Princeton Real Estate

Beatrice Bloom, Princeton Real Estate Agent

Seller Tips

COMPLETING INSPECTION REPAIRS

Princeton Town Topics – Let’s Talk Real Estate – June 9, 2010

COMPLETING INSPECTION REPAIRS

 

When you sell a house, the buyers will probably schedule a home inspection.  If the inspector finds areas that need attention or repair, the buyers may want to discuss some of the problems with you as a condition for proceeding with the sale.

 

When you get the buyers’ list, remember that some of the items may be negotiable.  Sales contracts usually require that all systems be in working condition, but some buyers may make requests that go beyond the normal obligations of the seller.  They may ask for a new roof or certain structural repairs that you may not want to make.  Your agent can help you assess the risks of just saying “no” to buyers who are making demands you consider unreasonable.  Usually compromise is the best approach.  If you just decline the requests, the buyers may back out of the deal. It’s usually best to handle the needed repairs now, because the next buyer will probably have the same concerns.

 

KEEP YOUR HOME MOLD FREE

Princeton Town Topics – Let’s Talk Real Estate – June 3, 2010

KEEP YOUR HOME MOLD FREE

 

Experts are saying that not only is mold in your home bad for your health, it can also impact the re-sale value of your property. Here are a few tips to follow to keep your home in good mold-free condition:

 

1.    The best mold prevention is elbow grease. Wipe down bathroom walls and get under sinks using cleaning products that discourage mold growth.

2.    Ventilation fans were created to get moisture away from steamy bathrooms, so make sure yours are doing a good job.

3.    Keep gutters clean. Dead leaf buildup is a great place for mold to thrive.

4.    Insulate ducts. Conditioned air going through ducts can form condensation. Any moisture buildup will cause mold to grow which will eventually affect the air quality of your home.

 

The extra effort you make to keep your home free of mold will pay off in the end with a healthy house for your family and added value when it comes time to sell.

 

WAITING FOR YOUR MORTGAGE LOAN

Princeton Town Topics – Let’s Talk Real Estate – May 26, 2010

WAITING FOR YOUR MORTGAGE LOAN

 

It is not unusual for homebuyers to feel that the lender is being very picky during the loan approval process.  You have provided all kinds of information, and then the lender asks for more.  Although the loan approval process can be tedious, it helps to remember that none of this is personal!

 

Some lenders have more stringent requirements than others, but every lender requires a substantial amount of documentation on a mortgage loan.  They must verify employment, credit history, and recent financial transactions involving your liquid assets.  If your Visa payment was late, they may ask for a letter explaining why.  If you are self-employed, they will ask for several years of tax returns and probably a year-to-date profit and loss statement.  Their regulations require them to document everything.  And while the loan officer may know that you are a good risk, the underwriters must be able to defend the loan to a federal bank examiner or auditor.

 

THE “FIXER-UPPER”

Princeton Town Topics – Let’s Talk Real Estate – May 19, 2010

THE “FIXER-UPPER”

Most buyers want a home that is in tip-top condition and ready for them to occupy, but many homes go for lower prices because they need work.   Whether you are buying the property for yourself or as an investment, choose a “fixer-upper” that is in a good location and structurally sound.  It should be priced enough below market value to allow for a profitable re-sale after the work is completed.

 

Inexpensive cosmetic improvements often give the greatest return– paint will increase the value three times for every dollar invested.  Landscaping, carpeting, and light fixtures are other affordable improvements.  Expensive structural improvements, such as a new roof, plumbing, or wiring usually do not add as much to the market value of a home.  Remodeling a kitchen will rarely add more than the cost, but new appliances usually give a fine return.  An updated bathroom is the best renovation from an investment point of view.  It is important to talk to your Realtor before making any significant improvements.

 

THE REALTOR AS GO”‘BETWEEN

Princeton Town Topics – Let’s Talk Real Estate – May 12, 2010

THE REALTOR AS GO”‘BETWEEN

 

People who try to sell their own homes begin to appreciate the expertise of professional Realtors as soon as their first offer comes in.  They want to sell their home, and they have found prospects who want to buy.  But what happens next?

 

When the negotiation process begins, things can get “sticky”.  There are personalities involved, and real estate transactions rarely bring out the best in people.  The buyers may seem unreasonable if they make an offer that is considerably less than the asking price, and the sellers may feel slighted by such an offer.  At that point the buyers may become offended by the sellers’ attitude.  When professional Realtors are involved, the process is much less adversarial.  The two parties see very little of each other until the rough edges have been smoothed out.  Good Realtors know how to keep personalities out of the transaction and to help both sides reach a mutually agreeable compromise.

 

STRATEGIC PRICING

Princeton Town Topics – Let’s Talk Real Estate – May 5, 2010

STRATEGIC PRICING

 

When you decide to sell your home, your next decision is–“How much should I ask?”  If you ask too little, you could sell quickly but lose money.  Asking too much for your home could cause it to sit on the market without an offer.

 

Your Realtor wants to sell your home as soon as possible, for the best price.  The professional agent will use a Comparative Market Analysis to determine the price for your home.  You may be advised to reduce the asking price if buyers fail to appear after a certain period of time.  If you are serious about selling your home, you should take your Realtor’s advice.  The first price reduction must be enough to attract a new set of buyers and hopefully multiple offers.   The monetary value of a house is only what someone is willing to pay for it, but if the market analysis is done correctly, you will get the maximum amount–and a timely sale.

 

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