Sunrise Homes & Renovations, Inc.

Video: What Is A Counter-Offer?

by

What Is A Counter-Offer?

The video puts this in more visual terms, but basically, a seller can respond to a buyer’s offer with changes – a “counter” – that improves the terms.

You need to put yourself in their shoes and construct a modified offer that you think they might take that meets more of your needs. Then it’s their turn – accept, reject, or construct yet another counter.

It’s an efficient market process, but beware: clauses and costs matter. Your broker should be closely involved in constructing a counter. Successful bargaining is best done with a win/win approach where each side is meeting their biggest needs and compromising others to reach an agreement.

Remember that outside conditions like interest rates, and supply and demand, will keep evolving so you’ll need to be patient but decisive to craft an counter-offer that works for both sides.

What Is A Counter-Offer?

Mythbusting: is Winter a Bad Time to Buy a Home? No – and Here’s Why

by

Mythbusting: is Winter a Bad Time to Buy a Home? No - and Here's WhyThe cooler months of winter often seem like the best time to hibernate into your house and wait for spring to appear, but it can actually be a prime opportunity to start looking for a new home. If you’re not interested in waiting until next season, here are a few reasons you may want to get started on your home search a little earlier than expected.

Opportunity For A Lower Price

With prime moving time occurring during the months of fall and spring, there’s a good chance that a home purchase will end up costing you less in winter than it will during other times of the year. Most home sellers are not going to want to keep their house on the market for an extended period of time, so if it happens that their house is still for sale when the winter comes, they’ll likely be willing to consider a lower offer.

More Attention From Your Agent

Since fewer people will be selling and buying in the winter months, it’s quite likely that your real estate agent will have a lot more free time on their hands and will be able to give you more of their attention. Instead of sitting back and waiting for the New Year to arrive, take the opportunity to redefine your needs to your agent so – no matter the season – you’ll have someone who’s truly prepared to tackle the market for you.

The Added Perks Of A Slower Season

Most home sellers will have been advised by their real estate agent that the winter market is a lot slower, so you may be able to get some added benefits along with your purchase that make for a better deal. Whether you can garner a better negotiation, a quicker closing date or provide an offer that includes updated home appliances, there will probably be a few opportunities which will make the cooler winter search worth the effort.

The winter months can be a great time to hibernate, but they can also be ideal for searching for a home if you’re in the market. With the slow selling season, you may be able to take advantage of lower prices and more perks along with your purchase.

If you’re planning on moving a little bit sooner than expected, you may want to contact one of our local real estate professionals to see what opportunities are on the market.

How Do I Determine The Initial Offer?

by

As you’ll see in this video, unless you have a buyer’s agent remember that the agent works for the seller. Make a point of asking him or her to keep your discussions and information confidential.

Listen to your real estate agent’s advice but follow your own reason on deciding a fair price.

Calculating your offer should involve several factors: what homes sell for in the area, the home’s condition, how long it’s been on the market, financing terms and the seller’s situation.

By the time you’re ready to make an offer you should have a good idea of what the home is worth and what you can afford.

Be prepared for give-and-take negotiation which is very common when buying a home. The buyer and seller may often go back and forth until they can agree on a final price.

How Do I Determine The Initial Offer

Real Estate Terminology 101: What Exactly Is A “Buyer’s Market”?

by

Real Estate Terminology 101: What Exactly Is A If you’ve been following the real estate industry for any length of time, you’ve probably heard the phrase “buyer’s market” at some point. And although the meaning may seem apparent, it takes some study to understand what actually constitutes a buyer’s market.

Who decides whether it’s a buyer’s or seller’s market? What’s the threshold for deciding between the two? Here’s what you need to know.

Supply And Demand: Economic Factors That Govern…Everything

If you studied economics in school, you’ll probably remember an early lesson on supply and demand. Essentially, supply and demand are the two factors that influence what a commodity is objectively “worth” in a free market. They’re also a great way of characterizing whether a market is hot or cold, and whether or not it’s a good idea to invest at any particular moment in time.

In a nutshell, supply is the amount of something that is available for purchase, while demand is the amount of that same thing that people want to buy. When supply goes up while demand stays the same, buyers have more choice with respect to whom they want to buy from – and that means the price goes down because the commodity is freely available. When demand increases while supply stays the same, we see the opposite effect – the value (and price) increases because there’s not enough of the supply to go around.

The Buyer’s Market: What You Need To Know

A buyer’s market is a real estate market where the supply of homes available is greater than the demand for housing – it’s a market where there are more homes for sale than there are people willing to buy. This is a great situation for buyers, because their freedom of choice gives them a significant amount of power when negotiating prices. In a buyer’s market, sellers may have to accept a lower price in order to make the sale.

How To Navigate The Buyer’s Market

For buyers, the buyer’s market means lower prices and fewer bidding wars. But there are still some basic principles that savvy buyers ought to follow. Don’t lowball too far below the asking price, even if it is a buyer’s market – if homes in an area have recently been selling for $400,000 and the asking price is $450,000, offering $350,000 will only insult the buyers.

A buyer’s market means you can find your dream home at an affordable price, but there are certain nuances you’ll want to pay attention to. A professional real estate agent can help you to read and navigate the market, which means you’ll have an easier time finding your ideal home. Contact your local real estate professional to learn more.

Tiny, but Cozy: 3 Ways to Furnish Small Spaces to Make Them Feel Much Larger

by

Tiny, but Cozy: 3 Ways to Furnish Small Spaces to Make Them Feel Much LargerWhen decorating a small space, there is a general desire to make the space look and feel larger than it is while also meeting basic functional needs in the room. For example, there may be a need to accommodate seating for a group of people in a living room, but there also may be a desire to provide ample space for foot traffic so the area does not feel cramped. By following a few important tips, it is possible to furnish smaller spaces so that they are functional and do not feel cramped.

Think About Decorative Storage Solutions

One of the most common factors that will make a small space seem cramped and uncomfortable relates to clutter, and because of this, focusing on storage solutions can go a long way toward making the space feel larger than it is. Storage solutions can be decorative, and they can be a true benefit to the décor in the room. Think about functional storage features like an ottoman with hidden storage features, an entertainment center with cabinets and shelves or a tall bookshelf that can hold many of the items that are needed in the room.

Decorate The Space Vertically

For most people, there is a general inclination to decorate a room horizontally and to fill the floor space with furnishings, but this can be detrimental when decorating a smaller room. In a smaller space, decorating the space vertically by using bookshelves, storage cabinets and other features that rise above the ground rather than that sprawl across the ground can be beneficial. The goal should be to decorate the room fully while leaving ample space for foot traffic to maneuver through the room comfortably.

Use Lighter Colors

Darker colors used in a smaller room can make the space feel closed off and cramped. Using lighter colors can brighten the space and make it seem more airy. While using shades of white and beige throughout a space may not be ideal in all rooms, these can be incorporated into various aspects of the décor to improve the spacious feel of the room.

Smaller spaces can be challenging to decorate, but there are different tips and tricks that can be used to make the space look and feel larger than it is. Some tips help improve the functional use of the space, while others simply play tricks and create the illusion of space. All can be used together to create the feeling of a larger, more inviting room.

Dealing with the Summer Heat? How to Keep Your Home Cool Without Using a Ton of Energy

by

Dealing with the Summer Heat? How to Keep Your Home Cool Without Using a Ton of EnergyMany people look forward to the long, relaxed, sunny days of summer, but they also dread opening up their energy bills throughout the summer months. Cooling a home can be costly, and many are searching for convenient ways to lower cooling costs without sacrificing on comfort inside the home on the warmest days of the year. These are just a few of the cost-effective and convenient options that can help homeowners to reduce cooling costs throughout the summer.

Keep The Blinds Closed

A significant amount of heat can enter a home through the windows, and blinds and curtains provide an extra layer of insulation between the window glass and the interior of the home. Some types of blinds and curtains are more effective at blocking heat than others, and homeowners may consider making an upgrade for the best results. For example, wood blinds can block significantly more heat than thin, almost translucent sheers.

Run The Ceiling Fans

Another way to keep cooling costs lower throughout the summer months is to run ceiling fans regularly. Ceiling fans help to circulate the air, and this helps the central cooling system function more efficiently. In addition, ceiling fans also can make those who are in the room feel cooler, and this may mean that homeowners can keep the home’s thermostat set at a slightly higher level than it otherwise would need to be set at for comfort indoors.

Use Heat-Generating Features At Night

There are numerous appliances and types of equipment that may be used indoors throughout the summer that can generate a considerable amount of heat, and running these at night can reduce the need to run the central cooling system as much during warm days. Consider that everything from running the washing machine and dryer to using the dishwasher and oven or range can emit heat in the home, and these serve to counteract the work that the cooling system is doing. When possible, limit the use of these features to cooler nighttime hours.

Keeping the home cool throughout the summer is a top priority for most, and the good news is that there are easy ways to reduce the cost associated with keeping a home cool. These ideas all can be beneficial in a homeowner’s quest to reduce energy costs during the summer.

If your current home is a real energy hog and you are ready to move into a more energy efficant option, make sure to speak with your trusted real estate professional for a look at newer energy efficant homes in your area.