Buying a home, ask for a home warranty. If you’re buying a home, especially an older home with well-used fixtures, this post is for you. Fact is, things break down, and it can cost a good chunk of change to fix or replace things. There are plenty of things to keep track of when buying […]
Buying a home, ask for a home warranty. If you’re buying a home, especially an older home with well-used fixtures, this post is for you. Fact is, things break down, and it can cost a good chunk of change to fix or replace things.
There are plenty of things to keep track of when buying a home. Before you get the keys, there will be inspections, appraisals, time-frame requirements, and a number of lender requirements. But what can you do to reduce the cost of potential unexpected repairs about after the sale? A home warranty is the answer.
Once you own the home, you also own the responsibility for repairs, replacements, and maintenance, which can be costly. A home warranty can give you the peace of mind of knowing you’re covered if something should happen to break down.
There are two ways to get a home warranty. You can pay for it, or you can ask the seller to pay for it. Either way, you will need to decide at the time you make the offer.
When I am representing a buyer in a home purchase transaction, I always recommend they ask the seller to provide a home warranty, and if the seller refuses I recommend they pay for it themselves. Why?
It’s cheaper to pay $280-$500 for one year (extendable) warranty coverage than it is to cough up $7000-$15000 for a new heating system. Make sense?
My buyers recently purchased a home in Roseburg. They had a home inspection done, and everything was acceptable at that time. We closed the sale and everyone was happy. Unfortunately their heat pump went out the day they moved in! Cha-Ching! It was a good thing they asked the seller to provide a home warranty. It saved them thousands of dollars.
Another buyer I represented purchased a manufactured home just outside of Roseburg. They too asked the seller to provide a home warranty, which the seller agreed to.
The week they moved in, their dishwasher died and a toilet problem came up that ended up requiring a licensed plumber.
Neither one of these buyers regretted having a home warranty. These are only two of many stories. You see why you should ask for a home warranty when buying a home?
With A Warranty You Will:
If you’re buying a house, ask for a home warranty. Or, if you purchased a home within the past 30 days, you can still purchase a warranty. If you’re in the market to buy a home in the Roseburg area, don’t do it without a home warranty.
If you need assistance, I’m always here to help.
Troy Schuyler 541-643-1131 is a licensed principal broker in Oregon.
The Roseburg real estate market has been booming again, and if your home still hasn’t sold, chances are it’s the price! The listing inventory is lower than it’s been in years, home sales are skyrocketing, and the average selling price in the Roseburg area is up 7.7% over last year. All that to say this… If […]
The Roseburg real estate market has been booming again, and if your home still hasn’t sold, chances are it’s the price!
The listing inventory is lower than it’s been in years, home sales are skyrocketing, and the average selling price in the Roseburg area is up 7.7% over last year.
All that to say this…
If your home has been on the market longer than 45 days, with only low or no offers, you need to seriously step back and consider the listing price.
Truth is, pricing your home even 10% above market value drastically reduces the number of potential home buyers who will look at your home, and dramatically lowers your chances of getting the best price.
According to the National Association of Realtors (NAR), about 60% of the potential buyers in a given price range will look at a home that is priced right at market value.
Wouldn’t you agree that you have the best chance of multiple offers and a higher offer if you get a bunch of buyers competing for the same home?
In this seller’s market, starting your listing price off 5-10% under market value just might be a wise financial decision. In this market there’s a pretty good chance of getting a buyer frenzy going, which typically pushes the price up anyway.
This just happened to one of my buyers this weekend. A home hit the market late last week that was priced approximately 5% under the current market value. We ran out and looked at the home the first day on the market. We submitted an offer for well above full price on the home. The seller ended up receiving 2 other offers. One of which was even better than ours. Needless to say, the listing price strategy worked for this seller – big time!
Likewise, homes that are priced high will usually be the last to show, if at all. They usually get few or low-ball offers, assuming they get any offers at all. These are usually the “seller” priced homes who choose a list price higher than their broker recommends.
First of all, the most competitively priced listings sell first. If you want to sell in a reasonable time frame, look objectively at your home, look at comparable sales, and hire a good real estate broker.
Finally the seller reaches the breaking point of frustration and ends up either cancelling the listing, changing their plans, or reducing the listing price.
The problem with the “start high so we have some negotiation room” strategy is… well it’s a bad strategy. More often than not, these sellers end up having to reduce their price much further than they would have if they had only chose the correct listing price to begin with.
In other words, it ends up costing them in the end. Got a house to sell? Give me a shout. 541-643-1131.
Always here to help:)
Which is more affordable, renting or buying a home? That’s a great question, and in this post I’ll explain why in most cases, home buying is usually more affordable than renting in Roseburg. With the appreciating values, higher prices, limited inventory, you might think home buying is out of reach. But when you look at […]
With the appreciating values, higher prices, limited inventory, you might think home buying is out of reach. But when you look at the ever rising cost to rent, it could actually be cheaper to buy a home.
Sure, sometimes the opposite is also true, but in not in most cases. It can be a difficult thing to find a place to call home. Even so, home buying is usually more affordable than renting in Roseburg OR.
Fact is, rent rates are rising much faster than home prices all across the country. Of course, if mortgage rates rise significantly, this scenario could change, and so could the affordability of buying vs. renting.
To help you understand how buying can be more affordable than renting, let’s look at a couple pieces of information. Let’s look compare the estimated mortgage payment on the average home in Roseburg and see how it compares to rent.
Besides the financial aspect, future equity, eventually living payment free, and satisfaction of owning your own home, there are two other clear benefits you’ll enjoy about owning a house.
The bottom line is this. Rents are higher today than they were 10 years ago, and I think we could all agree that they will be higher 10 years from now. Buying a home is one way you can hedge yourself against the rising cost of living. Owning gives you the peace of mind of having a fixed interest rate, fixed term, and fixed payment.
If you are disheartened about the rental home hunt, give me a call. I’m always here to help. Interest rates are still at historic lows, which makes home buying more affordable than renting in Roseburg… for now.
Troy – 541-643-1131.
In the busier Roseburg real estate market with limited listing inventory and rising home prices, homeowners might think they’ll save the commission and go For Sale By Owner (FSBO). I totally get that, and am all for saving money any way I can too. However, there are some valid reasons you might want to rethink […]
In the busier Roseburg real estate market with limited listing inventory and rising home prices, homeowners might think they’ll save the commission and go For Sale By Owner (FSBO).
I totally get that, and am all for saving money any way I can too. However, there are some valid reasons you might want to rethink that strategy. In fact, for a great majority of Roseburg sellers, it just doesn’t pay off to go for sale by owner.
Here are 5 good reasons it doesn’t pay to go for sale by owner:
Did you know that most of the home buyer leads come from the internet, and that a vast majority of the buyers I work with found the home they purchase online? It’s true, check this out:
How buyers found the home they purchased:
The truth is, most homeowners just don’t have access to the online sources that professional real estate brokers do, and end up trying their luck at a sign and ad in the News Review.
Bottom line, the days of pounding a sign, placing an ad, and waiting for the phone to ring are long gone. Sadly, many real estate brokers today still rely on these two techniques as their main marketing push. A strong internet strategy is essential in today’s online world.
The second point you should consider before going for sale by owner is how you’ll expose your home to prospective home buyers.
I read recently that almost 95% of our home buyers start their search for a home online. Does that surprise you? If not, maybe this will…
Only 17% of today’s home buyers claim to looking at print advertising and newspaper ads for homes for sale. Honestly, that number even surprised me a little.
Not all real estate brokers are listing brokers, and not all have a solid internet marketing strategy to market your home and expose it to the largest number of buyers. The internet is not an option when selling a home. What’s your plan?
When I get called out by homeowners who tried it on their own for a while, they usually admit that they were not prepared to negotiate with as many parties as is required. It can be overwhelming if you’re not prepared.
Here are some of the parties you should be ready to negotiate with.
Selling real estate in general is just harder than it used to be. In fact, when I first started (in 1994), there wasn’t half the required paperwork that we now have.
Did you know that there are new mandatory regulations and disclosures in Oregon for FSBO-ers and listed homeowners?
According to the same recent NAR study, the most difficult tasks for FSBO sellers was:
Over the past 20 years or so, we have seen a sharp drop in the number of people who go for sale by owner, mainly due to the difficulty. As a matter of fact, only about 8% of the homeowners go FSBO today vs. about 19% 20 years ago.
The main reason homeowners choose to go for sale by owner in Roseburg is to save the real estate commission. That makes sense right? It would seem, but the national statistics tell a different story?
The buyer usually comes to the table thinking they will save the commission too. That puts you at odds with the buyer on day 1. Bottom line, you can’t both save the commission.
According to a recent study by the NAR, FSBOs accounted for 8% of home sales in 2015. The typical FSBO home sold for $185,000 compared to $240,000 for agent-assisted home sales.
So, on average, FSBO sellers sell for $55,000 less than listed properties. No that doesn’t mean I can sell your house for $55,000 more than you are currently asking, but maybe…
Now, I’m not mathematician, but I don’t think it’s good math or good business to step over thousands of dollars of potential net profit just to save the 5 or 6% commission.
Before listing or going for sale by owner in Roseburg, it pays to be informed. If you are considering selling your home, and you need help or just have questions, I’m here to help.
Troy Schuyler – Principal Broker at CENTURY 21 The Neil Company Real Estate in Roseburg OR. 541-643-1131
Many wanna-be home buyers in Roseburg are perplexed at the home buying process. Often times they are plainly misguided, misinformed, and mislead when it comes to what it takes to buy a home. The reality is, people tend to believe what they are told, whether it’s by a well-intended uncle or a post on their […]
Many wanna-be home buyers in Roseburg are perplexed at the home buying process. Often times they are plainly misguided, misinformed, and mislead when it comes to what it takes to buy a home.
The reality is, people tend to believe what they are told, whether it’s by a well-intended uncle or a post on their Facebook news feed.
However, if you really want to know what it takes to buy a home, the best source is a local real estate professional like me.
The fist myth I run into often hast to do with the credit score. There are so many people in Roseburg who don’t even try to buy a house because of some past credit problem. Hey, if you don’t ask, you won’t know.
A recent survey showed that well over half (59%) of Americans have absolutely no idea what their credit score needs to be in order to qualify for a mortgage.
Not only that, but many others think that their FICO score needs to be well over 700 to qualify, and that is just not true. In fact, I have helped many wanna-be homeowners buy a home with marginal credit.
Minimum FICO Score Needed To Qualify:
The second myth that I run into is the misunderstanding about how much down payment is required to buy a house. Did you know that it is possible to buy a home with little or no money out of your pocket?
According to Fannie Mae, almost 80% of Americans do not know how much down payment is required to buy a home. Many mistakenly believe you need 20% down to buy. Again, not true.
Minimum Down Payment Needed To Buy A Home In Roseburg OR.
By now you’re probably wondering if you would qualify for a home loan or not. I guess the first question you need to ask yourself is if you want to own or rent.
There are some definite benefits to owning a home. You can read about that here.
If you would like help or advice on what to do next, contact me here… Always here to help.
In a competitive real estate market, it’s important to be prepared when making an offer. Here’s why pre-approval should be step 1, even before looking at homes in Roseburg OR. Although the number home buyers in Roseburg has been outnumbering the number of homes for sale, there are things you can do to make your […]
In a competitive real estate market, it’s important to be prepared when making an offer. Here’s why pre-approval should be step 1, even before looking at homes in Roseburg OR.
Although the number home buyers in Roseburg has been outnumbering the number of homes for sale, there are things you can do to make your offer stand out. The first step is is to get pre-approved for a mortgage.
There are some benefits of being pre-approved for a mortgage. Besides showing the seller that you can actually get the money, it also gives you confidence. You’ll know with certainty that buying your dream home is actually possible.
Freddie Mac refers to the 4 C’s that determine how much a buyer will qualify to borrow in Roseburg OR.
It’s surprising at how many potential home buyers think they need a huge down payment or a super high credit score to buy a home. I have helped many people in Roseburg purchase a home over the years who never thought, in a million years that they could actually become homeowners.
Here’s a recent article I wrote… 2 Myths About Home Buying That Discourages Wanna-Be Homeowners.
If you dream of home ownership, it’s worth checking it out. Need to know where to start? Just give me a call. Always here to help.
How do you get your Roseburg home ready to sell? First of all, before even listing your home, it’s important to get your home ready for the market. Don’t pound the sign in the yard until you step back and take a critical look at your home. Here are 10 things I came up with […]
How do you get your Roseburg home ready to sell? First of all, before even listing your home, it’s important to get your home ready for the market. Don’t pound the sign in the yard until you step back and take a critical look at your home.
Here are 10 things I came up with that you can do today to start getting your home ready to sell. Got questions, just ask.
The market has been in full swing, and it hasn’t slowed down much even through the colder winter months. In fact I put 3 homes under contract Thanksgiving week!
With the faster paced market, I can understand how a seller might be tempted to take advantage of the business, and skip out on the preparation stage. However, this is a big mistake. Preparation is a very important key when getting a home ready to sell.
Getting ready for the market;
This is just a quick punch-list of things you can do to get your home ready to sell, create create curb appeal, and make your home show great. If you live in the Roseburg Oregon area, and would like me to personally view your home, make recommendations, and help you price your home, just ask.
Troy Schuyler – 541-643-1131.
Licensed real estate broker at CENTURY 21 The Neil Company Real Estate. 541-643-1131