Seller Beware!

We were approached by someone who is interested in buying our home. The buyer has provided us with an unsigned sales agreement as their offer. They are offering 1.5% of the purchase price as their hand money and we assume they have the money – its a cash offer.  Are we wasting our time with these buyers?

The very short answer is yes! For starters, to be a valid offer, it must be in writing and signed. Without a signed contract, you have absolutely nothing to bind the buyer should you decide to proceed. What you received is not an offer at all and you should not give it serious consideration until the paperwork is signed by the buyer.

Hand money equal to 1.5% of the offer may or may not be sufficient depending on the individual circumstances. Sometimes that is all a buyer can afford. However, this buyer is supposedly paying cash so there should be no problem with them providing a more substantial deposit. Look for a minimum of 5% in this type of scenario. The hand money is your consolation prize should the buyer decide not to close after all contingencies have been satisfied – if you have moved out, you will need at least that much to compensate you for all of your moving costs.

As far as assuming they have the money to buy it, I would recommend that you not engage in any substantive negotiations until the buyer has proven that they do have the cash available to close. Talk is cheap, but if they really do have the cash, they will have no problem producing copies of statements showing the cash or a letter from their banker that they have the needed funds.

Your question addresses just a few of the hundreds of complexities involved in getting a home sold and highlight why it’s really important to engage a full-time real estate expert when buying or selling a home.  Most buyers expect the seller to discount a home 6% when there is no Realtor involved, so there is rarely a benefit to a seller from being unrepresented.

601 Academy Avenue, Sewickley

Stunning remodel of this signature Sewickley Village home!  Huge rooms, beautiful new white kitchen, remodeled baths and unparalleled architectural interest combine in a home you will enjoy living in and a location you will absolutely love!  Located in one of Sewickley’s most popular neighborhoods with tree-lined streets and sidewalks to everywhere.  Amazing, flat and private yard, detached garage with finished space above! $1,675,000

 

49 Woodland Road

Boasting newer kitchen and baths in a sought after Village neighborhood, 49 Woodland offers a unique opportunity for newer construction in the heart of Sewickley Village.  The main level master offers hard-to-find convenience – with 3-5 additional bedrooms upstairs. The beautifully remodeled white kitchen opens to family room and sunroom, with 3 walls of windows overlooking the private backyard.  The three car attached garage offers another hard-to-come buy amenity in the Village, as does the finished lower level! $1,625,000.

 

 

 

 

QUICK SEARCH

I’m ready to answer any questions you have regarding your real estate needs.
 
 
Kathe Barge, CRS, ABR, CNE, SRES
Associate Broker
HOWARD HANNA
REAL ESTATE SERVICES
401 Broad Street
Sewickley, PA 15143
Cell: 412-779-6060
Office: 412-741-2200 x238
kbarge@howardhanna.com

Finding It Online

We’re hoping to move in the New Year and are beginning our search online – is there anything we should keep in mind?

The majority of buyers will shop online during their search for a new home, and many will actually begin their search there, like yourselves! The real estate industry has come such a long way in the 20+ years since I started in this business. Back in what feels like a different century (perhaps because it was), we used bulky multilist books that were delivered every other week to find homes for our clients. If you were in good with your agent, she might lend you a coveted book to take home and peruse! Now you can access the entire nation’s real estate inventory on national websites such as realtor.com in the comfort of your own home!

The internet has made it incredibly easy for buyers to do some preliminary research for a new home. It does have its limitations, however, which is where your expert real estate agent can fill in the gaps.

Online listings, if managed by a good agent, will always look amazing. Wide-angle lenses and professional photographers are employed, as well as photo-editing software, to make a home look as attractive as possible online. It’s worth keeping in mind that pictures may lie – be careful not to screen out potential homes just because the photos aren’t fabulous – rely instead on the wisdom of your agent. If she has listened to your feedback and is familiar with the inventory, she will be your best screen for which homes are better than they appear, and which may be worse.

Online listings also don’t give you much of a sense of location. While google earth may help with some of this, until you actually drive by a property, you may not be able to tell physical lot characteristics that may be a positive or a negative to you. Online listings also can do little to convey a sense of neighborhood or community. Again, that is where your real estate professional should be able to fill in the picture for you.

Finally, online listings are only as good as the agent who enters the data – there may be information about the property that is not entered into the MLS, either by agent oversight or by simple lack of space, that might make a home more desirable to you. Information such as camera security systems, water softener and purification systems, high-efficiency mechanicals and smart home systems may have real value to you and is rarely listed online. Online shopping is a great way to familiarize yourself with the market, but a local real estate expert is your best course of action once your curiosity grows more serious.

106 Raintree Lane

Fabulous newer Sewickley home checks every box! The huge yard offers plenty of play space! Inside, the open floorplan is ideal for daily living and entertaining. Upgraded kitchen with granite tops and stainless appliances is open to family room with fireplace and large breakfast room with walls of windows overlooking the yard. Finished lower level with full bath is ideal for indoor fun! Upstairs there are four bedrooms including a spacious master suite. Wonderful attached garage. Main level laundry. Fabulous deck off kitchen/breakfast room is wonderful for warm-weather entertaining. This is a well-built S&A home with a great yard, a great floorplan and a great sense of style! $555,000

321 Merriman Road, Sewickley Heights

An exceptional opportunity to live on 42 gently rolling acres in very desirable Sewickley Heights.  Beautifully remodeled, this classic historic colonial perfectly blends sophisticated living, modern amenities, and stunning architectural details throughout!  Featuring 6 bedrooms, 7 full and 2 half baths, this home boasts a grand entry hall, large open kitchen and inviting two-story family room, well-cabineted butler’s pantry, two mudrooms, handsome private den, spacious formal rooms, main-level gameroom with three walls of windows, large bedrooms and fabulous master suite with dressing room. Glass doors open to charming patios which spill out onto the sprawling lawns!  Wonderful pool, outdoor kitchen and living space with impressive outdoor fireplace offer ideal venues for warm-weather entertaining and fun!  Four car garage. $4,250,000

QUICK SEARCH

I’m ready to answer any questions you have regarding your real estate needs.
 
 
Kathe Barge, CRS, ABR, CNE, SRES
Associate Broker
HOWARD HANNA
REAL ESTATE SERVICES
401 Broad Street
Sewickley, PA 15143
Cell: 412-779-6060
Office: 412-741-2200 x238
kbarge@howardhanna.com

Real Estate and The Holidays

Our home is on the market – is it ok to show it decorated for the holidays or should we take it off the market?

Buyers who are shopping during the holidays are some of the most serious buyers we see each year – most people don’t bother spending their precious holiday time looking at homes unless they have a need to buy. So keeping your home on the market over the holidays is generally a good idea!

Decorating for the holidays while your home is on the market is also not a bad idea – homes often look their best decorated for the holidays – as long as a few basic guidelines are followed. Briefly stated, when decorating this holiday season, keep your decorations more neutral and reasonably simple.

Start by taking a more minimalist approach. You may have bins and bins of holiday decorations like I do, but when your home is on the market, its best to leave some of those decorations packed away. Choose decorations that have less of a religious theme. Snowmen, evergreen wreaths, poinsettias and nutcrackers, for example, have broad appeal. Be careful that the decorations that you do choose compliment your décor.   You may have changed the color scheme in your home since buying your holiday decorations and it’s important that they don’t clash! Don’t over-decorate the exterior of your home either. A few well placed, tasteful strands of lights or an attractive evergreen wreath can add sense of warmth to your home, but keep your inflatables packed up!

If you bring in a tree, make sure it doesn’t overwhelm the room. This year a tall, skinny tree might be the best choice so that the room doesn’t feel small. And of course, consider using decorations to highlight some of your home’s special architectural features, such as using candles to draw attention to an attractive fireplace.

When showings are scheduled, a brewing pot of mulled cider or a plate of freshly baked cookies is not only seasonably appropriate but will go along way toward creating an inviting feel for your buyers. And don’t forget – even if you normally keep your thermostat down, be sure to turn it up for showings so that buyers are comfortably warm!

601 Academy Avenue, Sewickley – NEW LISTING!!

Stunning remodel of this signature Sewickley Village home!  Huge rooms, beautiful new white kitchen, remodeled baths and unparalleled architectural interest combine in a home you will enjoy living in and a location you will absolutely love!  Located in one of Sewickley’s most popular neighborhoods with tree-lined streets and sidewalks to everywhere.  Amazing, flat and private yard, detached garage with finished space above! $1,675,000

 

49 Woodland Road

Boasting newer kitchen and baths in a sought after Village neighborhood, 49 Woodland offers a unique opportunity for newer construction in the heart of Sewickley Village.  The main level master offers hard-to-find convenience – with 3-5 additional bedrooms upstairs. The beautifully remodeled white kitchen opens to family room and sunroom, with 3 walls of windows overlooking the private backyard.  The three car attached garage offers another hard-to-come buy amenity in the Village, as does the finished lower level! $1,625,000.

QUICK SEARCH

I’m ready to answer any questions you have regarding your real estate needs.
 
 
Kathe Barge, CRS, ABR, CNE, SRES
Associate Broker
HOWARD HANNA
REAL ESTATE SERVICES
401 Broad Street
Sewickley, PA 15143
Cell: 412-779-6060
Office: 412-741-2200 x238
kbarge@howardhanna.com

Selling During the Holidays

Our home is on the market – is it ok to show it decorated for the holidays or should we take it off the market?

Buyers who are shopping during the holidays are some of the most serious buyers we see each year – most people don’t bother spending their precious holiday time looking at homes unless they have a need to buy. So keeping your home on the market over the holidays is generally a good idea!

Decorating for the holidays while your home is on the market is also not a bad idea – homes often look their best decorated for the holidays – as long as a few basic guidelines are followed. Briefly stated, when decorating this holiday season, keep your decorations more neutral and reasonably simple.

Start by taking a more minimalist approach. You may have bins and bins of holiday decorations like I do, but when your home is on the market, its best to leave some of those decorations packed away. Choose decorations that have less of a religious theme. Snowmen, evergreen wreaths, poinsettias and nutcrackers, for example, have broad appeal. Be careful that the decorations that you do choose compliment your décor.   You may have changed the color scheme in your home since buying your holiday decorations and it’s important that they don’t clash! Don’t over-decorate the exterior of your home either. A few well placed, tasteful strands of lights or an attractive evergreen wreath can add sense of warmth to your home, but keep your inflatables packed up!

If you bring in a tree, make sure it doesn’t overwhelm the room. This year a tall, skinny tree might be the best choice so that the room doesn’t feel small. And of course, consider using decorations to highlight some of your home’s special architectural features, such as using candles to draw attention to an attractive fireplace.

When showings are scheduled, a brewing pot of mulled cider or a plate of freshly baked cookies is not only seasonably appropriate but will go along way toward creating an inviting feel for your buyers. And don’t forget – even if you normally keep your thermostat down, be sure to turn it up for showings so that buyers are comfortably warm!

 

601 Academy Avenue, Sewickley – NEW LISTING!!

Stunning remodel of this signature Sewickley Village home!  Huge rooms, beautiful new white kitchen, remodeled baths and unparalleled architectural interest combine in a home you will enjoy living in and a location you will absolutely love!  Located in one of Sewickley’s most popular neighborhoods with tree-lined streets and sidewalks to everywhere.  Amazing, flat and private yard, detached garage with finished space above! $1,675,000

 

49 Woodland Road

Boasting newer kitchen and baths in a sought after Village neighborhood, 49 Woodland offers a unique opportunity for newer construction in the heart of Sewickley Village.  The main level master offers hard-to-find convenience – with 3-5 additional bedrooms upstairs. The beautifully remodeled white kitchen opens to family room and sunroom, with 3 walls of windows overlooking the private backyard.  The three car attached garage offers another hard-to-come buy amenity in the Village, as does the finished lower level! $1,625,000.

 

 

 

 

QUICK SEARCH

I’m ready to answer any questions you have regarding your real estate needs.
 
 
Kathe Barge, CRS, ABR, CNE, SRES
Associate Broker
HOWARD HANNA
REAL ESTATE SERVICES
401 Broad Street
Sewickley, PA 15143
Cell: 412-779-6060
Office: 412-741-2200 x238
kbarge@howardhanna.com

The Power of Compromise

We would like to move to Sewickley.  Are there any affordable homes anymore?

Of course there are!  But Sewickley, particularly in affordable price ranges, has become a very competitive market.  It seems the secret is out – many people know about our very unique combination of a highly rated school district and a charming, walkable shopping district.  Every agent I know has a list of buyers waiting for affordable homes to become available!

What does this mean for you as a home buyer?  First, its critical to make sure you are fully pre-approved for a mortgage.  If you are fully pre-approved (having submitted all of the supporting documents to your lender), you may be confident in your ability to get a mortgage and feel comfortable waiving your mortgage contingency, which will make you a much more competitive buyer if there are multiple offers.

Second, keep your offer as “clean” as possible.  Try not to add in special requests or inclusions that sellers don’t usually leave with a home (such as furniture). Keep your inspection period as short as possible, or consider waiving inspections altogether if it is a newer home.

Third, keep your offer prices up.  If you love a home, that is no time to lowball a seller.  Even if a home has been on the market for a while, we often receive multiple offers at the same time. You don’t save anything when you make a low offer and you don’t get the home.

Finally, be open to compromise.  If a home meets 7 out of 10 of your wish list items, consider it a home run. In a tight market like we are in, if you hold out waiting for your perfect 10, you will likely find yourself sitting on the sidelines.  To get a Sewickley home, you may have to give up a garage, or a two car garage. You may need to take on a few projects.  You may need to accept that there is no master bathroom or no main level family room.  You may need to accept that the basement ceilings are lower and so any “game room” is a little more basic.  You may have to accept a less open floorplan or a longer distance to the center of town.  But remember, once you close you will make it your home, flaws and all, and will absolutely love being a part of this vibrant community!

 

515 Spanish Tract 

Amazing privacy, peace and quiet in this gorgeous mid-century modern home sited on 8 exquisite acres in close-in Sewickley Heights.  Incredible remodel features a main level master, main level laundry and attached garage — this house easily functions for those seeking one level living.  Four additional bedrooms, four additional baths, wonderful walk-out lower level and stunning indoor pool with waterfall.  An amazing peaceful home with exceptional amenities.  $1,495,000.

 

141 Beech Ridge Drive

Beautifully remodeled newer high-end custom construction home nestled on 8 private acres in Sewickley. Newly painted interior. New carpeting. New lighting.  Newer designer kitchen. Updated/new baths. Half-court indoor basketball court, full racquetball/squash court, complete locker room facilities including sauna, 60’x30’ heated in-ground concrete salt water pool w/ stone waterfalls, patio w/ outdoor fireplace, 6 bedrooms, 5 full & 4 half baths, 9 fireplaces, 6 garage spaces, two kitchens, wine room, roof-top observation deck, new home theater.  Simply remarkable! $3,500,000

QUICK SEARCH

I’m ready to answer any questions you have regarding your real estate needs.
 
 
Kathe Barge, CRS, ABR, CNE, SRES
Associate Broker
HOWARD HANNA
REAL ESTATE SERVICES
401 Broad Street
Sewickley, PA 15143
Cell: 412-779-6060
Office: 412-741-2200 x238
kbarge@howardhanna.com

Mortgages: Local or Online?

We are planning to buy a new home soon – we see advertisements for internet lenders offering what seem to be below market rates. Is this too good to be true?

If you are simply refinancing an existing mortgage debt, you MAY be ok choosing an internet lender.  You just need to be very careful that, before you apply to refinance your loan, you receive from the lender a full disclosure of all the costs and not just the rates. Oftentimes I see lenders have exorbitantly high fees connected with low rates.  In a sense, you are buying down your rate by paying high fees upfront.  Be sure to compare them on the same day to a couple of local lenders and understand what you are paying to get the quoted rates.  The reason you must compare rates on a singular date is because rates go up and down continuously and a rate may seem lower simply because you called a particular lender on a date rates dropped.

If you are buying a home rather than refinancing, I do NOT recommend that you use an internet lender.  They do not tend to be familiar with area norms and that can cause you more headaches than you can imagine.  There is a long list of particularities to PA Agreements of Sale and the last think you want to do is have your closing delayed (while your movers are standing at the curb) while you wait for your lender (who does not have a local presence that you can  visit personally to address any issues) to sort things out.  As they are not familiar with our Agreements and processes, internet lenders may also impose requirements on you to “fund your loan” that are not requirements generally imposed by local lenders that may disadvantage you later.  Finally, internet lenders often do not understand that PA Agreements of Sale declare “time is of the essence” inside the contract – what that means to you is that if you miss your closing date because the lender isn’t ready to close, the seller does have the legal right to declare you in default, keep your hand money and sell the home to someone else.

When buying, why take a risk?  Rely on your trusted Realtor to help you find a local lender who offers the most competitively priced loan products and delivers exceptional customer service.  Realtors cannot accept referral fees from lenders, so you can be sure we are motivated only by knowing you will have an outstanding transaction.  Feel free to reach out to me for help finding you the best local lender to meet your financing needs!

213 Chestnut Road

Beautifully remodeled Sewickley Village Victorian with high ceilings, open floorplan and fabulous original architectural detailing.  Wonderful newer master suite with stylish newer bath.  Four finished levels of living space including lower level gameroom. Flat backyard, two car detached garage.  A very easy walking distance to Village shops and restaurants. $795,000

 

518 Irwin Drive

Exceptional opportunity to own one of Sewickley’s landmark homes! Recently remodeled with a current design aesthetic, this notable home is architecturally impressive and yet incredibly comfortable for today’s lifestyles.  Outstanding main level space includes a huge kitchen open to a large family room, spacious “homework room” adjacent to the kitchen, and living room, dining room and den.  Finished lower level. 6 bedrooms, 4.5 baths PLUS a nanny/in-law suite.  Incredible yard with room for a pool.  So close to all Village amenities and yet giving you the perfect amount of privacy.  $2,700,000.

QUICK SEARCH

I’m ready to answer any questions you have regarding your real estate needs.