Judith Sutton ABR CRS IDS PMN ASP IAHSP SRES GREEN
Judy@JudithSutton.com 908 803-0472
EXPECT MORE
When is the best time to buy/sell a house?
Whether you are on the buying or selling side, trying to “time the market” to make or save as much money as possible is a common question.
The best answer for everybody is, “The best time to buy or sell is always when you are ready.”
As a real estate agent, I can provide expert insights into the ebb and flow of the market, but giving a concrete answer isn’t possible. It would be equivalent to telling a stock investor that “x” stock will rise and “z” stock will fall at a specific time.
I reassure my clients that, historically and currently, real estate remains a very sound investment. There are also tools you can use to make payments lower and capitalize on future lower interest rates should they come up. “Clients seldom, if ever, regret buying a house, but they always regret not buying a house when they should have.” Note: (Please just ask me what mortgage “tools” are available to you).
What is my house worth?
Whether a seller is looking to sell soon or is just gauging the market’s temperature and their potential return on investment, at some point, they’re feeling curious about their home value.
“I like to take this opportunity to show my prospective client the tools I have at my disposal to calculate a strategic sale price and to demonstrate a thorough understanding of the local market.
In other words, I will take the time and use the tools at my disposal to provide my clients with a high-quality, researched answer. I will get specific and offer my insider insights, and explain the process to get to your figure. This ensures my client that I’ve got my finger on the market pulse. Home valuations are also a great way to keep in touch. Building trust and confidence is may goal.
Is a 20% down payment necessary?
This is a common question from young and first-time buyers who don’t have the equity or substantial cash available to put 20% down on a home. While I’m not a financial advisor, I will provide you with insights, options and real-life context.
As a real estate agent when working with millennial and Gen-Z buyers, I want them to know that the majority—about 50%—of my clients are taking advantage of low, down-payment programs unless they’re getting financial assistance from a parent or grandparent.
I will also suggest discussing the pros and cons of utilizing a lower down payment and the overall picture of their financial standing and goals.
It’s important to advise clients to think about their homeownership goals in alignment with any of the other big initiatives they have going on in their lives, whether that’s planning a big wedding or paying off student loan debt. This can help them determine how and when to purchase a home.
You may also want to know what programs offer a lower down payment option, like FHA loans, VA loans, and USA loans. Having a working knowledge of the various down payment assistance programs available is also a valuable tool I offer my clients.
How long will it take to sell my home?
Most sellers want their homes to sell in a timely fashion. The sooner they sell, the quicker they can collect their equity and move on to the next chapter of their life.
Though I don’t have a crystal ball and can’t predict an exact timeframe, I can give you an informed estimate. I look at comps in the surrounding area, consider the local market and sometimes consider any national factors that might affect a sale timeline. I will reassure my client that I will make it my priority to position the home in the best light to attract buyers. There are tried and true components to helping a home sell quickly: great online marketing, proper staging, stellar photos, informed showings, etc.
“In a hot real estate market with high demand and low inventory, a well-priced home in good condition can sell within a matter of days and usually does. “However, this can vary widely based on the market, location, and the house itself.”
I like to prepare my client by giving them a rundown of the current market in their area, helping them to properly price their home based on the information and facts I have gathered.
Can I negotiate a better deal on this home?
Naturally, every buyer wants to make a sound purchase. This question can provide an opportunity to really stand out as a trusted agent acting on behalf of you. I remind my clients that as part of my services, I will do everything in my power to negotiate the best purchase price. I am not just here to help you find the right property but to help you make it yours, with the best terms possible.
To further drive trust, I will outline prior work experience and skills that are relevant to negotiation, and ensure that you will be leveraging that experience to help you meet your goals. (I have been in the business since 1983, received many designations towards further education, practiced my skills in many different markets, and received many awards).
Do I really need to pay for a home inspection?
Buying a home is a nerve-racking and expensive process that can have buyers wondering where to cut costs. Sometimes, the buyer asks whether a home inspection is really necessary or not, especially if the home looks good and has decent updates.
First and foremost, as your client’s fiduciary, the first true and essential response is always one of caution. “Yes, home inspections can offer peace of mind, and yes, they are a good idea in theory. I will never ever pressure a buyer to waive a home inspection or otherwise put themselves in jeopardy unnecessarily.
That said, it’s important to understand your current market’s climate and approach this question with nuance and care versus rigidity. For example, it’s currently a seller’s market, and clients eager to create competitive offers may forgo the inspection. I will make sure you have all the information you need to weigh the risks and benefits. Ultimately, every situation is different, and it depends on your priorities, goals, and desired peace of mind.
So, How’s the Market doing?
A market is an ever-changing concept, and no matter how well you keep up with statistics in a particular area, it can still be a tricky question to answer.
Of course, a lot depends on who is asking– a buyer, seller, investor, landlord, or tenant.
It also depends on the location, price range, and type of residence you are talking about.
So, the perfect answer may be a non-answer.
“It depends…”
Sound like a cop-out? Or a stalling technique?
Not really. What I am doing is changing a question into an opportunity for an ongoing conversation and understanding. Instead of feeling against the wall to offer a litany of sales figures and market projections, (that are forever changing). I like to find out from the client what they are seeking…
Why are they asking the question? Whatever the answer, to find out their motivation: (It may not be a good time for them to sell their home, but maybe it’s a good time for them to consider buying an investment property; a retirement property, or a vacation home).
By building relationships and keeping the conversation going, I am building confidence for future involvement and advice- by being a TRUSTED ADVISOR rather than just a sales representative. Trust is an important component of any good relationship. Please call and ask me. I care about my clients.
Adding value for my clients and loving where we live!
COLDWELL BANKER...GUIDING PEOPLE HOME SINCE 1906
908 803-0472
"...the right relationship means everything..."
SERVING THE SOMERSET HILLS AREA ONE CLIENT AT A TIME
Service & Experience
since 1983