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Online Home Searches Have Drawbacks

by | Aug 15, 2022 | Buyers, Buying Conditions, Helpful Tips, Listings, Market Trends, Marketing, Property Updates, Property Value, Real Estate

We’re hoping to move in 2023 and are beginning our search online – is there anything we should keep in mind?

The majority of buyers will shop online during their search for a new home, and many will actually begin their search there, like yourselves! The internet has made it incredibly easy for buyers to do preliminary research for a new home. It does have its limitations, however, which is where your expert real estate advisor can fill in the gaps.

Online listings, if managed well by the listing agent, will always look amazing. Wide-angle lenses and professional photographers are employed, as well as photo-editing software and virtual staging, to make a home look as attractive as possible online. It’s worth keeping in mind that pictures may lie – be careful not to screen out potential homes just because the photos aren’t fabulous – rely instead on the wisdom of your agent. If she has listened to your feedback and is familiar with the inventory, she will be your best screen for which homes are better than they appear, and which may be worse.

Online listings also don’t give you much of a sense of location. While google earth may help with some of this, until you actually drive by a property, you may not be able to tell physical lot characteristics that may be a positive or a negative to you. Online listings also can do little to convey a sense of neighborhood or community. Again, that is where your real estate advisor should be able to fill in the picture for you.

Finally, online listings are only as good as the agent who enters the data – there may be information about the property that is not entered into the MLS, either by agent oversight or by simple lack of space, that might make a home more desirable to you. Information such as camera security systems, water softener and purification systems and high-efficiency mechanicals may have real value to you and is rarely listed online.  Thus, while online is a great place to start, it’s a great idea to choose your real estate advisor early (and you can also research qualifications on his/her individual website)!

QUICK SEARCH

[contact-form-7 id="115311" title="Get More Information Form"]
I’m ready to answer any questions you have regarding your real estate needs.
 
 
Kathe Barge, CRS, ABR, CNE, SRES
Associate Broker
HOWARD HANNA
REAL ESTATE SERVICES
401 Broad Street
Sewickley, PA 15143
Cell: 412-779-6060
Office: 412-741-2200 x238
kbarge@howardhanna.com

Things to Consider

by | Sep 7, 2021 | Blog, Buyers, Buying Conditions, Contracts, Inspections, Listings, Market Trends, Marketing, Mortgage, Property Value, Real Estate, Sellers, Selling Conditions

We hear selling a home can be a trying process. Any annoyances a seller should be expecting? 

Below is a short list of many of the “joys” sellers might experience during the listing process.  Being aware that these are possibilities will hopefully help you take them in good humor if they happen to you!

  • The agent showing your home will miss appointments and not call or show up.
  • Appointments will be made and cancelled at the last minute.
  • Some showings will last about five minutes and some will last 3 hours.
  • There will be a day when I call you and say someone wants to see your house, and you are going to ask me when. And I will say: “Look out your windows, they are sitting outside now”!
  • Agents are going to knock on your door or even drive by, see you in the yard and ask if can they see you house.
  • Agents showing your home will forget to turn lights off.
  • Agents showing your home will let your pets out (best to remove them from your home for showings) or your neighbor’s pet in.
  • Agents will provide unhelpful feedback – buyers buy homes when they attach emotionally to a home and when they don’t, their feedback is often nonsensical.
  • Agents will not provide any feedback – incredibly annoying, I know.
  • Expect lowball offers (at least it is a starting point). If your home has been on the market for more than a month, there is a reasonable chance that you priced it too high – maybe the lowball isn’t as low as you think.
  • Things will come up on the inspection that you had no idea were wrong with your home and you will be sure the inspector made a mistake. A pre-inspection is a great way to protect yourself against this!
  • The buyer will make ridiculous inspection requests.
  • The buyer will ask to bring in contractors for estimates for work they want to do after the closing at the seemingly most inconvenient times.
  • The property might not appraise at what you are selling it for. In a hot market like this one, this is a real risk. Be prepared to adjust your price if your sales price is over the listing price and it doesn’t appraise.
  • The closing date on the contract may change.  Lenders and closing companies remain swamped right now – be open to the possibility of a delay.

QUICK SEARCH

[contact-form-7 id="115311" title="Get More Information Form"]
I’m ready to answer any questions you have regarding your real estate needs.
 
 
Kathe Barge, CRS, ABR, CNE, SRES
Associate Broker
HOWARD HANNA
REAL ESTATE SERVICES
401 Broad Street
Sewickley, PA 15143
Cell: 412-779-6060
Office: 412-741-2200 x238
kbarge@howardhanna.com

Making a Seller’s Market Your Buying Opportunity

by | Sep 23, 2020 | Blog, Buyers, Contracts, Listings, Marketing, Sellers

We have been waiting for a while for some new homes to come on the market –are you anticipating more listings soon?

It has in fact been a very active summer season and it sure does feel like inventory is very low.  In fact, we currently have ONLY 82 listings available for sale in the Quaker Valley School District – in most years that number would be approximately 200!  So when we say that we need listings, we mean it!

Yes, we do expect that there will be more homes coming on the market in the new year. While March & April tend to be our largest listing months every year, we have had a few introductions recently and as a general rule they have flown off the market.  We have a tremendous amount of pent up demand.  There are dozens of buyers in every price range sitting on the fence waiting for their “perfect” listing.  If you are one of those buyers, you should expect that you will have some stiff competition as we are seeing bidding wars with multiple offers in many price ranges. So make sure you have your financing in order and be prepared to move quickly if you see something that looks like it could work.

If you are one of the many Village dreamers we have out there, start thinking now about what compromises you might be willing to make to get a home.  As Pittsburgh grows, our inventory is not keeping up with housing demands and we will continue to see a tighter and tighter housing market and increasing prices.  Compromise will be necessary to even get into a home here.

Finally, if you are thinking of selling your home, I have said it many times before, but PLEASE reach out to me! I offer completely confidential consultations and strategic plans to maximize your returns, with a nearly 22-year proven track record.  There is no better time to be selling your home!

QUICK SEARCH

[contact-form-7 id="115311" title="Get More Information Form"]
I’m ready to answer any questions you have regarding your real estate needs.
 
 
Kathe Barge, CRS, ABR, CNE, SRES
Associate Broker
HOWARD HANNA
REAL ESTATE SERVICES
401 Broad Street
Sewickley, PA 15143
Cell: 412-779-6060
Office: 412-741-2200 x238
kbarge@howardhanna.com

Now the Fun Continues!

by | Jan 20, 2020 | Blog, Buyers, Inspections, Mortgage

We’re first time home buyers.  Where do we begin? (continued from last week)

For those of who just picking up the conversation today, check out my blog at www.askkathe.com to read the past two weeks’ introduction to the home buying process.  If you are following along, so far you have gotten pre-approved for your mortgage, researched and chosen a buyer’s agent to be your advocate, saved money for your down payment, shopped for a home and gotten one under agreement.  Now the fun continues!

Once you have a home under agreement and have deposited your hand money, you will be ready to schedule your inspections.  Your buyer’s agent should provide you with guidance in finding reputable home inspectors.  You will want to consider scheduling a general home inspection as well as inspections for radon, wood boring insects (termites), mold, and possibly of the sewer lines.  If the home has a septic system you will absolutely want to fully inspect the system – they are quite costly to replace.  If there is a well on the property, you will want to test both the water quality and the capacity of the well.  You may also need to have specialists evaluate aging components such as the roof.  You generally have 10 – 14 days to complete your inspections and at the end of that period, you will need to make a request of the seller if you would like any items addressed.  To reach a successful conclusion of inspection negotiation, it’s a good idea to keep some simple tips in mind.  First, anything on the disclosure should have been considered when you were making the offer – its not a great idea to revisit disclosed items.  For example, if the seller disclosed that the roof is at the end of its useful life, asking for money toward a new roof is unlikely to be well received. The same can be said for items you could have easily seen.  If the inspector notes that the driveway is cracked and you should have seen it while visiting the home, asking for the seller to pay for a new driveway will also not be well received.  So when deciding what, if anything, to request of the seller, eliminate disclosed items and things you noticed when visiting the home and then turn your focus to the items that concern you most.  Of course, if there were multiple offers and you were the winner in a bidding war, you may not be able to ask for much if anything as there is likely another buyer on standby!  Ultimately, you and your seller will need to reach a compromise on the inspection issues and that agreement will be formalized in a written addendum to your Agreement of Sale.

At the same time you are working through inspections, you will also need to make application for your financing.  This must be complete (in other words, you must have all of your paperwork to your lender) within 7 days of the final Agreement of Sale.  Applying for a mortgage these days can seem quite challenging – be prepared for the lender to ask for what will seem like a mountain of documents.  And do NOT make any major purchase until after you close on your home – changes to your outstanding debt at this point could affect your ability to qualify for a loan at all!  Once you get through inspections and mortgage application, it should be smooth sailing.  We will cover the final step in the process next week!

 

307 Grant Street, Sewickley – NEW LISTING! 

Incredible central Village home in a phenomenal neighborhood with flat, fenced yard, 2 car garage.  Newly remolded kitchen and baths.  Upstairs features 3 bedrooms, 2 baths.  The main level includes living, dining and family rooms, eat-in kitchen and den.  Charming covered back porch.  $725,000. Join me for our open house Sunday, 1-3pm.

 

 

213 Chestnut Road

Beautifully remodeled Sewickley Village Victorian with high ceilings, open floorplan and fabulous original architectural detailing.  Wonderful newer master suite with stylish newer bath.  Four finished levels of living space including lower level gameroom. Flat backyard, two car detached garage.  In a wonderful Village neighborhood, within a very easy walking distance to Village shops and restaurants. $795,000

QUICK SEARCH

[contact-form-7 id="115311" title="Get More Information Form"]
I’m ready to answer any questions you have regarding your real estate needs.
 
 
Kathe Barge, CRS, ABR, CNE, SRES
Associate Broker
HOWARD HANNA
REAL ESTATE SERVICES
401 Broad Street
Sewickley, PA 15143
Cell: 412-779-6060
Office: 412-741-2200 x238
kbarge@howardhanna.com

Let the Fun Begin!

by | Jan 13, 2020 | Buyers, Mortgage

We’re first time home buyers.  Where do we begin? (continued from last week)

For those of who just picking up the conversation today, check out my blog at www.askkathe.com to read last week’s introduction to the home buying process.  If you are following along, so far you have gotten pre-approved for your mortgage, researched and chosen a buyer’s agent to be your advocate, and hopefully saved money for your down payment.  Now the fun begins!

Once you are preapproved for a loan and have determined what price range you are comfortable shopping in, you can start your home search.  Typically this begins with an online search – your buyer’s agent should set you up to receive new properties as they become available. As interesting homes come on the market, you will want to tour them immediately.  In most price ranges, we have an extreme shortage of inventory and those who snooze tend to lose.  It is important to have seen enough properties upfront so when you see the right one, you know it and are ready to make a move.  When evaluating homes, it is also important to be realistic.  There is no perfect home, so establish your list of criteria upfront.  If a home achieves 7 out of 10 wish list items, in real estate we call that a home run. If you are going to hold out for all 10, a move is probably not in the cards for you in the short run.

Once you find a home that works for you, in this market you do need to anticipate a bidding war is a realistic possibility.  Interestingly, even homes that have sat on the market for seemingly prolonged periods of time will often receive more than one offer at the same time, so if you find a home that peaks your interest, do not delay in making an offer.  Any delay could end up costing you money if another buyer comes along!  If there are multiple offers, you must put your best foot forward out of the gate. I have written many articles in the past on how to do that, and they can be found in my AskKathe archives on www.askkathe.com, but briefly stated, you should not assume you will get a second chance – work with your buyers offer to make the highest, “cleanest” offer that you can out of the gate, and consider including a personal letter to the seller telling them why you love their home and hope to make it yours – that personal touch will often sway a seller when they are reviewing multiple similar offers.

Once you have a home under agreement and have deposited your hand money (anticipate 1%-5% of your purchase price depending on your price range), you will be ready to schedule your inspections.  Next week I will talk more about inspections and how to get through them!

 

16 Highview Drive

Start planning now for your fun this summer — 16 Highview offers a beautiful inground pool, ideal for warm weather entertaining, a NEW deck and 3.8 acres of privacy, yet sited in a mature Sewickley neighborhood.  With over 4100SF of living space plus a finished lower level, the home features an open floorplan ideal for entertaining.  Newly remodeled kitchen, 3 car garage, main level bed/bath for guests, walk-out lower level, sauna, wine room, screened porch & more!  Remodeled throughout and ready for immediate occupancy! $595,000.

 

52 Timberhill

Amazing privacy on 10+ acres in Sewickley Heights, this custom designed and built home offers 11,000+ SF of exceptional living space set on a stunning parcel of land.  Gorgeous outdoor venues are ideal for warm weather entertaining, including resort-like pool and stunning patio with fireplace.  Additional exceptional features include 3 bedrooms including luxurious master suite and nanny/in-law suite, soaring ceiling lines, massive stone fireplaces, finished lower level gameroom and exercise studio, 5 car attached garage, huge custom kitchen open to family spaces and more!  An exceptional opportunity.  $5,900,000

QUICK SEARCH

[contact-form-7 id="115311" title="Get More Information Form"]
I’m ready to answer any questions you have regarding your real estate needs.
 
 
Kathe Barge, CRS, ABR, CNE, SRES
Associate Broker
HOWARD HANNA
REAL ESTATE SERVICES
401 Broad Street
Sewickley, PA 15143
Cell: 412-779-6060
Office: 412-741-2200 x238
kbarge@howardhanna.com

First Steps for the First Time Buyer

by | Jan 7, 2020 | Blog, Buyers

We’re first time home buyers – where do we begin? 

Buying a home is one of the best choices you can make.  Rather than paying money to your landlord so that he can be closer to owning an asset outright each month, when you make your monthly payment each month a portion actually goes to your benefit – when you sell the home someday, as long as the market is in a good place, that money is refunded to you (called equity) and you can use it to buy again.  It is, in effect, a forced savings plan and over time you can amass quite a large amount of savings while you are simply doing what you would have done otherwise – paying for housing each month.

To buy a home, however, you must have two things to start:  a down payment and good credit.  There a host of specialty loan products for first time home buyers far too extensive to review here, but figure on saving no less than 2.5% of the purchase price for a down payment if you are able to use an FHA product or 10% if you are going to use a typical mortgage.  Credit scores are also key.  Again, there are many things you can do to help or hurt your credit as you prepare to buy your home.  Do not open any new credit – don’t buy any new cars. Pay all bills on time.

When you think you are ready, start by finding a full-time buyers agent.  We now have Buyer’s Agency in this state and you need someone looking out for you from the outset.  Check the agent’s website, review references, interview if you wish.  Make sure you understand what the agent will do for you and be sure you have done your homework and are selecting the best agent for your needs.  Once you select an agent, you will need to sign two documents:  a Consumer Notice, informing you of your rights, and a Buyer Agency Agreement, whereby you actually hire the agent to work for you.  While the seller still pays the commission, an Agreement is still required to create the legal relationship whereby the agent is working for you and not the seller.

Your agent should then refer you to a mortgage broker for a pre-approval.  The broker will review your assets, liabilities and credit and give you a written statement of how much you can afford to buy.  This step cannot be skipped.  There is no sense looking at homes you can’t afford.

With pre-approval in hand and agent on board, you are now ready to begin the home buying process…stay tuned next week and I will continue to walk you through the process…its when the fun begins!

141 Beech Ridge Drive

Beautifully remodeled newer high-end custom construction home nestled on 8 private acres in Sewickley. Newly painted interior. New carpeting. New lighting.  Newer designer kitchen. Updated/new baths. Half-court indoor basketball court, full racquetball/squash court, complete locker room facilities including sauna, 60’x30’ heated in-ground concrete salt water pool w/ stone waterfalls, patio w/ outdoor fireplace, 6 bedrooms, 5 full & 4 half baths, 9 fireplaces, 6 garage spaces, two kitchens, wine room, roof-top observation deck, new home theater.  Simply remarkable! $3,500,000

 

321 Merriman Road, Sewickley Heights

An exceptional opportunity to live on 42 gently rolling acres in very desirable Sewickley Heights.  Beautifully remodeled, this classic historic colonial perfectly blends sophisticated living, modern amenities, and stunning architectural details throughout!  Featuring 6 bedrooms, 7 full and 2 half baths, this home boasts a grand entry hall, large open kitchen and inviting two-story family room, well-cabineted butler’s pantry, two mudrooms, handsome private den, spacious formal rooms, main-level gameroom with three walls of windows, large bedrooms and fabulous master suite with dressing room. Glass doors open to charming patios which spill out onto the sprawling lawns!  Wonderful pool, outdoor kitchen and living space with impressive outdoor fireplace offer ideal venues for warm-weather entertaining and fun!  Four car garage. $4,250,000

QUICK SEARCH

[contact-form-7 id="115311" title="Get More Information Form"]
I’m ready to answer any questions you have regarding your real estate needs.
 
 
Kathe Barge, CRS, ABR, CNE, SRES
Associate Broker
HOWARD HANNA
REAL ESTATE SERVICES
401 Broad Street
Sewickley, PA 15143
Cell: 412-779-6060
Office: 412-741-2200 x238
kbarge@howardhanna.com