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.

Real Estate and Psychological Impact

Real estate can be a funny animal sometimes. Take for instance, the subject of Psychological Impact. That  is considered a non-material fact as it relates to  real estate transactions. A few examples of a psychologically impacted home  could be a home which is the site of a homicide or a suicide, or some type of felony took place there, and it could also mean that  the owner or occupant suffered from an infectious disease. Supernatural occurrences also fit into this category.

There is a  Psychological Impact Law in Connecticut that has been in place since 1990, and in laymans terms,  it pretty much states that if a buyer or lessor has a concern over a property's psychological impact, he must submit a request a writing to the seller, and the seller must return that answer in writing.

It is NOT a seller's duty, nor an agent's duty to disclose  any psychological impacts unless the request is made in writing, so if any of these instances trouble you, seek legal advice from your attorney, and discuss your concerns with your agent.

HomeSeller Tip #1: Pricing your Home for Sale in CT

First and foremost. I cannot stress how important it is to price your home correctly. Do you remember when you went out looking for  homes and your agent showed you homes that were obviously overpriced?  You felt that the seller wasted your time. And you probably weren't that happy about it either.  It's one thing to not care for a home that's not your style, or just doesn't have what you need, but you don't want your home to be labeled as overpriced. Oh, and BTW,
it's not your fault. Don't EVER blame an overpriced listing on a seller. It's NOT THEIR FAULT.

5 REASONS for an overpriced listing

1. The agent representing that seller didn't conduct a thorough enough market analysis and advised his/her client incorrectly.

2. The agent representing the seller did not have the courage to tell the seller that his price was too high.

3. The agent representing the seller overestimated the price to ensure that he/she got the listing,  and  figured that once he/she procured the listing, the seller would reduce the price.

4. The agent representing the seller  never advised him/her how detrimental it is to  a home sale to put excess negotiating room in the price.

5. The agent representing the seller used the "PFA" Pricing method and prayed for the 3P's.  Never heard of the PFA Pricing method?  It stands for "Pluck From Air", and the three P's? That's Put the listing on the MLS- Put a sign in the front yard, and Pray for a buyer.

That last one may have sounded a bit silly, but I am sure that you have encountered one of those type of listings in your home search if you think about it. If you want to price your home correctly, call me. I'll give you a FREE Comparable Market Analysis,  with no obligation.  And yes, you can rely on my price, and rest assured it your home won't ever be labeled as overpriced.






The best way to find a real estate listing site that is current. HINT: (it's not Realtor.com)

In the last week, three different people have contacted me to  see a particular property that they found online, and in each instance, I've had to tell them that the property was under deposit, and no longer available. It just doesn't sound right, does it?

Yes, the market is coming back,  but to get three calls in one week on listings that are unavailable is just awful. It's awful for  the people who think they are looking at a current real listing site- and trust me, its no fun to tell a potential client that the house that they want to see is under deposit.

And the biggest offender? Realtor.com.. Really!  This site can be up to 30 days out of date. YES, that's right. At least in Fairfield County, that's right. Realtor.com does not recognize one of the deposit statuses in our area. That's unfortunate. Homes.com does not have all of the listings, and then some of them are OLD OLD OLD. Trulia and  Zillow are incomplete AND out of date.

So what do you do?  Work with ONE agent, who will allow you access to the MLS. I offer both MLSPulse and Listingbook to my clients or potential clients FREE of charge, and FREE of spam.  If you care to sign up for either one, it's free and easy, just click on the respective links below

Listingbook at www.BestAgentinCT.com   and MLSPulse at www.searchMLSdatabase.com

What's the best way to negotiate the purchase price of a home?

Negotiating is a fine art, and you have to consider the personalities involved besides the property. Some people want to negotiate as quickly as possible, and others have to mull things over before they give an answer. Know which type of personality you are dealing with.

One wrong move in negotiations can lose the deal, so be very careful. Emotions run high, and tempers can flare over otherwise minor things. That's why it's always best to work with an agent (LIKE ME!)  and not go it alone.  I devoted an entire chapter of my book,  "The Art of Buying or Selling a Home"  to negotiating. And yes, this book is available at Amazon, Barnes and Noble and all major book retailers, but you can also purchase it through my site, (I know, shameless plug) . The single best piece of advice I could give you is to do your best to put yourself in the other person shoes when you are negotiating