Consider an Inspection for your Rental

Consider an Inspection for your Rental

When Considering a rental an inspection is a useful tool to help pinpoint repairs that may be needed and not easily visible. Rental inspections are not typically done by a tenant but can inform you about possible problems before signing a lease.

 

Checking for radon, asbestos, lead paint, lead in the water and mold can help a renter be assured that the space they will be renting is safe. It is also a good idea to check the roof for leaks and damage.

 

Often rental properties require a large deposit and doing an inspection prior to moving in puts both the tenant and landlord on notice as to what repairs are needed and helps avoid any disputes later on.

Calling all Millenials – Think about Buying Now!!

Calling all Millenials – Think about Buying Now!!

If you are a millennial and you are thinking of buying a home, now may be a good time to invest in a home. Your local real estate agent will be able to help you understand the market and find homes that fit your specific needs and wants. This is a huge financial decision so prepare yourself and your wallet!

 

Interests rates have hit a 14 month low in March. If you have good credit you may be pleasantly surprised regarding how much you are pre-approved for regarding a mortgage. Millennials who have a good job have a leg up in the home buying process.

 

Investing in a home versus renting gives you greater benefits. Think about buying a home that you can be in for 5 or more years. If you enjoy renovating and putting your fingerprint on a home, then consider buying a home that needs updating. You may also find homes that are outside your price range but have been sitting on the market for a  considerable period of time. Your real estate agent will guide you about the value and recent comparable sales in the area.

 

Make sure that you are comfortable in the neighborhood that you have chosen and that it meets your needs. Drive through the community during the day and also get a feel of what it is like a night when people may be commuting home from trains, buses and cars. It may worth scoping out the following: grocery store, parks, school, recreation center, transportation, shops, etc.

 

You need to speak to you real estate agent about hidden costs or costs that can occur once you purchase a home. You will need to save up for property taxes, insurance, closing costs and anything that your inspection report found that you either need to replace or know that it needs replacement down the road. You may have a water heater that needs replacement and you don’t want to wait until it leaks or that you’re A/C or heat fails when you need it the most.

 

Silversons Realty is here to assist you in your home buying needs. Give us a call at 914-725-9344, email us at info@silversons.com and check out of our website at www.silversons.com.

Selling: Small things to attract buyers!

Selling: Small things to attract buyers!

Spring has sprung and if you are looking to sell and attract first time home buyers or millennials, you may want to consider these ideas. These minor changes may help your home sell compared to other homes that are outdated.

 

Make sure your front  front door is inviting and has curb appeal. Replacing or painting your door if necessary. Ask your local nursery what plants, shrubs, and flowers will spruce up your homes.

 

It’s 2019 and technology is key! Consider transitioning from an old thermostat to a thermostat that you can control from a smart device. This gives one the ability to regulate the temperature on the go no matter where life takes you. Think about upgrading the generic doorbell and go with something interactive.  This allows anyone to answer the door whether one is home or on the go. Plus, one can see who’s at the door via any smart device. You can find these tech savvy products at your local hardware store, online or a retail chain.

 

Check out the lighting in the home. Walk around and take an inventory of what bulbs need to be replaced and what fixtures may need updating. Update fixtures to make them more modern and contemporary.

 

Telecommuting has become big. Many buyers may be looking for a dedicated office or an alcove area that they can use.

 

Make sure the closets are clean and there aren’t clothes on the floor. Take out any clothes that no longer wear and donate them. You may also want to think about adding bins and/or add shelving to create more space. This may make the closet feel bigger and more inviting to a buyer.

 

Many buyers enjoy the look and feel of hardwood floors. If you have carpet in certain areas of the house, consider pulling it up if the floors underneath are in good condition.

 

Re-paint rooms with neutral colors. The bright purple that you love may be an eye sore to some buyers. The idea is create a warm space that a buyer can envision living there.

 

Silversons Realty is ready to assist you in the selling process. Please call us at 914-725-9344 or email us at info@silversons.com. You may also visit our website at www.silversons.com

Before Selling: The Exterior is as important as the Interior!

Before Selling: The Exterior is as important as the Interior!

Many buyers are taking advantage of the real estate market and are already looking to find their dream home. Despite the winter weather, focus on curb appeal, as this first thing that a buyer sees online and/or in person. Creating a peaceful, organized and inviting welcome is important.

 

The front door can act as a welcoming tool for energy and opportunity. If your front door is visible from the street  it is move inviting compared to a door that his hidden by bushes or trees. Have it freshly painted in a bright color or varnished if wood. Also the house number should be readable from the home.

 

Consider adding plant life to your walkway and speak to a local landscaping company to see this is possible during the winter.

 

Also one should check your roof and make any replacements to cracked or missing tiles if it’s a slate or tile roof.

 

Walkways should also be maintained. Any loose mortar or joints should be repaired to avoid tripping hazards.

 

If the outside of your home has chipping or peeling paint, get an estimate on how much it would cost to paint. Power washing will also help.

 

Clean up any debris around the lawn. During the winter time, tree branches may fall due to ice or snow.  Keeping your lawn clean adds great curb appeal to the buyer’s eye.

 

Take a good look around your garage and figure out what you need to keep, trash or donate. An open and clean space adds good Feng Shui. Buyers are able to see the space and figure out their storage needs.

 

Silversons Realty is here to assist you in all your real estate needs.

Selling your home! Purge, Purge, Purge

Selling your home! Purge, Purge, Purge

What better way, then to start off the New Year with a purge! 2019 has arrived and you may deciding that it’s time to sell your home. Many people have a hard time trying to figure out how to get rid of unwanted household items. I advise my clients to go from room to room and take an inventory of what you want to keep verses what you want to donate, toss or sell.

 

If you are thinking of downsizing and are looking to unload a mattress or box spring, many places will not take it due to sanitary reasons and bed bugs.  Find a place that picks up and disposes it for you.

 

Technology has advanced and the obsolete TV should be sent to a local recycling center. If the TV is still in working order, consider donating it or selling it to a second hand store or a store that uses these TV’s for movie sets. Likewise the old refrigerator should be disposed of properly either with by removing the door or bringing it to the local sanitation site.

 

Old furniture may be someone else’s treasure. Think about selling it online or selling it to a second hand store. Donating furniture is also an option. Tag sales are another possibility.

 

We all have lots of old tax returns and paper files. These should be shredded. Some communities share central shredding centers. If not there are companies that can come to your home. It’s important to be present while the documents are being shredded.

 

These are just some of the items sellers focus on when preparing a home for sale.

Winter Tips

Winter Tips

Winter is in full swing and you may want to prepare yourself and your home. You don’t want to be out of
supplies when the winter weather hits.

 

If you are a do it yourself type of person, make sure that you are prepared with shovels and salt/ice
melt for when it snows. Be sure to check your shovels to make sure they are not dull or broken. If you
have a snow blower re-read the manual and refresh your memory on how to use it. Also be sure it is good
working order. If you don’t like shoveling or can’t shovel because of health reasons, you can easily find
a snow removal company. Landscape companies often offer this service.

 

Stock up on supplies. Winter weather can be unpredictable and you don’t want to be racing to the store to
buy non perishables. Often shelves get cleared quickly as many people panic that they may not be able to
leave their homes. If you have a pet(s) make sure that you have enough food. You don’t want to get stuck
and not able to get out of your home. Your local sanitation crew works to clear emergency roads first
followed by secondary and tertiary roads.

 

Make sure that all outside water supplies were shut off in the fall. Pipes that are outside or near
your garage are at greater risk of bursting.

If you go away on vacation, you may want to lower your thermostat but not too low. Check with your
HVAC company ahead of time and ask them what temperate you can set it at. If you have sinks by exterior
walls, open the cabinet door(s) to let the warm air flow in/out. You may want to run a faucet at a
slow drip. This keeps the water moving through the pipes.

 

Whole house generators are becoming popular and can leave anxiety during a winter storm. Partial
home generators that run on propane are also helpful and less expensive. If you home is equipped with
one, ask the service company what they recommend doing before the winter season. Depending on your
generator, you may want to have gas or propane readily available that can last your for a few days.

 

Finally, in case of an emergency know where you keep your flashlights, extra batteries, radio,
and first aid kit. Also consider buying solar power devices that can charge tablets.

Buying a Home in 2019 – Interest Rates

Buying a Home in 2019 – Interest Rates

Purchasing their first home or upsizing/downsizing may be more financially difficult for buyers compared to past years.

 

Millennials may be the top buyers in 2019. Many have already purchased a starter home such as a coop/condo apartment and may now be looking to upsize as they are now moving into their 30s and may feel more financially established. Some have started families and require more space.  Millennials typically  are money savvy, more financially conservative and many have started their careers with student debt.

 

In 2018 the interest rates slowly increased pushing to where we are now in 2019. Many buyers have to think about how much they can financially afford and what their monthly mortgage payments will be. Buyers who thought they could afford lower payments each month may have to re-think their price point and work within those parameters.  Interest rates and the new tax law have both impacted their buying power.

 

Silversons Realty is here to assist you in your buying your first home or upsizing/downsizing. Give us a call at 914-725-9344 so we can start working for you!

 

Considering Moving Out of NYC?

Considering Moving Out of NYC?

Considering Moving Out of NYC?

Are you considering moving from the NYC boroughs and heading for the suburbs? If you’re looking for a convenient, hassle free and relatively short commute to work via Metro North, more indoor space, more bedrooms, a family room, a garage, a backyard and an abundance of outdoor activities, consider Southern Westchester and its various communities. These advantages yield geat buying power! Here are some examples of what your money buys:

 

160 Overlook Rd., New Rochelle, NY: Price $1,475,000, fully renovated colonial with outdoor family room, 6 Beds, 4.5 Baths, 4,100 sf, on .4 acre of landscaped property, near shops, schools and houses of worship. 29 minute express train to NYC.

 

99 Soundview Ave., White Plains, NY: Price: $1,125,000, Updated and renovated center hall colonial, 5 Beds, 3.5 Baths, 3,400 sf, on.5 acre. Circular driveway. near shops, schools and houses of worship and everything that White Plains has to offer.

 

30 Silver Birch Drive, New Rochelle New, NY: $1,599,00, Luxury construction, magnificent 5 beds, 4.5 custom baths, state of the art gourmet eat-in-kitchen with large adjacent family room, all high ceilings, expansive bonus room, 4,533 sf, on .4 acre. Quiet tree-lined street. Near schools, shops and houses of worship. A lot of house for the money!

 

Compare these to Brooklyn:
$3,490,000- Condo 4 beds, 3 baths, 2,298 sf
$3,750,000- House 4 beds, 3.5 baths
$3,500,000- Townhouse 4 beds, 3.5 baths, 3,200 sf

 

Silversons Realty is here to assist you in finding your new home! Give our office a call at 914-725-9344 or email Michele Silverman Bedell, Licensed Real Estate Broker/Owner at msilvermanbedell@gmail.com or call mobile at 914-906-4376.

Finding the Right Real Estate Agent in Today’s Market!

Finding the Right Real Estate Agent in Today’s Market!

 

The ebbs and flows from the stock market to the real estate market, leave many wondering if now is a good time to purchase a home. However the interest rate rise and possible future ones in 2019 may motivate some to buy sooner than later. Many buyers start off by searching online and quickly become overwhelmed with the vast inventory of homes and the many different communities.  Part of the home search process is finding a realtor, a skilled professional  who is an also an expert in the community.

 Many communities in Southern Westchester have different amenities such as recreation, parks, pools, and parking at the train. etc. When you search online, this information may not be readily available. This is why it is best to find a local real estate agent with first hand knowledge of a community.  Local agents know the area, know what’s happening in the real estate market with respect to inventory, what’s coming soon to the market and values.

Besides familiarity with a community, what are the qualities of a good realtor?  Many people often will refer their friends or family members and some refer those who are new to the industry. They may be enthusiastic and energetic and even have  experience in another business but don’t have the skill set to handle a real estate transaction. A skilled realtor will know the process and often has relationships with other local realtors.  Although the  process is similar, each one is a bit different with regard to terms, different personalities and a different “tempo”. One has to know how to handle objections, multiple offers,  when to be “pleasantly” aggressive and when to wait. It’s important to be experienced negotiating under all market conditions and with many personalities. 

In addition, the realtor should be available to you by text, email and phone. They should be available to meet with you.  Many realtors today work on a team rather than solo.  Both models have their pluses and minuses.  A team will typically have several agents each having a different function such as a showing agent, a closing agent and one who handles the negotiations. Theoretically there is someone always available to the client. The negative is that too many people are involved in one transaction.  You don’t want to end up bouncing around the team and feeling frustrated that your texts, emails or calls  go unanswered.  With a single realtor, that person is responsible for showing the properties, negotiating, being at the inspection, appraisal and walk through, connecting with the attorney, mortgage broker and understanding the buyer’s needs from start to finish.  

After you have found the right agent, review your need and want lists, price points and get  pre-qualified. They will ask if you want land, the style of home, square footage, the number of bedrooms and bathrooms, and if you will renovate the home vs one that is move-in ready. Be specific in what you want in a home. If your agent is part of a team, make sure that you are clear on whom you speak with and who will be showing you homes. Finally organize your team with a home inspector/engineer and real estate attorney.  

Silversons Realty LLC is here to assist you in your real estate need. Call us a call in the office at 914-725-9344 If you are busy on the go email us at info@silversons.com and visit our website at www.silversons.com. We want to hear from you!

Finding a Distressed Property

Finding a Distressed Property

I’m sure many of you have seen the shows on TV, that show people buying distressed properties. Many of these people have the goal to either do the work themselves or farm the work out to companies, and then flip the home for a profit or rent it out for additional income. What you may not realize, is many of these distressed properties are cash transactions and they are sold “as is.” Sometimes these distressed properties only allow it to be viewed by driving by. Some of distressed homes are short sales and require a longer time to close since the bank (s) have to approve it. The buyer should be aware of the time frame involved.

 

Once you have an accepted offer, have it inspected by a licensed home inspector. The inspector will walk around the inside and outside of the property creating a detailed list. This list includes items that need repairs, items that must be brought up to code and structural defects. Also before doing any renovation(s), check with the local municipality to complete the necessary paperwork. Once you are given the permits, you can move forward with your projects. Remember to have all the permits closed out and a certificate of compliance or occupancy issued. Open permits can hold up a closing.

 

Your licensed real estate agent will help you with any questions. When you are ready for the property to hit the market, your real estate agent will assist you in finding a buyer or potential renter.