Slowing Real Estate Market – What You Need to Know as a FSBO Seller

If you're thinking of selling your home without the help of a real estate agent, you'll need to be prepared for a bit more work. Here's what you need to know about selling in a buyer's market.

There have always been sellers who have been willing to forgo the help of a professional real estate agent to avoid the commission costs of their services. In the brisk seller’s market of recent years, FSBO (For Sale By Owner) listings could easily gain attention through a simple online listing and a yard sign (And yet they still averaged a sales price of 10% or more less than agent listed properties). As the market shifts away from this frenzy, FSBO sellers may need to reexamine their strategy.

In a buyer's market, FSBO listings need to be extra creative in order to pique buyers' interests. Platforms like Zillow and Trulia offer the ability to add videos and pictures to your listing, as well as open houses. You can also try agents who offer a limited listing on the MLS (Multiple Listing Service) for a small fee.

Most importantly, selling without an agent is more work for the seller. As the market slows, a FSBO must be prepared for a longer wait to sell their home. Additionally, with falling home prices, the longer it takes to sell your home, the more money you stand to lose. If it is a greedy seller, the seller will likely continue to receive frustrating low ball offer. It is extremely challenging to represent yourself when selling property- especially when you do not know what the heck you are doing, what the contracts really mean as far as responsibility go, and you are an easy target for agents to negotiate with.

Enjoy the phone calls from hundreds of agents trying to list your property as well! If that does not sound appealing to you, give me a call instead and let’s sell your house with a real strategy.

9 Solar Powered Products

Almost every homeowner has at least considered adding solar panels to their home to take advantage of the energy savings they promise. But reducing energy consumption with solar does not stop at solar panels on the roof. Here are 9 great products that can help you cut energy costs while adding comfort and value to your lifestyle:

1. Solar Power Bank – Charge phones and tablets at home or on the go with a solar power bank.

2. Portable Power Station – Need to power larger devices? A power station can power more devices and is attached to a small frig or laptop, can keep you connected in a blackout.

3. Security Cameras – Save money and enhance your family’s safety by deterring burglars.

4. Outdoor Wireless Speakers – Enjoy music where you want it in your backyard by going cordless.

5. Camp Lantern – Whether actually camping or for emergency use during a blackout, a solar lantern is a great way to light up the dark.

6. Attic Fan – Keep your home cooler while harnessing the power of the sun with an attic fan.

7. Animal Deterrent – Save energy and your flowers by deterring pesky critters anywhere in the yard.

8. Solar Radio – In an emergency, a solar radio keeps you connected to information. Take camping or or to the beach to add fun tunes to your outdoor experience.

9. Portable Stove – A light solar-powered stove makes the old gas camp stoves obsolete. Safer and lighter, you can cook anywhere.

While whole house solar gets all the attention, smaller solar devices also offer strong benefits without the cost or hassle. As the demand for more electricity continues, offsetting it with solar for your most common items help you and your family do your part!

6 Kitchen Remodels That Waste Money

There are plenty of great ways to save money on your kitchen remodel and still end up with a stunning, welcoming space. Here are six features you can skip to save yourself some cash.

1. Expensive Backsplashes – You can find plenty of cost-effective materials that will look just as good as more pricey options like quartz, marble, or glass.

2. Designer Appliances – Stick to brands that focus on style and function over designer labels – you'll usually be able to find the same look for half the price.

3. Trendy Hardware – It's easy to get caught up in the latest kitchen trends, but resist the urge to go for broke on fixtures that will be out of style in a few years.

4. High-Tech Gadgets – Do you really need a fridge that can make a shopping list or an oven you can turn on from the beach? Most likely, all those bells and whistles will go to waste.

5. Moving Electrical/Plumbing – If at all possible, work within the current layout of your electrical and plumbing. Relocating these sources is both expensive and difficult.

6. Open Shelving – Displays of beautiful plates and glassware may be tempting, but just remember dust and the constant upkeep.

HOA Powers and Pets

You've done your homework on the house you're looking to buy. You know the area, the schools, and you're already picturing yourself Barbecuing in the backyard on warm summer nights. There's just one last thing you need to do: Review the HOA (Homeowner's Association) documents. It's important to know what sort of restrictions the HOA might have on purchasing a home. The buyer has to ensure the rules will not interfere with their lifestyle but once they become homeowners, often these same people do not pay attention to bylaw changes over the years which can cause them to be caught off guard.

Can an HOA force a homeowner to get rid of their pet? Often they can.

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Let’s talk briefly about the Pennsylvania Agreement of Sale and the language built into the contract about Condo and Home Owner’s Associations. IN MOST CASES, The seller has 15 days to order the resale package which includes the most up to date information from the association on bylaws, the resale certificate for the specific unit, rules and regulations, and financial information for the association at large. The association is obligated to provide this packet within 10 days of receiving the request. The buyer can void the ratified Agreement of Sale up to 5 days after the receipt of these documents or the settlement of the property- whichever comes first.

So, it is unlikely you will have a chance to read through the rules and regulations prior to making an offer on the HOA or COA property. If there is a specific concern (dog breed or weight for instance), it is best to call the association directly for an immediate answer.

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Oftentimes, when an HOA forces a homeowner to get rid of their pet, it's because they are in violation of a bylaw the owner wasn’t aware of. An HOA has a duty to create and enforce restrictions to ensure the well-being and safety of the homeowners in the association. If they operate within the guidelines of federal anti-discrimination laws, HOAs have broad latitude to create their bylaws, including the complete restriction on having animals in one’s home or on HOA property.

One exception to any restriction is the ability of an owner to have a service animal. Another situation that may allow a pet in contradiction to a bylaw is a member who has already had a specific animal when the rules changed. In most cases, these animals are allowed to remain.

Most HOA communities welcome pets, but an HOA does have significant power to influence the standard of living within the community. There may be type of pet restrictions, breed or weight restrictions, limits on quantity. Those are common in the Greater Philadelphia HOA and COAs.

If you are looking at a condominium community or building, they tend to have the most restrictions so make sure your furry friend is allowed and narrow down your home search to pet friendly communities.

Careful understanding of the HOA and climate of a community will avoid painful issues and ensure a pleasant homeowning experience.

Is My House Up to Code?

Building codes adapt. If you've owned your home for a long time, you may not be aware of whether or not your home is up to code. Building code violations can vary from jurisdiction to jurisdiction, but they typically focus on safety issues that could affect the occupants of the dwelling.

Some of these safety issues may come up during a buyer’s home inspection. Depending on the importance of the issue, the seller may need to address it out of pocket or the buyers will walk and any other buyers after may not be interested in the property with the newly found defect.

Most municipalities have adopted the universal building code at this time. An up-to-code home may have features like:

· Fire escapes and exits

· Functional plumbing lines

· Construction materials that are free from hazardous chemicals like asbestos

· Well-lit areas with no tripping hazards

· An efficiently working HVAC system

Avoiding Code Violations

There are some things you can do to avoid code violations, both in an existing home and when you're considering buying a new one. Make sure to:

· Check for any permits that have been filed for work done on the home

· Test for hazardous materials like asbestos or lead

· Ventilate bathrooms well to avoid rot and mold

· Inspect electrical work carefully to ensure that all wires are grounded and that there are no DIY repairs that could be dangerous

If you are interested in knowing more about building codes where you are, first check your municipality’s website as many have a searchable building code. You can call your municipality to find out more information as well.

Unsure of whether or not you need to repair something in order to sell? Let’s discuss your situation and the best way to handle it. Call or email today!

What Stays With The Home?

More than one seller has been surprised to find that their favorite chandelier is not theirs to take when they move. First-time home sellers might be especially confused when confronted with an exclusion form presented by their agent. Understanding what is, and is not included in the sale by statute is important to avoid disappointment on both sides.

The first rule of thumb is to consider if the item is nailed down, bolted, mounted, or planted. This covers a wide range of items both inside and outside the home. This might seem simple enough, but the debate about what constitutes a “fixture” has caused many post-sales lawsuits. Fixtures will stay with the home unless specifically excluded. This includes light fixtures, shelves, cabinets, built-in shelves, and more.

Consider the mount for the big-screen TV. It might seem logical to assume the mount would go with the TV when the sellers leave, but technically it’s likely considered a fixture as it’s bolted to the wall. What about a window-mounted air conditioner? If it’s sitting in the window, it’s typically personal property, if there is a hole in the wall to accommodate it, then it’s a likely fixture.

Outdoor items are subject to the same rules. Anything planted in the yard goes with the home, as does furniture or other items bolted to the ground. In that scenario, an arbor or patio cover bolted to a concrete slab would stay. Contrary to everything just outlined, however, curtains typically go with the home.

The language in the Pennsylvania Agreement of Sale lists standard inclusions for home sales. We will review this in detail!

If you are ready to buy or sell a home, make sure and discuss with your agent what you want to add or exclude to the sale. This is the best way to avoid disappointment at best or a courtroom at worst.

7 Tips For Hiring a Contractor

Top 7 Tips for Hiring a Contractor

Regardless of whether your project is a simple bathroom remodel or a complete house renovation, the success or failure of the project will depend on the contractor you hire. Choosing the right contractor is easier than you think, but you have to do your due diligence.

• Check their License – Make sure you check their contractor’s license and that it’s in good standing. Ask and check those of the subcontractors as well.

• Insurance – Ask for proof of insurance and check that it’s still active and valid.

• Check References – Ask for references and call them. Ask to go see a project or two and ask strong questions about timing, quality, responsiveness and cost.

• Get it In Writing – Finalize the scope of work before you start anything, in writing. A proper contract should be on letterhead and include clear timelines and benchmarks, as well as payment schedules and how completion will be signed off.

• Do not Pay for Materials – If you absolutely have to pay for materials, have them delivered to your property and verify the receipt to show they were delivered in full.

• Only Pay the Contractor – Under no circumstances should you make a payment to anyone other than the contractor itself. Do not pay a person, only the company.

• Final Payment only When Satisfied – Do not make the final payment until you’re completely satisfied with the result.