Happy First Time Homeowners!

Just Sold!

6 Winthrop Road, Lawrenceville, NJ 08648

I am please to inform you that I just sold 6 Winthrop Road  to Lizzie & Michael.

As an honest & knowledgeable broker sales associate, with over 32 years experience, I possess the local expertise, access to unparalleled marketing resources, determination and persistence to help you achieve your real estate goals locally or globally through my contacts, connections, and the Sotheby’s International Realty Network. 

With these happy results, may I assist you in the marketing of your current home and the purchase of your new home?  

Call my cell number or e-mail me today so we can start the conversation on how I may assist you. I look forward to working for YOU!

Finding the Right Home

Oak_Place_11_002I realize that as a prospective buyer you like to start your home search on the internet. I admit it makes perfect sense to view listings in the privacy of your own home during hours that are non traditional business hours that simply work for you. Many of you that are looking for your first home or are relocating to the area are making the next step in your search to view Public Open Houses which traditionally occur on Sundays from 1-4:00pm. This is a fabulous way to educate yourself, family and relatives on the current market. This is also your opportunity to meet the listing agent who in many cases has collected extensive information on the home they are representeding and will have this information available at the open house. You can expect to receive the Multiple Listing System print-out, Seller Disclosure, Survey and Feature Sheet with room measurements and descriptions.

 These two methods, the internet and viewing open houses is a great way to start looking for a new home, however, you may want to confide in your local real estate agent as your first step. I make this statement since I supply my clients and customers with maps so they can plot a driving circumference from their place of employment. This way they will not be “spinning their wheels” considering homes that in the end are simply an unreasonable commuting distance from their place of employment with rising gas prices in mind. I also introduce them to a mortgage representative who will run a credit check for free, and pre-qualify my customers for a mortgage. If their credit rating needs to be raised, an action plan to improve their credit is put into place and ways are devised to increase the amount of mortgage they may eventually qualify for. Today’s mortgage representatives are full-time professionals offering a variety of non-traditional mortgage packages that will fit current buyer needs. Last but not least, I place prospective buyers on an Auto Search from the TREND Multiple Listing System. This system will automatically send them new listings before they even hit REALTOR.com or the other public web sites. And if they have a Twitter account that is a plus for them since they will receive tweets of new listings from me and my company.

So I have given you my two cents worth of advice (27 years experience) on how you may want to start your search. Now let’s review what you should be looking in your new home so it is the right home for YOU!

Exterior of the Home

Are the trees and shrubs healthy? Are large trees located away from the home?

Are their drainage low spots around the house which could collect water? Or is the lot slopped for proper drainage.

Does the home have outdoor lighting?

Does the home have outdoor faucets or a sprinkler system?

Are driveways and sidewalks in good condition? What are the requirements of the township or borough for snow removal?

Is the exterior of the home in good condition? What exterior product is used?

What is the visual condition of the windows, doors, and chimney?

Are the roof shingles curled? Does the roof have sages and dips?

Are the gutters sufficient and draning properly? Do the downspouts point away from the house?

Are their cracks in the foundation walls larger than 1/4 “?

Flow of the Home

Does the home have space for entertainment, working and sleeping? Room for guests?

Can you easily access indoor and outdoor eating areas from the kitchen?

Is the refrigerator, sink and stove planned in the work triangle configuration for efficiency?

Can you open and close appliance doors without blocking a walking flow, cabinet or doorway?

Can you arrange your furniture in the home?

Are baths accessible and private without walking through a bedroom or living space?

Is the foyer welcoming with easy access to living space?

Basement to Attic

Does the basement have horizontal cracks which can be an indication of a shifting foundation?

Are beams and joists in good condition?

Is the attic insulated? Can you see evidence of a leaky roof?

Are attic floors springy or sturdy?

Are walls and windows throughout the home free of cracks?

Can you work windows efficiently?

Are the bathroom fixtures in good working order? Flush the toilets and run the faucets to look at the water flow and pressure.

Does the water drain well?

Does the home have adequate electrical outlets to meet your need? What is the current electrical service?

How old are the appliances in the home? Furnace, hot water heater, kitchen appliances? Are they in good condition?

What are the utility services? Public or private?

What is included and excluded in the home sale?

What is covered by the Home Owners Association?

Buyers, I hope I have opened your eyes to how you may want to start your new home search and what you may want to look for when viewing a home with your real estate agent. Keep in mind that a professional home inspector will assist you in defining many of these areas.

Selling Your Home 101

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The first step, before you do anything, is to contact a real estate agent.

A professional real estate agent who has the skills, knowledge, and the experience to assist you and guide you every step of the way in selling your home. You’re agent will prepare, price, and market your home for sale while advising you, educating you, updating you on the current real estate market, giving you valuable showing feedback, and ultimately meeting your goals by negotiating a sale on your behave. Remember, a real estate agent is not paid until your home has sold and closed, – your goals are their goals- – the sale of your home!

As you can see, to sell your home you will need more than an ad in the local paper and a for sale sign on the front lawn!

You need a seasoned professional real estate agent who will:

  • Market your home to receive the best possible selling price.
  • Negotiate the Contract of Sale to meet terms favorable to you the seller.
  • Market your home in the shortest period of time.
  • Advise you so will have a full understanding of the sales process.
  • Create a “team of professionals to put it simply, – – to get the job done!
  • Target the market where the most likely buyers will be. Who is your buyer?
  • Introduce and showcase your home to real estate agents and qualified buyers.
  • Complete the necessary paperwork through-out the selling process.
  • Skillfully work with the other professionals involved to complete the sale.
  • Attend your closing.
  • Follow-up with you after closing to ensure your smooth transition.

The success of selling your home is dependent on several factors:

 1. List Price

This is the most important factor in selling your home. The list price of your home is determined by data collected and reviewed with you by your real estate agent. However, the ultimate market value of your home is determined by what a buyer is willing to pay.

2Location of Your Home 

The second most important factor is the location of your home. The access to a downtown, award winning schools, hopitals, and cultural events. Other criteria a buyer deems important is, the location of the home within the neighborhood or development, the amenities of the neighborhood, the street traffic, ease to obtain public transportation, and to merge onto major roadways.

3Condition of Home 

When you fill out your Seller Disclosure you will give the buyer a glimpse of the care and love you have given your home during your ownership. Buyers are very interested in not only the visual appearance of your home but the structural integrity and the major mechanical systems age and there practicality as well as functionality. A first time home buyer on a tight budget is also looking to purchase a home with new or newer stainless steel appliances included in the sale. To give the buyer a peace of mind, you may also want to offer a Home Warranty.

4Current Market Conditions

 Interest rates, mortgage products, tax incentives, the availability of like properties within the same neighborhood, the current economic and consumer confidence, all influence the salability of your home. Please note these are factors that are out of your control. This is the time to keep your goals in mind, and realize, that your desire to reach your goals out weight the current market conditions.

5Contract of Sale Terms

 Look at all the terms of the Contract of Sale not just focusing on the offering price. There are seven key factors I ask my sellers to discuss with me in relationship to their needs, and goals, when we review a Contract of Sale:

  • Offering Price
  • Deposit Money
  • Financing
  • Closing Date
  • Inclusions and Exclusions
  • Contingencies
  • Additional Provisions

 6.  Marketing 

When your real estate agent, and the real estate firm they have their license with, have the knowledge, skills, along with a marketing department of experts, you can rest assure that your home will be advertised using all available venues. When your home is marketed properly you will sell your home in a shorter amount of time and for the best possible price. A savvy real estate agent working for you, who has the command of the internet, where 94% of buyers are starting their home search, is your best bet!

 

 

Sprucing Up Your Home to Insure a SALE!

Benedek_Road_7_010Keeping your home in “model home” condition to show to prospective buyers is not an easy task. As your real estate agent I understand how difficult it is to show your home at a moment’s notice when you have pets and children living with you.

One of the goals I will set with you is to sell your home in the shortest amount of time with the least inconvience to you and your family. In order to reach this goal of a quick sale one of the many recommendations I will make is to spruce up your home to sell. Of course I will bring my stager to your home but sprucing up goes beyond staging.

Completing the following list of recommendations will indeed cost you money; however, the benefit to you will be selling your home faster to the current buyer pool within the range of your anticipated selling price.

  1. Paint the exterior and exterior trim of your home, front door and columns as needed.
  2. Mulch your lawn beds and place seasonal potted plants at the entrances to your home.
  3. Replace older screen doors with glass doors that welcome light and the outdoors into your home.
  4. Professionally clean windows and screens. You will be amazed at how much larger your rooms will appear!
  5. Professionally clean or replace stained carpets.
  6. Move furniture 2 feet away from walls to create an illusion of space.
  7. Remove personal photos and spackle and touch-up walls.
  8. Clear off movable appliances in the kitchen to give a clean spacious un-cluttered appearance to your kitchen.
  9. Professionally clean all tile and re-grout where needed.
  10. Replace dated vanities in the bathroom with newer cabinets or pedestal sinks.
  11. Re-glaze older tubs and sinks if needed.
  12. Professionally clean your home from top to bottom.
  13. Organize and remove clutter.

By following these recommendations prospective buyers will see that you have cared for your home and they will want to your home theirs!

Are You Ready To Purchase a Home?

 This May Be the Right Time for You

With interest rates at historic lows this may be the opportune time for you and your family to consider purchasing a condo, townhouse or single family home.

 As I review the trends in the local real estate market I see a shift occurring from a buyer’s market to a seller’s market in the The Greater Princeton Area. So as a buyer what does this mean to you? A shift to a seller’s market means that you will have more qualified buyers competing to purchase the same home since a seller’s market is usually accompanied by low inventory. The TREND Multiple Listing System reports that in Mercer County in the month of June the number of single family homes available to purchase was 1920 compared to 2056 in June of 2015.  The number of single family homes settled (closed) June 2016 year-to-date is 1583 compared to 1327 year- to- date in June 2015. This may not seem significant to you but this small percentage change has made an impact in the number of homes available for you to purchase in Princeton and the surrounding area.  I frequently overhear in the office, real estate agents asking other agents if they have a new home coming on the market in a specific price range in a designated area for the buyer they are currently working with to purchase.  The agent and their prospective buyer have exhausted their search of the few homes that are currently available and are anxious to see any new inventory as soon as possible.  I myself have several customers that are experiencing firsthand the shortage of available homes to purchase. For you as a buyer, this shortage of inventory means that you must be working with a real estate agent that knows your wants and needs, have a letter of pre-qualification by a mortgage representative, have your deposit funds available, and have chosen your real estate attorney so you will be able to go immediately from fully executed contract to attorney review.

 As I review my daily “hot sheet” of available homes, homes under contract, pending and sold I see homes selling at list price or in some cases above the list price. Take note that homes in Princeton on average are selling at 18% above the  assessed value. Those homes that are selling over the assessed value are well maintained, updated, and are in a desirable location. This price shift from homes previously selling well below the list price is the effect of supply and demand. This may be the result of “baby boomers” deciding to age in place. Many “baby boomers” may be saying to themselves I can age in place, taking care of my home is manageable. If last winter had been sever we may be looking at a very different situation with more “baby boomers’ deciding to sell their home and move to a warmer more manageable or manage free housing environment. The lack of inventory may also be attributed to homeowners waiting to see if the real estate market improves to the point where they will be able to sell their home at a price that will meet their pricing goals.

This may be the time for you to get “your ducks in a row” and consider purchasing a home. Ask yourself the following questions to see if you are ready to take advantage of what may indeed be the approaching end to a buyer’s market.

  • How long do you anticipate living in your new home?
  • What are your mortgage pre-qualifications?
  • What will the total cost of homeownership be? Consider the monthly mortgage payment, property taxes, homeowners insurance, utilities, homeowner association fees, special assessments, and the cost of maintenance.
  • Do you have the available funds for the additional expenses of closing cost and moving.
  • How much will your home ownership cost decline after adjusting for interest expense deductions and property taxes if applicable.
  • Are home prices favorable to purchase?
  • Do you qualify for any special mortgage program offerings?
  • How does renting vs. buying affect your long-term investment goals?
  • What are your personal preferences regarding the type of home you would like to live in?
  • How does the location factor into your housing preferences?
  • Where may your career take you?
  • What are your long-term personal and financial goals for your housing?

Now is the time to seriously consider your homeownership options.