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How To Lose A House in 10 Days

by Denise D'Amico
 
How to Lose a House in 10 Days
 
 
 
Home buying is arguably one of the most stressful purchasing experiences in adult life. Why is the process so draining? Unfortunately, there are myriad of issues that can make a deal fall through – especially if you aren’t working with a professional agent. RE/MAX has 10 ways you might lose out on your dream home and how working with an experienced RE/MAX agent can help you avoid them:
 
1. You don’t have enough saved up for the down payment Surprise! Homes are expensive. In addition to closing costs, there can also be unexpected fees around every corner. Make sure that you have significant cushion savings in addition to whatever you plan on putting down for your house-you never know how these things will play out.
 
2. You don’t have your ducks in a row Staying organized is essential when you’re house hunting. Are you serious about the bid you’re putting down? Make sure that you’re fully aware of all deadlines, contingencies and paperwork involved in moving forward with your home purchase.
 
3. You’re shopping way out of your budget As Andie Anderson puts it in How to Lose a Guy in 10 Days, “You can’t lose something you never had.” Looking for houses that are priced outside of your budget is the first way to “lose a house” – you’ll lose out on a home that you never had a chance of buying. Pre-plan for the strong possibility of putting in an offer above the asking price. This may mean looking at homes listed a few thousand below your budget to create padding in your budget to make a higher offer.
 
4. You lose a bidding war Quick, decisive, assertive-these are all necessary traits to win a bidding war. Working with an experienced RE/MAX agent who can negotiate on your behalf is a great way to ensure you play your cards right. Remember, all is fair in love and [a bidding] war.
 
5. You come down with a bad case of buyer’s remorse What’s the most obvious symptom of buyer’s remorse? Cold feet. Sales contracts fall through all the time because buyers back out at the last second, succumbing to the fear of such a life-altering decision. Keep your wits about you and trust your gut.
 
6. You close too slowly Sellers are trying to get sales contracts through as swiftly as possible. In this climate of high demand and limited inventory, residential real estate is a hot market. There will almost always be someone behind you, vying for your potential future home – if you really want it, work hard to satisfy the seller and make things official as soon as possible.
 
7. Your inspections aren’t timely Speaking of closing quickly-inspections are sure to take some time. If you’re lucky, all you’ll need is one inspection. If an inspector discovers any problems, you’ll have to start making appointments with specialists to look further into the house’s issues. This is a race against the clock, limited by the timeframe set out in the sales contract. Don’t waste any time getting the inspections going or you might find yourself without a house to inspect.
 
8. Your seller isn’t happy with their appraisal An appraisal that comes in lower than anticipated is always taken by the seller as a personal blow. This proves to be an issue for the buyer, too. Either the seller will become difficult or, even worse, you’ll have to pay the difference between the appraisal and the sales price out of pocket. Make sure to keep communication with the seller open and diplomatic when frustrations are running high.
 
9. You can’t secure a mortgage You’re so close to the finish line-and then your mortgage application is declined. Apply for pre-approval so the seller knows that you’ll be able to buy their home. If you are proactive throughout the buying process the odds of you losing the home are significantly slimmed.
 
10. You don’t have an agent on your side None of the above issues are simple. Having someone on your side that knows the ropes of the home buying process is the most valuable tool in your home-buying box. Don’t go it alone-let a professional help you with the most important purchase of your life. Going agentless can leave you more vulnerable to losing a house you have your eye on. Without an agent you’ll find yourself drowning in the details.
 
Don’t make a bet or pick someone random. Call The Denise D’Amico Real Estate Team today at 847-551-9290 or email Denise.

5 Tips For Purchasing A Home in a Seller's Market!

by Denise D'Amico

 

 

5 Tips for Purchasing a Home in a Seller's Market!

 
Purchasing a home in a Seller's market doesn't have to be challenging.
Some preparation and a strategy may give you an advantage over other potential buyers and increase your chances of having your offer accepted by a seller.
1. Get lender preapproval or prequalification. Determine your loan options and obtain a pre-approval letter from a lender prior to beginning the home search. Some homes are going under contract within days, if not hours, so being able to move quickly with financing is often a plus. The letter gives you an idea of how much home you can afford – so you can easily eliminate homes not in your price range – and lets sellers know you have been vetted financially. Remember, being pre-approved does not guarantee a mortgage – be prepared to shop around with different lenders or work with a mortgage broker.
2. Be available to close as quickly as the seller requires. A seller wanting to close within 30 days may not be interested in an offer from a buyer who also has a home to sell prior to closing on a new one.
3. Offer more earnest money. Earnest money, typically 1% to 5% of a purchase price that eventually goes towards a down payment, is held in escrow until a sale closes. By offering more earnest money, you’re letting the seller know that you’re a committed buyer.
4. Make your best offer. In a seller’s market, you probably won’t be able to present an offer that’s below the asking price. If you love the property, present the seller with your best offer price.
5. Include an escalation clause. If you want your offer to compete with multiple offers, consider having your real estate agent include an escalation clause. The clause details how much you’re willing to pay over competing offers. Including an escalation clause in your offer is another way to show a seller that you’re a serious buyer. Still unsure how to navigate the housing market as a buyer? The right home starts with the right agent.
 
Contact Denise D'Amico at The Denise D'Amico Real Estate Team to purchase your dream home. With 24 years experience The Denise D'Amico Real Estate Team can help you achieve your dreams.

Make Your Home Buyer Friendly

by Denise D'Amico
 
 
Make Your Home Buyer Friendly
with Focused Staging
 
 
You’ll want your for-sale home to look its best. And that requires focus. Focused staging, that is.
 
Staging your home can increase the offer amount by up to 10%, according to the National Association of Realtors (NAR) Profile of Home Staging. But what if you haven’t the time or cash to stage the whole house?
 
You focus on the rooms that push buyers’ buttons. A messy mudroom may not kill your sale, but an unusable kitchen or master bedroom may be a deal-breaker.
 
Few buyers can see beyond your personal style, particularly in hot-button areas like the living room, kitchen and master bedroom. So concentrate on staging these.
 
According to the NAR Profile, the living room is one of the most popular to stage. Make it feel larger by replacing bulky furniture with smaller pieces. Help buyers to imagine their things here; leave lots of space on shelves and around furniture.
 
In the kitchen, declutter countertops, the fridge and inside cabinets (yes, buyers willlook). Add color with a bowl of fruit.
 
“Most bedrooms don’t need much more than the bed, dresser, end tables, and a mirror,” the article suggests. Make the bed the focus with beautiful, but not necessarily expensive, linens.
 
A clean bathroom is a saleable bathroom. The master bath, especially, should gleam. Add attractive towels and battery candles for atmosphere.
 
And don’t forget to tidy the outside. You know what they say about first impressions.
 
If you are thinking about selling your home and we'd be glad to share our proven staging ideas
with you. You can contact the Denise D'Amico Real Estate Team at 847-551-9290 or e-mail us.

3 Reasons Why A Home Isn't Selling!

by Denise D'Amico
 
3 Reasons Why A Home Isn’t Selling!
Have you ever driven by a For Sale sign and wondered, “That house has been on the market for a long time, I wonder why it isn’t selling”? You might have asked that question because you were worried the same thing would happen when you put your own house on the market!
 
Often a home doesn’t sell for one of three reasons:
1. The price is too high.
Sometimes a homeowner will set the listing price exceptionally high in the hopes of getting lucky. What happens instead, however, is potential buyers stay away. In today’s real estate market, a house usually sells at a price that is close to its market value. Fortunately, the current market value of your house - and, hence, its approximate selling price - may be higher than you realize. It’s worth getting a free market assessment.
2. The house doesn’t show well.
Sometimes a house is strategically priced for the market but doesn’t show well. It’s difficult for buyers to look past issues, such as clutter, and see the potential. In those cases, prospective buyers who view the property, don’t like what they see, and move on. If you put your house on the market, make sure it looks its best for prospective buyers.
3. The listing is poorly promoted.
Clearly, buyers won’t become interested in a property if they don’t know about it. The listing must be promoted effectively, and that involves more than a For Sale sign. Want more tips on selling your house?
 
Call Denise D'Amico today at 847-551-9290 or e-mail me at denisedamico@remax.net

OPEN HOUSES---Sunday, April 22nd

by Denise D'Amico
 
 
Visit our 2 OPEN HOUSES
in the gated Glen of South Barrington
Sunday, April 22nd from 1:00pm to 3:00pm
3 Ambrose Lane offered at $1,099,000
and 12 Corey Drive offered at $897,000
Please stop in and see
Denise D'Amico
and
Matt D'Amico
 
3 Ambrose Lane
South Barrington
 
 
12 Corey Drive
South Barrington
 
 

17th Annual Scarecrow Festival

by Denise D'Amico

 

Everyone is invited to Barrington’s 17th Annual Scarecrow Festival, a family-friendly FREE event held at Memorial Park (Hough and Lincoln Avenues) from 11:00 a.m. to 2:00 p.m. on Saturday, October 21, 2017.

This extremely popular event is emceed by Bob the DJ and features free pumpkin, scarecrow, and cookie decorating. Also on tap are pony rides, inflatable games, face painting, and other fun activities throughout the day. Pumpkins, cookies, and painting supplies are provided for free; please bring old clothes for scarecrow decorating. Food and beverages offered by Kooker’s and Gnarly Knots Pretzel Company will also be available for purchase. The event is sponsored by ChiroFit, Heinen’s Grocery Store, Costco, and the Village of Barrington. For more information, please go to www.barrington-il.gov.

4 Potential Surprises When Buying A Home!

by Denise D'Amico
 
4 Potential Surprises When Buying A Home

 

No. 1: Low inventory means you have to act fast!
In many cities around the U.S., inventories are tight, meaning there are too few homes on the market for potential homebuyers. Homes in good condition that are priced appropriately sell fast. The competitive market means buyers may find a home and make a serious offer in just a few days (sometimes 24 hours!). In extremely low inventory markets like Denver, Seattle and San Francisco, buyers may end up in bidding wars, paying more than the home's asking price. Professional real estate agents understand the unique trends in your market and can help buyers zero in on the right house and act quickly.
 
No. 2: ... But closing takes longer than you think.
According to Realtor.com, the average home sale takes approximately 50 days from the moment your offer is accepted to the time you move in, but this is contingent on a variety of things. As the days tick by during this comprehensive process of inspections and appraisals, you may find yourself impatient to move in and add Pinterest-worthy decor. The good news? Advanced technology has helped streamline the exchange of a vast amount of paperwork. And, an experienced real estate agent will be able to set expectations and keep you informed every step of the way. While you anxiously await the keys to your new place, you can occupy yourself by preparing your things for the move and planning an epic housewarming party.
 
No. 3: Home inspections leave nothing uncovered.
For the benefit and protection of a new buyer, most home inspectors conduct a very thorough inspection of your new home, leaving a detailed and often intimidating list of recommended repairs and improvements. Remember, not every item on the list may need to be repaired for the home to be safe or for you to take possession. Yet again, your real estate agent will be able to walk you through this lengthy report, advising you on what you can and should ask the sellers to consider fixing.
 
No. 4: Closing costs may leave you asking:
"I owe WHAT?" Just when you think you know the bottom line, some additional closing costs can sneak up on you. Things like loan origination fees, prepaid property taxes, title insurance and more can add up at the end of the process. In fact, on average, closing costs can range from 2% to 5% of your home's purchase price. Now that you know, you can ask The Denise D'Amico Real Estate Group for more details and factor this in when you prepare to buy.

Encouragement Corner

by Denise D'Amico
 
ENCOURAGEMENT CORNER
 
 
Thomas Jefferson’s Ten Rules for a Good Life.
 
Never put off till tomorrow what you can do today.
 
Never trouble another for what you can do yourself.
 
Never spend your money before you have it.
 
Never buy what you do not want because it is cheap; it will never be dear to you.
 
Pride costs us more than hunger, thirst, and cold.
 
Never repent of having eaten too little.
 
Nothing is troublesome that we do willingly.
 
Don't let the evils which have never happened cost you pain.
 
Always take things by their smooth handle.
 
When angry, count to ten before you speak; if very angry, count to one hundred.

4 Things Only A Realtor Knows About Real Estate

by Denise D'Amico
 
 
4 Things Only A Realtor (and not the Internet)
Knows About Real Estate
 

According to the National Association of Realtors, 42 percent of homebuyers start their home search online, and 92 percent use the Web during the home search process. While the Internet can be a good place to start looking, there are things real estate agents know about the process of buying and selling a home that can't be found in any Web browser.

Here are a few.

1. How to price a home When setting a listing price, agents consider scores of factors, from local and national market trends and neighborhood development activity to the latest buyer preferences for kitchen appliances and landscaping. Every home is unique, and an agent with a track record of success knows how to price it attractively in the market. The Internet isn't always much help when it comes to comparison shopping, either. Many of the same factors that help an agent set an appropriate listing price aren't available in an algorithm, so online estimators aren't always accurate – and could be costly if you purchase without consulting a real, live professional.

2. Marketing offline While online marketing can certainly be valuable, agents have networks of contacts and years of experience to round out their marketing plans. And, for buyers, agents often can tap into their network to learn about great properties before they hit the real estate websites or even the MLS.

3. Key points in the process If you find a home you love online, the website won't be there to guide you through a mortgage application, find a home inspector or advise you what to do if an inspection reveals issues.

4. How to negotiate Having an experienced, professional negotiator drive your transaction can be vital to reaching a fair price for the property you're buying or selling. A website can give you an estimate of how much a property should cost, but it can't evaluate whether that's a great price or not.

To make sure you get the most home for your home when buying, contact Denise D'Amico at the Denise D'Amico Real Estate Group.

Virtual Tours of Sold Homes

by Denise D'Amico
 
 

 

Displaying blog entries 1-10 of 219

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