Negotiating Your Home Purchase
There is much give and take involved in negotiating a property purchase. That’s why it’s important to have a checklist of what you want to get out of the deal as a buyer. Bear in mind, the home must be appraised and the lender will be looking at the fair market value on a given property. Since property values fluctuate, your Real Estate Agent should do a comparative market analysis so you are aware of what the trends are for the area in which you are shopping. This will give you an idea as to whether the seller’s asking price is realistic. You will also want to know how long...
Read MoreWhen the Sellers Aren’t Selling
Remind Them: “Presentation is Everything!” At times the sellers themselves thwart the efforts of the Real Estate Agent. Nothing can be quite as frustrating as trying to pull all the weight when someone else is adding to the burden by being uncooperative! If you have a seller who is not making sure their home is presentable to a potential buyer, remind them that, in a competitive market with more inventory than we’ve seen in some time, presentation is everything! By eliminating points the potential buyer may find fault with and bringing out the positive amenities, they are...
Read MoreNegotiating Like a Billionaire
Donald’s Dos and Don’ts In Donald Trump’s 2004 book, Trump: How to Get Rich, he dedicates an entire section to the secrets of negotiation. I think you’ll be amazed to know how much the dealings of a multi-billionaire relate to business at any level. Here are some of the tips he shares for successful negotiation: Consider What the Other Side Wants. If you remain too focused on what you want, you’ll miss which concessions you can make that might satisfy the other side. Be Reasonable and Flexible. Unless you are never going to be negotiating again, it will hurt you...
Read MoreJune New Home Sales Soar 11 Percent
Ed Donahue of the Associated Press reports on the state of the housing market. There are signs of overall improvement with the news that existing home sales soared 11 percent last month. This increase was the largest in eight years. Another promising sign in the troubled housing market is that new home construction rose to levels not seen in nearly a year. However, housing supply is at 9 months and the median home price has declined to $206,000. Email me for a referral to a professional real estate agent that can give expert advice for your local...
Read MoreThe EPA on Home Safety: Reducing the Risks
Don’t wait for a discerning buyer to find faults in a listed property. The EPA website (http://www.epa.gov/) has tons of useful information on possible hazards in a home, and you should at least check the following conditions as part of the listing process. Radon Gas – In January of 2004, the HUD home inspection form for FHA loans (HUD 92564-CN) was modified to include information on radon content in indoor air. This form (updated again in June of 2006) is mandatory for all FHA-insured mortgages, which means a good portion of buyers may request a radon inspection as part of the...
Read MoreTrigger Leads: Don’t Be Exploited by the Credit Bureaus
While it’s an illegal breach of privacy for real estate agents or mortgage originators to sell your credit information, it is perfectly legal for credit companies to do so. For a price ranging anywhere from $25 to $100, your name and certain specifics about your credit report – including your address, phone number, mortgage history, and even your FICO score range – are sold by the credit bureaus to mortgage companies. The result is an onslaught of unsolicited phone calls and junk mail as soon as you apply for a home loan. Unfortunately, no legislation exists to prevent...
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