Category Archives: Real Estate

Tips to Heat Up Your Condo Sale

Too many condominiums for sale. Prospective buyers are on vacation. Mortgage money is hard to get. Don’t let those pesky realities prevent you from trying to sell your unit this summer. The real estate market is slow, but it isn’t dead.

Contact the appraisers at www.scappraisals.com to assist with a listing price.

Freshen up. You’re competing against new-construction models, which have been professionally decorated. At the very least, fix what’s broken, pack away the clutter, remove outdated wallpaper and flowered curtains and deep-clean everything, said Elena Dan of Re/Max 1st Class Realty in Skokie. “People are not willing to do any work today,” she said.

Stage the balcony. A condo dweller’s summer joy is sitting on the balcony, enjoying morning coffee or evening candlelight. Make it inviting with planters and colorful pillows and placemats, said Dan.

“A balcony expands the living space to the outside, and makes the unit seem bigger,” she said.

Don’t show an empty unit. If you’ve moved, leave a few pieces of furniture. You don’t need a lot, just enough to illustrate placement possibilities and what size bed fits in a bedroom, said Emily Jeffries of Re/Max Exclusive Properties in Lincoln Park.

Read more at: http://www.chicagotribune.com/classified/realestate/apartments/ct-home-0624-condo-living-20110624,0,3156895.story

Disclaimer: for information and entertainment purposes only

Buying a Newly Constructed Home – Hidden Costs Can Add Up

Many homebuyers think that purchasing a brand-new home is smarter than purchasing a “used” home. A new home’s maintenance costs should be minimal; its construction materials, systems and appliances should be up-to-code and energy efficient; the floor plan and amenities should meet the needs of modern buyers and the home should be move-in ready. A new construction also has an emotional appeal for buyers who like the idea of living in a home that’s completely clean and potentially perfect.

What many buyers don’t realize is that new homes often have numerous hidden costs. If you’re considering a new construction, here’s what you should look out for to make sure you’re spending your money wisely and you don’t experience any unpleasant surprises.
Contact the appraisers at www.scappraisals.com to help with value when negotiation a final price with the builder.  If you are using a mortgage to purchase the property make sure the value will be there when it is time to sign the mortgage papers.  A property not appraising could be a big road block.
Hidden Defects
Just like an older home, a brand-new home can have hidden defects (also called “latent defects”) that require expensive repairs. Heavy rains can reveal inadequate waterproofing or grading that leads to leaks or flooding in your home. A weak slab could crack. Siding could fall off. The wood floors could warp. Your toilet could overflow. Electrical wiring could be done incorrectly. Any problem that you might be afraid to find in an older home can also appear in a brand-new home.
To protect yourself, research the builder’s reputation and don’t skip a thorough inspection by an independent home inspector who is not affiliated with the builder. Ideally, you would have one inspection after the home has been constructed but before all the finishes have been put in, when some problems are easier to identify, and another inspection just before your loan closes and you take possession.Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/04/09/investopedia6688.DTL#ixzz1rq2no1SG

 
Disclaimer: for information and entertainment purposes only

Staging Your Home for Sale

Spring arrived very early this year in much of the country, bringing what traditionally is the best time to buy and sell real estate, even through the downturn.

Issues of tight credit linger and median home prices continue to decline, though more slowly. Yet there appear to be enough positive indicators to push once-reluctant sellers into the market.

Does this increase value? Contact the appraisers at www.scappraisals.com
for your value questions.

Among those pluses: record-low fixed interest rates for mortgages and the highest affordability levels since record-keeping began in the 1970s.

For sellers, it is time for real estate theater. The house is the star. The cast includes agents and brokers, home inspectors, title people, mortgage companies, lenders, underwriters and, obviously, buyers.

What is the seller’s role, and how big is their part?

That varies, said Diane Williams of Weichert Realtors in Blue Bell, Pa.: Some sellers’ personalities make them very “hands-on”; others consider the agent “the professional with great experience — ‘you handle the transaction, I am too busy to worry about the day to day.'”

Read more at: http://www.chicagotribune.com/classified/realestate/sell/sc-cons-0405-spring-sellers-20120406,0,1723331.story

Disclaimer: for information and entertainment purposes only