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Jennifer Bunker
CRS, GRI
Owner/Broker
Coldwater Creek
Properties
Utah's Wasatch
Front
Northern Utah 84405
Office:
801.475-6025
Cell:
801-791-0365
Fax:
801-475.6027
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Tips For Finding the Perfect Neighborhood |
The neighborhood you
chose can have a big impact on your lifestyle—safety,
available amenities, and convenience all play their part.
Make a list of the activities—movies, health club,
church—you engage in regularly and stores you visit
frequently. See how far you would have to travel from each
neighborhood you're considering to engage in your most
common activities.
Check
out the school district. The Department of Education in
your town can probably provide information on test scores,
class size, percentage of students who attend college, and
special enrichment programs. If you have school-age
children, also considering paying a visit to schools in
the neighborhoods you're considering. Even if you don't
have children, a house in a good school district will be
easier to sell in the future. Another source is
SchoolMatch.
Find out if the neighborhood is safe. Ask the police
department for neighborhood crime statistics. Consider not
only the number of crimes but also the type—burglaries,
armed robberies—and the trend of increasing or decreasing
crime. Also, is crime centered in only one part of the
neighborhood, such as near a retail area? Another source
is
www.homestore.com.
Determine if the neighborhood is economically stable.
Check with your local city economic development office to
see if income and property values in the neighborhood are
stable or rising. What is the percentage of homes to
apartments? Apartments don't necessarily diminish value,
but do mean a more transient population. Do you see vacant
businesses or homes that have been for sale for months?
See if you'll make money. Ask a local REALTOR® or call the
local REALTOR® Association to get information about price
appreciation trends in the neighborhood. Although past
performance is no guarantee of future results, this
information may give you a sense of how good an investment
your home will be. A REALTOR® or the government planning
agency may also be able to tell you about planned
developments or other changes in the neighborhood—like a
new school or highway—that might affect value.
See for yourself. Once you've narrowed your focus to two
or three neighborhoods, go there and walk around. Are
homes tidy and well maintained? Are streets quiet? Pick a
warm day if you can and chat with people working or
playing outside. |
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Tips on Buying in a
Tight Market |
Increase your chances
of getting your dream house instead of losing it to
another buyer, with these easy steps.
Get prequalified for a mortgage. In this way, you'll be
able to make a firm commitment to buy and make your offer
more desirable to the seller.
Stay in close touch with your
real estate sales associate to find out first about new
listings that come on the market. And be ready to go see a
house as soon as it goes on the market.
Scout out new listings yourself. Look at Internet sites,
newspaper ads, and drive by the neighborhood frequently.
Maybe you'll see a brand-new "for sale" sign before anyone
else.
Be ready to make a decision. Spend lots of time in advance
deciding what you must have so you won't be unsure when
you have the chance to make an offer.
Bid competitively. You may not want to start out offering
the absolutely highest price you can afford, but don't try
to go to low and get a deal. In a tight market, you'll
lose out.
Keep contingencies to a minimum. Restrictions such as
needing to sell your home before you move or wanting to
delay the closing until a certain date can make your offer
unappealing. In a tight market, you'll probably be able to
sell you house rapidly. Or talk to your lender about
getting a bridge loan to cover both mortgages for a short
period.
Don't get caught in a buying frenzy. Just because there's
competition doesn't mean you should just buy anything. And
even though you want to make your offer attractive, don't
neglect inspections that help ensure that your house is
sound. |
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Pros and Cons of Condos |
Condominiums and
townhouse offer an affordable option to single-family
homes in most areas. But consider these facts before you
buy.
Storage. Some condos have storage lockers, but usually
there are no attics or basements to hold extra belongs.
Outdoor space. Yards and outdoor
areas are usually smaller in condos, so if you like to
garden or entertain outdoors, this may not be a good fit.
However, if you hate yard work, this may be perfect option
for you.
Amenities. Many condo properties have swimming pools,
fitness centers, and other facilities that would be very
expensive in a single-family home.
Maintenance. Many condos have onsite maintenance personnel
to care for common areas, do repairs in your unit, and let
in workers when you're not home.
Security. Many condos have keyed entries and or even
doormen. Plus, you'll be closer to other people in case of
an emergency.
Reserve funds and association fees. Although fees
generally help pay for amenities and provide savings for
future repairs, you will have to pay the fees agreed to by
the condo board, whether or not you're interested in the
amenity.
Resale. The ease of selling your unit is more dependent on
what else is for sale in your building, since units are
usually fairly similar. Single-family homes are usually
more individual, so even if there are others for sale in
your area, they probably won't be exactly like yours.
Freedom. Although you have a vote, the rules of the condo
association can affect your ability to use your property.
For example, some condos prohibit home-based businesses.
Others prohibit pets. Read the covenants, restrictions,
and bylaws of the condo carefully before you make an
offer.
Proximity. You're much closer to your neighbors in a condo
or town home. Look at profile of other owners be sure
you'll be comfortable. If possible, try to meet your
closest prospective neighbors. |
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5 Reasons Why You
Need a REALTOR |
1. A real estate
transaction is complicated. In most cases, buying or
selling a home requires disclosure forms, inspection
reports, mortgage documents, insurance policies, deeds,
and multi-page government-mandated settlement statements.
A knowledgeable guide through this complexity can help you
avoid delays or costly mistakes.
2. Selling or buying a home is time consuming. Even in a
strong market, homes in our area stay on the market for an
average of ____ days. And it usually takes another 60 days
or so for the transaction to close after an offer is
accepted.
3. Real estate has its own
language. If you don't know a CMA from a PUD, you can
understand why it's important to work with someone who
speaks that language.
4. REALTORS® have done it before. Most people buy and sell
only a few homes in a lifetime, usually with quite a few
years in between each purchase. And even if you've done it
before, laws and regulations change. That's why having an
expert on your side is critical.
5. REALTORS® provide objectivity. Since a home often
symbolizes family, rest, and security, not just four walls
and roof, home selling or buying is often a very emotional
undertaking. And for most people, a home is the biggest
purchase they'll every make. Having a concerned, but
objective, third party helps you keep focused on both the
business and emotional issues most important to you.
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Questions to Ask When Choosing a Real Estate Practitioner |
1. How long have you
been in residential real estate sales? Is it your
full-time job? While experience is no guarantee of skill,
real estate, like many other professions, is mostly
learned on the job.
2. Are you a REALTOR®? Members of the National Association
of REALTORS®, a trade organization of more than 800,000
members nationwide, subscribe to a stringent code of
ethics that helps guarantee the highest level of service
and integrity.
3. What designations do you
hold? Designations such as GRI and CRS, which require that
agents take additional, specialized real estate training,
are held by only about one-quarter of real estate
practitioners.
4. How many homes did you and your company sell last year?
5. How many days did it take you to sell the average home?
How did that compare to the overall market?
6. How close to the initial asking prices of the homes you
sold were the final sale prices?
7. What types of specific marketing systems and approaches
will you use to sell my home? Look for someone who has
aggressive, innovative approaches, not just someone who's
going to put a sign in the yard and hope for the best.
8. Will you represent me exclusively, or will you
represent both the buyer and the seller in the
transaction? While it's usually legal to represent both
parties in a transaction, it's important to understand
where the agent's obligations lie. A good agent will
explain the agency relationship to you and describe the
rights of each party. It's also possible to insist that
the agent represent you exclusively.
9. Can you recommend service providers who can assist me
in obtaining a mortgage, making repairs on my home, and
other things I need done? Keep in mind here that agents
should generally recommend more than one provider and
should tell you if they receive any compensation from any
provider.
10. What type of support and supervision does your
brokerage office provide to you? Having resources such as
in-house support staff, access to a real estate attorney,
or assistance with technology can help an agent sell your
home.
11. What's your business philosophy? While there's no
right answer to this question, the response will help you
assess what's important to the agent—fast sales, service,
etc.—and determine how closely the agent's goals and
business emphasis mesh with your own.
12. How will you keep me informed about the progress of my
transaction? How frequently? Using what media? Again, this
is not a question with a correct answer, but that one
reflects your desires. Do you want updates twice a week or
don't want to be bothered unless there's a hot prospect?
Do you prefer phone, e-mail, or a personal visit?
13. Could you please give me the names and phone numbers
of your three most recent clients? |
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