For Sellers: Finding the right agent with a positive attitude

I remember meeting a potential client some time ago, who wanted to sell his home. He knew his home was unique in a few different ways, and was concerned that the right buyer wasn't there for such a unique property, especially the way that the market was. He  really just wasn't sure how marketable his properrty was.  
What i can tell you is that  from my perspective, I walked into a beautiful and tastefully decorated home. It was obviously  architecturally designed, with every attention to even the most minor detail, and nothing was overlooked in the design, or the quality of construction. So why was the seller concerned about the prospect of selling his home? Besides the fact that there was a lot of love and time put into the house, I am sure it's full of memories as well. But that's not always all of it. This particular home had something very unique to offer, and its appeal would not be as broad as a home fitting the standard Fairfield County Connecticut mold- that is,  the expansive 4-5 bedroom, 3 bath colonial style home on a level lot.

  While some agents might consider a home that doesn't fit the mold as a "white elephant"-  no matter how beautiful and well done everything was, they couldn't or wouldn't be bothered with  selling it-  afraid to invest their own money on what they thought may not be a sure thing as far as a sale- and  I think that's a shame.

I, on the other hand, looked  at the house as a GREAT opportunity for someone who is looking for that particular uniqueness that this home had to offer. What another agent may consider as a white elephant, I consider as a BONUS. and, incidentally,  I really dislike the term, "white elephant" Just so you know, The seller was a highly intelligent, successful businessman, and was not a negative person by any stretch of the imagination- some people would even call him a realist.
Bottom line is what some people will find utterly amazing, others could care less about. That goes for EVERY home, regardless, by the way. Any good, experienced real estate agent will tell you that the trick to  finding the right buyer is marketing the property for what it is, not overdramatizing it, not underselling it, or forgetting or omitting details. Most of all, it's about  tailoring a marketing plan to find that particular buyer who would be most likely to buy your house.

If your agent isn't excited about marketing your home, he/she wont bring an excited buyer, and you won't get your home sold.
So if you meet an agent, who is not genuinely (AND I MEAN GENUINELY) interested  and excited about your home, DON'T WORK WITH THEM. It's as simple as that. No need to get discouraged, your buyer is out there, and the right agent can always find them.  And I just happen to know someone..... :)

You can just ask the seller that I spoke about earlier. Of course, I sold his house. He wrote a testimonial for me,  and you can read that, and a few others on my website by clicking here

FICO scores, your mortgage application and the bank!

 First of all, FICO stands for "Fair Isaac Company", which is the company that created and calculates a credit score.  There are other scoring systems, but FICO is the most widely used and trusted.

Your total FICO score consists of the sum of scores for different aspects of your credit history.
As I understand it, new credit accounts for 10% of your total score,  types of credit is 10%, payments
history accounts for about 35%, amount owed is about 30%, length of history is 15% 

There are variables to this, which depend on the amount owing on accounts, how long of a credit history that you have,  number accounts that are paid as agreed, how much credit is currently available to you, delinquent accounts- severity of those accounts, and the recency of good credit practice. 


A FICO score takes into consideration all of these categories of information, and the importance of any one depends  on the overall information in your credit report. Lenders will also look at income when determining whether or not they wil grant you a loan.  I see scores ranging anywhere from 500-825. You will usually need at least a 600 FICO score in order to obtain a loan, but there are companies that will work with you in the 500's.. Walk in the bank with an score of 800 or more, they'll probably beg you to work with them!

Now don't go out and get a credit report just to find out your FICO. Remember, every time you apply for credit, it becomes part of your overall scoring, and repeated attempts to obtain credit (even if you are a great candidate) will lower your FICO score. When you are ready to buy, we'll talk more!

Check out this very good resource




Multiple offers in a buyers market? OH, YES, it happens!

Most people think that if it's still a buyers market, then the possibility of  multiple offers doesn't exist. Just get that thought right out of your head right now! Multiple bids on a property happen in any type of market!

Just yesterday afternoon, I showed a client a home that had only been on the market a few hours.  It was a nice home, and she liked it  as soon as she walked in. I knew immediately that this home was priced very well, and I told her so. We made another appointment to go back  this morning, and came up with a few questions for me to ask the agent, who could then ask the owner, with pretty  much the intent of submitting an offer if all of those questions were answered to our satisfaction.

When I called the agent to find out the answers for what we needed to know, she told me there were already two offers on the property, and they are expecting one more tomorrow. So while the property is available today, it will be sold to someone tomorrow when the seller makes a decision.

I have to tell you, as for me- I hate telling a buyer client that they are in competition for a house that they love. And then there's that lingering doubt, is the agent telling ME the truth? Sometimes I think they are just trying to push a sale. A few questions to the agent after that conversation can usually tell me whether or not that's a truthful statement or ( a hopeful one) As for this house, I believe this agent was truthful with me. The property is priced VERY well.

So what  is some good advice that I could give you as a buyer, when you are in a multiple offer situation?

PUT your BEST foot forward! You are in competition with other buyers, and the sellers are  looking at the bottom lines of the offer. They won't have to negotiate with you. As a matter of fact, they can just accept one of the offers on the table, and not even bother to ask you for your highest and best bid.

When you hire me as your agent, I'll give you the best representation, and  I'll do my very best to get you the house of your dreams for the very best price.  You can bank on it.

Your real estate transaction in CT and... the bank appraisal

When a buyer applies for a mortgage, the lender requires a bank appraisal.  This is an independent third party licensed appraiser who values your home as a "disinterested party", so to speak. Really , what the bank is doing is protecting their own investment for when they grant   the loan.

The underwriters want to make sure they are giving a loan based upon current market value, and not lending too much money on a property that is not worth it.  The bank appraisal is ona standard form, costs anywhere from$300- $500 and  is paid for by the buyer,  for the benefit  of the bank to ensure that the  property value is in line with what the purchase price for the property and the loan to value ratio.
So  even if a buyer was going ready and willing to overpay for a property, and wanted to obtain a loan from the bank to do so, the appraisal and the loan to value ratio would be deciding  factors in whether the buyer would obtain the loan. So the appraisal is a good thing. It's an unbiased check and opinion of value.

TIP: Buyers, remember,you must ASK the bank for a copy of the appraisal that YOU paid for, or you will most likely never see it. Expect a nominal charge of $5 to $10 for your copy.

You just found out that the house you just bought has termites. DON'T PANIC!

You found the house of your dreams, you negotiated a great price, conducted a building inspection, and the building inspector says that the house has termites.

Don't panic just yet. You really need more information before you make any decisions on what to do.

A building inspector once told me that roughly 65% of the houses that he had inspected over the years have had  some sort of infestation, so it's really not uncommon in our area of Connecticut. New homes can have termite issues, and older homes can have termite issues, too - so infestation is not having to do with age, necessarily.  I remember one newer home that I had listed where the homeowner was very concerned about ever getting termites, so she put a pebble garden around the perimeter of her house, and it looked beautiful. She had a part of a split rail fence adorning her front yard, and it was about 5' away from the home itself, and guess what? The house didn't have termites, but the split rail fence did, and she had to treat her whole house anyway.  There's at least one good reason to keep wood away from the house. So remember, keep that firewood away from the house, too- so you don't run into unnecessary problems (and expenses).

When active termites have been found, or evidence of termites have been found in a home, it needs to be treated.  It does not necessarily mean there has been structural damage to the home- your inspector will be able to ascertain whether the home needs repair, just a treatment, or both. Almost always, the seller of the property treats for termites if they are found, and if there are repairs that need to be done as per the inspection, you can do one of a few things- ask the seller to repair the damage, ask the seller for a credit so you can repair the damage, or walk away if it seems like too much. Some banks insist on a Wood Destroying Insect report as part of the paperwork needed to complete the mortgage process,
and will  insist on treatment to  the property in order to grant a loan.  It's your decision.  And remember, always speak with your attorney for legal advice.

 It's always best to speak with a licensed inspector to get as much information as you can, if this is something of concern to you. No realtor knows what a licensed inspector does. When it comes time to hire an inspector, make sureyour professional is a member of ASHI. (The American Society of Home Inspectors) . Members of ASHI subscribe to a strict code of ethics.  You deserve  the best.