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Beatrice Bloom, Princeton Real Estate Agent

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3 SIMPLE STEPS TO GET READY FOR THE SUMMER RUSH

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Princeton Town Topics – Let’s Talk Real Estate – June 20, 2018

3 SIMPLE STEPS TO GET READY FOR THE SUMMER RUSH

The summer sale season is upon us, and that means if you’ve got a home on the market, you’re going to have a lot of competition. To get the most interest from buyers – and the most cash – you need to be on top of your game.

  1. Fix up the entryway. First impressions truly are everything. Having an entry area that’s covered in dirt, cobwebs, or peeling or faded paint screams “disrepair.” Clean, repaint if necessary and add a nice pot of flowers. Trim overgrown hedges and keep up with the mowing.
  2. Small issues make a big difference. They say the devil is in the details, and it’s certainly true when you’re trying to make your home outshine the competition. Wash your walls, add a new coat of paint if you can, and keep appliances, mirrors, switch plates and windows nice and clean.
  3. Adjust your price. Summer means more buyers – and it also means more homes for sale. Make sure your home is priced to sell by working closely with your agent. Rely on their guidance and lower your price accordingly if you don’t get any “bites” within the first few weeks.

Just a little effort is all it takes to be done with closing by the time those autumn leaves fly.

 

MARKET VALUE VS. VALUATION: WHAT’S THE DIFFERENCE?

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Princeton Town Topics – Let’s Talk Real Estate – June 6, 2018

MARKET VALUE VS. VALUATION: WHAT’S THE DIFFERENCE?

Whether you’re a buyer or seller, making sure you’re getting the best value is of paramount importance. It just makes sense to try to gain as much information as you can before setting a price or making an offer. One big mistake a lot of buyers and sellers make when trying to determine a fair value for a home is to look at the current tax records, available on sites like Realtor.com as well as county tax assessor websites.

While that might seem like a good tactic, it actually can leave you with a wildly inaccurate value, one that doesn’t reflect the true market value of the home. That’s because there’s a big difference between a home’s market value and its value for tax purposes. Tax valuation is completely separate from market value, and it’s determined based on a lot of factors – none of which has to do with the price a home will bring when it’s sold. In fact, in most cases, a home’s market value exceeds the tax valuation – often significantly.

To get the true value of a home on today’s market, talking to an experienced real estate agent is your best bet. Experienced agents know what buyers are looking for, and they also know what prices homes in your neighborhood are commanding. It’s one more way to take the hassle out of the home sales process.

 

MAKING THE MOST OF YOUR PATIO SPACE

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Princeton Town Topics – Let’s Talk Real Estate – May 30, 2018

MAKING THE MOST OF YOUR PATIO SPACE

Memorial Day marks the start of summer–time to enjoy the sunshine and entertain outside. But if your patio has an unpleasant view, is swarmed by bugs, or is uncomfortably exposed to nosy neighbors, spending time outside is not the best. Patio decorations are a useful tool to make the most of your patio space.

If your patio is missing a picturesque view, refocus your gaze inward by adding a sculpture, a fountain, or a brightly painted wall to capture your attention. If buggy evenings are a problem on your patio, switching out light bulbs for LED lights with a Kelvin rating lower than 3,000 provides a softer, yellow light that will attract fewer bugs. A sheet of lattice with leafy vines set up between your patio and your neighbor’s property serves as the perfect decorative privacy screen. A lattice wall will also block your patio from gusty wind.

Not only will these design tricks make your patio look beautiful, they will make your patio ready to entertain and enjoy this summer.

 

WAIVING INSPECTION CONTINGENCIES: DOES IT EVER MAKE SENSE?

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Princeton Town Topics – Let’s Talk Real Estate – May 9. 2018

WAIVING INSPECTION CONTINGENCIES: DOES IT EVER MAKE SENSE?

If you’re  buying a home, a home inspection can provide you with a lot of peace of mind, uncovering “hidden” issues before you sign the final contract – issues that could wind up being very costly to fix. That’s why most home offers have some sort of contingency based on what an inspection finds – which means you’ll be able to rescind your offer without losing any money, depending on what the inspection turns up.

Unless you’re an experienced contractor or builder, waiving inspection contingencies is almost never a good idea; although home inspections may seem costly, it’s a very small price to pay to ensure you don’t wind up with major unexpected repairs after closing. The caveat: Waiving your right to a home inspection can make your offer more attractive to a seller, especially in a very hot market. After all, without an inspection, you’re “locked in” to the purchase agreement, which means the seller can feel more confident the closing will go through.

Should you waive inspection contingencies in your own offer? That depends on a lot of factors. The best way to decide: Talk to your agent. They can provide you with a balanced perspective so you can decide if waiving inspections makes sense for you and for the local market conditions.

 

ZILLOW: MY HOUSE IS WORTH WHAT?

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Princeton Town Topics – Let’s Talk Real Estate – April 18, 2018

ZILLOW: MY HOUSE IS WORTH WHAT?

Whether you’re interested in buying or selling a home, you’ve probably done a little online sleuthing to find out average prices for similar homes in your area. One tool that’s become really popular for gathering home value estimates is Zillow, which uses an algorithm to “guesstimate” home values. The resulting estimates are called “Zestimates,” and while it may sound appealing, multiple studies have shown the tool itself is wildly inaccurate. In fact, there’s at least one lawsuit pending against the company that alleges the values it provides are extremely misleading – even damaging.

If you want to do a little online cost comparison, the Realtor.com website is a much better option. Even then, though, the site offer asking prices, which can be a lot different from actual final sales prices. The best option of all: Talk to an actual real estate agent with experience in the market you’re interested in. An agent is “on the ground” every day with access to all sorts of market info not available online. And that means they’re uniquely positioned to offer you the best guidance and most accurate values to get you the best price and the fastest closing – whether you’re a seller or a buyer.

 

DO YOU NEED A BIDDING WAR TO SELL YOUR HOME?

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Princeton Town Topics – Let’s Talk Real Estate – April 4, 2018

DO YOU NEED A BIDDING WAR TO SELL YOUR HOME?

There’s a lot of hype about bidding wars – after all, what’s not to love about having multiple buyers vying for your home? But the fact is, you don’t need a major bidding war to get a great price for your home. All you need is one great offer.

Unfortunately, a lot of sellers gauge the success of their listing by how many people they have competing for their home. If they only have a one or two offers during the first weekend or week of their sale, they think the sale is a flop. In reality, unless the market is super hot, having too many people submitting offers right off the bat could be a sign your home is priced too low.

A more realistic rule of thumb: Aim for one to three offers within the first 30 days after listing your home for sale. If you get more, fine. If you don’t get any reasonable offers, it’s a good sign you need to reconsider your pricing. Again, let your agent be your guide. A skilled agent can position your home so it attracts the right buyer – and all it takes is that one buyer to close the deal.

 

Beatrice Bloom