Buyers Did You Know…

Buyers, did you know that you can have some or all of your closing costs paid by the seller?  This is also known as seller concessions.  By negotiating seller concessions you can free up money in your pocket for the other expenses that go along with purchasing a home
Seller concessions should be negotiated in the initial offer.  A good buyer’s agent will contact your loan officer to find out how much seller concessions you will need to cover most or all of your closing costs. 
It is very important that you work with a buyer’s agent and a loan officer that have experience in negotiating offers including seller concessions.  Your transaction will run smoother with less stress if you surround yourself with experienced professionals.

For more information on how to know if your agent specializes in First Time Home Buyers see “Are You a First Time Home Buyer?”
For more information on the responsibilities of a buyer’s agent see “A Buyer’s Agent’s Responsibility to Help a Buyer Make a Good Offer”
For more information for first time home buyers in Gloucester County see: “First Time Home Buyer in Gloucester County”

Andrea Kappre is a Realtor in New Jersey, specializing in helping first time home buyers accomplish their dreams of home ownership. For your own customized MLS search of homes for sale in Gloucester, Salem or Camden County or other South Jersey areas call or e-mail Andrea Kappre now. You can visit Andrea on the web at https://realtorinnj.wordpress.com/. You can also follow her on Twitter at https://twitter.com/#!/REALTORinNJ

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FIRST TIME BUYERS NEED TO TAKE NOTE:

What many Realtors and lenders (and therefore buyers) don’t understand is that there are still many first time home buyer incentive right now. Indeed in New Jersey we are looking at a handful of assistance options including a $10,000 grant-assistance program, a 4% (of loan amount), and a zero-down (100%) financing option. And that is just in Gloucester County!

Why do I say that Realtors and Lenders and lenders don’t know about these options??

I talk to buyers that know little to nothing about such options. Buyers come to me because their agent could not answer their questions about such program options. The sad event is when the home buyer doesn’t research on their own and instead settles for whatever ignorant advice they get.

BUYERS do not need to miss out!! Ask as many questions as possible! Work with a local agent and lender that know their FIRST TIME HOME BUYER STUFF!!!! Do not settle for a mediocre substitute!
For more information on how to know if your agent specializes in First Time Home Buyers see “Are You a First Time Home Buyer?”
For more information on the responsibilities of a buyer’s agent see “A Buyer’s Agent’s Responsibility to Help a Buyer Make a Good Offer”
For more information for first time home buyers in Gloucester County see: “First Time Home Buyer in Gloucester County”

Are You a First Time Home Buyer?

If you are a first time home buyer in New Jersey the first question you should ask yourself is “Does my agent specialize in first time home buyers?”  If you simply ask your agent I am sure they will tell you yes.  Most real estate agents suggest that they specialize in everything.  The truth is there are very few agents who actually specialize in working with first time home buyers. 
Here are a few questions to ask yourself to determine if you are currently working with a real estate agent who truly specializes in First Time Home Buyers:
1.  Has your agent educated you in the home buying process?  If you are working with an agent who has only taken you to property after property in hopes that you will find your dream home but has neglected to talk you about the many aspects of the home buying process then your agent does NOT specialize in first time home buyers. 
2. Has your agent insisted that you were disservice-approved prior to looking at homes?  If the agent you contacted was swift to show you homes but slow to have you pre-approved they are doing you a great disservice which could most certainly lead to heartache down the road. 
The most important question to ask yourself is:
3. Has your agent spoken to you about the many First Time Home Buyer Assistance Programs in the state of New Jersey?  If your agent has not explored these options with you, then it is likely that they do not even know that they exist.  There are many programs in the State of New Jersey to assist first time home buyers including the New Jersey Smart Start assistance program and the Gloucester County First Time Home Buyer Assistance Program. 
Buying your first home is an exciting time.  Be sure to hire a buyer’s agent who specializes in working with first time home buyers.  If you do not, it could cost you a great deal down the road.

 

Andrea Kappre is a Realtor in New Jersey, specializing in helping first time home buyers accomplish their dreams of home ownership. For your own customized MLS search of homes for sale in Gloucester, Salem or Camden County or other South Jersey areas call or e-mail Andrea Kappre now. You can visit Andrea on the web at https://realtorinnj.wordpress.com/.  You can also follow her on Twitter at https://twitter.com/#!/REALTORinNJ

How to Sell Your House

How to Sell Your House

 

Whenever you hear people discussing real estate you can bet your last dollar that you will hear the phrase “location, location location” mentioned. I am a firm believer that the location of a home can hinder or help in a sale, but I know the most important aspect when selling your home is PRICE. If you really want to know how to sell your home, the answer is short and simple: Set the correct price from the start.

How do you calculate the “right price”?

Below are a few tips to follow:

 

 

  • Don’t just get a market analysis, trust the results – The market analysis determines the value of a home based on the amount comparable homes have sold within the last year. Real estate appraisers will look at these recent sales when they determine the value of the property for mortgage purposes. One of the most important facts about real estate transactions and mortgages to understand is that the mortgage company will not lend above the value determined by the real estate appraiser. Therefore, pricing a home above the value determined in a market analysis done by a real estate professional will not help you make a greater profit.

 

  • Time factor: If you need to sell fast, price it as low as you are comfortable with. Typically the lower the price the faster the sale. If a home is priced too high from the beginning, a seller almost invariably ends up with a lower sales price then if the home had been priced correctly from the beginning. The trick in any market is the price. Homes priced correctly sell.

 

  • You hired a professional… listen to their advice. You are paying for professional advice, don’t ignore it. ASSUMING your agent is experienced and professional, they will give you great advice based on market research and experience in sales and real estate. You wouldn’t do research to find a great doctor, then after a diagnosis go with your own ideas would you?

 

  • Choose Wisely! Do not hire the real estate agent who gives you the highest value as a listing price. There are some agents who will start out with an unattainable listing price and after a few weeks begin to tell you it is time to reduce your price. How much time is wasted when you are priced too high? Hire an agent who will base the value of a home on facts.

 

 

 

Andrea Kappre is a Realtor in New Jersey, helping buyers and sellers to successfully accomplish their real estate goals. For your own customized MLS search of homes for sale in Gloucester, Salem or Camden County or other South Jersey areas call or e-mail Andrea Kappre now. You can visit Andrea on the web at www.AndreaKappre.com or at https://realtorinnj.wordpress.com/

Are You Buying a Home in Gloucester County? | Money, What Money I am Financing 100%!

Are You Buying a Home in Gloucester County? | Money, What Money I am Financing 100%!

Gloucester County RealtorThere seems to be a misconception that 100% financing loans means buyers do not need any funds to buy their dream home. This is certainly not the case. Although, you will not need money for a down payment and potentially the seller can pay your costs, there are still other areas in which the money will come directly from the buyer. Below is a list of costs buyers should be prepared for when entering into a contract to purchase a home.

1. Good Faith Deposit. This deposit will range anywhere from $1000.00 and above depending on the price of the home you are purchasing. This money is presented to the seller’s agent at the time the buyer signs the contracts. This money is then held in an escrow account by the brokerage firm representing the seller. This money is credited back to the buyer at settlement.

2. Home Inspection. A home inspection typically runs in the ballpark of $350.00 to $650.00 depending on the size of the home. A home inspection is not required to purchase a home, but is highly recommended. A home is the largest purchase most people will make in a lifetime. Such a large purchase being made without having a professional inspect the home can turn out to be quite costly or even worse inhabitable. Information supplied by a good home inspector is priceless.

3. Termite Inspection. A termite inspection will cost between $60.00 to $100.00 depending on the company you choose. A termite certification is required by most lenders depending on the type of loan you are utilizing. A termite inspector will inspect the property to check for active/live termites and will also check to see if there is any previous damage due to termites. If termite activity is found a termite treatment may be required and any damaged wood may have to be replaced prior to settlement.

4. Septic Inspection. A septic inspection will cost between $400.00 and 600.00 depending on the company you use. Homes with well and septic systems should have these systems inspected prior to settlement. Most lenders will require a well and septic system certification. Most contracts in Southern New Jersey stipulate that the buyers are responsible to pay to have the septic system inspected. The sellers are typically responsible to have the well water tested. Be sure to read your contract and ask your agent if this is true for your situation.

5. Appraisal. A typical appraisal will cost around $375.00 for a single family home. Your mortgage company will require an appraisal to be done on the property to ensure the home value is consistant with the purchase price. You will be responsible for paying the appraiser before the appraisal will be done.

Even when opting for a zero down loan in New Jersey, you can see that you will still needs funds of yourown to purchase a home.

For more information on purchasing a home contact Andrea Kappre – 856-419-3560

Andrea Kappre is a Realtor in Gloucester County NJ, helping buyers and sellers to successfully accomplish their real estate goals.

Contact Andrea Kappre at 856-419-3560 or AndreaKappre@yahoo.com

A Buyer’s Agent’s Responsibility to Help a Buyer Make a Good Offer

 

The media has been reminding us that it has been a buyer’s market for quite some time now. This has portrayed the misconception that buyers should be submitting offers at least 20% below list price. Although this is a great time to buy, submitting such low offers can cause buyers to pay more for the house in the long run.

What can happen if you submit an extremely low offer?

1.  Sellers can simply say no without even a counter offer. Sellers must counter offer when they receive an offer right? Wrong, if your offer is too low to begin with they can simply deny your offer and end the lines of communication.

2.   The seller may be offended by the offer. Once this happens the transaction becomes more emotional and personal. Selling a home is always personal, but once negative feelings arise sellers often let their feelings dictate their decisions rather than the facts and the bottom line.

3.   The seller may counter offer, but the amount of counter offers it may take for the buyer and seller to come to an agreement may begin to frustrate all parties.

Once frustration sets in, all aspects of transaction may become stressful and difficult. It could even leave the seller with feelings of bitterness. This can in turn cause them to be less willing to accommodate you in any way through out the transaction, including but not limited to their willingness to

  • make repairs following a home inspection,
  • easily allow appraisers, inspectors, etc entry to the home,
  • the scheduling of a settlement time …

You get the idea !!

The initial offer of a home buyer should be a strong, motivated offer. Having the advice of an experienced buyer’s agent can make all the difference in the world. Equally important, is listening to that same advice. Your buyer’s agent should use the MLS to find comparable properties that have recently sold in close proximity to the home you are considering and review them with you. This will help you determine a fair price and make a strong, intelligent offer.

see also … Even In This Market My Buyers Paid Full Price for Their New Home

Andrea Kappre is a Realtor in Gloucester County NJ, helping buyers and sellers to successfully accomplish their real estate goals. For your own customized MLS search of homes for sale in Gloucester County or other South Jersey areas, call or e-mail Andrea Kappre now.

Contact Andrea Kappre at 856-419-3560 or AndreaKappre@yahoo.com

Sell My House!

That is what every seller wants to simply YELL at their real estate agent. Truth be told that is exactly what the agent is working to do. The goals of the home seller and the real estate agent should be one in the same; To sell the home for the most money in the least amount of time. Home sellers are always questioning what the agent is “doing” to sell the home. This is a valid question, as the seller is paying the agent generally 6% of the sales price. What the seller often fails to do is ask themselves the same question. It is equally important for the home seller to make sure they are doing their part to sell the home. Below is a brief list of actions each home seller should take responsability for to better their success at selling their home.

  • Get Organized: Go through and organize each room in your house including drawers, closets, and cabinets (Yes, buyers will be looking there too!)
  • Keep the home clean as a whistle. First impressions are everything when selling a home. It may be better to decline an appointment if you have had a busy week and haven’t had a chance to clean the house. When buyers walk into a home that is not cleaned it can distract them from seeing the home’s full potential.
  • You love your family, but home buyers don’t: We find pleasure in displaying photos of our memories. It brings us joy each time we look at them. However, having these items displayed when selling a home will make potential buyers feel as though the home belongs to someone else. This makes it difficult for the buyers to envision the home belonging to them.
  • It has become invisible to you. As the years fly by there are certain “unfinished” areas of your home that you don’t even notice anymore. These things can be anything from a piece of trim you never got around to replacing, the corner of a room that you never finished paiting, or nail pops that naturally occur over time. These fixes are usually simple. Spend a little time and little money. It can go a long way.
  • A million great memories does not equate to a million dollars: Homes are full of great memories. And selling a home can be a very emotional time. It is important to remember that once the home is listed for sale it essentially becomes a “product” for sale. Home buyers will be evaluating a “product”, comparing it to other “products” and discussing it with their buyer’s agent.

Just as it is the buyer’s agent’s responsibility to help their buyers make a good offer, it is the seller’s agent’s responsibility to help the sellers see the true value of their home and to negotiate a good offer. ALthough it is difficult at times, it is very important for home sellers to not make emotional descisions and become offended if a buyer makes an offer that is much lower than expected. A seller should always make a reasonable counter offer as it may lead to an acceptable offer in the long run.

If you are conisidering selling your home in New Jersey contact Andrea Kappre for a free analysis of your home. If you are considering selling your home in another state contact Andrea Kappre for a referral to an experienced real estate agent in your area.

Andrea Kappre is a Realtor in New Jersey, helping buyers and sellers to successfully accomplish their real estate goals. For your own customized MLS search of homes for sale in Gloucester, Salem or Camden County or other South Jersey areas call or e-mail Andrea Kappre now. You can visit Andrea on the web at www.AndreaKappre.com

Up to the minute information about real estate market conditions in your neighborhood is at your fingertips. Click the Market Snapshot photo below and simply input your address.

 Market Snapshot

Contact Andrea Kappre at 856-419-3560 or AndreaKappre@yahoo.com

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