Ask Real Estate Question
Be sure to you ask real estate question either by email or below in the comment section. Now, its time to Ask your Realtor, Gena Riede a Real Estate related question.
Today, we have two new Homeowner questions, a Home Buyer and two Home Seller questions. So, let’s get started…
Homeowner #1: I am a new homeowner and I have an Interest only loan. I am not one of those getting ready to lose my house but I am finding the house payment very difficult. What is the advantage of Buying versus Renting?
Congratulations, on being a First Time Home Buyer! Oh my, there is such an advantage to owning your own home versus renting! First of all the tax advantage is the biggest. You had indicated in your email that you are single and that you had a $5100 tax write off as a single person last year. Well, this year, you will be pleasantly surprised because you will be able to write off the Interest, you are paying on the your Interest Only loan and your Property Taxes. When you file your taxes this year, you will be able to itemize instead of using the standard forms. Be sure to check with a CPA or tax consultant. Here is a link to the IRS for further information about deducting Interest on Home Loans and Property taxes. Here is an article you should also read about Renting vs Owning Your Home.
Homeowner #2: My neighbor has a tree that has a branch that is hanging over into my yard and one of the branches is leaning on a wire. Who is responsible and what should I do.
Have you met your neighbor who has the tree? If so, just ask let your neighbor know of your concern and see if they might want to trim the branch themselves. Your neighbor may be unaware that the branch is hanging over into your yard and imposing on the wires. If they dont seem responsive, then you could cut the branch that is hanging over on your property, if you can reach it. If not, then call SMUD and tell them your concern over the branch leaning on the wire. I always feel that it is best to be a good neighbor and talk to your neighbor first before making any assumptions or attempting to resolve a problem before both parties are aware of the issue. Remember, that there are some trees and vegetation that have a certain time of year to be trimmed otherwise it could have a severe impact on whether of not they die. Its always best to communicate that makes for a healthy, friendly and productive relationship with your neighbors.
Seller #1: I have my house for sale and have not had any Buyers look at it. It is a very house, the best in my neighborhood. I dont think that my Realtor is doing anything to sell my house. All she keeps doing is asking me to lower the price. Im not going to give it away. Isnt it her job to bring in some Buyers?
This is a tough Real Estate market right now. If you dont have to sell you shouldnt have your home for sale. There are way too many homes on the market right now. The Foreclosures, Short Sales and Bank Owned properties are pulling the prices down across the board. Your Realtor is trying to let you know that you are over priced. Price is key to selling. Perhaps, you and your REALTOR ® should sit down and have a chat so that both of you can better understand one another. If you have to sell your house then your REALTOR ® needs to have your home aggressively priced in order to sell, which means you need to lower your price. Your Realtors job is communicate with you on a regular basis about the trends and prices in your neighborhood and advertise the heck out of your house. Your job is to make sure that your house is:
- priced correctly “ listen to your Realtor
- is easy to show “ use a lockbox
- is in show quality “ clean, declutter and fix whatever needs fixing
Good luck with your sale!
Seller #2: I am a homeowner and thinking of remodeling to sale my house. Can you tell me what the latest trends are that Buyers are looking for in a house and if I would get my money back with a remodel?
Now, is not the time to put your house up for sale unless you have to sell. If you are looking long range and thinking of a possible sale in the future and want to remodel, here are the latest trends in today Real Estate market.
It seems that Buyers want wood flooring. Tile is cold and doesnt give that warm cozy feel that Buyers like. Believe it or not, the sink basins that sit on top of the counter in the bathrooms, Buyers do not like. Granite top counters are still wanted by my Buyers but there is move away from Granite counters nationwide. Here is an article, Should I remodel and How Much Do I Get Back that you should read prior to doing any remodeling. Good luck with your remodel!
Home Buyer: I am a home buyer and want to know if I need a Realtor in order to buy a home in a new subdivision?
Great question. I recently had a First Time Home Buyer that I took to a new subdivision in Natomas and represented them in purchasing their new home. The answer to your question is yes, you should have a REALTOR ® represent you. You will not get less of anything because you have a REALTOR ®, youll get more. Remember, that the person behind the desk at the new subdivision does not represent you, they represent the home builder. You need someone looking out for your best interest make sure that your REALTOR ® takes you to the new home builder subdivision and signs you in dont go alone. Here is an article that I wrote about the First Time Home Buyers that bought a new house from the builder.
Be sure to submit your Real Estate related question either by commenting below or send me an email. Remember, that your questions will be answered when you Ask Gena.
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