Archives
April 2008
When beginning your home search, you should have a good idea of the features you want - the number of bedrooms and baths, a large or small yard, modern kitchen or office space. Even more important, however, is where it will all be located. The community in which you will live will determine your whole way of life.
Do you have or plan to have a family? Consider proximity to schools and how many other children are in the neighborhood. Have a job in town? Think long and hard about your commute. What shopping and dining options are close by?
Even if you don't have a family, it's still wise to select a neighborhood in or near a district with good schools. No matter what your plans, you should always be considering the potential resale value of your home. Future buyers will likely put good schools near the top of their priority list.
Be aware of how much homes in the area have appreciated over the last few years to get a good indication of the quality of the neighborhood. Of course, a real estate professional in the area will be very familiar with all the communities that interest you - their character and strengths and weaknesses. Aside from driving around and talking with residents, the agent is your best source of information for making this all-important decision!
11:29 AM - Apr. 28, 2008 - {0} -
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You’ve heard it a million times, but it’s a cliché because it’s true – First Impressions Count. And even though “Don’t judge a book by its cover” is also a popular cliché, buyers tend to ignore that one when comparing potential home purchases.
Put yourself in the buyers’ shoes and step out to the curb to take a look. See anything that might not make the impression you desire? Consider the following “first glance” improvements.
The front door should be inviting – paint or stain the entrance if it shows signs of chipping or peeling. Have a front porch? Dress it up with container gardens and sweep regularly, making it an attractive “outside room.”
Check for other signs of peeling paint around the exterior and touch up where needed. Remember that buyers will be comparing your home to other similar homes, and every little detail that makes yours more appealing will pay off.
Of course, your landscaping makes an obvious first impression, so remove any dead or dying debris, fertilize the lawn and plant some flowering bushes if you need a little color.
Finally, your home looks great, so make sure it’s well lit for the show! Don’t overdo it, but do offer a well-lit doorway and walkways, and even “uplight” your better landscaping elements. If you show buyers “We love this home,” then so will they!
11:13 AM - Apr. 19, 2008 - {0} -
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Learn this up front . . . who represents whom?
In a very high percentage of all home sales, a real estate agent is involved. To buyers and sellers alike, it is important to know whom the agent is representing.
Where agents are employed by, and thus represent, the interests of property owners, the sellers pay the agent a fee in exchange for the agent's expertise in locating suitable buyers for their home. The agent has a fiduciary relationship with the sellers, and an obligation to pursue a course of action in their best interests.
When the agent represents the sellers, what relationship exists between that agent and any buyers who are shown the home? The relationship is that of a salesperson/customer. The agent is obligated to treat the customer honestly and fairly, but is clearly looking out for the best interests of the property owners.
Can buyers hire an agent to represent them? They certainly can. Just as homeowners sign an exclusive listing agreement with their agent, buyers can hire the services of an agent by signing an exclusive buyer agency agreement. The buyer has the right to expect the agent to negotiate a purchase in their best interests, paying special attention to price, terms, inspections, and closing details that benefit the buyer.
Homebuyers who employ a buyer's agent also have the obligation to compensate the agent for services rendered. There are a variety of compensation plans that should be discussed directly with the agent.
Dual agency is a third alternative. In dual agency, buyers and sellers are represented by the same agent, a situation that carries with it an inherent conflict of interest. When buying or selling a home, ask the agent who is being represented, then proceed with an informed decision.
11:38 AM - Apr. 9, 2008 - {0} -
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