Congratulations on your decision to join the ranks of millions of home owners! Spring is the perfect season to buy a home, and it is the time of year when many others have decided to buy as well.  While that may seem like it would crowd the market with eager buyers, what it actually means is that those other buyers will need to first sell their current homes before they can consider buying a new one.

In my years of experience as a realtor, I can tell you that spring is a fantastic time to start shopping for your new home.  You will be able to visit and explore many homes for sale. These are homes whose owners have spent all winter preparing for your arrival.

Because lenders often offer their most competitive and attractive interest rates, and introduce new mortgage loan program, during the spring, buyers are more likely to save money when they opt to purchase during this time of year.

Here is some advice about how to structure your search for a new home. I hope you will find it to be very helpful.

Get a Loan Commitment, but Keep the Numbers to Yourself
Buyers who already have a loan commitment in their hands before beginning their home search are able to reduce the number of homes considered for purchase. Having a loan commitment also makes negotiating with the seller much less intense.

In order to obtain a loan commitment from a mortgage lender, you will first need to determine the amount of money that you can afford to pay toward your home loan each month.  Keep in mind other expenses, such as recurring debt payments, as well as possible changes in your financial or family situation over the life of the mortgage.

Once you know what you can truly afford to pay, research mortgage lenders and their specific lending programs.  As a realtor, I know that one of the most time-consuming and frustrating processes that new home buyers face is the process of selecting a mortgage product that works for their specific needs.  Explore the options, negotiate with the lender for a lower interest rate, and consider the amount you have on-hand for up-front costs and a down payment.

Once you have identified the best possible mortgage program for your lifestyle, complete the lender´s pre-approval application process, which will include providing paperwork and information regarding your financial situation and employment status and history.  The lender will investigate your credit history and may verify your employment.  If everything is in order, the lender may issue you a pre-approval decision.

At this point, you need to go one step further.  Request a written loan commitment stating that the lender agrees to give you a mortgage loan of a specific amount. This statement will also contain the maximum amount that you are approved to borrow.  Keep this number to yourself!

Make a Wish List for Your New Home
Before you begin looking at homes, it is a good idea to list everything that you want in a home.  List everything that you can think of, because this is your wish list.  Realize, of course, that the list is not set in stone and that you will probably never find a home that offers every detailed item on the list.

Next, go through your list and prioritize each item.  Mark those items that you absolutely must have with a number 1.  Mark those items that you do not require, but would prefer, with a 2.  Mark everything else with a 3, 4 or 5 depending on the importance of the item.

Take a break for a few days and then revisit your list to ensure that it accurately reflects what you´re looking for in a new home.

Once you have completed your prioritized wish list, share it with your realtor and start looking for the home of your dreams!

Look Online
After you have met with your realtor and shared your list of must-haves, the realtor will look through his or her listings and those of other realtors to identify homes that meet your requirements.

While the realtor is doing this, you can use the Internet to search on your own.  Many online realtor sites allow potential buyers to search for homes against a specific list of criteria, and most of these sites provide photographs of the listed homes.

Make a list of any homes that capture your interest, including their address (if available) or the general location.  Most homes listed on realtors´ websites have an MLS (multiple listing service) number, which allows the realtor to find out more detailed information about the home, including the address if you were unable to find that information.

Finally, contact the realtor to arrange showings of the homes that you are most interested in.

Take a Drive
The Internet is a great tool for researching potential homes and neighborhoods, but if you plan to relocate to an unfamiliar area, take some time to explore the location.  If possible, visit the neighborhood at several different times of day.  Driving through a neighborhood in the evening might enable you to talk to other residents. Driving through the neighborhood late at night might give you some insight into the level of noise, activity and possibly even crime that you might experience while living there.

Communicate with Your Realtor
Your realtor´s top priority should be to help you find the right home for your needs. A good realtor will use years of experience and various types of expertise to work with you to find the perfect match.  If you change your mind about what type of neighborhood or home you´re interested in, simply let your realtor know, so that he or she can adjust the search on your behalf.

When you and your realtor work together as a team, you will successfully find the home of your dreams!
Be Prepared for a Fast Closing
When negotiations have stalled, one of the things that can jump-start the sales transaction is for the potential buyer to offer the seller a 30-day closing.

Remember that many spring buyers are also sellers.  Therefore, some sellers must wait for their current home to sell before they are able to close on their own new home.  By carefully navigating this situation and applying strong negotiation skills, you may be able to move into your new home within a month from the date you make an offer.

Buying a new home is a very exciting process, and buying in the spring definitely carries many advantages for buyers.

A good realtor will be willing and available to help you with each and every step of the home-buying process.  From investigating mortgage programs and developing your wish list, to negotiating with sellers, let your realtor´s expertise and experience work for you.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137

Many first-time buyers are unfamiliar with the process when they start looking for a home. Realtors know that the best clients are those who have done their research before starting the process of shopping for a home, because it makes the process much smoother and there are generally very few surprises.  Nothing is more critical for a buyer than being prepared for just about anything.

This holds true whether you are planning to by a small one-bedroom home or a pricey gated home in a beachfront community.  Knowing how the buying process works is definitely advantageous to you as a buyer.

Here are three important questions to ask yourself before deciding to buy a home:

FIRST:  Are You Financially Prepared?
Lenders make it simple for today´s home buyers to determine in advance just how much home they can afford to purchase comfortably.  The first step in making this determination is to use a pre-qualification service through a major lender in order to estimate how much you can afford in light of your current income and large monthly payments.  This process may be as simple as a calculation that tells you what amount you can finance based upon a monthly payment equal to 28% of your net monthly income, or it may factor in your car payments, student loan payments or other mortgage loan payments.  The calculation depends on the lender, but generally the pre-qualification process does not involve anyone reviewing your credit report or other details about your specific situation.

Note that pre-qualification is not a promise to lend.  For that, you will need to select a lender and request pre-approval of a maximum loan amount.  Most lenders use the pre-approval process to determine the borrower´s creditworthiness and decide whether to extend financing and, if so, in what amount.  Once a buyer is pre-approved for financing, he or she receives a pre-approval letter from the lender that states the maximum amount that can be borrowed and the conditions of the loan.

However, pre-approval is not the only thing you need to worry about.  As anyone who has ever purchased a home will tell you, you will need to have about five percent of the home´s purchase price in hand on the day of closing.  This money can and will be used to cover closing costs, such as attorney fees, property taxes, title insurance, documentation fees, and more.  The total closing costs will vary depending on the home´s location and your lender.  If you have made an agreement with the seller in advance, he or she may pay your closing costs for you.

The down payment is one more thing that you need to consider in terms of finances. Traditionally, buyers were expected to make a down payment of about 20% of the home´s purchase price in order to secure equity and demonstrate security to the lender. Fortunately, today´s buyers have access to many programs that provide down-payment assistance and even zero-down mortgages.  Therefore, if you feel that you are unable to put 20% down, research such programs before determining which loan program you will use to purchase your home.

Canadian lenders are more rigid about down-payment requirements, because they are subject to laws that govern the maximum borrowing percentage.  Therefore, Canadian buyers should plan to make a 25% down payment on the closing date.

Making a down payment is more than just handing the lender a check for 20% of the home´s selling price.  As part of the mortgage approval process, you will need to clearly document where

the money came from and how you came to have it.  A gift is allowable for down payments, but only if it is from a close relative or another person with whom you can prove having a very close relationship.  You can use funds from your checking and savings accounts as long as they have been there for several months prior to lender verification. You can also liquidate assets such as homes, vehicles and investments in order to generate the necessary down-payment cash.  Some employer-sponsored retirement accounts will permit you to borrow or cash out funds for the down payment on a home.  In generally, it is not acceptable to borrow funds in order to make a down payment.

SECOND: What Do You Want?
This open-ended question is a prompt to get potential buyers thinking about the list of must-haves for their home-buying process.  Realtors, friends and family alike will probably prompt you to make lists and to constantly revise them in the hopes that before too long you will determine what you can and cannot live without, as well as what you do not want to have in your next home.

A good example is the kitchen.  Do you frequently entertain, or do you have a large family?  If you answered yes, then a modern, well-equipped and large kitchen will probably be on your list of must-haves.  But you may be willing to update a less-than-perfect kitchen as long as the size is right.  Therefore, the size of the kitchen is what will be on your list.  As you make your list, scrutinize every entry and try to be as specific as possible.

THIRD: Where Are You Looking?
Many potential buyers begin searching for their new home on the internet.  Many realtors now include home listings on their website, and there are also sites that include all of the homes listed on the multiple listing service (MLS).  Look online, but only to narrow down the specific type and style of home for which you are looking.

Once you have a good idea of the type of home that you want to purchase, contact your realtor to see what information he or she has about the homes in which you are interested.  Your realtor may have already shown some of the homes and therefore be able to provide you with information that will be useful in determining whether or not a specific home will work for you.

Drive past the homes that you are considering and make a list of those that interest you.  Then make an appointment with your realtor to see as many of those homes as possible, so that you can get a true sense of how the homes compare to one another and how they stack up against your list of must-haves.

Conclusion
By asking yourself the three simple questions above, you are well on your way to a successful home-buying experience.  Remember that your realtor is your best ally in the home-buying process, and never hesitate to ask questions or request assistance in understanding the process.  Every homeowner was once a first-time buyer. You, too, will get through the process of buying a home unscathed.  Learn as much as possible about the local market, know what you are looking for, and know exactly how much you want to spend.  Once you have made those major decisions, you can relax and have a great time looking for the home of your dreams.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137

The very last thing a homeowner wants to hear is that his or her home is considered to be a hard-to-sell home.  Many different factors influence buyers and, particularly in a buyer´s market, a home that does not offer what most buyers are seeking could be considered to be hard to sell.

If you are wondering whether your home might be considered hard to sell, consider the requirements that most people have in mind when shopping for a new home:

Kitchen Size and Condition
Most buyers want to avoid the expense of updating or enlarging a home´s kitchen.  It is well known that kitchen renovations are the most costly type of renovation for homeowners.  Therefore, homes with old kitchens that lack updated plumbing and fixtures are often hard to sell.

Lot Size
Depending on your home´s location, a small (or large) lot size could be a deterrent to potential buyers.  For example, if you have a large home with a tiny lot in a neighborhood that is known for being family-friendly, your home may be the last on the block to sell if all the other homes for sale are in similar condition with similar features.  The reverse is true for small homes with large lots.  If you are selling a small home, the interested buyers may be people who are trying to downsize and avoid ongoing maintenance.  A large lot requires a significant investment of time and money in maintenance.  Therefore, your beautiful, large lot could actually be viewed as a disadvantage.

Overall Condition
If your home needs many updates and a lot of TLC and has several large projects that are obviously waiting to be completed, there is a very good chance that your home will be hard to sell.  A home with a leaking roof, rusted plumbing and a fuse box will be valued less than a similar home where these updates have already been completed.  In a neighborhood where several homes are for sale and yours is the only one in this shabby condition, your home will not sell as quickly as ? and will sell for less than ? the other homes on the market.

Odd Shape, Small Rooms
Older homes offer a certain charm and elegance, but they often also have oddly shaped rooms and a lot of wasted space.  Today´s buyers are looking for convenience and open floor plans.  Therefore, regardless of the home´s condition, if your home is older and fits this description, most realtors may consider it to be hard to sell.

Having a Hard Time Selling Your Home?
This is simply an overview of some of the reasons that a home might be considered hard to sell.  Do not immediately assume that a realtor is correct if he or she tells you that your home will not sell.  Every buyer is looking for something different, and there is bound to be that at least one buyer who thinks your home is a perfect match for his or her needs.  However, when that buyer does not surface after a few months and you need to sell you home, there are some things that you can do to get more buyers interested and to attract more realtors who can show the home to their clients.

Reduce the Price
A small price reduction may not capture buyers´ attention immediately, but it definitely will catch the eye of realtors.  People like bargains, and just as in retail settings, even a tiny discount will make them think that they are getting a good deal.  Most major brokers will advertise a home as having a “reduced price” when a seller opts to lower the asking price.  Sure, you will need to disclose the original asking price when asked, but sometimes the question is never asked. An overpriced home will be hard to sell!  If you have listed your home at a price that is considerably higher than that at which comparable homes in your neighborhood have sold, you may need to lower the price to be competitive.  Deciding to lower the price may be disheartening, but accepting a lower sale price is less expensive than continuing to maintain the home for an extra year or two in the hopes of getting your original asking price.

Make Some Updates
If your price is well within the standard market range for comparable homes, you might want to consider the benefits of making some much-needed updates.  First focus on non-cosmetic renovations.  While you may be tempted to pay a landscaping company to beautify your lawn and gardens, it would be much more cost-effective to install new flooring or update the wiring.  If your home lacks a modern kitchen and you can afford to put in a top-end gourmet kitchen, then the kitchen is the first thing to consider.  Kitchen renovations are large projects, but a home with a brand new kitchen will almost definitely sell for much more than a home with an old kitchen.  Also consider your bathrooms. Bathroom updates can be relatively inexpensive if the fixtures remain in place.  A new floor and wall tiles are relatively inexpensive in a bathroom, when compared with larger rooms.  Opt for the best possible materials and craftsmanship. Remember that you are making the updates to attract a buyer.  Therefore, you must remove your own personal taste from consideration.

Offer Buyer Incentives
Many hard-to-sell homes become more attractive to buyers simply because the seller is willing to pay all closing costs, offer down-payment assistance or offer seller-financing.  Consider the options carefully before determining whether any of these ideas might work for your situation.  Seller-financing is excellent for good buyers with bad credit, because although they may be able to afford the mortgage payments easily, they cannot obtain the necessary financing from traditional lending sources.  When you are selling a home but don´t need the sale proceeds immediately, you might want to consider offering the buyer a balloon mortgage for a few years.  Or you might want to offer continuous financing, depending on the buyer´s qualifications and your comfort level in risking default.

Not all homes are equal, and some have better sale potential than others.  When your home is one of those that lack sale potential, you must consider your options for making the home more attractive.  Although not impossible, it can be expensive to make every needed update or repair, which is why you need to learn to prioritize.

Before making any of the changes suggested above, ask for your realtor´s opinion about how you can make your home more salable.  Very few homes are un-salable.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137

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As a homeowner, you have two important reasons for determining the true value of your home.  The first is so that you can sell your home.  The second is so that you can determine the amount of homeowner´s insurance that you need to carry. Regardless of the reason you want to determine your home´s value, the process is the same.  Hopefully this information will lead you on the path to discovering the true value of your home.

Realtors know that, today more than ever, it is critical to place an accurate value on your home before listing it for sale.  One of the main reasons that a house fails to sell, or gets overlooked entirely, is that it has a listing price that is too high for either the home or the location.

When determining the value of your home for the purpose of insuring it, you need to look beyond its market value.  You need to consider not only your home and land, but also the replacement value.

Home Features
Let´s begin by discussing a home´s features. Whether you are selling or insuring, you need to consider the features that make your home unique.  For example, if your home has brand-new, updated kitchen, bathrooms, or both, then its value will be higher than that of a comparable home with an older kitchen and bathrooms.

The style of the updated rooms should also be a factor for consideration. Depending on the architectural style of the new rooms, the value-add will vary.  If your kitchen has granite countertops and brand-new, top-of-the-line appliances, it will be valued far more than if had Formica countertops and a vinyl-covered floor, even if those features were recent updates.  Therefore, when determining the value of your updates you should consider every aspect of them, from the materials that were used, to the fixtures, appliances, and flooring that were installed.

When valuing your home for replacement, you should also consider the price of new construction.  The price you paid for labor when updating your kitchen this year will likely be a bargain compared to what you would have to pay for the save services ten years form now.  Therefore, you need to consider cost inflation in your estimate of the home´s value.

Also, compare the number of rooms in your home with that of similar homes in your area.  If you have a finished basement game room, then your home´s value is greater than that of a home with an unfinished basement.  And, if your home has an extra garage or an added sunroom, the value will be even higher.

Follow these steps when trying to determine your home´s true value:

Put Aside Your Emotions
One of the problems experienced by homeowners trying to appraise their home is that they often attach increased value to their memories, perhaps subconsciously.  When trying to determine the true value of a home, these memories are important, but they should not play a role in your value calculation.

Consider Getting a Competitive Market Analysis
If you are working with a realtor, request a competitive market analysis (CMA) of your home.  A CMA is a report that shows the selling prices and listing prices of homes that were recently placed on the market and/or sold in your area.  Having this information will help you to determine the true value of your home when you compare it against that of other homes in a neighborhood that you are familiar with.

Go to Some Nearby Open Houses
When you attend local open houses, you must remember that you are there to evaluate your home in comparison with the other homes.  Note the features of the homes you visit and compare them to those of your own home, evaluating how well your home measures up.  Also, determine whether your home is better, worse or similar to the home you are viewing in terms of its location, size, amenities, and condition.  When you make this type of comparison, you are able to use the listing price of the homes you visit to determine whether you are appraising your home correctly for the local real estate market.

Research Market Conditions
Speaking of your local real estate market, it is important to look at the overall market condition. Are homes selling quickly in your area? If so, then you can probably request an upper-end selling price for your home.  However, if homes are staying on the market for a long time, the actual value of your home may be less than you think, and you might want to consider choosing a lower-end selling price.  Home values tend to fluctuate (for sellers) seasonally.  For example, potential buyers may view a home with a swimming pool as being more valuable during the hot summer months.  Likewise, a home with a heating system that needs to be repaired may be perceived as having less value during the winter months.

Talk to your realtor in order to get an accurate picture of your local real estate market when you are trying to determine the true value of your home.  Even if you are not appraising the home for sale, your realtor can help you by providing useful statistics and examples that can guide you in the process.

Determine the Value Per Square Foot
Determining the value of your home per square foot can yield an accurate value for your home, especially when you are using other homes as a basis for comparison.  For example, if you have found a home that offers similar amenities, is in similar condition, and has the same style as your home, but that home is one-third larger than your home, then the values of these two homes will not be the same.  However, if you are able to place a per-square-foot value on that property, you can apply that figure to your own home´s square footage. Your realtor can recommend a number of ways to determine the per-square-foot value of your home.

Whether you need to sell or insure your home, one of the most important steps in the process is determining its value.  When appraising to sell, you need to incorporate the value of the land into your calculation.  However, when valuing for insurance, you really need to look only at the replacement costs.  Remember that the value may be more or less than what you actually paid for your home.  Either way, having an accurate idea of the value of your home gives you an edge during a sale, or if something catastrophic should happen.

Many different types of home valuation service providers are available, but your realtor can provide you with valuable information that will make the process as simple and affordable as possible.  Contact your realtor to request the comparative market analysis mentioned above and to find some comparable homes in your area that will be holding an open house soon, so that you can begin appraising your home´s true value.

Get a Free Competative market evaluation click here.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137

In today´s day and age, realtors have begun to show concern for the well-being and safety of their sellers.  This is not a new phenomenon. There have been a few isolated incidents where realtors have been hurt or threatened during showings and the home-selling process.  This growing concern does not end with the realtor, however.  There is now growing concern for the safety of the sellers themselves.  To protect yourself, carefully read this article, packed with important home-safety tips that can be applied at any time, and especially when your home is listed for sale publicly.

A public home listing could include a newspaper listing, a sign in the front yard, a realtor´s website and even the multiple listing service (MLS).  Almost all sellers will advertise their home in one or more of these ways, so it is important that you familiarize yourself with common safety practices.  While these techniques were originally developed to promote realtor safety, they can be of great value for every homeowner.

You probably already know that when you sell your home, it suddenly becomes accessible to strangers from all walks of life.  The idea of having people you don´t know walking through your home and looking in your closets is probably daunting ? and you are definitely not the first seller to feel that way.  Most of the people who are looking at homes will never do anything to put you in jeopardy and are quite harmless.  Unfortunately, all it takes is one dishonest person to make your worst fears become reality.  Always expect the best, but be prepared for the worst by implementing the security measures described here.

One of the best things that you can do to protect your safety and belongings is to sell you home through a certified realtor.  “For Sale by Owner” is an attractive technique and has many benefits, but when safety is a concern, having a realtor present during showings and open houses is an added measure of security that many home sellers prefer.  Having another person watch out for your interests reduces the chance of theft or damage when those strangers are touring your home.  Someone with the criminal intent of burglarizing your home at a later date could even be walking through your home and looking for security holes that could allow access to your home while you are away or sleeping.

When working with a realtor, mention that safety and protection of your assets is important so that your safety concerns can be addressed in the realtor´s proposal for advertising and showing your home to potential buyers.

Ways to Protect yourself

Although it has become common practice to leave an outgoing answering-machine message stating that you are unavailable to answer the phone, many people still record messages that tell callers that no one is home to answer the call.  Regardless of whether you answer calls when you are at home, it is wise to leave a generic message that you are unavailable.  Security experts also recommend using a standard outgoing message or one that includes your phone number.  Never mention your children´s names in your outgoing message. If you have listed your home for sale, or if you plan to do so in the near future, paying attention to this small detail can provide added safety and security.

When scheduling an appointment for someone ? even a realtor ? to come and see your home, get his or her full name and telephone number and then return the call to verify the number prior to allowing that person into your home.  While this may seem unimportant, it is critical that you know exactly who will be in your home at any given time.

Common sense has probably already told you that when your home is for sale, all loose valuables should be removed before the home is opened to potential buyers.  Expensive furnishings are unlikely to disappear, but jewelry, car keys, credit cards, cash and other small valuable objects are likely to turn up missing. Sometimes these smaller items will not be missed until several potential buyers have been inside your home, so you will not know who took them. Prescription medications are a valuable item that you probably won´t be able to remove from your home. If you can carry your medications with you, it is probably a good idea. If not, then you might want to consider a small safe in which you can store these and other small items.

Sometimes sellers with a lot of valuables that cannot be removed will hire security personnel, at least during their open houses.  This gives the owner and the realtor the freedom to relax and show the home without watching every move of every single visitor.

Follow your realtor´s lead.  Realtors place a visitor sign-in sheet next to the brochures for many reasons.  One obvious reason is so that they can develop the list of potential clients.  But this list is also an extremely useful security measure for the seller.  Insist that everyone who views your home signs in on the provided sheet with at least a name and telephone number.  As an additional security measure, you could even record visitors´ license plate number or ask to see a form of photo identification before allowing potential buyers to enter your home.  This is an uncommon practice and some buyers may be put off by these measures, but when you explain why you are requesting the information, most potential buyers will understand and comply.  If you feel the need to justify your information-collection to the potential buyers, tell them that you feel it is necessary to know who is being granted access to detailed information about your home in order to protect your interests.  An honest buyer will accept this. If there is a dishonest person in the mix, he or she will realize how cautious you are and probably not consider engaging in any criminal activity in your home.

Realtors have devised a way to ensure that all visitors enter and exit through the same door every time (granted, this may not include trips to the backyard).  The reason for using the most visible door as the main entrance is so that neighbors can spot potential problems. It also allows you, as the owner, to have access to all other exits should there ever be a need to get out of the home quickly.

When potential buyers are admiring your home, you have many things to remember.  First, never put yourself in a situation where you are alone in a room with a buyer. Always have an escape route or remain standing in the hallway.  Also, never let potential buyers out of your sight.  Allow them to walk freely through the home, but stay close behind in order to see where they are at all times.

By following the advice above, the process of selling your home will be a safer experience for you, your family and your realtor.  Paying attention to little details at the beginning can increase your safety in the long run.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137

As a buyer, you have probably heard over and over again how important a home inspection is in the home-buying process.  Home inspectors need to be certified and come with many good recommendations.  The security and health of your family depend on their attention to detail and ability to see things that are not visible to most other people.

When you are preparing to purchase a new home, the information provided in a home-inspection report is critical for protecting your family.  Here are the top ten findings of home inspectors, and what can be done to resolve the issues:

Inadequate Drainage
In most cases, you will realize that a home has inadequate drainage long before you purchase it.  You will probably smell dampness or see visible water damage along the walls of basement or crawlspace.  If a home inspector indicates that a home´s drainage is inadequate, you will probably need to repair or replace downspouts and gutters.  You may also need to install French drains or, in extreme circumstances, you might have to level the entire lot to facilitate proper drainage.

Out-of-Code Electrical System
This is a very common finding in home-inspection reports. The problem with bad wiring is that it presents a risk of fire and other problems, including ruined appliances and electronics. In general, an electrical system will need to be brought up to code before an occupancy permit can be issued for a home.

Leaking and Damaged Roof
A home inspector will check a home´s roof carefully to inspect the materials for aging and possible damage. In general, roofing materials can be replaced in small sections. Unless there is significant damage, a complete new roof will not be required.

Dysfunctional Heating System
A dysfunctional heating system can be a significant danger for the home´s inhabitants.  Most of the time, this sort of finding warrants replacing the heating system.  The good news for home owners is that furnace installations are relatively inexpensive. In addition, modern furnaces are much more efficient than those made in the past. A new heating system will most likely pay for itself in a few years, thanks to its lower utility costs.

Overall Poor Condition
An indication of overall poor condition means that the previous owners did not keep up on home maintenance.  Some of the indicators of poor condition might include haphazard repairs to the electrical system or plumbing, cracked walls, peeling paint, broken light fixtures, or non-working switches and outlets.  There might also be water damage or problems with the home´s foundation.

Structural Damage (Minor)
Most minor structural problems are easy to repair and do not pose a danger to the home´s inhabitants. The leading cause of minor structural damage is water damage.  Water that comes into the home through windows, doors, or cracks in the foundation will cause minor structural problems.

Plumbing Problems
A home´s plumbing should be up to code and composed of new materials wherever possible.  If a home inspector finds rusting pipes, lead-based materials, or broken fixtures, he or she will probably put these items on the home-inspection report.

Drafts
A home inspector will check to see whether the windows and doors of a home let air pass through.  If this is a problem, it can usually be fixed by re-glazing windows and applying silicone caulking around the openings.

Ventilation Problems
If a home seems to have a problem regulating moisture, chances are that the home inspector will indicate that there are ventilation problems.  This situation can be alleviated by installing fans and/or by adding windows that can be opened to bring fresh air into the home.  Attics require adequate ventilation for heat efficiency.

Environmental Hazards
Few home inspectors specialize in environmental hazards. Therefore, it is a good idea to have environmental inspectors assess the home for hidden dangers either before or after the home inspector has finished his or her portion of the inspection. Here is a list of some of the types of environmental hazards that may be present in homes:

• Lead-Based Paint: The presence of lead-based paint is extremely dangerous, yet a typical home inspector may not be able to locate the problem.  A special test must be performed to determine whether lead-based paint is present in a home.  Removing the danger involves a process through which the walls are either sealed or removed and replaced.  Lead poisoning is dangerous and can be fatal to young children.
• Radon Gas: A typical home inspector will probably not be able to detect the presence of this odorless and colorless gas that is known to cause cancer. If radon is discovered in a home, a mitigation pump will need to be installed to remove the gas.  This installation is expensive.
• Drinking Water Issues: A water test can determine the purity of your home´s water supply.  Correcting problems with the drinking water range from simple pipe replacement to the replacement of the entire home plumbing system, depending on the source of the problem.
• Leaking or Damaged Heating Oil Tanks:  A home inspector or heating system inspector should be able to spot a faulty oil storage tank.  Replacement is generally the only acceptable solution, but it is very expensive.

Conclusion
Now that you are familiar with the top ten problems that home inspectors find, you are better prepared to react to the presence of such problems.  You might be comfortable replacing a few missing roof shingles, but if the home has several of the problems described above, talk with the owners to find out how much they are willing to contribute to fix those problems.  They could offer to pay for repairs and updates directly, or they could agree to lower the home´s purchase price.

Ask your realtor for a recommendation for a local home inspector who is properly certified.  A home inspection is important for the health and safety of you and your family, and therefore the inspector should be chosen based upon the knowledgeable recommendations that you receive from others.

Knowing what to expect from a home inspection will make you a better homebuyer and a better homeowner.  Never skip the home inspection, because that would be like buying a vehicle sight-unseen.  You need to keep your family´s best interests in mind.  A home-inspection report that reveals significant problems is usually an acceptable reason for a buyer to back out of a sale.  Therefore, keep that in mind if you are unable or unwilling to do what is necessary to repair the flaws, backing out of the deal is one of your rights as a potential buyer.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137

When selling your home is a priority, you need to realize that an ordinary home with ordinary features is not going to grab potential buyers´ attention.  You need to go beyond ordinary and make your home irresistible to every homebuyer.

Regardless of whether you have owned your home for one year or forty years, you will probably need to make some changes to attract people who are looking to buy a home.  You probably loved your home when you bought it, so why shouldn´t you want to make people fall in love with it too? Naturally, you should!

Here are some ideas for making your home feel more open, airy and inviting.  Years of experience have taught realtors what people like and dislike when they look at homes for sale.  Learn from these experiences in order to make selling your home an exciting and pain-free process.

Apply a Fresh Coat of Light-Colored, Neutral Paint to Your Walls
The people who are considering buying your home want to see what it looks like.  Keeping this in mind, repaint any dark rooms with white or neutral paint.  You may prefer darkly colored rooms, but most buyers will be able to imagine their furniture more easily in a neutral-colored room.

White ceilings are always preferable.  If time is of the essence and you cannot paint entire rooms, quickly adding coat of white paint to the ceilings can make all the difference in the world.

Remove Flowered Wallpaper
Despite your personal home-decorating preferences, many homebuyers are turned off by wallpaper.  This is particularly true when the wallpaper contains large or brightly colored flowers.  If time allows, remove the wallpaper and paint the walls.

Painting over wallpaper is never a good idea. The biggest reason for this is that painted-over wallpaper looks terrible.  Potential buyers will realize that the paint has been applied to wallpaper that they will need to remove after buying the home.  Paint makes the removal process more difficult, so if you decide not to remove the wallpaper, just leave it alone.

Add New Ceiling Fans and Light Fixtures
As mentioned earlier, buyers like bright interiors.  They also like airy homes.  Therefore, installing a few ceiling fans or updating the fans you already have could help you convey the desired bright and airy feel to potential homebuyers.

Avoid Clutter at All Costs
Some real-estate agents will fail to tell you that clutter is a home´s worst deterrent for homebuyers.  People find it difficult to imagine how their own furnishings will fit into a room full of clutter.  Clutter also tends to make rooms appear smaller.

One of the ways that you can get ready for your own move while preparing to sell is to hold a garage sale or to make a large donation to a local charity.  You will need to sort through your belongings at some point, so why not start now? Begin with those things that always though you might use, but have been sitting in the attic since you put them there ten years ago.

Minimalism is best when you are trying to sell a home.  If possible, pack up some of your smaller décor items and leave out only a few conversation pieces.  If you plan to sell during the holidays, try to achieve a festive spirit without overdoing your decorating.

Place a Fresh Wreath or Floral Spray on Your Front Door
Buyers want to be welcomed by homes.  Placing a tasteful wreath or other decoration on your front door welcomes people into your home, making a huge difference in how fondly buyers remember your home.

You can extend the welcome further by placing similar décor items throughout the home. Stay away from eucalyptus and other strong odors, because they might be an irritant to buyers with sensitive nasal passages or allergies.

Pay Attention to What´s Happening in Your Kitchen
It´s always a good idea to have a clean kitchen, but when you are trying to sell a home you need to go beyond simple cleanliness.  If you know that a potential buyer is coming in this afternoon, bake brownies.  The scent will linger, making your home more inviting. Just be careful not to burn your tempting delicacies!

Buyers may subconsciously or consciously notice scents in the homes they visit.  Quickly dispose of any foul-smelling scraps or rotting produce. While your home is for sale, check daily for possible odor sources in your kitchen.

Wash your dishes and put them away, making sure that your countertops are immaculate.  Also, sweep your kitchen floor frequently to minimize dirt and crumbs.

Modernize Your Master Bedroom
Master bedrooms and master suites are extremely popular right now.  Therefore, if you want to wow a potential buyer, consider what is most fashionable and popular.  Visit a home-decorating supply store or look online for ideas that might help you to add new zing to your bedroom.

Even a new quilt or comforter can make a big difference for potential buyers.  The master bedroom is the homeowner´s sanctuary. Therefore, neutral tones are the best option.   Consider a light shade of green or blue as an accent color, since these tones create a relaxing and calming environment.

Consider the Value of Landscaping
In the past, a freshly mown lawn and some flowerbeds at the front of a home were enough to attract potential buyers.  This still holds true in some areas, but many of today´s homebuyers are looking for homes with attractive landscapes that do not require much maintenance.

If you hire a landscaper, ask him or her about what is most popular in your area.  Request that he or she use shrubs and plants that require little maintenance.  A good ground cover will reduce the need for weeding, saving you time while you are selling your home and making the home look maintenance-free from the curb.

Curb appeal is extremely important in the world of real estate, particularly since internet listings with photos are becoming increasingly common.  Your home needs to be as photogenic as possible.

These are some simple ways to capture potential homebuyers´ attention and make them feel welcome in your home.  A little effort on your part will greatly improve your chances of selling quickly. Of course, a few tasteful upgrades will also increase the value of your home.

Your realtor will be happy to work with you to maximize your home´s attractiveness to potential buyers.  Realtors know what buyers are looking for and how you can give those things to them! Years of experience have taught realtors what is most popular in your area, and what kind of home décor is most attractive to potential buyers. Listen to their advice, and then act upon it.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137

Whether you have accepted a job offer in another part of the country or have decided that it is time to move to a larger (or smaller) home, you will first need to sell your home.  Regardless of whether you have ever sold a home before, you will need to do some research and invest time before listing your home for sale.  Doing your homework will make you a more prepared and better educated home seller.  Your realtor will respect your willingness to be prepared, and buyers will be pleased to learn that they are dealing with a serious seller.

Here is a list of steps that you should follow after you have made the decision to sell.  Following these steps will allow you to assess your current financial situation with regards to your home and to be better prepared for the selling process.

If You Plan to Purchase a New Home, Begin Talking to Potential Mortgage Lenders
It may seem strange that the first step in preparing to sell your home is to investigate home loans, but your financial situation has probably changed since you purchased your current home. Mortgage programs change frequently with changing interest rates and the health of the economy.

Most lenders now offer mortgage pre-approvals to homebuyers.  Getting pre-approval is important, because you need to know whether you will be able to afford and be approved for a mortgage for the type of home that you are considering.

Once you have received pre-approval, you can feel secure in knowing that you will be prepared to complete a real-estate transaction of your own once your home has been sold.

Additionally, you will want to investigate “bridge loans.”  Lenders offer bridge loans for individuals in situations similar to yours.  The purpose is to help you to cover the expenses incurred should you need to purchase a new home before you can sell your current home.  Several different types of bridge loan programs are available and your lender is the best source for additional information.

Find Out How Much You Still Owe on Your Home, if You Have an Existing Mortgage
Your lender can provide you with detailed pay-off information about your existing mortgage, including any prepayment penalties.

Research the Value of Your Home
Whether you bought your home one year ago or 30 years ago, chances are that the fair market value will not be equal to what you paid for the home.  The best possible discovery that anyone selling a home can make is to find out that his or her home is now worth significantly more than the home´s original purchase price.  This does not apply only to those who have owned a home for a long period of time.  Sometimes certain developments and geographic locations increase in popularity quite suddenly.  In these areas, sellers may be selling with the intention of taking advantage of increased demand for their property and making a tidy profit.

Determine How Much You Cash You Will Need to Purchase Your New Home
Many sellers err by failing to consider the costs of buying in addition to the costs of selling.  Because you will need to pay closing costs and possibly a down payment, it is wise to have a contingency plan just in case you need to buy before your home is sold.

Add in the cost of moving-related expenses, particularly if you are relocating to a new city. Talk to your lender one more time and request a cost disclosure in order to ensure that you are not overlooking anything in your estimate.

Consider the Costs You Will Incur While Selling Your Home
Some of the costs that you will incur while selling your home appear only on the day of closing. These costs include agent commissions, a percentage of the property´s annual real-estate taxes, and the excise tax imposed at the time of the sale.

Still other costs will not become apparent until well after the time of the sale.  For example, a major cost associated with a home sale is the capital gains tax.  This tax applies only if the sale price of the home far exceeds the value of the home, yet many sellers find themselves subject to this tax.  There are very specific criteria for assessing capital gains taxes, and there are deferment options for sellers who plan to buy a home of equal or greater value within a certain amount of time following the sale.

If you anticipate facing a significant capital gains tax when your home sells, discuss your individual situation with a tax advisor or financial planner.  Your real-estate agent may prove to be an excellent asset and may be able to offer some suggestions if you are not already working with a tax advisor or financial planner.

Figure Out How Much You Will Earn When Your Home Sells
This step allows you to determine how much liability remains on your existing mortgage and how much profit you will earn.  If you expect to earn a significant amount from the sale of your home, you may be able to reduce significantly the size of the mortgage that you will need to purchase your next home.

Consider Repairing and Updating Your Home
Some home improvements are free, while others are extremely costly.  As a seller, you want to attract as many potential buyers as you can once the home is listed.  Therefore, investing in your home´s exterior appearance and landscaping may prove quite effective in drawing potential buyers through your front door.

Clean Your Home
Even if you have opted to forego updating, you must ensure that your home is sparkling when potential buyers view it.  Clean the bathrooms and kitchen daily while the home is listed for sale.  Take a walk through your home with the mindset of a potential buyer and try to spot any problem areas.  Cluttered garages or basements are a buyer turn-off, so take some time to de-clutter them, even if that means placing some of your belongings into a temporary storage unit.

Following these simple steps will increase the chance that your home will sell quickly and without any problems.  Remember that attracting potential buyers is as much your responsibility as it is your agent´s responsibility.  By presenting potential buyers with a home that they will want to drive by repeatedly, you are increasing your chances of receiving a great sale price.

Also, it cannot be stressed enough that you must know where you intend to live once your home is sold.  Some sellers have been forced to resort to renting after their home sold, simply because they did not keep this in mind.

Your realtor can help you determine which of the above steps will work best for your particular situation.  The expertise and experience of a licensed realtor will add to the benefits that you get when your home sells^.

^{Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137}

When your goal is to sell your home hassle-free, there is one sure way to make that happen.  Believe it or not, the only thing that you need to do is to understand how the selling process works.  When you have this information, you know what to expect and when to expect it!  There´s nothing worse than being surprised by part of the home-selling process while you´re mid-stream. Making a mistake along the way could cost you a lot!  Here you´ll learn about the step-by-step journey through the home-selling process.

The Decision
You will face several decisions during the sale process.  However, there is one critical decision upon which everything else depends.  That decision is whether to sell in the first place.  Often home owners have no other option when faced with a cross-country relocation due to a career change or a new addition to the family.  However, unless you are facing one of these situations, the choice to sell your home is generally just that ? a choice.

Think carefully about selling your home before making a final decision.  Do you have a clear idea of where you will live once the home sells? Perhaps your children have grown and you no longer need a large home. Or perhaps you have decided to marry your long-time sweetheart and you can no longer stay in that tiny bungalow.  Either way, there will be many things to consider before you can be sure that selling your home is the best solution.

Once you have made the decision to sell, it´s time to move to the next step in the process.

Preparation
Long before the “for sale” sign is erected on your lawn, you will need to begin preparing your home for sale.  Start with a complete top-to-bottom inspection of the home.  Remove any unnecessary clutter from the home, so that you are able to see what has been behind those piles for so many years!  Of course, disposing of unnecessary items will make the moving process much easier on everyone. Once you have cleared out those items that you do not intend to keep, it´s time to start looking over what is left.

In general, potential buyers are more attracted to homes that allow them to visualize.  Specifically, they want to visualize their family sitting around the dinner table, and they want to visualize their belongings where yours are now.  The less cluttered your home is, the easier it will be for buyers to do this sort of visualization.

You´ve probably come to the realization that you will need to remove even some of the things that you want to keep.  You can move extra furniture into the garage, or consider temporarily renting a storage space while your home is for sale.

You will probably be overwhelmed by how spacious your home has suddenly become, and you will probably also begin to notice its signs of age.  A fresh coat of paint and professional carpet cleaning will definitely improve the look of your home. Since the rooms are now much less crowded, now is the perfect time!

Finally, remove as much of your home´s personalization as possible.  For example, replace your family photo over the mantle with a large mirror or painting.  Take down your gallery of family photos, leaving this area open for the potential buyers´ imagination.

Once you´ve finished with the interior of your home, move to the exterior and focus on curb-appeal!  You need to make sure that the photos appearing in real estate listings make your home look as appealing as possible. Make sure that your lawn is in good condition, free from bare or brown spots.  Planting grass seed is simple and can make a huge difference in the appearance of your lawn.  Next, make sure that your shrubs are neatly trimmed to show potential buyers that you have cared for your landscape.  Keep the lawn free of toys, bikes and other items that can make it appear cluttered.  Finally, make your porches, decks and patios inviting! Consider buying new cushions for your patio furniture. Add a few large flowerpots filled with bright, seasonal flowers and make sure that the surfaces are clean and clear of clutter.

Once you have prepared your home for sale, you are ready to begin speaking with listing agents.

The Realtor
There is a saying among real estate agents that being number three is lucky.  The truth in this statement applies when you are interviewing potential agents to sell your home.  Although you may actually end up working with the first agent you speak with, you should definitely speak with more than one candidate.

When you speak with a potential real estate agent, ask him or her about the type of listing contract that you will be expected to sign, the agent´s philosophy on listing prices, and how your home will be marketed to other agents and potential buyers.  These three pieces of information are all critical. If an agent is unwilling to discuss these topics, then he or she probably isn´t your best partner in the sale process.

Avoid selecting an agent based up his or her estimate of your home´s value.  Going with the agent who will list your home at the highest possible price may seem like an attractive strategy, but later you may come to learn that your home is overpriced and that no one is looking at it.

Once you have selected an agent with whom you are comfortable working, it´s time to set the price!

The Price
As mentioned earlier, it is wise to work with an agent who wants to list your home according to its market value, rather than with one who wants to put the highest price tag on the home.  While the allure of extra profit may be enticing, keep in mind that overpriced homes stay on the market longer and their ongoing selling costs end up eating away at your profits.

Overpricing and under-pricing can be avoided when you have done your research and made it clear to the listing agent that you have a good estimate of what the home is truly worth.  So how do you go about determining that price?

Ask the agents whom you are interviewing for a CMA (competitive market analysis), which will allow you to see the listing and selling prices of recently sold homes in your area, as well as the listing prices and length of time for sale of other homes in the area.  If you find that homes with a similar size and features are selling for $500,000 in your neighborhood, a price of $490,000 will get the home sold in a hurry and a price of $550,000 will definitely draw potential buyers.  However, a listing price of $800,000 will aggravate buyers´ agents and discourage people from looking at your home at all.

Now you have a good idea of how price affects the length of time for sale and why correct pricing is critical.

Overview
Not paying attention to these four areas of home spelling can be a recipe for disaster.  In order to successfully sell your home, you definitely need to be prepared with a ready-for-sale home, a great realtor, a good idea of your home´s value, and the right price.  If all of these factors receive adequate consideration, it is almost guaranteed that your home will sell quickly and with as little hassle as possible.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137

As you consider buying your first home, you undoubtedly have hundreds of questions about the process. These questions begin as soon as you start thinking about moving and continue far beyond the closing. What should I expect? How can I prepare? Am I ready to own a home?  These questions are perfectly normal and are to be expected from first-time buyers.

In order to make the home-buying process as easy and smooth as possible, you need to know exactly what to expect .  By reviewing the following information, you will be well prepared to begin the process of buying your first home.

How Much Can You Afford?
The first step in buying a home for the first time is making sure that you can afford the home you plan to purchase. Even if you haven´t already found the home of your dreams, you probably have a fairly good idea of the type of home you would like to purchase.  However, you may or may not realize how much you can actually afford to spend on housing each month.  Surprisingly, speaking to a lender about your financial situation may not be the best place to start.

Lenders look at your debt-to-income ratio and not necessarily at your day-to-day spending habits.  Therefore, they will know if you have several credit cards that are responsibly maintained and a car loan that was paid off in full last month.  But they may not realize that you opt to spend several hundred dollars each month on the latest fashions or videos.  Begin tracking where and how your money is being spent and how much of that spending can or will be curtailed when you purchase a home.

Financial Counseling and Pre-Qualification
A financial advisor can help you to assess your financial information and determine how much home you can afford to purchase.  Speak with a financial advisor before beginning the search for your first home ? and know that there is one other thing you can do to ensure that you are looking at the right homes for your price range.

Most mortgage lenders are happy to complete a pre-qualification process for potential buyers who need to find out ahead of time what size of mortgage they can qualify for.  The pre-qualification process is not a guarantee that the lender will offer you funding, but it does takes into consideration your credit score and income level in order to determine how much the lender might be willing to offer through a mortgage program.  The process will also enable you to begin comparing the mortgage programs offered by different lenders.

Shopping for Lenders
With interest rates declining, you need to make sure that lenders are giving you the most competitive mortgage options and interest rates.  Talking to several lenders will help you decide which one can best serve your interests.

Ask the lender about the details of each program that you are considering, including the closing-cost requirements, down-payment percentage, and any early-payoff costs that your might face. Mention that you are a first-time buyer, because this could potentially make a difference in the types of programs that a lender offers to you.

Once you have selected a lender, make sure that the specific mortgage program you are considering is right for your borrowing needs. I can help you find a mortgage professional if you like, I have a list of individuals that I can recommend to you  that reside in Charlotte/surrounding areas.

Here are two of the most common types of mortgage programs:

Traditional 15- or 30-Year Fixed-Rate Mortgage
This type of mortgage loan usually has a 15- or 30-year payoff (amortization) schedule.  Over the years, you make equal payments that are applied to the interest and principal in varying proportions until you completely pay off the loan.  The interest rate does not change.

15- or 30-year Adjustable-Rate Mortgage (ARM)
The ARM is declining in popularity as a result of better fixed-interest rates with traditional mortgage programs.  However, sometimes a new homebuyer will want or need to purchase a home that is more expensive than what he or she can afford at the time of the purchase.  ARMs, which come with low introductory interest rates that are almost always locked-in for the first five years, can be a good option.  After the introductory period, the interest rate becomes variable and may drop or skyrocket, changing throughout the life of the loan according to a pre-defined time schedule and market interest rates.

Finding an Agent
First-time buyers often call the listing agent for homes that interest them, but this may not be the best way to protect your interests throughout the purchase process.  When a potential buyer works with a listing agent to purchase a home that is listed by that particular agent, the result is double agency. Double agency simply means that the buyer and seller have the same agent, who represents both parties and therefore cannot release information that could harm either party.

To find an agent, consider the area in which you want to buy. A local agent will be familiar with the area and can recommend specific neighborhoods for people with your particular lifestyle.  You can also request recommendations from friends and family members.

Before signing a contract with an agent, ask about the commission rate, although this cost is generally covered by the seller´s portion of the closing expenses.

Make sure that your agent understands what you are looking for and how much you are prepared to spend on your home.  As a first-time buyer, you need to work with an agent who is familiar with programs and lenders who specialize in working with first-time buyers. Please let me be that agent. I can be reached on my cell phone at (704)840-4137. My name is Rod Potter, I can help you find a home.

First-Time Homebuyer Programs
Many programs are designed specifically to assist first-time homebuyers with benefits like down-payment assistance and no closing costs.  Others offer first-time buyers competitive interest rates designed to make borrowing easier.  First-time homebuyer assistance programs almost always apply to anyone who has not purchased a home within the past three years.  Therefore, even if you are not a true first-time buyer but you have not bought a home in the past three years, you may qualify for these programs.

Conclusion
First-time homebuyers who approach the home-buying process with adequate preparation can be some of the best customers for lenders and agents.  If you are thinking of buying a home for the first time, do your research and plan for your home purchase.  Doing so will make you an educated consumer and give you a good chance of finding the best home for the best price.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137