Should I wait until Spring to Buy a Home or Sell My House?

 

 The winter in Western New York can be snowy, cold and unpredictable - both with the weather and the real estate market.  This year is a little different. . . . .
 

The listing inventory is way down this year, and many people are waiting for "the Spring Market" to list their homes.  There are people just waiting for the right house to come along to purchase - interest rates are still low and banks want to lend money. 

  

If you are considering waiting until Spring - keep these things in mind.  The holidays are a time of the year when you house looks warm and welcoming.  Lights, decorations and baking cookies all add to the appeal of a home.  Holiday cheer helps people see the best in everything - including your home.

Potential Purchasers are out there and they would love to see a new home come on to the market at this time of year.  Many have been looking for a while and are getting anxious to find the right home.  They are serious, motivated purchasers and are willing to brave the cold to make a visit to your house.
 

The other thing is that many people have a little time off during this time, or are in town to visit relatives - and if they see the right house, they may move home.

Take advantage of the low inventory, low interest rates (which allow buyers to spend a little more) and great holiday atmosphere!!

If you are thinking of purchasing a home, the holidays are a nice time to see houses looking their best.

It's also a great time to see a house - to determine if they are well insulated, if ice back up is going to be an issue, if the windows are drafty and see what the heating bills look like over the winter.

What a wonderful gift to give to yourself or your family--

A New Home!!

 

 

Don't wait until the Spring market with all of the competition and mud!!

 

 

The Virtues of Using a Realtor

The Virtues of using a Realtor

Many people are faced with the prospect of buying or selling a home at some point in their lives.  Often, this occurs more than once.  Home ownership presents tremendous opportunities and represents the culmination of the American dream.  The magnitude of this endeavor, in the purchase or sale of your most important asset, should never be taken lightly. 

It intrigues me therefore that the majority of people will seek out the best doctors for health issues, dentists for superior oral care, and even search long and hard to find the best quality mechanics for automobile repair. 

When it comes to making an informed decision about the purchase or sale of a person’s most important and expensive asset, there are people who are of the opinion that thinking of a price, planting a “For Sale by Owner” sign in the front yard, and paying a few dollars to put their home on some website is the absolute best approach to selling their home.  

For many it is inevitable that after several weeks of frustration and dealing with people simply looking out of curiosity, the home usually ends up in the capable hands of a professional realtor.

There is no disagreement that people realize the importance and value of their homes, and that they have the best of intentions in their pursuits.  Unless these homeowners are actually licensed professionals, required to remain apprised of the latest issues and laws regarding real estate transactions, the old adage “Pennywise and pound foolish” often rings true.   

The benefits of working with, or consulting a realtor, range from financial and legal, to those of personal security.  The financial benefits are that studies have shown by using a realtor a home usually sells for ten percent (10%) more and in a shorter amount of time than one sold directly by the owner.  The realtor also insures the completion of all forms required by law when involved in the sale of a residential or commercial property.   These forms are required for the protection of both the buyer and seller.  Realtors are experienced in providing current sales figures pertaining to relevant comparable homes in the immediate area, thus allowing sellers to make a more informed appraisal on the value of their home for sales purposes.   Realtors follow market trends and offer advice to sellers (Ask an Expert), allowing them to capitalize on these trends in real estate.

If the financial and legal benefits enough do not justify the use of a realtor, then we can address personal safety.  How often would you actually open up your home with your personal effects, to a complete stranger, and allow them to walk about for up to an hour, without any question about whether they are really interested or qualified to actually purchase your home?  Without a licensed agent allowing carefully screened, pre-qualified, interested parties into the home, at pre-arranged and confirmed times, homeowners run the risk of allowing the simply curious, potential thieves or unqualified people into their homes.  A perfect example of this is the current wave of individuals entering homes under the guise of “house hunting” only to rifle the medicine cabinets of unsuspecting victims in a search for pharmaceutical drugs. 

  
Realtors observe the same level of protection, loyalty and confidentiality to both sellers and buyers.  Their presence in accompanying potential buyers on home showings reflects their commitment to protecting buyers’ interests on offers, home inspections, pointing out home deficiencies and potential problems and working towards achieving the best financial deal for their clients.   Realtors work towards a mutually beneficial resolution for both sellers and buyers.  As long as they are primarily concerned with the interests of their clients, whether seller or buyer, you will find the benefits of working with realtors to be immeasurable.       

 

LOOKING AT PRETTY PICTURES

When viewing Online home listings, where do potential home buyers spend 60% of their time?

The answer is professional photography

There’s a fundamental shift happening in the real estate industry (and the web in general) and professional photos are playing a key part in the success of many businesses. 

Moreover, with the rise of social networks such as Instagram and Pinterest, there is further proof that consumers demand a visually appealing online presence. 

 

 I do find it very entertaining to see the kind of photos used by agents and homeowners in the sale of their property.

 

 

Here is our one chance to make a first impression and in effect say to the buying public, "Hey everyone, this could be your life, come on over".  I often ask myself, what kind of life might I have if these photos were of my house?  

 

 

  

 

 

 

 

 

 

 

 

  

 Some things to keep in mind:

Composition– wide angle lenses

offer the best solution –

 large swaths of a room, not just a

corner or one sliver of the room.

 

  Junk on counter tops

 

  and refrigerators cluttered

  

  with magnets

 

 

 

      

The Finer Details: 

 

Open Toilets   

 

 

Not appealing! 

 

 

 

  

   For crying out loud!

 
  Make the Bed!

Items that might offend… you just would not believe the things people display in their homes.  Put them away and items like hunting trophy animal heads and the like might limit the audience for the home by alienating some.

  

 

 

In your mind’s eye, consider your trips to Model Homes when you 

 think of composing your photos.

  Limit the number of items on any level surface to two.

 

 

 

 

 

 

Furniture should be paired down to allow rooms to appear spacious. 

 

 

 

 

All available lighting should be on. Well lit rooms look larger and more inviting. Dark rooms appear smaller, closed in and significantly less cheery.

 

 

 

 

Specific points of interest make for good subject material.

 

 

 

 

Don’t give them too much.  If you tell them everything up front, you may not leave anything to draw the buyer to the property.

Today’s more robust websites allow as many as 20 or more photos. 
  

Pick the best 10 or 20 images of the home so you can effectively capture the best your home can be! 

FIVE REASONS PENDING SALES FALL THROUGH

Five Reasons Pending Sales Fall Through

Created and written by Daniel Myers, NYS Lic. R.E. Salesperson

 

Buying a home can be a very emotional experience, even when it appears to be going smoothly. When something goes wrong, it can be stressful. Your agent will likely prepare you for the possibility that a pending sale won’t go through, but when it happens to you, it can be heartbreaking. Help prepare yourself by learning a few reasons that pending sales fall apart. 

1.  You change your mind. Cold feet or, as it’s often dubbed, “buyer’s remorse,” happens surprisingly often: fear of commitment, fear of being overextended, fear that the house is not “the one.” Sometimes instincts are correct, but often people let the natural anxiety of home buying wrap around the home itself. The best way to prevent this is to prepare yourself before the process starts. Be practical about your needs, and be honest about whether a house meets them. Don’t allow yourself to be pressured into a home that doesn’t feel right. Limit your discussions about the house to your Real Estate Agent, family and close friends. More input and advice, even the most well-intentioned, can cause confusion.
 
2.  You are unable to obtain financing. Sometimes a mortgage loan falls apart.  That’s why it’s important to be prequalified for loans, to avoid last-minute heartbreak. The rejection by a mortgage lender can be based on a poor credit score or negative items on a credit report. A buyer in need of a loan can correct errors on a credit report, but this generally takes a bit of time. Buyers need to be wary about taking out large loans for cars, furniture or appliances, as well as making major purchases on credit cards. These actions could compromise your loan if the lender runs a supplemental credit check.  A buyer can also offer to make a larger down payment, thus reducing the mortgage balance. If you are careful during the loan process, then you should be well on your way to financing your new house.

3. The home failed inspection.  Hiring a professionally licensed home inspector can aid in detecting plumbing and electrical issues, roofing and drainage problems, or faulty heating systems. Repairs can often be negotiated into a contract so that either the buyer receives a credit or the seller agrees to make the necessary repair before the closing. Sometimes, however, your inspector can turn up something that is too large to repair, such as a structural issue.

 

  4.  You haven’t sold the home you already own yet. If you haven’t sold your house yet, and if your contract with the home owner is contingent upon selling, you may not be able to go through with the purchase. Most people cannot afford to pay two mortgages at the same time. Some buyers are able to take out a bridge loan, a form of short-term financing, to bridge the gap. New home buyers who have not yet put their old house on the market can save money with a home-equity line of credit. In this type of financial agreement, a lender extends a loan for a certain period, during which the collateral is the borrower’s equity in their own house. These two solutions can help you avoid the prospect of losing out on the home you want.

5.  Your appraisal comes in too low. The lender will generally loan up to the appraised value of the home, so if the appraisal comes in lower than the potential mortgage, the buyer cannot purchase. At this point it’s time to negotiate. Either the seller needs to reduce the price to the appraisal value or the buyer must come up with the difference in cash.

All of these scenarios demonstrate why it’s important to maintain close contact with your Real Estate Agent throughout the process. The agent has weathered many sales and has probably saved more than a few from disaster. It’s much easier to go through this exciting and emotional life transition with a knowledgeable real estate professional at your side. 

Real Estate Roller Coaster

People decide to buy and sell real estate for many, many reasons. The thing all buyers and sellers find is that buying and selling a house is stressful!!  

Buying your first home is super exciting!  Selling your house because you got a promotion and transfer to Honolulu is also super exciting (and a great reason to sell)!--and THEN, the reality of the process sets in and the emotional roller coaster starts. 

Starting up that first hill is exciting. The anticipation of finding your dream home, or getting a great offer on your home is exhilarating.  Checking the Internet, searching for houses, new furniture, decorating ideas and talking to people about moving is fun! 

 Being prepared for the ups and downs of the rest of the ride is critical! Are you looking at houses you can afford? Do you have a realistic expectation of the value of your current home? Do you understand the time commitment buying and selling require?

Selling your home is hard. Cleaning, packing, staging, decluttering, storing and fixing. It can be very uncomfortable having strangers walk through your home and then dismiss it. Or worse, they like the location but hate the decorating. They love the house, but not your asking price. The house sells faster or slower or for more or for less than you anticipated.

Looking for your next home can be just as frustrating - the outside looks great, but the inside resembles the Brady's house from 1972 - all green shag and orange counters.  The house is perfect but next to a thruway.  The house is perfect but just outside your budget.  The house doesn't look anything like the pictures on the Internet!

A good Realtor, working for you, will explain the dips and turns and unexpected obstacles as they come up.  It's not an exact science, but having an experienced rider along can ease some of the nerves!!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FREE MONEY!!

  



FOR 1^ST TIME HOME BUYERS

           Could you pass up a 400% return on investment?  That’s right, first time home buyers may qualify for this fantastic opportunity!  You need only call to see if you qualify.

This tremendous opportunity is the First Home Club of M&T Bank.  For those who qualify, you will receive a grant of $4.00 for every $1.00 you save.  How is that for a return on your investment?  The matching funds will be granted up to a maximum of $7,500 and you are required to remain in the entire program in order to receive the funds.  These matching funds may be used towards a down payment and closing costs on your home.

To be eligible for this First Home Club you need only meet three simple criteria.  You must be a first time homebuyer which means anyone who has not owned a home in the last 3 years, reside in New York and meet certain income criteria determined by the area in which you live.

          The best way to determine eligibility is to contact M&T Bank representative, Ann Carbeck (NMLS#70477) directly at 716-984-2167.  She will be happy to review your credentials with you. 

           For those who qualify for the First Home Club you simply make scheduled deposits to your Home Club Savings Account.  The duration of your club membership can be determined by you and your bank club counselor, usually between 10 and 24 months.  During your club membership you are required to attend a home ownership education course which will address everything you will need to know about home ownership. This is just one excellent program available to first time homebuyers. 

To learn more about these programs and whether or not a home purchase is right for you, you are strongly urged to call Bill Hirsch, a specialist with the Jay Coles Team at Realty USA in Orchard Park, New York.  Contact Bill by phone or text at (716) 341-9208 for a candid, no-obligation discussion of the advantages of homeownership versus renting.  You may use e-mail at whirsch@realtyusa.com.  You will be amazed at the things you will learn about real estate ownership, options available and what best suits your needs.

Things to do in and around Buffalo New York

Summer is fast approaching! Do you need a place where you can become tranquil, enjoy nature, learn about nature, and be outdoors? A few weeks ago, Orchard Park, New York made the news in regards to the natural phenomenon we have right here in Orchard Park . In a region with more than its share of natural beauty...from the incredible power of Niagara Falls ... to the great splendor of Letchworth Gorge, perhaps the most fascinating is one that is not so tremendous.

When I think of summer, I think of being outside, enjoying the beautiful weather--whether boating, swimming, going on picnics or hiking. Next time you are in the mood for a picnic, hike or both, try out the beautiful grounds over at Chestnut Ridge Park . This beautiful park is the perfect place to picnic, or just hang out and enjoy the outside. Tucked deep within Chestnut Ridge Park is the Eternal Flame that is a natural phenomenon, a natural gas leak underneath a waterfall that just happens to be burning.

 

When I asked some of my family or friends about this place (Eternal Flame of Orchard Park, NY) some who live here in Western New York, some said they didn’t even know that it was there. It’s a great hike. Walk the green trail that leads back into this hidden wonder and you will soon understand why this location is popular by those who know it.

It’s a bright flame, burning under the cascade of water, that seems to embody the spirit of nature and gives the spot an almost sacred feel. It is said that the falls may be the only one of its kind on the planet and it’s right here in Orchard Park, NY.

 

Give yourself plenty of time for the hike there and back before it gets dark though, because of the tall trees and plenty of them that surround you on this beautiful hike, it will get pretty dark in here.

 

To learn more about places to visit or live in Orchard Park, please visit www.jaycoles.com.

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