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Wednesday, 22 February 2012
Prioritize Prpairs & Maximize Payback
Time to sell your home? You'll find there are many considerations when deciding on the asking price. Your trusted real estate professional will provide you with information regarding the current market and what similar homes are selling for and at what prices homes in your area are NOT selling for. The homes that are just sitting on the market getting stale and shop worn. However, your agent won't decide the asking price. Your agent will give you guidance, but you will choose the price. Then your agent will decide if they are willing to spend their time and money on marketing the property at that price.
Condition is of utmost importance - it's a significant variable when buyers compare your home against others. Don't be tempted to try to take the easy way out. Make the repairs or improvements your agent suggests to have the buyers choose your home over all the others flooding the local market.
You've heard it before - image is everything! If your home doesn't look as good as or better than the competition, you're setting yourself up for low ball offers. Buyers look for the best value for their money, and your home should display your pride of ownership.
Take time now to prioritize your repairs to maximize your pay back. Take care of the big stuff first and then focus on minor cosmetic repairs.
History shows that buyers offer $2 less for every $1 in needed repairs. So if you don't make the needed repairs, you'll end up loosing money in the long run. You'll either end up receiving no offers or offers so low you can't accept them. Take a professional's advice and fix it now or pay big later.
Thursday, 16 February 2012
So you've found the home of your dreams and you're preparing to make your offer. As you consider price and terms, be sure to include one of the most critical components of the offer - the home inspection. The contract should clearly identify how any reported habitability problems will be handled.
By including an inspection in the terms of the contract, you give yourself three valuable options if habitability repairs are needed. You can either: a.) request that the sellers complete the habitability repairs prior to closing, b.) negotiate a dollar amount from the sellers and hire your own contractors, or c.) ask to withdraw from the contract if the seller refuses or is unable to make a habitability repair.
The last option isn't very appealing, especially if you really love the home. While the selling market was so hot a few years ago, many buyers would forgo the inspections, just so their offer looked better than the others and to win the bid on the property. These days, however, cooler markets allow you to make a home inspection part of your contract.
If the inspection discovers habitability issues and the seller is unable or unwilling to make the repairs or to provide a dollar amount for you to make the repairs, you may ask to be released from the contract. Chances are though, that the inspection will only reveal minor repairs. Most sellers are willing to make habitability repairs and you'll soon be living in your dream home!
Friday, 10 February 2012
Recent Piqua real estate sales
The local Multiple Listing Service lists thes Piqua area homes as sold with real estate agents.
8225 Lambert, Piqua, list price $142,900, sale price $138,000, 505 days on market
4170 Miami Shelby, Piqua, list price $94,900, sale price $87,200, 85 days on market
1104 Martz, Piqua, original list price $82,500, list price at sale $79,900, sale price $79,500, 170 days on market
203 Janet, Piqua, list price $117,500, sale price $115,000, 34 days on market
1521 Brook, Piqua, list price $27,900, sale price $33,000, 32 days on market
100 Sharon, Piqua, list price $125,900, sale price $125,000, 191 days on market
Keep in mind that the seller may have paid for the buyer's closing costs which reflect in the sales price. For more information on these homes or any homes in Miami or Shelby counties, please contact Kathy Henne at 937-778-3961 or Kathy@KathyHenneTeam.com
Friday, 10 February 2012
Real Estate For Sale in Piqua Area
Homes for sale in Piqua, Ohio
814 Caldwell, Piqua, 3 bed, 2 bath, $91,500
223 Plum, Troy, 3 bed, 2 bath, $118,000
400 Blaine, Piqua, 3 bed, 1.5 bath, $40,000
314 Pinewood, Piqua, 3 bed, 1 bath, $50,000
For more information on these homes or any homes in Miami or Shelby Counties, please contact Kathy Henne at 937-778-3961 or Kathy@KathyHenneTeam.com
Wednesday, 08 February 2012
If you're planning to go bargain hunting, you are likely to come face to face with a special challenge: the long-vacant home. Many of these properties have been foreclosed, and now rest in the hands of the bank. If the previous owners are long gone, it is hard to know how long the properties have been vacant. Most home owners who are faced with loosing their home do not call the bank and tell them that they are leaving - they just pick up and move. It takes the bank awhile to figure out they are gone. If the home owners abandon the home in the winter and it is not winterized properly, there is always the chance of frozen and then broken pipes.
While some of the "distressed properties" are still in fair condition, how can you find out about possible defects in the home when the previous owners are not available to disclose such facts? Since the banks who now own the property and the agents listing these properties do not know any details about the previous owners, you may ask to have the property inspected. The banks may or may not allow you to inspect the property.
When you find an attractive property at a low price, you may be able to hire an inspector to take a look. You will pay several hundred dollars to hire the inspector, but his opinion may give you an idea of the condition before you make the offer. Many lenders will not allow you to have the utilities turned on at the property for the inspection, so you may still have a few surprises when you take possession of the properties.
If purchasing a property that may have issues makes you uncomfortable, you're better off passing on foreclosed or bank owned homes. You're best bet is to purchase a property that someone is living in, have your inspections and get a home warranty. You'll sleep better!
Wednesday, 08 February 2012
If you're planning to go bargain hunting, you are likely to come face to face with a special challenge: the long-vacant home. Many of these properties have been foreclosed, and now rest in the hands of the bank. If the previous owners are long gone, it is hard to know how long the properties have been vacant. Most home owners who are faced with loosing their home do not call the bank and tell them that they are leaving - they just pick up and move. It takes the bank awhile to figure out they are gone. If the home owners abandon the home in the winter and it is not winterized properly, there is always the chance of frozen and then broken pipes.
While some of the "distressed properties" are still in fair condition, how can you find out about possible defects in the home when the previous owners are not available to disclose such facts? Since the banks who now own the property and the agents listing these properties do not know any details about the previous owners, you may ask to have the property inspected. The banks may or may not allow you to inspect the property.
When you find an attractive property at a low price, you may be able to hire an inspector to take a look. You will pay several hundred dollars to hire the inspector, but his opinion may give you an idea of the condition before you make the offer. Many lenders will not allow you to have the utilities turned on at the property for the inspection, so you may still have a few surprises when you take possession of the properties.
If purchasing a property that may have issues makes you uncomfortable, you're better off passing on foreclosed or bank owned homes. You're best bet is to purchase a property that someone is living in, have your inspections and get a home warranty. You'll sleep better!
Wednesday, 08 February 2012
If you're planning to go bargain hunting, you are likely to come face to face with a special challenge: the long-vacant home. Many of these properties have been foreclosed, and now rest in the hands of the bank. If the previous owners are long gone, it is hard to know how long the properties have been vacant. Most home owners who are faced with loosing their home do not call the bank and tell them that they are leaving - they just pick up and move. It takes the bank awhile to figure out they are gone. If the home owners abandon the home in the winter and it is not winterized properly, there is always the chance of frozen and then broken pipes.
While some of the "distressed properties" are still in fair condition, how can you find out about possible defects in the home when the previous owners are not available to disclose such facts? Since the banks who now own the property and the agents listing these properties do not know any details about the previous owners, you may ask to have the property inspected. The banks may or may not allow you to inspect the property.
When you find an attractive property at a low price, you may be able to hire an inspector to take a look. You will pay several hundred dollars to hire the inspector, but his opinion may give you an idea of the condition before you make the offer. Many lenders will not allow you to have the utilities turned on at the property for the inspection, so you may still have a few surprises when you take possession of the properties.
If purchasing a property that may have issues makes you uncomfortable, you're better off passing on foreclosed or bank owned homes. You're best bet is to purchase a property that someone is living in, have your inspections and get a home warranty. You'll sleep better!
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