| In
This Issue |
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| Monthly
Quote |
“My home is not a place, it is people.”
-Lois McMaster Bujold, American author, (1949 - ),
Barrayar
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| Tip
Of The Month |
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When you are looking for a contractor
to do any type of work on your home, make sure the person or company
you hire has the proper credentials. Contractors should be bonded,
registered with the city or county and licensed by the state.
Although these credentials are no guarantee that you will like
the work or that it will be quality, you will at least have the
reassurance that the contractor is licensed. Additionally, if
you have a serious complaint about the contractor, it will help
to know this information so you can contact the licensing agency
or the Better Business Bureau or take the party to court.
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You
should also check for proper insurance. A contractor should
be insured for property damage, worker’s compensation
and personal liability. Independent contractors may not
have worker’s compensation insurance, but they should
have proof of liability, medical and disability insurance. |
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| · |
You
can verify these credentials by calling the state, city
and county housing authorities to verify licensing and
bonding. To verify insurance coverage, you can call the
contractor’s insurer. |
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Properly screening contractors, whether your job
is fixing a toilet or finishing a basement, will go a long way
toward preventing problems before, during and after the job.
(Source: Gary Hedstrom, Peggy Hedstrom & Judy
Tremore, How to Fix Everything for Dummies, Wiley Publishing,
Inc., 2005.) |
Last
Month's
National Survey
Results |
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In
Your opinion in the next 6 months will the value of your home...?
A whopping 85% of homeowners across the country expect that home
prices will continue to appreciate in the next six months
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| Ask
Your Realtor the Important Questions |
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With the key home selling months still here,
we give you the low-down on how to select the right realtor for
you.
Right now is a great time to sell you home. Not
only are we still in the peak home-sales season of April, May
and June, but most areas have a shortage of homes and interest
rates have started rising, which means most potential homebuyers
want to get in there quick before the rates go any higher. Before
you list your home, there are three key steps you need to make
sure you have completed, which were discussed in a recent Inman
News article.
Step One: Clean, paint, repair,
and generally spruce up your house so that it is ready for people
to picture themselves living there. The clutter is put away, and
the true charm of your house is revealed.
Step Two: Obtain a professional
inspection, preferably from an inspector that belongs to the American
Society of Home Inspectors. There may be other reports that are
common to your area, such as energy efficiency. Such a report
will give buyers greater confidence, and can cut down a lot of
negotiating time, especially if you have addressed any issues
the report identifies.
Step Three: The next step is arguably
the most daunting - choosing a realtor. The key here is to interview
at least three realtors, so that you can see who in the area is
the most realistic and who offers the best plan for selling your
home. As part of the interview, make sure you obtain and retain
a written comparative market analysis. This analysis will show
the recent sale prices of comparable homes, the current listing
price of your local competition, and a list of homes similar to
yours whose listings have recently expired (probably due to an
excessive asking price). After your potential realtor has presented
his or her case, make sure you get an understanding of the following
areas:
- How long have they been operating in your area?
- When are their days off, and are they going
to be taking any vacation soon?
- How is the workload handled? Do they have office
assistants? How many listings do they have currently?
- What is their written marketing plan for your
home?
- Are they full-time or part-time?
- What do their fees consist of?
- Can they guarantee a sale within a 90-day listing
period? (A good idea to cover yourself is to insert a clause
that states you are free from obligation if your house is listed
for more than 90 days.)
Hopefully, you will have your pick of several
excellent realtors that you have interviewed. Even if this is
not the case, by asking many questions, you can separate the best,
and be happy in the knowledge that your home is being faithfully
represented.
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