Taking the First Steps

Taking the First Steps

by | Jun 26, 2024 | Blog, Buyers, Buying Conditions, Contracts, Helpful Tips, Interest Rates, Listings, Market Trends, Mortgage, Property Value

We’re first time home buyers – where do we begin? 

Buying a home is one of the best choices you can make.  Rather than paying money to your landlord so that he can be closer to owning an asset outright each month, when you make your monthly payment each month a portion actually goes to your benefit – when you sell the home someday, as long as the market is in a good place, that money is refunded to you (called equity) and you can use it to buy again.  It is, in effect, a forced savings plan and over time you can amass quite a large amount of savings while you are simply doing what you would have done otherwise – paying for housing each month.

To buy a home, however, you must have two things to start:  a down payment and good credit.  There a host of specialty loan products for first time home buyers far too extensive to review here, but figure on saving no less than 2.5% of the purchase price for a down payment if you are able to use an FHA product or 10% if you are going to use a typical mortgage.  Credit scores are also key.  Again, there are many things you can do to help or hurt your credit as you prepare to buy your home.  Do not open any new credit – don’t buy any new cars. Pay all bills on time.  Even if you are not ready to buy yet, it’s a great idea to connect with a reputable local mortgage broker right away to make sure you are headed in the right direction. (I can help facilitate this connection for you).

When you think you are ready, start by finding a full-time buyer’s agent.  A Buyer’s Agent is looking out for your best interests from the outset.  Check the agent’s personal website, LinkedIn page, Google business page and professional credentials, review their references, and interview if you wish.  Make sure you understand what the agent will do for you and be sure you have done your homework and are selecting the best agent for your needs.  Buying a home may be your largest investment – choose the agent who represents you once you have done your thorough due diligence. Once you select an agent, you will need to sign two documents:  a Consumer Notice, informing you of your rights, and a Buyer Agency Agreement, whereby you actually hire the agent to work for you. 

If you have not already done so, you should work with your agent to get a mortgage pre-approval.  The mortgage broker will review your assets, liabilities and credit and give you a written statement of how much you can afford to buy.  This step cannot be skipped.  There is no sense looking at homes you can’t afford.

With pre-approval in hand and agent on board, you are now ready to begin the home buying process…stay tuned – in two weeks I will continue to walk you through the process…it’s when the fun begins!

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Experience Makes

The Difference

If you’re moving across town, from elsewhere in the state, or even relocating
across the country, I can help you find the perfect home! 

Connect With Kathe

Increasing Your Property Value

Increasing Your Property Value

by | Apr 16, 2024 | Blog, Design, Helpful Tips, Home Improvements, Home Staging, Listings, Market Trends, Mortgage, Property Updates, Property Value, Sellers, Selling Conditions

What are some cost-effective ways to increase the value of my property before putting it on the market? 

Boosting the value of your property doesn’t always require significant financial investment. There are several cost-effective strategies that can enhance your home’s appeal and attract potential buyers at a low out of pocket cost. One approach is to focus on curb appeal. Simple yet impactful improvements such as freshening up the exterior paint (particularly the front door), mowing the lawn, trimming bushes, weeding your landscaping beds and adding potted plants or flowers can instantly elevate the first impression of your property. A well-maintained and inviting exterior not only attracts buyers but also sets the tone for the rest of the home tour.

Another cost-effective way to increase the value of your property is by making small changes to modernize its design aesthetic. Upgrading key features such as lighting fixtures, faucets, and cabinet hardware can give your home a modern and refreshed look without breaking the bank. Changing out worn or dated carpeting is also easy and reasonably cost effective/

Furthermore, don’t underestimate the power of a thorough cleaning and decluttering. Clearing out excess clutter, organizing closets, and deep cleaning surfaces can make your home feel more spacious, inviting, and well-maintained. This simple yet effective step allows buyers to envision themselves living in the space and highlights the full potential of your property.

By implementing these cost-effective strategies, you can increase the value of your property and attract more buyers, ultimately maximizing your return on investment when it’s time to sell.  If you’d like advice specific to your home, whether you are considering selling this year or in five, please reach out to me!

Experience Makes

The Difference

If you’re moving across town, from elsewhere in the state, or even relocating
across the country, I can help you find the perfect home! 

Connect With Kathe

Getting Ready For Market

Getting Ready For Market

by | Feb 12, 2024 | Blog, Buyers, Buying Conditions, Design, Helpful Tips, Home Staging, Inspections, Investment Properties, Listings, Property Updates, Property Value, Sellers, Selling Conditions

How do you approach homes that may not be ready for market when you first see them?  Is it better if the home is completely ready before you see it?

Generally, its best if I see your home before you make any changes to get it ready for market. After 25 years selling real estate in this town, I am able to help you figure out where your money is best invested to reap the highest return from the market and advise you on current trends.  You may be focusing on things that are not important to buyers, and may overlook things that are.

Realizing top market value is a common goal for sellers, and in today’s HGTV-inspired market, it’s achievable with the right preparations. I’m here to guide you through those decisions, using my market expertise to ensure that your investments are both wise and likely to return their value. Together, we can navigate the nuances of the market’s current expectations. My role is to provide you with candid, constructive feedback to help you understand the market’s perspective. It’s a collaborative journey, where I share insights—not to criticize, but to empower you. I appreciate the love and care you’ve invested in your home, and my aim is to honor that by positioning your property as a compelling opportunity for buyers, avoiding the pitfalls of a stagnant listing or the need for multiple price adjustments.  Therefore, while your home’s story is uniquely yours, I’m here to help translate it into the universal language of the current market for a seamless sale. Let’s work together to turn your home’s potential into a polished presentation that stands out, ensuring you don’t just list your house, but truly showcase it for what it can offer to the next owner!

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Experience Makes

The Difference

If you’re moving across town, from elsewhere in the state, or even relocating
across the country, I can help you find the perfect home! 

Connect With Kathe

Spring 2023 Market Update

Spring 2023 Market Update

by | Apr 19, 2023 | Blog

Where have you been?  How is the market? We aren’t seeing much come on the market. 

At long last, Ask Kathe is back!  For those of you who follow Ask Kathe on my website, AskKathe.com or KatheBarge.com, I have continued to post replies.  As most of you know by now, after 24 years selling residential real estate in Sewickley, I moved to Piatt Sotheby’s International Realty in January.  And as you also could likely anticipate, transitions take time, so I have been busy behind the screens getting ramped up for the spring market and am excited that spring is finally here!

Data over 10 years shows that the number of pending and closed sales have been consistent over the past 10 years.  Yes, there are seasonal ebbs and flows, but taking a year-over-year approach, it is remarkable how steady our market has been.  Additional data shows that prices on the eastern side of our country continue to rise.  Rising interest rates may have caused a temporary slow-down in sales last fall, but that has become an irrelevancy in our market at this point.  Buyer have adjusted to the fact that the rates are where they are, and they still want or need to move.  As we like to say “you only date the rate.” There will be opportunities to refinance at lower rates down the road. 

What the data does show, however, is that we have about one-third the inventory available at any given time than we did before COVID. This is due in part to the fact that there remains so much pent up demand that when a well-conditioned, appropriately priced home comes on the market, it sells quickly, keeping inventory levels low.  What does all this mean?  Buyers have far less to choose from at any given time and as a result, need to adjust expectations and be less choosey.  The perfect house may be years away.  And sellers, my age old mantra, again – if you would consider a move, there has never been a better time than now! Reach out to me and let’s strategize on how you can make the most of this incredible seller’s market!

Experience Makes

The Difference

If you’re moving across town, from elsewhere in the state, or even relocating
across the country, I can help you find the perfect home! 

Connect With Kathe

Sounds Too Good To Be True

Sounds Too Good To Be True

by | Dec 1, 2022 | Blog, Buyers, Buying Conditions, Contracts, Helpful Tips, Interest Rates, Market Trends, Mortgage, Property Value, Real Estate

WE WOULD LIKE TO BUY A NEW HOME SOON BUT INTEREST RATES SEEM VERY HIGH – WE SEE ADVERTISEMENTS FOR INTERNET LENDERS OFFERING WHAT SEEM TO BE BELOW MARKET RATES.  IS THIS TOO GOOD TO BE TRUE? 

If you were simply refinancing an existing mortgage debt, you MAY be ok choosing an internet lender.  You would 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.  Often times I see lenders have exorbitantly high fees connected with low rates.  In a sense, you would be buying down your rate by paying high fees upfront.  You would want to 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.

Since you are buying a new 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 thing 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 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!

Experience Makes

The Difference

If you’re moving across town, from elsewhere in the state, or even relocating
across the country, I can help you find the perfect home! 

Connect With Kathe

Holiday Decor When Trying To Sell

Holiday Decor When Trying To Sell

by | Nov 14, 2022 | Blog, Design, Helpful Tips, Listings, Marketing, Sellers, Selling Conditions

Our home is on the market – is it ok to show it decorated for the holidays?

Decorating for the holidays while your home is on the market is 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!

Experience Makes

The Difference

If you’re moving across town, from elsewhere in the state, or even relocating
across the country, I can help you find the perfect home! 

Connect With Kathe

The Value of a Deep Clean

The Value of a Deep Clean

by | Sep 13, 2022 | Blog, For Sale By Owner, Helpful Tips, Home Improvements, Home Staging, Listings, Market Trends, Marketing, Property Updates, Property Value, Real Estate, Sellers, Selling Conditions

Do we really have to have our home professionally deep cleaned before putting it on the market?

The short answer is yes, but here is why! When we live in our homes, we don’t see the dirt and the grime build up.  Even if you have your home cleaned every week, it is impossible for a weekly cleaning to keep up with the little things.  And when you want to sell your home, to achieve top dollar, it is important that your home sparkles at the highest possible level.  We are no longer in a market where buyers are happy to get any house.  We have moved back to a more traditional market and that means that sellers must take the time and incur the expense of a deep cleaning to make sure your home is squeaky clean and showing its very best.

Deep cleans are expensive and when done properly take many days of work.  It is unlikely that your weekly housekeeper (if you have one) is going to have the time to clean at this level.  Should you choose to take on the task yourself, you will soon see why deep cleans are costly and time consuming. So what is involved?  In every room of your home, every surface must be thoroughly cleaned.  Light switches and plugs should have all grime completely removed and restored to new, all vent covers (heating, ceiling fans, appliances) must be removed and washed (some may need to be repainted), all lighting fixtures must be carefully cleaned (including removing any glass bowls to clean inside) and should sparkle, all cabinets and drawers should be cleaned inside and out, windows should be washed inside and out including screens and tracks, carpets should be steam cleaned, shower grout needs to be cleaned, mineral build-up should be removed from shower/bath glass and all plumbing fixtures (try CLR and a scrub brush, or Stanley Steamer if the deposits wont budge), fireplaces need to be swept out and scrubbed down (if you burn wood in them, call a chimney sweep for a professional cleaning).  All wood work needs to be washed down or repainted as needed to look fresh.  Any smudging on walls needs to be cleaned or painted away.

Outside your home be sure that all doors are clean and fresh, that your porch/deck is clean (power wash if needed), that all lighting fixtures sparkle and that all patios and walkways are freshly power washed.

You may of course find it helpful to employ additional service providers, such as a power washer, carpet cleaner and window washer to get the job done right! It’s a big task cleaning up after years of enjoying a home, but it will absolutely pay dividends when you go to sell.

Experience Makes

The Difference

If you’re moving across town, from elsewhere in the state, or even relocating
across the country, I can help you find the perfect home! 

Connect With Kathe

The Effects of Rising Interest Rates

The Effects of Rising Interest Rates

by | Feb 10, 2022 | Blog, Buyers, Buying Conditions, Contracts, Investment Properties, Listings, Market Trends, Mortgage, Property Value, Real Estate

What impact do you think rising interest rates will have on the real estate market? 

I can’t tell you how many years the Fed has been warning us that they are going to raise the interest rates, and then nothing happened. But now, it looks like it is finally happening. Less than one year ago, conforming loans with good credit could be procured at rates below 3% fixed. Now they have inched up to 3.75% for conforming loans. While these are still historically great rates, the days of mortgage interest rates in the 3% range appear to be gone and we are slowly inching upward.

What impact will this have on the market? Typically, when rates increase the market slows. Buying power decreases – a buyer will qualify for a smaller mortgage amount when rates are higher. Even if a buyer qualifies for a loan amount, they may not want to pay the added amount each month attributable to the higher rate. Many buyers are cognizant of how much they don’t have available to spend on quality of life purchases, such as dinners out, when they have larger mortgage payments. This boils down to the fact that they may be unwilling or unable to buy at a price they could have last year, and this could depress housing prices.

However, this is counterbalanced by the fact that we are in a market with record low levels of inventory, so it is highly unlikely that interest rates will have any effect on housing prices in the short run. If anything, rising rates should cause buyers to move quickly and lock in homes and mortgages before rates continue to climb. And this would be the most sensible short-term response to rising rates. Buyers – rates are actually going up! The time to act is now!

Experience Makes

The Difference

If you’re moving across town, from elsewhere in the state, or even relocating
across the country, I can help you find the perfect home! 

Connect With Kathe

Investment Properties

Investment Properties

by | Jan 27, 2022 | Blog, Buyers, Buying Conditions, Contracts, Investment Properties, Market Trends, Mortgage, Property Value, Real Estate

We are interested in diversifying our portfolio and purchasing rental properties – any thoughts?

 The first thing to keep in mind when considering a rental property is how you intend to pay for it. Rental properties are investment properties and subject to different lending rules than the home that you live in. Therefore, a lender will expect that you put more down as a down payment on a rental property and you will pay a higher rate of interest. Typically, lenders are looking for no less than 20% down on your purchase.  And of course until you establish yourself as a successful landlord, your income is going to need to be sufficient to support the mortgage on your primary residence as well as any debt on your rental investments.

The second thing you need to think about is what kind of tenant you are interested in renting to. If you are hoping to rent to a family who might be in town for a couple of years with a temporary job assignment, then purchasing an apartment building with one and two bedroom apartments is unlikely to attract the type of tenant you hope to find. In that scenario, you would be looking for a single-family home in all likelihood (or possibly a townhome) in a good school district such as Quaker Valley. If you are hoping to find young professionals, you might look for something closer to downtown that has a trendier vibe to it.

You also need to take a look at the return on investment that you are seeking from the property. You will need to consider how much you are putting down on the property, how much you were paying in interest on any mortgage that you take out, your property taxes, maintenance of the building, any homeowners association fees, and any utilities that might be the responsibility of the landlord (these are typically utilities that are not separately divided in the particular structure, such as water).  Putting together a spreadsheet with all of the expenses and your expected income will help you to determine whether or not the anticipated net income is worth the risk of investment to you.  Be sure to build in some vacancy months – most properties are not leased 100% of the time.

Finally, you need to give some thought to how you will manage the property. Are you going to hire a property management company to handle that for you, or will you be more hands-on? Who is going to handle maintenance requests when something goes wrong? The beauty of being a tenant is that if something breaks, it’s not your responsibility to get it fixed. But as the landlord, are you going to be taking care of the repairs and if not, do you have a reliable handyman on-call that is willing to handle those items for you. If you are planning for others to manage the property on your behalf, you will need to build those costs into your financial projections as well.  If investment properties are something you would like to consider, feel free to reach out to me and we can discuss these opportunities further.

Experience Makes

The Difference

If you’re moving across town, from elsewhere in the state, or even relocating
across the country, I can help you find the perfect home! 

Connect With Kathe

Buyer Trends to Consider When Remodeling

Buyer Trends to Consider When Remodeling

by | Jan 17, 2022 | Blog, Market Trends, Property Value, Sellers

We are in the middle of remodeling and want to make sure we create a home the market will embrace on resale.  Any suggestions?

The number one requested item from buyers nationally is a dedicated laundry room – a place where they can spread out and get laundry done (rather than a stackable in a closet).  If you have space to include a cute laundry room in your plans, that would be a great investment (and don’t forget to choose energy star rated appliances – younger buyers highly value energy efficiency).  Exterior lighting is the most desired outdoor feature – not only will this make your home look phenomenal for twilight photos, but it provides added safety to a home.

Buyers these days are very concerned about energy efficiency, so if you are making changes, be sure to choose energy efficient mechanicals (furnaces, water heaters…), appliances, lighting fixtures and windows.

Your outdoor space will be very important as well. Buyers are very accustomed to seeing gorgeous outdoor spaces on their favorite HGTV shows and if they find one at your home, that will go a long way to driving in top dollar on your sale.

If you are renovating a kitchen, white cabinets remain the gold standard, paired with lighter tops.  Double bowl sinks are now considered a must, and a walk-in pantry is a big plus.

Finally, other popular features include a main level full bath, storage in the garage and a walk-in closet (or two) in the owners’ suite. I am more than happy to help guide you on your choices to help insure that they will yield you a great return – reach out anytime!

Experience Makes

The Difference

If you’re moving across town, from elsewhere in the state, or even relocating
across the country, I can help you find the perfect home! 

Connect With Kathe

Choosing the Right Home

Choosing the Right Home

by | Nov 8, 2021 | Blog, Buyers, Mortgage, Real Estate

We are eager to buy a new home but worry that we may not make a good choice. Any advice?

Surveys have shown that 33% of baby boomer and 64% of millennial home buyers have some level of regret when buying a home, and given the fast-paced market we have been in this year, it is easy to understand why.  The leading regrets center around financials – buyer often worry they may not be able to afford the home.  Other concerns include the house being mis-sized for their needs, or the location not being ideal. In this market it is important to strike a balance between achieving your dreams and actually getting a house.  Inventory is very limited and has been for nearly two years, so holding out for your perfect location, or the precisely correct amenities, may keep you waiting on the sidelines for a very long time. However, there are many things you can do to avoid having financial doubts. Before you enter into a contract to purchase a new home, start with your budget.  Make sure you have a realistic idea of how much cash you have available each month after income taxes.  Even if a lender can “qualify” you for a mortgage, you may not feel the payments are affordable, depending on how much you need for your monthly “lifestyle” outside of housing.  Ask your lender to do a deep dive into your financials and really understand what your monthly payment will be – this number will vary depending on your interest rate, taxes…  As you consider whether or not to view a home, look at the taxes, including what they might increase to after you buy the home.  Also consider the cost of property insurance as well as some of the costs lenders don’t look at such as utility costs, maintenance costs (this can be grounds, pools, or general household upkeep) and homeowner association fees.  Finally, when considering a specific home, consider any deferred maintenance that will need to be attended to in the next 5 years, such as replacing old roofs or heating systems – these items all need to be added into your current budget. Once you have a good sense of what the actual monthly cost of a home will be, make sure that you are comfortable with what is left over.  Being “house poor” for a very short term, such as if you are expecting a major promotion, is one thing.  Stretching to your maximum affordability long term with no significant income adjustment, however, might start to feel tiresome when you can’t afford the vacations or entertainment that you have come to enjoy.  Take the time to do the hard work up front and educate yourself on these factors and you will be far less likely to regret the home choice you ultimately make.   

Experience Makes

The Difference

If you’re moving across town, from elsewhere in the state, or even relocating
across the country, I can help you find the perfect home! 

Connect With Kathe

Mortgages and Retirements

Mortgages and Retirements

by | Nov 1, 2021 | Blog, Buying Conditions, Contracts, Listings, Market Trends, Mortgage, Property Updates, Property Value, Real Estate, Sellers, Selling Conditions

We are planning for retirement and thinking of paying off our mortgage – is this a good idea? 

When it comes to personal finances, there is never a one size fits all answer. Financial advisors will often tell you that investing in the market will, over the long run, yield you a greater return than the interest rate you are paying on your mortgage (this has certainly been true in recent years what interest rates have been historically low).  However, markets are unpredictable and unless you are leaving your funds in a savings account at a bank, there is no guarantee you will not have a negative return in the market (see, for example, 2008). Additionally, if you pay off your mortgage, you are not getting the tax benefits of the mortgage deduction (available for mortgages up to $750,000 in size).

However, the counter argument is equally, if not more, compelling for many people. Without a mortgage, you are freed from having to worry about whether you have enough cash each month to pay your mortgage. Without a mortgage, your monthly expenses will likely be significantly lower. This not only allows you peace of mind, but would also allow you more monthly cash to spend on things you want to spend on, whether they be trips, gifts, or just more “experiences.”   If you ever sell your home, you will have a much larger nest egg to move to your next residence, whether it is to be closer to children or grandchildren in another location or whether it is into a retirement community (many of which do you have substantial deposit requirements).  Finally, there is no “risk” to the return you will get by paying off your mortgage. You know what your interest rate is on your mortgage and how much of a savings you will get each month when you pay it down.

However, it is never advisable to completely deplete your savings just to pay off a mortgage. If paying off your mortgage would substantially reduce or eliminate your emergency fund, then it is not a good idea.  If, however, you still have a few years until you retire and are able to pay down the mortgage at a significantly faster pace by increasing your monthly payment or by making a lump sum payment each year (perhaps designating a portion of a bonus that you receive toward your mortgage payment), tell me this is absolutely an option you should give some serious consideration to.

Experience Makes

The Difference

If you’re moving across town, from elsewhere in the state, or even relocating
across the country, I can help you find the perfect home! 

Connect With Kathe

Simplifying The Mortgage Process

Simplifying The Mortgage Process

by | Oct 11, 2021 | Blog, Buyers, Buying Conditions, Contracts, Market Trends, Mortgage, Real Estate

Do you have any tips on how to get through the mortgage process as smoothly as possible? 

I certainly do!  Below are a few pointers on what you should not do if you want your mortgage to move smoothly through the process!  This is critically important these days when competition is more intense for homes!

  • Don’t quit your job
  • Don’t change your job
  • Don’t get a promotion
  • Don’t buy any large ticket items (like five hundred dollars or more!)
  • Don’t make David Copperfield deposits (all funds need to be traceable)
  • Don’t forget to tell anyone making a funds gift to you that you will probably need a gift letter and some proof (usually a bank statement) that they had the money to give
  • Don’t forget to tell the lender about child support, alimony, wage garnishments or any other payroll reduction
  • Don’t co-sign for even a candy bar!
  • Don’t schedule a vacation before we close (especially a cruise)
  • Don’t order Direct TV, Cable, Telephone or any utility that will pull a credit report unless you want to write a letter of explanation about the credit report to the mortgage company
  • Don’t change your name during the mortgage process
  • Don’t go window shopping and let people pull your credit

Assuming that seems pretty straight forward to you, below are a few more choices some buyers make that make the process more difficult than it needs to be:

  • Not being up-front with your loan officer (hiding information)
  • Finding a lender on the internet that offers an unbelievable low interest rate
  • Using a 100% Online Lender
  • Not using the name on drivers licenses for mortgage docs (use Jr. and Sr. if required)
  • Not telling your lender if you lose your job before you close
  • Not shopping for the lowest costs and best rates
  • Delaying paperwork because you are irritated by the frequency and number of requests from the mortgage company

Take these pointers to heart and you will greatly simplify your mortgage process!

Experience Makes

The Difference

If you’re moving across town, from elsewhere in the state, or even relocating
across the country, I can help you find the perfect home! 

Connect With Kathe

TO SELL OR NOT TO SELL

TO SELL OR NOT TO SELL

by | Sep 14, 2021 | Blog, Home Staging, Listings, Market Trends, Real Estate, Sellers, Selling Conditions

We are thinking about selling the home we have lived in for 25 years but it seems like such a daunting task.  Do you have any advice?

If you are like most people who live in their homes for multiple decades, you have undoubtedly collected a lot of treasured memories in the form of physical objects.  Your son’s first “big boy bed,” your daughters first bike.  The furniture from your first apartment that you saved, certain one of your children would want it some day.  Whatever it is, a move to a smaller home means that you are going to have to part with much of what you have collected.

For starters, you need to give some thought to how much you will be downsizing.  If you are planning to move from a 4000 SF home to a 1500 SF condo, you have a lot of clean-out to do.  If you are moving from 3800SF to 3000SF, you will not need to dispose of as much.  I do recommend that you start your clean-out right away.  Your home will show much better if it is emptied of your “collections” and presents in a more minimalist way.

If you need help, a professional home organizer is your best first step.  An organizer can help you break down the process into manageable pieces and formulate a plan for the coming months.  You should anticipate that the process will take several months, maybe even a year.  Whether you use a professional or not, you should review all of your belongings to determine what you really NEED for your next adventure, and discard the rest.  If you have items that hold treasured memories, consider photographing them and creating a “Memories” book.

Even if your move is years away, now is a good time to get started on those areas of your home that you don’t regularly use anymore, such as adult children’s rooms.  Pack up their favorite things in Rubbermaid bins that you can easily send to their new residences someday and re-home the rest! For all of your “no longer needed” items, there are so many wonderful charities that will take them, and in addition to getting a home ready to sell and easily moved, you will get a tax deduction as well for your benevolence!  If you need help finding these organizations, or a professional organizer to get you started, feel free to give me a call!

A home’s value is set by the market.  Value is always determined by what a buyer is willing to pay for your home.  Many factors come into play in setting that value.  Market value reflects quantitative factors such as:  # bedrooms, # bathrooms, # garages, placement of garages (attached or integral), lot configuration (large and functional back yard?  Cliff lot?), location of the home generally, age of roof, age of mechanicals.  Market value also reflects more qualitative items:  how updated is your home, and is it all new, or just refreshed?  What is the floorplan (open concept?) What are your wall colors?  There is always a range that value will land in, which we call the range of reasonable.  There is no ONE price at which a home will sell.  If there are many buyers seeking a home like yours, it will sell at the top of the range of reasonable.  If there are not, it will take longer to sell and may sell a bit lower in the range.  What the market does not consider in setting a value of a home is what you need from the home.  In 2008, many homeowners had used their homes as ATMs and withdrawn large sums of money for educations, vacations and cars.  When the market softened, there was not enough equity for them to be able to sell their homes and not be in a short sale situation. This fact, that a homeowner over-extended themselves on mortgages, is not the least bit relevant to market value.  The market is also not going to consider what you plan to do next.  If you plan to move to Los Angeles to be closer to family and are finding that the Pittsburgh market is not going to yield you enough to be able to buy in L.A., you will need to turn to other investments to make up any difference.

We are in a very robust market – your home is far more likely to garner more now – whatever that may be – than it could have in the past.   Forecasters are also suggesting that values will soften by year end.  My crystal ball is out for service, but what I can tell you is that every hot market eventually softens.  Waiting out the market so that you can get a price that the market is unprepared to deliver at this time may have you waiting many, many years, and during that time you may need to invest even more in your home in order to deliver to the market what it needs in order to deliver an acceptable sale to you. 

Experience Makes

The Difference

If you’re moving across town, from elsewhere in the state, or even relocating
across the country, I can help you find the perfect home! 

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