When is the Right Time to Sell?

Jessica Riffle Edwards with Coldwell Banker Sea Coast Advantage answers this age old question.

When is the right time to sell your home? Is it in the spring? Is it in the summer? Coldwell Banker Sea Coast Advantage agent Jessica Riffle Edwards sheds a little light on this age old question. Watch the video below for her expert take on the subject.

As always, you can visit coldwellbanker.com to find a dynamic agent to guide you through the process and address any questions you ever have.

Source: Coldwell Banker Blue Matter Blog

Posted on August 30, 2017 at 9:10 am
Kappel Gateway Realty | Category: appraisal, bid, Bidding, Bidding War, Buyer's Market, Buyers, buying, closing costs, first time buyers, Homeowners, moving, open houses, real estate, selling | Tagged , , , , , , , , , , , , , , , ,

Is Summer or Winter the Best Season to Buy a Home?

You hear it a lot – there are best and worst times to make any sort of purchase. Whether it’s a television, a car, or a home, statistics are available that may influence your decision on when would be the best time to make a purchase.

Numerical data isn’t the only thing you should be taking into consideration, though. Each season has something different to offer in terms of making the home buying process easier or more challenging. Let’s take a look at the pros and cons of buying during the summer or winter.

What to Think About When Buying a Home During the Summer


Did you know there are more homes on the market during summer? According to the National Association of Realtors, inventory in the U.S. is actually 15% greater in the warmer months than in the colder months.

If you have a lot of items on your home wish list, you might be better off searching during summer as you’ll have more homes from which to choose. The only disadvantage (depending on the climate where you live) is that summer results in more competition, as a greater amount of people are likely to visit open houses in nicer weather.

It probably goes without saying, but moving during summer is a bit more pleasant than moving during winter. For many, sweating beats freezing while trying to pack and unpack a moving truck. You can always cool yourself down, but it’s usually harder to warm up. It also tends to be safer if you reside in or are moving to an area that gets snow or ice.

If you have school-aged children, moving during their summer vacation offers more flexibility than trying to move during the winter holidays or spring break.

Lastly, one nice thing about summer is the lack of snow. That can be a huge obstacle when trying to look at the exterior of a home. You might miss the fact that a few shingles (or the entire roof) need to be replaced when there’s a pile of snow on top of it. The same goes for cracks in the driveway, and curb appeal in general.

What to Think About When Buying a Home During the Winter

There’s less competition in the winter as most people are busy with the holidays, their new year’s resolutions, or getting back into the swing of things at work. At this time of the year, buying a home isn’t typically at the forefront of most people’s minds.

What does that mean for you? No bidding wars, and more room to negotiate if a seller is feeling a bit desperate.

They might be if the reason why they’re moving is a pressing one. Combined with having to work around their real estate agent’s holiday schedule, having less showings, and subsequently, less interested buyers, sellers might be willing to give you a better deal or include more bonuses in the offer.

Again, depending on where you live, the weather during winter can be brutal. You’ll be able to easily identify drafts from windows in a house, and you’ll notice how effective the heating system is.

While snow can work against you, it can also work for you as you’ll be able to see how well the roof and driveway handle several inches of accumulation. Are there noticeable dips in the driveway? Have ice puddles formed on the property? These fairly major repairs can give you an advantage during negotiations.

Considerations for Both Seasons
There are a few factors to be concerned with during both seasons – namely, your real estate agent’s availability, and your neighbors.

Obviously, real estate agents may take time off during the holidays in the winter, but if they have children, they may also be likely to take off during the summer as well. Before you work with an agent, ask them about their availability over the next few months. You want to ensure that their planned absence won’t negatively affect your intentions to buy.

On the other hand, an agent looking to work through the winter holidays may be more motivated to help you, given the number of prospective buyers is lower.

Additionally, when you buy a new home, you’ll want to be surrounded by good neighbors, right? Summertime is great for seeing which neighbors excel at lawn maintenance and which ones let their grass grow for weeks on end. If you’re someone that cares a lot about a home’s upkeep, this might concern you.

At the same time, you’ll be able to see if neighbors work together to get rid of snow during the winter, or if houses on the block are nicely (or obnoxiously) lit up with holiday decorations.

Which Season is Better for Buying a Home?
As you may conclude, there’s no right or wrong answer. There are benefits and impediments to searching for a home in any season. You shouldn’t let weather or the trending numerical data hold you back. When you’re ready to buy, you’ll know it.

Source: Coldwell Banker Blue Matter

Posted on August 16, 2017 at 8:40 am
Kappel Gateway Realty | Category: appraisal, backyard, bid, Bidding War, Buyers, buying, closing costs, community, curb appeal, Homeowners, mortgage, neighborhood, real estate, Spring, summer, trends, Uncategorized | Tagged , , , , , , , , , , , , , ,

Condo vs. Townhouse

Condo and townhouses are often lumped together, but have some significant differences. Agent Jessica Riffle Edwards explains the differences between the two.

I’ll admit it, I’ve owned a condo for the last three and a half years and just found out what the difference was between a townhouse and a condo. While you would think that they’re pretty much the same thing, there are some key differences that might be critical to you depending on your situation and appetite for being responsible for home repair.

Here’s star listing agent Jessica Riffle Edwards explaining what the differences are between the two.

Source: Coldwell Banker Blue Matter Blog
Posted on August 9, 2017 at 9:08 am
Kappel Gateway Realty | Category: appraisal, bid, Bidding, Buyer's Market, Buyers, buying, closing, closing costs, credit score, debt, equity, escrow, first time buyers, Foreclosures, Homeowners, hot market, Offers, real estate, selling, Uncategorized | Tagged , , , , , , , , , , , , , , , , ,

How To Win A Bidding War Without Overspending

Winning a bidding war requires tactful strategy. What’s your next move?

Right now we are in a Seller’s Market here in Solano County. Oftentimes that means multiple offers over list price. It can be a frustrating and exhausting process. Read on for strategic tips!

It’s possible to win a bidding war without paying a cent more than you budgeted for.

 How To Win A Bidding War With Multiple Offers On a House

  1.  Know what you can really afford

    As far as emotional purchases go, buying a home ranks right up there with choosing a wedding dress — only the financial stakes are much higher. Unless you know ahead of time exactly how much house you can afford, you could easily be sucked into spending too much. Your lender or financial adviser can help you determine that number. Then it’s time to play ball.

    “Submit your best and final offer early,” says Skyler Irvine, senior partner at Myriad Real Estate Group in Phoenix, AZ. “If $1,000 keeps you from pulling into the driveway of your dream home just because you wanted to play hardball, then you might regret this more than you can imagine.” But the flip side is also true. “If you get outbid because someone offered more than you were comfortable with spending, then you didn’t lose anything and made a smart financial decision.”

    Here’s a real-life strategy from a client of Naples, FL, agent Gordon Campbell on how to submit the best offer in a “best and final” situation without going too high: “They simply added a clause stating that they would pay $1,000 more than the next ‘best and final’ capped at the original price as seen in the MLS.” The outcome? “They got the property for slightly more than the other bidder.”

  2.  Talk with the listing agent

    You can put in an offer, but unless your agent makes the effort to speak with the listing agent, your offer, in a multiple offer scenario, will probably not stand out. Gary Hughes, a Virginia real estate agent, recently received 13 offers for a property he listed. “Twelve were just emailed, and the buyers’ agents did not speak to me,” he says. But one agent called and had the lender follow up. “The lender and the buyer’s agent were able to address a concern in a way that assured me it would get to settlement. It wasn’t the highest offer, but it was close. Those conversations made all the difference.”

  3.  Propose a shorter closing

    It’s always beneficial to find the seller’s motivation for selling (if you can). Let’s say they just accepted a new job in another part of the country. This seller is probably highly motivated to sell quickly. “If you can close the deal in two or three weeks, you may win over the higher offer that comes with a six-week closing period,” says Eric Bowlin, a real estate investor.

    But just how do you go about closing faster? Here’s one way: “Tighten up your inspection time frame so sellers know that they can get through to a closing date quicker,” says William Golightly, a Florida agent.
    Buyers can also be preapproved, or even better, get a conditional approval, from their lender. Going through the mortgage process first allows you to close just as fast as all-cash buyers do.

  4.  Rent the house back to the sellers

    Some sellers aren’t interested in a short closing at all. In fact, the opposite could be true. Sellers who don’t have to sell quickly but who are just making a change, such as downsizing or upsizing, might want a long closing or some sort of flexible deal to give them time to find their new home. “Being able to rent back the property to the seller for a few months while they solidify their next purchase can go a long way into not needing to overbid on the property,” says Aaron Norris, a California real estate investor with The Norris Group.

  5.  Submit an as is offer

    The fewer conditions you put on negotiating the house price, the more attractive you look to sellers. Consider offering to buy the house as-is. Miami Beach, FL, agent Jill Hertzberg says, “You can opt out of conducting inspections.” But since this is an extremely risky proposition, Hertzberg suggests instead of waiving the inspection altogether, decrease the inspection period to two days maximum. Lilia Biberman, a Boca Raton, FL, agent says to only waive the inspection “if you have a firm grasp of all the possible defects a property may possess and the costs associated with remedying those defects.” Also, if you’ll be paying in cash, you don’t need a financing contingency, which protects buyers who don’t secure financing in time.

    Source: Trulia Blog

 

Posted on July 21, 2017 at 12:28 pm
Kappel Gateway Realty | Category: bid, Bidding, Bidding War, Multiple offers, real estate, Sellers Market, Uncategorized | Tagged , , , , , , , , , ,