Come take a look this Sunday!
http://sonia.c21-email.com/
Sonia
Friday, April 25, 2014
OPEN HOUSE - 352 HIGHLANDS DRIVE!!!
Looking for a home in Williston with fanstastic views of Lake Champlain and of the Adirondacks? This wonderful home is situated on over 2 acres, with sweeping views of the Champlain valley, yet only a few minutes from the Interstate. The kitchen has been completely remodeled and is a chef's dream!
Come take a look this Sunday!
http://sonia.c21-email.com/
Sonia
Come take a look this Sunday!
http://sonia.c21-email.com/
Sonia
Monday, March 31, 2014
JUST SOLD!
This beautiful home now has new owners!
I have to say, the closing on Friday was so enjoyable. The sellers were happy, and are excited to be able to move onto their next home. And, above all, they are very happy that the buyers were such lovely people! Hopefully, the buyers enjoy the home just as much as the previous owners have for the past 17 years! :)
I have to say, the closing on Friday was so enjoyable. The sellers were happy, and are excited to be able to move onto their next home. And, above all, they are very happy that the buyers were such lovely people! Hopefully, the buyers enjoy the home just as much as the previous owners have for the past 17 years! :)
Monday, February 3, 2014
Homestead Declaration and Property Tax Adjustment Claim
Get a prebate on your property taxes!!!
This HS-122 form must be filed each year by all VT residents who own and occupy a VT homestead on April 1st even if a claim for property tax adjustment is not made. The property tax is adjusted for all households with income of less than approximately $105,000. In addition to the HS-122 form, if you are claiming for a Tax Adjustment, please also fill out the Household Income Schedule HI-144.
If this form is filed late, the Town of Williston will apply a late fee.
For any additional information, please talk to your accountant, or contact me.
For those not applying for a tax adjustment:
HS-122 form
For those applying for a tax adjustment:
HS-122 and HI-144 forms
This HS-122 form must be filed each year by all VT residents who own and occupy a VT homestead on April 1st even if a claim for property tax adjustment is not made. The property tax is adjusted for all households with income of less than approximately $105,000. In addition to the HS-122 form, if you are claiming for a Tax Adjustment, please also fill out the Household Income Schedule HI-144.
If this form is filed late, the Town of Williston will apply a late fee.
For any additional information, please talk to your accountant, or contact me.
For those not applying for a tax adjustment:
HS-122 form
For those applying for a tax adjustment:
HS-122 and HI-144 forms
Friday, January 24, 2014
Biggest Home Seller Mistakes
I came across a very interesting graphic yesterday and wanted to share it with you. The survey asked 1000 real estate agents what they thought was Sellers' biggest mistakes when putting their house on the market and subsequently not achieving either their monetary or timescale goals.
Here are the results:
Not surprisingly, the top reason is overpricing the house. Of course, I am sure that isn't a surprise to anyone. Even though each home is unique - that's the nature of the business - the asking price must be based on facts only. A good way of understanding that is putting yourself in the buyer's shoes. Look at what is on the market at the time - if you were to visit 4-5 houses in the same ballpark price and size as yours, is yours the highest priced? If it is, then you need to objectively compare it with the others and price it competitively so that buyers are compelled to consider it. The first month on the market is by far the most critical - a common mistake is to overprice the house at first, and planning to lower the price after a month on the market in hopes of getting an offer at the higher end at the beginning but then lowering the price if there isn't any offers after a set time. The problem is that buyers tend to stay away from houses that have been sitting on the market for too long. Even if there is nothing wrong with it, they will tell themselves that there must be something wrong with the house if it is still in on the market. Strike while the iron it hot - pricing your house competitively right from the get go is the best strategy for getting it sold faster and for a fair price!
The second most popular answer is showing availability. Although I have rarely come across this issue personally, having worked with very accommodating sellers so far, I have had personal experience with this while shopping for our home. There is one home that we could just not come to an agreement as to when to see it. The tenants were moving out and even though we insisted that it didn't matter that it would be in disarray, the owners told us that we had to wait a couple of weeks before seeing it. We just couldn't wait that long since we had already seem another house that interested us and couldn't wait 2 weeks before putting in an offer. I think about that house everytime I drive by it and wonder if we would have bought that one instead! We might have - but because we didn't get a chance to see it, it fell be the wayside. Don't be that seller!!! Most showings only take 15-20 minutes - what a great time to go for a walk, or get some errands done. Just try to be as accommodating as possible. It is inconvenient for you, but it could transpire into a faster sale!
The third most popular answer is cluttered space. I have talked about this in an earlier blog entry. It is quite extraordinary just how much you can accumulate over the years. Who doesn't have boxes full of school textbooks, old clothing and sports gear laying around in a closet or in their basement? I always tell my sellers that decluttering before putting their house on the market is a great way to start their packing by sorting through all their stuff and making decisions about what to give away and what to keep. In some cases, renting out a storage unit is a great way of decluttering your living space and getting a head start on your packing. A neat trick that I use is taking a photo of the space as is and showing it to the sellers. It is amazing how your eyes immediately see the clutter instead of the room. Clear all countertops, tables and desks, and remove all fridge magnets, and you will be amazed at how much roomier your house looks.
The next three reasons: unpleasant odors, unwillingness to negotiate and needed repairs are usually not deal breakers unless they are substantial. There is always room to negotiate - if not monetary, then in the form of real property or timeline. Buyers and sellers need to think outside the box when it comes to negotiating - what does the other side want and what can I get in return if I accommodate him or her? Needed repairs can also seem daunting to potential buyers. What if they really like the house, but it really needs a new kitchen or a new roof and they don't have the funds to do the work? With some great renovation loans available, some of these stumbling blocks can now be eliminated by including the cost of the repairs into the mortgage loan. Unpleasant odors, be it tobacco smells or pet smells can really turn off buyers. The sense of smell is almost as important as sight when shopping for a house. It is really hard for a buyer to "see" past certain smells, and I have seen buyers walk away from houses without even looking at them because of foul smells. Sellers must be aware of this and take necessary action to deal with unwanted smells. There are some great products out there which neutralize (not cover!) smells, and that, along with a good cleaning, usually does the trick.
Have you had experience any of the above? I would love to hear your story!
Here are the results:
Not surprisingly, the top reason is overpricing the house. Of course, I am sure that isn't a surprise to anyone. Even though each home is unique - that's the nature of the business - the asking price must be based on facts only. A good way of understanding that is putting yourself in the buyer's shoes. Look at what is on the market at the time - if you were to visit 4-5 houses in the same ballpark price and size as yours, is yours the highest priced? If it is, then you need to objectively compare it with the others and price it competitively so that buyers are compelled to consider it. The first month on the market is by far the most critical - a common mistake is to overprice the house at first, and planning to lower the price after a month on the market in hopes of getting an offer at the higher end at the beginning but then lowering the price if there isn't any offers after a set time. The problem is that buyers tend to stay away from houses that have been sitting on the market for too long. Even if there is nothing wrong with it, they will tell themselves that there must be something wrong with the house if it is still in on the market. Strike while the iron it hot - pricing your house competitively right from the get go is the best strategy for getting it sold faster and for a fair price!
The second most popular answer is showing availability. Although I have rarely come across this issue personally, having worked with very accommodating sellers so far, I have had personal experience with this while shopping for our home. There is one home that we could just not come to an agreement as to when to see it. The tenants were moving out and even though we insisted that it didn't matter that it would be in disarray, the owners told us that we had to wait a couple of weeks before seeing it. We just couldn't wait that long since we had already seem another house that interested us and couldn't wait 2 weeks before putting in an offer. I think about that house everytime I drive by it and wonder if we would have bought that one instead! We might have - but because we didn't get a chance to see it, it fell be the wayside. Don't be that seller!!! Most showings only take 15-20 minutes - what a great time to go for a walk, or get some errands done. Just try to be as accommodating as possible. It is inconvenient for you, but it could transpire into a faster sale!
The third most popular answer is cluttered space. I have talked about this in an earlier blog entry. It is quite extraordinary just how much you can accumulate over the years. Who doesn't have boxes full of school textbooks, old clothing and sports gear laying around in a closet or in their basement? I always tell my sellers that decluttering before putting their house on the market is a great way to start their packing by sorting through all their stuff and making decisions about what to give away and what to keep. In some cases, renting out a storage unit is a great way of decluttering your living space and getting a head start on your packing. A neat trick that I use is taking a photo of the space as is and showing it to the sellers. It is amazing how your eyes immediately see the clutter instead of the room. Clear all countertops, tables and desks, and remove all fridge magnets, and you will be amazed at how much roomier your house looks.
The next three reasons: unpleasant odors, unwillingness to negotiate and needed repairs are usually not deal breakers unless they are substantial. There is always room to negotiate - if not monetary, then in the form of real property or timeline. Buyers and sellers need to think outside the box when it comes to negotiating - what does the other side want and what can I get in return if I accommodate him or her? Needed repairs can also seem daunting to potential buyers. What if they really like the house, but it really needs a new kitchen or a new roof and they don't have the funds to do the work? With some great renovation loans available, some of these stumbling blocks can now be eliminated by including the cost of the repairs into the mortgage loan. Unpleasant odors, be it tobacco smells or pet smells can really turn off buyers. The sense of smell is almost as important as sight when shopping for a house. It is really hard for a buyer to "see" past certain smells, and I have seen buyers walk away from houses without even looking at them because of foul smells. Sellers must be aware of this and take necessary action to deal with unwanted smells. There are some great products out there which neutralize (not cover!) smells, and that, along with a good cleaning, usually does the trick.
Have you had experience any of the above? I would love to hear your story!
Tuesday, January 14, 2014
Top 5 Entry-Level Home Sales in Dec 2013
Hi!
I am starting a monthly series focused on identifying the top 5 entry-level homes that sold in the last month in the greater Burlington area. Why do these make it in my top 5? I am using the following criteria while judging the sales:
1) price point. I am considering anything below 220,000$
2) state of the house. Is it move-in ready? How much work needs to be done. Many first time buyers have already used their cash in order to make a down-payment and to cover closing costs. For many, they cannot afford to start pouring more money into expensive house removations.
3) neighborhood. Granted, this is a little bit more subjective, but I am evaluating ease of commute, and traffic volume.
4) re-saleability. For many, this first investment is not for the long term. How easy will it be to sell in 5-10 years?
So, without further ado, here are my top 5 for December 2013.
I am starting a monthly series focused on identifying the top 5 entry-level homes that sold in the last month in the greater Burlington area. Why do these make it in my top 5? I am using the following criteria while judging the sales:
1) price point. I am considering anything below 220,000$
2) state of the house. Is it move-in ready? How much work needs to be done. Many first time buyers have already used their cash in order to make a down-payment and to cover closing costs. For many, they cannot afford to start pouring more money into expensive house removations.
3) neighborhood. Granted, this is a little bit more subjective, but I am evaluating ease of commute, and traffic volume.
4) re-saleability. For many, this first investment is not for the long term. How easy will it be to sell in 5-10 years?
So, without further ado, here are my top 5 for December 2013.
123 Birch St, Burlington.
This makes my top 5 not only because it was sold for under 175k$, but also because of the great hardwood floors throughout the ranch and that is was built in 1991, making it post lead-paint, and less than 25 years old. The downside is that there is no garage.
12 Cherokee, Essex
Sold for 182,000$. This is situated in a great neighborhood, on a quiet street. Could be a great starter home, but also could be something longer term, as there are many expansions possible when dealing with a cape.
47 South Summit, Essex
Another Essex home! Sold for 185,000$. Finally, a garage! Which, in these cold climates is a definite plus both for the owner and for when you want to resell the house. Again, as with most ranches build in the 1950s, beautiful hardwood floors are found throughout the house. Bonus is updated kitchen and bathroom.
40 Lincoln, Essex
For something a little older style, here is a 1900 farmhouse which sold for just under 200k$. Also has a 2-car garage, which makes up for the smaller village lot. Many updates throughout the house. The downside of this one is that it is a 2 bedroom, which can make it a little more challenging to sell.
30 Brookwood Dr, South Burlington.
3 bedroom colonial with attached garage for 212k$. It is situated on a quiet street, on a big lot. The only downside is that it backs up to the interstate.
And that ends my top 5 of December 2013! What do you look for when house shopping? What are your top 5 criteria?
Tuesday, December 10, 2013
Mortgage Do's and Don'ts
Here is a statistic that may shock you: almost 30% of homes purchased are cash deals. Higher than you thought, right?
However, for the rest of the buyers, securing a mortgage is the most popular way to achieve home ownership. Here are some do's and don'ts when it comes to a mortgage.
Do:
Pay your bills on time and cut down on any debt. Credit scores are crucial. Your credit score will determine if you are able to get a loan and your interest rate. Many loan officers now have the tools to evaluate exactly what you can do to improve your credit score in real time!
Save now for a down payment. It's no secret that the more you are able to put down, the less you have to borrow. However, it is important to note that it may make more sense to pay off high interest debt first. In other words, pay off your credit card debt and settle for less of a down payment because your mortgage interest rate should be less on the property loan.
Shop lenders. Compare interest rates and closing costs, such as application fees and appraisals. Learn about the different types of mortgages before meeting with lenders. You would always get a second opinion when shopping for a car, right? Do the same with your mortgage!
Don't:
Don't make any large purchases or career changes right before the closing.
Your lender will recheck your employment status and credit profile again shortly before the closing. If they are not satisfied, they can pull the plug just when you are about to close on the house of your dreams.
Get pre-approved for a mortgage, not just pre-qualified. This will expedite the home buying process and give you negotiating strength and credibility. Sellers will sometimes accept lower offers from qualified buyers, who can show they can close the deal.
Don't get in over your head. Borrow what you can afford, not what the lender is willing to lend. Scrutinize your budget and factor in property taxes, utilities and maintenance. For condominiums and planned unit developments (PUDs), do not forget to factor in the monthly association fees!
It seems daunting at first to find out exactly how much you can afford. What if it isn't as much as you thought? I believe that the sooner you know, the better. If your credit score isn't where it should be, you are now in a position to do something about it. Take charge of your finances!
Please contact me if you would like more details on mortgages or on any other real estate related subject! If I don't know the answer, I will strive to find someone who can!
However, for the rest of the buyers, securing a mortgage is the most popular way to achieve home ownership. Here are some do's and don'ts when it comes to a mortgage.
Do:
Pay your bills on time and cut down on any debt. Credit scores are crucial. Your credit score will determine if you are able to get a loan and your interest rate. Many loan officers now have the tools to evaluate exactly what you can do to improve your credit score in real time!
Save now for a down payment. It's no secret that the more you are able to put down, the less you have to borrow. However, it is important to note that it may make more sense to pay off high interest debt first. In other words, pay off your credit card debt and settle for less of a down payment because your mortgage interest rate should be less on the property loan.
Shop lenders. Compare interest rates and closing costs, such as application fees and appraisals. Learn about the different types of mortgages before meeting with lenders. You would always get a second opinion when shopping for a car, right? Do the same with your mortgage!
Don't:
Don't make any large purchases or career changes right before the closing.
Your lender will recheck your employment status and credit profile again shortly before the closing. If they are not satisfied, they can pull the plug just when you are about to close on the house of your dreams.
Get pre-approved for a mortgage, not just pre-qualified. This will expedite the home buying process and give you negotiating strength and credibility. Sellers will sometimes accept lower offers from qualified buyers, who can show they can close the deal.
Don't get in over your head. Borrow what you can afford, not what the lender is willing to lend. Scrutinize your budget and factor in property taxes, utilities and maintenance. For condominiums and planned unit developments (PUDs), do not forget to factor in the monthly association fees!
It seems daunting at first to find out exactly how much you can afford. What if it isn't as much as you thought? I believe that the sooner you know, the better. If your credit score isn't where it should be, you are now in a position to do something about it. Take charge of your finances!
Please contact me if you would like more details on mortgages or on any other real estate related subject! If I don't know the answer, I will strive to find someone who can!
Wednesday, December 4, 2013
Negotiating Your Way Into Your Dream Home
You could be looking to buy your first home, or maybe downsizing after retirement. Regardless of the circumstances, you of course want to be able to negotiate the best possible price for your new home.
The first crucial step of negotiating for homebuyers is getting pre-approved. Not only does it make sense to sit with your lender in order to have an idea of what you can afford, it also turns you into a cash buyer in the seller's eyes. It doesn't feel like you are negotiating, but you really are in a passive way. For example, if you are putting in an offer on a property in a multiple offer situation, even if your offer is slightly less than the competitors, you can see how a solid pre-approval can sway the sellers into accepting your offer instead of a competitor's offer which does not include a pre-approval.
Getting a pre-approval also saves time and can speed up the financing, which can bring forward the closing date and that is usually very appealing to a seller.
Before making an offer, do your homework! Work with a Realtor, who will be able to establish how much a property is worth. Your Realtor will be able to research comparables, the neighborhood and the market, all of which will help you make a realistic offer. If you come to negotiations with facts to back up your offer, the seller may be more willing to meet your price.
A listing agent will not be able to disclose the motivation or bottom line of the sellers. However, do your due diligence to find out as much as you can. Speak to neighbors. Is the property vacant? It might be that the owners are anxious to sell in order to make their next move.
The attitude you bring at the beginning of the process makes a lasting impression. If you go into it with a positive and win-win attitude, then if required, any negotiations needed further down the line will be much easier with both parties being receptive. Using facts instead of feelings also helps defuse a difficult negotiation. Sellers are emotionally invested into their house. Backing up your offer with facts (for instance, a general quote for repairing broken tiles, or a leaky chimney) shows that you are a serious buyer and will help avoid hurt feelings and resentment, which can lead to deals turning sour. And ultimately getting you in your dream home!
Do you have any negotiation tricks? Do you enjoy negotiating?
The first crucial step of negotiating for homebuyers is getting pre-approved. Not only does it make sense to sit with your lender in order to have an idea of what you can afford, it also turns you into a cash buyer in the seller's eyes. It doesn't feel like you are negotiating, but you really are in a passive way. For example, if you are putting in an offer on a property in a multiple offer situation, even if your offer is slightly less than the competitors, you can see how a solid pre-approval can sway the sellers into accepting your offer instead of a competitor's offer which does not include a pre-approval.
Getting a pre-approval also saves time and can speed up the financing, which can bring forward the closing date and that is usually very appealing to a seller.
Before making an offer, do your homework! Work with a Realtor, who will be able to establish how much a property is worth. Your Realtor will be able to research comparables, the neighborhood and the market, all of which will help you make a realistic offer. If you come to negotiations with facts to back up your offer, the seller may be more willing to meet your price.
A listing agent will not be able to disclose the motivation or bottom line of the sellers. However, do your due diligence to find out as much as you can. Speak to neighbors. Is the property vacant? It might be that the owners are anxious to sell in order to make their next move.
The attitude you bring at the beginning of the process makes a lasting impression. If you go into it with a positive and win-win attitude, then if required, any negotiations needed further down the line will be much easier with both parties being receptive. Using facts instead of feelings also helps defuse a difficult negotiation. Sellers are emotionally invested into their house. Backing up your offer with facts (for instance, a general quote for repairing broken tiles, or a leaky chimney) shows that you are a serious buyer and will help avoid hurt feelings and resentment, which can lead to deals turning sour. And ultimately getting you in your dream home!
Do you have any negotiation tricks? Do you enjoy negotiating?
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