Real estate is a well known to be competitive. We try to help you be a step ahead of everyone else in selling your home, and investing in another.

Holiday season is here and sellers have numerous real estate questions on their minds. Should I keep my property on the market? Should I list now or after the holidays? When is the best time to list?

It was originally thought that listing your property during the holidays was not the wise decision. However, with the Internet and potential buyers constantly on their phones, this forces the old logic to hold off until after the holidays out the window. Zillow said it best, "As a result of the Internet, our hectic schedules and mobile lifestyles, the fall months are no longer a real estate dead zone...There’s plenty of action happening after Labor Day through Christmas. The reality is, the home buying season is now year-round."

Today's serious buyers…

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You are paying for house insurance, assuming your property is covered for any natural disaster that can possibly occur. However, not all homeowners are aware that home insurance policies don't necessarily cover damage related to a flood, as the risks are too great. As a result, homeowners must purchase flood insurance through a private company.

What Is Flood Insurance?

Most insurance policies cover some form of water damage, ranging from leaking faucets to bursting plumbing pipes. Fun fact you may not realize is - some policies don't cover water damage because of flooding of rivers or backed up sewers that pump into your home. Standard flood insurance policies cover "direct physical damage" to a property resulting from floods.

A separate policies…

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Knowing what you want before you start looking is a big help when house-hunting. Providing your real estate agent with a list of 'must-haves' before you begin touring listings is a not only beneficial to your agent but yourself as well. 

Is it a 'Must-Have' or a 'Nice-to-Have'?

Before making a hasty decision, it is always wise to repeat to yourself: need, want or desire.

There are items that you want and certain 'deal breakers' that you cannot live without. An absolute 'must-have' might be proximity to work or certain schools, whereas desirable features could include a shed or a built-in barbeque pit. Knowing the difference between something you want and something that is absolutely required can save you a lot of time and money.

How to…

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It is easy for home buyers to get caught up in the excitement of buying their perfect home that they miss crucial points that they need to know about the property.

If you are buying a home, make sure that you don’t miss any of these commonly overlooked details:

Do the Appliances Work?

Take the time to test major appliances in the home to ensure they are functioning properly. This is a flaw that is often overlooked in a home inspection. It is a good idea to ask your home inspector to run every appliance through its full cycle to make sure that there are no problems.

How Many Outlets Does the House Have?

In this century, everyone knows the importance and reliance on electonics. When you do a walkthrough of a house, you may not pay mind to the…

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When you are constantly on the go, the best information is the kind you can access at the touch of your finger. You constantly read reviews and waste time on apps to see which works best. These are 10 apps that will make your real estate experience easier.

1. Evernote: Have too many business cards and want to consolidate? Brought to us by LinkedIn - Evernote allows you to transfer scans of business cards and the app will transcribe the cards into a detailed contact list. You can also send LinkedIn requests using the information provided. Perfect for networking! Originally CardMunch (which will be discontinued as of July 11).

 

2. DocuSign: "The complete solution for managing real estate transaction." You can sign documents, send documents out…

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Although it is a sellers' market, some times when selling your house in a slow real estate market isn’t easy, (some times it is hard selling in general - except at Tom Crimmins Realty) but it can be done. Pricing your home right is the key to selling it within a reasonable amount of time.

Sometimes this means lowering your price while it’s on the market. Of course, you want to get as much money as possible, so how do you know when it’s time to lower your asking price?

  1. No One Is Looking At Your Home. If you expect your home to sell, you need to have people look inside it. Most buyers search for homes within a certain price range. If you aren’t getting any showings, chances are it’s because your home is overpriced compared to other homes in the…

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Now that the title search is complete and you have your mortgage commitment signed, you are ready to set a closing date.

When setting a closing date, there are a few things to keep in mind. First off, most people decide to close at the end of the month. The reason behind this desire is due to the fact that there is prepaid interest due at closing. This means that at closing, you are required to pay the interest for the month you are closing. The prepaid interest is calculated from the date you close until the end of that month. For example, if you close on the March 14th, you will pay interest from that date until March 31st. If you close on March 30th, you will pay interest until March 31st, or only one day’s worth of interest. Closing towards the end…

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There are some unexpected problems when buying real estate.  Generally, these issues revolve around plumbing, wiring or sticking doors and windows.  Although they aren’t as expensive to fix, there’s always a possibility that they lead to bigger problems. 

Sticking Doors/Windows

Check the hinges and locks.  Spotting wear and tear on doors and windows is fairly easy. Squeaking hinges or locks that stick indicates wear on seals and metal. 

Although sticking doors and windows aren’t a big deal in and of themselves, these issues can be indications of moderate to severe foundation problems. If you find these issues in real estate, make your way to the basement and look for cracks or dips in the floors and walls. If you’re at all uneasy, have an…

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Home equity is the difference between what your home can sell for and what you owe on it. You can calculate your equity by subtracting the amount still owed on the mortgage loan(s) from the market value of your property.

Generally, the longer you own your home, the more equity you build. If you can’t make the payments, you can lose your home. This is why you have to use your home equity in smart ways.

  1. Remodel your home. If you’ve wanted to add on a family room or modernize your kitchen, consider using your home’s equity to fund the project. Home improvements usually increase your home’s marketability and value.
  2. Make major repairs where need be. Your home’s equity can be a funding source for major repairs likeplumbing problems and re-roofs.…

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Distinguishing the differences between a condo and co-op may seem confusing. According to Cheryl Lock's article, "co-ops make up about 75 percent of New York’s real estate market....However, you’ll usually have to pay up 20 percent or more for a co-op down payment, while with condos you can sometimes put down with less."

For those looking to buy or are searching for an understanding, we break it down for you.

Condo Fees:

In a condo, the owner owns the interior of the unit and a percentage of common ownership.  Common ownership is based on square footage of the interior in comparison to the entire buildings’ square footage. It is important to know that paying maintenance fees in a condo building will not give you a share or ownership of the…

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