Real Estate Information Archive

Although the economy has improved some over the last few years, it doesn’t seem to be getting a whole lot better for most Americans.  A good way to save money is to downsize your home.  This is especially a good idea if you have already raised your family and you and your husband are left paying a mortgage on a home that is too large for you.  Let’s take a look at how downsizing your home will help you to save a bit of money, to live more comfortably as well as some easy ways that you can downsize.

• One easy way to downsize is to look for a home that has a small garage or even no garage at all.  If you and your spouse are living in the home alone and your children are grown it is likely that you don’t have a bunch of stuff to store in a garage.  Buying a home without a garage is a great way to get more house for your money and to downsize your payment. 
• Finding a home without a lot of land is another way to downsize and to save big.  You can find a lot of cute houses on the market these days that don’t have a ton of land with them.  It is also good to find a home without a lot of land if you are older and don’t have the stamina you once had to do all the yard work that is involved with a house with a lot of land attached. 
• Buying a home that is one story is also a good way to downsize and to save when it comes to buying a new home.  Buying a home without stairs is good for when you get older as well because you won’t want to or may not be able to climb them once you get up in years. 
• Realize that you don’t have to give up on the home of your dreams when you downsize.  There are plenty of adorable houses on the market that won’t break your bank account that are 1500 square feet or less.  Don’t let society dictate to you that you need a large house in order to fit in.  There are plenty of upsides to downsizing to a smaller home!

Once you set your mind in the right direction and you realize that you don’t need to have a huge house and that it’s no longer important to “keep up with the Jones’’ you will be well on your way to saving a lot of money.

Courtesy of New Castle County Realtor Tucker Robbins!

Home inspectors are good at their jobs but they are not above missing some things because they are human.   There are several things that home inspectors have been known to miss during a home inspection so you might want to keep your eyes open and pay close attention during the inspection so that you don’t end up having to pay for expensive repairs once you move in to your new home.   A few things that may be missed by your home inspector  are below.

1. Inspectors do not always go over all the bells and whistles of a home and appliances are on the list of things they do not always pay a lot of attention to.  The last thing you want is to move into your new home to find out that you have a leaky dishwasher that needs to be replaced.  If you want to make sure appliances have not been overlooked you may want to check them yourself. 
    
2. Leaky faucets are also things that can be overlooked by home inspectors.  Take your time to walk through your soon to be new home and check the faucets for leaks just in case your inspector may have missed something.   It’s a good idea to check outdoor faucets as well.
    
3. Cracked sewage and drainage pipes might also be something that your inspector doesn’t take a look at and may therefore miss.  It may be worth your while to pay a bit of extra money to have an in depth look at your drainage pipes. 
    
4. Sometimes home inspectors will not pay a lot of attention to decks, porches and balconies.  There can be problems in these areas such as safety issues and cracks that may not arise until right before you make the purchase of the home.  Perhaps a second follow up inspection may be a good idea if you feel that one of these areas may be a potential problem. 

Again, home inspectors are human and they are not above missing some potential problems  with your new home.  Realize this fact before you have your home inspection so that you too can keep your eyes open for any potential problems you see in and around your prospective new home.  Once you move in you will be able to rest assured that you have not bought into a money pit. 

Courtesy of New Castle County DE Realtor Tucker Robbins!

 A new paint color in your home  can do wonders for your mood and it can also do wonders for helping to sell your home.  Paint colors can change your mood from happy to sad to relaxed or even make you angry.  Why not do your part to make selling your home as easy as you possibly can by choosing the right paint colors.  Below are some color ideas to get you started in the right direction.

• Blue is a nice color for a home if you are looking for a peaceful feeling.  Many people choose to paint the walls in their bedroom blue so that they will be more able to get a good night’s sleep.  Some people like to paint a spa blue in their bathrooms to make it have a spa like feel.  You can’t go wrong with blue paint when it comes to getting your home ready to sell. 
   
• Another color that gives a good tranquil feeling to everyone who enters your home is green.  Green is associated with nature and nature is typically peaceful.  You can use green in almost any room of your house where you want to feel calm and peaceful.  Some folks use light green paint in their bathrooms while others use darker earth tone greens in their family rooms. 
   
• Yellow is a good color to paint in your home if you are interested in selling it because it makes folks feel happy and joyful.  What better feeling would you want your prospective buyers to feel than joy and happiness as they enter your home.  Typically yellows are used in hallways or large foyer areas.  It is best however to stick with soft yellow colors and not get too carried away by attempting such as a mustard yellow color.  Yellow paint done in the right way will appeal to most people. 
   
• Be careful with painting grey in your home if you are trying to sell it because sometimes although you may be going for a warm inviting feel you may end up with a cold harsh feel and that is not something you want your buyers to pick up on.  Grey done right can be very relaxing and inviting.  Perhaps talking with a paint expert at your local hardware store might be a good idea before using grey.
   
• Brown is a typical staple color in a lot of homes.  If you choose to paint beige which is a light form of brown in your home, you will likely find that it can be very warm and inviting to guests or potential buyers. 

I would suggest not using orange or red in your home as a new paint color if you are going to be putting your house on the market anytime soon.  These colors tend to make people feel anxious and or angry.  Painting your home in a few new colors is a perfect way to get it ready for a great showing!  Happy selling!

Information courtesy of New Castle County DE Realtor Tucker Robbins.

Selling your home can sometimes be a daunting task; however we are going to talk about a few ideas of how to make selling your home a little bit easier.    

1. One way to make your home stand out when you put in on the market is to stage it.  By this I mean make it look like a model home by taking down your family photos and adding a few decorations to match whatever season it may be at the time.
     
2. While your Realtor is showing your house, be sure to have a few candles lit and some relaxing music playing in the back ground for the potential buyer to enjoy.   Little things such as this will help to make a buyer much more at ease and to feel at home. 
    
3. Be sure to have the yard looking nice and neat when you have a potential buyer coming to tour your home.  If you have kids and they have toys or bikes in and around the yard, be sure to put them up where they will not be seen.  Keep in mind you want the potential buyer to be able to envision themselves living in the home and if there are too many reminders of you and your family they may have a hard time doing this. 
    
4. If you really want to make your potential buyer feel at home, leave a plate of warm cookies out for the showing.  Leave a little note out offering for the people touring your home to take one or two cookies and to enjoy them.  Your Realtor may have other ideas of what types of snacks you can leave out. 
    
5. Be sure to clean from top to bottom and to put away anything that may be lying around.  Do not leave laundry lying around.  Even clean laundry laying on the floor or bed can make a home look messy and uninviting.  Remember you want your potential buyer to feel calm and at ease when touring your home and we all know that laundry usually makes us feel anything but calm and at ease. 

Hopefully these tips will get you started in the right direction for selling your home without much hassle.  A good Realtor can go a long way towards selling your home but you can do your part to help out and make sure your home stands out above all the others.  You want your buyer to remember your house and it’s my guess if you make them feel comfortable and relaxed while there, they WILL be back!

I am often asked, “Should sellers fix up their home before selling?” First, let’s talk about the stuff any Realtor is going to tell you so you have context for the rest.

It is easier to sell a house that is attractive to buyers and shows as being well-maintained. That is a matter of doing a little fix-up, but mostly clean-up. Make sure pipes aren’t leaking, for instance. That is relatively easy and not expensive. If your home really needs painting consider doing that. These are not high priced issues. Below we are talking about the expensive items.

If your house has structural defects or other problems that are expensive to fix you have more challenging decisions to make. First, remember that every house has defects! That is simply the nature of a complex structure. Second, savvy buyers know to expect defects so don’t try to hide them. Don’t kid yourself that if a problem can’t be seen easily it won’t be found out.

Most buyers assume there are some problems with any house. If they make an offer that you accept they will pay for a professional home inspector who knows real estate. Good buyer inspectors are very thorough. They are being paid by the buyer and are looking out for the buyer’s interests, not yours. It is not unusual for an inspection report to be in excess of twenty pages…in small type! Being honest with yourself about defects will prepare you better when you are faced with that inspection report.

So, the question becomes “Do I fix the problems before going on the market, or do I make it clear that I am selling “as-is” and discount the price accordingly?” The obvious follow-up question is “If I spend the money before selling, will I get that money back in the final sale price?” The general answer is that it depends on the nature of the defect and magnitude of the likely cost of repair.

Potential buyers are most likely to overestimate the cost if they have to make the repair and under-estimate the cost if the seller is paying. Cost versus value then becomes a negotiation to establishing a final purchase/sale price. If the cost of repair is major, such as a septic system, it makes the most sense to repair it before selling.

The best way to go about making these decisions is to pay a professional home inspector in your real estate market to make an inspection on your behalf as the seller. Their report will give you a thorough list of issues you might be faced with. It will also give you the tool to get estimates from contractors to make the repairs. Then you have a sound basis for making decisions.

An added benefit to having your own inspection on hand is that you have a professional document that you can use when negotiating with a buyer. Be practical and be prepared with your own inspection.

Information courtesy of Wilmington Realtor Tucker Robbins.

If you watch home-and-garden cable channels, it looks like everyone is flipping houses. i.e. buying a piece of real estate, making minor repairs, and quickly selling it at a substantially higher price.  Basic investing 101: Buy low, sell high.

Certainly sounds appealing--and you may be tempted to join the ranks of those who have been successful in this field.  Be forewarned, however, that like most money-making endeavors, real estate flipping requires time, money, patience and skill.

For tips on how to begin, steps to follow, and advice on how to avoid pitfalls, read on…

Do your research and be knowledgeable well in advance:

• Talk to (and learn from) successful flippers, read up on the subject, follow real estate deals in the newspaper, use the Internet as a teaching resource, attend open houses and auctions.
   
• Identify possible house locations, size, and style.  Educate yourself on how to recognize promising properties and how to spot a lemon.
   
• Familiarize yourself with current prices, taxes, utility rates, HOA fees, municipal and restrictions in each area you are considering.   Study your market. Get to know it as well as you possibly can. Understand the trends, the kinds of houses, the neighborhoods, the streets.
   
• Visit the potential homes and neighborhoods in person.  Talk to residents, Realtors, and repair companies who are familiar with the area.

Set up a budget, a time line, and financing:

• Figure out how much money you have (or can put your hands on using investors) without borrowing.
   
• Calculate the cost of repairs, taxes, utilities, materials, contractor/labor expenses, and the like.  Professional contractors advise flippers to add an extra 10% to their repair estimate.  Also, to be on the safe side, make sure that you’ll be able to hold on to the home as a rental property for a while, if need be.
   
• Experts suggest factoring in the flip time into your budget and your potential profit before you purchase the home. According to investors, a successful flip is one that makes you around a 15% profit.

Be prepared:

• When you find the right house, you must act quickly to buy it.
   
• Have appraisers, agents, contractors, skilled laborers lined up so they can start work immediately upon your purchase.  Remember, in flipping, time is money!
   
• Be ready to make quick decisions, devote a great deal of time (and possibly sweat equity) to this project, and face unexpected expenses.

Two major caveats:  Be patient and don’t get greedy!

Information courtesy of New Castle County DE Realtor Tucker Robbins.

Most sellers have been advised to be aware of the importance of curb appeal in heightening the interest of potential buyers.  To that end, they keep the lawn mowed and bushes trimmed.  They also adorn the outside entrance way with colorful potted flowers, updated light fixtures and hardware, and a freshly-painted door—all invitations to potential buyers to go inside.

An effective selling strategy, of course, but the invitations and positive impressions need to continue when prospective buyers actually come into your home.  Be it large, small, or cleverly created, the interior entryway to your house serves as the transition from outdoors to indoors and can set the tone and expectations for the rest of the home.

Some tips to creating a welcoming and attractive foyer or hallway include the following:

• Use one piece of size-appropriate furniture to anchor the space (and possibly provide room for storage).  Think desk, chest, bookcase, etagere, bench, or comfortable chair, e.g.  Consider function as well as appearance.
   
• Stress neatness.  Not only does an entryway set the tone of a home, but it can also keep the rest of your home tidy.  Attaching attractive hooks or other hardware to the wall next to the doorway can be an excellent place to hang coats, purses, bags, and keys.  A coat rack and umbrella stand can also be useful items.
   
• Utilize color to introduce the style of your home and/or to make a statement.  Some designers recommend using bright (red) or dark (chocolate brown) hues to mask the dimensions of a small space.  Others favor neutral shades such as grey, ecru, or white to make the furnishings the central focus.  Still others promote the use of yellow to add light or shades of green to bring the outside in.
   
• Be aware of lighting and size proportion.  Include a table lamp or sconces—even a chandelier if the area warrants it.  The addition of a mirror helps to reflect light and expand the space.
   
• Utilize accessories tastefully.   Add a colorful area rug, a favorite painting or poster, and plants, perhaps even a ficus or palm tree if space permits. Display a few pieces from one of your collections.  Include a variety of textures, shapes, and colors in your selections.  Remember that fresh flowers, in addition to pleasantly scenting the foyer, always send a welcoming message.to would-be buyers of your home.

Information courtesy of New Castle County Realtor Tucker Robbins.

Each year around 65% of all household moves take place between May and September, so obviously you need to plan ahead if you’re moving to a new home this summer.

While the act of relocating to a new place can certainly be exciting, there are, of course, challenges to be met, especially during a hot, busy summer season.  Although there are no foolproof ways to make the experience totally stress-free, there are, thankfully, actions you can take to make your “adventure” a more positive one.

Sage advice to heed includes:

• Plan ahead!  Contact moving companies or truck rental firms at least six weeks in advance if possible. Try to schedule your move for a weekday and at a time when traffic is less heavy. Make prior arrangements for the care of young children and pets on moving day—for their sake and yours!  Line up commitments from friends and family if you’ll need their assistance for the move.
   
• Be strategic about packing.  Gather necessary supplies and start packing early.  Whether it’s one room, one cabinet, or a drawer at a time, weed through what may be years of accumulation.  Decide what to donate to charity, give to a friend, recycle, trash, pack now, or keep handy until moving day.  Label boxes as to contents and intended room in the new home.
   
• Take care of logistics in advance.  Ideally, you should contact your future utilities provider at least two weeks before you move regarding turning on your electricity, gas, phone, cable, and internet before your arrival, if possible.  Contact any new school for a list of documents needed for registration.  Do not pack these materials away it’s better to hand carry them for easy retrieval.  If you’re going to need to spend a night in a hotel, make those arrangements early.
   
• Make life simple.  Keep all small parts labeled, in plastic bags, and all together in one box.  Likewise, take pictures of electronic hook-ups for future use.
   
• Consider the heat.  Dress appropriately, stay hydrated, and refrain from placing certain items in a hot truck—candles or wine, e.g.  Click here for tips on packing cleaning products and toxins.
   
• Stay calm.  Relax, whistle, smile, and anticipate the pleasure of living in your new home. 

Information courtesy of New Castle County Realtor Tucker Robbins.

Not to be confused with homeowner’s insurance, which covers the structure and contents of your  home, a warranty service contract is designed to cover systems and appliances that stop working due to normal usage.  Basic coverage generally includes the repair and replacement of major appliances such as heating/cooling system, water heater, refrigerator, dishwasher, stove, etc.  Plumbing and electrical systems are also usually covered, and some companies include washer, drier, microwave, and roof maintenance in the basic tier.

Gaining in popularity with both buyers and sellers, warranty service contracts serve to reassure owners that they won’t face major repair/replacement costs.  Sellers use them to protect the home while it’s on the market and as an incentive to attract buyers.  Buyers rely on them to protect them from unexpected and expensive repairs.  Even Freddie Mac will offer a $500 home warranty credit to home buyers who purchase a qualified, foreclosed single-family home, townhouse, or condominium through their HomeSteps® division.

A warranty plan is fairly inexpensive, typically ranging from $250 to $400, depending on coverage. The policy is prepaid for a year in advance, at which time it expires or can be renewed.  The usual procedure for service needs is as follows:

• If a home system or appliance breaks or stops working, the home owner calls the home warranty company.
• The home warranty company calls a provider with which it has a business arrangement.
• The specific provider calls the home owner to make an appointment.
• The provider fixes the problem. If an appliance is malfunctioning and cannot be repaired, depending on contract coverage, the home warranty company will pay to replace and install the appliance.
• The home owner pays a small trade service fee (less than $100) for each service call.

Most home warranty companies offer a variety of plans, each providing different levels of coverage, so be sure to read the details of any contract before buying. If you choose to renew the contract from year-to-year, double-check the details of your plan each time since coverage can change annually.

According to the Service Contract Industry Council, 32 states require home warranty companies to register or obtain a license with that state's department of insurance and comply with applicable laws and financial standards. Membership lists are available at their website.

Information courtesy of Wilmington DE Real Estate Expert Tucker Robbins.

If you're looking to sell in today’s real estate market, you have most likely already read numerous articles advising you to set a realistic price, pay attention to curb appeal, thoroughly clean and de-clutter, remove large pieces of furniture, repaint in neutral colors, remove personal mementos, and the like.  All of this information is valid and useful, but there are other, less-publicized ways to appeal to potential buyers.  Read on for some creative tips on how to generate interest and get the best price possible.

1. Arrange for a pre-listing home inspection.  In addition to facilitating the sale of your home by reassuring potential buyers, an inspection helps you comply with full-disclosure real estate laws.  You can also have a termite inspection done.
    
2. Use online venues and your personal networks to market your house.  Put an ad on Craigslist, use sites like Zillow.com or Trulia.com, get your own URL with the house’s address, promote the house through social media like Facebook and Twitter, and send out a copy of your listing to people on your email list.  Sometimes word of mouth is one of the best ways to market a house.
    
3. Replace all brass fixtures.  Today’s buyers dislike this “cheap” look that may have been fashionable a couple of decades ago, but it has to go if it’s in your home today.  Switch out each light fixture, switch plate, door hinge, knob, and faucet with for ones with a modern oil-rubbed bronze or nickel finish.
    
4. Add power outlets with USB ports in rooms that lack them, especially in the kitchen, bathrooms, and bedrooms where they’re most needed.  Also, find a place for a wireless router for use with the Internet and flat-screen TVs.
    
5. Offer more unusual incentives.  Paying a buyer’s closing costs, taking care of HOA fees for the first year,  giving a “redecorating” credit, or providing a home warranty for a set time period have become almost expected perks, but you can consider landscaping services, personalized gift certificates (home supply store or a plant nursery, e.g.) or a flexible closing date.

• For equally effective, but more expensive buyer magnets, look into outfitting closets for extra storage (top contenders are an entry closet, a kitchen pantry, and a linen closet) or removing much-maligned “popcorn” ceilings.  Click here for DIY instructions or get estimates from a professional.

Information courtesy of New Castle County Realtor Tucker Robbins, Berkshire Hathaway HomeServices.