The Multifaceted Nature of Negotiating Purchase Price

Today I’ll discuss negotiating the purchase price on a home and share a story that reveals the importance of enlisting the help of a skilled agent in doing so.

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This past year, I had the privilege of simultaneously representing two buyers whose situations were somewhat dissimilar but mirrored each other in this way: Both buyers enjoyed favorable end results that they were thrilled to reap the benefits of.

While one buyer was looking to purchase a home, the other was in the market for commercial property. We found properties the buyers were interested in, respectively, and negotiated the purchase price for each. Here’s the difference—the commercial buyer successfully negotiated the asking price down by roughly $64,000.

Now, juxtapose that with the homebuyer, who paid $117,000 above listing price after negotiations, but in doing so, won a fiercely competitive bidding war against 11 other buyers. Not only that, the buyer had an additional $100,000 they were willing to offer if it had been necessary.

All in all, this made for very fulfilling buyer experiences for both parties.

There are a lot of particulars to bear in mind as negotiations on a home take shape.

The moral of this story regarding two unique sets of buyer circumstances and experiences is that there are a lot of particulars to bear in mind as negotiations on a home take shape—factors that include market value, appraised value, and assessed value.

In addition, there are certain questions that arise out of negotiations, such as: Is the property worth more to the seller than it is to the buyer or vice versa? And who’s actually setting the price—the seller or the seller’s agent?

As all these elements present themselves throughout your real estate transaction, you’ll want to have an experienced, skilled professional by your side to discern the true market value on the property you’re looking to purchase and to help you set a ceiling on the price you should pay for the property.

If you need help negotiating a great price in today’s market or with any other real estate-related questions, we’d love to provide our expertise. Please give us a call at 978-256-3306 or visit us online at www.HomesAreUs.com.

Thinking About Upscaling in Merrimack Valley?

Looking to buy or sell a home in Merrimack Valley? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (978) 852-3001 for a FREE home buying or selling consultation to answer any of your real estate questions.

If you’re considering an upgrade, the first thing to consider is whether you benefit from that transition. Consider taking a look at the economic benefits and ask yourself if it’s affordable to upgrade at the moment. Will the resale of a future home be more than the resale of your current property? Be sure to consider taxes and appreciation as well

Lastly, ask yourself whether the new home will serve your family’s needs. Ultimately, will a new home enable a happier lifestyle? This is pretty important to think about because that’s the final goal anywhere in life!

If you’re thinking about upscaling, reach out to me today by phone or email. I’d be happy to mediate this conversation with you!

What to Look for in a Real Estate Professional

Looking to buy or sell a home in Merrimack Valley? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (978) 852-3001 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today I'm going to continue my series about things you should be looking for in potential real estate agents. Choosing someone to help you buy or sell a home is important because it's probably the largest financial transaction that you'll ever be a part of.

Here are four more important things to look for in a real estate agent.

1. Look for continued education: You would probably want your doctor or your lawyer to partake in continual education, and the same should be true for your real estate agent. Ask about any professional designations they have earned, or ask them if they are working to earn any extra certifications.

2. Real estate in today's market is much more consumer-centric. A good real estate agent should cater to the needs of a buyer or seller. Good customer service is the cornerstone to any successful real estate business. I value my clients, and I have three assistants with the sole task of serving you and exceeding your expectations.

3. In a real estate transaction, there are roughly 162 tasks that need to be completed. You'll need an organized, capable agent to do this work for you. I've been in real estate for 40 years, so I know I have the system down. I can't say the same for agents with only a few years of experience.

4. The company that your agent chooses is important. RE/MAX and Keller Williams offer different advantages to the people that work with them. I chose LAER Realty because I thought it would help me serve my clients at a higher level. They can be trusted, and there is a major focus on continued education.

So, if you have any further questions about what to look for in a real estate professional, please don't hesitate to contact me. I look forward to speaking with you!

Four Traits to Look for in a Successful Real Estate Agent

Looking to buy or sell a home in Merrimack Valley? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (978) 852-3001 for a FREE home buying or selling consultation to answer any of your real estate questions.

How are you supposed to differentiate me from other real estate agents? How can you distinguish between the good and the bad? Well, that's what I'll be explaining today.

I trained with the Mike Ferry organization, the leading training organization for real estate agents in North America, and I'd like to relay some tips I learned there to help you as a consumer. There are a few different things that you need to understand before choosing an agent.

1. I have the power to protect your equity when I negotiate the price of your home. Technically, any agent has this power, but why not allow someone with four decades of experience to do this for you? This gives you the competitive edge that you need to succeed.

2. As I've said before, I'm involved in a network of the most highly trained agents in America. There are over 5,000 agents across the country that I can contact. This allows me to help you find a good home anywhere in North America.

3. I strategize in order to sell your home for top market value. I utilize the latest and most effective marketing techniques to get your home out in front of a wide audience. The more people that see your home, the better off you will be as a seller. This brings in multiple offers and usually results in a top dollar sale.

4. I'm constantly training to improve my skills. I attend three to four seminars each year, and this allows me to bring you a dynamic service that is getting better and better every day.

If you need assistance buying or selling a home in the Merrimack Valley, I would love to set up a free consultation with you.

Consider me your number one real estate resource in the Merrimack Valley!

What’s Preventing You From Selling Your Home?

Looking to buy or sell a home in Merrimack Valley? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (978) 852-3001 for a FREE home buying or selling consultation to answer any of your real estate questions.

If you’ve wanted to sell your home in the past but haven’t been able to, what’s stopping you now? Today we are going to talk about the most common reasons sellers decided against listing their home. Let’s take a look at them now: 

1. Your home isn’t prepared
If this is the case for you, all you really need to do is sit down with an agent or a home stager that can direct you on where to spend money to get the best return and how to best prepare your home for sell.

2. Rates are not favorable
Although you may think that rates are too high, if you look at the big picture, they really aren’t. They are historically low right now, and if they go up just a little bit, it will greatly affect your payments over a 30 or 15-year mortgage period.

3. Haven’t found the right property
The best solution for this is to know exactly how much you are going to qualify for, and identify the homes that meet your criteria. If there aren’t any to your liking, you may need to tweak your criteria a little bit. 

4. Unanswered questions
It may just be that you are afraid to ask a question or don’t know what question to ask. If there is anything we can do to help ease your doubts, or if you have any questions for us, give us a call or send us an email. We look forward to talking to you soon!

The final problem that people have is they haven’t found the right real estate professional to help them yet. If you need answers to any of the questions above, or if there is anything we can do to help silence your doubts, give us a call or send us an email. We would love to speak with you!

How to Win a Bidding War as a Buyer in Merrimack Valley

 Looking to buy or sell a home in Merrimack Valley? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (978) 852-3001 for a FREE home buying or selling consultation to answer any of your real estate questions.

 The market in the Merrimack Valley is hot right now, and as a buyer you may be finding it difficult to purchase a home. Because of this, you're going to need a good buyer's agent who is willing to ask a lot of questions to the seller and do a lot of negotiating on your behalf. Some important questions to consider when making an attractive offer would be:

• When do the sellers want to close, or would they consider a lease-back option?
• What unique needs do the sellers have that you could satisfy?
• Do the sellers have a series of home inspections that they would like to sell to the buyer?
• Ideally, when would they like to decide on an offer?
• Do they want to carry seller financing?
• Are there any preferences with appliances or amenities they want to include or sell separately?
• Would the sellers consider a sliding scale or variable offer?
•  Could the buyer's agent present the offer directly to them?

These are the questions that you can use to get a feel for the seller's needs, and this can be immensely helpful in writing them an enticing offer. This will surely help you and your buyer's agent to win a bid on a home that you love.

With all this being said, please don't hesitate to contact me if you need any assistance buying or selling in Merrimack Valley. I would be happy to help you!

What's the Difference Between an Inspector and an Appraiser?

Looking to buy or sell a home in Merrimack Valley? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (978) 852-3001 for a FREE home buying or selling consultation to answer any of your real estate questions.

Good morning, and thanks for coming back to join us.The focus of our blog today is to  identify the distinction between a home inspector and a home appraiser. We've been getting a lot of questions about this lately, so we thought we would clear the air for you so you know the difference between the two. 

First of all, a home inspector is someone a buyer hires to completely inspect the condition of the home they are about to buy. The home inspector, in many cases, will produce a report of about 50-100 pages detailing all of the science and function associated with the property.

Home inspectors identify problems in every area of the home, whether it has to do with systems, defects, foundation issues, or anything else. Issues regarding mold, lead paint, asbestos, and other health hazards are also covered by the home inspector. They can give you information regarding anything that has to do with issues that need to be identified and repaired on the property. 

An appraiser, on the other hand, has a completely different role in the sale. What the appraiser does is identify what the appraised value of the property is, so that can be shared with the lender who is financing it. If the appraised value comes in lower than the sale price, it can create a challenge for the buyer. If you have a great agent, they can negotiate the settlement so that the difference between the sale value and the appraisal can be resolved amicably. 

If you have any questions, give me a call or send me an email. Until next time!

Myths About the Reverse Mortgage

Looking to buy or sell a home in Merrimack Valley? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (978) 852-3001 for a FREE home buying or selling consultation to answer any of your real estate questions.

Did you know that you can actually buy a home with a reverse mortgage? I recently had a client who couldn't qualify for a regular mortgage for a home, so once we did our research we found that she could purchase the home with a reverse mortgage, and she'll never have to make a mortgage payment as long as she lives there. Today I'm going to clear up some myths about the reverse mortgage, because nobody seems to quite understand them.

1. You can't qualify for a reverse mortgage because of your credit and income: this is not true.
2. You can't get a reverse mortgage if you have a forward mortgage: this is also untrue. 
3. If I outlive my life expectancy, the lender will evict me: another false idea. 
4. You don't have an objective adviser with whom to speak: You must meet with an independent adviser in Massachusetts whenever you try to go through with a reverse mortgage. 

So, what are the benefits of a reverse mortgage? 

1. Seniors can continue to live in their home without a monthly mortgage payment. There are no income or credit score qualifications, even though this is about to change in Massachusetts in April 2015.
2. You can pay for healthcare costs with a reverse mortgage. 
3. You can free up cash for additional income, in order to enjoy your retirement.
4. There is also no pre-payment penalty if you decide to sell the property.
   

So, if you have any questions about the Merrimack Valley real estate market, please don't hesitate to contact us. 

If you'd like more information on reverse mortgages, then you might find this site to be helpful. 

As always, please consider me your #1 resource for real estate!

Find the Right Destination Property by Hiring a Great Agent

Looking to buy or sell a home in Merrimack Valley? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (978) 852-3001 for a FREE home buying or selling consultation to answer any of your real estate questions.  

 The greatest challenge that most sellers face is finding the right destination property. Sure, you know you want to sell your current home - but how do you find a new one when you're not sure where it is you want to go?

For starters, you need to enable yourself to more readily afford the home of your dreams. To do this, it is critical that you leverage the sale of your current home to get the best possible price. By maximizing your opportunity to find the right home, finding the right destination property will become much easier.

Next, by creating more spending power from the sale of your home, you'll have the adequate funds to leverage the purchase of your new home. Working with the right agent is the best way to do this effectively. They will help you maximize your financial opportunity in both transactions. 

Hiring any run-of -the-mill agent won't do. You need to make yourself familiar with the characteristics of a great agent - one that can facilitate the entire process so you can sell and buy at about the same time. Here's what to look for:

1. Experienced
2. 
   
3. Knowledgeable
4. 
   
5. Listening skills
6. 
   
7. Negotiating skills
8. 
   
9. Highly Competitive

Keep these characteristics in mind when looking for an agent if you want to have successful transactions. As always, we're available to help for all your Merrimack Valley real estate needs, so don't hesitate to give us a call. We'd love to show you what we have to offer.