Posted on

Top 4 Home Renovation For Maximum Return On Investment (ROI)

Renovation for Max Return On Investment

Renovation For Maximum Return On Investment

Renovation For Maximum Return On Investment

Top 4 Home Renovations for Max ROI [INFOGRAPHIC] | Simplifying The Market

Renovation For Maximum Return On Investment  Highlights:

  • Whether you are selling your home, just purchased your first home or are a homeowner planning to stay put for a while, there is value in knowing which renovation projects will net you the most Return On Investment (ROI).
  • A minor bathroom renovation can go a long way towards improving the quality of your everyday life and impressing homebuyers.
  • Adding curb appeal by upgrading your landscaping helps get buyers in the door.  These upgrades rank as the 2nd and 4th renovation for returns on investment.

 

If you are searching for a Bergen County Realtor contact Steven Batista at 201-207-5217. I help with all your real estate needs.

 

Posted on

Access: An Important Factor in Getting Your House SOLD!

Access: An Important Factor in Getting Your House SOLD! | Simplifying The Market

So, you’ve decided to sell your house. You’ve hired a real estate professional to help you through the entire process, and they have asked you what level of access you want to provide to your potential buyers.

There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing, and Price. There are many levels of access that you can provide to your agent so that he or she can show your home.

Here are five levels of access that you can give to buyers, along with a brief description:

  1. Lockbox on the Door – this allows buyers the ability to see the home as soon as they are aware of the listing, or at their convenience.
  2. Providing a Key to the Home – although the buyer’s agent may need to stop by an office to pick up the key, there is little delay in being able to show the home.
  3. Open Access with a Phone Call – the seller allows showings with just a phone call’s notice.
  4. By Appointment Only (example: 48-Hour Notice) – Many buyers who are relocating for a new career or promotion start working in that area prior to purchasing their home. They often like to take advantage of free time during business hours (such as their lunch break) to view potential homes. Because of this, they may not be able to plan their availability far in advance or may be unable to wait 48 hours to see the house.
  5. Limited Access (example: the home is only available on Mondays or Tuesdays at 2pm or for only a couple of hours a day) – This is the most difficult way to be able to show your house to potential buyers.

With May proving to be the best month to sell your home, access can make or break your ability to get the price you are looking for, or even sell your house at all.

If you are in the real estate market to buy a home, are a distressed home owner looking options, want to know what your home is worth or want to sell real estate,  contact your Century 21 Allstars 100 Real Estate Agent, Steven Batista, today! I can offer selling tips, provide you with a Comparative Market Analysis (CMA) and more!

Posted on

Home Inspection: What to Expect

Buyer Tips

Home Inspections: What to Expect | Simplifying The Market

So you made an offer, it was accepted, and now your next task is to have the home inspected prior to closing. Oftentimes, agents make your offer contingent on a clean home inspection.

This contingency allows you to renegotiate the price you paid for the home, ask the sellers to cover repairs, or even, in some cases, walk away. Your agent can advise you on the best course of action once the report is filed.

How to Choose an Inspector

Your agent will most likely have a short list of inspectors that they have worked with in the past that they can recommend to you. HGTV recommends that you consider the following 5 areas when choosing the right home inspector for you:

  1. Qualifications – find out what’s included in your inspection and if the age or location of your home may warrant specific certifications or specialties.
  2. Sample Reports – ask for a sample inspection report so you can review how thoroughly they will be inspecting your dream home. The more detailed the report, the better in most cases.
  3. References – do your homework – ask for phone numbers and names of past clients who you can call to ask about their experiences.
  4. Memberships – Not all inspectors belong to a national or state association of home inspectors, and membership in one of these groups should not be the only way to evaluate your choice. Membership in one of these organizations often means that continued training and education are provided.
  5. Errors & Omission Insurance – Find out what the liability of the inspector or inspection company is once the inspection is over. The inspector is only human after all, and it is possible that they might miss something they should have seen.

Ask your inspector if it’s okay for you to tag along during the inspection, that way they can point out anything that should be addressed or fixed.

Don’t be surprised to see your inspector climbing on the roof or crawling around in the attic and on the floors. The job of the inspector is to protect your investment and find any issues with the home, including but not limited to: the roof, plumbing, electrical components, appliances, heating & air conditioning systems, ventilation, windows, the fireplace and chimney, the foundation, and so much more!

Bottom Line

They say ‘ignorance is bliss,’ but not when investing your hard-earned money into a home of your own. Work with a professional who you can trust to give you the most information possible about your new home so that you can make the most educated decision about your purchase.

You can check out home inspectors I recommend in my partners page. If you are in the real estate market to buy a home, are a distressed home owner looking options, want to know what your home is worth or want to sell real estate,  contact your Century 21 Allstars 100 Real Estate Agent, Steven Batista, today! I can offer selling tips, provide you with a Comparative Market Analysis (CMA) and more!

Source: Keeping Matters Current

Posted on

Is Family Mortgage Debt Out of Control?

Is Family Mortgage Debt Out of Control? | Simplifying The Market

Some homeowners have recently done a “cash out” refinance and have taken a portion of their increased equity from their house. Others have sold their homes and purchased more expensive homes with larger mortgages. At the same time, first-time buyers have become homeowners and now have mortgage payments for the first time.

These developments have caused concern that families might be reaching unsustainable levels of mortgage debt. Some are worried that we may be repeating a behavior that helped precipitate the housing crash ten years ago.

Today, we want to assure everyone that this is not the case. Here is a graph created from data released by the Federal Reserve Board which shows the Household Debt Service Ratio for mortgages as a percentage of disposable personal income. The ratio is the total quarterly required mortgage payments divided by total quarterly disposable personal income. In other words, the percentage of spendable income people are using to pay their mortgage.

Is Family Mortgage Debt Out of Control? | Simplifying The Market

Today’s ratio of 4.44% is nowhere near the ratio of 7.21% during the peak of the housing bubble and is instead at the lowest rate since 1980 (4.38%).

Bill McBride of Calculated Risk recently commented on the ratio:

“The Debt Service Ratio for mortgages is near the low for the last 38 years. This ratio increased rapidly during the housing bubble and continued to increase until 2007. With falling interest rates, and less mortgage debt, the mortgage ratio has declined significantly.”

Bottom Line

Many families paid a heavy price because of questionable practices that led to last decade’s housing crash. It seems the American people have learned a lesson and are not repeating that same behavior regarding their mortgage debt.

Source: Keeping Matters Current

If you are a distressed home owner looking options, want to know what your home is worth or are in the market to sell real estate,  contact your Century 21 Allstars 100 Real Estate Agent, Steven Batista, today! I can offer selling tips, provide you with a Comparative Market Analysis (CMA) and more!