new providence: TIME AND VALUE - 01/22/08 04:27 AM
If we never expected to move out of our homes, we could spend whatever we wanted on remodeling our bathrooms and amortize the cost of the projects over many years.  Most of us, however, must watch our remodeling budgets because we are eventually going to move.  Thus, the project's "value in exchange," an estimation of how much of its total cost will be recovered at the time of sale, becomes very important.  According to real estate appraisal experts, those who expect to live in their houses less that five years before they sell them should be concerned about a project's value … (0 comments)

new providence: COMPROMISING POSITION - 09/27/07 12:55 PM
Once a deal between the buyer and seller is struck, it would be shameful to have it fall apart over an occupancy disagreement. As with other aspects of the deal, compromise must come into play.  If this means that the seller must move out of the house earlier than he or she would like, then it may mean moving into a  rental unit to make the deal.  Otherwise , the seller may be willing to accept rent from the buyer if the seller has the flexibility to wait as the buyer prepares a move.  If circumstances do not permit a smooth … (2 comments)

new providence: TALKING UP A PROPERTY! - 07/05/07 10:01 AM
Sellers my be largely unaware of one of the most useful services that real estate agents can provide them.  This work, which goes on behind the scenes involves increasing the awareness of their clients properties to other agents who may have potential buyers.  Essentially, this amounts to a public relations effort, the goal of which is to disseminate as much informations as possible to as many potentially interested parties as possible.  It also helps for an agent to stress the most appealing features of a client's property with the intention of garnering interest.  Houses that are "talked up" to other agents … (1 comments)

new providence: THE REAL LOWDOWN - 07/05/07 09:41 AM
First-time buyers often find it challenging to come up with a down payment.  However, they may take heart in the fact that some financing options make it possible to find mortgages for as much as 97% of the home's value.  This means that thy cam place as little as $5,514 down payment on a home costing $183,000.  On the other hand, this low down payment option is likely to come at a price.  Loans with low down payments usually have higher interest rates.  In addition, homeowners with less than 20% equity in their homes are required by their lenders to purchase private mortgage … (0 comments)

new providence: GOT GARAGES? - 05/31/07 09:33 AM
The high cost of gas notwithstanding, American have a love affair with cars that extends to garages.  Whether there is room enough amid the cutter to park a vehicle there, a garage can add more than 10% to the resale of a home, according to a Florida State University study. That is more added value than a fireplace (8.9%), extra bathroom (3.7%) brings.  There seems to be no end to our seemingly insatiable desire for garage space.  According to the National Association of Home Builders, nineteen percent of all new homes now feature garages that can accommodate three cars or more.  … (1 comments)

new providence: SINK OR SWIM - 05/09/07 03:21 AM
If your thinking of installing an in-ground swimming pool in your back yard, or if you already have one you should have realistic expectations about how this feature will affect the sale of your home. In areas in which it is regarded as something of a necessity, a pool is likely to increase the value of a home.  In fact, according to the National Association of Realtors, a pool increases the value of a home in the Southwest by 11% on average. Elsewhere, the returns are mixed,  If a prospective buyer is a fitness devotee, a pool may be an attractive … (6 comments)

new providence: OPEN DOOR POLICY - 05/04/07 02:01 AM
One of the best ways for sellers to allay potential buyer concerns is to show them that they will get what they are paying for.  Part of any smart home-selling strategy calls for sellers and their agents to anticipate the concerns of potential buyers, primary among which is the concern that they might be purchasing a home with defects.  The best way to defuse this concern is to have the sellers have their home inspected by a professional property inspector prior to placing the house on the market.  This will help uncover problems that were not previously known to the seller, so … (0 comments)

new providence: Buying Real Estate - Cold Feet - 04/28/07 07:23 AM
It is not unusual for first time buyers, especially, to view the house-buying process as a nerve-wracking one. Understandable, some buyers have second thoughts as they review their decisions to buy. "Buyers Remorse" is an emotional response that some people have towards a real estate transaction.  Fore some home-buyers, these feeling are related to the uncertainty that results from relinquishing control.  Other buyers felling of uncertainty are coupled with the fear of making long-term commitments.  Whatever the reason, buyers should address any remorseful feelings they may face.  If you predicated your decision on solid reasoning, it should stand up to scrutiny. … (2 comments)