I am a firm believer in practicing what I preach! On that note, I thought I would share with you what we accomplished yesterday, on Mothers Day! I know, most women spend time being pampered. Time is limited for us these days so I chose to spend my day working hard with my family. We ripped down the wooden fence that was damaged during Superstorm Sandy and we also removed the kids huge wooden swing set that had also seen better days since Sandy. We still have a ton left to do, power washing, deck finishing, landscaping, grass seed as well as some remaining construction but we are well on our way. It is a work in progress for us, it always has been, but at least we are progressing forward these days and not regressing!
Happy Mother’s Day
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It is amazing what the simple act of cleaning up outdoors can add to your selling value. Buyers make snap judgements all the time. They look at how a home is maintained inside as well as outside. Keep your outside well maintained this Spring to make sure all the potential buyers that do a “drive by” first see your home at it’s best. Keep in mind that a drive by in our neck of the woods may also be by boat, not just by car in the front of your house…make sure your decks are well maintained. There are fantastic stains available at your local hardware stores. Keep it simple and neutral when picking your color choice. Grab a power washer and clean off the walkways, your siding, and anything else that has the grime from the past seasons laying on it! After it is cleaned up, treat your wooden decks with a one coat sealant available in so many different options. Buyers will believe that your home is just as immaculately maintained inside as well as outside and we can’t sell your house unless we get the potential buyer to step inside….
Posted in amityville, Babylon, Curb Appeal, Garden, house for sale, real estate, todaybythebay, Village, waterfront | Tagged amityville, beach, curb appeal, homes for sale, property, real estate, sandy, spring, todaybythebay | Leave a Comment »
There is a tremendous amount of activity these days in the real estate market here in the friendly bay village. I am going to give you the scoop on what is means when you read the words “as is” on homes for sale today by the bay…
“As Is” is a term that has always been used in the real estate industry. In past years it may represent a home in disrepair, without appliances, possibly fire damage, or any other condition that is not typical. It is almost akin to what you see is what you get. The owners will not be negotiating anything that a potential buyer may want and that the house is simply “as is”. It may be a simple broken dishwasher that is “as is” or a wooden attached deck that is falling apart that is “as is”. The term is broad in its scope.
Unfortunately in the aftermath of Superstorm Sandy most of these “as is” homes refer to water damaged homes. Some may have been remediated completely, some may have nothing done to them at all. There may be mold, the house may be totally gutted down to the studs, or some repairs may be started. Each home will be in a different state but the most important thing to remember is if the listing states “as is” there is to be no negotiations for things that a buyer may want. It is up to the buyer to put back the sheet rock, fix the electrical system or purchase appliances. Every situation will be different and buyers should be well-educated in the costs to bring these homes up to current building codes. This leads us in the financing of purchasing homes in these conditions.
Many “as is” homes are being sold for cash. Investors are seizing this opportunity to purchase lower valued homes and then fix them up. Some may plan to rent for a few years as the market continues its recovery while others may fix and immediately flip it back onto the market. Other progressive home buyers are purchasing the home of their dreams even if there is no sheet rock. There are loan programs such as a 203K loan which will incorporate the construction repair costs into the loan and they will in essence re-build the house as part of their mortgage agreement. This program allows a home buyer to purchase a house much cheaper than they would have been able to afford and then pick out the bathrooms and kitchens of their dreams. The bank will have some limitations in place and of course help oversee the process to make sure the appropriate equity is invested into the home but it is a fantastic solution to rebuilding the neighborhood.
I will warn you that buying an “as is” home is not for the faint hearted. There is a lot to consider and tons of research to be done to ensure all repairs are up to current building codes. Make sure your realtor knows what to look for…or you can just call me and I will be happy to help!
Oh yes..one last thing…these homes can not be considered a fair comp when appraisals are performed…but that is a story for another day.
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If you are thinking about selling make sure to pay attention to your landscaping details. Some flowers and black or brown mulch go a really long way in adding to your curb appeal.
You don’t need to spend a fortune this year to give yourself the curb appeal to set your home apart from your competition. Sprucing up your entryway is one of the most important things you can do this spring. The first impression of buyers is often a lasting impression. Many simply do a drive by of the house to see if they are interested in taking the next step. Take a look at your own front door and these examples to see how your can add some curb appeal of your own!
The market today is different than it was 6 months ago. We have regular economic factors as well as the aftermath of Superstorm Sandy to thank for all the changes both positive and negative. Call a proffessional when making the decision to buy or sell.