Home Appraisals

There are many steps along the process of buying a home.  If you are financing your home purchase an appraisal is one of those steps.  An appraiser is hired by the lender to independently verify the value of the home you are looking to purchase.  The lender wants to insure that the money they will be lending is justified based on the condition of the home and recent sales in the area.

If you want to learn more about this process check out these links from Realtor.com and QuickenLoans.

Dear Seller: 1 "The List"

As a full time Realtor working with sellers and buyers in Burlington County NJ, naturally, I spend a lot of time going through all types of homes.  I see the good, the bad, the unusual, the what were they thinking, but the worst thing to see (or smell) is the dirty. Dirty is really hard for most buyers to overcome mentally when thinking about buying a home. First there is the gross factor, then the questiions about what else wasn't maintined in the home that creep into their minds.

I don't mean the forgot to make the bed that day dirty. No, I mean things like this.

That's a bunch of squished dead bugs at the front door. That should not ever be the first impression a buyer gets when walking into your home. Not Ever.

This is common sense right? I wish it were that easy.  So, when I am meeting with a new seller to discuss the value of their home in the current market, what buyers in their area are looking for, and ways they can improve the appearance of their home before listing it for sale, I leave them with "The List". The List is all the things that will help sell your home faster for more money specifically for your home.

I walk through your home as if I am going through with a buyer who is seeing it for the first time. What things will they see that are opportunities to WOW or disappoint?  Things that maybe you thought about when you first moved in, but have learned to live with over the years.  Things you may not even see, or things that you personally like but won't have appeal to most other people.  It will also include items that need to be deep cleaned that you probably intended to do but forgot about.

In reality, the owner of this home might use the side door and not know this is how the front door looks. But when you sell your home, that doesn't matter.  When you sell your home, the front door is where most buyers are going to walk through and this is what they'll see. Everything else in the home will be viewed through the mental lens of this first impression.

If you're thinking about selling your home let's talk.  I'll give you The List for your home so you don't miss opportunities to WOW potential buyers, and avoid becoming "The Dead Bug House" in their minds.

Bordentown City

I work as a Realtor in all areas of Burlington and Mercer county.  But I call "The little city with a lot of charm", Bordentown City home.  City living might not be for everyone, but here is my personal top 10 things I love about living in Bordentown city.

10. The celebrations - Iris festival, Cranberry festival, The Green Fair, Downtown Festival, Bordentown Tradition car show and the Halloween Parade & celebration at Thompson Street.  We know how to celebrate in this town.

9. Restaurants - I love being able to walk a few blocks and get a great meal in town.  From a sandwich at The Corner Deli, to dining al fresco at Jester's, The Vault or Marcello's, and fine dining at Oliver's  - there is always a great place to go.

8. History.  Take a walk around the city and you will see American history at what seems to literally be every corner.  Being established in 1682, we've had a fair share of history. Thomas Paine, Clara Barton, Patience Wright, Joseph Bonaparte, and more all tie back to this city, want to know more? Check this article recently published in NJ.com

7. The weekly Farmer's Market.  If being located a few minutes from several Community Supported Agriculture farms hasn't got you thinking about eating local.  Every Wednesday starting in June a Farmer's market sets up at The Carlslake Community Center making it even easier to eat fresh while supporting your area farmers.

6. Tremendous diversity in the types of homes available.  While taking a walk the other evening, I could not help but comment on the amazing different home styles you can find in just a few short blocks.  Grand old Victorian homes, row homes, 200+ year old twin homes, condos and new construction are all on my evening dog walking route. Homes of all different size, style and price range can be found and this contributes to the diversity of people in the area too.

5. Many people walk their children to the elementary school. Bordentown city is part of the larger Bordentown Regional School district.  Both the Clara Barton Elementary school (K-3) and the MacFarland Intermediary School (4-5) are located within the city limits.  Between 8:15-8:30 AM during the school year you see many parents, myself included, walking their child to school. There is something blissfully old fashioned about walking to school in this fast paced modern age.

4. We have a beach and yacht club.  It may not be a sand bring your blanket and lay out kind of beach, but there is a new picnic area, a boat launch and a genuine dock & marina at the yacht club.  For the land-lubbers, it's a lovely place to walk around and watch the boats, too.

3. We have good beer. The Farnsworth House and The HOB both have a selection of craft beers on rotation. You can also get a really cool looking growler from the HOB for enjoying a fresh craft beer at home.

2. I can get everything done on foot.  I can walk to the bank, library, drug store, post office, and train station. Walk-ability and not having to rely on my car was a huge factor in me falling for Bordentown.  While I may not always walk to do my errands I like knowing that it is an option.

1. The best is yet to come.  Our city slogan is a little city with a lot of charm.  After living here I can testify that it is true. Right now, there are a lot of things going on to improve our town.  From new housing developments, to the shade tree commission, to the restoration of Old City Hall.  There are still tons of opportunities for more businesses to come into the city, for more homes to be restored.

It was hard to keep the list to just 10 items.  Friends and neighbors feel free to share some of the things you love about living in Bordentown.

I'll be ready in about a year

  In speaking with a lot of would be first time buyers I hear the phrase “I think I’ll be ready in about a year”. 

OK that is fine.  I am not in a rush, and I think it works best when you aren’t either.  A year gives you time to plan.  During that time, you may be able to increase your savings and reduce some debt thus improving your credit score and your buying power.  For more information on savings, credit scores & home buying check this article.  

You can also use the time to learn about different areas. There are a lot of small towns, historic districts and parts of town that vary greatly from one another.  Getting to know them will help you zero in on what is best for you when you are ready to buy.  Even each of the newer home developments has different characteristics and amenities.  Knowing what really appeals to you or is a deal breaker will be helpful when you begin the hunt for the dream home.  Talk with your Realtor (hopefully me) about different areas, give them feedback & ask for suggestions.  Drive neighborhoods at different times of the day to see what traffic looks like at 10 AM or at 5:30 PM. 

Also, use this time to familiarize yourself with different types of mortgage programs and what the terms mean.  Understanding what it means to pay points, PMI, and what an ARM is can help you understand the best financial tools for your situation.  If you are a moderate income earner you can also look into qualifying & applying for any of the free money programs that I talk about here in an earlier post. 

Twelve months will go by quickly.  Becoming a more educated consumer can bring you lasting benefits with your home search.  After all, buying a home is a big step.  Being able to step into this endeavor with confidence knowing what you want and can afford will reap great rewards. 

Check back for more articles on home buying.  Can't wait? ... check this top 10 list of mistakes first-time home buyers make from SmartMoney.  

Free Money

If you are a first time home buyer with moderate to low income, there are "free" money programs that you may qualify for.  The money can be used to help pay for closing costs and part of your down payment. In 2014, qualified applicants can get as much as $7000 in Mercer County and as much as $9000 in Burlington County.

What's the catch you say?

You must meet the income guidelines set by the county, the home you are purchasing must become your primary residence, and you must live in the home for a specified period of time or you will need to pay back the money.  More information on the programs & eligibility requirements can be found here for Burlington County and Mercer County.

I've worked with buyers who have successfully used these programs, and they can be tremendously helpful. It can take some time, but for those who qualify it can be a great tool towards home ownership.  

Dear 1st time buyer

Buying a home is a huge milestone in your life, and as a Realtor, I get a lot of satisfaction in being able to help someone purchase their first home. I enjoy working with first-time homebuyers and going through the process. Here are some tips I have for those new to the home buying experience…

Work with a Realtor

You need a team player you are comfortable being honest with.  I'll never try to push a client into a home or a decision they are not ready to make. However, getting honest feedback from my clients is essential.  I can't know that you want a home facing East if you don't tell me, or that you really need space for your collection of comic books.  Be honest and upfront with your Realtor not only what you really need (and want) in a home and also about your financial situation.  Talking about your finances is a little like undressing at the Dr.'s office.  Awkward.  I get it.  But, necessary. And, relax, I've seen it all before. Whether you have saved diligently for years and have a sizable down payment, received gift money from a generous relative, or you've got little down payment and are trying to buy a home by the skin of your teeth... as your Realtor I am your partner in this entire endeavor.   Better to talk about it up front and work with solutions that fit your budget and lifestyle.

Find a Reputable Lender 

The internet can be a wonderful source of information and a great place to begin any search, but it should not be the sole source of information.  You probably wouldn't buy a car without driving it, or even shoes without trying them on.  There is so much more to a lender than an advertisement for a low rate.  Talk to others, including your Realtor, to get recommendations.  Most people go through the process of obtaining a mortgage a handful of times in their entire lifetime.  Realtors are typically (and hopefully) juggling 5-10 transactions or more at any given moment.  We see not only who offers competitive rates, but also who has the best customer service and who comes up with solutions when there are bumps in the road.

Use Professional Services

Whether it’s a real estate attorney, appraiser or home inspector, you want to know your transaction is being handled by professionals in their field. People who are trained to read the mountain of documents and hunt for errors or climb out a tiny window onto the roof to inspect for damage. Even though it is an added expense, it is worth the piece of mind you will gain in knowing your mortgage paperwork was handled properly and your dream house does not have termite damage or an underground oil tank.

Buying a home is probably the biggest purchase you will ever make.  Once you've found the right home, your Realtor will be command central and coordinator for every additional piece of the transaction.  Build your team on trust.

4 Reasons to Buy a Home in the Winter

Are you thinking about buying a home?

Most people buy homes in the spring or summer. The weather is nice, you can move in between school years, and the market is typically flooded with new listings. However, if you’re interested in saving money both short-term and long-term, it may not be a bad idea to start looking now.

Here are four reasons why you should consider buying a home in the off-season:

1. Less competition from other buyers

While there are generally fewer homes on the market in the off-season, you can relax a bit and carefully consider all of your options without fearing that someone else will make an offer first or that you'll be in a dreaded bidding war.  This can not only help you save money by avoiding a multiple offer situation, but also by carefully considering your options you can make a better decision rather than a rushed emotional one.   

2. More negotiating 

People who have had their house on the market since the spring or summer without an offer are going to start getting antsy – meaning they’re more likely to compromise on the price, or the terms of the contract.  If you want to include any of the "negotiable" items like a patio set, appliance, or light fixture that you fell in love with when you saw the home, the seller's may be more agreeable in winter and happy to get an offer, because they know fewer buyers are looking this time of year.  

3. Quicker Closing

Eager to move into your house after making an offer?  It's the quiet season for everyone involved including the realtors, inspectors, appraisers, lenders, attorneys, etc. and scheduling & processing all of the items required to close on your home should be faster. Regardless, you still want to stay in regular communication with your lender to keep everything on track.  Choosing a Realtor (like me) who will coordinate all of the inspections, deadlines & transactions and keep you informed is a smart idea too.  

4. Fewer Immediate Maintenance Costs

If you buy a house in the spring or summer, you’re going to have to worry about mowing the lawn, raking/blowing leaves, trimming trees/bushes, and cleaning the gutters shortly after buying the house. Most homeowners are not eager to do these things immediately after dropping a 20% down payment and closing costs. If you buy in the winter, the only thing you’ll need to worry about right away is shoveling. You’ll also have plenty of time to think about starting a vegetable garden, which should be planted between late April and early June.

Current homeowners: When did you buy your first home? If you could do it all over, would you have timed the process differently? Why or why not?