, they’ll know that you really are ready, willing, and able to buy the house.

5. Conditions. If you have any contingencies – you need to sell your current home, for example – that may impact the seller’s decision to accept your offer. Some buyers request that the seller pay some or all of the closing costs – that might only appeal to the seller if your offer is strong.  You will want to make your offer contingent upon an inspection and the seller may specify limits to this.

Once you’ve written the offer, your REALTORS may do two more things to strengthen your position, particularly in a home that may have multiple offers.

6. Write a personal letter. When you make an offer to buy a home, you’re essentially entering into a financial agreement with another person. But buying and selling a home is an emotional process as well, and there are times when we’ve asked our buyers to write a personal letter to the seller. This letter can be as short as one or two pages and usually appeals to the seller’s sense of pride in the home. The buyers will describe their family and what their plans are for the home once they move in. Point out the things in the home that you lvoe.

7. Present the offer in person. Some sellers will allow the REALTOR to present an offer in person. This gives us the opportunity to share some personal information about you with the sellers and hopefully persuade them that your offer is not only legitimate but that you will care for the home with the same love that they did. Your agent can also begin negotiations at this point and you might have a signed contract!

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When you find the right home, entrust your offer in the hands of a REALTOR who understands that buying a home is both a financial decision as well as an emotional decision!

 

Union County Market Reports – July 2014

When you’re ready to buy or sell a home, one of the first steps you need to take is to educate yourself about the local market conditions. Here’s what you need to know this month:

 

For more information on selling your home:

 

Free Comparative Market Analysis of your Clark Home

Do you know what your Clark home is worth? We do!

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Call  us today for a free Comparative Market Analysis! We’ll compare your home with others like it and can usually estimate within 2% of what your home would sell for in today’s market.

 

 

How do you choose a house?

What criteria are you looking for in a home?

When you are ready to start looking at homes, you and your agent will go through all of the homes offered for sale in your neighborhood in your price range. From the list, and there could be many, you’ll select the homes that meet the criteria you need and want in a home. Some things to consider are:

  •  How many bedrooms do you want?
  • How many bathrooms do you want?
  • What’s your preference in terms of outdoor space? Do you want a backyard, a garden, a lawn, a patio, a deck?
  • Do you want a garage?
  • Do you want a basement? Do you want a finished basement?
  • What room sizes are you comfortable with?
  • What floor plans or styles of homes do you like? Do you like split level homes, colonial homes, ranch homes, bi-levels, Tudors, Victorians, expanded ranch, Cape Cod or contemporary homes?
  • How much storage space is essential to you?
  • What upgrades are you looking for – gourmet kitchens, hardwood floors, granite countertops, and skylights?
  • Do you want a swimming pool?
  • Are you comfortable with a fixer-upper?

You’ll probably be able to take a list of all of the homes in your neighborhood in your price range and then narrow it down to a few that appeal to you based upon these characteristics.  Finally, your agent will schedule times for you to see each home on your list!

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On your first showing day, you may find yourself getting confused by all the possibilities. Your agent will help you by pointing out the comparisons between the homes and helping you to see the home’s best features.

It often helps to keep a record of the homes that you’ve seen, their location, list price, and features that you love and don’t love about each home.

Buying a home is a financial decision and a business decision, but it’s also a very emotional decision. It might take two or three or even more showing days to find the right home for you and  your family. If you are exceptionally clear about the criteria that you want and don’t want in a home, your agent will be able to help you find the right home more quickly.

 

Writing an Offer on a Home

Once you’ve found a home, your agent will help you write an offer.

An offer takes the form of a contract and specifies everything about the conveyance of the property. Then, your agent will present the offer to the listing agent who will present it to the owners.

How Much Should You Offer?

In writing an offer, some buyers are concerned about offering too much. They think that if their offer is accepted, that means they could have offered less and still gotten the house. Other buyers are concerned about making an offer that is too low. They’re afraid that the sellers will be insulted and will refuse to negotiate.

Our advice to you is to make an offer that reflects what the property is worth. The only way to find out what it’s worth is to compare it to other similar properties that have sold in the same neighborhood. Your Realtor will call that a Comparative Market Analysis (CMA). For more information on how CMAs are written, please read this article.yellow

What Other Information is in the Offer?

In addition to how much money you’re willing to offer for the home, there are other factorsthat are included in your offer and may impact the seller. One factor is the time frame. Your seller might want to close quickly or slowly to accommodate some event so your offer might be more appealing if you’re offering a flexible closing date. The type of financing you’re securing and the amount of your down payment are also important to your seller. They may feel more secure if your down payment is large or if your loan is a certain type.

You will also be asked to provide a check as earnest money. This is money, usually $1000, that indicates that you really intend to follow through with this contract as it is written if it is accepted by the seller. Of course, if the contract fails to be accepted, you will be refunded that money. If the sale gets to closing, this money will count as part of your down payment.

Then What?

Your agent will present the offer to the sellers. Possibly, they’ll have you write a letter telling the sellers a little about yourself to make the offer more personal. Additionally, your agent may present the offer in person to negotiate on the spot, with your permission.

The seller will either accept the offer as written, make a counter offer, or simply say no. If they accept the offer as written, congratulations! You’re on your way to owning the home you’ve chosen! If they make a counter offer, then your agent will negotiate on your behalf to try to reach a meeting of the minds. If they say no, then you’re back to the drawing board.

 

How to choose a neighborhood

 

An old joke goes like this:

Q: What are the three most important factors in a home?

A: Location, location, location.

But it’s not really a joke. Where you choose to live will have as much, or more, of an impact on your quality of life as the home you choose. westdown

What characteristics do you want in your neighborhood? Some things to consider are:

  •  How do you feel about your commute? Do you want to live 5 minutes from work or are you ok with living 30 or 60 minutes from work? Are you willing to drive on highways and take bridges or tunnels to get there, or will you be willing to take mass transit? Select neighborhoods that allow you to have the commute you prefer.
  • How important are the quality and proximity of schools to you? If you have, or will have children, then you want to do some research into the schools in the neighborhoods before you commit to a house. How close do you want to be to the schools – is walking distance necessary, or will you drop your children off at school or will they take a school bus?
  • Do you want community parks, green space, lakes, playgrounds, or other recreation available near by? If so, then make sure that the neighborhoods you choose have those amenities.
  • Is it important to you that shopping be within walking distance or within a short car ride? Are you comfortable driving 20-30 minutes for groceries?
  • The type of restaurants in a neighborhood might be an important factor for you. If you like to dine out, then you’ll want to choose a neighborhood that provides the types of restaurants that you enjoy.
  • For many home buyers, the proximity of a House of Worship to their home is an important factor.

This is the most important advice we can give you – Spend some time in each of the neighborhoods you’re considering. Get to know the neighborhood and the people in it – eat in the restaurants, shop in the stores, visit the library. Go to the post office and the convenience store. Do these people seem like people you want to live near? What’s the “feel” of the neighborhood?

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