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Time vs Money when Selling Your Home

by Karen Picarello

Buying or selling a home is potentially one of the most important financial decisions you can make in your life. For most people, you will be dealing with sums of money that represent a considerable financial burden. Unless you are very wealthy, you are likely to devote a large portion of your lifetime earnings to your home. When you are buying a home, it is important to choose a property that will fit your needs and budget. But when you are selling a home, you are in a different position. There are two factors you will need to consider when selling a home, and you will need to choose which one is more valuable to you.

When selling, you will need to choose to value either time or money. If you want to sell your house quickly, you will need to drop the price a bit, and potentially spend money on trying to advertise or find buyers. If you want to get as much money as is possible from the property, you will likely need to be more patient.

One thing you should always do is make sure that your sales agent is qualified and experienced. As a seller, you are unlikely to be experienced in selling properties. Most people do not buy and sell properties regularly, and so they are unable to accrue the experience necessary to properly asses their situation. Therefore, in order to understand the nuances of the real estate market and the peculiarities of the market at any given time, you will need to find an experienced and qualified realtor who can walk you through the process.

However, while you are not an expert in home sales, you are an expert on your own priorities. Ideally, the realtor can provide you with enough relevant information that you can make an educated decision about what strategy you should use when selling your property.

In my experience, unless you have considerable financial reserves, it is usually best to attempt to sell your property reasonably soon. As many people who are selling a house are also looking to buy one soon after, getting your old property sold will be an important step in securing the capital for your next property. If your capital is still tied up in the old property, you may end up facing additional fees, delays, and may even fail to close on the house you want. 

Beyond the Home

by Karen Picarello

When buying a home, some people end up looking at little more than the property, and its location in relation to important locations, such as school, work, and shopping. However, there is much more to home location than simply its geographical proximity to the places you will be visiting. One oft forgotten facet of home buying, is that you will want to be familiar with all local laws, codes, and associated regulations which might impact your life while living on the property.

For example, one local entity which might have a large impact on your enjoyment of the property might be a homeowners association. If your property falls in a neighborhood with an HOA, you should do some research on what to expect. HOA’s vary greatly, and just because you had a certain experience with one before, does not mean your experience with another will be comparable. So do some research. Talk to neighbors, and look at what you will be agreeing to if you move into the neighborhood. Some people love HOA’s, and some hate them, but few things can impact your happiness of a freshly bought home as quickly as the realization that the HOA in your neighborhood is a bad fit for you.

Similarly, there are other considerations involved. Local laws will need to be observed. This can be a larger or smaller deal, depending on where you are coming from. If you are moving internationally to a vastly different country, you can expect local laws and regulations to be much different from what you are accustomed to. Again, doing research and ensuring that you will be able to follow these regulations without conflict will be key in helping make your move pleasant. This continues up to the state level. How will the taxes in the area affect your lifestyle? When moving place to place, failing to take into account changes such as these can cause people to undergo unexpected financial hardship.

A final thing to note is that you will want to fit in with your community. I mentioned earlier that you should talk to your neighbors to get a good idea on how the neighborhood will fit with you. Show up at random hours, and watch the activity. Talk with people as they go about. Taking the time to really scout out a potential property is much much more than simply looking at the property itself. 

How A Seller's Agent Helps Sell your Home

by Karen Picarello

If you have ever gone through a home sale, you have nearly certainly been represented by or worked with a real estate agent. When conducting a transaction as massive as that of a home, employing a professional to guide you through the process is always a good idea. But, those unfamiliar with homes sales often have misconceptions about how much a real estate agent actually does during the sale process. Here are a few of the things that real estate agents will do to help make sure that your home sells.

  1. Make your House Appealing. One of the things that an agent will do is focus on getting the best possible price for your home. Their financial responsibility will be to get the best possible price in the shortest time frame possible. The more money you make on the sale, they better they will do, because most real estate agents work on a percent based commission. Therefore, understanding the difference between the different strategies used to make a house attractive, and deciding which to use in this particular case will be very helpful in selling your property. From strategy, to furniture and décor, outdoor landscaping, and other preparatory processes, figuring out how to make your home as appealing as possible is best done by an expert.
  2. Advertise the listing. One of the major duties of a real estate agent is ensuring that potential buyers are exposed to the property. You might have a gorgeous property at a good price, but if no buyers understand that it is on the market, you will never sell. The more people you can have looking at the property, the more people there will be giving offers and potentially driving up your sale price. More advertising means a faster, better sale.
  3. Take care of red tape and paperwork. The sale of a home involves filling out a lot of paperwork, and following local and federal rules for the transaction. This is an area where if you are not experienced, you might stumble in your attempt to get everything done correctly and in a timely manner. Having a professional who is familiar with the process helping you can be the difference between it being a fairly easy and painless process, and a long protracted procedure with many setbacks and problems which persist later on and potentially years after the sale. 

How A Buyer's Agent can Help You

by Karen Picarello

While negotiating any real estate transaction, whether it be your first home purchase, or one of many, you can nearly always benefit from the services of a real estate agent to help you purchase your property. There are a myriad of different areas where you may find yourself impeded or ineffective if you are attempting to navigate a purchase on your own, and while you may manage to get it done, you will rarely end up with the best deal. Here are 4 reasons you should consider hiring a buyers agent to help you with your real estate transaction.

  1. Buyers agents have connections. When you are purchasing a house, you will need to go through many extra steps compared to most transactions we make. There will be regulations, mortgage brokers, inspectors, lawyers, and a litany of other concerns which may or may not need to be dealt with. If you rely on the sellers agent to make these recommendations, you need to remember that their financial duty is to their customer, the seller of the house. While there are regulations to try and discourage any unethical practices, its always best to have someone who represents your interests involved in the process.
  2. Buyers agents will have a great knowledge of properties. Have you ever dealt with a salesman who gave you a very pleasant experience? Where they accurately described the pros and cons of different choices, estimated financial impacts accurately, and overall was incredibly honest and informative? If you can hire someone to help you find a property, their interest will be in doing the best job they can keeping you informed and happy. Because they are not stuck selling a specific product but instead are simply advising and guiding, they will be on your side.
  3. Similarly, they will be able to help you find properties which fit your dream criteria. You should be able to sit down with your agent and discuss what you are looking for. With their knowledge of the market, they will be able to make recommendations based on what fits with your goals, and what is a good deal.
  4. Finally, a buyers agent can work to mitigate any unforeseen circumstances which might appear. Should any difficulties arise, their experience will allow you to deal with them quickly, with as little stress as is possible for the situation. 

Displaying blog entries 1-4 of 4

Contact Information

Photo of Team Picarello Real Estate
Team Picarello
RE/MAX Fine Properties North Scottsdale
21000 N. Pima Road, Suite 100
Scottsdale AZ 85255
Office: (480)860-8733
888-548-8713
Fax: (480)860-8755