Sellers March 20, 2019

Tips for Self Moving

Self-move means that you take care of packing and coordinating with people who can help you move your things to your new place. Since you have to take care of all these on your own, it can be overwhelming. Below is a list of things you’ll need to think about when you’re considering self-moving along with tips you might find very helpful.

  • Moving truck – find one that’s as big as your need.Be prepared to drive the truck that you rent. Study the truck and its controls. Just because you can drive a car doesn’t mean you can drive a truck just as easy. They are bigger and heavier so they should be driven slowly and carefully. Braking distances are longer and they have large blind spots. Some trucks do not have power steering and power brakes and automatic transmission may not be available.
  • Towing a vehicle – When you rent a truck, let the company know that you will tow a vehicle. Give them details like the make and model of the vehicle so the comoany can provide you with a truck that’s most appropriate for it.
  • Dollies and Pads – they can protect your appliances and furnitures from friction and bumps. Straps are also necessary to keep your load in place. Refrain from using bungee cables. You might need to use hand trucks to move big and heavy things.
  • Fuel – It’s a wise idea to refuel the truck before bringing it back. If you don’t, the rental company will charge you for the gas you used and usually it is more costly.
  • Packing supplies – boxes, tape, bags. These things add up and will cost much when you buy everything at once. You might find it easier to gradually accumulate them. Rental facilities and package stores have them available.
  • Reservations and Deposits – When you have finalized the date of your move, reserve the rental truck so you can be sure it’s available when you need it. Usually rental companies require a deposit.
  • Rental Insurance Protection – Most insurance companies do not cover your things while you’re moving. Verify this information with your current insurance agent. Ask the self-move dealer or the rental company what protection they could offer you. When you pick up the paperwork for the truck, review to see if the rental protection is included there.

When you pick up the truck, the dealer should be able to show you everything you need to know about it. Ask questions if anything is unclear. Keep all the receipts and paperwork relating to your move like rental, gas, food and lodging expense. You might need them, especially if your move is required by your employer. 

Sellers March 20, 2019

Helpful Tips for Showing Your Home

If you want to sell your home in the soonest time at a good price, you need to make your house look attractive and interesting to buyers. Here are twenty sure-fire tips to do this:

Preparation

  • The first thing you need to take care of is the outside since this is the first thing that potential buyers see. The lawn must be trimmed and free from clutter. Walks and s]teps should be clean from ice, snow and debris. The fron door needs to be clean and make the entry look inviting.
  • Faded paint and worn out wood makes your house look old and cheap. Spending on a new wallpaper will be worth your money. Take time and effort to redecorate your house and you’ll sell your house at a good price.
  • Bright and sunny rooms add to the charm. So open the curtains and let the sun shine in. It’s cost free but can do a lot of wonders.
  • Do all the necessary repairs – Loose knobs, sticking doors and windows, warped cabinet drawers and other minor.
  • Make your attic basement, and other utility space look bigger by removing storage bins. Painting the walls with a light color can brighten the mood and make them look more spacious.
  • Ensure safety. Take away any clutter that can cause injury, especially in the stairs.
  • Make closets, cabinets, shelves and cupboards look spacious by arranging things neatly.
  • Bathrooms should look clean and bright. And the faucets should be working.
  • Make the bedrooms look neat, beautiful and relaxing. Use attractive bedspreads and newly washed curtains.
  • Make sure all the lights in the house are working. Turn on all the lights for an evening tour. It will give potential buyers a feel of glowing warmth.

Showing

  • Avoid having too many people in the house during house tours or inspection. This will make the buyer feel like an intruder.
  • Music helps. But make sure it’s soft and mellow. The agent should be able to converse easily with the buyers.
  • If you have pets, make sure they are not in the way.
  • Be polite and accomodating but don’t force conversation. Maybe the buyer needs space to think or just take everything in.
  • Never apologize for the appearance of your home. Leave it to your agent to answer inquiries or objections.
  • Just stay in the sidelines. Your agent is trained and experienced in doing this. They will know how to emphasize the positive features of your house. And allow your agent to discuss price, terms, possession and other petinent factors. They are qualified to bring negotiations to a favorable conclusion.
  • Don’t dispose of furniture and furnishings before a buyer has bought the house.
  • Show your home to prospective buyers only by appointment through your agent. They could handle the tour better as professionals and can sell your house more quickly.
Sellers March 20, 2019

Think Like a Buyer

As a seller, your goal is to sell your home in the soonest possible time at the most favorable price. To achieve this, there are many factors involved. Some of these factors like the home’s condition, asking price and marketing strategy are factors that you can control. However there are some other things that influence a buyer’s decision in buying a house.

When you enter the market, you need to understand most buyers’ wants and needs if you want to be succesful. Competition is tough so you need to know what your buyers want. Your real estate agent can guide you on how you could effectively sell your house despite some flaws.

  • LocationThis is one of the primary considerations that buyers have and unfortunately, is one thing you can’t control. According to the National Association of REALTORS(r), neighborhood quality is the number 1 reason buyers have for choosing a home. It is followed by commute times to work and school.
  • SizeHome sizes have continuously increased since the 1950’s. The market for smaller homes are often limited to new home owners, couples without children, or families with grown children who no longer live with them. 
  • AmenitiesThere are certain floor plans and amenities that become outdated as time goes by. Your real estate agent can inform you of current design preferences in the market. You can opt to renovate to increase profit and marketability. But don’t do this without consulting your agent. They can advise if it’s a wise investment based on the market condition and several other factors.
Sellers March 20, 2019

Short Sale for Luxury Homes

Some people are wondering if luxury homes can also be subject to short sales. The answer is yes. But it has to be done properly because it is sensitive. There are more factors involved. With the use of our technamicra and marketing strategies, we will find qualified buyers.

A short sale can work to the advantage of any property. But they vary in terms of the property situation and the goals of the owners. How?

  • It will not cost the seller. The bank will pay the realtors when the house is sold.
  • It’s probably the fastest way to sell your home if you’re trying to avoid foreclosure.
  • This proviees a way out from financial burdens and start anew.
  • You can still stay in the house for free while the short sale is still being processed.

Losing your home to a short sale may not be easy but it could solve your financial problem as long as it’s done right. Talk to us. We’re here to help you make informed choices.  

Sellers March 20, 2019

A House That Looks Good Will Sell

They say that if you want to sell a house, it should have curb appeal. What it means is that you chould make your house look captivating enough that homebuyers who drive by your house should be compelled to stop and take down the contact information for your agent.

According to the National Association of Realtors, curb appeal is the reason for the sale of 49% of houses. 

However, there are some things that you can’t control such as your neighbor’s houses and yards. You can do everything to make hour home and lawn tidy and beautiful but what if the other houses in the neighborhood are not as attractive as yours? Don’t worry. In fact you can use it to your advantage. This means your house will standout. If the other houses look as good as yours, they might be more interested in those houses or think that yours look inferior. If the houses are sprawling with toys, it gives the homebuyers an idea that there are many kids in the neighborhood. If they have children, they’ll be happy about it. Their children will have playmates. If however the neighborhood has a lot of junk, then it’s a problem.

Based on my experience on curb appeal, this is how you can beautify city and suburban (or semi-suburban) houses:

  • In the case of a yardless townhouse

    1987. A time when the real estate business is taking a downturn. There are many other townhouses for sale downtown. The house is located near a public-housing project which gives an impression of the area being high-risk for crime. On the other hand, it is home to beautiful townhouses, a school around the corner, streets with many trees and a close-knit neighborhood. Since their are many children playing in the street, crimes are prevented. There are no abandoned cars in the street.

  • What I did to prep it up

    I repainted the blue paint on the trim and on the front door. To give a feel of warmth and privacy, I added shutters to the windows in the living room. Then I set up a flower box on the window ledge. I also added a filled half-barrel on the side of the two marble steps up to the front door as well as the small area around the tree in front of the house. The front steps were bleached and scrubbed.

    To deal with the children, I treated them with ice cream so they’d be less rowdy on open house days.

    All my efforts yielded a favorable outcome. The succesful buyer was at the first open house. Prior to this, the house was on the market for five months with two real estate brokerages.

  • Golden rule:
    Give all the neighborhood kids ice cream. Unfortunately, I missed one kid who announced to everyone on open house that someone stole her bike. (It wasn’t true though)
  • In the case of a city house with front yard

    June 2001. The real estate market is booming. Houses in the $150,000-to-$300,000 range are a hot item. The house is located at a semi-suburban neighborhood. The flowers are in bloom; there are plenty of trees; and the street has reopened after a year of railroad-bridge replacement.

    On the downside, there’s a beer ditributor at the corner and they cause a lot of trash. And the street is busy since it’s a main route between two major city avenues.

  • What to do to prep it up

    Clean the facade of the house. Clean the porch columns and rails carefully to get rid of the mildew. Repaint the porch floor. Trim the hedges regularly and plant lots of pretty flowers. Touch up on the paint of the concrete bench under the dogwood. Repaint the stairs on the porch. Fix the sidewalk. Wash the windows.

    Water the lawn regularly and mow it once a week. When you pick up trash in front of your house, do the same with nearby houses.

Outcome: It only took one weekend to get the house off the market. As early as day 2, eighteen couples were scheduled for appointments.

Golden rule: Don’t risk selling your house at an ugly state. Do what you can to make it attractive. But don’t overdo it. Don’t spend so much to beautify the house. Your main goal is to get their attention, make them stop and give your house a good look. But keep their interest by making the inside of the house desirable as well.

Sellers March 20, 2019

Breaking Down the Offer

For a seller who has a house in the market for quite a while, it’s exhilerating to get a call telling you that someone is making an offer. You go through a series of emotions – intitially you feel ecstatic, the next moment when everything sets in, you start to worry thinking that the offer may may not be as good as you were hoping for.

Agents usually don’t tell you the price offer over the phone because there are other things to consider aside from the price – contingencies, seller concessions and real property requests.

Don’t stop at the price. Look at the rest of the offer. Focus on how much net you’re going to get.

Your agent should be able to explain to you the parts of the contract. But it’s better if you already have prior knowledge about real estate contracts. They could vary depending on your state but generally they should be similar.

Here are the basic parts you can expect in a contract: 

  • Earnest money deposit – As the name suggests, it is intended to show that the buyer is sincere. If the offer doesn’t seem favorable, the buyer sets a large earnest money. In most cases, the buyer is the one who decides where the money will be deposited – usually not to the seller but a third party like an escrow, attorney or sometimes a broker’s trust account. The earnest money is usually counted towards the downpayment. If for some reason the sale will not push through, the money deposited will be returned to the buyer. Typically, real estate contracts have a section on any disputes going to arbitration, and most of the time, sellers do not get even a portion of the earnest  money.
  • Purchase price – This is what you’re most interested in. This is most probably the first thing you want to look at. But don’t rejoice until you’ve given a thought on what the buyer wants to include in the offer.
  • Mortgage contingency – This is usually the first contingency you will see. This states that the buyer is acquiring a loan with a specific term and rate. You need to analyze this carefully. Some buyers use this to hold you down while they scout for better bargains. Make sure that the terms specified are realistic such as a 30-year, 5 percent fixed-rate loan with no points when that type of loan carries a 7 percent rate with 1.5 points in your area. Another thing you should be mindful of is the time limit. If not, the buyer might take as long as they want, leaving you tied commited to them and your house unsold. In this contingency, the buyer can also specify if they want you to carry back a first or second mortgage.
  • Seller concessions – The buyers could ask for anything – especially if they know that there isn’t much competition out there. But if the property is a hot item, you can expect the buyers not to ask much seller concessions because they know there isn’t much chance they’re going to get it.
  • Inspection contingencies – This states that the buyers can back out of the deal if the outcome of the inspections show that the house is too much of a problem. There is even a contingency that is dependent on the approval of their mother-in-law. So again, the contingencies should be realistic.
  • Personal property – The buyer can ask for anything that is physically attached to the house being sold. They are considered part of the transaction. It can be the book shelves, light fixtures, kitchen counter. So, those that are not attached to the house like appliances or furnitures still belong to the seller. So if there are things attached to the house that you want to keep, make sure you have them listed. On the other hand,buyers can state the items that they want removed from the house before closing; such as storage bins or boxes of useless items. 
  • Appraisal contingency – The buyer adds this contingency to ensure that they acquire enough amount for the sale price. There are some unlikely cases when the bank doesn’t give an appraisal high enough for the price of the house, usually it happens when there are more seller concessions. Example, the agreed upon price is $300,000 but includes up to $10,000 in buyer closing costs, the house may not appraise if it’s really worth $295,000.
  • Buyer selling property contingency – This applies when the buyer is also trying to sell their property. This means that they can only push through with the sale if they have already sold their house. There is a risk that the seller will let you wait for months. To protect sellers from this, there is usually a 72-hour clause, also known as a kick-out clause. This clause allows the seller to keep the house on the market. If there is another offer, the buyer has 72 hours to fulfill the agreement or the deal is off.
Buyers March 19, 2019

Learn to Research for the Best Mortgage Deal

Are you looking to finance a new home? Or are you finding the best mortgage rate to refinance your home?

The first step is to shop around. But what does that really mean? Research and prepare. Take time to think and analyze different mortgage plans. You could save a lot by doing this. Take this for example: on a 30-year mortgage for a $300,000 house, a homeowner would pay approximately $1,520 each month at a 4.5 percent rate. But if the homeowner chooses a slightly higher rate of 5.10 percent, it would increase the monthly mortgage payments to $1,633, which would make a difference of $40,680 in 30 years. (Figures were calculated on a 20 percent down payment.)

The best thing you should do is retrieve your credit scores. If lenders retreive them multiple times, it can lower your score. 

If you’re looking for a lender, look into their track record. Ask family and friends about them and when you’ve narrowed down your options to two or three lenders, compare their rates.

Before you compare rates, establish a budget. Think about how much maximum you can afford to pay every month.

The lender should be able to give you a comparison of loan terms with conventional methods of financingso you can make an informed decision. Don’t just jump into a plan with low rates. Make sure you understand all the costs with it.  Rate lock is a contract with the lender that ensures the interest rate will not change. But you will need to get the loan within a certain period of time; usually 60 days. If the rate increases, you will not be affected. Using a mortgage calculator , compute the monthly payment at different interest rates. If you find a rate that is lower than your limit, lock in to that rate.

When you see rates that are lower than your limit, act fast. Don’t miss out on good deals and offers.Some lenders offer a “float down.” This means that even if you’re already locked in on a low rate, you can get even lower rates. Specific contracts may vary depending on lenders.

When you look for a lender, don’t just consider one. Look into other lenders as well. Different lenders offer different products. Understand the products. Some products for example have low rates for new homebuyers but not for those who want to refinance.

It’s a good idea to try different institutions from a direct lender, credit union or a community bank. Once you’ve made up your mind on a lender, ask what other fees are added to the loan. You might choose a plan with a low rate but have a lot of additonal charges. Before closing the deal, make sure you know the total amount of the loan.

Once this is settled, decide when you want to close the deal. Discuss your intended date with the lender. Ask about the charges for loan lock periods. Lock in for the best rate and the right amount of time.

Buyers March 19, 2019

How to Get the Best Deal

Buyers are now in a better position when it comes to buying a house. Gone are the days when real estate is a hot market and you need to make an upfront offer as soon as a property is put up for sale.

Competition has mellowed down in most areas. This gives buyers an opportunity to be able to deliberate on what is available and take advantage of the best deals. How do you determine the climate of your market? According to economists, real estate is directly related to employment. So if there is a rise in employment, you can say that the value of your property is also looking up. In the Midwest real estate is not doing as good as auto manufacturing. Prices are low and is not expected to rise anytime soon. It might take a while until the market rebounds.

Things buyers can keep in mind to get the best deal in the market:

  • Do your homework and negotiate fairly.

    In a changing market, the biggest problem is human nature. Market value can drop or stagnate. But sellers often refuse to believe this. To them, the price of their home is based on how dear it is to their heart regardless of its actual market value. On the other hand, buyers take advantage of a market slump and make unrealistically low offers. Before you make an offer, research and think about important things like the features of the home that you want to be in the home, the size of the home and the going rate of properties in the area.

  • Research on comparable sales.

    Find out how much the last one in the area sold. According to Beverly Durham of ReMax Gold Coast Realty in Camarillo, Calif., “See what’s going on out there.’’ Don’t insult the seller by making a very low offer. You’ll drive them away. Your goal is to make them consider your offer.

  • Why is the seller putting it up for sale?

    Find out as much as you can about this. Is it because of retirement, job-related, divorce, they need to relocate, or they simply want to sell to the highest bidder.  This information is crucial. If a buyer knows this, they can either negotiate better or decide to look elsewhere.

  • Check the MLS (Multiple Listing Service).

    They usually state what the seller owes. Or your agent can provide this information for you.With this information, you could negotiate accordingly.

  • Timing.

    According to Durham, “After 45 to 60 days the seller is usually absolutely sick of keeping their house spotless and sick of people walking through.’’ After this period the seller will be anxiouse to sell their house.

  • Go for newer or well-maintained houses.

    It will cost you time, effort and money to fix damages.

    Even in a tight market, it’s okay to ask the seller to add the closing costs to the price of the house. It’s better to pay 20% downpayment and roll the closing costs into the loan than pay 15% downpayment and pay upfront for the closing costs.

  • Be reasonable

    when you ask for extras.You can also ask for new kitchen appliances or washer and dryer. Durham said you can even ask the seller to pay for the first year of homeowner association dues. But don’t ask them for things that involve workmanship. Durham said, “Don’t ask them to paint.’’“They won’t do it the way you want. They’ll do a lousy job.’’

    When you consider buying a home, think about staying there for atleast five years. Remember your goal as a buyer is to get the home that you want; not to outsmart the seller.

Buyers March 19, 2019

The 7 Roles of a Real Estate Agent

Their major responsibility is to protect your interest as a buyer and as their client. Their main roles are the following:

  • Educates you about your market.
  • Negotiates on your behalf
  • Analyzes your wants and needs.
  • Guides you to homes that fit your criteria.
  • Coordinates the work of other needed professionals.
  • Checks and double-checks paperwork and deadlines.
  • Solves any problem that may arise.
Buyers March 19, 2019

Creating a Good Checklist

When you go to a real estate agent, the first thing they’ll want to know is what kind of property you are looking for? What are the things you want in a house? What are the things you don’t like. For them to lead you to houses that are up to your standard, you need to be specific about the features and details you want and don’t want. 

Here’s a guide that can help you:

  • Are you looking for old, historic properties? Or are you looking for newer houses?
  • Is there a particular design/style that you want? Bungalows? Ranch-style?
  • How many bedrooms do you want it to have?
  • How many bathrooms do you expect the house to have?
  • How many stories?
  • What kind of design do you want the living and dining room to have? Do you want a formal, contemporary or casual look?
  • How big a house are you looking to buy?
  • Do you have a specification for the ceiling? How high?
  • What kind of kitchen do you want to have? Recently updated? Do you want a kitchen that lead to other parts of the house?
  • Do you want to have big cabinets? A lot of cupboards? Does the house need to have a garage?
  • Do you want a garage or carport? For how many cars?
  • Does the house need to have an attic or basement?

What amenities do you want your future home to have?

  • an office
  • a mini gym
  • a play area
  • ‘security system
  • sprinkler system
  • workshop
  • pool
  • fireplace
  • jacuzzi
  • patio, deck, porch
  • laundry room