Buying and Selling a House at the Same Time

The process of buying and selling a home can be very stressful especially if you find yourself in a situation where you are doing both at the same time.  Depending on the housing market in your area it can be tricky for to juggle both process at the same time.  It becomes incredibly important to rely on a reputable, local realtor to facilitate.

 

In this installment, we will provide valuable tips and recommendations to educate homeowners in the process of achieving what may seem like an impossible task, to sell their current home while purchasing a new dream home.

 

Understand the Housing Market

Before you jump right in and look to buy and sell a home, you want to be sure that you find out about the housing market. If you are looking to buy a new home in the same market that you currently live it should be slightly easier than if you were leaving the area for whatever reason.

 

Create a Plan of Action

One of the best ways to ensure that you will be more likely to be successful in buying and selling a house at the same time is to plan. This plan should be as realistic as possible, make all your goals actionable and attainable. There is no sense making a goal that is not achievable, that would be one sure fire way to be unsuccessful. Including a professional real estate company in the process is a must.

 

Don’t Rely on Timing

When buying and selling at the same time there are so many things that can go wrong and timing may seem right, but it could easily change when the buyer of your home runs into problems during closing. It could also happen to you when you are set to close on purchasing your new home and then something sneaks up and throws a monkey wrench into the works and you are stuck. Sometimes even the best plans can go awry, and you will have to go back to the drawing board to salvage your overall goal.

 

Align Your Finances

One way to make buying and selling houses simultaneous much less stressful is that if you are able to work with a new lender that is willing to work with you to establish your new mortgage and discuss the possible need for a bridge loan to help with paying both mortgages until you can sell your home. You can also request a contract contingency option which means that your home purchase is contingent on the sale of your home. This may or may not be a viable option in all circumstances.

 

Don’t Let Fear Make Your Decision

When it comes trying to buy a new home and sell your existing home at the same time it can be a bit unnerving. The likelihood that you could be stuck carrying two mortgages for a brief or not so brief amount of time is fairly high. However, you must at all cost not allow yourself to let the fear of not being able to afford the two mortgages at the same time to make a bad decision that could end up costing you a lot of extra money.

C21 Lady of the Lakes is a full-service realtor serving Livingston County and the surrounding areas with all their real estate needs.  More information can be found at http://www.ladyofthelakes.com/.

 

Don’t Fall Behind! Here Are 5 Essential Home-Selling Moves You Might Not Be Doing

To get your home sold, you have to tackle a rather long to-do list. Some of these tasks are well-known, and some are just good ol’ common sense—like finding a real estate agent and spreading the word that your house is up for grabs. But some other steps in the home-selling process aren’t quite so obvious.

So to keep these less apparent home-selling tactics from falling through the cracks, here we’ve highlighted five things you may not even realize you have to do. Just in time to start prepping for the busy fall selling season!

1. Reach millennial home buyers

In 2017, for the fifth year in a row, Americans aged 20 to 37 were the largest group of home buyers—at 36%, according to the annual Home Buyer and Seller Generational Trends Report from the National Association of Realtors®. So get smart: Find ways to appeal to this (huge) generation when marketing your home.

These tips will help you attract younger home buyers:

  • Promote your listing on social media. As digital natives, many of these would-be buyers are glued to Instagram, Twitter, Pinterest, and other social media networks. Make sure your real estate agent is marketing your listing on these platforms.
  • Showcase your smart home technology. Millennials love smart home devices and theyre looking for these products when searching for homes. In a recent Coldwell Banker survey, more than half of homeowners (54%) said they would purchase or install smart home devices if they were selling their homes. Of that group, 72% said they would be willing to pay $1,500 more for a home that was smart.
  • Make your house more energy-efficient. Making even small changes to your house (e.g., installing a programmable thermostat, adding attic insulation, or plugging air leaks around doors and windows) can make your home more appealing to Gen Y buyers. In fact, 84% of millennials say theyre willing to pay up to 2% to 3% more for an energy-efficient home, according to a recent study by the National Association of Home Builders.
  • Show off eco-friendly features. It’s no secret that this generation is environmentally aware, but you dont have to shell out tens of thousands of dollars on solar paneling to make your home green. Strategically planting trees around your home can reduce your air-conditioning costs by 15% to 50%, according to Energy.gov. They look nice, too.

2. Make your home move-in ready

Unless you’re selling a teardown, you need to do whatever it takes to make your home move-in ready for buyers.

This means tackling not only large home repairs but also small ones like replacing ripped screens, fixing leaky faucets, unclogging gutters, and mending damaged shingles.

Pro tip: If your house is in lousy shape, consider ordering a pre-inspection, where an inspector scrutinizes your property for problems before you put it on the market. This would give you the ability to fix problems ahead of time—while also presenting buyers with a clean bill of health on the property. Buyers love it, and a home inspection costs only about $200 to $500.

3. Order professional listing photos

If you have a good eye and a good camera, you might be tempted to take your own listing photos. But we’re not talking about selfies here. If you’re looking to sell your home quickly, using an experienced professional photographer is a must.

There’s proof. In one case study, real estate photography company IMOTO compared 350 listings using its professional photography with 350 similar listings without professionally done photos in the same ZIP code. According to the company’s data, listings using the professional photography sold 50% faster and 39% closer to the original listing price than those that didn’t.

4. Prepare for open houses

Your agent is hosting the open house, so it’s her job to make sure your house is ready for the big event, right? Wrong! It’s your responsibility to prep your home before strangers show up at the door.

Here’s a handy checklist to get your home ready for an open house:

  • Remove all prescription drugs from your medicine cabinet. This includes even the ones you think are harmless. After all, you don’t want people knowing your identity. Also, you don’t want people stealing your meds,” says home stager Alice T. Chan.
  • Tidy up. Clear clutter, take out the trash, and do a thorough clean. Dont have time to get these things done? Hire a professional cleaning service, which costs $90 to $150 on average, according to HomeAdvisor.com. It’s money well spent.
  • Organize closets. Overstuffed closets can make your home appear to have insufficient storage space.
  • Protect yourself from theft. Secure jewelry, art, heirlooms, and other valuables. (You knew this one already, right?)
  • Open curtains and blinds. Letting natural light in will not only brighten up the space, but it can also make rooms appear larger.
  • Hide family photos. Buyers need to see a neutral field where they can put down their roots. Having your family photos on display can make that a challenge.
  • Prepare refreshments. Its one of the oldest tricks in the book, but buyers love being greeted with a warm cookie or a cold bottle of water. It’s a home-selling cliché because it actually works.

5. Pet-proof your home

If you have pets, be warned—their presence can be a huge turnoff to some home buyers, says Diane Saatchi, an East Hampton, NY, real estate broker with Saunders & Associates. So, take these steps to make sure your furry family members don’t hinder your sale:

  • Clean the yard. Be prepared for buyers to walk around your yarda stroll that will be ruined if they step in poop.
  • Remove odors. To banish traces of cat or dog urine from carpets or rugs, try a bacteria-eating pet odor remover. If the odor lingers, you might have to hire a professional cleaning service.
  • Vacuum up hair. Pet hair can trigger allergies and send potential buyers sneezing and wheezing out the door. So, vacuum and dust to remove any settled hair or dander around the house.
  • Remove pet paraphernalia. Before showings, tuck away any leashes, collars, toys, water bowls, and food.

Why It Is Better To Use A Realtor Than Going It Alone

At one point or the other in our lives we are faced with the problem of buying homes that meet our specific needs. Some people however, may decide to confront this problem by themselves. Thus, they begin to look for homes for sale. Good and cost saving as this approach might be the unforeseen problems associated with going it alone may wipe away the costs saved.

It is therefore advantageous to find a qualified realtor who has access to real estate listings that are available in one choice area. These realtors have the skills to hunt for homes that meet your taste, income and needs. This will save a considerable amount of time that might be used in productive activities. Realtors are experts that have been licensed to practice and they are guided by codes of conduct which if breached will attract serious penalties. They are expected to place the interests of their clients above their own, hence, they are expected to work for their clients’ satisfaction.

Going it alone may lead to paying more for a home than the actual value. Realtors are pricing experts who are conversant with the prices of different properties. They can come to the aid of their clients by making fair negotiations with sellers. The prices of homes for sale differs from one neighborhood to another depending on the facilities available. Realtors have information about different areas and they can offer valuable advice to prospective buyers. Most times when a property is chosen from real estate listings, it is the job of realtor to inspect the home and request for repairs where it is necessary on behalf of the buyer. A prospective buyer may not be able to handle this issue effectively, which may lead to friction with the seller. The realtors have adequate sense of what is fair when requesting that a home be repaired because of their experience in handling such cases.

The decision to go it alone without an expert realtor may affect negatively the proper transfer of the home to the buyer. It is the responsibility of the realtor to handle paper work. He must see to it that all the papers are signed by those who need to do so. Apart from that, the realtor has the duty to keep these records properly, so that they can be easily retrieved if the need arises in future. Secured record keeping is guaranteed when a realtor is involved in the transaction. There are some properties that are not in the real estate listings in other words such homes are not advertised. Realtors will know about such homes which the buyers can inspect and make choices that suit them.

To forestall future problems with homes for sale, a realtor has the duty of guiding prospective buyers in the choice of property so as to ensure peace of mind and eliminate potential problems. Although, saving a percentage of what a home costs is a good idea however, the problems and the stress associated with such purchase without the expert guidance of a realtor will wipe away such gain.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

20 Deal Breakers That Make Your Home Unsellable

Outdated electrical

plug socket on brick wall backgroundSakeza/Shutterstock

Nothing congers up dollar signs more than electrical issues. In fact, 46 percent of buyers are shocked enough to walk away. “It is a large expense for any buyer to take on, but for investors or those looking for a big remodel it’s just part of the cost of doing business,” says McAuley. For example, if a buyer is planning on a major renovation, they are going to install new electrical anyway. But for those desiring move-in ready, this could zap their interest in buying. Outdated electrical isn’t the only dangerous thing lurking in your house; watch out for these hidden dangers in your home.

Not enough natural light

empty white interior with doorDGArt3D/Shutterstock

How many times have you heard a home buyer on TV walk into the room and exclaim, “I love the natural light!” “Lack of natural light or dark rooms are a drawback for many buyers,” notes McAuley. While adding a window or opening up a room to bring in more natural light are options that aren’t hugely expensive, 43 percent of buyers consider it a turn-off.

Dilapidated neighboring property

Old wooden siding painted in white. White old siding background.Stocker plus/Shutterstock

It’s a shame to find the perfect home only to discover the property next door is run-down. Unless the neighbors plan on doing renovations or moving soon, 43 percent of buyers say it’s a no-go and move on. “An unsightly mess is probably going to bother you more as you own and invest in your own property,” cautions McAuley. “Remember, you can make a house what you want, but you can’t change the lot or location,” says McAuley.

House is near a busy road

18 wheeler semi truck at night on highway5m3photos/Shutterstock

“A house located near a major road or highway is a big negative. It will bring noise and traffic and even if a buyer is OK with it, it will be difficult to resell down the road,” cautions McAuley. Not surprisingly, 43 percent drive off on this one.

Small room sizes

Blue new children bedroom on the attic, bedPhotographee.eu/Shutterstock

“Large, open spaces are the rage among home buyers in today’s market. The small, choppy rooms so popular in the 50s and 60s are a big turn off,” notes McAuley. Buyers may have a difficult time imagining the possibilities if the walls were torn down to create an open floor plan or they don’t have the budget to do it. Either way, 40 percent close the door on these houses.

Small kitchen

White Kitchen Interior Accessories Dishes Staff Apple Grocery Products Stand on TableOlga Pink/Shutterstock

“If you’ve ever had people over for a dinner or party, you know that no matter how much space you have in your home, the kitchen is where everyone ends up hanging out,” says McAuley. A small kitchen or one that is closed off is a huge deterrent whether you’re a frequent dinner party host or not. According to Realtor.com, the kitchen is the favorite room of a home for 80 percent of buyers. It’s no wonder 39 percent lose their appetite and look for something more substantial. No matter the size you can make your kitchen look expensive with these tricks.

Bad DIY projects

DIY hammer, nails and plank on table backgroundAfrica Rising/Shutterstock

DIY can get ugly quick and it can be expensive to fix. A crooked towel bar or a ceiling fan that isn’t quite centered aren’t likely to send buyers running, but bigger DIY projects like doors that don’t completely shut or gaps and buckling in flooring steer 38 percent of buyers away. “A bad DIY can usually be fixed, but no buyer wants to pay for updates they don’t like or that look cheap,” says McAuley. You have to see these DIY fails to believe them.

Student housing is next door

Spilled Beer Pong Cup on a Wooden TablePam Walker/Shutterstock

It’s often a rite of passage for newly independent college students to host parties, with blaring music, and general chaos all hours of the night. Of course, there are exceptions and maybe the tenants will be quiet. But who knows what kind of tenants will be there the next school year? “Student housing can be a nonstop revolving door and there are usually too many unknowns for the buyer,” says McAuley. The thought of too many nights of lost sleep deters 37 percent of buyers.

HVAC on the fritz

central heating system PAKULA PIOTR/Shutterstock

Nothing says “cha-ching!” quite like faulty or old HVAC systems. Heating, cooling, and ventilation are major components that are costly to repair and/or replace and 37 percent of buyers get cold feet and walk away. But if a buyer is set on the house McAuley suggests the buyer factors in the cost of replacement and deduct from the price of the home before making an offer.

Dislikes exterior finish

Old Stone House on a Country Road in Rural England1000 Words/Shutterstock

A quaint stone cottage is cozy and charming but not a popular exterior for 31 percent of buyers. “It’s not a mainstream or popular look and the house may stand out as inconsistent with the neighborhood,” says McAuley. “A buyer could look into replacing the exterior if the price is right which could be possible since the seller is likely dealing with a much smaller pool of buyers.” Read on to find out the biggest regrets of first-time homebuyers.

Original Source: https://www.rd.com/home/improvement/things-that-make-your-home-unsellable/

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How Staging Your Home for Sale Can Affect Its Value?

When it comes to selling a home, everyone seems to have their own opinion as to what will make it sell faster and for more money.  Some realtors believe that the smell of freshly baked cookies will convince a person to buy, while other real estate agents think that a home needs to be perceived as warm and inviting to entice a purchase.

Well, if you are the type of person that thinks that an empty home is easier to keep clean through all those open houses, and you want to remove everything, you may want to think twice.  It turns out that the aroma of cookies and cozy spaces can decrease the amount of time a house stays on the market, because potential homeowners can see themselves living there.

In addition to staged homes selling faster, most sellers and their real estate agents will agree that the value of the home will increase, due to the way that it looks when potential homeowners are walking through it or looking at the pictures online.  Some real estate agents believe that the home’s value will only increase by a percent or two, while other realtors believe that the value of the home will increase by as much as twenty percent.

One of the easiest things that you can do when staging your home is remove all the personal items from each room.  These items often include family photos, as you are trying to have someone else imagine themselves living in the space, and that is difficult to do when another family is staring down from the walls.

You will also want to remove any clutter, including that pile of shoes by the front or back door.  The idea when staging a home is to show how everything has its place and that there is room for everything.  It gives the appearance that the home is larger than it is, which is why many realtors will also recommend removing half of the items from inside all the closets.

Your real estate agent will want you to stage your home a specific way prior to having any pictures taken for the website.  That will ensure that your home looks exactly right to potential buyers from the start and hopefully will lure them to the open house.

Of course, once your home has been staged by your realtor, you will not be able to make any changes to it until it has been sold.  This can be difficult for some people, as you may feel that you are living in a museum but keep the end result in mind.  That shouldn’t be too hard, as a little extra money can usually motivate anyone.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

The Lake Home Of Your Dreams Isn’t Always Perfect To Begin With

Can’t Find Your Lake Of The Ozarks Dream Home? Buy A Fixer-Upper And Make It Your Own

Earning the designation of best recreational lake in the U.S. has made the Lake of the Ozarks even more popular among visitors and home buyers. Local businesses have enjoyed the benefits of booming tourism and it’s made for an incredibly hot real estate market.

On the other hand, with home buyers from across the country eager to own a slice of paradise at Lake of the Ozarks, local real estate listings are dwindling. The Property Shop at the Lake owner Tina Stotler said this dynamic has made it especially difficult for mid-level buyers to find Lake homes that fit their budget.

“Lake-wide, we are experiencing a very low inventory of homes, both waterfront and off the water,” Stotler said. “And homes under $400,000 are particularly hard to find.”

But all is not lost. Stotler says investing in a fixer-upper is a great opportunity to purchase a lake home without breaking the bank.

Check out some before/after fixer-upper photos from a home sold by The Property Shop at the Lake:

“Fixer-uppers are an affordable way for buyers to get into a home and customize it to their lifestyle,” Stotler said, noting that obtaining a loan for renovation projects is easier today than in the past. She regularly works with lenders who understand the dynamics of renovation projects and have lengthy  experience in helping borrowers navigate the approval process.

“Lenders now have a special loan program for purchasing a fixer-upper that includes additional funds to update and remodel. There is only one closing and one closing cost.”

Stotler stressed that financing is only one of many factors to consider when purchasing a fixer-upper property. Owners should take into account the location of the house, the type of lot it sits on, waterfront issues, foundation problems, things that can and cannot be changed, as well as the overall potential of the home.

“One of the most important things to consider when purchasing is to keep an open mind. If the location of a property is good and the lot is nice, you should consider the potential in the house,” Stotler said. “Buying a property that needs work gives you the opportunity to ‘make it’ what you want.”

Still, tackling a fixer-upper is not for the fainthearted: it can be a daunting task for even experienced renovators.

Renovation projects can cost more in time and money than anticipated; and Stotler emphasizes working with a real estate professional who has relationships with local contractors and sub-contractors along with experience in guiding buyers through the fixer-upper process, is a must.

“Your Real Estate Professional should be able to help guide you with more than just the purchasing aspects of buying the property,” Stotler said. “Ask them if they have information on permitting, recommendations for contractors, making sure you can permit your dock, or replace it with a bigger dock, etc. The list is long and you want a realtor who knows the answers.”

Herself nearing the end of a lengthy journey through renovating her family’s former Lake home, Stotler is well aware of the pitfalls and the rewards of bringing new life to older homes.

“When I decided it was time to move back into a lakefront home, I looked for several months to find the perfect ‘fixer upper,’“ Stotler said. “Based on purchase price, renovation costs and accomplishing my ideal results, I realized that nothing could replace the location and the memories of my parents’ lake house.”

Stotler purchased the house from her brother and began the renovation process utilizing the craftsmanship of local contractors and sub-contractors to add 1,340 square feet and a 2-car garage to her former childhood lake home.

Nine months later, she readily admits that renovating a fixer-upper can be an arduous process, but she stresses that the final result makes it well worthwhile.

“My ‘dream home’  and ‘fixer-upper’ will be done sometime in mid-September and I’ve experienced first hand how taking on renovations, big or small is not an easy decision or an easy task,” Stotler said. “It takes a lot of imagination, cooperation and patience. But the end result can be very rewarding.”

Original Source: https://www.lakeexpo.com/advertorial/can-t-find-your-lake-of-the-ozarks-dream-home/article_60c56f36-969f-11e8-8f70-e7ca8a812457.html

     

    Dual Agency-Why Buyers and Sellers Should Avoid It

    There can be some confusion when it comes to the role of real estate agents whenever a real estate transaction is being executed. In most states, an agency disclosure form is required and should be signed by both seller and buyer. This form is typically a disclosure, not an agreement and details the roles of each party in the real estate transaction.

    In a typical real estate transaction, there is either a single agent or a dual agent. A dual agent is a real estate broker who represents both the seller and the buyer. This is important because, in a traditional real estate deal, the broker only represents the seller. Sometimes the lines become blurred and the broker crosses over to the buyer and negotiates a better buying price. While this is a common practice in the real estate arena, it is considered unethical and can even illegal in many states. In a dual agency setting, the broker is required to disclose that he or she is working with both the seller and the buyer.

    Single Agency

    In a typical real estate setting, the buyer works with a single buying agent. Sellers, on the other hand, work with brokers or selling agents who are working in a single agent capacity listing agents. Legally, these single agents owe a fiduciary responsibility to their clients and documents are signed to this effect. For instance, they cannot share confidential information with the other party or the other party’s agent. Single agency agents must exercise due diligence in the performance of all their duties, be forthright, and disclose all material facts.

    Dissecting Dual Agency

    Owing to the fact that all real estate agents are licensed under a real estate brokerage, it is not uncommon to find the same agent licensed by the same broker as the listing agent. This situation creates a dual agency. Even if the agents are located in separate offices and do not know each other, nevertheless a dual agency scenario exists because they are both licensed by the broker (one representing the buyer and the other representing the seller).

    Here is how dual agency essentially plays out in the real world: after qualifying for a home, the buyer works with a real estate agent who in turn is registered under the same brokerage firm that has listed the home. In this scenario, a dual agency has been created by that real estate agent. In many cases, the agent proceeds as if it is a single agency transaction. The law, however, requires that this dual agency is disclosed.

    A listing agent for a property who also represents the buyer of that property automatically becomes a dual agent. Because dual agents cannot operate in a fiduciary relationship with both the seller and buyer, they must treat both equally. They can offer advice to both but cannot disclose confidential information. There are instances where real estate agents have found themselves embroiled in lawsuits for failing to adhere to these standards.

    Consider the complications that a dual agency can cause.  If an agent is adamant about proceeding in the representation of both transactions be careful and consider hiring an attorney to review the transaction thoroughly before signing on the dotted line.

    Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

    Beat the Crowds! How to Buy a House Before It Officially Hits the Market

    Buying a home is a lot like running a race: Once a listing goes live, buyers have to sprint off the starting block before throngs of other buyers start bidding. Talk about stressful!

    What if there were a way to buy a house before it’s officially on the market?

    Well, there is—and it can help you snag your dream house long before your competition even knows it exists.

    “Making moves to get ahead of the general public when you’re the buyer is wise if you want to get the perfect house,” says real estate investor Steve Davis, founder of Real Wealth Academy, LLC. “All it taskes is a little ingenuity and some sleuthing, to find out which homes are going on the market before the listings go live, so that you’re ready to pounce.”

    Want to get ahead of the curve? Here are some secrets for beating the crowds.

    Ask your agent about listings he’s trying to get

    Don’t just ask your real estate agent about current listings; ask if there are any listings he or she is working on where the seller hasn’t signed on yet.

    “Basically, the agent will try to find an interested buyer before they have even locked down the listing, and use that to entice the seller to sign the listing agreement with them,” says Davis. You’re basically offering yourself up as “bait,” so to speak, and the listing agent will help you do it because it’s mutually beneficial. Of course, you aren’t promising to buy a place, but if you’re seriously interested, that can be enough to get your foot in the door before the rest of the world hears about it.

    Hone in on homeowners undergoing life changes

    One great place to seek out budding home sales in a neighborhood is to infiltrate their local parenting groups. After all, parents are all in “transitional periods—with newborns, babies on the way, or young children heading off to school,” says Davis. “Thus the likelihood of these families looking to move is very high.”

    Additionally, paying attention to the “life events” of people in these areas via local papers or other outlets can also provide solid leads. Check local announcements on births, weddings, and yes, even the obituaries (a bit morbid, but many of these homes will be market-bound in the near future).

    Another place that may be plugged into upcoming sales are social clubs.

    “Utilize social clubs as a forum to ask if anyone is selling a home,” says Collin Bond, Esq., a broker at Triplemint, a company that specializes in off-market property outreach for their clients. “Clubs like the Junior League, Lions Club, or Knights of Columbus can be great places to inquire about people thinking of moving.”

    Do a mass mailing

    Sometimes, a little retro outreach can also work wonders—which is why you should consider doing a mailing to the people in the neighborhood where you wish to reside.

    Davis suggests using a company like Dietrich Direct to purchase residential mailing lists for the area you’re interested in (costs are low, starting at $25). Then draft a letter to send to all those homeowners. “In the letter, simply state that you are looking to buy a home in their area and ask if they will be selling any time in the near future,” says Davis.

    You can also post “bandit signs” in the area, essentially flyers or posters stating that you’d like to purchase a home in this area and that people should contact you if they know anyone who might sell. Davis suggests that people hesitant to post their own phone number can use a Google number or create an email account just for this purpose.

    Hit up HOA boards

    If there’s a certain building or community you’re interested in, contact its HOA or condo board and inquire if anyone has heard rumblings of any places that might soon be up for sale.

    “I’m frequently inundated by requests to see my listings before they launch, by people who’ve heard about it from the head of the board or someone in the building,” says Brian Letendre, a broker at Bohemia Realty Group.

    In fact, many neighborhoods and buildings have their own online sites, Facebook pages, or online communities, which can be a perfect way to get the insider scoop on homes or apartments about to be listed.

    “Another suggestion would be to search hashtags for the neighborhood you’re interested in on various social media platforms, and include #realestate or #moving,” adds Letendre.

    Use current listings as a springboard for up-and-comers

    Current listings may be out of the bag, but that doesn’t mean you can’t use them to find listings that may be waiting in the wings.

    “Go to open houses in the area where you are looking, and chat up the neighbors if you see them,” says Bond. “Ask the real estate agent and neighbors about the neighborhood, and try to work in a question about if they know of other homes becoming available.”

    Original Source: https://www.realtor.com/advice/buy/how-to-buy-a-house-before-its-listed-on-mls/

    Original Date: Jul  18 2018

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    Essential Questions to Ask When Choosing a Realtor

    When it comes to buying or selling property it is extremely important that you enlist the assistance of a real estate professional in the area you are looking to buy or sell the property. Regardless of whether you have some amount of real estate experience you cannot equal the knowledge that an agent that is from the area that you are looking at has of the local market.

     

    When you find a local realtor that you think you might be interested in working with you should sit down and discuss things in order to select the best one for your needs. We put together a list of essential questions that should help you to glean all of the information from that you will be able to use to make your final selection.

     

    10 Essential Question to Ask When Choosing a Realtor

     

    How many years have you been in the area?

    This is extremely important to get to know whether or not they have enough knowledge of the local community. If they don’t have many years of experience, this should give you a reason not to go with them.

    How many clients are you currently working with?

    Finding out how many people they are working with will give you an idea of how much time they could devote to your needs.

    Do you work with most buyers as compared to sellers or vice versa?

    If an agent works mostly buyers or mostly sellers, they may not have as much experience with the other and that could be an issue.

    Is there a specific area that you cover?

    Finding out up front if your agent is tied to a specific area can end up limiting you in your opportunities.

    Does your agency use teams and are you part of one?

    Knowing if your agent is part of a larger team is a good thing to know so that you know that you could be working with another agent at some point.

    Are you able to handle a few of these unique situations?

    Put together a list of unique situations and see how they respond to each specific situation.

    How do you prefer to handle communication with your clients?

    It is a really good idea to find out right off the bat how you will be communicating with your agent.

     Do you have a rapport with some of the local professional groups?

    It is really important for an agent to have a really good working relationship with the key vendors that work in the areas related to real estate.

    Can I get 3 references with contact information?

    It is always important to get references so that you can find out what other people who already worked with think about them.

    Do you have any questions for me?

    Last but certainly the least, ask if they have any questions.

    Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

     

     

    Real Estate Tips for Buying Homes on the Water

    Living near the water is a dream for most people. It is peaceful and tranquil.  Most often home on the water are away from the city’s utter over population. There is a level of calm that always exists along with a view that is spectacular every time of the day. Living on the water also means more privacy as your house is not blocked by houses stacked one on top of each other.  Water front homes are directly in front of the open water. Which allows you to take part in water-related activities such as swimming, water skiing, fishing, boating, ice skating and more.  Waterfront homes also retain their value better than most other types of real estate.

    Often lake homes are more difficult to buy and harder to negotiate than a land-locked property. Here are some tips from professional real estate agents to keep in mind when looking into buying waterfront property.

    1. Finding a Real Estate Agent That Specializes in Waterfront Homes

    Many real estate agents do not have the expertise and knowledge it takes to purchase waterfront properties. As a home buyer you should always look for a real estate agent who specializes in lake front property as they would have a better understanding on the pros and cons of different waterfront properties.

    1. Focus on The Property

    Don’t just buy a home on the lake to say you have lakefront property.  Many buyers are disappointed on their home once they have moved in when they realize the homes pitfalls.  The basement may leak, the view may not be what you wanted, it can be muddier than you are wanting to deal with or many other issues may exist that you took for granted being focused only on getting a home on the water.

    1. Taking Out a Home Loan/Mortgage

    Lake homes are often more pricey than other types of property.  Buyers looking to purchase a home on the water are advised to investigate mortgage preapproval sooner than later.  Lenders often consider the most eligible and credit worthy buyers.  With pricey water front property, it may take longer to work out a loan agreement between the lender and the buyer.  It will be important for the lender to be sure that the buyer has considered the cost of insuring a lake front house as well.

    1. Focus on The Structure of the Home

    Properties in front of the water receive more abuse from added elements.  It is suggested that extra measures should be taken to protect the property. For example, using stainless steel locks or storm shutters.  The homes structure should be thoroughly inspected to make sure that there are not signs of any structural damage which could destroy the integrity of the home.

    Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.