How to Write an Offer

You've met with a Realtor, you've viewed the best homes on the market, and you found the one. Now you have to write a great offer to entice the seller to work with you. In a buyer's market, you may have more flexibility, and in a seller's market, the sellers have the advantage. A combination of low inventory and high demand means well-priced homes in the area sell fast, so you have to be extra careful when submitting your offer. Your local Realtor will be sure to guide you, and this post will help you understand all the moving parts.

Price
Of course one of the most important factors to whether or not the seller will want to work with you is the price you offer on their home. It is crucial to consult your local Realtor on this. You hired her to be the expert, so listen to her advice. She will know if the listed price is fair, or if the home is overpriced. This will help you avoid giving a lowball offer, which may offend the seller and cause you to lose the home you love.

Earnest Money Deposit
As part of the real estate contract, you are asked to give consideration (i.e. a monetary deposit) with your formal written offer. Generally speaking, this amounts to 1-3% of the sale price of the home. If you are in a competitive situation and you can afford it, your agent may recommend offering a higher earnest money deposit, or EMD, to show the seller that you are all in and will work with them towards a mutually agreeable settlement.

Contingencies
There are several contingencies that may become a part of a real estate contract. The most common contingencies are financing, appraisal, and home inspection. Depending on the location of your home, you may need or want additional inspections such as well and septic. A radon test may need to be included. Your financing (or cash offer) may result in a different type of contingency as well. Your local Realtor will advise you on which ones you will need to include in your offer and the best way to present them to the seller. 

Timelines
Just as you have a date in mind by which you want or need to move, the seller is probably in the same boat. Merging schedules can be tricky, so make sure your local Realtor contacts the seller so that you can smooth over the detail of the settlement date early on in negotiations. Other timelines will need to be assigned to each contingency, and your local Realtor will be sure to advise you on what is best.

Are you buying or selling a home in Cincinnati or Northern Kentucky this year? Contact Greater Cincy Homes today to get started.

5 Unusual Items to Advertise When Selling Your Home

The great thing about homes are that every single one is unique. When you prepare to sell your home, the best things to focus on are the standout features of your individual residence. Of course buyers want to know about the kitchen, bathrooms, and outdoor spaces at a minimum, but there are some less obvious items that should not be overlooked when advertising your home to sell. See if your home boasts any of these 5 items, and shout it from the rooftop... or at least get it in the property description.

Storage
Everyone has stuff, and everyone needs places to put it. If you have large closets, built-in bookshelves, a pantry, or even an unfinished room in the basement, don't be shy about it. Buyers want to know that they can bring their collection of antique figurines or their massive library or whatever else is important to them. Plus, they want to make sure they can store their clothes and kitchen items with ease. Storage is a huge asset for any buyer.

Amenities
Does your neighborhood have a pool? A playground? A clubhouse? Walking trails? If you are nearby to any community amenities, let buyers know. Convenience can be a big motivator for buyers to make a move, especially if there are multiple homes in the same price range in your area. If you don't live in a neighborhood with a ton of amenities, think about other features of your location. Proximity to major roads, shopping, schools, and entertainment are all worth mentioning.

FlexibilityMany buyers look to stay in their home for several years and through multiple stages of life. Just because they are a young couple starting out doesn't mean they will stay just two. Buyers look for homes that have potential to grow and change with them. Empty nesters may look for a home with the option of single-level living to ease the way into old age, families might look for space in the yard for an addition, or a buyer might prefer an unfinished basement to add in a workshop or theatre room. 

EfficiencyEnergy Star- rated appliances, LED lightbulbs, tankless water heaters, multi-paned windows, and blown-in insulation are all items that should be advertised when selling your home. These features lower energy costs and are often things that buyers will not have to worry about or replace very soon after purchasing a home. An educated buyer will look for long-term saving options like these when searching for a home.

Eco-friendlinessGoing green is not just a trend anymore. The use of recycled materials in your home is something to share with potential buyers. Bamboo or cork flooring are beautiful materials that stand out in a listing description, as do recycled glass countertops or composite decking made from recycled plastic and wood products. Items that are eco-friendly are often also energy-efficient and long-lasting, so it's a win-win for the new owner. 

Are you buying or selling a home in Greater Cincinnati or Northern Kentucky this year? Contact Greater Cincy Homes today to get started.

5 Ways to Protect Your Finances When Buying a Home

The search for your next home is always exciting, but it can often be filled with traps and pitfalls if you are not careful. Below you'll find 5 great ways to protect yourself in your next home purchase. Don't be a statistic; do your due diligence and get settled in a home that you can afford comfortably.

1. Be cautious about distressed properties
Many buyers seek out short sale homes or homes in foreclosure as a way to get a bargain on a new home. While some of these homes are still in good condition, many are not. It's important when you are considering a foreclosure or short sale home to do your homework. Be sure to hire a competent home inspector, and if major issues are found, hire a licensed contractor to analyze the problem and see if you can afford the fix. Even if a home is priced below market value, a fixer-upper can cost you more at the end of the day.

2. Watch out for overpriced FSBOs
Some buyers will talk to FSBOs (For Sale By Owner) because they want to cut out the Realtor commission and save themselves 3% on the price of the home. In theory, that could work, but many times FSBOs are actually priced higher than the market value because they haven't been priced by a professional. Be sure to talk to your buyers agent about the neighborhood values to ensure that you are not being wooed by an enthusiastic owner to pay too much for your home.

3. Don't borrow the full amount your lender offers
When you sit down to talk to a lender, they will review your financial situation with you to determine what you are able to borrow. They all have their systems in place that will give you a price they feel you can afford in the long-term. However, it's not always the best idea to shop at the top of your budget. While the lender knows a lot about your credit and expenses, they can't decide what monthly payment you are comfortable with. That needs to be a discussion between you and anyone else who is sharing that monthly mortgage payment with you.

4. Maintain a cash reserve 
Besides determining the amount of money you want to borrow to buy a house, you have to look at what liquid funds you have at your disposal. It's never a good idea to spend your entire savings on a down payment for a house. Keep a reserve available for taxes, utilities, repairs, and maintenance. Many homebuyers don't realize how much they will need to spend to move into a new home, especially first-time homebuyers. Keep your spending conservative with your home purchase, and you will be able to comfortably enjoy it for years to come.

5. Hire a strong buyer agent
This is perhaps the single best thing you can do to protect yourself when buying a home. A strong buyer agent will guide you through all of the above and more. They will make sure you see the best homes in your price range, and that you understand all of the costs involved in living there. A knowledgeable agent will know about the local HOAs, any special assessments, and they will be able to negotiate the best sales price for you. Don't sell yourself short; hire a strong buyer agent to help you and get to closing without the headaches.

Are you buying a home in Cincinnati or Northern Kentucky this year? Contact Greater Cincy Homes today to get started!

Originally posted on www.sarahknobbs.com.

5 Tips for Selling a Greater Cincy Home in Winter

Many people say that spring and summer are the best times to sell a home. While each season has its advantages and disadvantages, winter is actually a great time to sell your home in Cincinnati and Northern Kentucky. Keep reading to get tips and advice to make your home stand out and get it sold for the best value in winter.

 

1. Dress up the front of your house to make it feel warm and inviting. Don't go overboard!  You want to make sure that you enhance the curb appeal of your home, not hide it. Strategically placed lights and greenery are often enough to create the idea of a welcoming home.  As in other seasons, you want to create that great first impression with curb appeal.

 

2. One of the biggest things is a simple one-- make sure to keep the house clean and all walkways clear of leaves, snow, and other debris. If buyers need to trek through a few inches of snow on the way into your home, or if they enter a kitchen with dirty dishes all over the counter, that sets the wrong tone for the showing.

 

3. Don't be shy with the light and the heat. When you sell a home in the winter, turn on all the lights before showings and open the blinds. Allowing more light creates a more welcoming atmosphere, and buyers will see your home at its best. Also be sure to keep your thermostat set at a comfortable temperature all day when you have a showing. Not only does a cold home make buyers feel uncomfortable, but they will also start questioning whether your HVAC system is working.

 

4. Something many do not consider when preparing a home for showing is providing sound, specifically music. You could put on jazz, classical, or any other music you feel wouldn't distract from the house. Having soft music in the background makes the home feel more alive, and buyers will be more comfortable moving around and evaluating the home.

 

5. Be sure to take advantage of the lower inventory in the wintertime and highlight the unique features of your home. Your Realtor should have all items of significance listed in the MLS and in their in-home flyer, but you might take the time to place a small notice outside of each room to point out the important features. If you have a new water heater, you might notate that outside of your utility room, or you could list the materials used in your beautiful kitchen renovation so buyers know exactly what they are getting.

Are you buying or selling a home in Cincinnati or Northern Kentucky this year? Contact Greater Cincy Homes today to get started.

DIY Guide to Decluttering Your Greater Cincy Home

The new year causes many of us to reflect on the previous year and set goals to improve. For some, they decide to go to the gym more often or eat better. Others set work or professional goals to achieve.

This post is for the people who want to take back their homes from the clutter in the new year. Clutter often builds up slowly over time until you look around and wonder how it all got there. Fear not! There is a simple 3-step method to make it all go away.

Define Your Goals
Before beginning, you want to take the time to make a plan. Go through each room of your house and decide what needs to be done in each location. Track this either with pen and paper, or use something like Google Docs or Evernote to ensure you don't forget the details.

Once you know what has to be done, determine the priority of each area. Is your office overflowing with outdated paperwork? Are your kitchen cabinets bursting with cookware you never use? Decide which location will give you the most satisfaction when it is not full of clutter, and make that your #1 priority. Rank the other areas in relative importance from high to low.

The last (and often overlooked) part of goal-setting is choosing a timeline. If your kitchen is the first location to tackle, maybe you want to sort out all the old cookware by Sunday evening, so you can cook without the clutter through the workweek. Whatever the timeline is, make sure you stick to it so you complete the other items on your list.

Decide How to SortSorting as you go through the clutter is important. You can make your sorting process very simple by dividing everything you encounter into 3 categories: Keep, Trash, and Storage. 

Keep - these are items that you use on a regular basis that are functional or items that bring you joy. What does that mean? Anything that you can instantly recall the last time you used it and you know it works, keep it. If you have something that you would use if it wasn't broken, but it just sits on a shelf waiting for you to fix it for months and months, just get rid of it. An item that brings you joy could be anything from a sports jersey to a toy from your childhood to a family heirloom. These items might not be very practical, but their existence makes you happy.

Trash - If an item is broken and can't be easily fixed, trash it. If you haven't used something in over a year (and it's not a seasonal item), trash it. If you're keeping a horrible gift solely out of obligation to Great Aunt Mildred, trash it. Trashing it doesn't have to mean you fill endless garbage bags as you go through your house, however. Many items can be recycled or donated, or you could have a yard sale. 

Storage - For seasonal items, or for things with emotional significance that don't fit elsewhere in your home, storage is the way to go. Whether it's your own attic/basement storage, or you pay for a storage unit, take the time to organize what you store. Items that you pull out for holidays should be easily accessible. If you are keeping things because you plan to buy a larger house one day, those might not need to be as accessible.

Set Aside Time to Work
Even if it's only 15 minutes a day, or 1 hour on Saturdays, commit to that time. If you skip it, the clutter will stay. If you struggle with this, make it a game. Get someone to join you in the activity and make it a contest, or give yourself a reward for keeping to your schedule. However you do it, you just have to make sure that it gets done. The best reward to keeping to your schedule will be the new, clean look your home has when you are done. 

Thinking of selling a home in Northern Virginia in 2016? Contact Greater Cincy Homes today to get started.