Costs you need to know at closing!

Closing costs always need to be paid attention to by the real estate agent for both the seller and buyer.  Did you know, when you close a home in WV, the grantors tax is $6.60…that will hit your pocket book pretty hard when you sell.  When buying in VA, most settlement companies and attorney’s will add owner’s title insurance.  The cost isn’t that great, but could run you $500 depending on the price of the home.  To make this a quick post, sellers should expect to pay up $1500 for closing their home (exluding credits to the buyers) for items like: attorney/settlement agency fees, county taxes, wire transfers, courier fees (watch these), etc.  And when buying a foreclosure, the list of costs for the buyer can be higher.  Also, when buying a new home, make sure to check the amount the builder gives for a buyer credit, does go towards the seller costs as well…just FYI..for any of your real estate needs, visit www.DaveSpence.net!

Short Sale is not that nasty!!

I had clients call this evening and ask about the details of a short sale.  Listen up and listen good…I am one agent who hasn’t had all the training needed to give the perfect advice when it comes to short sales, but I do have experience in selling homes when it comes to short sales.  First off, make sure you have a settlement company or attorney on board who have experience in short sale negotiations.  Your “experienced” Realtor should point you in the right direction.  People and public, there are agents out there that don’t know a short sale from Adam!!! Ask them up front to make sure they have education AND experience in Short sales so you don’t end up spinning your wheels…if you need any assistance, email me and I will gladly put you in good hands!

Price, Price, Price!

Word of the day: “Price”.  What does this mean…not so good for me, I HAVEN’T SOLD THEM YET!  However, for my sellers, it means they are one step closer to their goal for 2010, to get their home SOLD!  No seller likes to hear the word “price reduction”, but a good..no…great agent will back his/her opinion with sold homes in the neighborhood or in a close proximity, and have confidence in his/her recommendation.  Clients trust my recommendations, not because it pleases their spirit, or helps their profitablity, but see honesty in the presentation, and truth in the numbers. The longer I am in the business, the better grasp I have on pricing a home.  If you need a straight forward evaluation of your home value, email my office and the numbers will be in your inbox by the next morning!

Challenge your gut!

Many friends and peers say to go with your gut when pricing a home, but sometimes you must challenge that gut (no matter big or small).  This market is considerably difficult to arrive at the perfect market value with some many uncertain variables.  We all need to be educated on what those variables and how they can unbalance how a buyer sees the value of a home.  I had a gut feeling on a home value, but learned it sold for more than the price I suggested. So, thats what I learned today..which only assists  me in giving the public better real estate advice, and service!

Listening to Clients

A quick quote while listening to my client today.  He expressed that I was trying to hard for a certain deal and said this…”Customers teach us everything!”…I thought, whatever…but thinking about more, it is true.  So I will be diligent in listening to clients more, and myself less.  Word of advice to buyers and sellers, interests rate ticked up.  This might be a trend in the coming months, so watch carefully.  This means less buying power for buyers, and less in the sellers pocket.

Back to work…2010

Boy, I totally let the blog get behind..i apologize.  I am now recharged.  I am learning what it takes to blog and especially how to make it fun and insightful…HERE WE GO! Buyers looking in a price range that includes new construction, don’t forget resales…after pricing out a new home…you might find homes on the market that have more upgrades at a cheaper price.  Just a thought, I have buyers now who are torn and its good to see they have more homes to choose from and that they don’t feel they are sacrificing on quality.

Appraisals!!!

Homeowners and future homeowners!  Just a quick bulletin for buyer and sellers, over the past week, I have had three transactions in which the appraisal value did meet the contract price.  What does this mean? Banks are taking a great role in the appraisal process, which in turn is putting pressure on appraisers to meet certain guidelines.  The guidelines are restricting the free opinion of the appraisers and at the same time, disallowing certain neighborhoods the ability to raise the value of their home.  Also, if you are a seller, take note how important it is to have the right market value of your home.  Use a Realtor!

Landscape it

Curb appeal no doubt is selling homes in the sluggish market. Buyers comment as the walk to the front door of any home and say “I love this house!”, and they haven’t even seen the inside!  Sellers, take note of builders and investors who flip properties, if they don’t skimp on the landscaping, neither should you!  If you can do it yourself..fantastic, but your eye is not as well trained as a professional landscaper.  Trust me, my landscaper gave his advice on my listing, and it help the property POP! You don’t have to spend tons of money, just enough to have the lawn and plantings trimmed and mulched.  Visit www.DaveSpence.net for a great landscaper and many other great services!

Home Photos

When listing a home, interior and exterior photos should be the primary focus.  Online buyers want multiple photographs and a true depiction of the inside and outside of a home.  The days of using a cheap camera are dead and gone.  Agents need to use a reasonable priced photographer to get the best angles of a home.  Your first impression to the public is online and what better way then to have wide angled pics highlighting the best features of your home.  See www.DaveSpence.net for homes with exceptional picture quality!

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