If you're planning to go bargain hunting, you are likely to come face to face with a special challenge: the long-vacant home. Many of these properties have been foreclosed, and now rest in the hands of the bank. The owners are long gone.
While the greatest percentage of these "distressed properties" are still in fair to good condition, how can you be sure of possible defects in the home when the previous owners are not available to disclose such facts?
Since the bank-owners and their real estate agent may not know all the details about the previous owners, you would be well-served by ordering a "pre-inspection" if you find an attractive property at a low price. Hire an inspector for a preliminary look, and do not make an offer until you know more.
You can pay just a couple hundred dollars for a brief inspection, money well spent before you submit a bid. Having an idea of the home's true condition can help you determine your offer, or help you make a decision to walk away from the deal, without any obligation.
If the utilities are cut off, ask your representative about getting them turned on during the inspection, which is critical to the inspection's accuracy. Take a careful look at recent sales in the neighborhood, and make your offer armed with knowledge and confidence!
Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson
For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.
When selling a home, two situations may occur which are red flag indicators of a lengthy sale time. Each requires the property owners' attention in cooperation with their sales agent, and involves either the price or condition of the home.
The first involves a home that has been on the market for 60-90 days, but has been shown only once or twice. More buyers are beginning to enter today's real estate market, and homes for sale should be attracting a number of prospects.
When buyers choose not to tour a home, the reason is often the price. Homes that are attractive, but not being shown, are often priced “above” the market. The key to increased showings, then, is to learn the market price of the home, then reset the price.
The second “red flag” occurs when a home is being shown often, but neither sells nor attracts offers. The home's condition is often the culprit in this situation. Buyers learn the price, then drive by, making a judgment that it is an attractive home. Once they see the home, however, their interest evaporates.
The solution can be a critical “walk-through” by the sellers' agent to identify needed repairs and cosmetic improvements. Until corrected, traffic is likely to remain high, while the chances of selling remain low. Remove these red flags and prepare for a sale!
Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson
For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.
A recent profile of buyers and sellers compiled by the National Association of REALTORS® has revealed promising, if not surprising statistics about the changing face of the marketplace. The percentage of first-time buyers is on the rise, and they are making their purchases for the long term.
Frankly, this makes sense, because first-time buyers aren't struggling with the sale of an existing home. Combine that advantage with low home prices, large inventories, and low interest rates, and the result is a positive trend for both buyers and sellers.
Recently enacted tax credits and modifications in the Federal Housing Administration are also helping buyers, along with predicted increased credit flow from a federal funds injection into the banking system. More buyers entering the marketplace means more sales, reduced inventories, and increasing home values.
The profile of sellers shows that over 90% used a real estate brokerage to market and sell their property. Buyers profiled listed the most important agent services as helping to find the right home and negotiate satisfactory terms and price.
If you're planning a purchase, and need funds for a down payment, learn from buyers in the study who mostly used savings or a gift from family, and who also chose a fixed-rate mortgage over 90% of the time. Consult with a trusted agent today, and get on board the home ownership train.
Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson
For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.
Over 60% of American households have at least one pet, be it dogs, cats, or any variety of furry or feathered residents. With the number of foreclosures in the recent past, you may not have considered the millions of pets faced with vacating their homes, or worse, facing abandonment because their owners are unable to find temporary shelter, as they themselves are forced to relocate under stressful conditions.
If you or someone you know is experiencing a similar situation, you'll be pleased to learn that a non-profit organization called No Paws Left Behind is educating the public and helping to provide solutions for "foreclosure pets." Their mission is to assist owners with loan workout options, but they also provide resources for finding local no kill shelters, foster care programs, and other alternative housing for their pets.
When you visit their website at nopawsleftbehind.org, you can enter your ZIP code to locate shelters and other options for your pets. They have been working over five years now with borrowers and lenders on loss mitigation and default management, and even provide monetary assistance for deposits if you relocate and have to pay extra to keep Fido or Fluffy in your new digs.
As homeowners, lenders, and the government all move toward resolving the current crisis, we should not forget those victims who cannot speak or act for themselves.
Michael Sinton, CRB, CRS e-Pro
Broker/Salesperson
For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.
MICHAEL J. SINTON HAS BEEN AWARDED THE CERTIFIED RESIDENTIAL SPECIALIST DESIGNATION BY THE COUNCIL OF RESIDENTIAL SPECIALISTS.
Jackson Township, March 27, 2009 - Michael J. Sinton, a Jackson Township Realtor has been awarded the prestigious Certified Residential Specialist (CRS) Designation by the Council of Residential Specialists, the largest not-for-profit affiliate of the National Association of Realtors.
Realtors who receive the CRS Designation have completed advanced courses and have demonstrated professional expertise in the field of residential real estate. Fewer than 38,000 Realtors nationwide have earned the credential.
Home buyers and sellers can be assured that CRS Designees subscribe to the strict Realtor code of ethics, have access to the latest technology and are specialists in helping clients maximize profits and minimize costs when buying or selling a home.
Sinton is a Broker/Salesperson with Assist-2-Sell Realty Brokerage Group in Jackson Township. He is a member of the Monmouth County Association of Realtors. Sinton is also a Certifed Real Estate Brokerage Manager (CRB), and e-PRO Certified.
For more information, contact Michael Sinton, CRB, CRS,e-PRO, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.
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