Tamaqua HomeBuyers and Sellers – take heed!

Do you use Facebook? Are you planning to purchase or sell a Tamaqua home?

Then heed this warning.

Posting about the purchase or sale of a home can cost you thousands of dollars.

 

Computer savvy agents check Facebook to see what they can learn about people on the other side of their transactions.

Often they learn that buyers will pay far more than they’ve offered or sellers will accept far less than their listed price. They might not tell their agents this fact – but they tell the whole world on Facebook!

You CAN mention that your house is for sale - and you can state the price. You can even post a list of features and benefits, and a photo of the house. You never know, one of your Facebook friends may have a friend who is looking for a house just like yours.

But then direct all inquiries to your agent, and absolutely never say you'll take less than list price. 

Once you're negotiating over a purchase, it's best not to talk about your real estate transaction at all, because you could give the other agent important negotiating information. That means it would also be foolish to talk about your upcoming move – especially if you need to be in some other city by a certain date or need to be moved into your new home soon.

Don't talk about your reasons for moving, no matter what they are. 

Is this fair? Sure it is. In fact, that kind of research is a sign of a dedicated agent, learning everything possible to help his or her clients. 

So be careful. Remember that your children also need to keep quiet about the purchase or sale. It’s easy to follow from a parent’s page to a child’s page to see what they’re telling their friends. The kids might not know the financial details, but they can do damage by talking about the family’s eagerness to move or their reasons for needing to move.

Once it's over and the transaction is closed - go ahead and celebrate on Facebook. Until then... stay quiet

Keep an Eye to Safety When Selling Your Tamaqua Home

When you offer your Tamaqua home for sale, it means that strangers will be exploring every room.

 

While most of those strangers will be honest agents and honest people simply looking for a home, you need to take precautions against those who are viewing homes for illegal purposes.

 

To protect yourself, your family, and your possessions, follow these rules:

 

• Let your agent or a scheduling service set appointments with agents who want to show your home. They’ll verify that the “agent” really is an agent.
   
•  If you're at home, never let anyone in without their agent – and never let anyone in even with an agent unless they've made an appointment. They may have called 10 minutes ago, but the call at least indicates that they are who they say they are.
   
• Remember, anyone can have cards printed, so that “agent” who shows up at the door with no prior notice may not be an agent at all.
   
• If your agent uses a lock box, showings could occur when you aren't home, but only agents will have access to the lock box. If the idea of people walking in without warning makes you nervous, remove the key during the hours when you’re home. 
• If your children are home alone at specific times of day, you might want to ask your agent NOT to schedule showings during those times.
   
• If your children are at home when you're absent, be sure they know not to open the door to strangers. Of course, DO be sure to let them know if a showing is scheduled, and tell them how to behave when the agent and buyers are in the house. Kids can give away your negotiating position just as easily as you can – so NO conversing with the buyers or the agent!
   
•  Lock up your valuables. Never leave money, jewelry, or expensive items that could fit in a pocket out where they can be seen. Instead, put them in a locked drawer or safe.
   
•  Lock up your prescription medications – especially if you take pain killers or anti-depressants.
   
• Put away checkbooks, credit cards, and personal paperwork such as credit card bills, medical bills, insurance forms, and pay check stubs. Identity theft is a growing threat to everyone, so be careful.
   
• Put away treasured breakables. Some buyers bring along children who are "into everything." Others carry handbags or wear coats with big sleeves. Accidents happen.
   
• If your home has been shown, check your window latches before you leave the next time. People have been known to unlatch windows with the intent of coming back to “loot” the house at a later time.
   
• Put your pets in a crate or kennel, or take them with you. Don't trust the agent or the buyers to keep pets safely in the house - and don't trust your "always friendly" dog not to bite someone he or she considers to be an intruder.

 

It’s very unlikely that anyone with criminal intent will try to access your house. At the same time, failure to take precautions is simply unwise.

 

Better safe than sorry… 

Searching for a home in Tamaqua? Don’t bypass these…

When you’re searching for a new home here in Tamaqua you may be automatically bypassing those that have been on the market “too long.”

 

You may think there’s something wrong with the house or the neighborhood – otherwise it would have sold right away.

 

You might also skip right over a house that has only one photo – or photos that aren’t especially flattering.

 

Do yourself a favor – give them a second look.

 

There could be more than one reason why that house has been for sale “too long.”

• It could be that the agent miscalculated or the seller insisted and it was priced too high at the outset.
• It could be that an illness or other emergency prevented the house from being shown consistently when it first came on the market.
• It could be that there was a buyer whose loan fell through at the last minute.
• And it could be that the sellers simply chose the wrong agent.

If a house has no photos or poor photos – it’s true that it could be that there’s nothing good to see. It could also be that the agent was lazy and didn’t want to take the time or go to the expense of getting good photos.  

           

So if that house fits your general “wants and needs” list, give it another look. It could be that hidden gem you’ve been searching for. And… since it’s been on the market “too long,” you just might be able to purchase it at a very good price.

 

If you’re looking for a home in Tamaqua, call me. I’ll be glad to help you search out those hidden gems and find the home of your dreams. 

Do you need a buyers' agent when contracting to buy a newly constructed home in Tamaqua?

Yes, you absolutely need a buyers' agent when contracting to buy a newly constructed home – and you need that agent with you the first time you visit a contractor's model home.

 

All too often buyers look at contracting to purchase a home in a new subdivision as something like ordering a new car. You go in, look at the models available, choose your options, and place your order.

 

When you buy that new car you know that the sales person is working for the dealership. You don't even question the fact. If you've done a little research, you probably even have a pretty good idea about how much they can or will negotiate with you.

 

Unfortunately, buyers are sometimes lulled into thinking the agent at that model home is working for them. And it just isn't so. That agent is working for the seller and only the seller.

 

When you work with a buyer's agent who is familiar with new construction, you can save thousands of dollars because your agent will know how to negotiate with the builder.

 

Agents know what you can ask for in terms of upgrades and will guide you as you read builder specifications, to ensure that the floor coverings, counter-tops, heating and cooling systems, fixtures, and appliances that come with your new house are the quality you expect.

 

Agents also know about builder reputations – and that does count! You want someone who can be counted on to keep his or her word, and who won't try to hide shoddy construction behind the walls.  

 

So why take your agent along on the first visit?

 

Why can't you just look around to see which models you might like before you take up any of that agent's time?

 

Because if you're not represented on that first visit, you will be "working with" their in-house agent whether you like it or not. Most builders won't allow you to bring in your own representation once initial contact has been made. Some new home builders here in Tamaqua will honor your agency relationship if you present your agent's card at the first visit and some will not.

 

So be safe – call me before you tour model homes here in Tamaqua. I'll be glad to go along and represent your best interests. 

More bank-owned homes on the horizon for Tamaqua

Now, nearly 8 years after the foreclosure crisis began, more than 5 million homes have been lost. In June 2016 the sale of foreclosed properties fell to their lowest levels since 2008, and the foreclosure rate fell to “only” 1.7%.

 

That sounds like the winding-down of the crisis. Unfortunately, a whole new wave of foreclosures is on the horizon.

 

While newer-vintage loans are doing well, it seems that the foreclosure crisis was never solved, it was only deferred.

 

First, the interest-only home equity loans that people took out during the bubble years will re-set, causing dramatic payment increases. TransUnion estimates that as much as $79 billion in home equity loans are at risk of default from this source.

 

Next, the government’s HAMP program provided only temporary interest relief. For many, payments will now begin rising as interest rates increase by 1% per year. The belief was that the economy would be in better shape by now – more people would be working and wages would be higher. As we all know, that hasn’t happened. For more than 300,000 homeowners, the rate resets began in 2015.

 

Loan modifications yielded the same result. It’s estimated that 2 million modifications, of which about 40% are on homes that are still underwater, will see a huge increase in monthly payments as their interest rates reset.

 

On top of that there may still be “shadow inventory” waiting to hit the market.

 

Should you consider buying a bank-owned home here in Tamaqua?

Bank-owned homes can be a good buy, but they do come with the uncertainty of not knowing the home’s history.

 

Because the owner – the bank – has never occupied the home, they aren't required to provide a property condition report. Thus, any lurking problems are yours and your home inspector's to discover.

 

Next, since no one involved has ever lived there, there's no one who knows all about how to operate the various systems. If the furnace has some quirks – they’ll be yours to discover. If you need to find a hidden valve in order to use the sprinkler system, it will be up to you to search for it.

 

I do have a list of vendors you can call on if the investigation has you stymied.

 

The good news: Since you'll likely buy at a somewhat discounted price, you can use your extra funds to make the home your own. You can repaint, replace the carpeting, and maybe even remodel the kitchen.

 

If you’re up for a rewarding adventure and don’t need to move in right away, purchasing a foreclosure here in Tamaqua could be just right for you. It all depends upon whether you're willing to deal with a bit of clean-up, fix-up, and uncertainty.

 

Whatever you're looking for, I'm here to help you find it, so give me a call at 570-640-8109 and let's get started!