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Get Your Home Ready to Sell While You are “Social Distancing”

Scientists, doctors, and public health experts are urging—begging—everyone to practice “social distancing” or deliberately creating space from other human bodies. No bars, no gyms, no restaurants, no concerts, no parties. It’s an effective way of slowing the spread of Covid-19. This is the perfect opportunity to take the time to get your house ready to sell this Spring.

Research your local housing market

Get on the internet with your coffee and start doing research on the value of your home. You can find information on Realtor.com and a local Realtor can direct you to other websites that can help. Look at the comparable sales in your neighborhood. Check on the square footage, special features and locations of the comps. How do they compare to your home? Browse online listings.

Find a listing agent

If you don’t have a Realtor that you want to use, do the research online to find the best one in your area. Ask friends and neighbors, review websites, do a search on social media and see who is using it and how they are using it.

Declutter & Depersonalize

The more personal your space, the harder it is for buyers to imagine themselves living in your home. A rule of thumb is to get rid of a third of your “stuff”. What a time to go through closets and get make piles of clothes you don’t wear to give away. How about your kitchen cabinets? When was the last time you organized them? Move room to room, turn on the music and have some fun.

Do a Deep Cleaning

Steam Cleaning the Carpets –Not as easy if you don’t own your own steam cleaner. If you do, now is a great time to do it.
Remove Pet Smells – Pet owners don’t always smell pet odors because they’re so used to them, but others will. Steam cleaning the carpets will remove a lot of odors. Consider cleaning the upholstery as well.
Windows – Clean the windows inside and out.
Garbage cans – Clean them thoroughly with bleach to remove any odors.
The oven and stovetop – Ovens are a common source of unpleasant odors.
The refrigerator – Empty it. Clean it thoroughly. Throw away any old foods.
The dishwasher – Thoroughly clean and sanitize the inside of the dishwasher.
Bathroom grout – Mold stinks. Grout often gets moldy. Clean the grout.
The shower stall and curtain – Bleach and elbow grease and put your shower curtain in the washing machine.
The basement – Do a wall-to-wall cleaning, remove mold, and seal any cracks.
Air Ducts – Grab your vacuum and the hose extension and suck out the dirt and dust.

Work on the Curb Appeal

We know that the way our home looks from the outside, the curb appeal, is a big part of selling the home. Buyers driving up can be turned off just by the way the exterior of your home looks. Often times, they won’t even go into the home.

Focus on the Front Door and Porch – You never get a second chance to make a first impression. The porch should be clean and freshly painted. There shouldn’t be any loose boards, no areas of rot, and no creaky steps. The front door should be attractive, substantial, and well-framed.

Add Fresh Mulch and Flowers – Your house may be impeccably maintained, but if the rest of the property is a mess, it won’t matter. Dead flowers and pale, lifeless mulch are non-starters when it comes to curb appeal.

Always Have a Fresh-Cut Lawn – Making sure the lawn is tidy and free of bare spots is crucial. It provides the entire property a put-together aura. Not only that, but it also endows the air surrounding the home with an appealing scent.

Cut Back Trees and Shrubs – Trees and shrubs are great, but they shouldn’t have a wild appearance, especially if the rest of the house is impeccably maintained. If you can’t do it yourself, hire a professional landscaper to cut back the trees and shrubs.

The Bottom Line: Treat this situation of being homebound as a gift. Take advantage of free time and get your home in order to put on the market.

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Would You Buy A House “As-Is”?

Sometimes we fall in love with a home that is being sold “as-is” which benefits sellers and can either be a great deal for buyers or a complete nightmare. Legally, “as-is” means that the seller doesn’t want to make repairs, of which there can be many. The buyer then gets the home but with no guarantee that something is not minutes away from completely breaking down and needing to be replaced. What the buyer sees is what the buyer gets and sometimes more because there is no telling what you can’t see.

However, “as-is” does not always mean there are issues broken beyond repair. Often there are simply minor and even no issues. It means you are buying the home in whatever condition it is currently in. You can have an inspection done but won’t be able to negotiate to get the repairs done

While the home that is being sold “as is” is most likely priced lower than it’s neighbors it does not mean you would be getting the home for a bargain. If there are repairs to be made, there will be a cost. It would be good to get an inspection so that you know what repairs need to be made and what it will cost to get them done before you call the home a “bargain”.

Getting a loan for a home sold “as-is” is not an easy one. Banks use homes as collateral and any home in poor condition can be grounds for a loan being rejected. Buyers would have to come up with the money on their own.

Other than getting an inspection, which is definitely recommended so that you know what you are getting yourself into, an experienced Realtor should be hired. A good agent will help to appraise the home based on comps and then based on the “after repair” value. Negotiating will be much easier with the seller when you have the help of a Realtor.

The Bottom Line: There are plenty of homes on the market listed “as-is” that discourage many buyers. Of course, you should be cautious, but “as-is” does not always mean that the house is a money pit. Sometimes the seller can’t vouch for any repair work that has been done – thus an inspection can help and a decision can be made accordingly. Or, the home could have been inherited and the seller is not aware of issues and does not want the responsibility of fixing any problems. Whatever the reason, it’s in the buyer’s best interest to get all the information about the house before an offer is made.

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The Importance of a Realtor When Buying a Home

Be sure to vet and find the best Real estate Agent before you set out to look for your next home. They will play a huge role in one of the most important financial decisions of our lives. When it comes to buying, selling, leasing, or renting, they will lead us through a sometimes bumpy and overwhelming process.

Websites can help you find the area you want to live in, even some of the houses that you want to see. But, an experienced Realtor can offer a level of expertise in the market that you won’t be able to get without her.

1. Advice. Expect your Realtor to provide advice relating to homes even before you tour them. A good agent will have already learned from you about what you want & need, what your preferences are and what your budget is. She will be able to help you narrow your search and identify your priorities.

2. Educate. Your Realtor will be able to provide data on the local home market and comparable sales. The home-buying process can be complicated. A good agent will explain the steps involved and make sure that you understand them and provide counsel to you.

3. Network. An agent who is familiar with the neighborhoods that you are interested in and will often know about pocket listings. Experienced agents tend to know other agents in the area and have good working relationships with them; this can lead to smooth transactions. Your agent may also be able to refer you to trusted professionals including lenders, home inspectors and contractors.

4. Advocate. When you work with a buyer’s agent, their fiduciary responsibility is to you. That means you have an expert who is looking out for your best financial interests, an expert who’s contractually bound to do everything in their power to protect you.

5. Negotiate. Your agent will handle the details of the negotiation process, including the preparation of all necessary offer and counteroffer forms. Once your inspection is done, the agent can also help you negotiate for repairs. Let the agent do the “dirty work” and ask for things to be fixed. They know how to negotiate from experience and what will and will not work.

6. Paperwork. A real estate transaction can be exhaustive, not to mention all the federal, state and local documents required. If you forget to initial a clause or check a box, all those documents will need to be resubmitted. A good real estate agent understands the associated deadlines and details and can help you navigate these complex documents.

7. Knowledge. Plenty of issues can kill a deal right before the closing; perhaps the title of the house isn’t clear, the lender hasn’t met the financing deadline or the seller has failed to disclose a plumbing problem. An experienced real estate agent knows to watch for trouble before it’s too late, and can skillfully deal with challenges as they arise.

The Bottom Line: You can buy a home without a Realtor. People do it all the time. But, going at it alone can be a risky bet. There can be a lot of legal loopholes that can be overwhelming and confusing for someone not experienced in the real estate business. Buying a home is a long and often very emotional process. The Realtor will handle all the stress for you that goes with finding financing, negotiation, and closing.

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Serious Problems in Overpricing Your Home

Putting your home on the market and want to get the most you can out of the sale? Of course, you do. We all do. However, there are issues associated with listing your home too high. After you review the comps from your neighborhood, you come to your own conclusion that your home is worth more. You can even find Realtors who will agree with you but know that the very best Realtors will tell you that overpricing a home can lead to serious problems.

Problem #1: Listings get the most showings in the first 30 days of being on the market. If a home is priced too high, buyers may choose to ignore it or put it in a “wait and see category.” The longer the home sits unsold, though, the more negatively it is viewed. Buyers will think it must be overpriced or there is something wrong with the home. If you wait too long to do drop the price, most of those “wait and see” buyers will have already moved on and there will be a smaller pool of buyers interested in your listing as the days on the market increase.

If the home is on the market too long, potential buyers will think they are in a better negotiating position and you may end receiving a low ball offer, which can be frustrating. Even if you can negotiate up, it will be for far less than your original asking price. If you want to attract as many potential buyers as possible, it’s important that the home is priced correctly from the onset of it going on the market.

Problem #2: An overpriced home helps your competitors. When a buyer looks at your home and then visits another that is priced the same but comes with more features, your competitor’s home will look like a much better deal.

Problem #3: If your home sits on the market for too long, neighbors and potential buyers will assume that there is a problem with it. The home will be stigmatized, and buyers will either be too turned off or too afraid to check it out.

No one wants to buy a house that nobody else seems to want. A house that sticks on the market for months often generate suspicions that some undisclosed feature or element is making it unsalable.

Problem #4: A buyer is interested in your house and willing to pay the price you are asking. But they need to get money from the bank to pay for it. All banks demand an appraisal of any property they loan out money for, and yours will not be the exception. The market runs the appraiser and they will appraise your property in accordance with it. When the appraiser comes back with a noticeably lower market value than the price the buyer is offering the bank will likely refuse to give the buyer a mortgage. This can lead you from a safe selling to an unsuccessful mortgage application leaving you with no option than seeking more buyers.

The Bottom Line: Find an experienced Real Estate Agent and listen to their advice for pricing your home, stay realistic in your pricing and accomplish your ultimate goal of selling your home. Know that 75% of real estate marketing is the price you set for your home. All of the marketing and advertising in the world will not sell an overpriced home.

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Securing Your Smartphone

As technology advances, so does the use of smartphones. How cool is it to be able to do just about anything online, while on the go? These devices are becoming more commonplace, and the number of mobile phone users around the globe is expected to exceed the 5 billion mark in 2019. Most people don’t leave home or work without having their phone in tow.

Whether it’s calling your coworker, checking your bank account or sending a quick email, smartphones have become the one-stop-shop for conducting business. Now, more than ever, smartphones are being targeted by cybercriminals due to their part in multifactor authentication to access computers, mobile banking and shopping accounts. These accounts often hold sensitive data, credit card information (PCI) and personally identifiable information (PII). As we move into a digital era for the home closing process, smartphones have become another place to review sensitive documents ahead of signing. With such important information being viewed and sometimes stored on your phone, it has become even more vital that you keep your phone secure.

It may be surprising, but the largest risk to your phone security isn’t hackers, it’s you. Forgetting your phone at the table when you leave a restaurant, losing it at the airport or having it plucked from your purse are far more likely scenarios than getting hacked. However, hacking devices is on the rise too, and your phone security strategy should take that into account. Activating the lock screen feature on all your devices is a good place to start. The screen automatically locks when the device is not in use, and it requires a passcode, fingerprint or facial recognition to unlock it. This step helps to ensure that no one can access your device if it is lost or stolen.

Here are some other great tips to help secure your mobile device:

Ensure your phone is always running the latest version of its operating system and apps by enabling automatic updates. These updates often are meant to fix security weaknesses in the software to reduce its chance of being hacked.
When downloading apps to your phone, only use trusted sources such as the Apple App Store, Google Play or the Amazon Appstore. Don’t trust every app on these stores, either. Many apps ask for overly broad permissions, are brand new and not fully tested, or are no longer updated, which could expose you to security vulnerabilities. Be sure to check reviews and for active updating before downloading an app.
Download a credible antivirus app recommended by a trusted source. Your device should be treated just like a computer and protected that way as well.
Many phones today come with software you can enable to remotely track your device if it’s lost or stolen. Even if your phone doesn’t come with this feature, or you would like expanded security options, there are many anti-theft apps available. These apps range from simply pinging your phone’s location to being able to remotely lock and wipe all content from it.
Regularly backing up your data is a great strategy to retain your information. Many phones allow you to set up an automatic backup to store photos, messages, apps and more. Knowing this information is backed up will make it easier to choose to remotely wipe your phone, if needed.

Overall, mobile devices add productivity and flexibility by providing access to resources at any time, from anywhere. Smartphones are becoming our constant companions, so we need to stay vigilant when it comes to mobile security.

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Increase the Value of Your Home, Inexpensively

Considering selling your home by next Spring? You will want to get the best price, of course, so start now by getting your home in tip-top shape. You don’t need to spend a lot of money and can do much on your own. Here are a few ideas and if you need guidance, calling the most experienced Realtor to visit and give you advice is always a good idea.

Deep Clean: Start with decluttering every room and closet. Donate, sell or throw away things you don’t use anymore. Vacuum, mop, & dust every surface, every vent, every blind and scrub the bathrooms. Get down on the floor and get your baseboards and lower cabinet doors wiped down. Wash the walls and make all your windows sparkle. Steam-clean all the carpets. These are all perfect cold, Winter day chores to tackle.

Paint: While you may love your brightly painted rooms, they make it harder to sell as the potential buyer usually can’t see beyond your taste. Use neutral colors and watch as minor flaws are hidden and the rooms are brightened. Simply paint the trim and see a new room appear! Just updating paint jobs, especially in the master bedroom the entry foyer, living room, and kitchen can increase the value of your home.

The Face of the Home: Rent a power washer if you don’t have one and transform the exterior of your home from “lived in” to “like new”. Use it on the siding, brick or wood, sidewalks, driveways, decks, porches, garage doors, any porch furniture that is left out and windows.

Landscaping: Depending on the time of year – if it’s right now, Fall, get the leaves up and off the ground. Rake out gardens and pick up sticks. Cut down any low hanging branches or twigs. Removed dead shrubs and make sure the property is well-edged.

Spruce Up Your Kitchen: No need to gut and rebuild. Add value by replacing cabinet hardware, the faucet in the sink, even appliances if they are dented or overused. Repaint walls and even cabinets.

The Bottom Line: There are so many ways to upgrade your home before you sell it and literally up the value by thousands. A simple change of light switch and outlet covers make a world of difference. So, if you are waiting until Spring to list your home, spend the dark Winter months knocking off a to-do list!

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CLOSING TIME: 6 STEPS EVERY HOMEOWNER SHOULD EXPECT

Get owner’s title insurance and buy your home with confidence
Your long home-buying journey is almost over. You found the home you love, the seller agreed to your offer and now it’s time for closing. Of course, there’s a lot to think about right now, and the last thing you want is something to go wrong. So make sure you work with an experienced closing agent to help ensure the details come together and everything runs smoothly.

As soon as the seller accepts your offer, the behind-the-scenes work begins. You can expect closing to happen within 30 to 90 days.

Select a Closing Agent: If you are working with a real estate agent, with your permission, he or she may place an order with a closing agent as soon as your sales contract is accepted. The closing agent can be a title company, an escrow company or a settlement company. Most homebuyers rely on their real estate agents to select a closing agent – someone they work with regularly and know to be professional, reliable and efficient. However, you can choose your own closing agent if you wish. The closing agent will oversee the closing process and make sure everything happens in the right order and on time, without unnecessary delays or glitches.
Draw up an Escrow Agreement: First, a contract or escrow agreement is drafted, which the closing agent reviews for completeness and accuracy. The agent will also put your deposit into an escrow account, where the funds will remain until closing.
Title Search is Conducted: Once the title order is placed, the title company conducts a search of the public records. This should identify any issues with the title such as liens against the property, utility easements, and so on. If a problem is discovered, most often the title professional will take care of it without you even knowing about it. After the title search is complete, the title company can provide a title insurance policy.
Shop for Title Insurance: There are two kinds of title insurance coverage: a Lender’s policy, which covers the lender for the amount of the mortgage loan; and an Owner’s policy, which covers the homebuyer for the amount of the purchase price. If you are obtaining a loan, the bank or lender will typically require that you purchase a Lender’s policy. However, it only protects the lender. It is always recommended that you obtain an Owner’s policy to protect your investment. The party that pays for the Owner’s policy varies from state to state, so ask your settlement agent for guidance. before closing.
Obtain a Closing Disclosure: Your lender must provide a Closing Disclosure to you at least three days prior to closing. Your lender may also have a closing agent provide the Closing Disclosure to you three days before you close your transaction. If your lender makes certain significant changes between the time the Closing Disclosure form is given to you and the closing, you must be provided a new form and an additional three-business-day waiting period after the receipt of the new form. This applies if the creditor: 1: Makes changes to the APR above 1/8 of a percent for most loans (and 1/4 of a percent for loans with irregular payments or periods) 2. Changes the loan product 3. Adds a prepayment penalty to the loan. If the changes are less significant, they can be disclosed on a revised Closing Disclosure form provided to you at or before closing, without delaying the closing.
The Finish Line: Prepare for Closing: As closing day approaches, the closing agent orders any updated information that may be required. Once the closing agent confirms with the lender and the seller, he or she will set a final date, time and location of the closing. On closing day, all of the behind-the-scenes work is complete. While you’ve been busy packing, ordering utilities and coordinating the movers, your closing agent has been managing the closing process so that you can rest assured, knowing all the paperwork is in order.

More Homebuyer Tips & Information
The American Land Title Association helps educate homebuyers like you about title insurance so you can protect your property rights. Check out Title First Agency to learn more about title insurance and the home closing process.

This advertising offers a brief description of insurance coverages, products and services and is meant for informational purposes only. Actual coverages may vary by state, company or locality. You may not be eligible for all of the insurance products, coverages or services described in this advertising. For exact terms, conditions, exclusions, and limitations, please contact a title insurance company authorized to do business in your location.

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HOW TITLE INSURANCE PROTECTS ALL HOMEBUYERS

Whether you’re purchasing a new or existing home or refinancing, title insurance protects you against any problems affecting the title to your home.

The Basics
There are two types of title insurance: the owner’s policy and the lender’s policy. The owner’s policy protects your property rights as the homebuyer, whereas the lender’s policy insures the financial investment of the bank or lender. If someone else claims ownership of your property, title insurance typically defends you legally and financially.

Common Risks: Here are some examples of problems with title:

Liens against the property that serve as security for the payment of an obligation (e.g. mortgage liens, judgment liens for unpaid court judgments, federal tax liens, state and local liens for failure to pay real estate taxes or assessments, mechanic’s liens to secure payment for property improvements, liens for recovery of child support payments or, as in New York City, for unpaid parking tickets).
Easements that have been created by contract or arisen through use or adverse prescription (e.g. rights of way for utilities, rights acquired by neighbors because of a fence encroachment).
Building or use restrictions contained in recorded plats, agreements or deeds.
Claims arising out of bankruptcy.

These are just some of the many reasons why getting owner’s title insurance is crucial when buying or refinancing a home. It gives you peace of mind that your property rights are protected.

Refinancing?
When you refinance, you are obtaining a new loan, even if you stay with your original lender. Lenders will usually require a new title search and lender’s policy to protect their investment in the property. Fortunately, homeowners don’t need to purchase a new owner’s policy—the one you bought at closing is good for as long as you or your family own the property. However, you may want to contact an ALTA member to update your policy to reflect changes in your life.

Enduring Value
Owner’s title insurance is a low, one-time fee based on the value of your home. For example, the typical owner’s title insurance policy costs an average of 0.5% of a home’s purchase price. With a home being one of the largest investments you’ll ever make, it’s clear why getting owner’s title insurance is such a smart way to give yourself peace of mind.

*This advertising offers a brief description of insurance coverages, products and services and is meant for informational purposes only. Actual coverages may vary by state, company or locality. You may not be eligible for all of the insurance products, coverages or services described in this advertising. For exact terms, conditions, exclusions, and limitations, please contact a title insurance company authorized to do business in your location.

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Title Insurance for Your New Home

One of the steps in buying a home is to have the title of the property searched and completed by closing. This is done to protect you, the buyer, and ensure that the title is clear. Once the home is under contract, buying title insurance is one of the first things you will do.

Owner’s Title Insurance provides protection to the homeowner if down the road someone were to say they have a claim against the home from before the owner bought it. This policy will provide coverage equal to the amount you are paying for the home. The title company will provide legal assistance and pay any valid claims. The policy will be good as long as you are in the home.

Lender’s Title Insurance is required by your lender to protect their lien against anything missed during the title search or any legal claims against the owner’s property. They will usually require insurance in the amount that fully covers their loan size.

The title company will look for claims to the home’s title that could ever affect your purchase. This includes public records that span many years. There are many issues that could come up, but the most common are:
- Seller failed to pay state or local taxes
- Contractor was not paid for work completed
- Omissions or mistakes in deeds
- Forgery
- Undisclosed heirs or conflicting wills

The Bottom Line: Buying a home is a complex transaction. Nobody wants the past to come back and be a nightmare to the buyer of a home. Title First Agency experts oversee and perform thousands of closings each year and ensure that all of the details of the title transfer and closing are in proper order. We work with Realtors from the signing of the contract until it’s clear to close, ensuring everything is running smoothly and can close on time.

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Buying A Home in the Best School District

When it comes to resale value, even for buyers without children, it’s best to invest in a home in a top school district. These homes often sell faster than homes in lesser school districts. In a case of bad economic times, a home in the lower quality school district declines in home value, while the homes in the top school districts will hold their value.

Do the research. Any information you need for absolutely anything is available online. Do a search to determine the school district or even the specific school, that is the best in the town you will be searching for a new home. There are websites that offer test scores, rankings and demographic information, including student diversity by race and gender, the percentage of students on free lunch programs and the student-teacher ratio, to learn about the schools and school districts you are considering.

A survey on Realtor.com asked random people about their overall buying strategy and how they viewed school performance. The results found that a surprising number of people are willing to give up things to get within the boundaries of a good school district. That, for every five buyers, one buyer would be prepared to give up a garage or bedroom for a good school.

They also found that for every three buyers surveyed, one buyer would even settle for a smaller home to get access to a good school. And over half of those surveyed said they would sacrifice nearby shopping options for a better school.

Beyond sacrificing things in their home purchase, buyers were willing to pay more money for a home in a good school district. One out of five of those surveyed said they would pay between six and ten percent more for a home – and one out of ten people surveyed stated that they’d go even higher, paying up to 20 percent more for a home with access to the right schools.

The Bottom Line: Consult with the best Realtor in the area in which you are looking. The next best resource for neighborhood and nearby school knowledge is your local real estate agent. Even if you don’t have kids, between the Realtor and the research you do, buying a home in good school district affects the value of the home.

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