Selling your home

Answer: A home warranty offers the new Owner an added protection against an item breaking after the closing.

Most home warranties cover items such as plumbing, heating and air conditioning, roof, appliances, etc. You can even purchase coverage for swimming pools! Typical home warranties cover the property for about one year, although each home differs by company. The cost also varies depending on the amount of your deductible. The typical home warranty cost is between $275 to $375, but this can vary depending on the coverages chosen. In some cases, the Seller will offer to purchase the home warranty for the Buyer in an effort to make the home more attractive to a prospective purchaser.

In most cases, if the Seller offers the home warranty, then she/he is also covered with certain conditions should an item in the home malfunction while the house is listed for sale. If the home does not include a warranty, the purchaser may buy one at the time of closing.

Home warranties can be a valuable tool for both the Buyer and the Seller. Ask your REALTOR® to provide you with more specific information on this subject.

Answer submitted by Brian Huggler, ABR, CRS, GRI, Tomie Raines, Inc.

------------------------------------------------------------------------

Question: I want to sell my home but was told by a friend that it is always better to sell in the late springtime. Is this true?

Answer: Not necessarily. It has been my experience that even though there may be more homes on the market in the springtime, there are not always more Buyers. People choose to purchase a home because of a variety of factors such as low interest rates, job relocation, tax advantages, school schedules of their children, deaths, births, and many other factors that have nothing to do with the time of year. Sell your home when it is most convenient for you, but list it smart. A well-maintained, fairly priced home will sell at any time of the year.

Answer submitted by Brian Huggler, ABR, CRS, GRI, Tomie Raines, Inc.

------------------------------------------------------------------------

Question: Recently a REALTOR® showed my home and introduced herself as a Buyer's Agent. Her business card said "Buyer's Agent." What is a Buyer's Agent, and does it affect me as a Seller?

Answer: The term Buyer's Agent refers to an additional choice of representation currently available in the real estate industry. Your agent properly disclosed to you that she had been retained by the Buyers to represent them in the transaction just like your REALTOR® represents you in the transaction. The Buyer's Agent will provide her client with all information on other sales in the neighborhood and suggest to the Buyer what to offer for your home.

Buyer Agency evolved because consumers demanded representation when buying a home. There is nothing tricky about the concept. You listed your home for sale because you wanted it sold, and a Buyer's Agent will bring you potential Buyers. This answer is an overview of Buyer Agency, so be sure to discuss this topic in greater detail with your REALTOR® when you put your house on the market. Buyer Agency offers another choice for representation.

Answer submitted by Martha Bashore, CRS, GRI, Tomie Raines, Inc.

------------------------------------------------------------------------

Question: Why do some homes sell quicker than others?

Answer: They are priced right. Pricing is usually the number one determinant as to how short or long a home will be on the market. Obviously, the property has to be priced competitively, but do not set the price based upon what you heard a neighbor rece ived for their home. Adjacent homes can be radically different. They both may have the same floor plans, but improvements, more desirable locations in the tract, and other seemingly small variations can make a significant difference when it comes to price.

In determining the right price, one of the most important traits you need is objectivity. Homeowners naturally have an emotional attachment to their home and, because of their feelings, oftentimes overestimate what their home is worth. Despite the attachment, try to be practical and logical. Make a competitive study of recent sales that are comparable to your home. Evaluate price per square foot, age, condition, location, schools, and extras.

Remember that the value of your home can be impacted by developments that are not yet in place. Is there vacant land nearby? If so, what will be there? Is it a desirable addition to the neighborhood? If there is vacant land, visit the local planning and zoning commissions to see what might be built or check with a local real estate professional to help you find out what development plans might be in the offing. He or she should also explain the elements that go into pricing and why. Ask the associate about a CMA (Comparative Market Analysis) and what it means.

Remember, too, that little things can make a big difference once the home has been priced. Cosmetics are crucial. Spruce up the property as much as possible. A little exterior paint, some new shrubbery, and making sure that the house is always neat and clean can make a tremendous difference. The most important impression is the first; and the first thing Buyers see is the exterior. It should look good.

To get an idea as to how price is determined, contact a local REALTOR®. Ask him/her to carefully choose an associate who knows your neighborhood. In today's market, there are Buyers for homes that are priced competitively. A lack of "action" usually indicates that your property is one of those that has been priced incorrectly. Most importantly, be objective, and try to look at your property as if you were a Buyer going through it. What do you like? What do you dislike? How does it compare to other properties in the area. Is it worth more...or less? Answer those questions objectively, and you will not only be on the way to pricing your home correctly but to selling it, too.

Answer submitted by Robert E. Hubbell, Coldwell Banker Hubbell Real Estate

------------------------------------------------------------------------

Question: My husband and I just listed our home and are moving out of state. Do you have any suggestions as to how we can make our move less hectic?

Answer: Moving day can be very hectic indeed! Planning ahead of time can eliminate much of the worry and last-minute panic typically associated with relocating. Below are a few steps you can take to help make moving day less stressful:

1. Get Estimates - Check out several moving companies and ask for a quote. Compare the different quotes with the services each company offers.

2. Inventory your belongings - Sell or donate items you no longer need, and list those items to be moved so you can keep better track of them during the move.

3. Acquire Boxes - Each time you visit a store, ask if they have any extra boxes. Most stores are happy to have you take them.

4. Start Packing - Any items you don't use on a regular basis can be packed early. If you are using a professional mover, you can sometimes save money by packing yourself.

5.Change of Address - Obtain a moving kit from your post office and fill out the change of address cards ahead of time.

It is surprising how much easier a little advance planning can make your move!

Answer submitted by Brian Huggler, ABR, CRS, GRI, Tomie Raines, Inc.

------------------------------------------------------------------------

Question: I am filling out this Seller's Disclosure Statement for the Buyer to review. If they aren't satisfied, they can get a Home Inspector to check out the house. Is a Home Warranty for the Buyer necessary as well?

Answer: I have to admit, as a salesperson, I questioned the need when Home Warranties first came into the Real Estate market. I had heard and read many times that Home Warranties will help sell a house quicker and help the Seller get more for their house. I have not seen actual statistics that bear this out, but when one thinks it through, it makes a lot of sense for the Seller to get a Home Warranty on their home.

First, Buyers would feel more secure with a Home Warranty on the home during the first 12 or 13 months of homeownership. They would probably choose the house with a warranty versus one without, if all other things are equal.

Second, it seems to be true that Sellers get their house sold quicker with a warranty.

Third, it also appears Buyers feel more secure purchasing a house with a warranty, so they would tend to offer more for the house.

Fourth, Home Warranties appear to be of more interest to the young first-time Homebuyers. After all, that is what they grew up with; VCRs, Nintendo, and Microwaves all offer warranties, so they appreciate it when their home does, too.

Fifth, many Sellers feel when they have purchased a Home Warranty, the Buyer gets a Home Inspection, and they both sign a Sellers Disclosure Statement, they can walk away from the closing with no problems to worry about later.

Sixth, Sellers are covered during the time of listing and the warranty is normally paid for by the Seller at the time of closing.

The next time your salesperson asks if you want a warranty, you might want to consider it before you say, "No." The Home Warranty may attract that ONE Buyer who would pay a little more for your house because of the protection it will afford. The next time you decide you want to sell your home, ask your REALTOR® about his or her Home Warranty. Shop and compare. Some warranties are better than others.

Answer submitted by Robert L. Pohl, CRS, GRI, BriarWood Realty Company

------------------------------------------------------------------------

Question: I am considering selling my home. A friend advised me that I should ask my REALTOR® to complete a market analysis prior to listing it. What is a market analysis, and is my friend correct?

Answer: A market analysis is a method used to determine the approximate value of your home. It involves comparing your home and its features to similar homes in the surrounding area that have already sold. By comparing your home to other sold homes, you will be able to estimate an approximate sales price for your home. A market analysis should not be confused with an appraisal. An appraisal is a much more detailed analysis completed by a licensed appraiser, and it is a service for which you pay. A market analysis can be completed by a REALTOR® and is free of charge. Just ask!

Answer submitted by Brian Huggler, ABR, CRS, GRI, Tomie Raines, Inc.