Seller Tips

MOVIN’ ON UP?

Princeton Town Topics – Let’s Talk Real Estate – March 7, 2007

MOVIN’ ON UP?

Many people buy their first homes before they have a family or have become established in their careers. A few years later their life situation has changed and they discover that they need more space or can afford a larger mortgage based on their increased income.

Changes in lifestyle often create changes in housing needs. Along with a big promotion, you may be expected to do more entertaining. This translates into the need for a more spacious kitchen and additional living space for entertaining. If you are starting a family, it may be time to trade your sophisticated home in the city for a house that has a big yard and is located in a good school district. If changes in your life have prompted thoughts of moving, I will be happy to discuss all the possibilities with you. Spring is a great time to determine what your present home is worth and to show you homes that meet your current needs.

PAY ATTENTION TO THE DETAILS

Princeton Town Topics – Let’s Talk Real Estate – February 28, 2007

PAY ATTENTION TO THE DETAILS

The little things–both positive and negative–can make a big difference to prospective buyers who are interested in your home.

Before you list your home, go through the house with a careful eye. Fix any loose doorknobs, popped screen doors, and loose grout around the tub and shower. A coat of fresh paint can work wonders to dress up a house. Wash the windows, hang a pretty plant from the bathroom skylight, and clean out the closets. Arrange the furniture to make the room look larger. If the rooms look cluttered, put your extra furniture into storage. You can brighten up a room by increasing the wattage of the light bulbs. Going the extra mile to showcase your home will pay significant dividends when it’s time to show it to buyers. The less imagination people must bring with them when they look at your house, the greater your chances of selling your home quickly and for top dollar.

THE SHIFTING MARKET

Princeton Town Topics – Let’s Talk Real Estate – February 21, 2007

THE SHIFTING MARKET

Some weeks there seem to be several buyers for every house listed for sale and then there are times when houses seem to remain on the market for months with no real activity. You also hear stories about sellers who got sale prices that exceeded their asking price.

Many variables can affect the real estate market; it can go from a sellers’ to a buyers’ market, and back again in a short time. In a normal market, price and interest rate are the two most important factors. When interest rates are low, prices may edge up as buyers’ purchasing power increases. As the interest rates go up, monthly mortgage payments are increased, and this may temporarily eliminate some buyers from the marketplace. In the shift toward a buyers’ market, homes will sell if they are in a good location and priced well. Whatever the market conditions, a professional Realtor can quickly sell your home for top dollar.

HOW RISKY ARE CONTINGENT CONTRACTS?

Princeton Town Topics – Let’s Talk Real Estate – February 14, 2007

HOW RISKY ARE CONTINGENT CONTRACTS?

Buyers walk into your home and fall in love with it, but they will have to sell their home before they can buy yours. Their offer contains a contingency clause that makes their purchase dependent upon selling their present home. Should you accept their offer?

Your decision should be based on several factors. Are they trying to sell their home themselves (a risky proposition!)? How long has it been on the market? If the house doesn’t sell, can the buyers take out a bridge loan or make other arrangements to complete the purchase? How important is timing for you? Will the buyers agree to let you continue marketing your home and accept a non-contingent contract (and void theirs) if their house does not sell? There should be a release clause in your contract that allows you to accept a better offer should one come along.

Contingent contracts often work out well if you enlist the help of a professional.

BE LOYAL TO YOUR REALTOR

Princeton Town Topics – Let’s Talk Real Estate – February 7, 2007

BE LOYAL TO YOUR REALTOR

The sale or purchase of real estate is a complex transaction in which innumerable obstacles can arise that can be utterly disconcerting to the typical homebuyer or seller. Professional real estate agents are trained to handle the many facets of buying a home. A good Realtor is an invaluable asset to your venture if you are in the market for a house.

When you find a Realtor who inspires your confidence and trust, it is good to enter into a committed working relationship with that person. Concentrating your property search with one Realtor will allow the agent to become totally familiar with your particular housing needs, your preferences relative to location, size and home amenities and your financial capacities.

Maintaining loyalty to the Realtor of your choice will serve you more than scattering your attention among several agents. When a Realtor feels your commitment, he or she will devote great energy to finding the right home for you.

IS THE REAL ESTATE CLIENT THE BUYER OR SELLER?

Princeton Town Topics – Let’s Talk Real Estate – January 31, 2007

IS THE REAL ESTATE CLIENT THE BUYER OR SELLER?

Whom does the Realtor represent in a transaction, the buyer or the seller?

Until recently that question was never asked because the answer was always the same. Traditionally all the marketing professionals involved in real estate transactions were legally and ethically obligated to conduct business on behalf of the seller. They may have aided the buyer, but their client was the seller. Today that is not necessarily the case.

In a time of increasing specialization, a real estate agent can represent the homebuyer, functioning solely as the buyer’s broker. In this case, the sales professional helps the buyer locate a home, negotiates the price and the terms of the sales agreement, and is responsible to the buyer only, for an agreed-upon fee or a percentage commission.

In any real estate transaction, all parties have the right to know whether the Realtor is representing the buyer or the seller or both! Dual Agency is permitted in New Jersey, by mutual agreement, and must be disclosed.

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