Kim Duke - WEICHERT, REALTORS® - Briarwood Real Estate

Posted by Kim Duke on 3/12/2018

Looking to add your home to the real estate market sooner rather than later? Ultimately, you'll want to look beyond the potential price of your residence as you get your house ready for the real estate market.

For home sellers, price is one of several factors to consider before they list their houses. In fact, some of the top home selling factors to evaluate beyond price include:

1. A Home's Location

A home's location may dictate how quickly you're able to sell your residence. And if you understand the benefits associated with your house's location, you should have no trouble promoting your residence to the right groups of homebuyers consistently.

For example, a home that is located near a big city may prove to be an ideal choice for those who work in the city. On the other hand, a house that is located near top schools could prove to be an ideal option for families.

2. A Home's Condition

Although you've tried to maintain your house's interior and exterior over the years, you may still be uncertain about how your residence will stack up against other houses in a competitive real estate market.

Fortunately, a home appraisal can help you take an in-depth look at your house's condition and map out your home selling journey.

During a home appraisal, a property inspector will examine your residence. The appraisal may take several hours to complete, as a property inspector will investigate your house's interior and exterior.

When a home appraisal is finished, a property inspector will provide you with a detailed report that describes his or her findings. Then, you can use the home insights contained within this report to prioritize myriad home improvements.

With a home appraisal, you can gain deep insights into your house's condition. That way, you can better understand your house's strengths and weaknesses prior to adding your home to the housing market.

3. The Current State of the Housing Market

The current state of the housing market may impact your ability to sell your house, and for good reason.

For instance, if you're operating in a seller's market, there may be an abundance of homebuyers and a shortage of top-notch houses. This means there will be high demand for the best residences, and you may attract plenty of interest in your house as soon as it becomes available.

Let's not forget about a buyer's market, either. In a buyer's market, there are many home sellers and few homebuyers. Therefore, a home seller may need to allocate significant time and resources to stir up interest in his or her property.

For those who are unsure about how to navigate a seller's or buyer's market, hiring a real estate agent usually is an excellent idea. A real estate agent can teach you about the current state of the housing market so that you can get the best results possible during the home selling journey.

Look beyond price before you list your residence, and by doing so, you can boost your chances of a fast home sale.

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Posted by Kim Duke on 1/29/2018

If you intend to list your house, it may be beneficial to perform home upgrades. That way, you can enhance your residence and increase the likelihood of generating plenty of interest in your house as soon as it becomes available.

Oftentimes, a home's roof will deteriorate over time. And if a home seller is not careful, he or she may be forced to repair or replace a house's roof prior to listing a residence. Because failure to update this home's roof may force a home seller to miss out on opportunities to maximize his or her home sale earnings.

For those who need help upgrading a home's roof, there is no need to worry. Many roofing contractors are available in cities and towns nationwide, and these professionals can help you update a home's roof in no time at all.

Differentiating a top-notch roofing contractor from an ordinary roofing contractor, however, sometimes can be difficult. Lucky for you, we're here to help you streamline the process of hiring the best-available roofing contractor in your city or town to update your house's roof.

Now, let's take a look at three tips to help you select the ideal roofing contractor.

1. Get Multiple Quotes

There is no shortage of roofing contractors at your disposal. Thus, you should receive quotes from multiple roofing contractors in your area.

Reach out to a variety of local roofing contractors – you'll be glad you did. In most instance, roofing contractors will offer free roof evaluations and estimates. Then, you can use the information provided by various roofing contractors to help you make an informed decision.

2. Ask Plenty of Questions

When it comes to selecting a roofing contractor, there is no such thing as a "bad" question. Therefore, you should ask a roofing contractor lots of questions to ensure you can make the best-possible choice.

Remember, roof repairs or updates may prove to be costly. But if you ask a roofing contractor for full details about a roof project, this professional can provide you with the insights you need to maximize the value of your investment.

3. Request Client Referrals

Generally, a roofing contractor can provide client referrals at a moment's notice. These referrals may prove to be exceedingly valuable, as they can help you understand what it's like to work with a roofing contractor before you make your final decision.

If you need extra help finding the right roofing contractor, you may want to reach out to a real estate agent as well. This housing market professional can put you in touch with the top roofing contractors in your city or town, ensuring you can get the home improvement support that you need.

Of course, a real estate agent can provide you with expert guidance throughout the home selling journey too. He or she can help you list your residence, promote it to the right groups of buyers and ensure you can enjoy a quick, profitable home selling experience.

Take the necessary steps to upgrade your home's roof – use the aforementioned tips, and you can hire a terrific roofing contractor before you add your residence to the housing market.

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Posted by Kim Duke on 1/22/2018

Contingencies on a contract to buy a home are there to protect both the buyer and the seller. The contingencies give the buyer the right to back out of the contract if any of these contingencies aren’t met. There are many reasons that buyers back out of deals including financial issues and problems with the home. Below, you’ll find a break down of some of the most common contingencies and what they mean for you as a buyer or a seller.   

Financing Contingency

Most home contracts come with what’s called a financing contingency. This gives you the ability to walk away from a deal if the financing falls through when trying to buy a home. Usually this is due to a credit reason or some other financial reason. You can’t rely on financial cracks to help you to back out of a deal on a home. Lenders will only deny a loan for real financial reasons. There’s no way to ask a lender to lie for you so you can get out of buying a home! This is why you need to make your decision about a home purchase wisely.   

Inspection Contingency

This gives the buyer the right to have an inspection on the home within a certain time frame which is usually 5-7 days. If something is really off with the inspection that you as a buyer don’t feel comfortable with, you have the right to back out of a deal without repercussions. While seller disclosures are important, the seller can’t disclose what they don’t know about. That’s why the home inspection is so important. The seller’s disclosure cannot protect you from hidden damages that may cost half of a home’s worth to repair.   

Appraisal Contingency

If homes are selling fast and you want some secure way to back out of a deal you should consider an appraisal contingency. If the home you want to purchase doesn’t appraise at a price high enough to meet your mortgage requirements, you have a legal way to back out of the deal. For example, if you put down 20 percent of the purchase price of a home and the home doesn't appraise for the value of that purchase price, you’d need to come up with the remainder of the money in cash. An appraisal contingency protects you from having to face this. You’ll still need to have a home inspection done on the home to search for any problems, but an appraisal contingency protects you from any problems with financing and your own disposable amount of cash that could arise due to a home appraising low. 

While contingencies aren’t necessary as a homebuyer, they’re highly recommended. Without contingencies, you could be left with a number of expenses such as damages that are extremely costly to fix.

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Posted by Kim Duke on 12/11/2017

Adding a residence to the real estate market can be stressful, particularly for a first-time home seller. Fortunately, we're here to help you maintain a positive outlook as you await offers on your house.

Now, let's take a look at three tips to help a first-time home seller remain calm, cool and collected after he or she lists a residence.

1. Set Realistic Expectations

Although a first-time home seller might expect dozens of offers in the days following a house's addition to the real estate market, it may take some time to stir up interest in a residence. However, a home seller who establishes realistic expectations from the get-go will know how to stay the course throughout the property selling journey.

A first-time home seller should understand both the best- and worst-case scenarios. That way, a home seller will know how to respond to any potential pitfalls that may arise.

Furthermore, a first-time home seller should have a plan in place for what will happen after a home offer is accepted. This will ensure a home seller is fully prepared to vacate a house as quickly as possible.

2. Learn About the Housing Market

The housing market is exceedingly complex, especially for those who are selling homes for the first time. Conversely, a first-time home seller who takes a diligent approach can gain the real estate market insights to make confident decisions.

For example, a first-time home seller should analyze the competition closely. By looking at the prices of similar houses that are available, this home seller can establish a competitive price for a house and increase his or her chances of a quick home sale.

A first-time home seller also should check out the prices of recently sold houses in his or her city or town. By doing so, this home seller can find out whether he or she is entering a buyer's or seller's market and plan accordingly.

3. Collaborate with a Real Estate Agent

Selling a home may seem like a simple process on paper, but challenges can quickly arise that prevent a first-time property seller from achieving his or her desired results. But with support from a real estate agent, a first-time home seller can get the assistance that he or she needs to remain confident at each stage of the property selling journey.

A real estate agent understands the challenges associated with selling a house and will help a property seller avoid such problems. In fact, a real estate agent is happy to provide expert guidance to help a first-time home seller operate like a home selling professional.

Perhaps best of all, a real estate agent will respond to a first-time home seller's concerns and queries. This guarantees a home seller can obtain unparalleled insights into how to set a competitive price for a residence, how to bolster a house's interior and exterior and much more.

Want to keep things positive as you proceed along the home selling journey for the first time? Use the aforementioned tips, and you can maintain a positive outlook as you navigate the home selling cycle.

Categories: Uncategorized  

Posted by Kim Duke on 11/27/2017

After you accept a homebuyer's offer on your residence, he or she likely will complete a home inspection. Then, the homebuyer may choose to move forward with the home purchase, rescind or modify his or her offer or ask the home seller to complete home improvements.

Ultimately, a home seller is likely to have many questions following a home inspection, including:

1. What did the homebuyer discover during the home inspection?

As a home seller, it is important to do everything possible to enhance your residence before you add it to the real estate market. By doing so, you can boost your chances of generating substantial interest in your house. Plus, when a homebuyer performs a home inspection, he or she is unlikely to find any problems that may slow down the home selling process.

An informed home seller may conduct a home appraisal prior to listing his or her house on the real estate market. This appraisal enables a home seller to identify potential trouble areas within a residence and explore ways to address such problems.

If you failed to perform a home appraisal, there is no need to worry. For home sellers, it is important to see a home inspection as a learning opportunity. And if a homebuyer identifies problems with your residence during a home inspection, you should try to work with him or her to resolve these issues.

2. Should I stand my ground after a home inspection?

Be realistic after a home inspection, and you'll be able to make the best decision about how to proceed.

For example, a home seller who goes above and beyond the call of duty may address major home problems prior to listing his or her house on the real estate market. This home seller will dedicate the necessary time and resources to correct home problems and ensure a homebuyer is able to purchase a top-notch residence.

But what happens if a homebuyer identifies problems during a home inspection, despite the fact that a home seller already tried to correct various home issues?

A home seller should consider the homebuyer's inspection report findings closely. If minor home repairs are needed, he or she may be able to fix these problems to move forward with a home sale. Or, if a homebuyer is making exorbitant demands, a home seller may feel comfortable allowing the homebuyer to walk away from a home sale.

3. How should I proceed after a home inspection?

A home inspection can be stressful for both a home seller and a homebuyer. After the home inspection is completed, both parties will be better equipped than ever before to make informed decisions.

If a homebuyer encounters many problems with a residence, he or she will let the home seller know about these issues. Then, a home seller can complete assorted home repairs, offer a discounted price on a home or refuse to perform the requested home maintenance.

Working with a real estate agent is ideal for a home seller, particularly when it comes to home inspections. A real estate agent will negotiate with a homebuyer on your behalf and ensure you streamline the home selling process.