Princeton Real Estate

Beatrice Bloom, Princeton Real Estate Agent

Seller Tips

HOW MOTIVATED IS THE SELLER?

price-reducedPrinceton Town Topics – Let’s Talk Real Estate – October 2, 2013

HOW MOTIVATED IS THE SELLER?

 

One of the most exciting moments in buying a home is when you make an offer on a property. When deciding on a fair offering price, you should take the situation of the seller into account. If the seller is desperate to close the sale, they may be open to lowering the price and/or offering incentives to sweeten the deal.

 

The seller might not say they are desperate, but there are certain clues that can point to their willingness to negotiate. For instance, find out how long the home has been on the market. If it has been listed for several months with several price reductions, the seller might accept a lower offer.

 

Ask your REALTOR® to tell you what the seller originally paid for the home, and what equity they have in it. This can give you an idea on what they hope to get from their sale.

 

REALTORS® are expert negotiators, so be sure to use their help to get the best deal.

NEGOTIATING THE BEST DEAL

dealPrinceton Town Topics – Let’s Talk Real Estate – September 25, 2013

NEGOTIATING THE BEST DEAL

 

Whether you’re a home buyer or seller, you want to feel good about the outcome of your real estate transaction. Negotiating in real estate is complex, but there are a few basic issues that play a key role in determining the outcome:

 

First, understand the market in your area. Is it a seller’s or a buyer’s market? This will affect your ability to ask for a better price.

 

Next, find out who has the most leverage. If you are the seller and have several qualified offers, then you are in a strong position. But if you need to relocate immediately and have only 1 offer, then the advantage goes to the buyer.

 

Know the details. While sales price is important, there are many other contingencies, like repair agreements, closing costs and other upgrades that can significantly alter the final deal.  Have experience on your side. Your REALTOR®, who has been working real estate deals for years, is your best asset for success at the negotiation table.

 

HOME IMPROVEMENT FINANCING

home loanPrinceton Town Topics – Let’s Talk Real Estate – September 11, 2013

HOME IMPROVEMENT FINANCING 

When it’s time to upgrade your home, there are several different financing options available – from store credit programs to home equity loans.

 

Sometimes you can get great deals from your local home improvement store and it’s worth checking them out. Just don’t be swayed by sales hype, and do in-depth comparison shopping first.  If you have some equity in your home (your property is worth more than the mortgage owed), you can apply for a Home Equity Line of Credit (HELOC) that provides you with access to money in as-needed installments. Repayment is flexible and the interest is tax deductible.  If you prefer a fixed interest rate, then a Home Equity Loan might better suit your needs. You receive your money in one lump sum to be repaid over several years, so it’s best to use the money for long-term impact projects, like a new roof.

 

Before you improve your home, talk to your Realtor about what projects will give you the best resale value.

 

SHOULD YOU REMODEL WITHOUT A PERMIT?

permitPrinceton Town Topics – Let’s Talk Real Estate – August 21, 2103

SHOULD YOU REMODEL WITHOUT A PERMIT?

 

The practice of home remodeling without a permit is a surprisingly common occurrence, and there are a lot of good reasons why homeowners decide to forego that part of the process.

 

Remodeling permits cost money. Fees vary greatly, but often amount to around 1% of construction costs. Sometimes city codes pose unreasonable requirements that add extra expenses. Getting a permit is a hassle; there is too much red tape and often a backlog of applications, which can cause project delays.   But bypassing the permit can have real consequences, especially when it comes time to sell the home.

 

According to the American Bar Association “Legal Guide to Home Renovation”, lenders often refuse to give loans on homes with permitless renovations. To correct the problem, the city may impose a large fine and require the seller to tear down the remodel and start again with a permit.

 

No matter what size, if you’re planning a home renovation project, avoid future headaches and make the extra effort to get a permit.

 

SHOULD I SELL BEFORE I BUY A NEW HOME?

thPrinceton Town Topics – Let’s Talk Real Estate – August 14, 2013

SHOULD I SELL BEFORE I BUY A NEW HOME?

 

There is no doubt about it, selling your home while buying your next one can be difficult because of all the timing and financial issues that are involved. But whether you decide to purchase your new home before or after you sell your current one really depends on your unique situation.

 

If you sell your home first, you have the advantage of cash in the bank to purchase your new house, and time to get pre-approved for a new loan. This approach works well if you are relocating because of a new job.  However, it may require you to rent while you hunt for your new residence.

 

One way to give you more flexibility during the transition is to get a temporary “bridge loan”. This way you can purchase your new place and finish remodeling projects before you move in.  The downside is that you will have to carry two mortgages in the interim.

 

Talk to your REALTOR® about which strategy best fits your needs.

 

THE REALTOR’S “OTHER” JOB

housePrinceton Town Topics – Let’s Talk Real Estate – July 24, 2013

THE REALTOR’S “OTHER” JOB

 

A real estate agent’s job is to sell your home for the best price, within the shortest period of time.  Another essential part of the agent’ responsibility is to make the sales process as easy as possible for you, the seller.  Your Realtor can eliminate much of the hassle involved in selling your home, while providing you and your family with the “peace of mind” you need during this sensitive time.  Your agent can help you avoid the inconvenience of having buyers stop by unannounced to see your home. A Realtor’s job includes screening buyers to avoid wasting your time with those who are not financially qualified or who are “just curious”.

 

When you list your home with a real estate professional, you receive an array of valuable services, including the widest possible exposure through the Multiple  Listing Service and Internet websites.  These are the best means to attract the most qualified buyers to your home.

 

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