Sellers often order pre-sale inspection reports. This inevitably raises the question of how much, if any, of the recommended work should be done before selling. Ideally, any defect that would be hazardous to agents and buyers who preview the property during the sale process should be corrected. An example is a trip hazard that might cause someone to fall. In addition, to maximize your return from the sale, you should repair defects that adversely affect how the property looks. Buying decisions are typically determined upon a first inspection and first impressions.
Fara Espandi, an ERA Justin Realty continuing Leadership Circle award recipient says, “First impressions are important. So, if the fence or entry porch are in disrepair and look shabby, repair them. If the exterior paint is peeling, repaint and retouch as needed. You get positive results when you repair a defect and improve appearance by doing so. For example, let’s say that the wood pest (also known as termite) inspector finds damage under the linoleum in a kitchen, treat and repair. If the linoleum is worn and outdated, you’ll do better on the sale if you replace the floor covering with a new, trendier one. In the course of doing this, the wood damage can be repaired. The result is that the house shows better and a defect is eliminated–two benefits for the price of one.
You certainly can’t be expected to rebuild your home in order to sell it. Nor is this a sensible thing to do economically.
When structural elements are in need of repair and you haven’t the time or money to repair them, it’s a good idea to get repair estimates and make these estimates available to prospective buyers before they make an offer. This way, you’re in control of the process and can find reliable contractors or engineers who will give you reasonable and not exorbitant estimates.
It can be unsettling to a buyer to discover that the roof is in poor condition or the foundation needs work. Most buyers will have no idea how much it will cost to make repairs. Fear of the unknown makes people anxious, which isn’t a good frame of mind for someone who’s trying to decide whether to buy your home.
As reported by Dian Hymer of Inman News, a pre-sale home inspector of an Oakland, Calif., home recommended that an engineer be consulted about a foundation that had settled. The seller hired an engineer who made a proposal for the repair. The cost was $20,000–not an insignificant number. But, it wasn’t $40,000 or $50,000 as an inexperienced buyer might imagine. If you choose not to make major repairs before selling, this should be reflected in your list price, especially if you have competition from other sellers.”
ERA Justin’s Fara Espandi Reports On Recommended Work Before Selling
ERA Justin Realty Participates in Kip Center Holiday Festival
ERA Justin Realty: Tips on Dressing and Pricing Your House For Strong Showings
For more information on CMAs and dressing your house for a good showing, consumers can reach the ERA Justin Realty sales team at either of their two Rutherford offices at 118 Jackson Avenue or 57 Park Avenue. By phone at(201) 939-7500, (201) 438-0588 or (201) 438-SOLD. Additional real estate information is also available at the firms 1000’s of homes websites at www.ERAJustin.com and www.ERAJustinRealty.com.
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ERA Justin Realty: Kubs Team offers, How Renters Become Buyers
ERA Justin Realty: Kubs Team offers, How Renters Become Buyers
Nothing compares to the feeling of having a place to call home. At one time or another, however, most of us have felt frustration at seeing hard-earned money go into rent every month rather than a more permanent house payment.
According to Allyson and Wayne Kubs familiar with rental and investment properties through ownership, “Renting is most people’s first step toward homeownership, but what do you need to do to realize the dream of owning a home? ERA Justin Realty’s Kubs team shares important insight for those who want to become a homeowner. Sometimes, it’s not the regular rent-money obligations but other expenses that are the main obstacle in saving. A whole debt-counseling industry has arisen to guide consumers in getting out from under what they owe. Smart saving, not depriving yourself, just ensuring stability and enjoyment over the longest term involves many moves both major and simple, and can help prepare you for that first down payment.
On the simple end, rediscovering home cooking (and enjoying the leftovers as brownbag lunches) can amount to significant savings as compared to regularly dining out. On a higher level of financial planning, establishing a household budget and sticking to it, including a specific amount set aside for savings every month can get you to your home affording goals sooner than you might have imagined.
You may also want to meet with a counselor who can negotiate a lower rate and set a sensible structure for your repayments on credit cards while advising you how to ease dependence on them. This not only gets you on your own financial feet, but helps keep your credit rating intact for the very home loan you hope to someday secure.
There are additional ways to start working toward homeownership. Some sellers will enter into a rent-to- buy agreement, in which part of the regular rent is considered an installment of the home’s down payment, which, once built up, can help you obtain financing. Low income renters may also qualify for federal Section 8 vouchers which are paid to the landlord, subsidizing your rental expenses and helping you save for a permanent home.
Just as some renting options allow you to set funds aside, some types of purchases can help defray your costs even as you fulfill the stepped-up obligations of homeownership. Pooling resources with other buyers to occupy a two-family home could be one; buying such a home by yourself and renting one half of it could be another.
Even if your economics remain challenging, there are low down payment mortgages, and other forms of financing for special circumstances, available to buyers who meet the right criteria. Our ERA Justin Realtor sales agents can help you navigate through these options, accessing financing programs for qualified buyers. He or she can also identify what government help might be available, and generally counsel you on your readiness to be a buyer and on what else you might need to do to get there. If you consult the right sources and seek common-sense strategies, then your every move in the renter’s world can be pointing you home.”
Allyson concluded, “ Our team at ERA Justin Realty have the answers or available just a phone call way. Because of our daily priorities, we’ve proudly received the prestigious ERA global Commitment to Excellence Award.”
Ron Darby, ERA Justin Broker added, “All across the nation, the most coveted award that can be achieved in business is the ‘J.D. Power & Associates’ award. Only outstanding business entities are honored and receive it. ERA Real Estate was the recipient of ‘Highest Satisfaction for First Time Home Buyers Among Full Service Real Estate Firms.’ Award. For these reasons ERA Justin Realty should be your buying and selling Realtor of choice.”
Allyson, Wayne and all of the ERA Justin Realty full service Realtor sales agents can be reached at either of their two Rutherford offices at 118 Jackson Avenue and 57 Park Avenue. By office phone (201) 939-7500, (201) 438-0588 or (201) 438-SOLD. View 1000’s of homes at their website at www.ERAJustin.com and www.ERAJustinRealty.com.
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JENNIFER SULLIVAN JOINS ERA JUSTIN REALTY
JENNIFER SULLIVAN JOINS ERA JUSTIN REALTY
ERA Justin Realty Award Achievers Exceed Expectations
Elder Law-Estate Planning Seminar Co-sponsored by ERA Justin Realty and BCB Bank
ERA Justin Realty Edge Before Winter Home Selling
ERA Justin Realty Edge Before Winter Home Selling
“As the leaves begins to fall and the weather gets colder, homeowners often shudder at the thought of selling their home in the Winter, out of concern that there will be fewer buyers, their home will look less attractive and will command a lower selling price than during the Autumn. This can be substantial thought. Following are the 4 most common myths as well as the truth about selling a home now or during Winter,” stated Morgan DePalma an ERA Justin Realtor sales agent.
DePalma continued, “Myth #1 If I wait until Winter into next Spring to sell my house there will be more buyers and more competition for my home that I put up for sale.
Truth: There really is less consideration of markets anymore, since many markets are interest rate driven. Interest rates are currently low and that is what motivates many buyers seeking their new home now with closing prior to the Christmas holidays.
You’ll likely get more foot traffic through your home in the Autumn. In the winter you may have fewer showings, but many tend to be serious and qualified buyers because fewer people like to spend an afternoon browsing through homes when the weather is cold, rainy or snowy. You still have an extra advantage with Autumn showings.
Myth #2 My house will sell for a higher price next Spring since the economy has been improving, I’ll wait to get an even higher price for my house in 2016.
Truth: The current home prices of 2015 may not continue to escalate in 2016. No one can forecast ahead. We know what the economy is like now. With political worldwide uncertainties, there is no way to predict what lies ahead in the Spring of 2016. A significant benefit of Autumn into Winter home selling is that there is less inventory at this time of year, which translates into less competition amongst listings on the market. Remember, it only takes one buyer to purchase a house, and sellers establish the price that they want. Houses that are well priced, decorated, updated and in move-in condition always move rapidly.
Myth #3 My house will look better next Spring when the trees have leaves and the flowers are blooming.
Truth: Remember, the playing field is level in this Autumn season when you choose to sell your home. In the Spring, everyone’s house has blooming flowers and trees. Do not discount the benefits of Autumn selling. Autumn decorations, Thanksgiving and the wonderful aroma of food, roaring fires in the fireplace and scented candles are very attractive to buyers.
Myth #4 Since I need to move in the Winter, I will wait until then to sell my house.
Truth: Home sellers with flexibility in Autumn can sell and set a closing date in Winter, which can benefit both the seller and the buyer. The seller, knowing that their house is sold, can go and buy a new house, with less pressure. The buyer may benefit by having the necessary time to sell their old house.”
Sellers interested in learning more about selling their home in the late Fall/Winter can contact the ERA Justin Realty sales professionals at both of their Rutherford office locations at 118 Jackson Avenue and 57 Park Avenue, for a no obligation Customer Analysis Report. A written report that provides the market value of a house, those houses that have sold, market trends and other information that will aid a seller in properly pricing their house is available for the asking. Phone the ERA Justin Realty team at (201) 939-7500, (201) 438-0588 or (201) 438-SOLD. ERA Justin Realty is a “Top 100” ERA real estate firm worldwide and they have received the prestigious “Commitment to Excellence Award” for service to their sellers, their buyers and the communities they serve.