Ask Dave

Here are questions and answers we receive from our clients that we publish in our quarterly newsletter. You can review these or contact us to ask your own:  401-885-7900 or info@SplaineTeam.com.

Q:  Can I count on using the findings from my inspection to further negotiate the price of the home I am buying?

A: While the inspection is a negotiation, never assume that you will negotiate the price of the home down more after the inspection. If the property inspection comes back flawless, there will be nothing to negotiate.

The goal of an inspection is to ensure that the seller is delivering the property in the condition both sides expected while negotiating the sale price. Generally, you can divide findings into big-ticket items that impact the value of the home and must be addressed, and smaller items that shouldn’t cause much friction.

Sellers should address big-ticket items and smaller items that are not considered home improvement or updates. You will then decide between asking the seller to fix or replace something or asking them to provide a credit at closing.

If you have a question about your home inspection, contact us directly at 401-885-7900 or info@SplaineTeam.com. If you would like a question answered in our ‘Ask Dave’ column, please send an email to Dave@SplaineTeam.com.


Q:  The housing market is HOT; how high can I price my house to sell?

A: Yes, after halfway through 2017, the housing market is on pace for another record year as four of the last six months have topped same month sales from 2016.

Sellers continue to benefit from limited inventory, getting top-dollar for their homes. Three things will ensure you get the highest sale price for your home:
·       Comparative Market Analysis (CMA)
·       Proper Staging
·       Minimizing Inspection Issues

Your CMA is an in-depth analysis – based on current market factors in your neighborhood – that will give you a good idea of what your home is worth. It would be our pleasure to provide you with a CMA.

Most realtors believe that proper staging can not only increase the value of your home; but, most importantly, entice prospective buyers to walk through your home after they have seen it online.

Knowing you want to sell your home ahead of time and fixing anything you may have to put on a disclosure minimizes any negotiations after the inspection.

We would be happy to provide you with a ‘Punch List’ of items to get top dollar for your home: Please contact us directly at 885-7900 or info@SplaineTeam.com.


Q:  What can we expect in the housing market in 2017?

A: Following a robust 2016 housing market, the 2017 RE/MAX Market Outlook Report predicts that much of New England will remain a seller’s market with low inventory in the start of 2017. 

Increased activity throughout the last quarter of 2016 remained strongest among first-time, millennial buyers. For them, affordability is key and demand will remain greatest in price points below $300K.

Low interest rates have driven the housing market and will continue to do so in the coming year. The Fed’s decision to not raise interest rates significantly has led to low inventory and thriving seller’s markets. This, coupled with first-time, millennial demand is expected to drive the market in 2017.

What does this mean to you? It is extremely helpful to know the data to see if the timing is right to buy or sell your home. Contact us for specific market data on your home or in the neighborhood where you would like to live at 401-885-7900 or info@SplaineTeam.com.

 
Q:  Is Spring the best time to list my house?

A:  People buy homes year-round due to new jobs, retirement and lifestyle changes. While Spring marks the start of the busiest season – there are advantages and disadvantages when you are selling.

Properties shine in the Spring when flowers are in bloom and the days are longer giving buyers more time to see your home. Also, families start looking so they can move before the beginning of the school year.

However, more inventory means more competition for your home. Buyers can be much pickier with their wish lists when there are more homes to choose from in your neighborhood.

Make your decision based on when want to move. We will give you data on the median time on market for homes in your neighborhood. Additionally, you can get a comprehensive evaluation of what your home is worth – now or if you wait:  401-885-7900 or info@SplaineTeam.com.



Q:  Should I upgrade my 1960s kitchen before I put my house on the market?

A:  Your decision will depend on a couple of factors:

How does your kitchen compare to the rest of the house - have there been other upgrades to the house that really date your kitchen?

How much time do you have before you want to sell your house and do you have the budget?

If you are remodeling the kitchen for the sole purpose of selling, the most important consideration is whether or not you will get your investment back.

A coat of paint on the walls and new countertops can update a kitchen. You can also buy new doors for most cabinets to upgrade their appearance.

Before you get started, contact us for a comprehensive evaluation of what your home is worth - now or with a new kitchen.