Short Sales and Foreclosures

Real Estate Tips

Most houses have a few "little" problems, like leaking faucets, a stove burner that won't light, or electrical outlets with too much "spark". These defects may not seem very important--unless your house is about to go on the market.

We rarely have difficulty getting sellers to agree to paint, replace worn carpets or plant a few flowers in the front yard. These kinds of repairs obviously increase the overall appeal of the property. However, if any of the major systems in your home need maintenance, it is also prudent to have the necessary repairs made. Have your furnace, central air-conditioning system, plumbing and wiring checked as part of your pre-marketing efforts. The best rule is--if it's broken, fix it!

The purchase agreement requires that a house be conveyed with all the systems in working order, and most buyers will bring in a home inspector to identify any potential problems. During the period of time between the "meeting of the minds" and the removal of the inspection contingencies, the buyers are the most vulnerable to an attack of buyer's remorse. This is also the time when anything that hasn't been repaired could become a major issue.

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Real Estate Trivia

Q	What area in the United States has the highest per capita income?
A	The New York/New Jersey/Long Island area has a per capita income of over $750,000, according to the most current available U.S. census data.
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