By Tammy J. Pelletier, GRI
Prudential Gammons Realty

When it comes to selling a home, some interesting things play crucial roles. For example, there’s nothing more effective at cooking up sales than a great kitchen.

When prospective buyers view your home, they’ll pay special attention to your kitchen’s cleanliness, layout and storage capacity. That makes this the perfect time to reorganize your cupboards and drawers, get rid of unused items and give your kitchen a fresh, clean look.

Buyers look for kitchens with ample, accessible storage and work space. Make your kitchen as clean, spacious and clutter-free as possible. Even small things like adding a plant or putting new knobs on your cabinets can make a surprising difference.

Thinking about your home from a buyer’s perspective will help you see little improvements that can help get it sold. Which improvements you make and how much you spend is up to you, but my experience enables me to suggest many proven ways to merchandise your kitchen — and the rest of your house.  I’ve compiled a list of websites on home improvements and a variety of toher topics.  Just drop me a quick comment for the list.

Tammy Pelletier can be reached at (401) 263-6913 Prudential Gammons Realty is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity

By Tammy J. Pelletier, GRI
Prudential Gammons Realty

When it comes to selling a home, some interesting things play crucial roles. For example, no matter how beautiful your home is, if a buyer isn’t comfortable in your bathroom — you may be flushing a potential sale down the drain.

 

Prospective buyers want a bath that is in overall good repair, has ample storage space and is sparkling clean. If your bathroom does not currently meet these criteria, don’t panic. There are many easy ways to make bathrooms more appealing to prospective buyers.

 

A thorough cleaning job, your best towels and decorative soap may be all it takes to get your bathroom market-ready. If your bathroom needs to be updated, fresh paint on the walls and ceilings is inexpensive. Simply caulking around a tub or replacing crumbling grout will make  world of difference.  Also, a one-color scheme will make it easier for buyers to imagine how their accessories and furnishings will look in your bathroom.

 

Thinking about your home from a buyer’s perspective will help you see little improvements that can help get it sold. Which improvements you make and how much you spend is up to you, but our experience enables us to suggest many proven ways to merchandise your bathroom — and the rest of your house.   I’ve compiled a list of websites on home improvements and a variety of other topics .  Here are just a couple.  For more links, just leave me a comment.  Let me know what you think.

 

Incredible Bathroom Renovations – HGTV

Bathroom Makeovers – hometimes.co.za

 

 

Tammy Pelletier can be reached at (401) 263-6913 Prudential Gammons Realty is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.

 

By Tammy J. Pelletier, GRI
Prudential Gammons Realty

As a seller, your No. 1 goal is to sell your home as quickly as possible at or near the listing price. In today’s market, where there is much more competition for buyers, it is important to put your best foot, or in this case, home forward because first impressions are vital.

Many of today’s prospective homebuyers have busy lifestyles and are looking for properties that don’t require a lot of work. Therefore a home in move-in condition is much more attractive. Before placing your home on the market, you may want to invest in making needed repairs.

To get started, inspect both the inside and outside of the home. Take inventory of practical and aesthetic repairs. You may want to apply a fresh coat of paint on the walls, doors, and shutters. Clean the carpet and buff and polish wooden floors. Tighten and polish hardware. Repair cracks in sidewalks and driveways, and clean any stains on them. Replace missing or warped roofing. Clean or re-grout kitchen and bathrooms. Repair dripping faucets and drains or plumbing fixtures that aren’t operating.

Fix sticking doors and replace old locks and doorknobs. Replace old bulbs and broken electrical sockets. Replace cracked windows and torn screens. Repair broken fencing and reseal the deck. Clean up stains on the tiles and countertops.

Some experts also recommend hiring a certified home inspector to thoroughly and impartially evaluate the property. (For a list of inspectors in your area, visit the American Society of Home Inspectors website, www.ashi.com, or ask your real estate professional for recommendations.) A standard report will review the condition of the home’s heating system, central air conditioning, plumbing and electrical systems, the roof, attic, walls, ceilings, floors, windows and doors, the foundation, basement and visible structure.

If there are recommendations for improvement, consult with your real estate professional in prioritizing the list of repairs.

Depending on your goals and budget, you may want to repair only items that could cause significant deterioration to the home, such as a leak. In addition, your local market conditions may dictate how extensive your repairs need to be. Let your budget and your real estate professional guide you.

However, be careful about major repairs. Sellers rarely recoup money on major remodeling projects, and you may want to save funds for your new home.

A home in good condition demonstrates pride of ownership. Taking the time to make small repairs to your home can go a long way in making sure that your home is presented to potential buyers in its best possible light. They also just might make the sale.

Tammy Pelletier can be reached at (401) 263-6913 Prudential Gammons Realty is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity

By Tammy J. Pelletier, GRI
Prudential Gammons Realty 

Home-price adjustments in markets around the country have opened doors of opportunity for many renters. If you are transitioning from renter to homeowner, the prospect of making such a large investment may be exciting, while at the same time overwhelming. But it doesn’t have to be. Here are six common mistakes to avoid.

1. Not understanding the homebuying process. Educate yourself. Find a homebuyer seminar that you can attend or research online. The U.S. Department of Housing and Urban Development Web site (www.hud.gov) has an entire section devoted to homebuyers with common questions of first-time homebuyers, mortgage and home-buying programs information, downloadable tools such as a wish list and home-shopping checklist, tips on selecting a real estate professional, etc. Likewise, Prudential Real Estate’s popular Web site, prudential.com/realestate, offers consumers brand-new tools for the homebuying process, such as free home environmental reports, Value Range Estimates and Property Profiles, among other resources.

2. Not asking questions. There are many facets and intricacies to the homebuying process, so although you may gain a basic knowledge, you will still have questions. Don’t hesitate to let your real estate professional know that you are new to the process. Make sure you choose a sales professional who is willing to spend time with you and walk you through the entire process. He or she will expect you to have questions at each step—from house hunting, to making an offer to the closing. Remember, this is one of the largest financial transactions of your life, so you want to have a clear understanding of what’s going on.

3. Buying on impulse. Don’t feel pressured into making an offer on the first home you see. Buyers, especially first-timers, may be impressed by the first two or three homes they view.  Look at a good selection. List the positives and negatives about each home. Narrow the prospects to three or four and then return for a closer look. When you decide to make a bid on a property, work with your real estate professional to get all of your questions answered before making an offer. But don’t wait too long to make an offer. The longer you wait, the greater the chance other prospective buyers may place offers, making it harder for you to negotiate a good deal.

4. Looking outside your price range. Before beginning your home search, consider getting pre-qualified to so get an idea of how much you may be able to borrow. Use this information as a starting point in determining your price range. Then take into consideration other factors that will affect your monthly budget once you are a homeowner, such as property taxes, homeowners insurance, utilities, private mortgage insurance (PMI) and maintenance.

5. Not planning ahead. Think about personal changes you are planning in the next five to seven years. For instance, are you starting a family, and if so, is the home large enough and will it continue to be? If this will be a starter home or if you think you’ll be relocating in a few year, you’ll probably want to pay closer attention to appreciation and resale value. If a double-income is necessary to qualify for financing and to make your payments, do your plans foresee an income sufficient to continue making payments?

6. Failure to focus on location. Don’t just focus on the house. Examine the community. Does it suit your lifestyle? Is the area safe, well-maintained, close to work, stores and schools? Find out about zoning and what new construction is planned on vacant land in the immediate area. Also consider the property marketability when it’s time to sell.

Above all, remember knowledge is key. No question is a silly question. Your real estate professional can be an invaluable asset throughout the process. Making smart home buying decisions will make the home-buying process less scary and your first home purchase a rewarding experience

Tammy Pelletier can be reached at (401) 263-6913 Prudential Gammons Realty is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity

By Tammy J. Pelletier, GRI
Prudential Gammons Realty 

    With just the stroke of a few keys, you can find myriad resources on the Internet to help you in your search for a new home. Besides property listings, you can find out about specific communities, schools and mortgage options. Prudential Real Estate has made three great resources – Environmental Profile, Property Profile and Value Range Estimate – available on prudential.com/realestate that provide detailed real estate information just by keying in a U.S. property address.

    With this wealth of information at your disposal, do you really need a real estate professional to represent you? Absolutely. 

    Think of it this way, when you go to an unfamiliar place, sure you could do a self-guided tour. However, your tour is much more rewarding and enriching when you have someone who is familiar with the location to guide you along because he or she has inside knowledge on the history, culture and stories that you may not have otherwise received.

    The same can be said about sales professionals. Their role is more than someone to drive you around from property to property. They can be a great resource, especially to homebuyers relocating from other communities. He or she knows the local area including home values, taxes, utility costs, and school data, and may even be knowledgeable about resources pertaining to your special interests or needs. For instance, should you require help relocating an aging parent with you, your real estate professional may be able to direct you to local services or organizations for the elderly.

    A sales professional can familiarize you with the processes involved in buying a home, alert you to potential risks, help you determine how much house you can afford, explain alternative financing strategies, as well as provide tremendous moral support.

    Another benefit is having a strong advocate during the negotiating process. Sales professionals can help you objectively evaluate an offer then work to negotiate a favorable contract. During the process, he or she will review the contract and obligations before you sign, explain how contingencies and release clauses work, and so on.

    And something easy to overlook is our familiarity with the complexity and risks inherent in the process. In the years I have been practicing I have been continually amazed at how quickly a seemingly simple transaction can grow legally complex and risky. When complex questions arise, a sales professional can help you quickly locate an attorney or other licensed professionals whose services you may require, such as home inspectors, engineers, surveyors and lenders.

    As your single point of contact, a sales professional can manage the entire transaction including coordinating inspections, keeping in touch with the other real estate professionals, managing the documentation for the loan process, monitoring deadlines associated with contingencies, providing applicable paperwork, estimating closing costs, and helping prepare for a smooth and uneventful closing. 

    If you’re about to begin the process of buying or selling a home, consider involving a real estate professional. When the stakes are high, it’s comforting to have a specialist by your side.

Tammy Pelletier can be reached at (401) 263-6913 Prudential Gammons Realty is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.

 

 

By Tammy J. Pelletier, GRI
Prudential Gammons Realty  

If you are buying a home, one of the first things your real estate professional will do before taking you on home tours is interview you to determine the type of house you want such as a 2,000-square-foot four-bedroom, split level with a formal dining room and two-car garage. But just as important is the type of community you want to live in. Knowing what your requirements are will help narrow your home search and save time.

To expedite the house-hunting process, start by making a list of the dream home factors that are most important to you and your family’s lifestyle. Consider style, location, proximity to work and schools, yard size, children in the community and, of course, price.

Price and location generally are the key factors you’ll use to identify the communities that best suit you. If you are moving within the same city, you may want to start your community search by getting in your car and exploring. There are also resources on the Internet that let you compare communities.

You’ll want to ask yourself critical questions, such as: Do you dream of something quaint and charming that can only be found in an older area? Or, do you prefer everything new? Are you willing to sacrifice size and space for architectural detailing? What about drive and commute time to the office and schools? Will you forgo the number of bedrooms and a big yard for proximity to a lake or other recreational areas?

Whether you have children or not, buying a home in a community with good schools is important. It not only adds value to your property, but also is an attractive feature when and if you decide to sell. There are plenty of resources available to get information about schools within the communities you are considering. Various Internet sites offer school reports and profiles. They provide statistical data such as graduation rates, college-bound percentages, and standardized test scores. You can also learn about special programs the schools offer. In addition to these reports, many schools have their own Web sites you can peruse. And of course you can always talk to people in the area or take a tour of the school.

Additional factors you’ll want to consider during your community search are crime, recreational activities, proximity to shopping and restaurants, and other specific family needs.

Once you’ve narrowed your search to two or three communities that fit your price range and lifestyle, make comparisons of price and sales activity. Your real estate professional can help you determine which communities are most sales-worthy at present, and which are more likely to continue to be.

There are many factors involved in selecting the right community for you and your family. Discuss your options with your real estate professional. This will provide the information he or she needs to help you find property listings to tour. Remember, a targeted approach to house hunting is less time consuming, less expensive and more efficient.

Tammy Pelletier can be reached at (401) 263-6913 Prudential Gammons Realty is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.

 

 

After weeks of searching, hundreds of MLS listing sheets, countless Sundays spent at open houses and dozens of home viewings, you finally find the one home you fall in love with.   it’s that home that you said

“I’ll know it when I see it. I’ll feel it!”

Finally, you’ve found the one.  The house that has everything, i.e., the 3 bedrooms, 2 1/2 baths, family room and fenced in yard.  Oh don’t forget, the 2 car garage that you didn’t want to live without.  Everyone in the family knows this this the home for you.  Even the Realtor sees the different glaze in your eyes.  You have found the house for you.

As you return to your car, trying to hide your excitement from the Listing Agent, you utter those simple words

“How long do I wait before I make an offer?”

Hundreds questions and thoughts are swirling in your mind

“Should make my offer now?”

“Will look desperate if I make my offer now and will the sellers hold out for more money if I do make an offer immediately?”

“Should I mke my offer tomorrow . . . or two days from now?

In my 20 years of selling homes, I have encounted all these questions and have experienced just about ever senario in the offer process.

• First of all, you should be working with a qualified Buyer’s Agent who represents YOU and not the seller.

 

• If you haven’t already seen the home again, immediately schedule a second viewing of the home.

 

• Your Buyer’s Agent should be preparing a CMA (Comparative Market Analysis) for you.  The Listing Agent has already prepared one for the Seller.  This is how they determined their selling price.  A smart Listing Agent wil be preparing another CMA for their Seller at this point.

 

• Your financing should already be in place.  Pre-approved is much better than pre-qualified.  You will need a letter of pre-approval/pre-qualification to accompany your offer.  This letter shows that you are serious.  Many Listing Agents have advised their Sellers not to take offers that are not accompanied by a pre-approval/pre-qualification letter.

The Advice

While well-meaning relatives and friends may inundate you with advice about your home buying experience, it’s most important, especially at this time, to seek the advice of your experienced Buyer’s agent.

When my buyers ask me when to place the offer.  I tell them not to wait.  Trying to guess what the Seller is going to do, or trying to make the seller think you are really not as interested as you really, never works.  Point is, you are making an offer . . . you are interested.

Make sure your Buyer’s agent immediately does the CMA which you will need to make your educated offer.  As soon as you have a price in mind, put it in writing and have your agent present it.  Many a deal has been lost trying to second guess the sellers. 

Remember, there is nothing worse than saying

“let’s wait a couple of days to make the offer”

then driving mom and dad by the house of your dreams and suddenly seeing a PENDING sign atop the Realtor’s sign.

 

Tammy Pelletier can be reached at (401) 263-6913 Prudential Gammons Realty is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.

By Tammy J. Pelletier, GRI
Prudential Gammons Realty    

An open house can be a great marketing tool, but it also means exposing your home and family to countless strangers. Don’t assume that every person who visits your home is an earnest, potential homebuyer. It’s important to take security seriously. Here are some common security measures that can pull double-duty, keeping you and your family safe while enhancing your home’s marketability:

• Remove personal items such as family photographs, your children’s artwork, calendars that include daily routines and other items that may reveal the names of your family members or everyday life. Removing or packing away these items will not only enhance your privacy, it will also help keep the potential homebuyer focused on your home and not your family. A house that’s been depersonalized shows better because it’s easier for the buyer to visualize living in the house.

• Identity theft is a growing problem, so be sure to remove or lock up all credit cards, bills, health insurance information and anything else that contains personal information like social security numbers and bank account numbers. Of course, this step removes clutter from your counters, maintaining visual appeal.
• Remove or lock up jewelry, cash and other valuables; firearms and other weapons; and all prescription medication.
• Make sure the house is well-lit and keep all interior and exterior walkways clear of clutter and other debris.
• After each showing, take a thorough walk-through of your house and make sure all of the doors and windows are shut and locked, and that no items or valuables are missing.

 In addition to safeguarding your property and identity, there are precautions you should take to protect yourself if you are present during an open house. Ideally, your real estate professional will be representing you during the open house, so that potential home buyers feel comfortable snooping around, opening cupboards and speaking freely about the home. However, if you do find that you are in the home alone, or are selling your home on your own, consider a few tips from the pros:

·        Never turn your back on a potential buyer. Instead, let the buyer lead you through the house. This allows you to watch the buyer and avoid becoming cornered or trapped.

 ·        Employ the buddy system. If you must show the house yourself, enlist the help of family or friends. This rule is especially important if the home is located in an isolated area.

 ·        Have a visitor roster and make sure everyone who tours your home signs it and includes their phone number and address. This will help you keep track of who is viewing your home. 

 Know and have a plan for the fastest escape route for each part of your home.

 

The open house process is just one step toward selling your home. A real estate professional can provide you with a fresh set of eyes and will tour your home and point out safety measures you may have overlooked as well as answer other questions you may have about selling your home. 

 

Wishing everyone a very happy Independence Day.  Remember to take a moment, during our festivities today, to think of those who cannot be with their families for the picnics and trips to the beach, because they are guarding our freedom.  Thanks to all our fine men and women in the service of our country.

By Tammy J. Pelletier, GRI
Prudential Gammons Realty

If you’re ready to buy a home and can afford it, now is a great time to buy. Mortgage interest rates remain very low. In many areas, buyers have a lot of inventory from which to choose and long-term homeownership continues to be one of the best ways for the typical American to build wealth.

Don’t let all of the negative media attention about the “mortgage meltdown” keep you from pursuing your homeownership dream. Mortgage industry woes are primarily limited to subprime loans and other types of creative and comparatively risky financing products. While the mortgage industry stalled briefly to reconsider its more exotic loans, there is plenty of conventional financing available for qualified homebuyers. Interest rates remain at historically low levels – still less than 7% for the typical, 30-year fixed-rate mortgage.

Indeed, the market has changed. It’s gone from a frenzied seller’s market to calmer buyer’s market. In fact, buyers haven’t seen a market this strong in years. When the national median home price dropped for the first time on record, the decline made huge albeit misleading headlines. For starters, there is no such thing as a national real estate market. All real estate markets are local and driven by local factors that include the local economy, housing supply and demand factors and other attributes like geography.

The slight decline followed years of unprecedented steep home price appreciation and the reality is that only a handful of markets experienced price declines. Corrections in markets that experienced exorbitant home price appreciation were expected and signal good news for buyers. According to 2007 third-quarter National Association of REALTORS® (NAR) statistics, the vast majority of the nation’s metropolitan areas showed rising or stable home prices with most areas experiencing modest gains.

Right now there are many homes from which to choose and in most areas buyers don’t have to deal with the harried and hurried competition of multiple bids. The changing market has also changed the inventory landscape to include fewer speculative sellers and a larger share of serious and motivated sellers.

Prospective homebuyers have some time to shop inventory and thoroughly compare home types and prices, amenities, neighborhoods, commutes and other important real estate-related features. And buyers have stronger price negotiation power as sellers compete for their attention by offering concessions or other incentives.

While all real estate markets have ups and downs, Americans continue to consistently build wealth through homeownership. According to the NAR:

• One average, the value of a home doubles every 10 years. During the past three decades, home values have increased an average of 6.6% per year.

• The average homeowner today has 36 times the wealth of the average renter. Homeowners are essentially paying themselves when they pay their mortgages and this means they’re building equity. Homeowners also benefit from some real estate-related tax write-offs like mortgage interest.

• Sixty percent of the average homeowner’s wealth is their home’s equity. For homeowners who’re in their homes for the long-term, home equity typically is their single largest source of wealth.

Because every market is different, it’s a good idea for potential homebuyers to contact a local real estate specialist to learn more about what’s happening in his or her community and real estate market. The bottom line in real estate doesn’t change – if you’re ready to buy and can afford to make a long-term homeownership commitment, it’s always a good time to buy!.

Tammy Pelletier can be reached at (401) 263-6913 Prudential Gammons Realty is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.