Real Estate For Buyers & Sellers

 

 

Hello Everyone,  Here are some great tips for buyers and sellers in Today’s Real Estate Market.

Tips for buyers

1 It’s all about location
Whether you’re a first-time buyer, investor or existing homeowner, you need to understand the best locations for your investment, Linda says.  “Buying the smallest house on the best street versus the largest house on a less preferred street will reap big rewards when it comes time to sell.” As an investor, a condominium that is near public transit or a university is a good move.

2 Think about a condo
There’s a surplus of inventory in the condominium market, so your realtor should be able to negotiate a good deal for you when it comes to buying a condo, Linda says. If you’re buying as an investor, rather than a first-time homebuyer,  you will want to consider leasing out your suite for the next four to five years before selling, she explains. “It’s been suggested that the condo market should be in an upswing by 2013.”

3 Know your credit rating
It’s best not to just assume your credit rating is in order. To avoid getting any surprises before you meet with a lender, check your rating first so you have time to resolve any issues that might stand in your way of buying. You can call either Trans Union of Canada at 1-800-663-9980 or Equifax Credit Information Services Canada at 1-800-465-7166.

4 Know your price range and stick to it
Meet with one or more mortgage lenders to obtain a pre-approved mortgage before you start house hunting, Linda says. Once you know how much you can spend you can narrow down your choices. It’s safer to buy within your budget, no matter the economic situation.

5 Head out of the city

It’s booming in Milton, Ont., for example, Linda says. Young families are heading there to buy affordable and newer resale homes. Sometimes it pays to go further afield depending on what you’re looking for. If you want more space and more property, but have a budget to stick to, a downtown location won’t do. You have to widen your circle of prospective locations.

Tips for sellers

1 Refresh and beautify
Getting your home ready for sale is crucial. Linda suggests considering a consultation from a professional stager so your home’s potential is maximized when potential buyers see it. Think about getting rid of clutter, adding stylish accents to tired furniture and tidying the yard for curb appeal.

2 Upgrade and update
You don’t have to completely renovate your home, but consider updating areas that are tired, such as replacing a kitchen counter and sink or replacing worn carpeting. Adding hardwood to a room or two is also helpful as this upgrade is becoming very popular to buyers, Linda says.

3 Make sure the price is right
Price your property right the first time, according to the current market conditions in your area. Some sellers believe that if they overprice their property, they have more room to negotiate or they can always reduce it later, Linda says. “This strategy can really hurt the seller.” Prospective buyers will search for homes within their price range. If your home is listed too high, buyers may skip over it.

4 Don’t worry about a closing date conflict
If you receive a great offer on your home but the closing date is up to 30 days later than the closing date of the property you already purchased, don’t sweat it, Linda says. Most mortgage lenders will approve bridge financing for approximately 30 days, if all conditions have been removed and you have a firm sale. For peace of mind, speak to your current lender prior to listing your property to confirm this, she suggests.

5 Get the best representation
Your home is most likely your largest investment so you’ll want to feel comfortable when you go to sell it. Start off right by selecting a real estate agent who you feel you can trust, Linda says. Find someone who has a solid marketing plan plus a proven track record of successful negotiated sales.

Please give us a call today to speak to one of our agents and how we can help your home buying experience!

Cordially,

Scott Myers, GRI
Broker-Owner
Century 21 Scott Myers, Realtors – 2015 Fast Track winner as voted by the San Antonio Business Journal
11830 Wurzbach Rd. (The Elms)
San Antonio, Tx. 78230
Phone # 210-479-1222
Fax # 210-479-1981
Toll free Phone # 1-888-868-1222
Scott.Myers@Century21.com
Find us: Web Site | Facebook | Twitter | ReachFactor | Google +
Check out our Blog: Living in San Antonio
http://www.bizjournals.com/sanantonio/blog/2015/06/fasttrack-winners-announced-in-under-10m-category.html

Home Improvements

Hello Everyone,

Homeowners make improvements for different reasons; comfort, aesthetics, or to make a change. They often believe the improvement will increase home value above the improvement cost. This theory may not be correct.

One makes judgments about which improvement projects to tackle, or forego, with facts. This advice is for homeowners who enjoy their home for a variety of reasons and want to improve it. Exceptions to these tips are standard.

The meltdown of real estate values has shown us that we cannot always count on a home providing a safe return on investment. This same meltdown is a compelling reason to look at home improvements with a critical eye. Here are some considerations:

Seven insightful tips

1. Overpaid for the home. Some of us overpaid, others did not. If the improvement is over ten percent of the purchase price, it may be wise to get an appraisal. Instruct them to do an “as is” value and an “as improved” value. The appraiser will want a drawing of the planned improvement and the intended materials. If the “as improved” value brings a $25,000 higher sale price estimate and the improvement costs $50,000, you may want to consider other options. One of the best improvements to consider here may be to increase the home’s usable square footage.

2. The neighborhood and the supporting cast. Avoid being the only home in the surrounding area with a new kitchen. Are area homes comparable in value? Is the neighborhood attractive? Does it enjoy an active resale market? Are there construction dumpsters in driveways? Is pride of ownership evident as one drives through the neighborhood?

3. An individual home’s substance can suggest the best types of improvements;

• Is it an old, dated home? Plan to spend a bundle.
• Is it a well constructed home? Destruction and better materials are more costly.
• You want to air condition, but the heating system is not a duct system but a hot water boiler. Air ducts in the ceiling can be unattractive and less efficient.

4. The quality of materials should match the home. Inexpensively constructed homes, average homes, and high-quality homes all have a place in the market. If you have an average quality home, install average quality materials instead of high-quality products or low-end materials.

5. What improvement are you planning? A swimming pool is a risky investment when compared to new kitchen cabinets, floor, and countertops. Before you decide on a project, ask yourself if other projects would be a safer bet. Make a list of potential projects before deciding and consider seeking an opinion that you respect.

6. The quality of installation is important. Consider learning Do-It-Yourself projects somewhere besides your home. Be cautious of the tradesman who will quote a very low price. Find a contractor who has done many similar projects and view examples of their work. There are too many three months long projects that take two years to finish only to end up with a botched job.

7. How long will you live in the home? Are you making improvements knowing you will be relocating in two years? Consider seeking competent real estate advice. Many agents agree that some elbow grease, soap and water, and a fresh coat of paint are the areas of the greatest returns. Small items like faux shutters are inexpensive but add appeal.

Give us a call to speak to one of our agents today!

Cordially,

Scott Myers, GRI
Broker-Owner
Century 21 Scott Myers, Realtors – 2015 Fast Track winner as voted by the San Antonio Business Journal
11830 Wurzbach Rd. (The Elms)
San Antonio, Tx. 78230
Phone # 210-479-1222
Fax # 210-479-1981
Toll free Phone # 1-888-868-1222 Scott.Myers@Century21.com
Find us: Web Site | Facebook | Twitter | ReachFactor | Google +
Check out our Blog: Living in San Antonio
http://www.bizjournals.com/sanantonio/blog/2015/06/fasttrack-winners-announced-in-under-10m-category.