S P E C I A L S E C T I O N : R E A L E S TAT E
BUYING/SELLING: Your real estate
6 agent matters.
According to Zillow CEO Spencer Rascoff, research shows
gender matters when choosing a real estate agent. Rascoff says
men will get your home sold closer to asking price because
they are stubborn, while women will negotiate and close the
deal faster. Most importantly, find an agent who will work on
your behalf. Ask friends and family for references of agents
they’ve used in the past. Look up their current listings to see if
they align with the type of home you want to buy or sell. This
will also indicate their knowledge of the market.
7 BUYING/SELLING: Get a second
opinion.
When you have lived in your home for years, it’s easy to
overlook problems that potential buyers may spot right away.
Have a relative or trusted friend come over to spot any small
fixes that you can make prior to putting your home on the
market to make sure it’s in optimal condition prior to selling.
When considering buying a home, it’s also helpful to have
someone who is not buying the home go with you to take a
look. He/she will be able to point out potential issues that you
may not see when trying to make such an important decision.
8
4
5
BUYING: Protect yourself!
It’s easy to get wrapped up in signing papers and losing sight
of what you are agreeing to when buying a home. Fortunately,
contingency clauses can protect you from losing what is yours.
An example is a mortgage-financing contingency; if you lose
your job or your loan falls through, you’ll get your “earnest
money” back in full. Otherwise, you may be obligated to
follow through with purchasing a house you can no longer
afford.
BUYING: Enjoy the view?
It’s obvious that homes with a view can sell big. In fact, Realtor.
com states that homes with a view of the city sell the fastest,
with an average of 83 days on the market, while homes with
an ocean view sit for 98 days (mostly due to the elevated price
of oceanfront property). If you are in love with a home with a
view, be sure it is there to stay. Although you may see rolling
hills through your living room window now, who’s to say a
real estate developer won’t see that same space as the perfect
opportunity to build more homes? Check with your local
municipality for land use regulations to make sure your view
will remain.
THIS SECTION SPONSORED BY
16 724.942.0940 TO ADVERTISE | Monroeville
SELLING: Ignore the housing market.
Don’t waste your time watching the housing market for the
best time to sell. According to Investopedia, “it doesn’t matter
what your home is worth at any given moment except the
moment when you sell it. Being able to choose when you
sell your home, rather than being forced to sell it due to job
relocation or financial distress, will be the biggest determinant
of whether you will see a solid profit from your investment.”
SELLING: Will renovating always
9 increase my resale value?
Make conscious decisions when renovating your home. While
newer will entice potential buyers, be cognizant of what
rooms you update and how you do it. While updated kitchens
will increase the value of your home, be sure to appeal
to a wide range of tastes. A good place to start is with the
appliances. Realtor.com states that homes with stainless steel
appliances sell 15 percent faster than those without. Updated
bathrooms are easier to satisfy a wider range of buyers’ desires
for luxury, but be sure to keep the colors neutral.
SELLING: Don’t spend earnest money!
10
Many sellers make the mistake of depositing and spending
earnest money before closing day. If the transaction doesn’t go
through or the buyer pulls out due to repair issues, it is up to
the seller to return the cash. It is recommended to have a real
estate agent or broker hold the deposit. Most buyers’ earnest
money will be held in an escrow account until the closing day,
allowing the money to remain untouched by either party.