karen feltman realtor: Buyers: Getting on the Same Page is the First Step
- 02/04/19 05:15 PM
When I first meet with a homebuyer, whether they have purchased a home previously or if they are first time buyers, I give all prospective buyers their own wants and needs survey. It is important that they complete these independently for a couple of reasons.
1. You may not realize how important something is to the other person. For example, I helped a young couple last summer in their home search. They had been married for about 2 years and when completing their surveys, the wife indicated a must have of a formal dining room. The husband had no idea that this … (0 comments)
karen feltman realtor: Is it Better to Have Loved and Lost? Maybe not in Real Estate...
- 01/29/19 06:56 PM
Is it better to have loved and lost than to have never loved at all? Maybe in some cases, but not in real estate. The one that got away can be a determining factor as to whether a buyer continues to work with an agent. I received this question over the weekend.
Karen, we had written an offer on a home that we loved with a previous agent and we were competing for the house. We didn't win. Our agent wasn't the same after that. It became more difficult to get her to show us houses that came on the market because … (0 comments)
karen feltman realtor: Don't Forget to Check the Dishwasher!
- 01/25/19 08:28 AM
It is one of the last places that you think to check when you are moving out. You go through the rooms and look in the closets, you look under the sink in the kitchen, you open the linen closet and make sure you didn't forget anything. You might even open the mailbox on your way out, just to make sure nothing is in there before you drive away. But what about the dishwasher?
Depending on how you live and do the dishes, there may be dirty or clean dishes in there. In our house, if there are dishes in the sink, … (20 comments)
The first one: The buyer sent her new license to the new address. She didn't want to chance it going to the old address and with the timeframe estimate, it seemed like a safe bet. Luckily, the seller left it on the kitchen counter for us when we went through the house for the final inspection this week. Whew.
The second one: My buyer called me to let me know that a large package from Amazon was received at their house today. It was for the previous owner, who moved a week … (2 comments)
karen feltman realtor: Sellers: Should You Accept the First Offer?
- 01/16/19 06:13 PM
There are a few schools of thought on this one. Ultimately, it is the seller's decision on whether or not to disclose to all potential buyers that there is an offer on your home. And whether you should accept the first offer depends on your time on the market and whether the offer is perfect for your situation. Here is the scenario that led to this post:
"Our home has been on the market since before Christmas, but we have now moved out and lowered the price. We have received an offer but there are several showings on our house tonight. Are … (3 comments)
karen feltman realtor: Sellers: Is Your Home Pet Friendly?
- 01/14/19 07:55 PM
Have you ever thought about your home from a pet owner's point of view? In our little corner of Iowa, most of the homes that we build and sell have basements. Sometimes the basements are only really suitable for the laundry and for storage, and sometimes it doubles the size of the house in finished space. And sometimes, a basement is where you might put the litter box for a cat or a kennel for a dog.
Last summer, I had listed a home that had no basement. But it had a special room off of the kitchen and also contained … (2 comments)
karen feltman realtor: Buyer Beware: Do You Really Want to Represent Yourself?
- 01/14/19 07:22 PM
Over the weekend, another agent in my office had posted a scenario that sounded all too familiar. The buyers had looked at several homes with the agent, including one that was for sale by owner. The buyers then went back to an open house at the FSBO, this time without their agent, and the for sale by owner convinced the buyers to dump their agent. The seller stated that the buyers could use their attorney and save $8000... Since the buyers really liked the house and it was listed at the top of their budget, they decided to write an offer … (2 comments)
karen feltman realtor: Sellers: How Do Buyer Inspections Work?
- 01/08/19 01:21 PM
At the point of listing, we will have a discussion about inspections while preparing the property for the market. Based on the age of the roof, furnace, central air, water heater and other appliances that are included in the sale, a home warranty may be enough to calm any fears a buyer may have. However, if there are things that are a concern, such as peeling paint on the trim, a roof that is close to needing replacement, or a 30+ year old furnace...more may need to be done as many loans will not allow these issues. By calling for estimates … (1 comments)
karen feltman realtor: Buyer Tip: What are Closing Costs and Prepaid Expenses?
- 01/07/19 06:13 PM
What are closing costs? When you select a bank or credit union for your financing, they will go over a good faith estimate of costs that you can expect at the closing. Closing costs can be paid by you or you may ask for the seller to credit you for a portion of these costs. When you write an offer for a home, your REALTOR can request that the seller contribute X amount for buyer's closing costs and/or prepaid expenses. What is the difference between closing costs and prepaid expenses? Let's take a look at each of them.
Closing Costs--These are the … (1 comments)
karen feltman realtor: Buyer Tip: How Do You Choose a Loan?
- 01/07/19 05:52 PM
There is a popular misconception out there that in order to obtain a mortgage, you must have 20% of the purchase price saved. This is no longer true, and has not been true for a very long time. There is no need to break the piggy bank and hand over all of your savings in order to buy a home! There are several programs out there that allow potential new buyers to put down much less than you may think.
FHA loans: These are federal backed loans funded by the Federal Housing Administration and require just 3.5% of the purchase price as … (0 comments)
karen feltman realtor: Buyers: Have You Met with a Lender Yet?
- 01/06/19 06:47 PM
During my open house this weekend, I had the opportunity to talk with over 10 different buyers. Out of those buyers, less than half of them have been to a lender to obtain a pre-approval letter. I was shocked. As I talked with the buyers that had not met with a lender, I asked how they had determined which houses that they had on their list to go through. I explained to them the importance of meeting with a lender sooner than later. Especially since there were so many interested buyers in the house, they were at a great disadvantage in … (5 comments)
karen feltman realtor: Seller Tip: The Best Feedback is an Offer!
- 10/22/18 05:19 PM
How many times is your home shown and you don't receive any feedback from the buyers agent? It actually happens more than you think. There are several reasons that feedback may be delayed or non-existent. I know. It feels like time has stopped when you are waiting (albeit impatiently) to hear what the buyers thought of your home.
Sometimes agents are showing 10 houses in a day, which can be to one buyer or maybe 3 or 4 and they are busy! They need time to look at their notes before they submit feedback. And trust me, you want them to send … (5 comments)
karen feltman realtor: Buyer Tip: Do you Know How Your Agent Works?
- 10/22/18 04:05 PM
When you are looking to purchase a home, you may meet dozens of agents whether through stopping into open houses or a referral from a friend or co-worker. Keep in mind, you will want to interview several agents before you choose one to represent you. This is a huge investment. And just because the agent was a great fit for your sister or friend, they might not be for you!
How do you like to communicate? Can you answer the phone during the day or when you are at work? Do you prefer email or text durimg your work hours? When are … (3 comments)
Let me back up a second...in case you don't know what I mean, which means that you have not experienced online dating...you would want a buyer to "swipe right" to get to know you better. After all, just like the dating apps, your home is judged within seconds within the first few pictures. If the first 5 photos don't show your wow factor, the buyer has already "swiped left" and is on to the next house.
If a picture says a thousand words, a short video showing the best features of your home is like … (14 comments)
karen feltman realtor: Buyers: Will you Accept Being a Backup Offer?
- 08/30/18 03:19 PM
In fast moving markets, many listings are sold in the first few hours or days on the market. But more and more sellers are continuing to show their home....in search of backup offers. What does this mean to you as a buyer? And why would sellers opt to do this? I can answer those two questions in this post. Then you can decide if entering into this type of offer benefits you in the long run.
What does a backup offer mean to a buyer? A backup offer is when the sellers have already accepted an offer on their home, but due to … (2 comments)
karen feltman realtor: Is Your Skin Thick Enough....to Sell Your Own Home?
- 06/26/18 07:37 PM
I mean think about it.....if you needed to sell your home tomorrow, what would you do first? If you are an agent or married to one, you would know that your first call would be to a professional. But what if you are a successful professional in another field? Would you try to sell it on your own to save the money? Or maybe your last agent made it look so easy, that you think that you can do it yourself?
In addition to spending time marketing your home, there is so much more to selling a home than putting it for … (1 comments)
karen feltman realtor: Buyers: There was a Line to see the House!
- 04/10/18 09:32 AM
I feel compelled to share a recent experience that I had as a buyer's agent in Cedar Rapids this past weekend. This is the third instance of this practice that I have seen so far this spring in this price point.
The buyer that contacted me on Zillow was asking about a property that morning. The problem was that they were out of town for the weekend and wondered if they might be able to see it this week. After looking at the property on the MLS, reading the agent remarks that no showings would be allowed until the open house and … (2 comments)
This weekend, I had two different buyers at were interested in two different new listings. The first buyer couple saw the house and wanted to "sleep on it". Which is fine, I get it. After explaining that this particular home would sell quickly and it would be difficult to find another like it, we parted ways. But by the next afternoon when they decided to make an offer, the house was already gone. Other buyers had slept on it the night … (8 comments)
You will love the view of the pond from this beautiful walkout ranch in North Liberty! Convenient Corridor location between Cedar Rapids and Iowa City/Coralville with easy access to entertainment, shopping, recreation, schools, and area employers in both areas! Over 2500 sq ft finished with 4 bedrooms, 3 baths, open floor plan with wood floors in the kitchen, main floor laundry and lots of storage. The master suite features a view of the trail and pond, private full bath, and walk in closet. The other two bedrooms on the main level … (10 comments)
You will enjoy the open floor plan of this gorgeous ranch! There are 4 bedrooms, 2 baths and over 1900 sq ft of finished space. Walk into the sun-filled family room with a vaulted ceiling, plant ledge, and wood flooring. The kitchen and dining area open onto the large deck and fenced back yard. The lower level features an expansive family room featuring a gas fireplace, tv viewing area, a bedroom, full bath, and storage area with the laundry room. Quiet street and lovely neighborhood that is convenient to recreation, schools, … (7 comments)
Whether you are relocating from another state or you are moving within the market area, there is always some adjustments to be made! My focus is on the well-being and safety of your family. A house is very important, but making the Cedar Rapids area your home takes a little more effort. My clients call me long after the closing for advice on a veternarian for their new puppy or the best daycares in the area. Meeting new people is always fun for me and I love my job! Call me if you would like to know what your home is worth in the current market or if you think that you might want to move up to another home somewhere else. We will miss you, but I will happy to get you on your way to your next adventure as quickly as possible!
When I first meet with a homebuyer, whether they have purchased a home previously or if they are first time buyers, I give all prospective buyers their own wants and needs survey. It is important that they complete these independently for a couple of reasons. 
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