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Thomas Hoch

Realtor

My Blog

Discovering that a home you like has “issues”

8/20/2015

 

Say you’re viewing a home and are impressed with how it looks. The walls are freshly painted. Everything seems bright and new. You’re considering making an offer.

 

Then, while standing on a mat in the kitchen, you hear a squeak below your feet. You lift the mat and see that some tiles are broken. Obviously the mat was there to, literally, cover up that defect.

 

A few broken tiles are not a big deal. But now you’re thinking, “What else might be wrong with this house?”

 

 

There’s no reason to worry that every home will have maintenance issues hidden from view. However, it’s smart to do your due diligence to ensure the home you’re considering is truly as good as it looks.

 

One way is to have a professional home inspector check out the property as a condition of your purchase offer. He or she will inspect the home from top to bottom, inside and out, and point out any issues you should address.

 

It’s also smart to ask questions. Find out the age of certain features, such as the roof, furnace, and appliances. Ask about any recent renovations, and determine whether they were done by a professional or by the homeowner.

 

Most importantly, work with a good REALTOR® who can provide you with information on the property that you would have difficulty getting on your own. Your REALTOR® has a stake in making sure you buy a home with your eyes wide open — knowing all the potential maintenance issues you’re likely to encounter.

 

Want to talk to a good REALTOR®? Call Me today.

 

Preparing for a Power Outage

7/17/2015

Preparing for a.......

 

 

Some people can live in their homes for years without ever experiencing a power outage. In fact, even in areas prone to serious storms or snowfalls, power loss doesn't happen that often. No wonder so many homeowners are caught unprepared when it does.

 

 

To make sure you're not caught unprepared, follow these tips:

 

  • Replace batteries in unused flashlights every six months.

 

  • Keep candles and matches in a handy place. Monitor them closely when lit and always blow them out before going to sleep.

 

  • For computers and phones, consider purchasing a power backup. (Some models provide up to 8 hours of power for two or three devices.)

 

  • Know the address of your local fire station and nearest community center. These are the most common places to find help during a power outage.

 

When the power does go out, make sure the stove is turned off. You don't want an unattended burner or gas leak when the power finally comes back on.

The Importance of Reading and Understanding an Offer

7/7/2015

Know what you're signing.....

 

 

 

When you make or receive an offer to buy a property, it's important that you read and understand every clause. It is especially important to understand any conditions or any changes that are made to the standard offer.

 

An offer may contain several types of conditions. The most common are "conditional upon arranging financing" and "conditional upon passing a professional home inspection." However, there may be other conditions as well.

 

You should be aware of – and fully understand – all of them.

 

In addition, the wording of an offer may change during the back and forth negotiations that often happen. Aside from changes to the price, other clauses may be added, removed or reworded as well.

 

A good agent will always ask you to initial changes. This is done primarily to ensure you know and approve of what you're signing.

 

A recent newspaper article tells the story of a buyer-seller legal dispute that resulted in a six-figure judgement against the seller. This was due, in part, to a lack of understanding of one of the clauses in the agreement.

 

You don't want that to happen to you. Take the time to carefully review and understand an offer.

 

Want to make sure everything goes smoothly with your next move? Call ME today!

Will Your Nieghborhood Go Up in Value?

6/29/2015

 Will the Neighborhood Go Up in Value?   

    

When you purchase a home, you’re hoping it will continually go up in value — just like a good investment.

 

However, there’s something else that you want to see go up in value as well: the neighborhood. In fact, the neighborhood plays a key role in what the home will be worth in years to come. If the neighborhood goes down in terms of desirability, so will the market value of the home.

 

 

That’s why, when shopping for a new home, it’s important to get a feel for the value of the neighborhood, and whether or not it’s on the upswing.

 

How do you do that? One way is to simply take a walk. Look at the properties. Are they well maintained? Is the landscaping groomed and attractive? Those are signs of “pride of ownership” — a clear indication that owners value their homes and the neighborhood.

 

Another way is to do some research. Has crime gone up in the neighborhood? Are there improvements planned, such as new parks? Is the neighborhood attracting the kind of people you want as neighbors? How does the neighborhood school rank?

 

Some of this information may be difficult to get on your own. A good REALTOR® can help you. Call ME today!

 

Thanks for reading my blog, I hope you found value in the content!

 

Buy or Sell First?

6/18/2015
Should You Sell First and Buy Later? Or Vice Versa?

 

When you’re thinking of selling your home and buying another, you face the inevitable question: Should I list my property first or buy my new home first? Let’s take a look at both options.

                      If you attempt to buy a property before listing your home, you run into a few challenges:
  • First, sellers may not take you seriously as a potential buyer. After all, you haven’t put your own home up for sale. As far as they’re concerned, you might merely be testing the market.
  • Second, your property might not sell as quickly as you thought it would. If there is an early closing date on the home you purchased, you might end up owning, and paying a mortgage on both properties, at least until your home sells.
  If, on the other hand, you list your property before buying a new home, sellers will know you’re serious. That puts you  in a competitive position in the event of multiple offers. Also, if your home sells quickly, you’ll have the peace-of-mind of knowing exactly how much of a new home you can afford. You’ll be able to shop with confidence.
 Of course, like the first option, there is a chance that the closing dates won’t match and you’ll end up owning two properties for a period of time. However, solutions such as bridge financing are available to help.
 So, there is no perfect answer. A lot depends on the state of the local market. Looking for a good REALTOR® who can help you decide which is the best move for you?
Thanks for reading my blog!
                                     
   
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