July 2015

How to Win a Bidding War

Now that the housing market is heating back up, you’re likely going face stronger competition from your fellow buyers. So what do you do when you’ve found the perfect home, and it turns out that someone else thinks it’s perfect too?

Here are some expert tips to help you come out on top in a bidding war:

In a competitive market, you might be facing multiple offers on homes.

In a competitive market, you might be facing multiple offers. Be smart and follow our simple tips for success.

Get Your Finances in Order

Getting pre-approved for a loan will go a long way towards winning a bidding war. It shows you’re committed and helps to eliminate any doubts a seller may have about your financial ability. In a competitive market, your offer might not even be considered if you do not have a pre-approval letter.

Master Your Cover Letter

Your offer should contain a cover letter along with a pre-approval letter or a proof-of funds document. Your cover letter should showcase why you want the home, what you do for a living, your interests, and also how you see your future unfolding in this property. If you truly love the home, don’t be afraid to reveal why you and or your family belong there. Creating an emotional connection can help you stand out among the other bidders and give you an added advantage.

Much like a cover letter for a job, your offer cover letter is a pivotal element to getting noticed by the seller and can make or break your chances of getting the home.

Be Swift

As they say, the early bird gets the worm. Be the first with an offer that matches the asking price or comes in slightly below, to increase your chances of winning a bidding war. It shows you’re a serious buyer and that you value the home you’re bidding on. To give your offer some added urgency, put an expiration date on it as well.

Make a clean offer

The simpler the offer, the more likely the seller is to accept it. While you may be tempted to outline all of your “must-haves” upfront, these are better left until after you’ve made it a few steps further in the buying process. You’ll still have an opportunity to negotiate repairs, closing costs, furniture, and any other wants after the inspection.

Keep Your Emotions in Check

Don’t let your emotions over-rule all of that hard work you put into researching asking prices, looking at schools and scoping out the neighborhood.  These are necessary to make a sound decision and sometimes all logic goes out the window when you fall in love with a home. Don’t let yourself step outside your price range in the heat of the moment. There will always be another home but there isn’t always more money.

If you’ve found yourself in the midst of a bidding war and need some expert advice, contact our knowledgeable and friendly team at 855-441-6288.

http://www.realtor.com/advice/how-to-win-a-bidding-war-on-your-dream-house/

http://www.cnbc.com/id/102640371

Five Basic Feng Shui Tips to Apply Today

Does your home promote health, wealth and happiness?

Does your home promote health, wealth and happiness?

Feng Shui has been used for almost 3,000 years to balance the energy of spaces. To truly practice the art of Feng Shui it takes time, effort and much study. Luckily there are some simple tasks you can put into practice right away.

If you’re looking for ways to make your home more comfortable and enjoyable, take a lesson from this ancient practice to promote positive energy in your home and create an inviting space for potential buyers.

Clear the Clutter

According to Feng Shui experts, clutter blocks the flow of energy in your home and can even negatively influence your life. Begin the clearing process by moving through your house one room at a time. Set a time limit for yourself and gradually increase the amount of time you spend clearing the clutter in each space.

Fix Squeaks

This one seems like a no brainer, but many people become accustomed to the squeaks in their home and simply stop hearing them. The most important squeak to fix is the front door, as a squeaky door will promote bad energy coming and going from the house. To encourage positive energy, simply oil the door hinge and enjoy the sound of a squeak free door.

Consider Your Bed’s Position

We spend almost half of our lives sleeping, so it’s important to make sure your bed is in what’s called “commanding position.” This allows you to have protective energy behind you while you’re sleeping and maintain strong energy. Make sure your bed is as far away from the door as possible and is not directly aligned with the door. You should have a good view of the door as well.

Clean Your Windows

In Feng Shui, windows symbolize your eyes to the world. They allow you to see what’s going on outside and let the light in to our space.  To make sure your vision is clear, clean windows regularly to brighten your space and let positive energy in.

Focus on Air & Light Quality

Good Feng Shui energy calls for quality air and light. Be sure to open the windows as much as you can and invest in indoor plants to keep air fresher. Let in natural light often and ensure you have adequate lighting for your home.

Follow these simple steps and you’ll be on your way to creating balance and positive energy flow in your home.

If you want to focus your energy on selling your home and are looking for expert advice, please contact our team at 855-441-6288.

Sources:

http://fengshui.about.com/

http://inhabitat.com/9-simple-tips-to-feng-shui-your-home/

The Skinny on Home Warranties

Your furnace goes out. Now what? It’s a costly repair that can really take a toll on your pocketbook.

Do home warranties protect your new investment?

Do home warranties protect your new investment?

There are many people that rely on home warranties to repair their appliances. Home warranties are service contracts that are designed to cover appliances and other items that can break within the home. However, the age old question is – are home warranties worth it?

First, it’s important to understand the difference between a home warranty and home insurance. A home warranty typically covers repair and replacement costs for appliances – with a service fee. Home insurance covers appliances, but normally won’t cover them unless damage occurs to the house – for example, a fire, flood or theft.

The Pros – For sellers, home warranties that are included on a home they are selling can be a big bonus. According to a recent survey by a large home warranty provider, homes that come with a warranty sell 11 days quicker and make an average of $2,300 more that those that do not. Buyers can have the reassurance that their appliances are covered and possibly save up to thousands of dollars.

The Cons – Many consumer reports argue that home warranties aren’t worth the cost – $400 to $600 a year. One complaint is that many claims are denied because it is determined to be a pre-existing condition. Claims are also denied because the appliance hasn’t been maintained properly. Other problems included no coverage on more expensive items like leaky roofs or basement moisture and extra charges for things like plumbing and heating.

If you’re ready to purchase a home warranty, here are some tips to consider:

  • Check out multiple providers. Just like with any purchase, review your options. Also, make sure the company has the proper licensing and other requirements to provide a home warranty.
  • Review the contract carefully. As mentioned, there are many reasons a claim can be denied. There are also many appliances that could possibly not be covered under your plan. Read the contract carefully, including the fine print.
  • Create a budget. Add in the payment to your monthly budget. Include a possible service charge – which could range from $50 to $100.
  • Talk to your real estate agent. Keep your agent in the loop about your search for a home warranty. They may have a good relationship with a company and know who to watch out for.

United Real Estate is here to help you make the best decisions for you and your family.  If you are ready to get started on the home buying process, or if you have questions about buying, contact our support team.

 

Sources:

http://www.consumerreports.org/cro/news/2014/09/why-you-should-avoid-home-warranties/index.htm

http://www.latimes.com/business/realestate/la-fi-lew-20140511-story.html