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Buying A Home? 4 Things That Could Affect Your Resale Value

November 18, 2021 By Deborah Ward

If you’re buying a home there are four things that affect the resale value of the home. If you’re selling those four things can greatly affect what that buyer uses to decide to offer or even if they offer at all. So what are they?

Location

First, it’s the old adage “location, location, location” at work. Yes, location matters… a lot. The neighborhood matters. Whether the Realtor showing the home or representing the buyer can say so, people know a “good” neighborhood or a “bad” neighborhood.

Crime stats are easily available, as are neighborhood demographics. As a buyer, you want to know that the home you are buying is in a safe place. As a seller, you want that as well since price depends on it. There isn’t a lot you can do about location, but giving your home an added level of security, if necessary, can help.

Schools

Next up, school districts. If you have a home that would be attractive to a family, good schools are very important. If you don’t, they don’t matter. It’s pretty simple. So if your home is in a great school district and your home is a good starter or move up family home, play up the schools! If the public schools aren’t so wonderful, be sure to mention proximity to parochial or private schools with great reputations.

HOA’s etc.

House in a subdivision? Homeowner’s association rules, whether strict or lax, can make or break a sale. If your neighborhood has strict rules that could be good because it keeps the integrity of the neighborhood intact. That means that everything from landscaping to home colors to what you can or can’t park in your driveway are regulated. If the buyer thinks that maintaining home values is worth following restrictive covenants, they will pay the price for it.

Pools

Lastly, pool or not? In Florida, a pool is an asset, but it can be a detracting factor for a family with small children. If you have a pool and want to keep that family as an interested buyer, be sure you have all of the pool safety features they would be looking for. Gates, alarms, automatic covers should be in place.

Having Even Small Problems Puts You In The Fixer Upper Category

November 17, 2021 By Deborah Ward

Your Realtor came, inspected, and gave you a “honey-do” list of things that needed to be accomplished in order to get your house ready to show and sell for the best price. You did most of the things, all the big stuff. Good enough, right? Wrong! Leaving even small problems can put your home in the “fixer-upper” category.

Long list!

The list was long and, you were thinking, a bit over zealous. I mean after all, they surely didn’t mean you really had to touch up the paint behind the bedroom door or in the closet. Who looks there anyway? Everyone, that’s who!

Besides, you’re thinking, they’re going to repaint anyway. Better to do a few obvious things on the list and no one will notice the rest. The problem is that they do notice. This is especially true if the homebuyers are first time buyers who have always had a landlord, or their parents, fixing things around their living spaces.

It may be as simple as a paint touch up or replacing a wall switch cover, but for someone who doesn’t know how it’s a big deal. Even for those who have previously been homeowners they may know how easy it is to fix those little things, but they may be thinking “ok, so what else is wrong here?”

TV shows don’t help!

Have you ever watched those HGTV shows like House Hunters or Fixer Upper? In House Hunters they often have just those kinds of brand new first time buyers. Have you noticed how nit picky those house hunters are? Watch an episode or two and see how quickly they turn their noses up at a home that has a few minors to-do’s left on the list. The Realtor will try and minimize it with a “that’s a simple fix” but they are having none of it.

Then there is Fixer Upper

Chip and Joanna Gaines find a few houses that are fixer uppers and then they fix it up. The problem for you, the homeowner, would be that shows like that show potential buyers all of the possible “skeletons in the closet” like bad wiring, etc., that they think could be wrong with your home because you missed those little details.

So take the time and do it all!

Did You Know Having a Realtor Help You Buy a Home is Free?

November 17, 2021 By Deborah Ward

You’ve decided to buy a home, but you are worried about the costs. One big one is the cost of the Realtor when you buy. Did you know that having a Realtor helping you buy a home is in most cases free? Here’s how.

Hire an agent to represent you

Did You Know Having a Realtor Help You Buy a Home is Free? If you hire an agent to represent you as a buyer, that agent represents you, not the seller. They are there to be in your corner. Sure, you could look on your own or take your chances relying on the seller’s agent. If you do that there is no one to answer your questions or represent you in the purchase.

Do you know all the ins and outs of a real estate transaction? Do you know what to do if things go sideways? Having an agent on your side is important. Not having to pay them for their time and advice is priceless.

In general, Realtors don’t get paid at all until a property closes

The Realtor gets their paycheck at the settlement table, whether seller’s agent or buyer’s agent. That said at the closing table the seller is responsible for paying those fees. If you have a separate buyer’s agent the fees are split, unless there is an agreement saying otherwise. Remember in a home sale, everything is negotiable. Generally, though, the seller pays.

So what does that mean for you? It means you get the services of a professional, the advice, the legwork and everything else, for no cost to you.

If you are thinking about buying a home give The Deb Ward Team a call today! 727-410-0336 (we love helping homebuyers!)

Great Reasons Buying A Home Is Better Than Renting

November 17, 2021 By Deborah Ward

The common wisdom is that buying a home is better than renting. Common wisdom exists for a reason, buying is better than renting and here’s why.

The first reason is cost

If you rent a home it costs you more in 5 years than buying one does. Here’s how. If you rent a home for $1,500.00 per month for 5 years will cost you $90,000.00. Buying a home with a mortgage payment (principal and interest only) of $1,500.00 is $90,000.00… BUT a homeowner gets a tax deduction for the interest paid on their mortgage. Let’s say that deduction is a total of $3,000.00 or $250.00 a month. Over 5 years that’s $15,000.00. Deduct that from your 5 year amount paid out and you actually only paid $75,000.00! That doesn’t even take into account a First Time Home Buyer tax credit that you may qualify for if you’re a first time owner.

Finite vs infinite

Those monthly payments are finite with a purchased home, but infinite when you rent. Your mortgage has a beginning payment and end payment and once you pay that last payment, you get to live in your home with no monthly payment to stay there (beyond your real estate taxes). When you rent, you pay a monthly payment to live in the home with no end unless you leave. If you rent a home and walk away from it when the lease is over you leave with nothing but the possessions you came with. When you sell a home, you get back the equity, or value, that you put into the home. As you pay your mortgage, you gain equity from the amount of principal paid. You also gain equity when the value of your home rises. For instance, if you purchased your home for $150,000.00 and sell it ten years later for $250,000.00, you gained $100,000.00 in equity.

Repairs and updates

That rise in equity can come from changes in the market, but also in the value of repairs and updates you make to the home. Those repairs and updates can be made when you want and no one else gets a say. If you rent and want to update even the paint in a room, you need the permission of the landlord and if they say no, you’re stuck.

So yes, it pays to buy!

If you are thinking of buying a home in the Tampa Bay area, give The Deb Ward Team a call! 727-410-0336

Proper Pool Safety Tips When You Are Selling Your Home

November 17, 2021 By Deborah Ward

You’re selling your home, and you have a pool. That means people will be in and around your home when you aren’t there. A pool is an inherent liability when you’re there, so you’ll need to make sure you have things in place to keep everyone safe. It may just mean you sell faster too, since a buyer won’t have to make a pool safe.

First thing you’ll need to make sure you have installed is a physical barrier. This barrier should be one that prevents a child from getting over, under or through it to gain access to the pool. These are typically a fence or wall with a security gate. The fence or other barrier should be at least four feet high or taller. It should have no footholds or handholds that could help a young child to climb it.

A few guidelines: spaces between shouldn’t be any more than 4 inches apart or 4 inches from the ground. Gates should be self closing and self latching and the latch should be high enough that small children can’t reach it. The type of gate and fencing may depend on your homeowners association, so check with them first.

Next, think about an alarm for the pool area. The alarm will emit an audible sound when triggered. They can include a gate alarm with a magnetic switches that activate when the gate is opened; a door or window alarm if one wall of the fencing is a house wall; or a floating alarm that goes off if the water in the pool is displaced. Any alarm should sound for 30 seconds or more, and within 7 seconds after it is activated and sound different than things like your doorbell or smoke alarm.

Another item to consider is a safety cover. A safety cover is either manual or motorized and covers the pool. It keeps people out of the water and most have a lock to keep kids from opening or closing it. It should be strong enough to support the weight of two adults and one child. It should also be easily opened in an emergency.

These steps will keep your pool under lockdown when you aren’t there, and make it a safe prospect for a buyer who might be worried.

What Does A Great Realtor Look Like

November 17, 2021 By Deborah Ward

You want to sell your home. You want to hire a great Realtor. Kind of a no brainer. How would you recognize a great Realtor? What does a great Realtor look like?

Something like this…

A great Realtor is personable, easy to talk to and a good listener. They make you feel comfortable. How can you convey anything to someone you can’t even feel comfortable with or talk to.

They communicate in a way that works for you, whether that is on the phone, via text message, email or social media and they return your messages promptly.

They also have great relationships with other Realtors. This will get your home more traffic and get it sold more quickly.

Licensed

A great Realtor is always licensed, and that license is in good standing. Do your homework and make sure they are licensed and that there are no serious complaints against them.

One good way to find out is to use Google or Bing and search their name in quotation marks. But also check with the Better Business Bureau and state/county courts.

In Florida you can search their license status via the DBPR (Department of Business and Professional Regulation).

A great Realtor is knowledgeable

If they don’t know the process like the back of their hand, find one who does. If they aren’t specialized in the type of property you are looking for, find one who is. If they aren’t up to date with the market where you are looking, find someone who is.

A great Realtor is always truthful

You should expect them to tell you what is true, not what you want to hear. That means if your home needs work before listing, or you think it’s worth more than it is, they will tell you.

Technology

A great Realtor keeps up with the technology of the times. Not just in how they stay in contact, but in how they market the homes they contract to sell. They use social media with savvy to market your home. They don’t shrink from new technology when finding ways to get the best photos of your home, like using drone videos.