The economy is forcing many of us to make some tough choices. We’ve been trimming luxuries from the budget and adjusting our lifestyles to conserve funds. Many people are relocating for a much needed job. Most of us are cutting costs wherever we can. Some home sellers have chosen to forgo the call to their Summit NJ realtor in favor of listing the home as for sale by owner (FSBO) in order to save money. Others question whether or not this move is wise considering the current market trends. In today’s market is a FSBO a good idea?

The answer is a definite maybe. Selling as a FSBO is doable, no matter the market. However, it is not an easy task and it’s never as simple as it seems. It takes a great deal of work to market and show a home, find the right buyer and negotiate a selling price. A Summit NJ real estate agent doesn’t make a commission for doing nothing. If you are considering a FSBO, carefully consider the pro and cons of doing so and the personal commitment you will have to make to do it. Be sure that you are ready and able to take on the responsibilities that selling a home demands.

Pros
The biggest plus to putting your home in the Summit NJ listings as a FSBO is of course money. You will not have to pay a seller’s agent a commission. Thus, your net profit on the home will be a bit larger. This is the sticking point for most home sellers who choose FSBO transactions. You also won’t have to go through the hassle of interviewing and choosing the right real estate agent. You won’t have to wonder what is being done to market your home or if it is getting the proper attention from you agency. You’ll have more control over the entire process, including when your home is shown and when or if you hold an open house.

Cons
For many Summit NJ real estate sellers, the biggest deterrent to a FSBO is the time commitment required. You will spend a large amount of time researching prices, creating a marketing plan and implementing your strategies. You will also have to field all the calls and deal with all the potential buyers. This will include the hopelessly unqualified, the looky lous and the bargain hunters. You will have to sift through a lot of undesirable buyers before you find the right one.

You’ll be showing your home to strangers in the evening and on weekends. You may even have to take time off work to accommodate a potential buyer. Not everyone can afford to miss work, even to sell their home. Be sure that you are able to schedule the time to do the legwork.

Another major con is the potential for error in a FSBO. If you have never sold a home or are unfamiliar with the process there are any number of place where a mistake can cost you more that you would save in commission. Pricing, for example, is a common place for mistakes. Many sellers simply overestimate the value of their home because they are unable to be objective.

If you choose to list as a FSBO, take advantage of the wealth of information available to you online. There are support groups, informational websites and even realtor sites containing excellent advice. This site has a section devoted to helping FSBO sellers, too. Don’t be afraid to ask for help.

Placing your home in the Summit NJ listings means getting into top condition first. Small repairs will cost you less money if you do them yourself now rather than making a concession for them later. While you home probably won’t need a major renovation, it could probably use a few fix ups. Plan you repair budget wisely to get the best pay off for your dollar.

Doors and windows
The latest report from the National Association of Realtors puts new doors at the top of their annual list for repairs that add the most value for their cost. Replacing an old wooden door for a fresher, safer exterior door will give your Summit NJ real estate property a whole new look. It’s sure to impress buyers.

Another impressive update is adding energy efficient windows. It may not be a particularly exciting change but it’s certainly attractive to buyers. Replacing your old, drafty windows will make more of an impression on buyers than decorative fixes like light fixtures because it will impact their monthly bills.

Flooring
One of the most commented upon features in a home is the flooring. Your Summit NJ realtor hears it all the time. Hardwood floors are very desirable right now so if yours are covered in broadloom, you may want to consider revealing them. Even if you uncover the wood flooring in one main room of the living area, it will give the buyer a sense of what lies beneath the rug in the rest of the home. If you don’t have original hardwood floors, consider you budget and think about having them installed. If your listing includes the words “hardwood floors” it automatically garners more interest from buyers.

Roofing
If your roof is old or in need of repairs, go ahead and add a new roof to your budget. You won’t be able to conceal it from a home inspector and no one wants to hear bad news with a closing date already scheduled. The cost of replacement will likely be less that the concession you would have to make when the home inspection is completed. Plus, a new roof also looks great in your listing details.

Walls
Fixes to the walls are usually the least expensive on the home seller’s to-do list. Your Summit NJ real estate agent is probably going to ask you to apply a fresh coat of paint anyway, so it’s a good time to patch any holes and repair any damaged spots. A quick lesson at the local hardware store is sufficient to teach most home owners how to make small repairs. This quick and simple step will give your home a fresh, clean, new look that buyers will appreciate.

A few repairs can really pay off when you list your home. Plan out a budget and your home will be a show stopper on the market.

The much anticipated spring selling season is just around the corner in the Summit NJ real estate market. Many area home owners are gearing up and getting ready to sell. Some are hoping to capitalize on the current buyers’ market and find a great deal on an upgrade. Others are downsizing, expanding their families and moving for the myriad reasons people everywhere move. The one thing they all have in common is that they will soon be spending a lot of time trying to clean up and clear out their clutter.

Clutter busting is one of the first and best things a home owner can do to speed up the sale of his home. It’s the first step to great staging which is the first step to a fast sale. Your time in the Summit NJ listings will largely be determined by how well your home presents to potential buyers.

Remember the purpose of staging your home. It’s not to please your Summit NJ real estate agent or to get a jump on packing, although it will accomplish both of those tasks. The real reason we stage our homes is to neutralize the décor so that the buyer can imagine himself living there. If your home is full of little reminders of you and your life there, the buyer will be distracted and unable to focus on the selling points of your home.

So what steps do you need to take to move out the clutter and move on to your next home? Here are a few ways you can start busting the clutter in your home.

Family photos. Pictures and portraits are fun and give a home a personal appeal. However, that is the opposite of your desired effect when you’re staging. Wrap them well in bubble wrap and tissue and get them boxed up. The table tops and bookshelves should be cleared off and visible and the wall should be minimally dressed.
Toys. Everyone in the family will have to make some concessions if you want to sell quickly. Pack up the outgrown toys and turn the playroom back into a dining room or office.
Furniture. The furnishings you’ve chosen may seem like just the right fit for your home but there’s likely too much in the house for a good showing. Your Summit NJ realtor can help you choose what pieces are interrupting the flow of traffic through your home.
Clothes. Make your closets look spacious and well organized by reducing the contents. Once the weather has turned warm, you can pack the bulky winter wear up and your closets will suddenly look twice as large. Do the same in the garage with winter tools like snow shovels and blowers.

If you take the time now to clean out the clutter, you’ll probably make it to the closing table much faster.

Changing Realtors

Many relationships, both business and personal, fail.  It’s an unfortunate fact that not every pairing is made in heaven, whether it’s a friendship, a marriage or a business partnership.  You may find yourself wondering whether it is time to “break up” with your Summit NJ realtor and find a better match.

Why would I change real estate agents?
People switch agents for any number of reasons.  They may not feel that their Summit NJ real estate agent is aggressive enough.  They might not like his marketing techniques or there could be a personality clash.  It could even be a matter of ethics.

Can I legally change realtors?
The answer to this question depends on whether or not you have signed a buyer’s or seller’s representation contract.  If you have, you are obligated to stick with your agent till the contract ends.  Then you are both free to do what you like.  If you have not made any contractual agreements, then you are free to choose another agent at any time.

Is it a good idea to switch realtors?
This point is not as clear as the legal conundrum.  When you are buying or selling Summit NJ real estate, you should try not to bounce from agent to agent because word gets around.  You won’t want to be seen as a problem client.  Change agents only if you feel the work is truly not being done.  Before you make the switch, carefully consider your expectations and determine if they are reasonable.  You may want to talk to a friend or colleague to see if you could be in the wrong.

When should I make the change?
If you have signed a contract, you cannot legally switch realtors till the contract has elapsed.  On a more person note, you should not feel badly about switching agents if they are not doing the work.  Marketing a home is hard work and it takes a lot of effort.  Combing the Summit NJ listings for the right home for someone else is just as hard.  Your realtor should be working hard for you and if he isn’t, it’s OK to find someone who will.

Is there a proper etiquette for this situation?
There is no official policy for dropping a realtor but basic etiquette applies.  A brief note, written with kindness, stating your reasons for changing would be appropriate.  A realtor cannot improve if he does not know what he is doing wrong.  You might even be able to salvage the relationship with a dose of honest communication.

It’s not healthy to stay in a bad relationship and that includes business partnerships.  If your partnership with your realtor has failed, assess your goals and your expectations and move on to a healthier relationship.

There’s been a lot of talk in the news about adjustable rate mortgages.  Most of it has been bad press.  This type of mortgage has been blamed for the rise in the national rate of foreclosures and for the general downturn in the economy.  So why are some Summit NJ real estate buyers still signing up for an ARM?

There are some benefits to having an adjustable rate mortgage, despite all the negative news surrounding them.  If you’ve been looking at Summit NJ listings and considering buying, there are some benefits to using an adjustable rate mortgage that you should consider.  Before you sign with a lender, you may want to talk with a HUD-approved mortgage counselor to learn more about the potential risks and benefits.

The payments for this type of mortgage, unlike a fixed rate mortgage, will not remain the same over the life of the loan.  At specific scheduled intervals, the interest rate will change in accordance with the terms of the contract and current market rates.  It’s these periodic adjustments that make this type of mortgage a bit riskier than some others.

Like all mortgages, an adjustable rate mortgage works best in a certain set of circumstances and within particular economic trends.  Talk to your Summit NJ real estate agent about your plans for the home and the types of financing available in your area.  Your lender can also help you crunch numbers and make an educated choice.

An ARM usually comes with a significantly lower introductory rate than a fixed rate mortgage.  If rates are falling, an ARM can help you save some cash early in the loan.  If you only plan on staying in the home for a short time, you may be able to finance a lower monthly payment with an ARM.  You can use the extra to pay down debts and build saving or retirement funds.  If you live in the home for 10 years or more you may be better off with a fixed rate.  You may qualify for a larger mortgage with an ARM, which could be a good thing or a dangerous temptation.

If you think an ARM might be a good choice for you, be sure you have a very clear understanding of the way these loans work.  There is a very good chance that your interest rate and thus your monthly payment will go up at some point.  You must be prepared for this eventuality.   Ask your Summit NJ real estate agent to recommend a HUD approved mortgage counselor to go over all the options and guide you to the best choice.

Smart, well-planned renovations will almost always upgrade a home’s selling power. Updated homes show better and usually sell for more than their more dated counterparts. If you are thinking of placing your home in the Summit NJ listings, now or in the near future, you may want to consider renovating the less attractive features of your home. And there’s no better way to renovate than with eco-friendly methods and products.

“Green” renovations are the newest trend in home maintenance and for good reason. They can decrease your cost of ownership, increase your resale value and lessen your personal impact on your planet. Green improvements made to your Summit NJ real estate property can be divided in to two categories: the seen and the unseen. If you are thinking ahead for resale value, you’ll want to strike a good balance between the two.

Visible “green” touches will grab the attention of observant buyers. Bamboo is a popular and eco-friendly choice for flooring. It’s also quite beautiful. It lends a modern and stylish touch to a home with its warm golden tone and linear look. Bamboo grows at an incredibly fast rate and is considered one of the most easily renewable choices for wooden surfaces. Recycled stone, composite or concrete countertops make a green statement, too. Details like this tell buyers that yours is a responsible home. Ask your Summit NJ real estate agent to mention these options when showing the home and on any printed materials.

Perhaps even more important than the obvious eco-friendly options in your home are the unseen green choices. An upgrade to your furnace or water heater can produce a much larger energy savings than even replacing widows. Small choices all over the home add up to a big difference. New weather stripping in doors and windows will reduce heat loss and keep nasty drafts from chilling your buyers. Changing to low-flow shower heads and toilets will conserve water and keep bills lower. Attic fans will reduce the need for air conditioning by keeping the upper reaches of the home cooler. An automated thermostat can help you control heating and costs by regulating temperatures while you are not at home. This little feature is very popular with buyers.

Make sure buyers know about the commitment you’ve made to creating an eco-friendly home. Your Summit NJ realtor will have some ideas to highlight these important selling points and ensure your buyers know about both the visible and hidden green features of your home.

Some home owners just can’t leave a wall white. It seems like the kitchen get the worst of the color wheel abuse. Glaring blues, brilliant greens and nearly neon yellows are popping up on kitchen walls all over the country. Of course, we all want our Summit NJ real estate to reflect our unique tastes and personalities. But is a bright wall color the best choice when you’re selling your home?

Staging professionals will tell you to neutralize wall colors before including your home in the Summit NJ listings. The pros always prefer beiges, tans and other neutrals, for good reasons. Staging is all about appealing to the potential buyer’s tastes, not you own. When prepping a home for sale, we try to play down the personal aspects of the space and make it seem as if anyone could live there. Many homeowners have a difficult time letting go of their own paint and wall covering choices in order to sell their homes. But staging doesn’t have to mean painting the entire house beige. There are a few other shades you can choose if you simply can’t live without color in your kitchen. Just be sure that the color you choose emphasizes the space and compliments you cabinets.

Yellow

Think butter, not lemons. A soft, light shade of buttery yellow can make a kitchen seem lighter and brighter than even a neutral grey. It’s a cheery color that maximizes available natural light by reflecting it. This is a great choice for kitchens without a lot of windows.

Green

Again, keep greens to a light shade. Look at your favorite dried herbs for inspiration. Sage is a excellent choice as it is neither too warm or too cool.

Brown

A shade of latte or café au lait with crisp white trim is a clean and contemporary look. This may not be your ides of “color” if you’ve been living with a brighter hue, but buyers will love the updated look. Ask you Summit NJ real estate agent to suggest other fashionable choices.

Colors to avoid

Blues are relaxing and make most people think of water. This makes it a good choice for a bath, not for a kitchen. It’s so relaxing it may actually decrease appetite. Oranges are, in general, to jarring and harsh for staging. Purple and lavender are too taste-specific and lack a broad appeal.

Ask your Summit NJ realtor for suggestions when it’s time to stage your home. She’s heard what buyers say when the seller isn’t around so she knows what colors will look like a liability when you’re selling.

Real Estate Misconceptions

In any industry, there are misconceptions and outright myths and real estate is no different.  It’s not the simplest game to get into so there are bound to be some misunderstandings about it.  If you have questions about real estate, feel free to call your Summit NJ realtor to get the straight facts.  Here are a few of the more popular misconceptions about real estate.

Who do you call?
Many people think that when you see a house you like you just call the Summit NJ real estate agent whose name is listed on the sign.  That agent is actually representing the seller and the seller interests.  You should probably have an agent who is looking out for what is best for you.  That agent may be able to act as a dual agent but she may already be contractually obligated to the seller.  Make sure yo know the difference before you sign any contracts.

Showings on Demand
The agent listed on the sign doesn’t have to show a house just because you call and ask to see it.  An agent doesn’t want to waste the homeowner’s time without knowing for sure that you are serious about seeing the home.  Unless you have a contract with the agent as a buyer, she doesn’t “owe” anyone a showing.  Of course, agents want to show their Summit NJ listings as much as possible to legitimate potential buyers.  When your agent requests a showing from the buyer’s agent she will rarely be told no.

Not-So-Full Disclosure
People ask the strangest questions about Summit NJ real estate.  Your agent can field almost any question you have but there are some she cannot legally answer.  Under the federal fair housing laws, agents are not to discriminate against a number of protected classes.  In accordance with these statutes, you agent cannot give you any information on certain topics like the ethnic demographics of a neighborhood, crime statistics or the school statistics.  You can find most of this on your own but your agent cannot legally use any of this to influence your choices.

The Bigger the Better
Real estate agencies come in all sizes, from one-man shops to large conglomerates.  Bigger is just bigger, not always better.  A smaller agency may be able to give you more personal attention.

If you have question about these or any other topics regarding a real estate sale or purchase, you should call your local agent.  She can help dispel any myths and replace bad information with facts.

Moving with Pets

Once you’ve purchased your Summit NJ real estate property, you will have to deal with the details of moving your life from one abode to another.  Some of these things will fall into place naturally, without much fuss, but others will take a good bit of planning.  Don’t for get to make a plan for your pets.  You probably thought carefully about your pet’s needs when you were browsing the Summit NJ listings so take equal car of them during the move.  Your precious, furry family members need some special attention during this stressful time.

Permits and Licenses
Your four-legged friends, no-legged friends and those with wings may require special licenses in your new home town.  Your Summit NJ real estate agent can give you the contact information for the county clerk’s office, where most of this business is handled.  Exotic pets may require more than just a standard license and some community have bais against certain animals.

Travelling Tips
Planes:  A few pampered pets get to experience a plane ride, though for most it’s in the cargo hold.  If temperatures are extreme, wither hot or cold, the airline may refuse your pets for their own safety.  Only animals small enough to fit in a carrier stowed under the seat get to ride in the cabin.  Some airlines don’t allow pets in the cabin at all.    Check with your airline well ahead of time.
Trains: You will need to check with the train company as rules vary widely.  Some smaller operators allow pets but Amtrak does not.
Automobiles:  Most pets travel by car when they move.  Make sure you stop frequently for walks and only use the approved area of rest stops when Fido needs to go potty.  Bring some extra clean up equipment in case of motion sickness.  Use a sturdy leash and a harness instead of a collar.  It’s harder to wriggle out of a harness and it could be tragic if Fido ran off on unfamiliar turf.

Necessary Items
You will need a few things on hand when you move with your pet.

•    Health certificate from your vet
•    Recent photo, just in case
•    ID on the animal – chip, collar and/or tags with updated info
•    Carrier for safety – large enough and comfortable
•    Food and water, as appropriate

Your Summit NJ realtor can help you learn about all the rules and regulations concerning pets in your new home town.  It’s best to check on these questions prior to a purchase but certainly do it before you move.

You may have decided with your Summit NJ real estate agent that a newly constructed home is the best choice for your family.  You’ve probably researched your builder thoroughly and are feeling pretty confident in their product.  You may even be so confident that you think getting an inspection is a big waste of money.

Don’t make this mistake.  A home inspection is a necessary step in the purchase of any piece of Summit NJ real estate.  Problems in a home don’t always stem from age.  Sometimes a problem is there from the start.  Construction is not always perfect and if you don’t get an inspection, you could be in for a nasty surprise even if your home is brand new.

Most builders take extreme pride in their work.  Most are conscientious and careful and do not let shoddy work slip through the cracks.  However there will always be one or two who break the rules and cut corners.  Even if a builder is one of the good guys, mistakes can happen.  When you’re browsing the Summit NJ listings, don’t equate “new” with “perfect.”

There are a few important things your inspector should focus on during your new construction inspection and a few common areas of errors along with all the standard fare.  If you have questions about the process, be sure to ask your Summit NJ realtor.

Grading
The way the earth is graded around a home determines how and where rainwater will collect.  Mistakes here could cause wet, moldy basements and crawlspaces.

Brick Veneers and Flashing
Brick veneers need flashing to direct water running down the surface of the exterior away from the points where brick meets another material.  Doors and windows should have properly installed flashing so that water doesn’t get behind the brick or stucco.

Duct Work
A lot of workers are bumping around in a home under construction.  Ducts can be accidentally knocked loose.  A loose piece of ductwork will divert your climate controlled air into the attic or crawlspaces instead of inside the home.  This can cost you a ton of money in heating and air conditioning bills.

Of course there are many other areas an inspector will cover.  These just happen to be common places where mistakes often occur.  Be sure to ask for a home inspection even if you are purchasing a newly constructed home.  You cannot afford to eliminate this crucial step in the home buying process.