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M AY / J U N E 2 0 1 5
Assessing a
Neighborhood
Know what you’re looking for and ask
a Realtor to help
by Jamie Lober, Staff Writer
When people contemplate
moving, the location of the new
home is typically the first consideration. You can check the
Internet for recent home sales
as well as crime statistics for the
neighborhood you’re looking at.
But walking around the neighbor-
hood is just as beneficial.
“One of the best things anybody can do is to talk to the neighbors and ask how they like living
there,” said Joe McClerry, CEO
of the Kentucky Association of
Realtors. “Or hang out and just sit
outside the home for a little while;
watch the traffic and the people;
and visit at different times.”
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People already living there can
offer great insight into a neighborhood. “You need to be aware of
things like teenagers bumping music and driving cars up and down
the street,” said McClerry.
Another important factor
in determining the quality of a
neighborhood is the schools. This
is very relevant for seniors. “A lot
of grandparents are raising kids
now and schools are important,”
said McClerry. A school with a
less-than-stellar reputation might
hurt your resale potential.
The mantra in real estate is
“location, location, location.”
“Location is No. 1 because a
smart place will appreciate in
value,” McClerry said. It will also
be priced well. “A good price or
fair price is at or under the comparative market analysis,” he said.
Make sure the house is affordable. “It needs to meet your
expectations, but it is rare that
someone gets 100 percent of what
they want,” said McClerry. “You
need to be willing to modify your
expectations to some degree, and
that is difficult to do.”
Seeing the unseen is important. “You need to have a home
inspection because most problems
in real estate are caused by some
issue that was not known to the
buyer or in some cases the seller,”
said McClerry. There may be
something such as a crack in the
foundation that nobody notices.
Some people like condos that
do not have a yard, while others may want 5 acres or more. “If
you want a farm property, you
will have a different Realtor than
if you buy a house in town or a
condo because those are different
specialties,” said McClerry.
A Realtor can be an excellent
source if you are looking for additional information about a house
or neighborhood. Many new
homeowners appreciate the inside
knowledge Realtors offer.
“You may not know that the
homeowners’ association fees will
be $1,000 a year, but those are the
types of things Realtors know to
ask,” said McClerry.
Some Realtors specialize in
helping seniors find the right
house. “For people over 50 years
of age, look for a Realtor holding the SRES designation, which
stands for Seniors Real Estate
Specialists,” said McClerry. “They
are qualified to address the needs
of home buyers and sellers age 50
and up.” You can find a Realtor
with the SRES designation at
www.seniorsrealestate.com.
A good Realtor will stay with
you throughout the entire homebuying process and will not push
you to buy something too soon or
something that’s not appropriate
for you.
“Do not make a decision too
fast or buy a house that is not in
line with its comparative market
analysis,” said McClerry. “There is
sure to be a home out there that is
right for you.”
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