Greater Milwaukee Real Estate Podcast with Mike Roth

Here are a few things you can do to help your home show better. I'm often asked by sellers about what they should do when someone comes to see their property. That's why today I want to share some advice for showing your home.  I recommend that you leave your home during the showing for several reasons. One of the main reasons is that buyers feel more comfortable seeing your house and opening up to their agent if you're not there.  Another thing I would recommend is leaving every single light on in your house whether it's a gloomy day or not. You also went to let as much natural daylight in as possible, so draw up those curtains and drapes. If you have any questions about selling your home or real estate in general, don't hesitate to reach out via phone or email. I look forward to hearing from you soon.

Six tips that will help you navigate this market as a buyer. If you've considered purchasing a home this year, here are six things you should know about buying in today's market: 1. Have a good Realtor to help you find leads. Many buyers are saying there are no listings available, but new listings are coming out every day—you just have to find them. 2. You have hours to make a decision, not days. If you see a house you like in this market, don't wait multiple days to jump on it. If you do, it'll be long gone by the time you get around to making an offer. 3. Forget about comparables. Many properties are selling over their comps, so be prepared to pay the seller a competitive price. 4. Be willing to pay over asking price to compete. If the home has been on the market for 30 days or more, that's a different story. However, in general, you have to be willing to pay over the list price. 5. Days on market are key. If a good property has been on the market for less than seven days, it's likely going to sell. If it's been more than 21 days, it's probably overpriced. 6. Cash is king. Buying without a financing contingency puts you in a strong position. If you can't pay cash, get pre-approved and make the offer without the financing contingency. If you have any questions or need assistance in buying a home, give us a call or send us an email. We'd be more than glad to guide you in the right direction.

Here's why now is a good time to sell your investment properties. Whether they're single-family homes, duplexes, townhouses, or multi-family apartment buildings, why should you consider selling your real estate investment properties now? Today I'll share five reasons why selling them soon is a good idea: 1. The prices are at a peak. Prices have been going up for the last 10 years—at some point, that increase is going to stop. 2. Rent is at a premium price right now. Rents are at the highest point they've been in a long time, and multi-family properties are generally at 100% occupancy these days. If you sell now, you're sure to get a better price for your property. “Many people are cashing out now and plan to re-enter the market when prices are lower.” 3. You can trade into another piece of real estate. If you don't want to pay capital gains taxes when you sell, you can instead opt to do a 1031 exchange. That allows you to take the proceeds from your sale and roll them into the purchase of a new investment property, all without having to pay capital gains tax. 4. The government is talking about raising the capital gains tax. If you're not doing a 1031 exchange, you may want to cash in and pay the capital gains tax now before it goes any higher. 5. You can cash out now and re-enter the market when prices are lower. This is a good idea if you decide you want to be a landlord again in the future. Many people are taking advantage of this now. If you're thinking of selling your investment property and want to know its value in today's market, or if you have any other questions, give me a call or send me an email. I'd love to help you.

Five reasons why it's best to have a real estate agent help sell your home. Many sellers are thinking that the real estate market is hot, so why should they bother hiring an agent when they could sell their homes themselves? Here are five main reasons why it's better to have a real estate agent sell your property:  1. Experience. Experience makes a difference and can't be replaced. I've had over 40 years of experience in all the different things that can come up during a transaction. No matter the obstacle, I've likely seen it before and can help you navigate through it.  2. Exposure. Agents can provide exposure to multiple different things that you wouldn't have on your own. We have past clients, spheres of influence, relocation buyers, other agents we know who have buyers, and more. We actively and aggressively prospect buyers every day for your home. The more buyers that want to buy your home, the better price you'll receive.  3. Paperwork. Mountains of paperwork are involved in a real estate transaction. It's a highly regulated industry, so there are 10-page offers to purchase, addendums, the real estate condition report, amendments, counteroffers, the home inspection, etc. There's a slew of paperwork involved in getting to the closing.  “Experience makes a difference and can't be replaced.” 4. Pricing. You want an expert helping you to price your house. There's a fine line between asking for too much and not enough. We can find that sweet spot so you get top dollar for your home. 5. Negotiation. We can negotiate a better price than you could on your own behalf because we're not a party in the transaction. Often, an array of emotions are being felt by both the buyer and seller, and we can ensure those don't get in the way of your best interests. Last year, on average, we got our sellers $18,000 more than their asking price on 40% of our transactions. So if you're considering selling, give us a call or send an email, and we'll explain how we can do that for you. We hope to hear from you soon.

Five tips to help you improve your chances of getting a home. Given how our low-inventory, high-demand seller's market is rife with competition, today I thought it would be a good idea to share how buyers can gain a competitive edge in multiple-offer situations. After all, buyers often face difficulties finding homes these days. Here are five ways to stand a fighting chance if you're looking to buy a house: 1. Get pre-approved by a lender. I don't just mean a pre-qualification letter but an actual pre-approval. If you're getting financing, the seller will almost demand that you be pre-approved, so it's a critical step. 2. Write your best offer. We've seen situations where a single home had 20 offers or more on it; one buyer even offered $90,000 over the asking price and still didn't get the house. To stand a chance, you need to put your best foot forward. Ask your agent to determine how many offers you're competing against for that home. “The fewer contingencies you have, the better your offer looks.” 3. Accommodate the seller's needs in terms of closing dates and occupancy. Make sure your agent finds out when your seller's preferred closing dates are and whether they're looking for a post-occupancy agreement. If they do need a post-occupancy period, it might be worth making that free to them to boost the appeal of your offer. 4. Exclude any possible contingencies in your offer. For example, if you think the house is in good enough condition to exclude the home inspection, then exclude the home inspection. If you're not concerned about the appraisal, exclude the appraisal contingency—many homes aren't appraising these days anyway. The fewer contingencies you have, the better your offer looks. 5. Consider writing a personal letter to the seller. Many sellers want to know why you want their house, which features you like the best, how well you're going to take care of it, etc. Write them a personal letter detailing these things to generate an emotional connection and explain why your offer is the one they should accept. If you have questions about competing as a buyer in today's market or anything else to do with real estate, don't hesitate to give us a call or send an email. We'd love to help you.

Here are four questions to ask about whether to sell or rent your house to tenants. A frequent question we receive when clients are moving to a new home is: “Should I sell or rent out my previous residence?” Some people consider renting it because they couldn’t sell it, couldn’t get the price they wanted, or think it’ll be a good investment. To help you make this decision, there are four questions you need to ask yourself: 1. Do you want to be a landlord? Responsibilities come with this position. Sometimes tenants don’t pay their rent, repairs need to be done, you’re in charge of maintenance, and more. 2. Does the property have cash flow? After the rent comes in, are you earning money or losing it? If you aren’t gaining, (even if you’re breaking even) it’s not worth holding onto the property. If you do have cash flow, it may be better spent by investing it in a duplex, two-family, or multi-family house; these will have more cash flow potential than a single-family property. “In most cases, you’re better off selling your former primary residence.” 3. Will the tenant take good care of it? Will the tenant take as good of care of the house as you would? In most cases, the answer is no. This was your home—how will that make you feel? Even if you’re fine with that, there are going to be costs associated with getting the property back to great condition when you decide to sell.  4. Will you have to pay capital gains tax? Once it turns into a rental property, you’re potentially subject to paying capital gains taxes. If you don’t close on a sale of the property two years after moving out, it’s considered a rental and you have to pay as much as a 20% tax on any gains you made on it. For all the details, check with your accountant.  As you may be able to tell, in most cases you’re better off selling your former primary residence. If you have further questions about this or any other real estate-related topic, give us a call or send an email. We would love to help you.

Since the COVID-19 outbreak, the process of showing homes has had to change. During this stay-at-home period, real estate is considered an essential business, which means we can still operate by listing, showing, buying, and selling real estate. However, we do have to follow certain guidelines to keep our agents and clients safe. For one, home showings must be done by appointment only, and no more than five people will be allowed into a home at a time—only the decision-makers in a family will be allowed. We’re also asking sellers to leave the home, since the fewer people there, the better. Of course, we’re also practicing social distancing by doing our best to remain six feet away from each other when we go into the house, on top of wearing gloves and masks. The buyers will be instructed not to touch any surfaces, and any surfaces that are touched will be cleaned with sanitizing wipes. Furthermore, we’ve been putting up signs on our listings specifically stating that if the buyer is sick or has symptoms, we don’t want them to enter the premises. “No more than five people will be allowed into a home at a time.” Another option for sellers is to do virtual showings and listing videos to augment your listing photos. Buyers can then make an offer on your home subject to inspection. In the end, even though stay-at-home orders have shaken up our process, you always have options moving forward. If we can help you with your real estate needs during the pandemic, don’t hesitate to reach out to us. We’re here to help.

Despite the COVID-19 pandemic, buyers are still buying and sellers are still selling in our market. How have the COVID-19 pandemic and subsequent stay-at-home ordinances (which have been extended until the end of May) affected the real estate market? Real estate has been deemed an essential service, and obviously, the health and safety of our clients is our top priority. We can still show homes by appointment only and list them, and while showing homes, we do our utmost to practice social distancing. We can’t, however, host open houses or have more than five people inside a house at the same time.  Don’t buy into the myth that homes aren’t selling. From April 1 to April 17, 727 new listings hit the market in the Greater Milwaukee area, and 594 homes went under contract. Buyers are still buying, too—especially with interest rates this low. Home sales last March increased by 8% to 10% in most areas compared to March 2019. This makes now a good time to sell.  “We can still show homes by appointment only and list them, and while showing homes, we do our utmost to practice social distancing.” Prices haven’t dropped, either. If anything, we’re seeing multiple offers for homes over their asking price. We just sold a home in the Sussex/Lisbon area that generated four offers, all of which were over asking price.  Will they eventually go down? Considering everything that’s happening with the economy. If I were a gambling man, I’d say, yes, eventually they will go down, given everything that’s happening with the economy. Everything is based on supply and demand. Right now, supply is low and demand is high, but after the stay-at-home ordinances are lifted, there will be a lot more people listing their homes. When supply rises faster than the demand, that’s when prices drop, and I predict this drop to happen in three to six months. How far prices will drop is anyone’s guess.  If you’re ready to sell or have questions about our market, don’t hesitate to reach out to me. My team and I would love to help you.

Here’s what you should know about how Zillow determines the value of your home and why it’s flawed. With the growing popularity of Zillow and other instant offer sites like it comes one important question: Can you trust Zillow’s estimate of your home’s value?  For perspective, Zillow has only been around since 2007; I’ve been in real estate since 1981, so I think I have a leg up on Zillow. In most cases, when Zillow comes up with its valuation (known as a Zestimate), they don’t even step foot into your home, they just crunch marketplace data.  “To be honest, I don’t even think Zillow knows why it changes its figures.” Zillow uses an algorithm to estimate home value, and there’s no way for that algorithm to factor in any improvements you’ve made to the property. I’ve had several people ask me, “Well, why did Zillow raise my price,” or, “Why did Zillow lower my price?” To be honest, I don’t even think Zillow knows why it changes its figures.  The bottom line is this: Don’t trust Zillow. What you need to do is get an experienced agent to look at the inherent benefits of and improvements to your home. Here at the Roth Team, we compare what homes like yours have recently sold for with what’s currently on the market. Then, based on your competition, we position your home so you get the highest price possible.  Again, don’t fret if Zillow gives you an estimate that seems leagues lower than what you feel is right. It almost certainly is too low, so seek out a professional opinion. If you’re thinking of selling a home soon, don’t hesitate to reach out to me or someone else on the Roth Team. We’d be happy to sit down with you and figure out how to get you the most money for your home.

Today I’m sharing my predictions regarding prices, inventory, interest rates and average days on market. To bring you up to speed on our current real estate market, interest rates are still low, and we’re looking at fixed-rate mortgages as low as 3% to 3.5%. Here are my predictions on what the market will do in this new year:  1. Interest rates will stay low. The government said it wants to hold interest rates, so I think for at least the next six months you can expect them to stay low, but after that—you never know.  2. Inventory will increase. As of the beginning of January, we’re seeing the lowest level of single-family homes for sale in the Milwaukee area, less than 4,000. For reference, compare this number to roughly 9,000 homes in January 2015. However, as we head into the spring and summer months, I do expect that we will see an increase.  “I predict that in 2020 we will see a 3% to 5% increase in prices.” 3. Median sale prices will continue to go up. The rise likely won’t be as high as what we saw recently in the Milwaukee area, where prices in some cases increased by 8% to 10%. I predict that in 2020 we will see a 3% to 5% increase in prices. If inventory levels get higher, prices may even level out.  4. The average days on market will increase. In most market places, the average days on market is about 30 days. The higher price-range homes (anything from $500,000 to $1 million-plus) are still taking longer to sell and aren’t going up in value as much. The average days on market in 2020 will be lengthened by an increase in inventory.  It’s a great time to buy a home when you consider how low the interest rates are; if you need pre-approval, contact us and we can get you set up with a lender. Sellers: take advantage of what will be the seventh year of a strong seller’s market.  If you would like to get a valuation on your home, give me a call or reach out to anyone at the Roth Team. We’d be happy to help you.

All sellers want to get the most they can out of their home sale. However, there are some issues associated with listing your home for too high of a price. Today, I’ll be discussing the five dangers of overpricing your property. An overpriced home will lead to fewer showings. The fewer showings you have, the fewer chances you have to get an offer on your home. An overpriced home will attract the wrong buyers. Buyers seek out homes based on their price brackets. If your home is missing the features and amenities of other homes within the price range you’ve placed it in, buyers are going to notice. Buyers who are looking in a given price range know what they want and expect from homes. You must price your home according to its true value so that you can capture buyers who will be legitimately interested.“Overpricing your home when you put it on the market can be a huge mistake. Today, I’ll explain why.” An overpriced home helps your competitors.If a buyer looks at your home and then visits another that is priced the same but comes with more features, your competitor’s home will look like a much better deal. An overpriced home takes longer to sell. In some cases, overpriced homes may not sell at all. An overpriced home that is later reduced won’t have the same impact. If you lower your home’s price after it has already been sitting on the market, it will lack the impact of a new home coming onto the market that was priced correctly from the start. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Now that we’ve reached the end of summer, it’s time for a market update. I was looking at some statistics from our MLS recently and discovered five things I think you should all be aware of: 1. The number of listings is down. This is true for all the various counties in our local market. Milwaukee County is down about 8%, Waukesha County is down about 7%, Ozaukee County is down 8.6%, Washington County is down 11.1%, Walworth County is down 11.5%, and Racine County is down 8.3%. So, as you can see, there are fewer options available these days for buyers. 2. Sales are still up. Despite the lack of listings, sales are up across our market with the exception of Waukesha and Walworth County. “Whether you’re thinking of buying or selling, now is a great time to do so.” 3. The average days on market are down. The average days on market is approximately 39 for the entire area. A year ago, the average days on market was around 10 to 15 days higher than this. 4. Median sale prices are up. In Milwaukee County, prices have risen about 5%, for a median sales price of $162,500. In Waukesha County, prices are up over 5%. There, the median sales price is $295,000. Ozaukee County’s median sales price is up to $300,000, having risen 7% over last year. In Washington County, the median sales price is nearly $249,500, which represents a whopping 17% increase over last year. Walworth County’s median sales price rose 12% to $213,000, and Racine County is up an astounding 26%, for a current median sales price of $178,000. 5. Interest rates are on the rise. This is something you’ve probably already heard. Yet, you should note that it’s still affordable to purchase a home. Right now, you can still get a 30-year fixed mortgage for about 4.5% or 4.75%. With that in mind, though, the Feds are set to raise rates a few more times by the end of the year. Whether you’re thinking of buying or selling, now is a great time to do so. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Today I’d like to discuss some innovative technology our company utilizes to help buyers and sellers. We call this technology our Shorewest Real Estate Hotline. Essentially, this is a 24-hour, bilingual information line that generates results for buyers and sellers. This replaces the old system of putting a brochure in a box in front of a house. Here’s how the Hotline works: We put a hotline number, (262) 814 1400, on our signs, with is a PIN designated to that particular property. A buyer can call in anytime they want to hear a verbal description of the house, and they can be put in contact directly with the listing agent. Additionally, the buyer can have pictures of the house and information texted to them. “This technology allows buyers to get information about a property immediately, even if they didn’t see an ad on the property.” This technology allows buyers to get information about a property immediately, even if they didn’t see an ad on the property. It also attracts more buyers for sellers by providing an easy way for those driving by to inquire about the property. Further still, it allows agents to respond quicker to buyers since we’re notified of their inquiry immediately. We can contact them and ask them if they’d like more information on the property or possibly come view it. If you have any questions about the Shorewest Real Estate Hotline, please feel free to reach out to us. We’d be more than glad to answer any questions you have.

Should you leave room for negotiation in your list price? Many people think that they need to take thousands or tens of thousands less than their asking price. That’s not true. I looked up some statistics for Greater Milwaukee and checked the average list-to-sale price ratio. Here’s what I found for each county in the Greater Milwaukee area: Milwaukee County- 98% Waukesha County- 98.3% Ozaukee County- 98% Washington County- 98.6% Racine County- 98.7% Walworth County- 96.7% “The market won’t let you underprice your home, but you can overprice it.” Based on these figures, you can see that you’re better off pricing your home at a price that is going to cause it to sell and bring in the most buyers. If you ask too much for your home, you won’t get showings, therefore you won’t bring in buyers. Another thing you need to understand is that the market won’t let you underprice your home. A buyer who was working with our team who made an offer on a house that was $20,000 above its asking price and didn’t get it. The market wouldn’t let that seller underprice their home. If you have any questions about what’s happening in the market or with your individual home, don’t hesitate to reach out and give us a call or send us an email. We would love to help out.

Do you really need an open house to sell your house? Actually, you don’t. There are six reasons why open houses don’t work anymore: 1. Only 1% of all buyers come from open houses. I’ve been in this business 37 years. I’ve done hundreds of open houses and I can count on my two hands the number of buyers that actually purchased a house they walked into during the open house.  2. You tend to get buyers who are just lookers, or looky-loos. You also get nosy neighbors who want to know what your house looks like, people looking for decorating ideas, or other neighbors who want to sell their home and want an idea of how to price it.  3. We can’t pre-qualify the buyers. Even if buyers go to the open house, they may not be able to afford it. They may not be ready to buy because their house isn’t on the market. You simply don’t get qualified buyers.  “You don’t get qualified buyers at an open house.” 4. Most buyers are working with a professional Realtor. As a result, they will see your home by appointment. Showings are key.  5. Your home shows better online. We have our photographer take some great listing photos so buyers can see your home online without having to go to an open house. Your house often looks better in those pictures than in person.  6. It’s a passive method for selling your home. With an open house, you’re basically waiting for someone to show up and buy your home. Our real estate team uses an active marketing program. We are out there every day talking to buyers, other agents, and sellers who might need to buy a home to see if they want to buy a home like yours or if they know someone who does. If you want to sell your home, an open house is not necessary. You just need to show your home by appointment and make sure those buyers are pre-qualified. If you have any other questions about selling your home, just give me a call or send me an email. I would be happy to help you!

After you’ve done all the decluttering, cleaning, and depersonalizing, it’s time to get your home ready for a showing. Here are seven tips that will help you get your home sold: 1. Have buyers and agents come through your front door. Your home always presents itself better this way because you’re entering through the largest room in your house. 2. Get the most use out of your natural light. During daytime showings, have all your blinds pulled up or at least open. Your home shows best with natural daylight.  3. Have lights on in rooms that don’t have enough natural light. Maybe you have a basement or attic room with a small window. Have all the lights on in these rooms during showings.“Be conscious of any odors that may be unpleasant.” 4. Leave the home during showings. When the homeowner isn’t present at the showing, we find that buyers ask more questions, show more emotion, and are more likely to buy when you aren’t there. 5. Make sure your pets are gone as well. Get any evidence of any pet out of your house while you’re at it. Don’t get rid of them for good, just during the showings. 6. Be careful of odors. Be conscious of any odors that might come from pets, smoke, or food. We don’t recommend trying to cover up any of these odors. Some buyers will think you’re covering things up.  7. Always say yes to an appointment showing. This is the most important tip. You never know when the right buyer for your home will come across. A buyer who makes an appointment showing is a motivated buyer who is ready to buy.  If you want to sell your home quickly, these are some great tips to get it ready for a showing. If you have any questions for me in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon. 

Today, we have a guest with us, Jim Finch from Schroeder United Movers, to answer some questions that my clients have had about moving. 1. “Where do you move people to?” We can move people anywhere. United van lines can move people all around the world. Here in town, we can move people locally as well as all around the United States. 2. “What does a typical move cost?” For something like a 2,500 square foot home, a local move could cost anywhere from $500 to $3,000, depending on the services you request and how far you’re moving. For a farther move, like from Greater Milwaukee to Atlanta, costs could range from $1,500 to $10,000. 3. “What are the variables for those costs?” The type of service and the amount of stuff moved will affect the cost. Whether you’re only bringing personal possessions or you’re bringing all of your furniture will vary the expense, as well as if you need temporary storage space. That’s why we try to get our sales representatives out of the house and take a look at the situation. Then we can give them a price estimate right then and there. Another factor is that our company is insured, so any potential damages will be covered. “The type of service and the amount of stuff moved will affect the cost.” 4. “What types of storage options do you have?” We have different sizes of moving containers that we ship on our trucks, which are especially useful if people don’t have that much. 5. “When are you the busiest? How far in advance should someone contact you?”The busiest moving times are between April and September. In that period, we probably would need three or four weeks’ notice. As we get into the fall and winter, we’re pretty flexible. 6. “If someone wanted an estimate, how could they reach you?” Our phone number is(262) 446-4709, so call me and I can provide you with whatever information you may need. If you have any questions about moving or selling your home, feel free to reach out to us at the Roth Team. We will be more than glad to help you out.

Today I’m joined by Chris and Roger with Accurate Basement Repair to talk a little bit about a basement excavation project they are doing and how they’re making sure things are done the right way. According to Roger, when a basement wall has cracked, failed, and moved too far, it can’t really be braced. It has to be straightened and braced instead. If a wall has moved more than one inch off of the foundation, excavation repairs are going to be necessary. “If you have foundation problems, these are the guys to call.” If you’re having problems with your basement or know somebody who is, you can’t do better than these guys. Give them a call at (414) 744-6900 or visit them at accuratebasementrepair.com if you have any questions. In the meantime, we’re always here to answer your real estate questions and help with anything you need. Don’t hesitate to reach out to us anytime. We look forward to hearing from you!

What can you expect from the 2018 real estate market? Based on my 37 years of experience in the real estate industry, I believe these four things are going to happen: 1. Interest rates will rise. Interest rates already went up in December of 2017, but the government announced that they will raise rates two or three more times. These will not be substantial increases, but we could see fixed rate mortgages go from 4% to 5% or 5.5%. 2. Inventory levels will increase as a result of the rate increase. Although inventory usually increases by 20% to 25% each spring, we will see even higher inventory levels this summer and fall. 3. Home prices will start to level off as inventory increases. Prices have been going up since 2012. In some marketplaces, prices increased above the peak we saw in 2006. As a result, I believe that we will see these prices level off in the next six to 12 months. “Home prices will start to level off as inventory levels increase.” 4. The average days on market will go up. Some areas have an average days on market of less than 30 or 45 days. By the end of 2018, we will see the average days on market get back to the normal range, which is somewhere between 90 to 120. If you are thinking of buying or selling in 2018, these are important things that you’ll want to plan for. If you are thinking of selling, now is the time. If you are thinking of buying, you’ll want to buy before interest rates go up. If you have any other questions about real estate, just give me a call or send me an email. I would be happy to help you!

If you’re selling your home, why should you hire a full-service brokerage like the Roth Team instead of a limited-service, discount broker? There are four points you need to remember. 1. Exposure and resources. At Shorewest, we have 900 agents who each get paid a 25% bonus if they sell your home versus one that just got listed on the MLS. We have the resources for relocation buyers moving in and out of town through corporations and our contacts with other national real estate companies. Discount brokers don’t have these same resources. We also offer active marketing. There’s a difference between listing your home and passively waiting for a buyer to show up and actively finding a buyer. Speaking for myself and the Roth Team, we actively and aggressively market your home to the buying public every day. 2. Professionalism. When you’re selling your home, you want someone who will answer the phone at their office and return your calls. Many discount brokerages will leave you talking to an answering machine most of the time. Follow-through like that is the biggest reason why we sell more homes. 3. Negotiation skills. Think of it this way—if a discount agent is so quick to give up their commission for you, how quick will they be to give up your price to the buyer? On average, we net our homeowners 2% more on their sale price than limited-service brokers because they don’t have the skill and knowledge to negotiate a good price on your behalf. “Our service nets home sellers more money than limited-service, discount brokers.” 4. Results. In 2016, 16 of our limited service brokerage competitors sold 2,500 homes combined. Our company sold over 12,000. We outsold them five-to-one. There is a reason people use our service—it works, and it gets them more money. If you have any more questions about how we can net you more money in your home sale than a limited-service, discount broker, don’t hesitate to reach out to us. We’d love to speak with you.

I’m joined by Chris Mancuso, the owner of Accurate Basement Repair. Chris has been in the basement repair business for over a decade and helped hundreds of customers all throughout eastern Wisconsin. Today, we’ll go over a few common questions buyers and homeowners alike have about their basements. As a buyer, what concerns should you look for in the basement? It’s important to look at the walls and the floor. You should also go outside the home to check on the grading, gutters, and downspouts. When you enter the basement, Chris recommends using a flashlight so that you can focus on each area of the basement. In the video above, the basement we’re in already has reinforcements installed. The previous owner must have put these in to deal with a structural issue. These steel columns were installed to hold the walls in place. You should look for any cracks, structural issues, and water intrusion. What kind of cracks should you be concerned about? Not all cracks are bad cracks. Almost every basement has some kind of crack in the wall. For example, there is a vertical crack in the wall in this basement. Chris says that this is a settlement crack from years ago, and that he didn’t see any recent movement that would affect the structure upstairs. As a homeowner, you should always have a professional come out to determine which cracks you should be concerned about. Common concerns would be any cracks that come off the window ledges and long, horizontal cracks. The cracks by the window could indicate that the wall is tilting inward, while long, horizontal cracks indicate bowing in the wall. Both of these issues have to be fixed, but they are each addressed a little differently. “You should always have a professional come out to assess a crack in the basement.” What is the acceptable standard for movement of a wall? What do you do to fix the wall if it is bowing beyond that standard? This year, the state of Wisconsin did issue a code for wall instructions. That is good news for buyers, as inspectors now have a code to look at. If there is cracking in the wall with less than an inch of displacement, you will need to install the vertical steel bars we mentioned earlier. If there is more than an inch of displacement, you’re also looking at excavation, wall strengthening, and reinforcements to repair the issue. Accurate Basement Repair can give you estimates and help you with all of these repairs. Why should you be concerned about water intrusion if you’ve never had water in the basement? There are a lot of preventative measures you can take to make sure that you never get water in your basement. You might not have noticed any water pooling anywhere, but if you are suffering from wet sock syndrome, there is some water in your basement. You should also look for efflorescence (or discoloration) on your basement walls. This could indicate a drain tile issue or a grading and downspout problem, as is the case with this property. Thanks to Chris for stopping by today. If you have any questions for him or if you would like him to inspect your basement, you can give him a call at 414-744-6900 or check out Accurate Basement Repair’s website. As always, if you have any real estate questions, just give me a call or send me an email. I would be happy to help you!

Zillow’s Zestimates can be deeply flawed when it comes to determining your home’s value. Here’s what you should do instead. I get a lot of questions from people asking me if they should trust the value that Zillow gave their home. To answer that, let me share a few facts with you about Zillow. As a company, they started in 2006. Prior to that, they weren’t involved in the real estate market. Last time I checked, they haven’t sold any homes, either. Zillow is basically a company that collects whatever data they can find and then puts it into their website to determine home values. The one thing Zillow can’t account for is the upgrades or special features of your home. Think of it this way: has Zillow been in your home? Of course not. Zillow’s estimates, called Zestimates, are determined by an algorithm based on comparable homes sales. In the greater Milwaukee metro area, Zestimates can be off by as much as 10% or more. Zillow even admitted that 46% of the time their Zestimates were off by at least 5% or more. ZILLOW’S ZESTIMATES CAN BE OFF BY AS MUCH AS 10% OR MORE. As you might’ve heard by now, a homeowner in Illinois actually filed a lawsuit against Zillow because they claimed their Zestimate harmed their home sale. This may yet turn into a class action lawsuit. Zillow knows they have a problem, and they’ve gone as far as offering a $1 million prize to anyone who can fix their algorithm. In the 11 years since Zillow has been around, whenever I get calls from prospective buyers about homes they’ve found on Zillow, I’ve found that 35% of the time their information is inaccurate. Our website’s information, on the other hand, is 98% accurate. Taking all of this into account, I wouldn’t put much credo into Zillow’s Zestimate. If you really want to know the value of your home, call a professional Realtor. We can physically look at your home and all of its upgrades and features to provide an accurate valuation. If you have any questions about Zillow or you want to know the real value of your home, don’t hesitate to reach out to me. I’d love to help you.

To win a multiple offer situation as a buyer in our Greater Milwaukee market, I have seven tips for you to follow. In our current market, if you see a home you like that’s a hot property in a favorable price range, there could be multiple offers for it. If you find yourself in this situation and have to compete with other buyers, here are seven things you can do to make your offer the best of the bunch: 1. Make sure the seller knows you’re qualified. The best way to do this is to get a pre-approval letter (not a pre-qualification letter) from your lender and submit it along with your offer for at least the mortgage amount or higher. 2. Submit a large earnest money deposit. A normal deposit in today’s market is 1% of the purchase price, so make yours 2%, 3%, or even 5% of the purchase price. If your offer doesn’t get accepted, you’ll get that money back anyway. 3. Find out from your agent what’s important to the seller. Do they prefer an earlier or later closing date? Do they want certain items excluded from the sale? Your agent can find these things out by talking to the listing agent prior to you making your offer. 4. Give the seller time to move. I understand you want to move in as fast as possible, but normal closings take about 45 days, so if you’re expecting them to be out in 20 to 30 days, that’s unrealistic unless it’s a vacant property. 5. Consider shortening or waiving some of the contingencies you have. For example, instead of waiting two or three weeks to do a home inspection, do it within seven days. If you think the property is good enough as it is, consider waiving the inspection altogether. The fewer contingencies you bring, the better chance your offer has of being accepted. 6. Let the seller know you love their house. I suggest writing a brief letter to the seller outlining why you love their house and why they should pick you to be its buyer. And remember—be sincere. “MAKE YOUR FIRST OFFER YOUR HIGHEST AND BEST ONE.” 7. Make a good offer. Make your highest and best offer now because you may not get countered. Excuse the listing price and have your agent do a comparative market analysis—sometimes properties are priced below market value, and you may have to offer thousands of dollars more to get that property. If you have any questions about getting your next home in today’s competitive market, don’t hesitate to reach out to us. We’d be happy to assist you.

Radon gas can be very harmful. Here’s how to make sure the levels in your home are acceptable. Over 50% of the houses we sell have radon gas inspections done. Eric Clark from Lifetime Radon Solutions is here with us to talk a little bit about radon gas, what it is, and how you can treat it if the levels of radon in your home get too high. Radon is an invisible, odorless, colorless gas. We know it’s there, but we don’t know it’s there. It’s a naturally occurring radioactive gas that comes from uranium in the soil and is concentrated in the home. The midwest is notorious for high levels of radon. Wisconsin is right up there. Radon can’t be seen or smelled, but it can be measured and it can have consequences. Behind smoking, radon gas is the 2nd leading cause of lung cancer in the U.S. Every house has radon, it’s just a matter of how much. The EPA recommends action for any radon levels above 4 pCi/L. “A SOLUTION TO A DANGEROUS PROBLEM.” Lifestyle Radon Solutions offers radon mitigation systems and they can install them in a number of ways. They draw the radon gas out from the home by creating a negative pressure that gets the gas out before it even enters the home. They guarantee that your radon levels will be below 4 pCi/L with one of their systems.The price range for one of these systems is anywhere from $845 to $1305. So even if you have high radon levels in your home, it is fixable. If you have any questions for Eric about Lifestyle Radon Solutions and any of the services or products they offer, give him a call at (262)-955-7701. If you have any other real estate questions, don’t hesitate to reach out to us anytime. We look forward to hearing from you.

Getting a home warranty is absolutely a good idea if you’re a home seller, and here’s why. Should you use a home warranty to help sell your house? Yes, I strongly recommend that you do. Getting a home warranty offers many advantages to a home seller. For example, we work with a company out of Madison called Home Security of America. They provide warranties on the sale of used or existing homes just like a builder would on a new construction home. Typically, a builder would cover you for one year after closing, and the same thing applies with Home Security of America’s warranty. “GETTING A HOME WARRANTY HELPS SELL YOUR HOUSE.” Their warranty covers any major problem with the plumbing, the electrical, the heating, the air conditioning, the appliances in the house, etc. The seller also gets free coverage while the home is listed for plumbing, electrical, and the water heater. On a single-family home, the cost for full coverage is typically $564. The most obvious benefit of getting a home warranty is that it helps sell your home. If your home has a warranty and one of the other properties your prospective buyer is looking at doesn’t, that may sway them to buy yours. Secondly, getting a home warranty provides is peace of mind—not just for the buyer, but for you too. If something goes wrong in the home, it can be fixed or replaced by the warranty company with a nominal deductible. If you have any other questions about home warranties or you’re thinking about buying or selling a home, feel free to give us a call. We’d be glad to assist you.

There are seven big mistakes that I commonly see people make when selling their house. Here’s how to avoid them. When you sell your house, there are some common mistakes that I see too many sellers make: 1. Picking the wrong agent: Most people pick an agent they know or a relative rather than one with proven track record who sells homes full time and has experience in the area. 2. Overpricing the home: There’s a fine line between getting the best price and asking too much and selling too cheaply in the end. Get a professional’s opinion on the value of your house and listen to them! 3. Not making simple repairs to their home like cleaning and new paint: Some sellers don’t even want to replace minor things like missing fixtures or handrails. A good agent can advise you on what to repair. 4. Too much clutter: We all have too much stuff, so get rid of all that clutter when selling. “GIVE BUYERS AN ENVIRONMENT THAT LETS THEM OPEN UP TO THEIR AGENT ABOUT YOUR HOME.” 5. Not allowing adequate access: Most buyers will want to see your home by appointment, and sometimes they might want to see it on shorter than a day’s notice. Let them in; they’re ready, willing, and able buyers. 6. Staying during a showing: You want to leave while a buyer looks at your home so they have an environment where they can open up to their agent and ask questions without feeling like they’re intruding on your privacy. 7. Leaving pets in the house during showings: Cats and dogs are great, but they can be a distraction. If you’re thinking about selling your house or you have any questions at all about real estate, don’t hesitate to give us a call or send us an email. We’re here to help.

Today I’m going over four tips for improving your credit when applying for a home loan. How can you improve your credit score when applying for a house loan? First, don’t open or close any credit accounts, as that will lower your score. Second, check your credit card balances. You want to keep your credit card balance at 25% or less or if you can, pay off the cards each month. “YOU WANT TO KEEP YOUR CREDIT CARD BALANCE AT 25% OR LESS.” Third, this may be common sense, but don’t switch jobs. You generally need two years in the same line of work and one year with the same employer. Finally, don’t buy new furniture or a car until after you’ve purchased the home. Those types of big purchases could significantly affect your credit score. If you have any questions about buying a home or getting a better credit score, please feel free to give me a call or send me an email. I’m more than happy to help!

Should you be concerned about the impact rising interest rates will have on the current real estate market? As you probably know, over the last couple of months, interest rates have been on the rise. Should you worry about these increasing rates? Over the past couple of months, fixed-rate mortgages have gone up just over 0.5%. Rates can be as high as 4.25% and as low as 3.5%. In real terms, this rise in rates means that if you took out a 30-year mortgage on a $250,000 home, you would pay as much as $100 more each month and pay an additional $35,000 over the life of the mortgage. That is a sizable chunk, so some people are nervous that increasing rates will slow down the market. “OUR MARKET IS NOT GOING TO SLOW DOWN ANYTIME SOON.” However, the market is not about to slow down anytime soon. Why? Historically speaking, these rates are still incredibly low. Back in the 90s, rates were as high as 10%. In the 80s, interest rates were at 16%! As you can see, these 4.25% rates are still incredibly low. What does that mean for you? As a buyer, these low rates create a great opportunity for you to buy an amazing home, which is way better than renting. If you want to sell your home, you are in a great position to do so quickly and get top dollar. If you have any other questions about interest rates and our current market, give me a call. I would be happy to help you!

If you’re selling your home and you have pets, follow these tips to appeal to more buyers. I thought I’d take some time today to talk a little bit about selling a home with pets. I’ve got five steps that will help you prepare your home for sale while your pets are living there, too. Whether you have a cat, dog, bird, or any other animal, follow these tips: 1. Get the pet(s) out of the home before showings. Whether buyers love or hate your pet, they are going to be a distraction during the showing. The best thing to do is have a doggy daycare, a family member, friend, or neighbor watch the pet while there is a showing going on. If you have no other option but to keep them in the house, make sure they are put in a kennel. 2. Hide evidence of pets. This includes food and water bowls, leashes, and toys. Eliminate any pictures of your pets and other signs that suggest you have them. 3. Clean up any pet mess. Be conscious of their hair, stains, and any other damage they may have caused in your house. 4. Remove any odors. Ask your agent or someone who doesn’t come to your house regularly if they notice any pet odors. If they do, fix it. Odors can linger in places like the carpet, a bed, or furniture. Clear those odors out with fresh air as opposed to air freshener. “ODORS CAN LINGER IN CARPET OR FURNITURE.” 5. Prepare your yard. This could be one of the best selling features in your house, so you want to make sure all waste is picked up and repair any damage to grass. If you want to sell your home and you have a pet, it’s much easier if you follow these steps. If you have any questions for us, give us a call or send us an email. We look forward to hearing from you soon.

If you are looking for a real estate agent, it is vitally important that you ask them these five questions before giving them the important job of selling your home. Despite what most people think, not all agents are created equal. Are all attorneys the same? Are all CPAs the same? Are all doctors the same? Of course not. So, how can you make sure that you hire the right real estate agent? I recommend asking them these five questions: 1. How many homes have you sold so far this year? You should also ask how many homes they sold the previous year. Why? The average agent sells fewer than three homes in a calendar year, which means that they probably don’t know much about real estate. At the Roth Team, we’ve sold 175 homes so far this year; last year, we sold 236 homes. 2. What is your average list to sales price ratio? In other words, how close is the purchase price to the asking price? Some agents offer a lower commission because they will give your house away. They let the buyer negotiate the price down. Our average list to sales price ratio is 98.4%, which is very close to asking price. “YOU NEED AN EXPERIENCED AGENT WHO WORKS FULL-TIME.” 3. What is the average days on market for the homes you list and sell? Of course, if it takes an agent six months to a year to sell homes, they are wasting time and money. This year, our homes spent an average of 48 days on the market. 4. How many years of experience do you have? Do they have another job? Quite honestly, many agents do not make enough money to support their income in real estate. Many agents have less than three to five years of experience in the market. I’ve been doing this full-time for 35 years. Experience counts; it can really make a difference when it comes to selling your home. 5. How many people will you talk to every day to sell my home? Every agent puts your home on the MLS, throws it on a few websites, and takes out an ad in the paper. Some agents may even hold open houses. However, those methods are not good enough. They need to personally contact potential buyers every day. We call that active marketing. Our team contacts as many as 100 people a day to get your home sold. If you have any other questions about real estate, please don’t hesitate to give us a call or send us an email. My team and I would be happy to help you!

There are four major mistakes that buyers make during the process of buying a home. These are general mistakes that buyers make whether they’re buying their first, second, or third home: 1. Not getting pre-approved for financing before looking at homes. This process is very simple: contact a local lender and, within 48 hours, you can get pre-approved over the phone or Internet. There is no cost or obligation, so I highly recommend you do this first. You’ll also know what you can afford and what the costs are. Smart sellers will require you to have a pre-approval letter anyway. 2. Getting pre-approved by on out-of-state or online lender. With these lenders, you can’t talk to them in person. Your lender is someone you’ll want to have face-to-face contact with. I see a lot of people using these online services because they offer a cheaper rate, and it’s a big mistake. I’ve heard too many horror stories about these lenders not being able to process a loan in time. Call your real estate agent for a recommendation for a local bank or mortgage company. 3. Not having a full-time agent. You want someone who does this as their full-time job actively looking for homes with you. There are all kinds of online searches you can use, like Zillow and Trulia, that are not very accurate and are not rated well by the Better Business Bureau. You want to have a full-time agent looking with you because many times that agent knows about listings before even going online. 4. Not having an experienced agent writing the offer and negotiating on your behalf. Many buyers just pick any agent or work with the listing agent of the home they’re buying. You want someone who is working on your behalf to write the offer with your best interests in mind, and then negotiate the best price for you. If you have any questions about the home buying process or you’re interested in buying a home, give us a call or send us an email. We’d love to hear from you!

Fall is here and a lot of people are asking, “Should I sell my home now or wait until the spring?” I believe there are four reasons why it would be better to sell your home now rather than waiting for spring. In my opinion, the number one reason to sell now is to take advantage of low interest rates. Rates are hovering in the 2.9% to 3.5% range, which is practically free money. I don’t anticipate those rates staying low much longer. Why not? It’s an election year. I have been through eight elections already and, after each one, rates typically go up. The government holds rates down to make their party more favorable; once the election is over, rates will go up. It is highly likely that rates will be higher next spring. That’s the second reason you should sell now because higher rates do affect your home sale. Interest rates are low, but they will go back up soon. Another reason you should sell now is the low inventory. In some of our marketplaces, we’re seeing as little as 30 to 90 days of inventory available on the market. A couple of years ago, those inventory levels were significantly higher, with six months of inventory available. There will be more homes on the market in spring, which means you will wind up competing with more sellers. Since inventory levels are low now, you’ll have a better chance of selling your home. Finally, in my opinion, the seller’s market is coming to an end. I have been doing this for 35 years and I’ve talked to brokers all over the United States and they agree. In fact, certain markets like California and Florida are already seeing the seller’s market change. Inventory levels have gone up to 180 days and prices are not going up any higer. If you are thinking of selling your home, you should sell now before the seller’s market ends. In short, selling your home this fall is actually more advantageous than waiting for spring. If you have any questions about preparing your home for the fall market or about real estate in general, give me a call or send me an email. My team and I would be happy to help you!

Many homeowners want to know what their home is worth before they put it on the market. How do buyers determine the value of your home? In other words, how is market value determined? First, though, there are a few misconceptions about home value that I would like to clear up: Home value is not based on what you want or need to pay off your loan amount. Home value is not based on what your neighbors think you should get for your home. After all, neighbors are biased. Your tax assessed value does not reflect market value. Tax assessed values can be off by as much as 20%. The appraised value is not the same as market value. If you have an appraisal that is a year old, it is based on outdated information. Home value is different from your insurance value. Insurance companies insure the house for the rebuilding or replacement cost, which is much higher than market value. Sites like Zillow cannot determine home value with just a computer algorithm. Home buyers determine the market value of your property by looking at the features and benefits of your home (how many bedrooms, bathrooms, square footage, etc.) and compare your property to other homes on the market. They look at recently sold properties similar to yours to see what your home is worth. What have similar homes in your area sold for? Real estate agents can help you figure out your current market value. Give us a call if you are interested in a free home pricing report or if you have any other questions. I would be happy to help you!

What are the benefits of using a home warranty to sell your home? Our company and team actually use another company called Home Security of America (HSA), and they provide warranties on the sale of existing or used homes. This coverage actually covers all the mechanical systems in a home, such as plumbing, electrical, heating, air conditioning, water heater, and even the appliances that are included in the sale of the home. It covers the buyer for up to one year after closing. On a single-family home, the cost of the coverage would be $564. If it was a condominium, the cost would be $535. The buyer is then able to extend that beyond a year after they buy it. “A home warranty makes a buyer feel more comfortable.” Many of our sellers are using this as a marketing tool to sell their home. If they do provide it up front, the seller actually gets free coverage on items while the home is listed for sale. For example, we just had a client who had a water heater replaced while the home was listed and got a brand new one for a nominal deductible of $100. There are two main benefits: First, it’s a great marketing tool. If your home has a warranty and another competing property doesn’t, that may make the buyer feel more comfortable in buying the one with a warranty. Plus, all new construction has a builder’s warranty for one year. Secondly, it adds peace of mind. This is especially true in cases where a seller may have older components in their property, such as an older furnace, air conditioning, plumbing, or electrical. All of that is covered for the buyer for up to one year after closing. They also don’t have to actually replace these components. If you have a 20-year-old furnace that still works, you can keep the furnace and offer a home warranty! If you have any questions about the home warranty or how the process works, please give us a call at the Roth Team and hopefully we can answer them. Thanks, and have a great day.

A lot of clients ask me about the upsides of owning a home. For one, monthly mortgage payments are often far cheaper than monthly rental payments. Plus, when you rent, you're really just throwing your money away every month. If you owned a home, those payments would be going towards paying back the home loan, which is a direct investment in your future. When you own a home you can also live as you see fit. You can decorate your home the way you want, have as many pets as you want, and paint the rooms like you want. You do have to accept the responsibility of maintaining a home, but that's just part of being a homeowner.Personally, I would always recommend buying over renting. This will depend on a few things, but buying a home is almost always the better option if you have the finances for it.If you have any further questions, please don't hesitate to contact me. I would love to hear from you!

Today we are going to talk about why you should consider hiring a professional agent in 2016 if you plan on selling your home. We’ve got 5 different reasons to share with you, and as you will see, hiring a professional for this task makes a huge difference. 1. Experience Experience counts and experience matters. Having experience helps you understand all the little things that may come up during a transaction. 2. Exposure Real estate agents have contacts through centers of influence, past clients, networks of relocation buyers, active marketing, and more to help us keep in contact with a large amount of buyers and sellers. We try to match up those buyers and sellers to get a great deal done. 3. Paperwork There is a lot of it, and we are a highly regulated industry. We will fill out all of the mountains of paperwork clearly and correctly. 4. Pricing There is a fine line between understanding how to get the best value out of your home and making sure it actually sells. We want to find that sweet spot. 5. Negotiations We can be a buffer in negotiations through the entire transaction, to make sure the deal actually happens. We can often negotiate better than you would be able to on your own.If you’re thinking about selling, or if you have any questions for us, don't hesitate to give us a call or send us an email. We can’t wait to hear from you!

In our current market, where prices are increasing a little bit each year, sellers want to get as much as they possibly can for their home. However, in order to get top dollar, you need to be strategic when putting a value on your property. Let’s take a look at the 6 dangers of putting too high a price on your home: 1. Fewer showings: Buyers look in price brackets - if you price your home well above what it’s worth, you are losing a lot of potential buyers who will simply pass it up.   2. Help out your competitors: When buyers pass up your home, they look at other homes on the market. If homes similar to yours are priced much lower, buyers will have no problem making an offer on your competitor’s home.  3. Generate most interest within first 30 days: Starting high and coming down later may sound like a foolproof plan, but you are losing out on a lot of buyers by waiting to price your home fairly. The first 30 days are crucial for generating interest in your home - you don’t want to miss that opportunity.  4. Attract the wrong buyers:Because buyers search for homes according to their price bracket, your home will be compared to homes with more features and benefits. The people that will appreciate your home won’t be looking at it.  5. Your home takes longer to sell:When your home sits on the market for a long time, buyers and agents alike start to wonder if there is something wrong with it.   6. Buyers negotiate a lower price: Since your home sat on the market for so long, buyers think they can submit a low offer and buy your home at a low price. Consider these 6 points when putting a price on your home. It’s a matter of balancing the desire to get a high price and the need to attract buyers to your home. If you have any questions about the pricing process, feel free to give us a call. We would be happy to assist you in any way possible! 

The real estate process can be confusing at times, so today I want to briefly discuss one aspect of it that often catches people off guard: counter offers. Often, people don’t know how quickly they need to respond to a counter offer. If you’re selling your property and you receive an offer that is unacceptable, you can always counter the offer in either price or terms before submitting it to the prospective buyer. The same works in reverse: if you’re a buyer who doesn’t like the seller’s offer, you can rework the offer to fit your needs and resubmit it to the seller. Counter offers are a nice tool to use when buying or selling real estate. When you’re selling, it’s a good way to avoid taking a deal that is unfavorable to you without turning the buyer down outright. Now that you know how a counter offer is used, you’re probably curious about how quickly you need to respond with one. When an offer is submitted, there is a Binding Acceptance, the date of which a counter offer pretty much makes irrelevant. In my experience, however, the quicker you respond to an offer or counter offer, the better the chance that you and the other party come to an agreement. If you have any questions about this topic, or if you need real estate assistance of any kind, please don’t hesitate to reach out to us. We would love to hear from you!

Today, I want to briefly discuss how to use a home warranty to help sell your home.  Here at Shorewest, we work with a company called Home Security of America, which provides warranties on the sale of used or existing homes. Many of our clients use these to help sell their home. They are attractive to buyers because they cover heating, air conditioning, plumbing, electrical, and appliances. Essentially, warranties cover the guts of your home, not the structural items like roofs, basements, and windows.  Home warranties cover the buyer for one year from the day of closing. Plus, the seller gets free coverage while they are listing. Homeowners use warranties as a selling feature. For instance, if you have a home warranty on your home, but the three other homes that buyers are looking at do not have a warranty, your home will be viewed in a much more favorable light. Warranties provide buyers and sellers with peace of mind. If something happens after closing, the buyer isn’t going going to call the person who sold them the home, they’re going to call the home warranty company, who will then come out and fix the problem. The basic single-family home warranty, which covers all the entities in your home, is about $564. Deductibles range from $75-$100, depending on the plan you go with. If you have any questions about home warranties, or if you need real estate assistance of any kind, don’t hesitate to reach out to us. We would love to hear from you!

I’ve been getting asked the same questions lately from prospective sellers who had previously listed their home, but failed to sell. One question is “Will relisting my home affect its overall value?” I don’t think it does, and here’s why. When we relist your home, the “days on market” that shows how long your home has been listed, is reset to 0. So if you had listed your home previously for 100 days and it didn’t sell, when we relist it’s going to show up like a new listing. Therefore, most buyers will have no idea that your home previously failed to sell.  Another question I’ve been getting a lot is, “Would my previous list price affect my home’s value today?” It depends. Many sellers improve the condition of their home and that could affect the value positively. The other thing that affects your value is marketing, and if your agent isn’t taking the right approach, you won’t get as many eyes on the property as you should. So just because you’ve listed your home before, it doesn’t mean you are doomed to suffer the consequences. Your value will not be affected by anything other than what homes are selling for in your area. If you have any questions for us, feel free to reach out to us via phone or email. We look forward to hearing from you!

Today, I cover what is considered a defect in a property home inspection. Home inspections often take buyers and sellers by surprise, so knowing this information will help you prepare for the process! According to the WB-11 Residential Offer to Purchase, a defect is a condition that would have a significant adverse effect on the value of the property; that would significantly impair the health, safety, or future occupants of the property; or that if not repaired, removed, or replaced, would significantly shorten or adversely affect the normal life of the premises. Here are some examples:Plumbing: This includes leaks and code violations.Electrical: If too much power is put to one circuit or if there is illegal wiring, etc.Furnace: If you have a crack in the heat exchanger.Basement: Cracks in walls or seepage would qualify as defects.Roof: Missing shingles is a common defect.What items are not considered defects? Here are a few examples:Cosmetic: Peeling paint, for instance.Old systems: Older furnaces, water heaters, and other appliances aren't defects if they're still functional.Old roof: The life expectancy of many roofs are 25-30 years, or more in some cases.Defects that show up on a property inspection need to be disclosed to any other purchaser who might be interested in your home. If you have any questions about the inspection process, or if you need real estate assistance of any kind, give me a call or shoot me an email. I would love to give you a hand!

Hey everyone, thanks for joining us once again. Today we want to discuss a question we get a lot from clients: Why should I sell my house now vs. waiting for the spring or summer to make a move?   There are a lot of reasons you should consider selling now instead of in a few months. Today we are going to give you our top 5, so you can make a decision before your grass gets green and the spring is in full swing.  1. The transfer market is extremely activeThis is the time of year that people who were offered jobs at the end of 2014 are looking for homes to move into, and they won’t want to wait until summer to buy your home. They are in the market for a home right now, and are desperate to get a good home.  2. You can change the closing dateWhen you sell your home in the early months of the year, you can delay your closing date until the summer. By the time your home goes through the entire closing process, it will be late spring or early summer, so you won’t be rushed to find a new home right away. 3. Homes are selling every dayIn the last 60 days alone, over 1,300 single-family homes have sold in the Metro Area. The Roth Team has sold over 55 of those homes by ourselves.  4. Buyers have fewer optionsInventory is very low right now, and buyers are gobbling up the best homes almost as soon as they come on the market. Right now, there is a 25% deficit in inventory from where we usually are at, and the demand has only increased so far.  5. Interest rates will rise soonRight now is the perfect time to take advantage of our low interest rates. Instead of waiting until later in the year and having to deal with 5-6% interest rates, you can secure an interest rate right now between 3% and 4%, saving you tens of thousands in interest over the life of your loan. If you are thinking about making a move and have any questions, we are always here to answer them. Give us a call or send us an email, and we will get back to you soon! We can’t wait to hear from you!