This is a great reminder from a team in Ohio. We have this program in our area, too. Just say the word if you're interested; I'd be happy to sign you up!
Have you ever bought or sold a home and NOT had some home improvement work to do? New appliances, fresh paint, swapping out light fixtures.....chances are no matter which side of the transaction you're on, you're going to need to make some changes!
Even the most move-in ready home we list might need some minor adjustments, so why not save some money while you're at it? And working with a REALTOR® can make that even easier! In addition to helping save you money by getting the best price buying or selling your home, thanks to a special arrangement between Lowe's and REALTORS®, a few keystrokes later you can have a 10% off coupon good towards a single purchase trip not to exceed $10,000. And we can do this twice, once for you as a seller, and again for you as a buyer after we've got your home sold and you're off to the next place!
And it's relatively simple! We punch in your name, email and key contact information into the Lowe's database, and within 24 hours you'll get an email with a printable coupon! And with several convenient locations around Warren County, you can't be too far from a Lowe's!
So ready to get started? Just let us know and we'll get you set up! And if you haven't had us over yet to consult on selling your home, you might want to do that first. Depending on the projects you have in mind, we may have some suggestions as to what buyers are loving the most (or NOT liking!).
The Liz Spear Team Elizabeth & William Spear RE/MAX Elite: Ask for us by name if you visit the office! Two locations: Lebanon & Mason, OH Office direct: 513-248-3660 Liz direct: 513-265-3004 Bill direct: 513-520-5305 Fax: 866-302-8418
I am proud to help buyers and sellers in the Greater Rochester, New York area find their dream homes. If you are considering purchasing or selling a home in the Rochester area, don't hesitate to contact me. I pride myself in providing the best possible service for my clients!
As someone who grew up in the Rochester area and couldn't wait to return after a brief stint living elsewhere, I can't say enough about how great this area is. Between the abundant water sources, fantastic colleges, opportunities for family fun, and cultural events, it really is an amazing place to live.
Finally, someone made a video that illustrates many of the positive aspects of living in Rochester! The only thing they forgot to mention is our stable housing market!
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I am proud to help buyers and sellers in the Greater Rochester, New York area find their dream homes. If you are considering purchasing or selling a home in the Rochester area, don't hesitate to contact me. I pride myself in providing the best possible service for my clients!
This is a fantastic post written by Peggy Chirico, an agent in Connecticut. It clears up some common misconceptions about buyer representation. Although it refers to some forms used in Connecticut, the ideas all apply here in New York State as well. I'm a huge advocate of buyer agency, because it always pays to have someone looking out for you and you alone!
When I am speaking for the first time with potential buyers, one of the most misunderstood aspects of buying a home concerns buyer representation. Although we have had buyer representation in Connecticut since 1996, many people still do not understand that, as buyers, they have the right to have an agent who solely represents their interests. Here are some of the most common questions about buyer representation. I hope this will clear up WHY you need buyer representation!
What is buyer representation?
When you agree to work with a buyer's agent, you have the benefit of someone representing your best interests and negotiating on your behalf. The agent has a fiduciary responsibility and pledges to you loyalty, confidentiality, obedience, accountability, reasonable care, and diligence. These are not just words; you have an agent that helps you through every step of the transaction and puts your interests above everyone else's, including her own.
Can't I just call the agent whose name is on the sign in front of the house?
You can call that agent, but you must remember that he/she is representing the seller and will work in the seller's best interests. The agent can show you the house, and you must either consent to unrepresentation (you are on your own) or dual representation. If you choose to be unrepresented party, you must sign a paper that says that you understand that. If you want the agent to represent you, both you and the seller must sign papers that you agree to dual representation, and the agent will do his/her best to represent both parties fairly. A third option is that the agent can assign another agent from her broker's office to represent you, in which case you will have designated agency. But my question to you is: Why would you not want to select your own agent who works just for you?
Won't I get a better deal if I go to the listing agent?
This is a misconception that persists among novice buyers. Some people think that an agent will talk the seller into accepting a lower offer if that agent has both the buyer and seller because the agent will be getting all the commission. The reality is that the agent may be representing both parties, but the people in control of the final outcome are the seller and the buyer. If the seller doesn't want to accept your offer, it isn't going to happen. If you, the buyer, don't want to agree to the terms, it isn't going to happen either. Wouldn't you rather have an agent who will negotiate fully on your behalf so that you don't have to worry about where someone's allegiance lies?
Can you show me properties that aren't your listings?
Yes! Not only can I show you any property that is listed on MLS but I can also show you For Sale By Owners (FSBOs). When the sellers list their homes for sale, they agree to pay the buyer's agent if they sell the home. The same is true for most FSBOs as well. The owners of FSBOs save money by not using a seller's agent, but most agree to pay a buyer's agent a commission. So if you see a property that interests, just let me know and I will arrange for us to see it.
How much does buyer representation cost?
In 99.9% of the cases, the commission is paid by the seller, so buyer representation costs you nothing. I have never had an instance where a buyer has paid my commission, even with FSBOs. The buyer representation agreement, however, will spell out that you will be responsible for my commission if the seller does not pay. But two things are important here: First, it is extremely rare; and second, we generally know ahead of time if there are any issues with the commission.
Do I have to sign anything?
Yes, our agreement is called Exclusive Right to Represent Buyer/Tenant and it outlines what each of our responsibilities are. State law requires that I can only show you other brokers' listings if we either have an Exclusive Right to Represent agreement or if I have permission from each seller to show you the property. Rather than getting permission for each property, the Exclusive Right to Represent allows me to show you all properties that are listed by any broker. When we meet, I will go over each section of the agreement so that you understand it, but essentially is says that for a period of time we will work together in an agency relationship and that I will represent you in the purchase of your new home or land. You agree that you will use me exclusively as your agent and will let others know that you have signed a buyer representation agreement. This protects you, me, and other agents by letting them know that we have an exclusive relationship.
How long do I have to sign the agreement for?
The period of time that we are under agreement is negotiable. I want our relationship to be a mutually satisfying one, and I believe that we should both want to work together. For that reason, I encourage you to select a period of time that you feel comfortable with. If you don't want to sign a long agreement at first, that's fine with me; we can always extend it later if we both agree.
What else do I need to know about buyer representation?
The other thing that many homebuyers don't understand is that buyer representation not just about finding the property and writing up the contract. A buyer's agent is critical in the steps leading up to the closing. The inspections need to be done, and inspection issues need to be negotiated. After inspections are completed, a buyer's agent will monitor the mortgage process, make sure that the commitment date is met, and make sure that the final walkthough meets the buyer's approval. Any extra services, such as coordinating attorney services, utility switchovers, and verifying that inspection issues have been completed may be part of the agent's responsibilities.
This conversation does not happen over the phone. I always meet with a potential buyer first so we can discuss each step in the homebuying process. I want to provide as much information as possible and answer any questions they have so they will feel comfortable about the process. After I have explained what buyer representation is, I will ask them to sign an Exclusive Right to Represent agreement. I want them to feel comfortable that I am going to work for them, but I also want to know that they are committed to me. We go over everything they will need to do for homeownership:
Do they understand each step of the homebuying process?
Do they understand that the monthly payment includes mortgage principle and interest, taxes and insurance?
What do they need to provide to a mortgage lender to see what they qualify for in a mortgage?
What is the timing? When do they need to move in? Do they have flexibility?
What are their criteria for their first home? Are they flexible in what they must have and what they would like to have?
Are there any other decision makers?
I hope this answers some of your questions about buyer representation. If you have any other questions, please ask. Or give me a call and we'll get started!
Peggy Chirico, REALTOR® Serving the Greater Hartford Area Prudential CT Realty peggychirico@gmail.com
860-748-8900
If you are buying or selling a home in Hartford County or Tolland County, please call me, email me, or visit my website. I would be happy to help you with your home search or provide a market analysis for your home.
This is a great post by Tish Lloyd, an agent in North Carolina. Friends and neighbors typically mean well when they give you advice about selling your house, but sometimes those well-meaning suggestions aren't really true in today's market! Here are some good hints on some tips not to listen to. When in doubt, ask your local real estate professional!
"Don't worry about cleaning up. If they can't imagine what the house looks like without your stuff out, that's their problem."
"Open Houses are a waste of time."
"You don't have to leave for showings. It's helpful if you're there to answer any questions."
"Just put the dogs in the garage. Buyers don't need to see in there, all garages look the same."
"You don't need to paint the interior. If they don't like lime green walls in the living room and canary yellow in the dining room, they can change it once they buy it."
"Clean up. How seriously do you think a Buyer is going to consider a home that's dirty and messy?"
"I've sold a fair number of homes at Open Houses. The key is to schedule and advertise properly."
"LEAVE! Please, if you do nothing else, LEAVE for showings. Give Buyers and their Agents room and time to view the house and talk. They won't feel comfortable discussing concerns or their interest if you are there."
"Take the dogs out or crate them. Every area of the home needs to be accessible during showings."
"Let me give you some suggestions on colors and where to get paint at a good price."
In order to sell your Wrightsville Beach NC home we need do everything we can to make your home shine. There's a lot of inventory right now, not doing everything in our power to make your home show well is going to hurt you. So lets work together to get your home in top showing condition and keep it that way.
I love sharing insights from blogger Steve Harney, because he really has his finger on the pulse of the national real estate market. In this post, he shares links to articles from four media organizations, all of whom advocate purchasing a home in the current market.
The best news? Contrary to what he states, prices are not falling in our area, they're remaining stable. That means it's a fantastic time to buy in the Rochester area!
Why They Are Saying to Buy A Home Now
by The KCM Crew on June 14, 2011
Despite what appears to be a non-stop wave of tough news regarding real estate, four major media players have come out this month with the same advice: It Is Time to Buy a Home! Here are the four articles and a breakdown as to why the advice makes sense.
With prices continuing to depreciate in most regions of the country, some may wonder why these four entities are suggesting to their readership that now is the time to buy. Each organization realizes that PRICE is not as important as COST. The cost of a home can go up even if prices continue to fall. Unless you are an all cash buyer, you must take into consideration the expense of mortgaging when calculating the full cost of a home. Here is some information to consider.
Interest Rates
Currently, interest rates sit at historic lows. However, Fannie Mae, Freddie Mac, PMI and the National Association of Realtors are all projecting approximately a 1% increase in mortgage rates over the next year. A one percent increase in rate negates a ten percent fall in prices.
Lending Standards
The government has proposed a tightening of lending standards called Quality Residential Mortgage (QRM). If accepted as proposed two things will happen:
There is a reason more and more financial organizations are suggesting to their followers that now is the time to buy a home: because the cost of purchasing a home is about to increase (even if prices continue to fall).
This post from an agent in Santa Maria, CA has some very interesting points! I agree completely that it pays to analyze each individual situation before deciding whether or not a counter offer is the right approach. This is definitely worth a read!
It never hurts to ask, right? How many times have you heard that expression? However, as a real estate agent, I have a front row seat and back stage pass to home buying and selling action, and I can say with absolute authority that -- sometimes it does hurt to ask. Countering a buyer’s price and terms is the equivalent of asking. And there is risk in doing that. When you are selling a home, here are a few reasons you might want to rethink countering a buyer’s offer:
1) It’s a fair offer. The offer is fair and it hits your target. What more could you want? A little more you say? You may want to resist the temptation to ask for a little more. Just because a buyer offered you what you want up front doesn’t mean there is more meat on the bone. The buyer and their agent studied the market before writing the offer and they probably reviewed the same comps you and your agent studied. They know they've written a fair offer -- it didn't happen by accident. If you counter their fair offer, they may think you are going to be unreasonable throughout the transaction, give up, and simply walk away. Think twice before countering a fair offer.
2) It was prepared carefully. As an agent I know presentation matters. You may not be able to determine whether an offer is well prepared, but your agent will know. In my opinion, a well prepared offer leaves out unimportant requests, and includes every single piece of information necessary to make a decision. A good buyer’s agent is going to counsel their buyer about how to make a good offer, what to leave out, and what to include -- and a serious buyer will listen. When I receive a well prepared offer, I not only know that the buyer is serious, I know that they are worth taking seriously. Think twice before countering a serious buyer with a well prepared offer.
3) You will interfere with the buyer’s momentum. Yes, there is a momentum to the home buying process. You may have forgotten that if it has been awhile since you bought a home. Countering can put a kink in momentum -- and it can kill the enthusiasm of a buyer. Especially in today’s market where they must withstand a whirlwind of negative news reports, the opinion of their family, friends, (and sometimes their agent), as well as hurdle through the current invasive loan pre-approval process in order to write an offer. Countering can sometimes feel like a road block to a buyer who has already navigated an obstacle course. Think twice before slowing a buyer’s momentum with a counter offer.
4) The market is declining. This has to do with leverage. If the market is declining in your area, the buyer is aware of that fact as well. So, they may be absolutely insulted that anyone would counter any offer they make in that type of environment. You simply may have no leverage in your current market. This is true even on a short sale -- if the market is declining and the offer is reasonable -- it is sometimes better to let the bank do the countering, if they choose to do so. Think twice before countering in a declining market, lest you find the value of your home declining with it.
5) A counter is a rejection and some people don’t take rejection well. This reason is almost completely emotional and psychological. Simply put, not every buyer is up for a nice spirited game of negotiations. You might return that serve to find that the other player has walked off the court. Some people just can’t handle rejection. Other people like to be in control. And, some people just don’t like to play what they view as “a game.” I’ve found that there are people who will never ever respond to a counter offer. They typically “don’t do bidding wars” and they “don’t do counter offers” either. Think twice before rejecting that offer with a counter.
Every situation is unique, and the decision of whether to counter an offer should reflect both the current market for your home and the particular offer that is presented. However, I do believe that the decision to counter an offer should not be made lightly. At a minimum, you should think twice.
Tni LeBlancis an independent Real Estate Broker, Attorney, and Short Sale Agent. She is a Certified Distressed Property Expert (CDPE) and Certified HAFA Specialist (CHS) serving the Santa Maria, Orcutt and Five Cities area of the Central Coast of California.
If you are considering ashort sale of your Santa Maria, Orcutt, or Nipomo home, you should seek out an experienced Central Coast Short Sale Agent to guide you through the process. If you would like a short sale consultation, please call my office to schedule a meeting or a telephone consultation at (805) 938-9950. * Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advice. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement. Mint Properties is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.If you stop paying your mortgage, you could lose your home and damage your credit rating.
This is a fantastic post from Karen Crowson, an agent in Livermore, CA. Emotions always run high when buying or selling a home, and it can be very hard to see things from the other side's perspective! Karen does a great job showing that there are two sides to every story. Being cooperative and patient with the other side can go a long way. Remember, they're probably just as stressed out as you!
The Seller’s Point of View You are leaving a house you’ve called home for a number of years. You’ve been asked to move out your personal belongings, so the place hardly seems cozy or familiar anymore. You’re exhausted from keeping the place spic and span – show-ready at a moments notice.
Keeping after the kids and all their stuff is a job in and of itself, and being displaced repeatedly on weekends for open houses and showings is becoming quite annoying.
You’ve taken good care of the house for such a long time, and it finally paid off. You have an offer, and you and the buyers have come to agreement. But now it seems that the buyer ordered every inspection known to man, and was very aggressive in asking for one repair after another. Figuring all of that out means more people traipsing through your house, poking, prodding and who knows what? It’s very disruptive – you have so much to do to get ready for this big move!
They want to measure, photograph, match colors, re-visit – these extra visits are making you crazy! This house is so nice – close to perfect even! Why do they need to change everything? Isn’t it good enough for them – especially since they got it for such a screaming deal?
Enough already – can’t this all just wait until they own the place?
The Buyer’s Point of View We’ve looked at a lot of homes. We’ve seen some in fabulous condition, but they’re too far from everything. This one has a great location and even though it’s had some nice updates to the kitchen and baths, there’s still a ton we have to do. The carpet’s worn. The paint colors are dark, and splotchy. The yard is very overgrown, so we’ll need to deal with that. And the heater and AC are old. We’ll no doubt have to replace those very quickly.
We were able to negotiate the price a bit, but we still have a lot of money to spend getting the place up to date. After all, the home we moved from had everything brand new. This feels like a bit of a step back, but this is where our job has taken us.
We could see quite a few ‘sins’ cosmetically and we were ok with those. But boy, we didn’t expect some of the things that came up as a result of the inspections. We still want the house and with the seller willing to make some concessions, we’ll put in a little more cash to make those other repairs as well.
But we’re getting a bit stressed out. There is some reluctance on the part of the seller to provide access to the house. We understand that they are packing to move, but the boxes and chaos doesn’t bother us. We have a big job ahead of us, and getting estimates and measurements helps us figure out what we can actually do right now, before move-in date.
With two little ones, it’s really hard to have any type of construction work after we move in. And we’re concerned about the dust and paint fumes a baby might breath in. Don’t they know how hard it is to move into a house, and then have to move everything back out so contractors can do their work? We only have a short window to get everything done while we have time off from work.
Why do they seem so concerned that we’ll be making changes to the place? After all, it will be our house soon.
You can see that both sides have legitimate concerns in this often stressful and emotional time. While difficult, understanding the situation from the other party’s perspective, will often help ease the tension. Usually, those sellers will soon be buyers, and one day, those buyers will be on the selling side.
Isn’t it good to know that most escrows are over in 30-45 days?
How many times have you seen a photo like this in the MLS?
What was the agent selling, the furniture?
And this one...
Couldn't the agent have taken the time to get out of the car??
It always amazes me when agents don't take the time to take high-quality photos of their listings. Since over 90% of today's buyers start their home searches on the internet, the MLS photos are the public face of that property! Buyers decide whether or not that home is worth seeing based on those photos. Don't some agents want their listings to sell?
Now, I'm not saying agents need to hire a professional photographer to capture each new listing. I don't. I would just love to see everyone in our profession take the time to try different angles and lighting. Since the advent of digital cameras, we can take tons and tons of photos of each listing without wasting any film. Most importantly, though, I'd like to see every single agent get out of the car!!
Personally, I take great pride in my listing photos. I put forth the same effort on every home, whether it's listed for $60,000 or $160,000. I take quite a bit of time getting the photos just right. Moving items around, stepping forward and back... my sellers probably think I'm obsessive! But it's completely worth it to me, and I believe my sellers appreciate it, too.
Please, if you're considering selling your home, don't hire someone just because they say they're the "neighborhood expert" or you've seen their signs around. Take the time to ask friends and family for referrals, and talk to a few agents to see what each one has to offer. Photos are just the tip of the iceberg; some agents just put forth more effort to sell each of their listings. It pays to find an agent who will really take the time to work for you.
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I am proud to help buyers and sellers in the Greater Rochester, New York area find their dream homes. If you are considering purchasing or selling a home in the Rochester area, don't hesitate to contact me. I pride myself in providing the best possible service for my clients!
I've been lax about blogging lately, but today I came across an article I couldn't resist sharing. It was written by Steve Harney, whose insights I've shared before. I often hear negative perceptions from consumers about the market, and in many cases they're just not true. Yes, sales are down from this time last year, but back then they were artificially inflated by the home buyer tax credits. As Steve says here, there's no doubt about it, homes are selling!
Almost 14,000 Houses Sold Yesterday
by The KCM Crew on May 3, 2011
One of the biggest misconceptions in today's housing market is that homes are not selling. That is simply not true. Last month's Existing Sales Report from the National Association of Realtors (NAR) showed that homes were selling at an "annual rate of 5.10 million". That's an average of 13,973 every day - 365 days a year!
And the monthly Pending Sales Report, which measures the number of houses going into contract each month, has showed increases in six of the last nine months prompting Lawrence Yun, NAR's chief economist to say:
"Since reaching a cyclical bottom last June, pending home sales have posted an overall gain of 24 percent and demonstrate the market is recovering on its own. The index means modest near-term gains in existing-home sales are likely."
We realize that 40% of the sales are distressed properties and that 22% of buyers are investors. Yet, that still doesn't negate the fact that homes are in fact selling... and 60% of them are NOT foreclosures or short sales.
And Yun believes this uptick will continue:
"Based on the current uptrend with very favorable affordability conditions, rising apartment rents and ongoing job creation, existing-home sales should rise around 5 to 10 percent this year."
Bottom Line
Homes are selling. You probably will need to offer a compelling price if you put your house on the market. But if you do, it will sell.
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I am proud to help buyers and sellers in the Greater Rochester, New York area find their dream homes. If you are considering purchasing or selling a home in the Rochester area, don't hesitate to contact me. I pride myself in providing the best possible service for my clients!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Want 10% off at Lowe's? Work With a REALTOR®! 
"Don't worry about cleaning up. If they can't imagine what the house looks like without your stuff out, that's their problem."
Despite what appears to be a non-stop wave of tough news regarding real estate, four major media players have come out this month with the same advice: It Is Time to Buy a Home! Here are the four articles and a breakdown as to why the advice makes sense.
It never hurts to ask, right? 
1) 
2) 
3) 
4) 
5) 
Every situation is unique, and the decision of whether to counter an offer should reflect both the current market for your home and the particular offer that is presented. However, I do believe that the decision to counter an offer should not be made lightly. 
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