As a real estate professional in the Toledo area, I have sold many homes in this tough market. Often, sellers get distressed over the amount of time it takes to sell their home. The important thing is not to get upset or distressed over your home not selling, but to try to understand why it is not selling. There are many reasons for a home not selling right away. Here are some common reasons:
1. The right price. This is probably the most important reason why a home won’t sell. Many buyers who go out to see homes have an idea in their mind of how much money they want to spend and how much/ what kind of house they expect to get with that money. If a house is overpriced, a buyer will often see that right away and immediately dismiss the home. It is important to consider the houses in the same price range as your house because they may or not be in a better condition than your house.
2. Curb appeal is very important. Most of the time, the picture on the MLS is the front photo of a house. Buyers choosing houses to see from the MLS will sometimes immediately dismiss houses with poor curb appeal. It is important to have a good front photo taken that displays your home’s charm and appeal accurately.
3. Market demand. An over abundance of homes for sale in your price range means it is a “Buyer’s market.” This means the buyer has many choices to choose from; therefore the chances of your home selling are less. This is completely beyond your control, yet it is still an important reason for a home not selling.
4. Economic reasons. Fluctuating interest rates can affect how long it takes your home to sell. Also local company layoffs can affect the market because there would be less people looking for houses. A poor economy can often affect whether or not a home will sell.
Monday, August 25, 2008
Wednesday, August 20, 2008
4 Things You Should Know About Electrical Systems
Hello everyone! I found this great article in Realtor magazine online about Electrical Systems. I just wanted to share it with you. It was written by Leslie Banker in August 2008.
Home Electrical Systems: 4 Questions You Should be Able to Answer
Practically all of your listings will have an electrical system. Whether working with buyers or sellers, it pays to understanding the basics.
By Leslie Banker
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August 2008
These days, every house or apartment is going to have an electrical system of one sort or another. Understanding the basics of these systems will help you evaluate homes and knowledgeably answer questions from prospective buyers.
Electricity typically is generated at a power plant and travels to transformers, which lower the voltage to a level that local distribution systems can handle. From there, electricity travels over local distribution systems to individual homes.
One problem in this method of delivery is that quite a bit of electricity is lost in the process of traveling from the plant to its final destination. An alternative is generating electricity on site by solar electrical systems, wind turbines, or generators.
So what else do you need to know about electric systems? While it’s best to leave the big questions to electricians, these are some basics that you should know.
1. Does the home have 220 volt service?
If the home was recently built, the answer is almost always yes. Most houses today have two 110 volt wires and one neutral wire running into the house from the local distribution system. These wires can run underground or above ground. If there are two 110 volt wires running to the house, then the house has 220 volt service and appliances, such as dryers and air conditioners.
Older houses were usually built with 110 volt service; if the electrical system hasn’t been upgraded, it won’t be possible to use some models of appliances (though alternatives can be found).
It’s possible to upgrade a house from 110- to 220-volt service. How much it costs to upgrade will depend on the particular house and the location. If a buyer is interested in upgrading, an electrician can give an estimate for what the work will entail.
2. What’s the difference between a fuse and a circuit breaker?
Fuses and circuit breakers are both found in the electrical panel (or sub-panel) of a house. They both serve the purpose of cutting the flow of electricity when a circuit gets overloaded—a potentially dangerous situation. Circuit breakers will be found in most houses built after the 1960s or in older buildings that have had their electrical systems upgraded.
Fuses have a thin strip of metal that literally blows when there’s too much electricity flowing through it. When this happens, the fuse needs to be taken out and replaced.
Since the 1960s circuit breakers have been used instead of fuses. They are more convenient, as they just need to be flipped back on if they are tripped. Unlike a fuse, they don’t need to be replaced.
Both circuit breakers and fuses are rated according to how much electricity can flow through them before they trip and shut down the circuit. A 15- or 20-amp fuse is typical for regular light fixtures and such. If the right fuse or circuit breaker isn’t used, it can cause a dangerous situation. Clearly, if a fuse or circuit breaker becomes problematic, an electrician should be called in to look at it.
3. Where’s the “main panel?”
This is where all the circuits in the house originate from and it’s usually near where the electric power enters the building. It will be filled with circuit breakers (or fuses in an older building). The main panel has a rating that determines the total amount of current that can flow out to the circuits at one time before the main circuit breaker shuts the entire system down.
Most moderately sized older houses have 100 amp service, though a smaller house might only have 60 amp service. Larger new houses are often built with 200 amp service to accommodate all the electronics used these days. If a buyer is thinking of adding on to a house or just modernizing an older house, one consideration will be if the electrical system is big enough to handle the additional electrical requirements. It’s possible to upgrade the main panel to handle more amps. Again, an electrician can give a buyer an idea of how much work this will be in a particular house.
4. Are the outlets grounded?
These days most electrical outlets that you see accept three prong plugs. This means, almost always, that the outlet is grounded. A grounding wire, which connects to the round third hole, protects against electric current escaping from the circuit and causing shocks.
Older houses might only have two prong outlets, meaning there’s no grounding protection in the circuits. Upgrading an electrical system to include grounding wires involves opening the walls and can be a significant amount of work. How much work it is depends on the size, construction and layout of the house.
GFI outlets (GFI stands for “ground fault interrupter”) are typically required by building codes when installing an outlet near a water source or a damp location. These are the three prong outlets that have two buttons on them reading “test” and “reset.” Since water and metal handles and spouts conduct electricity, it makes a ground fault particularly dangerous in wet locations such as a bathroom. A ground fault is where the electricity goes astray despite the grounding wire. If this happens the GFI quickly cuts the power. GFI outlets are also called GFCI, or ground fault circuit interrupter.
Knowing how to talk the talk about a listing’s electrical system will help to put a little spark in your sales pitch. The important thing to remember is that for a price, electrical systems can be upgraded and expanded to meet the needs of the buyer as well as building code requirements.
Home Electrical Systems: 4 Questions You Should be Able to Answer
Practically all of your listings will have an electrical system. Whether working with buyers or sellers, it pays to understanding the basics.
By Leslie Banker
var author="Leslie Banker";
var date='Aug 1, 2008';
if (author!="" && date!='')
document.write(' ');
August 2008
These days, every house or apartment is going to have an electrical system of one sort or another. Understanding the basics of these systems will help you evaluate homes and knowledgeably answer questions from prospective buyers.
Electricity typically is generated at a power plant and travels to transformers, which lower the voltage to a level that local distribution systems can handle. From there, electricity travels over local distribution systems to individual homes.
One problem in this method of delivery is that quite a bit of electricity is lost in the process of traveling from the plant to its final destination. An alternative is generating electricity on site by solar electrical systems, wind turbines, or generators.
So what else do you need to know about electric systems? While it’s best to leave the big questions to electricians, these are some basics that you should know.
1. Does the home have 220 volt service?
If the home was recently built, the answer is almost always yes. Most houses today have two 110 volt wires and one neutral wire running into the house from the local distribution system. These wires can run underground or above ground. If there are two 110 volt wires running to the house, then the house has 220 volt service and appliances, such as dryers and air conditioners.
Older houses were usually built with 110 volt service; if the electrical system hasn’t been upgraded, it won’t be possible to use some models of appliances (though alternatives can be found).
It’s possible to upgrade a house from 110- to 220-volt service. How much it costs to upgrade will depend on the particular house and the location. If a buyer is interested in upgrading, an electrician can give an estimate for what the work will entail.
2. What’s the difference between a fuse and a circuit breaker?
Fuses and circuit breakers are both found in the electrical panel (or sub-panel) of a house. They both serve the purpose of cutting the flow of electricity when a circuit gets overloaded—a potentially dangerous situation. Circuit breakers will be found in most houses built after the 1960s or in older buildings that have had their electrical systems upgraded.
Fuses have a thin strip of metal that literally blows when there’s too much electricity flowing through it. When this happens, the fuse needs to be taken out and replaced.
Since the 1960s circuit breakers have been used instead of fuses. They are more convenient, as they just need to be flipped back on if they are tripped. Unlike a fuse, they don’t need to be replaced.
Both circuit breakers and fuses are rated according to how much electricity can flow through them before they trip and shut down the circuit. A 15- or 20-amp fuse is typical for regular light fixtures and such. If the right fuse or circuit breaker isn’t used, it can cause a dangerous situation. Clearly, if a fuse or circuit breaker becomes problematic, an electrician should be called in to look at it.
3. Where’s the “main panel?”
This is where all the circuits in the house originate from and it’s usually near where the electric power enters the building. It will be filled with circuit breakers (or fuses in an older building). The main panel has a rating that determines the total amount of current that can flow out to the circuits at one time before the main circuit breaker shuts the entire system down.
Most moderately sized older houses have 100 amp service, though a smaller house might only have 60 amp service. Larger new houses are often built with 200 amp service to accommodate all the electronics used these days. If a buyer is thinking of adding on to a house or just modernizing an older house, one consideration will be if the electrical system is big enough to handle the additional electrical requirements. It’s possible to upgrade the main panel to handle more amps. Again, an electrician can give a buyer an idea of how much work this will be in a particular house.
4. Are the outlets grounded?
These days most electrical outlets that you see accept three prong plugs. This means, almost always, that the outlet is grounded. A grounding wire, which connects to the round third hole, protects against electric current escaping from the circuit and causing shocks.
Older houses might only have two prong outlets, meaning there’s no grounding protection in the circuits. Upgrading an electrical system to include grounding wires involves opening the walls and can be a significant amount of work. How much work it is depends on the size, construction and layout of the house.
GFI outlets (GFI stands for “ground fault interrupter”) are typically required by building codes when installing an outlet near a water source or a damp location. These are the three prong outlets that have two buttons on them reading “test” and “reset.” Since water and metal handles and spouts conduct electricity, it makes a ground fault particularly dangerous in wet locations such as a bathroom. A ground fault is where the electricity goes astray despite the grounding wire. If this happens the GFI quickly cuts the power. GFI outlets are also called GFCI, or ground fault circuit interrupter.
Knowing how to talk the talk about a listing’s electrical system will help to put a little spark in your sales pitch. The important thing to remember is that for a price, electrical systems can be upgraded and expanded to meet the needs of the buyer as well as building code requirements.
Wednesday, August 6, 2008
How to Repair Your Credit
Here are some steps for repairing your credit and buying the home of your dreams.
1. Make a budget. Calculate your income and your expenses make a budget for your household.
2. Look at your credit report and be aware of your score.
3. Talk to your creditors. Do this as soon as you realize you are getting behind in your payments. 4. You can work with them to reduce your payments before you get too far behind.
5. Always get any agreement in writing. Make sure you get a letter when you negotiate lower interest rates and payments.
6. Stop using credit cards. Only buy what you know you have money in the bank for.
7. Gradually cut off credit accounts. All of a sudden cutting off all credit accounts makes others think you are financially unstable.
8. Try a secured credit card. This means you supply money up front as collateral. For instance, if you deposit $400 in the bank, you will have a $400 limit on your secured credit card. This is a safe way to build your credit.
9. Join a credit union rather than a bank. They are more likely to give you a loan than a bank is.
10. Always make payments on time. Payment history is the number one thing that determines your credit score.
If at all possible, always avoid bankruptcy. Bankruptcy shows up on your credit for 10 years.
1. Make a budget. Calculate your income and your expenses make a budget for your household.
2. Look at your credit report and be aware of your score.
3. Talk to your creditors. Do this as soon as you realize you are getting behind in your payments. 4. You can work with them to reduce your payments before you get too far behind.
5. Always get any agreement in writing. Make sure you get a letter when you negotiate lower interest rates and payments.
6. Stop using credit cards. Only buy what you know you have money in the bank for.
7. Gradually cut off credit accounts. All of a sudden cutting off all credit accounts makes others think you are financially unstable.
8. Try a secured credit card. This means you supply money up front as collateral. For instance, if you deposit $400 in the bank, you will have a $400 limit on your secured credit card. This is a safe way to build your credit.
9. Join a credit union rather than a bank. They are more likely to give you a loan than a bank is.
10. Always make payments on time. Payment history is the number one thing that determines your credit score.
If at all possible, always avoid bankruptcy. Bankruptcy shows up on your credit for 10 years.
Monday, August 4, 2008
2491 Mission Hill, Perrysburg, OH
Feature Home - Away from the turmoil of traffic!
$499,900
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Front View
Address: 2491 Mission Hill Dr.
City/ST: Perrysburg, OH
Zip Code: 43551
Location: 2491 Mission Hill
Property Type: Single Family Home
Square Footage: 3977
Bedrooms: 4
Bathrooms: 3 full, 1 half
MLS# 4642921
Tucked away on a quiet cul-de-sac, you will love this custom home in the Sanctuary in Perrysburg. This home has a great open floor plan with large rooms, perfect for entertaining. You will find fresh paint and lots of casement windows throughout this charming home. The towering 2-story foyer leads you to the rest of the home. Recipe for success: efficient style plus inviting warmth in this large gourmet kitchen. The kitchen also has granite countertops, tile floors, a double oven, and lots of cabinets. The window over the sink overlooks the back yard, the perfect way to keep an eye on the kids! The kitchen is also open to the beautiful family room with crown molding and a fireplace. This home also has a living room with crown molding. Need an office? This home also has a den with judges paneling and crown molding. Hardwood steps lead you upstairs. You will love the large open hallway with built-in shelves. The main suite provides a soothing oasis of special conveniences and comforts at day's end. This huge master bedroom has a tray ceiling, rope lighting, and a ceiling fan. Relax in this luxurious master bathroom with a garden tub, built-in sound system, tile floors, a separate shower, and a dual sink vanity. This home has four bedrooms plus a bonus room with vaulted ceilings. This home also has 3.5 total bathrooms including a jack-n-jill bathroom. One of the bedrooms is large with vaulted ceilings, crown molding, and double doors. Another bedroom is also large with a window seat and two closets. This home also has a guest bedroom with a private bathroom. This home also has a first floor laundry room with tile, a sink, and storage. The large finished basement will be the perfect spot for entertaining with its built-in surround system and custom bar. Outside of this amazing home, you will love entertaining others in the large, private, wooded back yard with a beautiful deck. This home has a three car garage with a private stairway to the basement. You will absolutely love the quiet neighborhood with a wooded walk path and a pond. To see this wonderful home, call Victoria at 419-460-5587 today!
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